We at Kuraray view corporate governance as necessary for the maintenance of sound relations with our shareholders and various other parties in society with a stake in our company. We consider it vital not only for assisting in the improvement of our performance and sustained growth as a company but also for fulfilling our responsibility to society.
Kuraray in Fiscal 2003 separated supervision and business execution by reinforcing its board of corporate auditors by increasing the number of outside auditors, setting up a management advisory council, shortening the terms of office of directors, introducing an executive officer system and other measures. From Fiscal 2008, outside directors have been elected. These measures contributed to putting corporate governance into effect. In Fiscal 2015, the Basic Policy for Establishment of Internal Control System was amended to strengthen the governance system for Kuraray Group.
In 2003, Kuraray instituted CSR Committee by integrating Philanthropy and Environment Committee and In-house Ethics Committee, and bolstered its CSR promotion structure on a Group level. Three committees of experts (Social Responsibility and Economic Subcommittee, Environmental and Industrial Safety Subcommittee, and Risk Management and Compliance Subcommittee) are organized under CSR Committee. Nine working teams are organized in each committee of experts. These committees of experts and working teams study company-wide policies and targets and propose them to the management. Each department constituiting these committees and working teams collaborates with various organizations in Kuraray Group in addressing respective theme in accordance with company-wide CSR policy. Multifaceted studies are made possible by appointing responsible directors and presidents of all companies as members of CSR Committee.