Governance
Recognizing the fulfillment of corporate governance as the priority issue for management to increase corporate value, Central Automotive Products Ltd. strives to improve management checking functions to promote appropriate decision making and conduct effective and sound business activities.
To increase long-term shareholder interest and fulfill its responsibility to stakeholders (shareholders, business partners, employees, local community, etc.) and society, Central Automotive Products Ltd. established appropriate and effective internal control systems, aiming to establish sound and effective corporate governance.
To execute the above-mentioned policies, Central Automotive Products Ltd. established an internal system consisting of the clarification of individual roles and work assignments, and promotes improvement in speed.
Central Automotive Products Ltd. prioritizes the early detection and resolution of issues by sharing its corporate philosophy, basic policies, basic strategies, and code of conduct among the executives and employees, and the performance of smooth communication while contiguously ensuring compliance.
Central Automotive Products Ltd. strives to establish and maintain effective internal control system by reporting the ongoing review of the internal operations, including the correction and improvement of issues in accordance with the basic policies as well as measures for the prevention of recurrence according to need at the Board of Directors Meetings and Management Meetings (quarterly management promotion committees, and biannual budget briefings, and general management committee meetings).
Central Automotive Products Ltd. established a Risk Management Committee to conduct company-wide responses to risks at Group companies in accordance with its policies for early detection and implementation of measures for mitigation.
In 2003, Central Automotive Products Ltd. systematized its code of conduct, including the Compliance Manual, Compliance Charter, and Compliance Action Policy, from the viewpoint of prioritizing compliance.
In the Basic Policy, Central Automotive Products Ltd. clearly indicates its position regarding internal control systems and compliance stating that Central Automotive Products Ltd. establishes a corporate climate prioritizing internal control systems and compliance, and strives to be a development-based company that fulfills its social responsibility.
In its Compliance Manual, Central Automotive Products Ltd. views deepening understanding and awareness of compliance as essential to the early detection of and response to potential issues. The manual directs all employees to immediately contact a supervisor or related manager to discuss any question or issue related to compliance. To facilitate this important process and protect whistleblowers, Central Automotive Products Ltd. has established the Legal Audit Division (Internal Audit Division) and internal reporting system as a means for employees to discuss or report potential violations to the compliance consultation desk, aiming to ensure fair workplaces and sound business relationships, as it continues to contribute the society through its business activities.
In addition to holding financial results briefings and individual IR coverage, Central Automotive Products Ltd. posts financial statements on its official website to ensure long-term trusting relationships with shareholders and investors.
