TOKYO, Jun 29 (Pulse News Wire) – Nippon Gear CO.,LTD. (6356.T) announced amendments to its internal control policy following its June 29 shareholder meeting.
The changes, approved during the 124th regular shareholders' meeting, align with the company's transition to becoming a firm with an audit committee. Key updates include enhanced oversight mechanisms such as the establishment of committees focused on risk management, compliance, and timely disclosure. Under the revised framework, the board of directors meets monthly to oversee executive operations, while external auditors attend meetings to ensure independent review.
Additionally, the company has established whistleblower protections and internal audit departments to monitor departmental activities and report findings to senior management. The amended policies also emphasize efficient decision-making processes through regular meetings and adherence to annual business plans. Furthermore, the company maintains a robust stance against anti-social forces, ensuring organizational integrity and swift legal action if necessary.
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