Basic Thoughts on Corporate Governance

We will continue working to strengthen corporate governance, based on our understanding of the importance of raising management transparency and fairness, achieving sustainable growth and development and fulfilling our social responsibilities. Specifically, we aim to strengthen corporate governance by reinforcing the internal control system, increasing management transparency and promoting the reinforcement of management oversight functions. By conducting honest management that emphasizes corporate ethics through these measures, we aim to increase our corporate value.

Basic Systems

Promoting corporate governance through the business execution system and audit and supervisory system

Overview of the Corporate Governance System

 

OLC is a Company with a Board of Corporate Auditors system. OLC has also introduced a Corporate Officer System to strengthen the management supervisory functions and to accelerate decision making.
In addition, from the viewpoint of incorporating opinions from outside the Company to ensure transparency and fairness in corporate management, OLC has a Board of Directors with ten directors, including two external director. OLC also has a Board of Corporate Auditors with four corporate auditors, including three external corporate auditors, which incorporates opinions from an objective and independent stance to raise the efficiency of corporate auditors.
Furthermore, as part of the process to enhance the internal control system, starting with a thorough compliance system, OLC has established various committees.

<Corporate Governance Structure (As of August 1, 2019)>

*1. The maximum number of directors defined in the Articles of Incorporation is 15.
*2. The maximum number of corporate auditors defined in the Articles of Incorporation is 6.

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