Corporate Governance System

Clarion implements an auditor system with 8 Board of Directors (2 outside directors) and 4 Auditors (2 outside auditors). The Board of Directors is responsible for deciding basic management policies for the whole Group as well as for supervising its business administration. Each member of Board of Auditors objectively monitors and scrutinizes Board of Directors in the execution of its duties. The Company has introduced a “Corporate Officer System” whereby duties of supervision and business administration are clearly separated. In addition, “Corporate Management Meetings”, in which both members of Board of Directors and Corporate Officers are members, serve to assist Board of Directors.

Internal Audit department conducts regular internal audits of all individual departments of the Company and Group companies to verify effectiveness, legal compliance and observance of internal regulations. It reports the audit results directly to the Representative Director.

In this way, Clarion seeks to enhance its Corporate Governance System and to ensure transparent and sound management.

Corporate Governance System

Corporate Governance System

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