Corporate Governance

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Roles of Board of Directors and Each Committee

Fundamental Policy

PARCO constantly works to strengthen its corporate governance, recognizing that to enhance its corporate value it is essential for it to protect the rights and earnings of shareholders, build smooth relationships with stakeholders other than shareholders, preserve transparency in management and establish an effective management oversight structure. PARCO has adopted the “Company with Committees” system in order to make a clear distinction between supervision and execution in management, build a highly transparent corporate governance structure, and establish a means of quick decision-making and business execution.

Compliance Structure

As part of its measures for the compliance structure, PARCO has implemented an internal awareness program that includes formulation of the Basic Principles of Compliance, and a Code of Conduct, which all employees are expected to adhere to and follow, and distribution of the PARCO Employee Handbook incorporating management principles, ten action guidelines designed to ensure application of these principles, as well as compliance guidelines. Also, in consideration of compliancy and risk management, we have set up an internal reporting system to protect the persons providing information from any negative consequences that might arise from disclosure.

Risk Management Structure

PARCO has established a Risk Management Committee chaired by the Administration Division general manager, to provide cross-organizational monitoring of various risks, company-wide response, and general control. We have also established a CSR Committee, chaired by the president and representative director, which coordinates activity with the Risk Management Committee as necessary, to control and efficiently implement risk management and other CSR activities, increasing the speed and effectiveness of conduct.

Other Initiatives

Business Strategy Office and Corporate Planning Office

The Business Strategy Office and the Corporate Planning Office seek to increase the corporate value of the entire group, work to develop and foster businesses that provide new sources of earnings, and promote strengthening of corporate governance. Their roles are to oversee implementation of the Five-Year Medium-Term Management Plan at each of PARCO’s group companies, to coordinate public relations based on the management plan, and to increase the corporate value of the entire group as a management supervision audit organ. The Corporate Planning Office also provides administrative functions for the CSR Committee, and works to build a CSR structure in cooperation with affiliated departments.

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Corporate Governance