Basic Approach to Corporate Governance

Amid the need for management transparency and effective corporate governance, we consider it important to build and maintain an organizational structure that can respond to the business environment with agility and a fair management system that emphasizes shareholders. With this in mind, we strive to ensure sufficient corporate governance and have implemented the following measures to improve our business execution and supervisory functions.

• Board of Directors

As a rule, the Board of Directors meets once a month to deliberate on important matters as well as discuss the progress of business performance and actions to be taken in accordance with the rules of procedure for the Board of Directors. In addition, important matters concerning the performance of duties by the directors are submitted to the Management Committee, which is composed mainly of directors and acts as an advisory body for the Representative Director, so that the decisions of the Representative Director are understood and implemented accurately.

• Board of Auditors

Osaka Soda has adopted a corporate auditor system which enables auditors to attend meetings of the Board of Directors, actively participate in important internal company meetings, and supervise the execution of duties by the directors adequately.

Corporate governance and internal control systems diagram