The Kikkoman Group believes that responding effectively to the changing business environment and maximizing corporate value through the enhancement of the Kikkoman Group management form the true basis for running a company with the mandate given by shareholders. We also consider one of our most important management priorities to be executing sound governance in order to fulfill our corporate responsibilities to all stakeholders.
Corporate Governance Framework
Kikkoman Corporation employs an audit & supervisory board system. We strive to improve and enhance our corporate governance framework with the aim of achieving greater management transparency, clearly defined management responsibility, speedy decision-making, and stronger management oversight.
In March 2001, we introduced a corporate officer system and transferred authority for business execution to corporate officers in an effort to streamline operational responsibilities and speed decision-making and business execution.
In October 2009, we shifted the Group’s management system to a holding company structure. Individual operational companies will enhance their ability to create value in line with their own areas of authority and responsibility based on a Group management strategy determined by the holding company, thereby maximizing the Group’s overall corporate value.
Appointment of Outside Directors and Outside Audit & Supervisory Board Members
At Kikkoman Corporation, four of eleven directors are outside directors, and two of four audit & supervisory board members are outside board members. We set standards regarding independence of outside directors to elect independent candidates who have no vested interests. All outside directors and outside audit & supervisory board members are reported to the Tokyo Stock Exchange as independent directors.
The role of outside directors is to strengthen management oversight from an objective perspective that draws from their wide-ranging experience and insights. Outside directors also increase management transparency by participating in the Nominating Committee and Remuneration Committee. Outside audit & supervisory board members conduct rigorous audits from an objective perspective that draws from their wide-ranging experience and insights.