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Mizuno Reinforces Internal Control Systems by
Establishing New Committees.
To ensure compliance with Japan's Companies Act, which took effect on May 1, 2006, Mizuno adopted the Basic Policy on Internal Control Systems at the meeting of the Board of Directors held on May 11, 2006. At the Board meeting of May 9, 2008, directors decided to establish the Risk Management Committee to promote risk management across the Group, and to revise the Basic Policy, in response to the establishment of the Internal Control Reporting System Committee, whose role is to ensure the reliability of our financial statements. At Mizuno we regard these internal control systems as essential for enhancing effectiveness and efficiency of our business activities, ensuring the reliability of our financial statements, promoting legal compliance, and securing our business assets.
It is essential to check both business operations and financial reports on a consolidated basis. Together with our Group companies, I am building systems to secure the reliability of our financial statements. I believe this will facilitate decision making by our directors, who shareholders entrust with managing the corporation.
In the Information Systems Dept., we have been preparing various codes on IT systems and operation manuals for Group companies in and outside Japan. This year, with cooperation from local staff members, I plan to improve our IT systems and ensure their proper operations.
