Governance
 

Corporate Governance

We maintain a system of corporate governance which is focused on ensuring efficient business operations while improving administrative transparency in order to earn the trust, as well as satisfy the expectations, of society.

Corporate Governance

Compliance

130 employees take part in a compliance video contest
- Raising awareness about workplace compliance -

compliance

PTM Engineering Plastics (Nantong) Co., Ltd., our Chinese group company, held a video contest themed compliance-related awareness raising. For the contest, each department created a roughly three to five minute short film based on their daily operations.
10 entries from 10 departments (encompassing around 130 employees) were received; from the HR departments were entries about accurate information dissemination, from security were entries about plant gate rule compliance, and from manufacturing were entries about standard operating procedures.
10 judges chosen from each of the departments graded the entries, with the top three videos receiving awards and prizes. In addition, all of the video entries (including those not receiving an award) were played for two weeks in the cafeteria.

Promoting the introduction of “three lines of defense” against compliance violation risks

At Polyplastics, we have applied the “three lines of defense” approach, which is widely used in internal control, to compliance. The three lines of defense can be roughly sorted between “Operations departments,” “Administrative departments” and “Internal audit departments,” and each of these performs specific defense functions tailored to their role.
We are proceeding with introduction according to a two-year plan begun in FY2020, and in FY2021 we introduced the three line of defense to areas where there is a high risk of serious compliance violations, including unfair competition (cartels), anti-corruption (bribery) and illegal exportation.

Risk Management

Promotion of Risk Management

Promotion of Risk Management

We have established a CSR Committee which regularly conducts reviews in order to help us address the diversity of risks which surround our business activities. The committee categorizes risks as either “Business strategy risks” or “Operational risks” and then develops and deploys risk management activities according to relative handling priority. We will continue to watch for changes in the business environment and social landscape and will work as a group to implement activities and countermeasures which mitigate risk.
Also, in order to improve the effectiveness of these activities and countermeasures, we conduct interviews with our different departments and group companies to check whether the PDCA cycle is being fully implemented and whether there are any operational issues which need to be addressed. Moving forward, we will continue working to improve our structures and operations even further.

BCP (Business Continuity Plan)

At Polyplastics, in order to enable the continuation of our business activities in the event of a crisis, such as an anticipated Nankai trough earthquake or an earthquake whose epicenter is directly below Tokyo, we have created a Business Continuity Plan (basic BCP document), as well as a variety of manuals. Furthermore, in FY2021, we also developed a new BCP for dealing with temporary suspension of production at our plant in Malaysia. We make sure that employees are familiar with both the BCP and manuals so that, when a crisis does arise, business operations can continue with as little interruption as possible.

Internal Control

Internal Control

We have established the Internal Control Basic Policy to use as a guide for ensuring suitable business management. In addition, our group companies conduct self-check each year, and all divisions and group companies are asked to submit a report which confirms the effectiveness of internal control within each organization. We also regularly conduct internal audits to evaluate the effectiveness of internal control, and we are working together with our parent company, Daicel Corporation, to put in place a global audit system which will further improve the quality of our auditing.