Corporate governance system
Cosel considers corporate governance to be an important topic of management. Together with striving to improve management efficiency, aiming to be a company that rewards the trust and expectations of various stakeholders, we also have adopted a Corporate Auditor system as part of system improvements intended to enable management oversight functions and compliance to function smoothly.
Based on our management philosophy identifying "Responding to the Trust of Society by Putting Quality as the Most Important Priority" as a fundamental management concept, we strive to improve the corporate governance system by utilizing the concept and techniques of total quality management (TQM).
Board of Directors
The Board of Directors makes decisions on matters as required by laws, regulations, and the articles of incorporation, as well as management policies and business execution. The Board oversees the performance of the duties of the CEO.
The Board of Directors meetings are usually held once a month. Directors execute business activities in their areas of responsibility under the direction of the CEO, based on the management policies decided on in meetings of the Board of Directors.
Nomination and Remuneration Committee
This committee deliberates and advises on nomination and dismissal of directors of Group companies and remuneration of directors other than Audit and Supervisory Committee members and of executive officers, as an advisory body to the Board of Directors.
Audit and Supervisory Committee
Chaired by a director and full-time Audit and Supervisory Committee member, this Committee meets once a month in principle and at other times as necessary.
Audit and Supervisory Committee members attend meetings of the Board of Directors and other meetings to audit the performance of the duties of directors.
Under the guidance and supervision of the CEO, the Board of Executive Officers executes its assigned duties in accordance with decisions made by the Board of Directors or directors to whom decision-making authority is delegated by the Board of Directors.
The Board of Executive Officers meetings are held once a month in principle and at other times as necessary.
The Audit Office, which is under the direct control of the President, has been established as an internal auditing division audit internal control functions in cooperation with Audit and Supervisory Committee members, the Audit and Supervisory Committee, and accounting auditors.
This meeting is held for reporting and deliberation on business execution policies and plans based on fundamental policies decided on by the Board of Directors and on implementation of important operations. It is held once every three months, with the participation of Directors, division heads, and other members of management.