The Mitsubishi Rayon Group is working to enhance its corporate governance by undertaking fair business activities in compliance with laws and with a high standard of corporate ethics.
The Company hereby establishes its "internal control system" as below, which shall be reviewed and improved going forward as necessary. The purpose of this fundamental internal control system is to contribute to the achievement of MRC's corporate philosophy and to maximize the Company's corporate value by securing proper execution of business activities, ensuring efficiency of business activities and managing business risks.
1. System to ensure business operation by Board Directors ("Directors") to comply with laws and the Articles of Association
- Directors shall act as a role model for others and execute their duties in accordance with the "Corporate Behavior Charter" whose purpose is to achieve the Company's corporate philosophy.
- Directors shall not only make business decisions but also make business reports and share information necessary for execution of Company's business at regular Board Meetings and at special Board Meetings.
- Directors shall mutually monitor and oversee other Directors' execution of duties to ensure entire legal compliance thereof. Should Director(s) be in violation of laws or Articles of Association committed by other Director(s), such instances must be immediately reported to the Corporate Auditors and to the Board and corrective measures shall be taken.