Corporate governance aimed at strengthening competitiveness while ensuring transparent management
The Ricoh Group's corporate governance
The Ricoh Group established The RICOH Way as principles and values to serve as the foundation of all business activities. Based on The RICOH Way and in compliance with corporate ethics and laws and regulations, we are building corporate governance that will strengthen our competitiveness while ensuring transparent management.
In the Ricoh Group, we strongly believe that in global corporate activities a corporate culture that embraces both a sense of mission to meet expectations of diverse stakeholders and a lofty sense of ethics that remain in line with the common sense values of society provides us with a discipline to guide our actions. Based on this belief, we maintain and improve our corporate culture based on The RICOH Way.
Continuous efforts will be placed on enhancing and promoting corporate governance aimed at sustainable growth and improved corporate values.
Outline of the organization
Our company adopts a corporate audit system. The board of auditors discusses and decides auditing policies, job allocations and other issues to monitor our business management. To supervise management and improve business execution, we are enhancing the functioning of the board of directors and adopting an executive officer system.
The board of directors is responsible for important decision making related to business management supervision and group business management. To ensure the transparency of our business management and fair decision making, we also appoint outside directors who are independent from our company.
Under the executive officer system, the authority for business execution is transferred to each business execution department to clarify individual roles and allow quick decision making.
In addition, there is the Group Management Committee, consisting of executive officers who meet certain requirements. This is a decision-making body with authority delegated by the board of directors to allow discussions from the viewpoint of total optimization and faster decision making in business management throughout the group. The Nomination Committee, which is responsible for nominations and compensations, is part of our efforts to strengthen the functioning of the board of directors in overseeing the management of the business. This is a permanent committee unique to our company that consists of outside directors and some inside directors. The major responsibilities of the committee are planning systems used to select and dismiss board members, executive officers, and other members and compensation systems. The committee also makes all decisions relating to these systems.
An Internal Control Committee is established within the Group Management Committee with the aim of strengthening the internal control system.
The Internal Management & Control Division, an organization directly reporting to the president, is responsible for compliance, risk management, and internal auditing.