Corporate Governance
Geomatec considers corporate governance an important concept that ensures lawful business and interactions with stockholders and other parties.
The Board of Directors is fully aware of the following functions and conduct management by making appropriate and lawful decisions.
- The rights of shareholders, protection of profits, and maintenance of fairness
- Respect for the rights and profits of stakeholders other than shareholders and formation of smooth relationships
- The need for business transparency through timely and appropriate information disclosure
- The need for executives to carry out their roles and responsibilities
- The need for healthy dialog with shareholders
Please note that while the company does employ an internal audit & supervisory committee, we believe it is one whose functions ensure efficient and appropriate operational management.
Governance Structure
Company's Board of Directors currently consists of seven directors: four directors and three directors who are Audit and Supervisory Committee members (including two outside directors).
Board of Directors
In addition to determining matters stipulated by the Companies Act—such as policies regarding the establishment of internal control systems—and other matters concerning management and business execution, the Board receives reports on business execution overseen by the Representative Director and President (both periodically and as necessary) and supervises such execution.
Audit and Supervisory Committee
The Company is a company with an Audit and Supervisory Committee. Currently, the Committee consists of three members, two of whom are outside directors serving as independent officers. In accordance with audit policies and plans, the Audit and Supervisory Committee members perform rigorous audits of the directors' execution of duties and fulfill a management oversight function. They achieve this by attending key meetings—including Board of Directors meetings—reviewing important documents, and investigating the status of business operations and assets.
Furthermore, the Committee seeks to enhance the effectiveness of its audits by maintaining close coordination with the internal audit department and the accounting auditor.
Internal Control System
Geomatec has constructed its corporate governance structure to ensure effectiveness of internal controls. It accomplishes this by building links with and managing the operations of each division.
