Last Updated: 2007.12.12
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FAST RETAILING firmly believes that our sustainable growth depends on the ability to progress in step with the interests of a broad spectrum of stakeholders. This is why we have established many organizational units, including corporate governance and compliance programs, that reflect stakeholder demands.
The Corporate Governance Framework
When FAST RETAILING adopted the holding company structure in November 2005, we also began using the executive officer system and external director system. Under the former, the directors are responsible for management oversight while the executive officers are responsible for conducting business operations. This division of roles more clearly defines accountability. The Board of Directors meets at least once each month to discuss important management issues. In addition, there is a weekly Executive Committee meeting to provide a system for speedy reviews of management strategies and business plans. By electing external directors and corporate auditors, FAST RETAILING gains access to the perspectives of experts from outside the company. These insights help to reinforce management oversight and the system of checks and balances.
We have established a number of committees that include corporate auditors, attorneys and others to oversee our compliance activities. The main objectives are to make everyone aware of the importance of compliance and to prevent violations of relevant laws, regulations and ethical standards.
Please click here for more information about our compliance structure.
The holding company assists in the management of group companies and supervises their activities. It also checks the performance of Group companies on a monthly basis. Using this oversight system makes it possible to identify problems early on and to determine solutions quickly. Through this approach, FAST RETAILING ensures the transparency and objectivity of our management. Moreover, it allows us to manage operations quickly and innovatively. This provides a solid base for capturing the group-wide synergies needed to reach our goal of raising Group sales to one trillion yen and ordinary income to 150 billion yen by 2010.
Corporate Governance at FAST RETAILING
