NGK is conducting measures to expand and strengthen its corporate governance to increase corporate value with the intent of becoming a company trusted by all its stakeholders.
To ensure appropriate operations and transparent management, NGK has set its sights on establishing and maintaining an organization capable of swiftly responding to changes in the business environment, and a fair and open management system emphasizing the interests of shareholders. These components make up NGK's basic approach to corporate governance. To put this approach into practice, NGK has chosen a corporate governance structure anchored by a Audit & Supervisory Board. In addition to the General Meeting of Shareholders, the Board of Directors and the Audit & Supervisory Board, NGK corporate governance includes the Executive Committee and several other committees established to assist the president in management decision-making. These bodies help to enhance governance efficacy by deliberating and reviewing important matters.
In recognition of needs to execute swift and optimal decision making and respond promptly to changes in the operating environment, NGK introduced executive officer system, thus separating the management decision-making and supervision functions from business execution functions, and clearly defining the responsibilities of both.
Furthermore, to strengthen the Board of Directors supervision and monitoring functions, major committees among those tasked with mitigating the various risks surrounding NGK are obligated to report to the Board of Directors, and NGK has established new committee scheme, including a Nomination and Compensation Advisory Committee, a Corporate Council, a Conference of Outside Directors and Outside Auditors & Supervisory Board Members and a Business Ethics Committee, etc. to ensure the effect of Corporate Governance Code. NGK will keep on developing to realize a more comprehensive corporate governance scheme.