Corporate Governance

Corporate Governance Report

Corporate Governance Framework

Corporate Governance Framework

NOK has adopted the format of a company with a board of corporate auditors. To develop and provide products and services from the customer’s perspective in a business environment where technological innovation and the needs of end users are rapidly changing, we believe it is important that directors who are well-versed in operating a business be involved in making key management decisions. From this point of view, the directors who concurrently serve as executive officers cooperate with each other in the execution of their duties, while directors, including external directors, mutually monitor each other. The corporate auditors, including external auditors, audit management. The Board of Directors and the Board of Corporate Auditors, which include personnel from outside the company, are the key to strengthening the checking function.
To improve objectivity and transparency regarding nominations and remuneration, the Board of Directors has established the Management Oversight Council with key members from outside the company as an advisory body to the Board of Directors, which regularly confirms important matters such as nominations and remuneration and provides appropriate advice to the Board of Directors.
committed to this goal.
In addition, significant management risks are checked and assessed at the Management Oversight Council periodically.
In terms of the internal audit function, the Internal Control Audit Committee, an advisory body to the Board of Directors, regularly audits the systems to ensure the proper operation of NOK and its subsidiaries in accordance with the Internal Control Regulations, and reports the results to the Board of Directors and the Board of Corporate Auditors.
On June 28, 2023, NOK introduced the CxO System in order to further strengthen the governance of the entire NOK Group in business execution. Specifically, we have established CEO, CFO, and CTO positions that we consider necessary as a manufacturing corporate group, and also organized their duties and authority. By separating and clarifying the governance of the entire Group from that of each business company and delegating appropriate authority in line with the actual situation, we have created a corporate system that enables swift decision-making and efficient group management.

Corporate Governance
ESG ESG