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          Governance

          Basic Guideline on Corporate Governance

          When it comes to corporate governance, we recognize that unfair and inefficient management not only cripples corporate values, but it also seriously hinders the sustainability of the company.

          Our basic guideline is to refine the aspirations and self-discipline of corporate members, in particular management. We create more effective corporate governance through management philosophy, action guidelines and strategic sharing.

          By minimizing the number of directors and facilitating the flow of information within the company, we can maintain a corporate culture in which issues are settled logically, avoiding fraud and scandals. Continuous improvements in management efficiency result in faster decision making and execution of operations, strengthening our competitiveness and improving our corporate value.

          Corporate Governance System

          Our corporate governance system uses an auditor system with three outside auditors. The corporate auditors do not have any full-time KEYENCE staff. The audit team works together and the corporate auditors attend various important company meetings. Meanwhile, the number of directors is nine, including two outside directors, which enables quick and thorough information exchange to achieve both supervision and execution.

          We are building an internal control system where on-site audits are performed by a special department, information is quickly transmitted and a check function is implemented. The following is an overview of the corporate governance system and the business management organization for management decision-making, execution and supervision.

          Internal Audit Team

          An appointed audit team has been formed to conduct internal audits. The audit team conducts internal audits focusing on the appropriateness and effectiveness of business operations at locations in Japan and overseas. The audit results and other information are reported regularly and as required by the president.

          Employee Code of Behavior

          To maintain an organization that is less prone to fraud and harassment, we are building a system where all employees regularly review the corporate policies and business guidelines that form our code of behavior.

          In addition, by actively using this code of behavior as judgment criteria in our daily business, we are working to ensure thorough compliance and improve compliance awareness.

          We also make efforts to create a workplace where everyone can freely voice their opinion.

          We focus on "what was said" as opposed to "who said it".

          For example, so as not to encourage awareness of the hierarchical relationship, it is important that employees address each other not by their job titles but by their names and be allowed to sit anywhere in meetings, thereby creating a culture where employees can speak their minds freely regardless of job title, age, career or gender.

          In addition to eliminating gaps between groups, we have created an environment that facilitates open discussions by eliminating partitions in the office space as much as possible.

          This type of culture and environment enables even new employees to assert their opinions without hesitation.

          Rational ideas will be realized with the support of coworkers; therefore, a culture with logical discussion will further enhance the logical thinking of the employee and increase their work success rate.

          Separating Work and Private Lives

          We ask that our employees refrain from bringing non-business related matters to the table when making decisions or receiving personal benefits during business hours. We do not tolerate the personal use of corporate assets, including company equipment, vehicles, mobile phones, fixtures, furniture, machinery, tools or office supplies in addition to personal use of e-mail and the Internet during business hours.

          Fairness

          Impartiality and fairness are essential to conducting appropriate corporate activities.

          An essential rule to ensuring impartiality and fairness is that we do not allow people within three degrees of current officers or employees to join the company, nor do we condone the accepting of entertainment or gifts during business transactions.

          Furthermore, in terms of impartiality and fairness, we do not condone employees using their role or position to their benefit.

          Risk Management

          Information Security

          KEYENCE retains important confidential information including customer information and proprietary development information.

          Damage to the company via information leaks or illegal use of information and the loss of social credibility pose a major risk. We work hard to prevent this from happening.

          We have established an information security policy and continue to strengthen our ability to prevent external leaks of confidential information and our response to cyber attacks.