Tokyo, Japan, June 20, 2012 - NSK Ltd. (“NSK”; Headquarters: Tokyo, Japan; President and CEO: Norio Otsuka) announced that it will establish a Compliance Enhancement Office on July 1, 2012 to further strengthen the compliance system.
NSK established a Compliance Committee on March 15 to further strengthen the compliance system as an internal framework at the upper level of management to promote various company-wide compliance measures under the direct guidance and supervision of the president and the executive officers in charge of the divisions. In an effort to further strengthen the compliance system, NSK has decided to establish a Compliance Enhancement Office under the control of the Legal Department, Compliance Division Headquarters, as an organization which is responsible for all compliance-related operations of the NSK Group based on policies and measures to strengthen compliance which the Compliance Committee formulates.
The Compliance Enhancement Office is a department specializing in all compliance related operations previously implemented by NSK’s Compliance Division Headquarters and will be responsible for planning, implementing, confirming and correcting these operations in conjunction with and while obtaining the requisite support from the Legal Department.
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Services |
Compliance Committee
- *The committee will obtain proposals and advice based on expert opinions from independent directors and external experts such as lawyers as advisers from an objective standpoint and reflect the proposals and advice into its activities.
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- - Formulate policies intended to strengthen the level of compliance and decide on and promote measures designed to enhance compliance
- - Monitor and supervise implementation of these compliance measures and report on the progress thereof to the Board of Directors.
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(Newly established department)
Compliance Enhancement Office, Legal Department, Compliance Division Headquarters |
- - Plan, implement, confirm and correct all compliance related operations including measures to strengthen compliance.
- - Plan, design, implement and monitor measures to ensure strict adherence to related laws, rules and business ethics.
- - Monitor and supervise implementation of measures to strengthen compliance and report on the progress thereof to the Compliance Committee.
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Under the new compliance framework described above, NSK aims to step up its efforts on a company-wide basis to ensure that the business activities of the entire company adhere strictly to applicable laws and regulations, and that they are conducted based on its social responsibilities as a corporation.
This document is an English convenience translation of a document that was originally prepared in the Japanese language and is provided for convenience purposes only. NSK makes no representation or warranty that this document is a complete or accurate translation of the original Japanese text, and is not intended to be relied upon. In the event that there is a discrepancy between the Japanese and English versions, the Japanese version shall prevail. This document is not intended and should not be construed as an inducement to purchase or sell stock in NSK.