Epson 2012 Annual Report Download - page 34

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33
Corporate Governance
1. Approach to corporate governance
(1) Corporate governance system
Outline
Epson's basic approach to corporate governance is geared toward
▪ continuously increasing enterprise value; and
▪ reinforcing business checks and balances, practicing sound corporate ethics, and ensuring business
transparency and health.
The Company has a board of directors and a board of statutory auditors. The board of directors, which had 10
members as of the date the Annual Securities Report was submitted, meets once a month and convenes
extraordinary meetings as needed. The board of directors makes decisions regarding basic management policies,
key business operations, period-end closing, disclosure timeframes, and other important issues. Various
management bodies have been created to advise the president, deliberate issues to facilitate decision-making, and
oversee and enhance the execution of business.
The main corporate management bodies and their aims are as follows:
Corporate Strategy Council/ Corporate Management Meeting
The Corporate Strategy Council and corporate management meetings are convened to thoroughly deliberate
matters before they are referred to the board of directors.
Trust-Based Management Council
The Trust-Based Management Council meets to discuss compliance management, focusing primarily on internal
control systems, and to deliberate issues relating to risks and the provision of internal controls.
Nomination Committee/ Compensation Committee
The Nomination Committee screens board of director candidates, and the Compensation Committee deliberates
director remuneration issues.
Epson’s system of corporate governance, including the elements above, is as follows:
Reasons for adopting the current system of corporate governance
Epson is looking to initiate fresh growth by developing and executing strategic measures based on the SE15
Second-Half Mid-Range Business Plan (FY2012-14), which is aimed at achieving the goals set forth in Epson's
"SE15" Long-Range Corporate Vision.