Olympus 2004 Annual Report Download - page 25

O LYMPUS 2 0 0 4 2 3
CO RPO RATE G O VERNAN CE AND CO MPLIANCE
“Social IN ” M anagement Principle
>The O lympus Gro up aims to co ntinuo usly pro vide new value, as
is truly desired by society, fro m its co re competence in O PTO -
Digital Techno lo g y. As the foundatio n of o ur business activities,
o ur manag ement principle of “So cial IN ” entails pro viding new
value to pro mote healthy and happy lifestyles, wo rking to gether,
and the sharing o f values with all o f society.
O lympus’ Corporate G overnance
and Compliance Structure
>Regarding co rpo rate g o vernance as an important manag ement
issue, the O lympus G ro up is making concerted effo rts to build an
o ptimal, effective, and fair management structure based o n the
“Social IN ” principle fro m a glo bal perspective.
In principle, the Board of Directors meets twice a month to fo r-
mulate business strateg y, make critical decisio ns and o bserve
business executio n. O lympus has an executive o fficer system that
places executive officers in charge of business executio n func-
tio ns. W e have reduced the number o f directo rs from 2 0 to 1 2 ,
and the term of o ffice for directo rs is o ne year in o rder to better
clarify respo nsibilities. O lympus strives for swift and efficient
management with a clear divisio n of respo nsibilities for its exec-
utive officers.
The internal co mpany structure comprises four internal compa -
nies, each of which are fo cused on specific market segments,
aiming to impro ve respo nsiveness to market needs, and acceler-
ate business pro pulsion thro ugh an independent and self-suppo rt-
ing division o f powers. In O cto ber 2004, O lympus plans to split
o ff the Imaging Systems G ro up and the Medical Systems G ro up,
and as an advanced fo rm of the internal co mpany structure, also
split o ff primary sales subsidiaries in the U.S. and Europe. By tak-
ing these o perations and establishing an integrated business struc-
ture, we aim to strengthen our respo nsiveness in glo bal markets.
Members of the G lo bal Strateg y Co mmittee, including the pres-
ident o f O lympus, the heads o f each internal company and
research center, as well as the presidents of primary sales sub-
sidiaries around the wo rld, meet to strengthen glo bal manage-
ment. Held twice a year, the G lobal Strategy Co mmittee formulates
management strategies and deliberates on performance valua-
tio n, among other issues.
W ith regard to auditing, O lympus has an auditing structure
co mprising fo ur auditors, of which two are outside auditors. The
Bo ard o f Audito rs meets in principle twice a month. Auditing
firms perform external audits and the Audit O ffice conducts inter-
nal audits.
O lympus determines internal rules and regulations that serve as
a code of co nduct for emplo yees. O ur co mpliance system
addresses laws and ordinances related to medical equipment
aro und the wo rld as a part o f our corpo rate respo nsibility of pro -
viding medical equipment and pro ducts that affect peo ple’s lives.
In additio n, we are co nstructing a quality assurance system to
ensure constant quality impro vements.
O lympus has set up a Risk Manag ement Co mmittee headed by
the president to prevent the occurrence of crisis situatio ns and to
be able to reco ver quickly should o ne o ccur. Specially trained
staff in the Risk Management Bureau collect information on poten-
tial risks, evaluate these risks, propose effective countermea-
sures, and pro vide assistance in ensuring effectiveness.
O lympus O rganization
(As of June 3 0, 2 004 )
Bo ard o f Directo rs
Bo ard o f Audito rs
Chairman President
Executive Management
Co mmitte e
G lo bal Strategy Co mmittee
Risk Management Co mmittee
Intellectual Property &
Licensing Division
Corpo ra te Center
Trade Co mpliance Bureau
Corpo ra te Planning Divisio n
Pharmaceutical Affairs Division
BPI Pro ject
Info rmatio n Systems Department
Imaging Systems Group
Medical Systems G roup
Life Science G roup
Industrial Systems G ro up
Corpo ra te R&D Center
Future Creatio n Labo rato ry
オリンパス AR04 04.8.4 14:06 ページ 23