Pentax 2006 Annual Report Download - page 30

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Business Operations and Compliance
The Board of Directors meets every month, excluding February
and August. Its task is to ensure that the outside directors oversee
the business activities of the executive officers in an atmosphere
that encourages lively debate. Authority has been broadly
devolved from the executive officers to the heads of each business
division, who are responsible for business operations in their
respective areas of activity. Each business division makes a detailed
report to the executive officers at a business reporting meeting
held every month, and strategies to be followed in response to
each issue are discussed. The devolution of authority allows for
timely and effective decision-making. At the same time, however,
since the outside directors (who act as overseers) are in the
majority, the executive officers are made more accountable. This
arrangement means that Hoya’s corporate governance enjoys a
strong system of checks and balances.
In the area of compliance, the Company has issued the Hoya
Business Conduct Guidelines, which are based on the Corporate
Mission and Management Principles of the Hoya Group. The
Guidelines outline the guiding principles under which each
employee should perform his or her duties, with resolute
adherence to work ethics. A Hoya Help Line, an internal reporting
and consultative system, has also been established. Should any
employee discover an act that contravenes the law or the Hoya
Business Conduct Guidelines, the Hoya Help Line ensures that a
report will quickly reach top management so that appropriate
action can be taken on the issue. This system helps to preserve the
health of the Group as a whole. The Hoya Help Line, a special
system that has been established at the Company’s headquarters,
can also be used as a point of contact with external lawyers
available to listen to employees. The system was introduced at
Hoya’s U.S. companies in 2005, and plans are in place to expand it
to cover the Company’s operations worldwide.
Full Disclosure
Fair and prompt disclosure of information is a fundamental duty of
management. Hoya respects the rights of shareholders and is
diligent in fulfilling its obligations concerning disclosure. The
Company also values dialogue with its shareholders, and will
continue to clearly reflect their views in its management practices.
In 1998, Hoya commenced the disclosure of quarterly financial
statements ahead of many other Japanese firms, and has gradually
reduced the delay between the end of each quarter and
publication. It releases consolidated accounts about three weeks
after the end of the period, and the volume of information is of
the same level as that contained in reports published annually. The
Company continues to strive to increase the speed of disclosure
and broaden the content. Top management actively participates in
investor relations activities. For example, the CEO attends investor
meetings that are held each quarter to discuss quarterly financial
reports, where he explains strategy and fields questions.
Hoya believes that companies should pursue more than profit: they should also fulfill their
responsibilities as good corporate citizens, for instance, by contributing to the community and taking
care of the environment. In this regard, the Company has established a set of Management Principles,
which each employee must follow and which cover decision-making and behavior in the business
context. These principles are based on Hoya’s Corporate Mission. By acting in accordance with these
Management Principles, the Company aims to not only grow as a group but also contribute to the
broader society, including in terms of economic and cultural development.
Management Principles
Corporate Mission
Corporate Social Responsibility
Dedicated to innovation in information
technology, lifestyles and culture,
Hoya envisions a world where all can
enjoy the good life, living in harmony
with nature.
Commitment to society
Hoya always strives to be a responsible
corporate citizen. We work hard to ensure that
our corporate activities are carried out with
respect for the environment. We are absolutely
committed to legal compliance and
ethical practices.
Commitment to customers
Hoya’s goal is to provide safe, high-quality
products and services that offer true value.
We make every effort to increase customer
satisfaction by continuously improving the
quality of our operations.
Commitment to shareholders
Hoya strives to increase corporate value by
improving business results and maintaining
growth. Our goal is to pay fair dividends and
give shareholders a return on investment that
meets their expectations. We willingly and
impartially disclose corporate information.
Commitment to employees
Hoya respects the personality and individuality
of each employee. We offer employees
opportunities to maximize their initiative
and creativity in a safe and fulfilling work
environment. We do our best to ensure
a good living for our employees.
Dedication to innovative management
Hoya constantly strives to create new value
through innovation and creative technology.
We make the most of the advances of the
information age with our worldwide
management network. We take a global
perspective while respecting local culture
and customs.