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Annual Report 2005
36
MITSUBISHI MOTORS CORPORATION
The new motto of the Mitsubishi Motors corporate
philosophy states: “We are committed to providing the
utmost driving pleasure and safety for our valued custom-
ers and our community. On these commitments we will
never compromise. This is the Mitsubishi Motors way.”
Based on this philosophy, MMC aims to build better
relationships with shareholders and other investors,
customers, suppliers, employees and all other stakehold-
ers. To make this corporate philosophy a reality, MMC is
initiating a number of measures to raise standards of
corporate governance.
1. Corporate Governance Framework
MMC employs the Corporate Auditor System laid down in
the Japanese Commercial Code. In addition to mandatory
organizations and governance systems, we are improving
and strengthening our corporate governance in various
ways. These include appointing outside directors,
introducing an executive officer system and setting up
advisory committees.
Corporate Governance
MMC’s Corporate Governance Framework
Board of
Directors
Chairman
Shareholders
Meeting
Board of
Auditors
Managing
Directors
Meeting
Business Revitalization
Monitoring Committee
Business Ethics Committee
CSR Promotion Office
Subsidiaries and Affiliates
(in Japan and overseas)
Vice President (In charge
of revitalization promotion)
President
Report and advise
Report and advise
Quality Affairs Office
Each Business Unit
Audit
Guidance and advice
Quality audit
Internal audit
Internal audit
MMC’s Board of Directors has 12 members, three of
whom are outside directors. The Board is responsible for
making decisions concerning important management
issues and overseeing business execution. In addition, the
adoption of the executive officer system clarified the
separation of the roles and responsibilities of directors and
executive officers. The Board of Statutory Auditors has 4
members, including 2 outside auditors. Furthermore,
managing directors meetings, attended by 15 members,
are held every two weeks to expedite decision-making
within the company.
Advisory committees that report to the Board of
Directors supplement the internal governance structures.
In June 2004, MMC established the Business Ethics
Committee, which is made up of six outside experts in
various fields. As part of efforts to foster a more strongly
compliance-oriented mindset within the company, this
committee provides MMC with directions and advice on
ethics-related matters from an external perspective.