TOSE believes that management has a responsibility to make concerted efforts to increase corporate value over the long term, taking into consideration the overall interests of stakeholders, including shareholders, customers, vendors, employees and the local community.
To that end, TOSE seeks to ensure the transparency and soundness of management as well as undertake measures to reinforce management oversight to further strengthen its corporate governance.
Under TOSE's governance structure, the Board of Directors, including one outside director, determines matters specified by law, makes important business decisions and monitors business execution. The Strategy Council, guided by the basic policies determined by the Board of Directors, discusses and decides on business execution policies, business planning and the implementation of important business matters.
The executive officers are responsible for carrying out day-to-day business operations within the scope of authority delegated by the Board of Directors. Moreover, as a company that has selected an Audit & Supervisory Board system, TOSE has appointed three audit & supervisory board members, including two outside members.
The board seeks to reinforce the oversight function for business execution by directors. The Audit & Supervisory Board, the Internal Audit Office and an independent audit firm cooperate as deemed necessary by mutually exchanging information and opinions in order to increase the quality of the auditing process.