Iriso Electronics Co., Ltd.
Notice Regarding Formulation of Recurrence Prevention Measures
Based on the third-party committee's findings that inappropriate monetary transfers occurred at overseas sites, the company resolved to implement recurrence prevention measures. Announced organizational reforms include establishing a compliance-first corporate culture, strengthening governance, improving management systems at overseas sites, enhancing internal audits, and quality initiatives. The President and CEO resigned and voluntarily returned his compensation.
Key Figures
- Resignation of President and CEO
- President and CEO: voluntary return of 30% of executive compensation (6 months)
- Chairman of the Board, Senior Executive Officer, Executive Officer, Audit Committee Director: each voluntary return of 10% of executive compensation (3 months)
- All Outside Directors (Audit Committee): voluntary return of 10% of executive compensation (3 months)
AI要約
Overview of Recurrence Prevention Measures
This matter concerns a case in which inappropriate monetary transfers occurred at overseas sites, and the company resolved to implement recurrence prevention measures company-wide. Reforms aimed at instilling a compliance-first culture will be implemented, including strengthening governance and elevating standards for executive appointments, enhancing company-wide education and training including at overseas sites, improving the effectiveness of the internal reporting system, strengthening financial reporting systems, expanding internal audit functions, and reinforcing quality management to strengthen organizational controls.
Personnel Actions and Future Measures
In response to this matter, the President and CEO has resigned and voluntarily returned his executive compensation. Several directors, including the Chairman, will also voluntarily return part of their compensation. Going forward, the company aims to restore trust and enhance corporate value through steady implementation of the recurrence prevention measures and strengthening of internal control and corporate governance frameworks.
Iriso Electronics Co., Ltd.
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