OKI has established the Risk Management Committee, chaired by the President, to ensure that risks related to the OKI Group's business activities are managed properly. The Committee deliberates and decides on basic policies for risk management and identifies risks to be managed based on such policies. It also deliberates and decides on policies for preventing the materialization of risk and policies to address crisis scenarios.
Risks to be managed are defined and classified into three categories: "management risks" that should be considered at the management level, "business risks" that should be recognized and identified by each division, and "common risks" that are common to each company and division and should be managed cross-laterally. Of these risks, common risks are registered by the control division and preventive measures are deployed within the Group, while the Compliance Committee regularly checks the implementation status. In these ways, we are putting in place a sound risk management cycle.
To identify and resolve problems swiftly, we also established the OKI Group Crisis Communication System, which ensures that potential risk events and crises are promptly reported to the Risk Management Committee Secretariat.
Risks to Be Managed
The OKI Group has established Safety Countermeasure Committees at its domestic and overseas sites, as well as at subsidiaries, in order to ensure "protect people's lives," "prevent secondary accidents," "contribute to local communities and foster good relationships with them," and "continuity of business operations" in the event of disasters. For "continuity of business operations," each business and corporate (headquarter) division develops Business Continuity Management (BCM) and a Business Continuity Plan (BCP), based on BCM Development Guidelines.
In January 2020, we set up a task force to address the COVID-19 pandemic that struck in December 2019. We have since established basic policies and are continuing efforts to prevent the spread of the virus and ensure business continuity.
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