Key Philosophy and Activities
The JVCKENWOOD Group regards risks as “factors that could inhibit the achievement of business plans.” The Group regularly identifies risks faced by all its business sites around the world to recognize them clearly, set issues to tackle to prevent the realization of the identified risks and minimize their impact or damage, and resolve those issues systematically. In the meantime, some of the identified risks could affect the entire Company and thus require problem-solving activities on a company-wide scale and from a company-wide perspective. Management takes the initiative in implementing measures to resolve such problems. We consider that the most effective corporate response to risks is to identify them correctly in the course of our day-to-day corporate activities, understand the problems in reducing risks, and have all our business sites around the world collaborate with management to resolve those problems.
Risk Management System
JVCKENWOOD implements the risk surveillance process shown in the diagram below at all its business sites around the world every year. The purpose is to ensure the risk management activities are conducted through collaboration between its business sites and management. In the risk surveillance process implemented throughout the year, we quantitatively assess the significance of risks identified by the business sites, examine problems in reducing risks of high significance, and work on resolving those problems and confirm the effects. The Enterprise Risk Management Conference, which is comprised of members chosen from company executives and chaired by the Chief Administration Officer (CAO), keeps track of the progress and results of such activities. For risks that need to be addressed on a company-wide scale and from a companywide perspective, company executives in charge selected from among the members of the Enterprise Risk Management Conference systematically provide support to solve problems.
Business Continuity Management (BCM)
Facing various risks, in particular emergency situations, including earthquakes and other natural disasters, spread of epidemics, and global expansion of terrorism, the JVCKENWOOD Group recognizes that its first social responsibility to stakeholders is to put the utmost priority on preserving human life, and its second is to deliver products and services. To fulfill these responsibilities, the Group has defined the basic principle of the Business Continuity Plan (BCP) as “contributing to social security and safety through continuing business by swiftly reinitiating business operations after the occurrence of an emergency situation.” Based on this policy, the JVCKENWOOD Group has been conducting BCP activities at all its business divisions.
On March 31, 2017, JVCKENWOOD received certification from the National Resilience Promotion Office, Cabinet Secretariat, as a business operator contributing to the building of national resilience against disasters (Resilience Certification) in recognition of its endorsement of the objective of promoting the building of national resilience and active engagement in efforts related to business continuity.
JVCKENWOOD will take this opportunity to make efforts to further enhance the quality of BCM.