The risks* in the business environment surrounding the JVCKENWOOD Group are increasingly diverse and complex, and the Group has established a risk management system to formulate and implement enterprise-wide risk mitigation measures. The Chief Executive Officer is directly responsible for this system.
The Group's risks management process operates on the cycle described below (see diagram).
1. Implementation of an annual Risk Surveillance Process at business sites around the world to identify the risks confronting the workplace, quantitatively assess their importance, formulate responses, and monitor progress.
2. Regular meetings of the Enterprise Risk Management Conference under the chairmanship of the director in charge of risk management. The Conference investigates risks, management issues, and operational issues highlighted in the Risk Surveillance Process as difficult for individual units to deal with, and identifies those that require enterprise-level perspectives and solutions in light of their impact on business, urgency, and degree of incidence. It then formulates measures for their solution, assigns a responsible Officer, and monitors progress. The Conference is supervised by the Board of Directors and regularly reports to the Board on the status of significant risks, risk-related matters requiring further investigation, and other matters for deliberation.
3. Implementation of a kaizen cycle by the Officer assigned responsibility for a significant risk. This cycle is used to deploy measures to business units and regions as initiatives to be achieved during the current consolidated business year.