Mitsubishi Chemical Holdings Corporation (MCHC) strives to strengthen and thoroughly implement its internal control system based on the basic policies decided by the Board of Directors. The Board of Directors inspects the implementation status of these basic policies at the end of every fiscal term and reviews any specifics of the policies as needed.
In fiscal year 2008, MCHC established an MCHC Group information security policy and information system security rules. Moreover, in response to enforcement of the internal control report system of the Financial Instruments and Exchange Law, MCHC took stock of and improved the actual conditions of the enhancement/operational situations of the Group's internal control concerning financial reporting. MCHC then evaluated such enhancement/operational situations in accordance with the standard concerning the evaluation of the internal control, as specified by the Financial Instruments and Exchange Law.
Asian Region Internal Control System Promotion Meeting
Furthermore, in order to help strengthen the initiatives for the internal control pursued by its overseas group companies, MCHC held an Asian Region Internal Control System Promotion Meeting in China (with 28 companies) and Singapore (13 companies), respectively. There, participants discussed and exchanged information on MCHC Group's initiatives for internal control, compliance by each operating company and risk management.
In fiscal year 2009, MCHC will further enhance the situations of its internal control based on the evaluation results. MCHC will also strengthen its collaboration with the internal control system-related departments and internal audit departments of its core operation companies (Mitsubishi Chemical Corporation (MCC), Mitsubishi Plastics, Inc. (MPI) and Mitsubishi Tanabe Pharma Corporation (MTPC)), in order to assist the penetration of internal control such as the promotion of compliance and risk management.
