Corporate Governance Structure
The PHC Group tries to continuously promote and reinforce corporate governance for sustainable growth and company value improvement. The Group’s important decision-making is performed by bodies at directors meetings and Executive Committee in accordance to the processes defined in PHC Holdings Corporation “Regulations for Decision-Making on Important Matters.”
Board of Directors
PHC Holdings Corporation’s board of directors is composed of the Representative Director and all directors (excluding corporate officers) who supervise all operating divisions. A board of directors meeting is held at least monthly to ascertain internal control status such as business execution and the decision-making process, as well as to confirm business execution.
We hold a PHC Group Executive Committee meeting to accelerate decision-making and streamline business operations. It is an officer-level meeting and is held once a month to exchange opinions and decide important matters regarding management.
Board of Auditors
The Board of auditors is composed of auditors with finance and accounting expertise. A board of auditors meeting is held once a month to understand results that were discussed and resolved at a board of directors meeting and to audit their performance. Auditors also cooperate with external accounting auditors and our Group Internal Audit Room exchanging audit plans and audit status opinions.
Officer Nomination and Compensation Committee
PHC Holdings Corporation sets up an arbitrary committee to nominate officers and decide compensations as an advisory body to the Board of Directors. This is to ensure decision-making transparency regarding officer nomination and compensations.
PHC Holdings Corporation sets a “Basic Policy on the Development of Internal Control Systems of PHC Holdings Corporation” to continuously improve corporate values with transparency and soundness of company management, and regularly reports to the board of directors on operational status for approval.
Basic Policy for Maintaining Internal Control System