Internal Control Measures
Resolution adopted to establish internal control systems at Board of Directors
In recent years, corporate scandals and lack of compliance have become matters of social concern. To prevent misconduct, management needs to implement stronger internal control systems.
Japan's Company Law, which took effect in May 2006, obliges companies to construct internal control systems.
In March 2010, the Board of Directors reviewed the Group's internal controls and adopted a resolution to update its internal control system, an outline of which was published in the annual securities report for fiscal 2009 ended March 2010. Konica Minolta strives to ensure the legality, rationality, and efficiency of its business activities by reviewing, as occasion demands, its systems and rules of supervision and operations pertaining to all business across the Group.
Complying with Japan's Financial Instruments and Exchange Law
Conducting an internal assessment of 90 consolidated Group subsidiaries around the world
The Japanese Financial Instruments and Exchange Law (JSOX) was adopted during fiscal year ended March 2009 in order to prevent corporate accounting fraud and ensure reliability of financial reporting. Konica Minolta,Inc. conducts an internal assessment of its 90 consolidated group subsidiaries, including those located outside Japan, to prepare its internal controls report. The report undergoes an internal controls audit by external auditors, and then is submitted together with the Japanese Annual Security Reports (fiscal year ended March 31, 2010).