Relevance to our business
The Fuji Oil Group began expanding to overseas markets on a full scale in the 1980s, and has major business sites in 14 countries around the world (as of July 2021). Amid accelerating social changes, continuing to create value for society requires the Fuji Oil Group to respond promptly to the social issues and needs in each region in which it operates. To localize management and pursue the Group’s total optimization, the Fuji Oil Group has adopted a management system based on a pure holding company structure since October 2015. We believe that Group governance is essential as the basis of Group management.
To mark our transition to a holding company structure in October 2015, we established the Fuji Oil Group Management Philosophy* to ensure that our corporate values are shared among all Fuji Oil Group employees.
To put the Group Management Philosophy into practice, we formulated Group policies for managing the Group and building an effective Group governance system.
* Refer to the link below for the Fuji Oil Group Management Philosophy.
The Chief Strategy Officer (CSO) oversees initiatives in the area. The ESG Committee,*1 an advisory body to the Board of Directors, monitors the progress and results of initiatives as an ESG material issue.*2 The ESG Committee reports insights to the Board of Directors for review.
*1 Follow the link below to learn more about the ESG Committee.
*2 Follow the link below to learn more about material ESG issues.
Goals / Results
At least 90% complete At least 60% complete Less than 60% complete
|FY2020 Goals||FY2020 Results||Self-assessment|
|Develop a management execution system according to the Group policies||
|Promote understanding of the Group Management Philosophy and Group policies||
Although we were able to establish councils and develop communication methods with each Group company to gain further understanding of the Group Management Philosophy and Group policies, changes in working conditions due to the coronavirus (COVID-19) outbreak, such as the shift to working from home, have made it difficult to maintain effective communication methods between Fuji Oil Holdings Inc. and each Group company in some areas. We have to look for communication methods that work effectively even during the pandemic.
We have to further develop the management cycle for improving Group governance. This includes self-assessment on various measures by Fuji Oil Holdings Inc., studying the monitoring items for each area and business, and defining the criteria for selecting Directors at each Group company.
We recognize that to enhance the Group governance system, we need to strengthen the management cycle of management supervision and business execution between Fuji Oil Holdings Inc. and Group companies. To address this issue, we will work on the following goals in FY2021 as we formulate a new medium-term management plan.
- Amend Group policies to clarify the responsibilities and scopes of authority of supervisory and executive roles in the Fuji Oil Group
- Reset communication methods with regional headquarters for instilling the Group Management Philosophy and ensuring implementation of Group strategies
- Strengthen coordination with the Internal Audit Group for confirming the status of management execution (execution monitoring)
Internal control system
The Internal Audit Group conducts internal control audits and operational audits, while the functional groups conduct separate operational audits.
For the operational audits, we conduct remote audits using system data analysis and online conference systems to assess and confirm the effectiveness of internal control systems, even when the COVID-19 situation does not allow for site visits.