OKI Group Promotes Compliance Enforcement Measures
Adopts OKI Compliance Commitment and revises the OKI Group Code of Conduct
TOKYO, January 30, 2013 -- OKI (TOKYO: 6703) today announced the establishment of its "OKI Compliance Commitment" and revisions of its "OKI Group Code of Conduct". Under management leadership, the OKI Group plans to pursue the steady implementation of these measures, focusing on compliance issues.
OKI caused significant inconvenience to its stakeholders due to the inappropriate accounting practices at one of OKI's consolidated subsidiaries last year. Regarding this incident with the utmost gravity, OKI at its board meeting chose to establish an "OKI Compliance Commitment" and to revise the "OKI Group Code of Conduct", seeking to enhance awareness of compliance issues among Group employees, including the management team.
"The ‘OKI Compliance Commitment’ just announced constitutes a pledge to OKI's stakeholders that the OKI Group will work to raise awareness of compliance issues and work to thoroughly implement measures to ensure this awareness," said Hisao Suzuki, Executive Vice President and Chief Compliance Officer at OKI. "The ‘OKI Compliance Commitment' also signals the management team’s renewed acknowledgement of the importance of compliance and its desire to take the lead in the area of compliance efforts. Additionally, we have revised the ‘OKI Group Code of Conduct’ from the following perspec tives: (1) foster corporate culture to ‘express, encourage others to express and listen to’ own/their opinions and questions; (2) describe clauses related to financial reporting in greater detail; (3) require management leadership on implementing compliance measures, utilizing a whistle-blowing system, and clarifying disciplinary measures for those falling short of compliance requirements."
The "OKI Compliance Commitment" and the revised "OKI Group Code of Conduct" can be found below:
Moving forward, OKI will strive to implement and promote thorough awareness of the "OKI Compliance Commitment" and the "OKI Group Code of Conduct" among Group employees and management.
About OKI Electric Industry (OKI)
Founded in 1881, OKI Electric Industry is Japan's leading telecommunications manufacturer. Headquartered in Tokyo, Japan, OKI provides top-quality products, technologies, and solutions to customers through its info-telecom systems and printer operations. Its various business divisions function synergistically to bring to market exciting new products and technologies that meet a wide range of customer needs in various sectors. Visit OKI's global website at http://www.oki.com/.
- The names of the companies and products mentioned in this document are the trademarks or registered trademarks of the respective companies and organizations.
- Press Contact:
- Public Relations Division
Phone: +81-3-3501-3835
- * Information in the press releases is current on the date of the press announcement, but is subject to change without prior notice.