Leopalace21 (TYO:8848) has agreed to partially revise its basic policy for its internal control system, strengthening governance and ensuring compliance in line with its new corporate philosophy system, Mission, Vision, Value, and Credo, according to a Friday filing on the Tokyo Stock Exchange.
The Japan-based company said under the new framework, its representative directors, president, and CEO will ensure compliance with laws, regulations, and social ethics in conducting business operations.
Independent outside directors will also be at least one-third of the total number of board members to better monitor compliance and ensure transparency and management fairness.