YAMASHIN-FILTER CORP. and its subsidiaries (‘our group’ hereinafter) have established the following basic policies on efficient and effective design and operation of internal controls for financial reporting as follows:
Representative Director / President Atsuhiko Yamazaki
Our group has formulated the concept of ensuring the reliability of financial reporting in the ‘the Basic Policy on Internal Control’ and will contribute to society through the filtration industry. This is our duty for stakeholders such as investors, business partners, employees and the local communities we serve.
2. Inspection and Assessment of Design and Operation of Internal Control
In accordance with Financial Products Exchange Law of Japan, our group shall inspect and assess the design and operation of internal control. While inspecting and assessing the design and operation of internal control, it is necessary to be designed to mitigate risks which threaten the reliability of financial reporting.
3．Assessment Standards for Internal Control
In assessing internal control over financial reporting, our group shall adopt ‘Revision of the Standards and Practice Standards for Management Assessment and Audit concerning Internal Control over Financial Reporting (Council Opinions)’released by Financial Services Agency of Japan as standards generally accepted and follow the contents of description.
4．Procedures of Assessment of Internal Control Design and Operation
The procedures of assessment of internal control design and operation shall be specified in ‘Plan on Assessment of Internal Control Design and Operation over Financial Reporting’, which is established each fiscal year. The implementation of procedures and the results of assessment needs to be approved by the president of YAMASHIN-FILTER CORP.