In accordance with the Group Risk Management Rules, the Oiles Group identifies risks that may impact Oiles Corporation and its subsidiaries, centrally grasps and prevents them. If any risk occurs, we will swiftly and effectively address it to minimize damage and to avoid recurrence in order to maintain our Group’s corporate value.
Through the Risk Management Committee, an advisory body to the Board of Directors, Oiles aims to reduce the frequency and impact of risks by consolidating information and strengthening management. The Committee shall comprehensively assess the risk situation of the Oiles Group and regularly confirm the status of the response to such risks. The committee promotes the strengthening of the Group's risk management response based on the degree of impact and likelihood of occurrence of risks, and reports regularly to the Board of Directors.
With a variety of information, we identify business risks by conducting questionnaires and interviews with all related departments. We then classify and organize identified risks under potential impact categories: management strategy, business continuity, compliance, tax and financial reporting, disputes, and others. Given prevailing social trends, we take the appropriate measures to prevent and deal with these risks. We particularly include information on business risks that could significantly impact management in our securities reports to deepen understanding with our investors and receive the appropriate market evaluation.
The Oiles Group appropriately manages and protects information assets related to all resources, including people, things, and environments associated with our business operations. It also formulates regulations on information security to counter cyber attacks and other threats. The entire Group addresses security measures in accordance with the regulations. Moreover, from the perspective of the importance of information asset management, we offer ongoing training to all employees handling information assets to ensure thorough information asset management.
As part of our efforts to strengthen information security, we acquired ISO/IEC 27001:2013 information security management systems certification in June 2022.
ISO Certification
The Oiles Group formulates a business continuity plan (BCP) to prepare for large-scale earthquakes and other contingencies. Our BCP's basic policy is to prioritize human life's safety while striving for early recovery of business and develop action plans for emergencies and disaster mitigation. In addition, we are promoting infection prevention measures against breakouts of COVID-19 in the workplace. Going forward, we aim to continue developing our BCP and BCM (business continuity management).
