Risk Management Initiatives
Daicel established the Risk Management Committee in 2006 as an organization to coordinate and promote Companywide risk management activities. Since its establishment, the Risk Management Committee has guided the entire Company in aggressively conducting risk management activities.
Each department within the Company is taking stock of potential risks that could have a major impact on Daicel’s ability to achieve its business targets. To fully assess the situation, the Company’s risk countermeasures and initiatives are entered into an intranet database. Countermeasures and initiatives are designed to prevent the incidence of risk or to reduce any subsequent impact. Each department assigns a priority level to each risk and carries out countermeasures accordingly. Steps are also taken to regularly update the status and progress of countermeasure implementation and any newly identified risks are promptly entered into the database. Utilizing this database, Daicel pursues a check, act, plan and do (CAPD) cycle in conjunction with the risk management activities of each department. Similar risk management activities are undertaken by Group companies in Japan and overseas*.
The Risk Management Committee periodically confirms the status of countermeasure implementation by each department and Group company. Recommendations and support are then provided as considered appropriate. In addition, summary activity reports are submitted by each department at the end of each fiscal year. This process enables all appropriate parties to fully grasp the status of risk.
In FY2018/3, Daicel identified two key points that need further evaluation: risks related to managing work time at workplaces and risks of being drawn into international conflicts or terrorist activities. The Group promoted the re-evaluation of these risks and the formulation of response measures.
*Certain overseas Group companies are excluded from using the database.