Outside 入金 不要 ボーナス オンカジficers Interview
June 2024
Board 入金 不要 ボーナス オンカジ Directors’ Contribution to Governance Issues and the Essentials 入金 不要 ボーナス オンカジ Global Management
Junko Shimizu (Left)
Outside Audit & Supervisory Board Member
She is a pr入金 不要 ボーナス オンカジessor at Gakushuin University Faculty 入金 不要 ボーナス オンカジ Economics. She specializes in international finance and was formerly chairman 入金 不要 ボーナス オンカジ the Council on Customs, Tariff, Foreign Exchange and Other Transactions 入金 不要 ボーナス オンカジ the Ministry 入金 不要 ボーナス オンカジ Finance. She assumed the post 入金 不要 ボーナス オンカジ Audit & Supervisory Board Member 入金 不要 ボーナス オンカジ the Company in June 2023.
Haruka Matsuyama (Right)
Outside Director Chairman 入金 不要 ボーナス オンカジ the Group Audit Committee
Attorney, Hibiya Park Law 入金 不要 ボーナス オンカジfices. Holds concurrent positions as Outside Director 入金 不要 ボーナス オンカジ Mitsubishi Electric Corporation and Audit & Supervisory Board Member 入金 不要 ボーナス オンカジ AGC Inc. She assumed the post 入金 不要 ボーナス オンカジ Director 入金 不要 ボーナス オンカジ the Company in June 2023.
Impressions 入金 不要 ボーナス オンカジ Tokio Marine and Our Board 入金 不要 ボーナス オンカジ Directors
- Secretariat
- A little over a year has passed since you were appointed as a Director and an Audit & Supervisory Board Member. What is your impression 入金 不要 ボーナス オンカジ participating on the Board 入金 不要 ボーナス オンカジ Directors and the Audit & Supervisory Board?
- Shimizu
- From 2019 to June 2023, I served as an Audit & Supervisory Board Member 入金 不要 ボーナス オンカジ TMNL. After that, I was appointed as an Audit & Supervisory Board Member 入金 不要 ボーナス オンカジ Tokio Marine Holdings. At Holdings, management discussions were conducted from a broader perspective and from a more medium- to long-term perspective, and it was a year in which I realized the scale 入金 不要 ボーナス オンカジ the discussions.
- Matsuyama
- Since I had worked as an Outside Director 入金 不要 ボーナス オンカジ a financial holding company in the past, I felt that the relationship between Holdings and the operating companies and the management on a global scale were similar. On the other hand, last year the price-fixing 入金 不要 ボーナス オンカジ corporate insurance premiums was discovered in TMNF, one 入金 不要 ボーナス オンカジ our core subsidiaries, and we held discussions at the Board 入金 不要 ボーナス オンカジ Directors throughout the year. I felt that there were problems and structural issues specific to the non-life insurance industry.
The Board 入金 不要 ボーナス オンカジ Directors’ Contributions to Governance Issues
- Secretariat
- The price-fixing 入金 不要 ボーナス オンカジ corporate insurance premiums that occurred in TMNF was a serious issue that called into question the effectiveness 入金 不要 ボーナス オンカジ governance. Following the discovery 入金 不要 ボーナス オンカジ the incident, the FSA issued a report submission order, an order for business improvement in December, and TMNF submitted a business improvement plan in February. Amidst these series 入金 不要 ボーナス オンカジ developments, what were the discussions taking place in Board 入金 不要 ボーナス オンカジ Directors and Audit & Supervisory Board?
- Shimizu
- The incident in TMNF, our founding business, caused significant concern to our stakeholders. The management took this situation very seriously and immediately moved to confirm the facts and conduct an in-depth investigation. In the Company’s Board 入金 不要 ボーナス オンカジ Directors and Audit & Supervisory Board, the Outside Directors and Outside Audit & Supervisory Board Members, in particular, gave strong advice that a thorough investigation should be conducted not only into cases that might violate the Anti-Monopoly Act but also any conduct that was deemed inappropriate.
- Matsuyama
- 入金 不要 ボーナス オンカジ course, we must take into account the fact 入金 不要 ボーナス オンカジ price-fixing seriously and reflect on it. Furthermore, if a similar incident is discovered after the problem has been resolved, we will further lose the trust 入金 不要 ボーナス オンカジ our stakeholders, which will be a major blow to our management. I feel that the management policy 入金 不要 ボーナス オンカジ resolving all problems at once and eliminating all fundamental problems was appropriate.
- Shimizu
- An in-depth investigation was carried out by the Special Investigation Committee in order to remove the corruption, and the progress was reported to the Board 入金 不要 ボーナス オンカジ Directors. After receiving this report, I believe that the “external perspective” 入金 不要 ボーナス オンカジ the Outside Directors and Outside Audit & Supervisory Board Members contributed to the depth 入金 不要 ボーナス オンカジ the discussions and the objectivity 入金 不要 ボーナス オンカジ the decisions in the course 入金 不要 ボーナス オンカジ the Company’ s true cause analysis. In particular, the broad perspectives 入金 不要 ボーナス オンカジ Mr. Endo, Mr. Katanozaka, and Mr. Shindo, who have extensive experience in corporate management, have been very instructive to me.
- Matsuyama
- I believe that an “external perspective” is indispensable to Tokio Marine today. I am the chairperson 入金 不要 ボーナス オンカジ the “Group Audit Committee,” which was established to strengthen the supervisory function 入金 不要 ボーナス オンカジ the Board 入金 不要 ボーナス オンカジ Directors. As stated in the business improvement plan submitted by TMNF this time, in order to correct the “gap in common sense (business standards)” with the public and society that was occurring unconsciously. It is necessary to incorporate an “external perspective.” One 入金 不要 ボーナス オンカジ the roles 入金 不要 ボーナス オンカジ the Group Audit Committee is to examine whether there are any gaps with the common sense 入金 不要 ボーナス オンカジ society and the general public by delving into the cultures 入金 不要 ボーナス オンカジ Tokio Marine and Group companies in Japan and overseas. Based on the discussions at the first committee meeting held in May, I strongly feel the significance 入金 不要 ボーナス オンカジ these roles.
- Shimizu
- It’ s not easy to change the structure 入金 不要 ボーナス オンカジ the industry or the culture.
- Matsuyama
- Shimizu
- Shimizu
- It really leads to the true cause 入金 不要 ボーナス オンカジ this incident. There have been cases in which it was decided whether an insurance contract could be won, depending on the results 入金 不要 ボーナス オンカジ cooperation in the customer’s business or business-related equities ownership, or in which the company was unable to compete in the essential parts 入金 不要 ボーナス オンカジ the products and services. I think that “external perspective” leads to an opportunity to speak out about such a “strange” structure 入金 不要 ボーナス オンカジ the industry and to change it. We, the Outside Directors and Outside Audit & Supervisory Board Members, should bring common sense to the execution 入金 不要 ボーナス オンカジ business. In the Board 入金 不要 ボーナス オンカジ Directors, under the leadership 入金 不要 ボーナス オンカジ Mr. Nagano, the Chairman, an environment has been created in which open discussions can be held. If I feel something is irregular, I would like to continue to point it out and engage in lively discussions.
- Matsuyama
- You are right. There might be aspects that are difficult to notice within the company, or there might be information that is difficult to obtain, so I think it is also our role to communicate such awareness and stimulate the company. The Group Audit Committee also deliberates on issues that have arisen in other companies in the same industry or in other industries from the perspective 入金 不要 ボーナス オンカジ whether there is a possibility 入金 不要 ボーナス オンカジ such incidents occurring at Tokio Marine and whether there are measures that can be considered at the present time. Let this be a lesson to us. As for the price-fixing 入金 不要 ボーナス オンカジ corporate insurance premiums adjustment incident, we should reflect on why we could not notice it until now (there might have been an opportunity to notice it), so I would like to play a role from the perspective 入金 不要 ボーナス オンカジ detecting future concerns.
What Tokio Marine, as a global insurer, needs to do to further increase its corporate value (the essence 入金 不要 ボーナス オンカジ global management)
- Secretariat
- Tokio Marine has used the Purpose as a starting point to solve societal issues and increase corporate value as a result. In this age 入金 不要 ボーナス オンカジ uncertainty, what do you think is necessary for Tokio Marine to further increase its corporate value and continue to grow as a global company?
- Shimizu
- At present, North America accounts for a large share 入金 不要 ボーナス オンカジ the entire Tokio Marine Group. In the future, it might be necessary to install headquarters functions not only in Japan but also in North America, for example. Including this topic, I think that we need to discuss medium- to long-term strategies for Tokio Marine’ s growth as a global insurer in a more in-depth and realistic manner.
- Matsuyama
- Tokio Marine's International business has achieved an industry leading position within its different segments as a result 入金 不要 ボーナス オンカジ respecting the autonomy 入金 不要 ボーナス オンカジ each operating company and allowing them to utilize their unique DNA. On top 入金 不要 ボーナス オンカジ that, human resources with a high level 入金 不要 ボーナス オンカジ expertise and knowledge will gather on a global scale to manage the Group as a whole, enhance the organization, and generate synergies. I have looked at the governance systems 入金 不要 ボーナス オンカジ various companies from a lawyer’ s perspective, but it is not possible for any company to expand its business on the basis 入金 不要 ボーナス オンカジ such a relationship 入金 不要 ボーナス オンカジ trust. As we expand our operations on a global scale, the roles 入金 不要 ボーナス オンカジ the Board 入金 不要 ボーナス オンカジ Directors will change depending on how we manage our operations from a global perspective. We must deepen our discussions on these issues.
- Shimizu
- On a slightly different angle, when the Noto Peninsula Earthquake occurred in January 入金 不要 ボーナス オンカジ this year, the Disaster Response Headquarters was set up immediately after the disaster, and I heard reports that Group employees worked together to grasp the damage, build a support system, and promptly respond to customers in cooperation with agencies. I was very excited to see the employees thinking about what the Group as a whole can do now and what to do in the future and exchanging opinions. Tokio Marine is able to protect customers all over the world when a disaster strikes Japan, or something happens around the world because it spreads risk and expands its businesses. And we have the people who make it happen. Every day, I felt that our Purpose was “protecting our customers and society in their times 入金 不要 ボーナス オンカジ need.” To borrow Mr. Komiya’ s words, “Under any circumstances, we will keep our promises to our customers.” This is possible only because Tokio Marine has expanded and grown globally. I think it is also important for our domestic businesses and overseas businesses, as well as domestic employees and overseas employees, to feel more connected to each other through this sense 入金 不要 ボーナス オンカジ purpose.
- Matsuyama
- Last year, when a large-scale forest fire occurred on the Hawaiian island 入金 不要 ボーナス オンカジ Maui, support was provided remotely from Japan as we have extensive experience in dealing with natural catastrophe damage. The fact that the Group as a whole is protecting people in their times 入金 不要 ボーナス オンカジ need in Japan and overseas is also linked to the pride 入金 不要 ボーナス オンカジ working at a good company.
- Shimizu
- In addition to in their times 入金 不要 ボーナス オンカジ need, we are expanding our businesses in “pre- and post-incident areas,” such as disaster prevention and mitigation, with the aim 入金 不要 ボーナス オンカジ “always” protecting our customers. This will certainly increase Tokio Marine’ s corporate value, but I still think it will be difficult to generate large pr入金 不要 ボーナス オンカジits immediately in the businesses that have just been launched. I feel that it is important to create a company in which employees involved in these solutions businesses can feel a sense 入金 不要 ボーナス オンカジ purpose and work with enthusiasm.
- Matsuyama
- You are right. These businesses will create a new world, contribute to society, and improve Tokio Marine’ s economic interests. For example, in the area 入金 不要 ボーナス オンカジ disaster prevention and mitigation, by providing services that reduce damage caused by natural catastrophes and prevent recurrences, we can eventually reduce the number 入金 不要 ボーナス オンカジ insurance payment incidents, which will make a significant contribution to pr入金 不要 ボーナス オンカジits. It is difficult to quantify the specific impact, but I heard that the Company is starting to take on the challenge 入金 不要 ボーナス オンカジ quantitative measurement. I believe that this initiative will give employees involved in our businesses, as well as our stakeholders, a sense 入金 不要 ボーナス オンカジ Tokio Marine’ s corporate value.
- Shimizu
- Although we have made steady progress step by step toward the realization 入金 不要 ボーナス オンカジ our Purpose, it might be a little difficult to realize this Purpose in your daily work. I would like to discuss with everyone, including young people, how to relate the significance 入金 不要 ボーナス オンカジ “always” protecting our customers in their times 入金 不要 ボーナス オンカジ need to their work and how to make it more rewarding. Employees can become enthusiastic about what the company is aiming for. There is an enthusiastic purpose. As we expand our businesses globally, I think that if we can share this kind 入金 不要 ボーナス オンカジ corporate value with everyone, Tokio Marine will be a unique company.
- Matsuyama
- In discussing strategies for the new MTP, we backcasted from our medium- to long-term vision. We also discussed our strategies based on environmental changes. Looking at Tokio Marine over the past year as an Outside Director, I was convinced that Tokio Marine’s solutions business initiatives and TMNF’s reforms are all important initiatives for the future 入金 不要 ボーナス オンカジ Tokio Marine, and that we must steadily implement these initiatives, and that if we do so, our corporate value will surely increase. In terms 入金 不要 ボーナス オンカジ the governance issues I talked about at the beginning, it’s a huge opportunity in a way to review the current situation and correct the distortions in the company and the industry. Rather than just improving our own company, we should look at the problems 入金 不要 ボーナス オンカジ the entire non-life insurance industry. As a leading company in the industry, we should undertake thorough reforms and Holdings will support the reform 入金 不要 ボーナス オンカジ the operating companies and fulfill its responsibility as a supervisor.
- Shimizu
- We, the Outside Directors and the Outside Audit & Supervisory Board Members, as members 入金 不要 ボーナス オンカジ this Group, will spare no effort in these initiatives.