--Further Enhancing the System for Promoting Compliance
(“NSK”; Headquarters: Tokyo, Japan; President and CEO: Norio Otsuka) announced on June 20, 2012 that it will establish a Compliance Enhancement Office on July 1, 2012 to further strengthen the compliance system.
NSK established a Compliance Committee on March 15 to further strengthen the compliance system as an internal framework at the upper level of management to promote various company-wide compliance measures under the direct guidance and supervision of the president and the executive officers in charge of the divisions. In an effort to further strengthen the compliance system, NSK has decided to establish a Compliance Enhancement Office under the control of the Legal Department, Compliance Division Headquarters, as an organization which is responsible for all compliance-related operations of the NSK Group based on policies and measures to strengthen compliance which the Compliance Committee formulates.
The Compliance Enhancement Office is a department specializing in all compliance related operations previously implemented by NSK’s Compliance Division Headquarters and will be responsible for planning, implementing, confirming and correcting these operations in conjunction with and while obtaining the requisite support from the Legal Department.
Under the new compliance framework described above, NSK aims to step up its efforts on a company-wide basis to ensure that the business activities of the entire company adhere strictly to applicable laws and regulations, and that they are conducted based on its social responsibilities as a corporation.
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