Basic Policy for Risk Management
Fuji Xerox defines risk management as managerial activities that control risk by identifying risk-related events, assessing the likelihood and impact of risks, deciding on and implementing appropriate countermeasures, communicating and reporting relevant information, and monitoring results and correcting problems.
The Fuji Xerox companywide Risk Management Rules specify how risk is to be managed in the business activities of not just Fuji Xerox but also all of our domestic and foreign affiliates and sales companies. Based on these rules, we deal with any crises that may occur, but also place importance on managing risk in normal times such as product accidents in formation accidents and non-compliance.
Contingent risks in particular are managed according to the frequency of their occurrence and the extent of their impact on business. For each such risk, the rules stipulate who has responsibility and authority, as well as the planning and implementation of countermeasures.
Basic Policy for Risk Management
To maximize value for stakeholders by appropriately controlling and responding to risks in all organizational units and businesses
2) Prerequisites for control
- Risk management covers all organizational units, businesses and tasks.
- Risks are identified and decisions on countermeasures are made systematically and rationally.
- Rational and effective responses are determined in accordance with the potential impact and likelihood of risks.
- Rules and records are thoroughly documented to promote shared understanding by all involved and to strengthen accountability.
- The effectiveness of the establishment, operation and maintenance of risk management systems is assessed in each business year.
- Sufficient management resources are deployed, effective communications are conducted, and employees are effectively motivated and assessed for evaluation.
Risk Management Promotion System
At Fuji Xerox, all important decisions related to risk management are made by the CSR Committee, which is chaired by the executive responsible for risk management. All-FX Risk Response Examining Unit will be convened to assist the CSR Committee if an issue arises involving the management of a particular risk.
Fuji Xerox's Initiatives in Fiscal 2014
Each year, Fuji Xerox sets priority themes for risk management according to social trends, environmental changes, the company's business activities, the frequency of occurrence of anticipated risks, the extent of their impact on business, and changes in the business system and in social conditions.
In fiscal 2014, we continued our efforts from the previous year to move forward with disaster-prevention countermeasures for large-scale natural disasters based on lessons from the Great East Japan Earthquake. We also identified the most pressing risks for the Company and discussed countermeasures at meetings of the CSR Committee.
Incorporating the lessons of the Great East Japan Earthquake in Disaster-Prevention Activities
The following measures incorporate some of the lessons learned from our review of responses to the March 11, 2011, Great East Japan Earthquake, particularly in areas directly affected by the disaster:
- Renewed study of the potential impact of tsunamis
- Drills to ensure the safety of employees and their families
- Improve and increase stored supplies (food, water, emergency supplies)
- Efforts to standardize emergency radio units and reviewing the facilities to which they are distributed
- Efforts to enhance business continuity planning with respect to product supply
- Initial mobilization drill for the Integrated Response Headquarters
- Deployment of disaster-prevention rules for major earthquakes at affiliates
- Preparation of an initial mobilization manual
- Assignment of emergency facility managers
- Conduct safety inspections at the locations
Countermeasures for New Strains of Influenza
Since fiscal 2005, we have continued the following measures to respond to potential pandemics caused by new strains of influenza:
- Measures that give priority to protection of employees based on the action plan developed in accordance with the Guideline for Action Against Pandemic Influenza.
- Reinforcement of the business continuity plans for deployment in the event of a pandemic and renewal of the emergency organization.
In fiscal 2015, we will continue to strengthen disaster prevention/mitigation and business continuity efforts in all business domains to ensure that the experiences and lessons learned from the Great East Japan Earthquake are not forgotten. The CSR Committee will review these efforts on a regular basis.
We will also steadily implement company-wide countermeasures based on the above guidelines in preparation for pandemics of new strains of influenza or other infectious diseases.