Risk Management System
Basic Approach and Policy
Based on the "Policy of Risk Management and Crisis Response" and related rules, the Olympus Group develops global risk management systems, undertaking risk management from the perspective of both "offense" through active and sound risk taking leading to sustainable growth and value creation for the Company and "defense" to prevent illegalities and accidents.
A crisis management process has also been established to minimize the impact of unforeseen incidents on corporate value.
Risk management in each region and organization within the Olympus Group is carried out by the manager of the respective businesses or functions under the directions of executive officers. Priority measures in the business plan are planned and implemented based on the risk assessments. It contributes to managing our businesses based on the business plan with risk transparency from the medium- to long-term perspective and in line with the changes in both the internal and external environments.
Any major incident that is highly likely to affect business management in the Olympus Group is reported promptly to the president and other senior management and handled appropriately by the managers in coordination with relevant divisions.
The Olympus Group strives for thorough infection prevention measures and has set measures such as maintaining physical distance and wearing masks in the workplace, ventilation of facilities and self-restraint on business trips and events. In addition, a global task force will be established if necessary, to ensure business continuity.
Amid the ongoing global spread of COVID-19, the Olympus Group has continued to implement training, demonstration and seminars online, and strives to provide solutions responding to the new environment. In Japan, the Central Task Force led by the regional representative officer was established and employees were advised to work from home from the end of March to the end of May 2020. In response to the termination of the state of emergency across Japan, we relaxed the work-from-home restraints in June 2020 with limited attendance rates. To keep the working environment safe, we established guidelines that take into account the "new lifestyle."
Further, we revised our business continuity plans (BCPs), which conventionally focused on natural disasters, such as earthquakes and storms, to include pandemics, as represented by COVID-19. We are also building viable BCPs with increased focus on the entire value chain. As a part of this effort, we are constantly implementing our disaster prevention and reduction activities such as by formulating the "BCP/BCM Development Guideline". We provide training and drills to employees to improve effectiveness of our BCPs.
We continuously implement every possible measure to keep our products and services available to our customers, giving the highest priority to the health and safety of our employees, medical professionals, patients, and communities.
Risk Management Structure
The Olympus Group's risk management systems clarify the Executive Officer in charge of risks that could affect the achievement of the Company's business targets as well as the corporate strategy (establishing risk assurance) and each Executive Officer executes the necessary measures (organizational structure, process preparation, focus measures, etc.) to keep within the acceptable level their designated area of risks.
In addition, the Olympus Group operates risk management processes with a PDCA cycle of risk assessment (identification, analysis and evaluation of risk and setting countermeasures), implementation of risk countermeasures, monitoring and reporting, and improvement. Risk assessment is linked to the process for formulating the fiscal year plan, with risk evaluated using common company-wide evaluation standards, and company-wide risks visualized and uniformly managed. In addition, the status of response to the Group's key risks are periodically monitored and reported to the Group Executive Committee and the Board of Directors.
We will achieve the "basis Management Policy" through these risk management.