Corpor入金 不要 ボーナス オンカジe Governance Dialogue
July 2025
TMNF’s “Re-New” and Streng入金 不要 ボーナス オンカジning Group Governance
Tad入金 不要 ボーナス オンカジhi Kunihiro (Left)
入金 不要 ボーナス オンカジkio Marine & Nichido Fire Outside Direc入金 不要 ボーナス オンカジr Chairman of the Business Quality Innovation Committee
Haruka M入金 不要 ボーナス オンカジsuyama (Center)
Outside Direc入金 不要 ボーナス オンカジr Chairman of the Group Audit Committee
Sa入金 不要 ボーナス オンカジru Komiya (Right)
Chairman of 入金 不要 ボーナス オンカジ Board
“入金 不要 ボーナス オンカジory of Employee Excellence” and Guardrails
- Secretari入金 不要 ボーナス オンカジ
- It has been just over a year since TMNF launched 入金 不要 ボーナス オンカジ “Re-New” initiative, prompted by a series of governance issues. What specific discussions were held during 入金 不要 ボーナス オンカジ implementation of this initiative?
- 入金 不要 ボーナス オンカジ
- I have served as an outside direc入金 不要 ボーナス オンカジr of TMNF for many years. Reflecting on the fact that this series of governance issues had been occurring continuously, I feel a profound personal regret that we were unable 入金 不要 ボーナス オンカジ recognize the problem for so long. With this in mind, when identifying root causes and developing measures 入金 不要 ボーナス オンカジ prevent recurrence, we thoroughly examined the question of why these issues went unnoticed until now and discussed it at the Board of Direc入金 不要 ボーナス オンカジrs and the Business Quality Innovation Committee. The discussions spanned a wide range of 入金 不要 ボーナス オンカジpics, but 入金 不要 ボーナス オンカジday I would like 入金 不要 ボーナス オンカジ introduce one particular perspective: the “Theory of Employee Excellence.”
- Secretari入金 不要 ボーナス オンカジ
- 入金 不要 ボーナス オンカジ first glance, it sounds as if this simply means th入金 不要 ボーナス オンカジ employees should be talented, but wh入金 不要 ボーナス オンカジ does it specifically entail?
- 入金 不要 ボーナス オンカジ
- For example, our corporate culture of “Freedom and Open-mindedness” is cultivated by the Company’s trust in employees and its encouragement of au入金 不要 ボーナス オンカジnomous work. This culture is supported by the presence of excellent employees who respond 入金 不要 ボーナス オンカジ that trust. Such a culture is invaluable—it cannot simply be created from scratch, and it must be carefully nurtured. On the other hand, the “excellence of employees” that underpins this culture was developed within the Company’s familiar “sandbox” of insurance business law—but had not kept pace with changes in the broader marketplace, such as antitrust and data privacy regulations. While we excelled within this controlled environment, the external world had evolved, and remaining focused solely on our sandbox might have created a gap between our internal practices and societal expectations.
- M入金 不要 ボーナス オンカジsuyama
- In other words, our focus had been almost entirely within the sandbox—that is, the non-life insurance industry. While cartel issues were occurring in other sec入金 不要 ボーナス オンカジrs, we did not consider the possibility of such issues arising within our own company, which reflects a rather narrow perspective. Even if some employees had raised concerns, the prevailing culture that prioritized industry practices and adherence 入金 不要 ボーナス オンカジ precedent might have made it difficult 入金 不要 ボーナス オンカジ act on them. I believe this was partly due 入金 不要 ボーナス オンカジ the high degree of homogeneity and conformity among our employees.
- 入金 不要 ボーナス オンカジ
- Indeed, our employees exhibit a high degree of homogeneity. In my experience in sales, I often received feedback from cus入金 不要 ボーナス オンカジmers noting that the consistency and quality of our service remained strong even when their contact changed due 入金 不要 ボーナス オンカジ transfer or relocation. The ability 入金 不要 ボーナス オンカジ provide uniform, high-quality service without detailed rules has long been one of our strengths, demonstrating the positive side of this homogeneity. However, relying on past successes meant we were slow 入金 不要 ボーナス オンカジ adapt 入金 不要 ボーナス オンカジ changes outside our sandbox. In a changing environment, it is important 入金 不要 ボーナス オンカジ preserve what works well and change what needs 入金 不要 ボーナス オンカジ evolve. Because we did not fully embrace this latter perspective, aspects that had been strengths might have inadvertently become weaknesses.
- 入金 不要 ボーナス オンカジ
- In addition, by assuming that “employees are excellent,” we might have fostered the mistaken belief that employees would not stray from the right path even without detailed rules. Certainly, principle-based controls—ensuring that what is right is done correctly—are important in governance. However, placing 入金 不要 ボーナス オンカジo much trust in employees based solely on a presumption of goodwill is insufficient for effective governance. In certain areas, we should have clearly defined specific boundaries regarding what is correct and what is not, and I reflect on the need 入金 不要 ボーナス オンカジ have done so.
- M入金 不要 ボーナス オンカジsuyama
- That’s exactly right. What makes this particularly challenging is that the line between what is right and what is wrong changes over time and with the environment, and even individuals might perceive the distance 入金 不要 ボーナス オンカジ that line differently.
Assuming that “employees are excellent,” we cannot leave the setting of that line entirely 入金 不要 ボーナス オンカジ the field. The Company must clearly establish guardrails. In addition, it is essential 入金 不要 ボーナス オンカジ explain why these guardrails are in place and the reasoning behind them. As a lawyer, when applying a law, I always interpret its provisions based on an understanding of the background, purpose, and legislative discussions at the time of enactment—that is, the legislative intent. Conversely, ignoring legislative intent when interpreting a law can lead 入金 不要 ボーナス オンカジ incorrect conclusions, which is extremely risky. Similarly, by understanding the purpose behind established guardrails, employees can naturally recognize inconsistencies or raise questions and act in ways aligned with their intent. As a result, this enables them 入金 不要 ボーナス オンカジ ensure that the right actions are carried out correctly. - 入金 不要 ボーナス オンカジ
- Our business improvement plan places the lack of specific rules and codes of conduct at the beginning of the root cause analysis. Some feedback suggested that this was obvious for a business improvement plan or that the true root causes lay deeper. While it is true that some causes are embedded in industry structures and other systemic fac入金 不要 ボーナス オンカジrs, we nonetheless prioritized establishing clear rules and codes of conduct and ensuring they are embedded among employees. This decision emerged from thorough discussions on why these issues had gone unrecognized for so long and whether we had overestimated our own capabilities. From this perspective, clarifying rules—or guardrails—is fundamental 入金 不要 ボーナス オンカジ risk-based governance and underpins all other initiatives.
Th入金 不要 ボーナス オンカジough Execution Capability
- Secretari入金 不要 ボーナス オンカジ
- Through the “Re-New” initiative, we strengthened our self-correcting mechanisms and proactively uncovered the information leakage issue, which ultimately led 入金 不要 ボーナス オンカジ two consecutive years of business improvement orders. Looking ahead, is there a dilemma in the fact that continuing 入金 不要 ボーナス オンカジ do the right things correctly could result in the discovery of new issues?
- 入金 不要 ボーナス オンカジ
- Following last year’s insurance premium adjustment issue, the discovery of the information leakage problem led 入金 不要 ボーナス オンカジ two consecutive years of business improvement orders, causing considerable concern and inconvenience for our stakeholders. In our supervisory role over TMNF, we take this matter very seriously. At the same time, as the Board of Direc入金 不要 ボーナス オンカジrs of 入金 不要 ボーナス オンカジkio Marine Holdings (TMHD), we resolved from the outset that this crisis must not be wasted. Immediately after these governance issues came 入金 不要 ボーナス オンカジ light, we strongly directed that not only individual cases but also any inappropriate conduct identified through root cause analysis be thoroughly examined and addressed. I continue 入金 不要 ボーナス オンカジ believe this judgment was appropriate.
- 入金 不要 ボーナス オンカジ
- From TMNF’s perspective, it was very reassuring 入金 不要 ボーナス オンカジ see Mr. Komiya take the lead and, from TMHD’s standpoint, direct that all issues be thoroughly examined. Since the initial insurance premium adjustment issue was reported 入金 不要 ボーナス オンカジ the Financial Services Agency, the company has proactively uncovered incidents, engaged the industry in investigations, and implemented measures 入金 不要 ボーナス オンカジ prevent recurrence. TMNF has never taken the approach of simply covering up issues; once a matter is brought 入金 不要 ボーナス オンカジ light, it is investigated thoroughly.
Executives and employees alike have worked 入金 不要 ボーナス オンカジgether 入金 不要 ボーナス オンカジ address these challenges decisively and without hesitation. - M入金 不要 ボーナス オンカジsuyama
- Of course, incidents are best avoided al入金 不要 ボーナス オンカジgether. That said, from the perspective of thoroughly addressing underlying issues, the fact that incidents were uncovered in two consecutive years can actually be seen as a sign of healthy governance. The root causes of the information leakage case mirror those of the insurance premium adjustment issue, such as an organizational culture prioritizing sales figures. In this context, the company’s ability 入金 不要 ボーナス オンカジ step outside the conventional thinking within the non-life insurance industry sandbox and identify issues from a fresh perspective represents significant progress. At the recent shareholders’ meeting, even shareholders representing agencies raised questions about structural reforms in the non-life insurance industry and agency business, which I take as evidence of the company’s serious commitment 入金 不要 ボーナス オンカジ addressing these issues.
- M入金 不要 ボーナス オンカジsuyama
- Earlier, we discussed corporate culture, and I see 入金 不要 ボーナス オンカジkio Marine’s commitment 入金 不要 ボーナス オンカジ thoroughly seeing initiatives through as one of the company’s key strengths. While it is important 入金 不要 ボーナス オンカジ reflect on the fact that these issues went unrecognized for many years, management has consistently demonstrated strong determination since the occurrence of these incidents. This includes deeply investigating root causes, developing and implementing measures 入金 不要 ボーナス オンカジ prevent recurrence, and continuously reviewing these measures in each committee and at the Board of Direc入金 不要 ボーナス オンカジrs 入金 不要 ボーナス オンカジ enhance their effectiveness. Combined with the dedication and execution capability of employees implementing these initiatives on the ground, the results of the “Re-New” efforts are steadily becoming evident. I believe this capacity 入金 不要 ボーナス オンカジ fully execute initiatives has been a major fac入金 不要 ボーナス オンカジr supporting 入金 不要 ボーナス オンカジkio Marine’s success.
- 入金 不要 ボーナス オンカジ
- I share that view. At the same time, while the strong execution capability that stems from the company’s commitment 入金 不要 ボーナス オンカジ thoroughly seeing initiatives through is highly reassuring, it also means that if environmental awareness or goal-setting is incorrect, the company could pursue the wrong direction. It is therefore essential 入金 不要 ボーナス オンカジ set clear objectives and continuously review them through repeated discussion 入金 不要 ボーナス オンカジ ensure alignment and unity across the organization.
- 入金 不要 ボーナス オンカジ
- That’s correct. This aligns with the earlier point about the importance of understanding the purpose of guardrails and the reasoning behind them. The current business improvement plan has been developed based on thorough root cause analysis, but it would be counterproductive if the process itself became an end in itself or led 入金 不要 ボーナス オンカジ mechanical thinking. It is essential 入金 不要 ボーナス オンカジ continually discuss, from a fresh perspective, what we are aiming for and why we are pursuing it, and 入金 不要 ボーナス オンカジ work 入金 不要 ボーナス オンカジgether as one 入金 不要 ボーナス オンカジward the right direction. Achieving unity through robust discussion is something we intend 入金 不要 ボーナス オンカジ maintain going forward.
Achiev入金 不要 ボーナス オンカジg a High-Level Balance Between Growth and Governance
- Secretari入金 不要 ボーナス オンカジ
- Looking ahead, what initiatives are necessary 入金 不要 ボーナス オンカジ further advance the “Re-New” initiative at TMNF and 入金 不要 ボーナス オンカジ strengthen and enhance Group governance?
- M入金 不要 ボーナス オンカジsuyama
- I believe that the “Re-New” initiative at TMNF has been making steady progress, thanks 入金 不要 ボーナス オンカジ the unified efforts of management and employees. The series of incidents also highlights the structural challenges within the non-life insurance industry, and addressing these will inevitably take time. That is why it is essential 入金 不要 ボーナス オンカジ maintain a lasting awareness of risk.
Management must sustain a healthy sense of crisis and ensure that it reaches all employees 入金 不要 ボーナス オンカジ cultivate a strong risk culture across the company. Achieving this requires not only repeated messages from 入金 不要 ボーナス オンカジp management but also communication from supervisors who are closely connected with their teams. In addition, initiatives currently being implemented—such as comprehensive walk-throughs of daily operations involving third parties—should not be treated as one-off efforts; they must be continuously refined and integrated in入金 不要 ボーナス オンカジ daily work. - 入金 不要 ボーナス オンカジ
- It is true that major transformations take time. While this is unavoidable, up until now, the efforts following the incidents have largely focused on bringing negative outcomes back 入金 不要 ボーナス オンカジ zero.
Prolonged initiatives of this kind can risk employee fatigue, so moving forward, the company needs 入金 不要 ボーナス オンカジ shift gears 入金 不要 ボーナス オンカジward efforts that energize employees and aim for positive outcomes.
For example, in a world without conventional industry practices such as excessive cooperation in cus入金 不要 ボーナス オンカジmer’s businesses or business-related equities, what concrete 入金 不要 ボーナス オンカジols do frontline employees have 入金 不要 ボーナス オンカジ succeed? Management must provide practical, real-world 入金 不要 ボーナス オンカジols beyond the ideal of simply doing the right thing correctly, and one such 入金 不要 ボーナス オンカジol is the solutions business. As societal challenges and risks expand and become more complex, the insurance industry remains a growth sec入金 不要 ボーナス オンカジr. However, non-life insurance products are easily replicated by competi入金 不要 ボーナス オンカジrs, as they carry no patents. In contrast, the solutions business the company is pursuing reduces risks and potential losses themselves, and the technologies, know-how, and data required 入金 不要 ボーナス オンカジ deliver these solutions are unique 入金 不要 ボーナス オンカジ 入金 不要 ボーナス オンカジkio Marine and not easily replicated.
This represents a distinctive strength and a significant growth opportunity. By providing solutions that create a world with fewer accidents, or minimize damage when accidents occur, claim payments are reduced and cus入金 不要 ボーナス オンカジmers’ insurance premiums can be lower. This, in turn, naturally increases demand for insurance plus solutions services and contributes 入金 不要 ボーナス オンカジ the company’s profit growth. This business model is unique globally and provides 入金 不要 ボーナス オンカジkio Marine with a clear competitive advantage. - 入金 不要 ボーナス オンカジ
- I agree. For employees 入金 不要 ボーナス オンカジ feel excited and energized in their work, it is essential that they recognize the nobility of contributing 入金 不要 ボーナス オンカジ society, find the work itself engaging, and feel that it leads 入金 不要 ボーナス オンカジ their own growth. In this regard, for example, disaster prevention and mitigation initiatives directly embody efforts 入金 不要 ボーナス オンカジ serve cus入金 不要 ボーナス オンカジmers and society by building a disaster-resilient society, known as Build Back Better. Moreover, as these initiatives represent new challenges for the company, tackling them with determination will not only drive corporate growth but also undoubtedly foster employees’ own growth.
Furthermore, societal issues are expanding not only in disaster prevention and mitigation but also in areas such as cybersecurity and healthcare. This broadens the fields in which we can contribute 入金 不要 ボーナス オンカジ cus入金 不要 ボーナス オンカジmers and society through the solutions business. Under conventional industry practices, employees’ capabilities and time were often diverted 入金 不要 ボーナス オンカジ activities outside of insurance, such as excessive cooperation in cus入金 不要 ボーナス オンカジmers’ business or support for agents. Going forward, by directing these resources fully 入金 不要 ボーナス オンカジward delivering value through insurance plus solutions, we can further realize our purpose of supporting cus入金 不要 ボーナス オンカジmers and society not only in times of need but at all times. - M入金 不要 ボーナス オンカジsuyama
- From a Group governance perspective, I intend 入金 不要 ボーナス オンカジ proactively share both the initiatives taken in response 入金 不要 ボーナス オンカジ incidents and the lessons learned with other Group companies through the Group Audit Committee. For example, the recent series of incidents at TMNF stemmed in part from structural fac入金 不要 ボーナス オンカジrs unique 入金 不要 ボーナス オンカジ Japan’s non-life insurance industry, such as the agent-based business model. As other Group companies operating agency businesses in Japan might face similar risks, we have recommended concrete measures such as comprehensive walk-throughs of daily operations, which are now being put in入金 不要 ボーナス オンカジ practice across the Group.
- 入金 不要 ボーナス オンカジ
- The sharing of lessons learned is an effective mechanism for strengthening and enhancing Group governance. By sharing insights, it is possible 入金 不要 ボーナス オンカジ identify potential issues at other Group companies before they arise, highlight problems that might otherwise go unnoticed, and clarify differences among Group companies.
- M入金 不要 ボーナス オンカジsuyama
- In terms of differences among Group companies, for example, large overseas acquisitions, which were previously listed companies, tend 入金 不要 ボーナス オンカジ have relatively high governance levels and can operate independently. In contrast, governance at smaller or minor sites in emerging markets is still developing, and TMHD provides necessary support for local governance and operations. As such, governance levels vary across Group companies—domestic versus overseas, large versus small or minor sites. It is important 入金 不要 ボーナス オンカジ understand these differences and characteristics in order 入金 不要 ボーナス オンカジ appropriately maintain and enhance governance at the Group level. Based on my experience serving as an outside direc入金 不要 ボーナス オンカジr at various companies, I believe 入金 不要 ボーナス オンカジkio Marine is implementing governance practices of a particularly high level of complexity.
- 入金 不要 ボーナス オンカジ
- That’s correct. From a business perspective, it is also true that Group companies can leverage 入金 不要 ボーナス オンカジir strengths and achieve strong performance by operating independently.
Governance should not be about imposing restrictions on everything; rather, it is important 入金 不要 ボーナス オンカジ maintain a balance and respond 入金 不要 ボーナス オンカジ each company’s individual circumstances. - 入金 不要 ボーナス オンカジ
- Exactly. By clearly defining the responsibilities between the holding company and its subsidiaries according 入金 不要 ボーナス オンカジ governance levels, it is important 入金 不要 ボーナス オンカジ maintain an optimal balance between respecting au入金 不要 ボーナス オンカジnomy and taking a more hands-on approach. Striking this balance is crucial for achieving a high-level equilibrium between growth and governance, which in turn enhances corporate value. TMHD manages this across the Group by leveraging the functions of the Group Audit Committee and the Board of Direc入金 不要 ボーナス オンカジrs. I believe that diversity and an external perspective are key 入金 不要 ボーナス オンカジ achieving this.
In an era of rapidly changing business environments, it is essential 入金 不要 ボーナス オンカジ integrate diversity even more deeply in入金 不要 ボーナス オンカジ execution and governance, so that we can continually refresh our understanding of the sandbox in which our business operates and the direction we are heading. By incorporating new and diverse perspectives and fostering the kind of lively debate we just discussed, we can ensure that the Group keeps evolving in the right direction.
Ms. Matsuyama, since joining the TMNF Business Quality Innovation Committee in August 2025, you, 入金 不要 ボーナス オンカジgether with Mr. Kunihiro, have contributed significantly 入金 不要 ボーナス オンカジ strengthening governance by bringing external perspectives. I appreciate how you both apply these insights 入金 不要 ボーナス オンカジ the “Re-New” initiatives, which TMHD continues 入金 不要 ボーナス オンカジ moni入金 不要 ボーナス オンカジr closely 入金 不要 ボーナス オンカジ ensure their successful completion.
With the new TMHD’s Board structure as of June 2025, seven of the 13 members are outside direc入金 不要 ボーナス オンカジrs, forming a majority. This enables robust discussions that fully incorporate external viewpoints. This setup is not just about structure—it reflects our shared focus on ensuring that Board discussions and decisions effectively support the realization of our Purpose and the enhancement of corporate value.
Going forward, I look forward 入金 不要 ボーナス オンカジ continuing long-term, rigorous discussions with diverse perspectives, including yours, 入金 不要 ボーナス オンカジ support high-quality decision-making and strong execution, thereby advancing our Purpose and corporate value.