SlideShare uma empresa Scribd logo
1 de 12
CORPORATE GOVERNANCE
Page 1
Company Profile
Indus motor was incorporated in 1989 as a joint venture company between the House
of Habib of Pakistan, Toyota Motor Corporation and Toyota Tsusho Corporation of
Japan. The Company manufactures and markets Toyota and Daihatsu brand vehicle in
Pakistan. The main product offerings include. Several variants of the flagship 'Corolla' in
the passenger cars category, 'Hit, in the light commercial vehicles segment and ‘For
tuner' in Sport Utility Vehicle Segment
The manufacturing facility and offices are located at a 100 acre site in Port Qasim,
Karachi while the product is delivered to end customers nationwide through a strong
network of 37 independent 3S Dealerships spread across the country. In its 24 years
history since inception, IMC has sold more than 500,000 vehicles and has demonstrated
an impressive growth, in terms of volumetric increase from a modest beginning of 20
vehicles per day production in 1993 to MO units daily at a present through the
development of human talent embracing the 'To, Way' of quality and lean
manufacturing. Over the years, IMC has made great scale investments in enhancing its
own capacity and in meeting customer requirements for new products.
Today, Corolla is the largest selling automotive brand model in Pakistan and it
also has the distinction of being no.1 in Toyota's Asian market.
The Company invests heavily in training its 20,000 plus work force of team members and
management employees and creating a culture of high performing empowered teams
working seamlessly across processes in search of quality to pursue high standards of
business ethics and safety.
The bi-annual TMC morale surveys show employees giving a high positive score
to the IMC work environment and level of job satisfaction.
The Company has played a major role in the development of the entire value
chain of the local auto industry and is proud to have contributed in poverty alleviation at
the grass root level of nurturing localization that in tum has directly created thousands
of job opportunities and transferred technology to 60 vendors supplying parts. IMC is
also a major tax payer and significant contributor towards GOP.
CORPORATE GOVERNANCE
Page 2
Vision:
“To be the most respected and successful enterprise, delighting customers with a wide
range of products and solutions in the automobile industry with the best technology."
Mission:
 Respect & Corporate Image
 Quality & Safety
 Customer Satisfaction
 Production & Sales
 Profitability
 Best Employer
CORPORATE GOVERNANCE
Page 3
Board of Directors
The board of Toyota Indus Motors comprises of 9 members, their names and details are
given below.
Ali S. Habib (Chairman):
Ali S. Habib is the Chairman of Indus Motor Company Ltd., he is also the founding
director of the company.
Keiiichi Murakami(Vice Chairman):
He was elected as a member of the board and appointed as Vice Chairman of the
company.
Parvez Ghias (CEO & Director):
He has been the Chief Executive Officer and director of the company.
FarhadZulficar:
He is the founding director of Indus Motor Company Ltd. He was the first managing
director of the company.
S. Mohamedali R. Habib:
He is also the founding director for the company.
Kyoichi Tanada:
He was appointed as the director of the company.
MitoshOkimoto:
He was appointed as the director and is serving the company as senior director.
Hiroyuki Niwa:
He has been associated with the Toyota Corporation. He was appointed as a
director for Indus Motors.
CORPORATE GOVERNANCE
Page 4
Raza Ansari:
He was elected as a non-executive director of the company. He was also a member of
the audit committee.
COMMITTEES
The Indus Motor Company has 6 committees the names and the details are given below.
Board Human Resource and Remuneration Committee:
The remuneration committee is a sub-committee of the board. It recommends human
resource management policies to the Board. It also recommends selection, evaluation,
compensation and succession plan of the CEO and Senior Management who directly
report to the CEO.
Board Ethics Committee:
This committee has the responsibility of overseeing ethical policies and compliance by
the company.
Investment Committee:
This committee assists the board in fulfilling its oversight responsibility for the
investment in assets of the company. It evaluates the capital expenditures required to
be made and recommends the same to the board for approval. It is also responsible for
formulating the overall polices for investment in fixed assets.
Marketing Technical Co-ordination Committee:
This committee also controls new products or minor model specification changes and
schedules.
Management Committee:
This committee is responsible for monitoring of organization operations. It also reviews
departmental targets and accomplishments achieved during the month. In addition it
CORPORATE GOVERNANCE
Page 5
reviews government regulatory affairs including macro-economic situations which
results in formation of the company's strategy and risk management policies.
Safety Health and Environment Committee:
This committee meets on a monthly basis and keeps a close eye on the company wide
trends, relevant local laws compliance, promulgating drive and focus on issues
prevailing on the shop floor and ways to resolve them via efficient and swift decision
making. This committee is chaired by the CEO who formulates policies.
Statement of Compliancewith the Code
of Corporate Governance
 This statement is being presented to comply with the Code of Corporate
Governance (CCG) contained in Regulation 35 of the Listing Regulations of the
Karachi Stock Exchange Limited, Lahore Stock Exchange Limited and Islamabad
Stock Exchange Limited, for the purpose of establishing a framework of good
governance, Whereby a listed company is managed in compliance with the best
practices of corporate governance.
 The Company has applied the principles contained in the CCG in the following
manner:
 The Directors have confirmed that none of them is serving as a director in more
than seven listed company including this Company.
 All the resident directors of the Company are registered as taxpayers and none of
them has defaulted in payment of any loan to a banking company.
 The Company has prepared a "Code of Conduct”.
 The Board has adopted a Vision / Mission statement, overall corporate strategy
and significant policies of the Company prepared by the management.
 All the powers of the Board have been duly exercised and decisions on material
transactions, including appointment and determination of remuneration and
terms and conditions of employment of the Chief Executive and other executive
directors, have been taken by the Board.
CORPORATE GOVERNANCE
Page 6
 The meetings of the Board were presided over by the Chairman and the Board
met at least once in every quarter.
 During the year, the Board has arranged orientation comes for the Directors.
 The Board has approved the appointment of Chief Financial Officer (CFO), Company
Secretary and Head of Internal Audit, including their remuneration and terms and
conditions of employment
 The Directors' Report for the year has been prepared in compliance with the
requirements of the CCG.
 The financial statements of the Company were duly endorsed by the CEO and the CFO
before approval by the Board.
 The Company has complied with all the corporate and financial reporting requirements
of the CCG.
 The Board has formed an Audit Committee.
 The meetings of the Audit Committee were held at least once every quarter.
 The Board has formed an HR and Remuneration Committee.
 The Board has set-up an effective internal audit function within the Company.
Auditors:
A.F. Ferguson & Co. Chartered Accountants.
CORPORATE GOVERNANCE
Page 7
Toyota Motor Corporation CSR policy
CSR Policy:CONTRIBUTION TOWARDS
SUSTAINABLE DEVELOPMENT:
In order to contribute to sustainable development, they believe that the management
interacting with stakeholders as described below is of considerable importance:
Customers:
Based on philosophy of "Customer First", they develop and provide innovative, safe and
outstanding high quality products and services that meet a wide variety of customers'
demands to enrich the lives of people around the world.
Employees:
They respect their employees and believe that the success of our business is led by each
individual’s creativity and good teamwork. They support equal employment
opportunities, diversity and inclusion for their employees. They strive to provide fair
working conditions and to maintain a safe and healthy working environment for all our
employees.
Business Partners
Whenever we seek a new business partner, we are open to any and all candidates,
regardless of nationality or size, and evaluate them based on their overall strengths.
Shareholders
They strive to enhance corporate value while achieving a stable and long-term growth
for the benefit of shareholders.
CORPORATE GOVERNANCE
Page 8
Global Society/Local Communities
Environment:
They aim for growth that is in harmony with the environment by seeking to minimize
the environmental impact of business operations, such as by working to reduce the
effect of vehicles and operations on climate change and biodiversity. They strive to
develop, establish and promote technologies enabling the environment and economy to
coexist harmoniously and to build close and cooperative relationships with a wide
spectrum of individuals and organizations involved in environmental preservation.
Community:
They implement the philosophy of "respect for people" by honoring the culture,
customs, history and laws of each country. They constantly search for safer, cleaner and
superior technology that satisfies the evolving needs of society for sustainable mobility.
Social Contribution Wherever they do business, they actively promote and engage, both
individually and with partners in social contribution activities that help strengthen
communities and contribute to the enrichment of society
CORPORATE GOVERNANCE
Page 9
Guiding Principles at Toyota
1. Honor the language and spirit of the law of every nation.
2. Respect the culture and customs of every nation and contribute to economic and
social development through corporate activities in their respective communities.
3. Dedicate business to providing clean and safe products and to enhancing the quality
of life everywhere through all of our activities.
4. Create and develop advanced technologies and provide outstanding products and
services that fulfill the needs of customers worldwide.
5. Foster a corporate culture that enhances both individual creativity and the value of
teamwork, while honoring mutual trust and respect between labor and management.
6. Pursue growth through harmony with the global community via innovative
management.
7. Work with business partners in research and manufacture to achieve stable, long-
term growth and mutual benefits. While keeping ourselves open to new partnerships.
Five Main Principles of Toyota:
CORPORATE GOVERNANCE
Page 10
1. Always be faithful to your duties, thereby contributing to the company and to the
overall good
2. Always be studious and creative.
3. Always be practical.
4. Always strive to build a homelike atmosphere at work that is warm and friendly.
5. Always have respect for spiritual matters, and remember to be grateful at all
times.
Board Audit Committee
The board Audit committee comprises of five non-executive directors, including the
Chairman of the Board Audit Committee, The terms of references of the committee
include reviews of annual and quarterly financial statements, internal audit report,
information before dissemination to stock Exchange and proposal for appoint of
external auditors for approval of the shareholders, apart from other matters of
significant nature.
Appointment of Auditors
The present auditors, M/s A.F. Ferguson & Co. Charted Accountants retire at the
conclusion of the meeting and being eligible: offer themselves for re-
appointment. The directors endorse recommendation of the Audit Committee for
Re-appointment of M/s A.F. Ferguson & Co., as the auditors for the financial year
2013-2014.
CORPORATE GOVERNANCE
Page 11
Code of Corporate Governance
 The Board members are pleased to state that the management of the Company is
committed to good corporate governs and complying with the best practice. In
compliance with the code of corporate Governs, the directors are pleased to
state as follows:
 The financial statement prepared by the management of the company present
fairly its state of affairs, the result of its operations, cash flows and changes in
equity.
 Proper books of accounts of the company have maintained.
 Appropriate accounting policies have been consistently applied in preparation of
the financial statement and according estimates are based on reasonable and
prudent judgment.
 International Financial reporting Standards, as applicable in Pakistan, have been
followed in preparation of the financial statements.
 The system of internal control is sound in design and has been effectively
implemented and monitored.
 There are no significant doubts upon the Company's ability to continue as a going
concern.
 There has been no material departure from the best Practices of corporate
governs as detailed in the listing regulations.
Recommendation
 The board of directors focuses on supervision of executive officers.
CORPORATE GOVERNANCE
Page 12
 Evaluate board and director performance and pursue opportunities for
improvement.
 Effective risk management supports better decision making because it develops a
deeper insight into the risk-reward trade-offs that all organizations face.

Mais conteúdo relacionado

Mais procurados

Production Management - Honda
Production Management - HondaProduction Management - Honda
Production Management - HondaSanchit
 
SWOT Analysis of TOYOTA and 4 major management functions of TOYOTA
SWOT Analysis of TOYOTA and 4 major management functions of TOYOTASWOT Analysis of TOYOTA and 4 major management functions of TOYOTA
SWOT Analysis of TOYOTA and 4 major management functions of TOYOTAZishanKamboh
 
Toyota strategy
Toyota strategyToyota strategy
Toyota strategyAjit Kumar
 
Indus motors
Indus motorsIndus motors
Indus motorsanaswakil
 
Toyota Pakistan Project Report
Toyota Pakistan Project ReportToyota Pakistan Project Report
Toyota Pakistan Project ReportTariq Mehmood
 
Pak suzuki motore project HRM
Pak suzuki motore project HRMPak suzuki motore project HRM
Pak suzuki motore project HRMRehman khan shama
 
LOCATION & Layout Analysis @ MARUTI SUZUKI
LOCATION & Layout Analysis @ MARUTI SUZUKILOCATION & Layout Analysis @ MARUTI SUZUKI
LOCATION & Layout Analysis @ MARUTI SUZUKISonu Sah
 
maruti suzuki overview
maruti suzuki overviewmaruti suzuki overview
maruti suzuki overviewNaga G
 
Market Entry Strategy - Tata Xenon in Malaysia
Market Entry Strategy - Tata Xenon in MalaysiaMarket Entry Strategy - Tata Xenon in Malaysia
Market Entry Strategy - Tata Xenon in MalaysiaSiddharth Ravishankar
 
Project on toyota central motors ppt
Project on toyota central motors pptProject on toyota central motors ppt
Project on toyota central motors pptbilal khan
 

Mais procurados (20)

Production Management - Honda
Production Management - HondaProduction Management - Honda
Production Management - Honda
 
Tata Motors
Tata MotorsTata Motors
Tata Motors
 
SWOT Analysis of TOYOTA and 4 major management functions of TOYOTA
SWOT Analysis of TOYOTA and 4 major management functions of TOYOTASWOT Analysis of TOYOTA and 4 major management functions of TOYOTA
SWOT Analysis of TOYOTA and 4 major management functions of TOYOTA
 
Toyota strategy
Toyota strategyToyota strategy
Toyota strategy
 
Toyota
Toyota Toyota
Toyota
 
Toyota International Strategy
Toyota International StrategyToyota International Strategy
Toyota International Strategy
 
Toyota ppt
Toyota pptToyota ppt
Toyota ppt
 
Indus motors
Indus motorsIndus motors
Indus motors
 
Final MIS report
Final MIS reportFinal MIS report
Final MIS report
 
Toyota Pakistan Project Report
Toyota Pakistan Project ReportToyota Pakistan Project Report
Toyota Pakistan Project Report
 
Tata Motors
Tata MotorsTata Motors
Tata Motors
 
Pak suzuki motore project HRM
Pak suzuki motore project HRMPak suzuki motore project HRM
Pak suzuki motore project HRM
 
Maruti Strategy
Maruti StrategyMaruti Strategy
Maruti Strategy
 
LOCATION & Layout Analysis @ MARUTI SUZUKI
LOCATION & Layout Analysis @ MARUTI SUZUKILOCATION & Layout Analysis @ MARUTI SUZUKI
LOCATION & Layout Analysis @ MARUTI SUZUKI
 
maruti suzuki overview
maruti suzuki overviewmaruti suzuki overview
maruti suzuki overview
 
Market Entry Strategy - Tata Xenon in Malaysia
Market Entry Strategy - Tata Xenon in MalaysiaMarket Entry Strategy - Tata Xenon in Malaysia
Market Entry Strategy - Tata Xenon in Malaysia
 
TOYOTA
TOYOTATOYOTA
TOYOTA
 
Tata Motors
Tata MotorsTata Motors
Tata Motors
 
Hyundai Strategy
Hyundai Strategy Hyundai Strategy
Hyundai Strategy
 
Project on toyota central motors ppt
Project on toyota central motors pptProject on toyota central motors ppt
Project on toyota central motors ppt
 

Destaque

Presentation on TOYOTA INDUS MOTOR in Corporate Governance
Presentation on TOYOTA INDUS MOTOR in Corporate GovernancePresentation on TOYOTA INDUS MOTOR in Corporate Governance
Presentation on TOYOTA INDUS MOTOR in Corporate GovernanceAmna Abrar
 
Presentation hrm
Presentation hrmPresentation hrm
Presentation hrmgohar Iqbal
 
Toyota company our life presentation
Toyota company our life presentationToyota company our life presentation
Toyota company our life presentationnateter
 
Business policy & strategy of Toyota Motors
Business policy & strategy of Toyota MotorsBusiness policy & strategy of Toyota Motors
Business policy & strategy of Toyota MotorsMd Tanvir Faisal
 
CG rating of reliance industries
CG rating of reliance industriesCG rating of reliance industries
CG rating of reliance industriesParth Singh
 
Marketing research- lulu hypermarket
Marketing research- lulu hypermarketMarketing research- lulu hypermarket
Marketing research- lulu hypermarketRahul Jain
 
Presentation1toyota2
Presentation1toyota2Presentation1toyota2
Presentation1toyota2Abdul Basit
 
Corporate Governance Rating Reliance Industries Limited
Corporate Governance Rating   Reliance Industries LimitedCorporate Governance Rating   Reliance Industries Limited
Corporate Governance Rating Reliance Industries LimitedSpartanski
 
Management Control System at Toyota
Management Control System at ToyotaManagement Control System at Toyota
Management Control System at ToyotaHarshad Jain
 
Lehman Brothers and Corporate Governance failure and Corporate Governance f...
Lehman Brothers and  Corporate Governance failure and  Corporate Governance f...Lehman Brothers and  Corporate Governance failure and  Corporate Governance f...
Lehman Brothers and Corporate Governance failure and Corporate Governance f...Adnan Qatinah
 
Human Resource At Toyota Maged Elsakka
Human Resource At Toyota Maged ElsakkaHuman Resource At Toyota Maged Elsakka
Human Resource At Toyota Maged ElsakkaMaged Elsakka
 
presentation on Toyota motors L.t.d
presentation on Toyota motors L.t.dpresentation on Toyota motors L.t.d
presentation on Toyota motors L.t.dShivam Gupta
 
Business Ethics And Corporate Governance
Business Ethics And Corporate GovernanceBusiness Ethics And Corporate Governance
Business Ethics And Corporate GovernanceDivanshu Pahwa
 
The role of the board of directors in corporate governance and policy making
The role of the board of directors in corporate governance and policy makingThe role of the board of directors in corporate governance and policy making
The role of the board of directors in corporate governance and policy makingClaro Ganac
 

Destaque (20)

Presentation on TOYOTA INDUS MOTOR in Corporate Governance
Presentation on TOYOTA INDUS MOTOR in Corporate GovernancePresentation on TOYOTA INDUS MOTOR in Corporate Governance
Presentation on TOYOTA INDUS MOTOR in Corporate Governance
 
Presentation hrm
Presentation hrmPresentation hrm
Presentation hrm
 
Indus motors Corporate Governance
Indus motors Corporate GovernanceIndus motors Corporate Governance
Indus motors Corporate Governance
 
Toyota company our life presentation
Toyota company our life presentationToyota company our life presentation
Toyota company our life presentation
 
Lulu
LuluLulu
Lulu
 
Business policy & strategy of Toyota Motors
Business policy & strategy of Toyota MotorsBusiness policy & strategy of Toyota Motors
Business policy & strategy of Toyota Motors
 
CG rating of reliance industries
CG rating of reliance industriesCG rating of reliance industries
CG rating of reliance industries
 
Marketing research- lulu hypermarket
Marketing research- lulu hypermarketMarketing research- lulu hypermarket
Marketing research- lulu hypermarket
 
Presentation1toyota2
Presentation1toyota2Presentation1toyota2
Presentation1toyota2
 
Keiretsu
KeiretsuKeiretsu
Keiretsu
 
Corporate Governance Rating Reliance Industries Limited
Corporate Governance Rating   Reliance Industries LimitedCorporate Governance Rating   Reliance Industries Limited
Corporate Governance Rating Reliance Industries Limited
 
Toyota 3
Toyota 3Toyota 3
Toyota 3
 
Management Control System at Toyota
Management Control System at ToyotaManagement Control System at Toyota
Management Control System at Toyota
 
Lehman Brothers and Corporate Governance failure and Corporate Governance f...
Lehman Brothers and  Corporate Governance failure and  Corporate Governance f...Lehman Brothers and  Corporate Governance failure and  Corporate Governance f...
Lehman Brothers and Corporate Governance failure and Corporate Governance f...
 
Human Resource At Toyota Maged Elsakka
Human Resource At Toyota Maged ElsakkaHuman Resource At Toyota Maged Elsakka
Human Resource At Toyota Maged Elsakka
 
presentation on Toyota motors L.t.d
presentation on Toyota motors L.t.dpresentation on Toyota motors L.t.d
presentation on Toyota motors L.t.d
 
Business Ethics And Corporate Governance
Business Ethics And Corporate GovernanceBusiness Ethics And Corporate Governance
Business Ethics And Corporate Governance
 
The role of the board of directors in corporate governance and policy making
The role of the board of directors in corporate governance and policy makingThe role of the board of directors in corporate governance and policy making
The role of the board of directors in corporate governance and policy making
 
Corporate governance
Corporate governanceCorporate governance
Corporate governance
 
Hr policies
Hr policiesHr policies
Hr policies
 

Semelhante a TOYOTA INDUS MOTOR ON CORPORATE GOVERNANCE

Toyota-AR-2022-option-4-revised_compressed.pdf
Toyota-AR-2022-option-4-revised_compressed.pdfToyota-AR-2022-option-4-revised_compressed.pdf
Toyota-AR-2022-option-4-revised_compressed.pdfMoinuddin Syed
 
Interal audit project presentation on TOYOTA INDUS MOTOR in Corporate Governance
Interal audit project presentation on TOYOTA INDUS MOTOR in Corporate GovernanceInteral audit project presentation on TOYOTA INDUS MOTOR in Corporate Governance
Interal audit project presentation on TOYOTA INDUS MOTOR in Corporate GovernanceAmna Abrar
 
Hindustan Unilever Corporate Finance Analysis Report
Hindustan Unilever Corporate Finance Analysis ReportHindustan Unilever Corporate Finance Analysis Report
Hindustan Unilever Corporate Finance Analysis ReportDrRomaniBanerjee
 
Corporate Governance Engro Foods
Corporate Governance Engro FoodsCorporate Governance Engro Foods
Corporate Governance Engro FoodsUmair Shaikh
 
Tata project
Tata projectTata project
Tata projectmd_ariz87
 
RATIO ANALYSIS OF PAK SUZUKI MOTORS
RATIO ANALYSIS OF PAK SUZUKI MOTORSRATIO ANALYSIS OF PAK SUZUKI MOTORS
RATIO ANALYSIS OF PAK SUZUKI MOTORSBadar Moon
 
Project report on central excise duty
Project report on central excise dutyProject report on central excise duty
Project report on central excise dutySupa Buoy
 
Corporategovernance 131205084129-phpapp02
Corporategovernance 131205084129-phpapp02Corporategovernance 131205084129-phpapp02
Corporategovernance 131205084129-phpapp02himanshujaiswal
 
Organisationalculture 120223080512-phpapp02
Organisationalculture 120223080512-phpapp02Organisationalculture 120223080512-phpapp02
Organisationalculture 120223080512-phpapp02Akshay Mittal
 
CII Policy Watch on Corporate Integrity & Good Citizenship
CII Policy Watch on Corporate Integrity & Good CitizenshipCII Policy Watch on Corporate Integrity & Good Citizenship
CII Policy Watch on Corporate Integrity & Good CitizenshipConfederation of Indian Industry
 
Deptt. of Commerce, TU
Deptt. of Commerce, TUDeptt. of Commerce, TU
Deptt. of Commerce, TUDebojit Deb
 
Corp Gov ppt_ Dr. Shreyas Vyas.pptx
Corp Gov ppt_ Dr. Shreyas Vyas.pptxCorp Gov ppt_ Dr. Shreyas Vyas.pptx
Corp Gov ppt_ Dr. Shreyas Vyas.pptxShreyasVyas9
 
corporate governance.pdf
corporate governance.pdfcorporate governance.pdf
corporate governance.pdfRavi narayana
 
FIN440 corporate finance report
FIN440 corporate finance reportFIN440 corporate finance report
FIN440 corporate finance reportKhorsed Prince
 

Semelhante a TOYOTA INDUS MOTOR ON CORPORATE GOVERNANCE (20)

Honda Company Details
Honda  Company DetailsHonda  Company Details
Honda Company Details
 
Toyota-AR-2022-option-4-revised_compressed.pdf
Toyota-AR-2022-option-4-revised_compressed.pdfToyota-AR-2022-option-4-revised_compressed.pdf
Toyota-AR-2022-option-4-revised_compressed.pdf
 
Interal audit project presentation on TOYOTA INDUS MOTOR in Corporate Governance
Interal audit project presentation on TOYOTA INDUS MOTOR in Corporate GovernanceInteral audit project presentation on TOYOTA INDUS MOTOR in Corporate Governance
Interal audit project presentation on TOYOTA INDUS MOTOR in Corporate Governance
 
Hindustan Unilever Corporate Finance Analysis Report
Hindustan Unilever Corporate Finance Analysis ReportHindustan Unilever Corporate Finance Analysis Report
Hindustan Unilever Corporate Finance Analysis Report
 
Corporate Governance Engro Foods
Corporate Governance Engro FoodsCorporate Governance Engro Foods
Corporate Governance Engro Foods
 
Tata project
Tata projectTata project
Tata project
 
RATIO ANALYSIS OF PAK SUZUKI MOTORS
RATIO ANALYSIS OF PAK SUZUKI MOTORSRATIO ANALYSIS OF PAK SUZUKI MOTORS
RATIO ANALYSIS OF PAK SUZUKI MOTORS
 
R&d of toyoto
R&d of toyotoR&d of toyoto
R&d of toyoto
 
Project report on central excise duty
Project report on central excise dutyProject report on central excise duty
Project report on central excise duty
 
Corporategovernance 131205084129-phpapp02
Corporategovernance 131205084129-phpapp02Corporategovernance 131205084129-phpapp02
Corporategovernance 131205084129-phpapp02
 
Organisationalculture 120223080512-phpapp02
Organisationalculture 120223080512-phpapp02Organisationalculture 120223080512-phpapp02
Organisationalculture 120223080512-phpapp02
 
CII Policy Watch on Corporate Integrity & Good Citizenship
CII Policy Watch on Corporate Integrity & Good CitizenshipCII Policy Watch on Corporate Integrity & Good Citizenship
CII Policy Watch on Corporate Integrity & Good Citizenship
 
Corporate governance
Corporate governanceCorporate governance
Corporate governance
 
csr: legislation
csr: legislationcsr: legislation
csr: legislation
 
Deptt. of Commerce, TU
Deptt. of Commerce, TUDeptt. of Commerce, TU
Deptt. of Commerce, TU
 
Sip
SipSip
Sip
 
Organisational culture
Organisational cultureOrganisational culture
Organisational culture
 
Corp Gov ppt_ Dr. Shreyas Vyas.pptx
Corp Gov ppt_ Dr. Shreyas Vyas.pptxCorp Gov ppt_ Dr. Shreyas Vyas.pptx
Corp Gov ppt_ Dr. Shreyas Vyas.pptx
 
corporate governance.pdf
corporate governance.pdfcorporate governance.pdf
corporate governance.pdf
 
FIN440 corporate finance report
FIN440 corporate finance reportFIN440 corporate finance report
FIN440 corporate finance report
 

Mais de Amna Abrar

PRESENTATION OF ADVANCED AUDITING
PRESENTATION OF ADVANCED AUDITINGPRESENTATION OF ADVANCED AUDITING
PRESENTATION OF ADVANCED AUDITINGAmna Abrar
 
TYPES OF ACCOUNTS AND DOCUMENTS REQUIRED BY BANK
TYPES OF ACCOUNTS AND DOCUMENTS REQUIRED BY BANKTYPES OF ACCOUNTS AND DOCUMENTS REQUIRED BY BANK
TYPES OF ACCOUNTS AND DOCUMENTS REQUIRED BY BANKAmna Abrar
 
AUDIT PROCEDURE Of FINANCIAL STATEMENT
AUDIT PROCEDURE Of FINANCIAL STATEMENTAUDIT PROCEDURE Of FINANCIAL STATEMENT
AUDIT PROCEDURE Of FINANCIAL STATEMENTAmna Abrar
 
AUDIT PROCEDURE OD FINANCIAL STATEMENT
AUDIT PROCEDURE OD FINANCIAL STATEMENTAUDIT PROCEDURE OD FINANCIAL STATEMENT
AUDIT PROCEDURE OD FINANCIAL STATEMENTAmna Abrar
 
This assignment is related for a bank (SBP)
This assignment is related for a bank (SBP)This assignment is related for a bank (SBP)
This assignment is related for a bank (SBP)Amna Abrar
 
Presentation of Starbucks case study 2011
Presentation of Starbucks case study 2011Presentation of Starbucks case study 2011
Presentation of Starbucks case study 2011Amna Abrar
 
Starbucks corporation- 2011 case study
Starbucks corporation- 2011 case study Starbucks corporation- 2011 case study
Starbucks corporation- 2011 case study Amna Abrar
 
EARNING PER SHARE IAS-33
EARNING PER SHARE IAS-33EARNING PER SHARE IAS-33
EARNING PER SHARE IAS-33Amna Abrar
 
business taxation
business taxationbusiness taxation
business taxationAmna Abrar
 
Presentation by
Presentation byPresentation by
Presentation byAmna Abrar
 
Fsa project basic information required
Fsa project basic information requiredFsa project basic information required
Fsa project basic information requiredAmna Abrar
 
Drones presentation
Drones presentationDrones presentation
Drones presentationAmna Abrar
 
Principles of marketing
Principles of marketingPrinciples of marketing
Principles of marketingAmna Abrar
 
HABIB BANK LIMITED
HABIB BANK LIMITEDHABIB BANK LIMITED
HABIB BANK LIMITEDAmna Abrar
 
Presentation on INDIVIDUAL,GROUPS AND TEAMZ
Presentation on INDIVIDUAL,GROUPS AND TEAMZPresentation on INDIVIDUAL,GROUPS AND TEAMZ
Presentation on INDIVIDUAL,GROUPS AND TEAMZAmna Abrar
 
Silk textile manufacturing company
 Silk textile manufacturing company Silk textile manufacturing company
Silk textile manufacturing companyAmna Abrar
 
Presentation corporate (silk textile manufacturing company)
Presentation corporate (silk textile manufacturing company)Presentation corporate (silk textile manufacturing company)
Presentation corporate (silk textile manufacturing company)Amna Abrar
 

Mais de Amna Abrar (17)

PRESENTATION OF ADVANCED AUDITING
PRESENTATION OF ADVANCED AUDITINGPRESENTATION OF ADVANCED AUDITING
PRESENTATION OF ADVANCED AUDITING
 
TYPES OF ACCOUNTS AND DOCUMENTS REQUIRED BY BANK
TYPES OF ACCOUNTS AND DOCUMENTS REQUIRED BY BANKTYPES OF ACCOUNTS AND DOCUMENTS REQUIRED BY BANK
TYPES OF ACCOUNTS AND DOCUMENTS REQUIRED BY BANK
 
AUDIT PROCEDURE Of FINANCIAL STATEMENT
AUDIT PROCEDURE Of FINANCIAL STATEMENTAUDIT PROCEDURE Of FINANCIAL STATEMENT
AUDIT PROCEDURE Of FINANCIAL STATEMENT
 
AUDIT PROCEDURE OD FINANCIAL STATEMENT
AUDIT PROCEDURE OD FINANCIAL STATEMENTAUDIT PROCEDURE OD FINANCIAL STATEMENT
AUDIT PROCEDURE OD FINANCIAL STATEMENT
 
This assignment is related for a bank (SBP)
This assignment is related for a bank (SBP)This assignment is related for a bank (SBP)
This assignment is related for a bank (SBP)
 
Presentation of Starbucks case study 2011
Presentation of Starbucks case study 2011Presentation of Starbucks case study 2011
Presentation of Starbucks case study 2011
 
Starbucks corporation- 2011 case study
Starbucks corporation- 2011 case study Starbucks corporation- 2011 case study
Starbucks corporation- 2011 case study
 
EARNING PER SHARE IAS-33
EARNING PER SHARE IAS-33EARNING PER SHARE IAS-33
EARNING PER SHARE IAS-33
 
business taxation
business taxationbusiness taxation
business taxation
 
Presentation by
Presentation byPresentation by
Presentation by
 
Fsa project basic information required
Fsa project basic information requiredFsa project basic information required
Fsa project basic information required
 
Drones presentation
Drones presentationDrones presentation
Drones presentation
 
Principles of marketing
Principles of marketingPrinciples of marketing
Principles of marketing
 
HABIB BANK LIMITED
HABIB BANK LIMITEDHABIB BANK LIMITED
HABIB BANK LIMITED
 
Presentation on INDIVIDUAL,GROUPS AND TEAMZ
Presentation on INDIVIDUAL,GROUPS AND TEAMZPresentation on INDIVIDUAL,GROUPS AND TEAMZ
Presentation on INDIVIDUAL,GROUPS AND TEAMZ
 
Silk textile manufacturing company
 Silk textile manufacturing company Silk textile manufacturing company
Silk textile manufacturing company
 
Presentation corporate (silk textile manufacturing company)
Presentation corporate (silk textile manufacturing company)Presentation corporate (silk textile manufacturing company)
Presentation corporate (silk textile manufacturing company)
 

Último

The Abortion pills for sale in Qatar@Doha [+27737758557] []Deira Dubai Kuwait
The Abortion pills for sale in Qatar@Doha [+27737758557] []Deira Dubai KuwaitThe Abortion pills for sale in Qatar@Doha [+27737758557] []Deira Dubai Kuwait
The Abortion pills for sale in Qatar@Doha [+27737758557] []Deira Dubai Kuwaitdaisycvs
 
Call Girls Hebbal Just Call 👗 7737669865 👗 Top Class Call Girl Service Bangalore
Call Girls Hebbal Just Call 👗 7737669865 👗 Top Class Call Girl Service BangaloreCall Girls Hebbal Just Call 👗 7737669865 👗 Top Class Call Girl Service Bangalore
Call Girls Hebbal Just Call 👗 7737669865 👗 Top Class Call Girl Service Bangaloreamitlee9823
 
Dr. Admir Softic_ presentation_Green Club_ENG.pdf
Dr. Admir Softic_ presentation_Green Club_ENG.pdfDr. Admir Softic_ presentation_Green Club_ENG.pdf
Dr. Admir Softic_ presentation_Green Club_ENG.pdfAdmir Softic
 
Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876
Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876
Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876dlhescort
 
Russian Call Girls In Gurgaon ❤️8448577510 ⊹Best Escorts Service In 24/7 Delh...
Russian Call Girls In Gurgaon ❤️8448577510 ⊹Best Escorts Service In 24/7 Delh...Russian Call Girls In Gurgaon ❤️8448577510 ⊹Best Escorts Service In 24/7 Delh...
Russian Call Girls In Gurgaon ❤️8448577510 ⊹Best Escorts Service In 24/7 Delh...lizamodels9
 
PHX May 2024 Corporate Presentation Final
PHX May 2024 Corporate Presentation FinalPHX May 2024 Corporate Presentation Final
PHX May 2024 Corporate Presentation FinalPanhandleOilandGas
 
Call Girls Ludhiana Just Call 98765-12871 Top Class Call Girl Service Available
Call Girls Ludhiana Just Call 98765-12871 Top Class Call Girl Service AvailableCall Girls Ludhiana Just Call 98765-12871 Top Class Call Girl Service Available
Call Girls Ludhiana Just Call 98765-12871 Top Class Call Girl Service AvailableSeo
 
Phases of Negotiation .pptx
 Phases of Negotiation .pptx Phases of Negotiation .pptx
Phases of Negotiation .pptxnandhinijagan9867
 
SEO Case Study: How I Increased SEO Traffic & Ranking by 50-60% in 6 Months
SEO Case Study: How I Increased SEO Traffic & Ranking by 50-60%  in 6 MonthsSEO Case Study: How I Increased SEO Traffic & Ranking by 50-60%  in 6 Months
SEO Case Study: How I Increased SEO Traffic & Ranking by 50-60% in 6 MonthsIndeedSEO
 
Call Girls Zirakpur👧 Book Now📱7837612180 📞👉Call Girl Service In Zirakpur No A...
Call Girls Zirakpur👧 Book Now📱7837612180 📞👉Call Girl Service In Zirakpur No A...Call Girls Zirakpur👧 Book Now📱7837612180 📞👉Call Girl Service In Zirakpur No A...
Call Girls Zirakpur👧 Book Now📱7837612180 📞👉Call Girl Service In Zirakpur No A...Sheetaleventcompany
 
Chandigarh Escorts Service 📞8868886958📞 Just📲 Call Nihal Chandigarh Call Girl...
Chandigarh Escorts Service 📞8868886958📞 Just📲 Call Nihal Chandigarh Call Girl...Chandigarh Escorts Service 📞8868886958📞 Just📲 Call Nihal Chandigarh Call Girl...
Chandigarh Escorts Service 📞8868886958📞 Just📲 Call Nihal Chandigarh Call Girl...Sheetaleventcompany
 
FULL ENJOY Call Girls In Mahipalpur Delhi Contact Us 8377877756
FULL ENJOY Call Girls In Mahipalpur Delhi Contact Us 8377877756FULL ENJOY Call Girls In Mahipalpur Delhi Contact Us 8377877756
FULL ENJOY Call Girls In Mahipalpur Delhi Contact Us 8377877756dollysharma2066
 
Unveiling Falcon Invoice Discounting: Leading the Way as India's Premier Bill...
Unveiling Falcon Invoice Discounting: Leading the Way as India's Premier Bill...Unveiling Falcon Invoice Discounting: Leading the Way as India's Premier Bill...
Unveiling Falcon Invoice Discounting: Leading the Way as India's Premier Bill...Falcon Invoice Discounting
 
Organizational Transformation Lead with Culture
Organizational Transformation Lead with CultureOrganizational Transformation Lead with Culture
Organizational Transformation Lead with CultureSeta Wicaksana
 
How to Get Started in Social Media for Art League City
How to Get Started in Social Media for Art League CityHow to Get Started in Social Media for Art League City
How to Get Started in Social Media for Art League CityEric T. Tung
 
Call Girls In Noida 959961⊹3876 Independent Escort Service Noida
Call Girls In Noida 959961⊹3876 Independent Escort Service NoidaCall Girls In Noida 959961⊹3876 Independent Escort Service Noida
Call Girls In Noida 959961⊹3876 Independent Escort Service Noidadlhescort
 
Call Girls From Raj Nagar Extension Ghaziabad❤️8448577510 ⊹Best Escorts Servi...
Call Girls From Raj Nagar Extension Ghaziabad❤️8448577510 ⊹Best Escorts Servi...Call Girls From Raj Nagar Extension Ghaziabad❤️8448577510 ⊹Best Escorts Servi...
Call Girls From Raj Nagar Extension Ghaziabad❤️8448577510 ⊹Best Escorts Servi...lizamodels9
 

Último (20)

The Abortion pills for sale in Qatar@Doha [+27737758557] []Deira Dubai Kuwait
The Abortion pills for sale in Qatar@Doha [+27737758557] []Deira Dubai KuwaitThe Abortion pills for sale in Qatar@Doha [+27737758557] []Deira Dubai Kuwait
The Abortion pills for sale in Qatar@Doha [+27737758557] []Deira Dubai Kuwait
 
Call Girls Hebbal Just Call 👗 7737669865 👗 Top Class Call Girl Service Bangalore
Call Girls Hebbal Just Call 👗 7737669865 👗 Top Class Call Girl Service BangaloreCall Girls Hebbal Just Call 👗 7737669865 👗 Top Class Call Girl Service Bangalore
Call Girls Hebbal Just Call 👗 7737669865 👗 Top Class Call Girl Service Bangalore
 
Dr. Admir Softic_ presentation_Green Club_ENG.pdf
Dr. Admir Softic_ presentation_Green Club_ENG.pdfDr. Admir Softic_ presentation_Green Club_ENG.pdf
Dr. Admir Softic_ presentation_Green Club_ENG.pdf
 
Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876
Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876
Call Girls in Delhi, Escort Service Available 24x7 in Delhi 959961-/-3876
 
Russian Call Girls In Gurgaon ❤️8448577510 ⊹Best Escorts Service In 24/7 Delh...
Russian Call Girls In Gurgaon ❤️8448577510 ⊹Best Escorts Service In 24/7 Delh...Russian Call Girls In Gurgaon ❤️8448577510 ⊹Best Escorts Service In 24/7 Delh...
Russian Call Girls In Gurgaon ❤️8448577510 ⊹Best Escorts Service In 24/7 Delh...
 
PHX May 2024 Corporate Presentation Final
PHX May 2024 Corporate Presentation FinalPHX May 2024 Corporate Presentation Final
PHX May 2024 Corporate Presentation Final
 
Call Girls Ludhiana Just Call 98765-12871 Top Class Call Girl Service Available
Call Girls Ludhiana Just Call 98765-12871 Top Class Call Girl Service AvailableCall Girls Ludhiana Just Call 98765-12871 Top Class Call Girl Service Available
Call Girls Ludhiana Just Call 98765-12871 Top Class Call Girl Service Available
 
Phases of Negotiation .pptx
 Phases of Negotiation .pptx Phases of Negotiation .pptx
Phases of Negotiation .pptx
 
unwanted pregnancy Kit [+918133066128] Abortion Pills IN Dubai UAE Abudhabi
unwanted pregnancy Kit [+918133066128] Abortion Pills IN Dubai UAE Abudhabiunwanted pregnancy Kit [+918133066128] Abortion Pills IN Dubai UAE Abudhabi
unwanted pregnancy Kit [+918133066128] Abortion Pills IN Dubai UAE Abudhabi
 
SEO Case Study: How I Increased SEO Traffic & Ranking by 50-60% in 6 Months
SEO Case Study: How I Increased SEO Traffic & Ranking by 50-60%  in 6 MonthsSEO Case Study: How I Increased SEO Traffic & Ranking by 50-60%  in 6 Months
SEO Case Study: How I Increased SEO Traffic & Ranking by 50-60% in 6 Months
 
Call Girls Zirakpur👧 Book Now📱7837612180 📞👉Call Girl Service In Zirakpur No A...
Call Girls Zirakpur👧 Book Now📱7837612180 📞👉Call Girl Service In Zirakpur No A...Call Girls Zirakpur👧 Book Now📱7837612180 📞👉Call Girl Service In Zirakpur No A...
Call Girls Zirakpur👧 Book Now📱7837612180 📞👉Call Girl Service In Zirakpur No A...
 
(Anamika) VIP Call Girls Napur Call Now 8617697112 Napur Escorts 24x7
(Anamika) VIP Call Girls Napur Call Now 8617697112 Napur Escorts 24x7(Anamika) VIP Call Girls Napur Call Now 8617697112 Napur Escorts 24x7
(Anamika) VIP Call Girls Napur Call Now 8617697112 Napur Escorts 24x7
 
Chandigarh Escorts Service 📞8868886958📞 Just📲 Call Nihal Chandigarh Call Girl...
Chandigarh Escorts Service 📞8868886958📞 Just📲 Call Nihal Chandigarh Call Girl...Chandigarh Escorts Service 📞8868886958📞 Just📲 Call Nihal Chandigarh Call Girl...
Chandigarh Escorts Service 📞8868886958📞 Just📲 Call Nihal Chandigarh Call Girl...
 
Falcon Invoice Discounting platform in india
Falcon Invoice Discounting platform in indiaFalcon Invoice Discounting platform in india
Falcon Invoice Discounting platform in india
 
FULL ENJOY Call Girls In Mahipalpur Delhi Contact Us 8377877756
FULL ENJOY Call Girls In Mahipalpur Delhi Contact Us 8377877756FULL ENJOY Call Girls In Mahipalpur Delhi Contact Us 8377877756
FULL ENJOY Call Girls In Mahipalpur Delhi Contact Us 8377877756
 
Unveiling Falcon Invoice Discounting: Leading the Way as India's Premier Bill...
Unveiling Falcon Invoice Discounting: Leading the Way as India's Premier Bill...Unveiling Falcon Invoice Discounting: Leading the Way as India's Premier Bill...
Unveiling Falcon Invoice Discounting: Leading the Way as India's Premier Bill...
 
Organizational Transformation Lead with Culture
Organizational Transformation Lead with CultureOrganizational Transformation Lead with Culture
Organizational Transformation Lead with Culture
 
How to Get Started in Social Media for Art League City
How to Get Started in Social Media for Art League CityHow to Get Started in Social Media for Art League City
How to Get Started in Social Media for Art League City
 
Call Girls In Noida 959961⊹3876 Independent Escort Service Noida
Call Girls In Noida 959961⊹3876 Independent Escort Service NoidaCall Girls In Noida 959961⊹3876 Independent Escort Service Noida
Call Girls In Noida 959961⊹3876 Independent Escort Service Noida
 
Call Girls From Raj Nagar Extension Ghaziabad❤️8448577510 ⊹Best Escorts Servi...
Call Girls From Raj Nagar Extension Ghaziabad❤️8448577510 ⊹Best Escorts Servi...Call Girls From Raj Nagar Extension Ghaziabad❤️8448577510 ⊹Best Escorts Servi...
Call Girls From Raj Nagar Extension Ghaziabad❤️8448577510 ⊹Best Escorts Servi...
 

TOYOTA INDUS MOTOR ON CORPORATE GOVERNANCE

  • 1. CORPORATE GOVERNANCE Page 1 Company Profile Indus motor was incorporated in 1989 as a joint venture company between the House of Habib of Pakistan, Toyota Motor Corporation and Toyota Tsusho Corporation of Japan. The Company manufactures and markets Toyota and Daihatsu brand vehicle in Pakistan. The main product offerings include. Several variants of the flagship 'Corolla' in the passenger cars category, 'Hit, in the light commercial vehicles segment and ‘For tuner' in Sport Utility Vehicle Segment The manufacturing facility and offices are located at a 100 acre site in Port Qasim, Karachi while the product is delivered to end customers nationwide through a strong network of 37 independent 3S Dealerships spread across the country. In its 24 years history since inception, IMC has sold more than 500,000 vehicles and has demonstrated an impressive growth, in terms of volumetric increase from a modest beginning of 20 vehicles per day production in 1993 to MO units daily at a present through the development of human talent embracing the 'To, Way' of quality and lean manufacturing. Over the years, IMC has made great scale investments in enhancing its own capacity and in meeting customer requirements for new products. Today, Corolla is the largest selling automotive brand model in Pakistan and it also has the distinction of being no.1 in Toyota's Asian market. The Company invests heavily in training its 20,000 plus work force of team members and management employees and creating a culture of high performing empowered teams working seamlessly across processes in search of quality to pursue high standards of business ethics and safety. The bi-annual TMC morale surveys show employees giving a high positive score to the IMC work environment and level of job satisfaction. The Company has played a major role in the development of the entire value chain of the local auto industry and is proud to have contributed in poverty alleviation at the grass root level of nurturing localization that in tum has directly created thousands of job opportunities and transferred technology to 60 vendors supplying parts. IMC is also a major tax payer and significant contributor towards GOP.
  • 2. CORPORATE GOVERNANCE Page 2 Vision: “To be the most respected and successful enterprise, delighting customers with a wide range of products and solutions in the automobile industry with the best technology." Mission:  Respect & Corporate Image  Quality & Safety  Customer Satisfaction  Production & Sales  Profitability  Best Employer
  • 3. CORPORATE GOVERNANCE Page 3 Board of Directors The board of Toyota Indus Motors comprises of 9 members, their names and details are given below. Ali S. Habib (Chairman): Ali S. Habib is the Chairman of Indus Motor Company Ltd., he is also the founding director of the company. Keiiichi Murakami(Vice Chairman): He was elected as a member of the board and appointed as Vice Chairman of the company. Parvez Ghias (CEO & Director): He has been the Chief Executive Officer and director of the company. FarhadZulficar: He is the founding director of Indus Motor Company Ltd. He was the first managing director of the company. S. Mohamedali R. Habib: He is also the founding director for the company. Kyoichi Tanada: He was appointed as the director of the company. MitoshOkimoto: He was appointed as the director and is serving the company as senior director. Hiroyuki Niwa: He has been associated with the Toyota Corporation. He was appointed as a director for Indus Motors.
  • 4. CORPORATE GOVERNANCE Page 4 Raza Ansari: He was elected as a non-executive director of the company. He was also a member of the audit committee. COMMITTEES The Indus Motor Company has 6 committees the names and the details are given below. Board Human Resource and Remuneration Committee: The remuneration committee is a sub-committee of the board. It recommends human resource management policies to the Board. It also recommends selection, evaluation, compensation and succession plan of the CEO and Senior Management who directly report to the CEO. Board Ethics Committee: This committee has the responsibility of overseeing ethical policies and compliance by the company. Investment Committee: This committee assists the board in fulfilling its oversight responsibility for the investment in assets of the company. It evaluates the capital expenditures required to be made and recommends the same to the board for approval. It is also responsible for formulating the overall polices for investment in fixed assets. Marketing Technical Co-ordination Committee: This committee also controls new products or minor model specification changes and schedules. Management Committee: This committee is responsible for monitoring of organization operations. It also reviews departmental targets and accomplishments achieved during the month. In addition it
  • 5. CORPORATE GOVERNANCE Page 5 reviews government regulatory affairs including macro-economic situations which results in formation of the company's strategy and risk management policies. Safety Health and Environment Committee: This committee meets on a monthly basis and keeps a close eye on the company wide trends, relevant local laws compliance, promulgating drive and focus on issues prevailing on the shop floor and ways to resolve them via efficient and swift decision making. This committee is chaired by the CEO who formulates policies. Statement of Compliancewith the Code of Corporate Governance  This statement is being presented to comply with the Code of Corporate Governance (CCG) contained in Regulation 35 of the Listing Regulations of the Karachi Stock Exchange Limited, Lahore Stock Exchange Limited and Islamabad Stock Exchange Limited, for the purpose of establishing a framework of good governance, Whereby a listed company is managed in compliance with the best practices of corporate governance.  The Company has applied the principles contained in the CCG in the following manner:  The Directors have confirmed that none of them is serving as a director in more than seven listed company including this Company.  All the resident directors of the Company are registered as taxpayers and none of them has defaulted in payment of any loan to a banking company.  The Company has prepared a "Code of Conduct”.  The Board has adopted a Vision / Mission statement, overall corporate strategy and significant policies of the Company prepared by the management.  All the powers of the Board have been duly exercised and decisions on material transactions, including appointment and determination of remuneration and terms and conditions of employment of the Chief Executive and other executive directors, have been taken by the Board.
  • 6. CORPORATE GOVERNANCE Page 6  The meetings of the Board were presided over by the Chairman and the Board met at least once in every quarter.  During the year, the Board has arranged orientation comes for the Directors.  The Board has approved the appointment of Chief Financial Officer (CFO), Company Secretary and Head of Internal Audit, including their remuneration and terms and conditions of employment  The Directors' Report for the year has been prepared in compliance with the requirements of the CCG.  The financial statements of the Company were duly endorsed by the CEO and the CFO before approval by the Board.  The Company has complied with all the corporate and financial reporting requirements of the CCG.  The Board has formed an Audit Committee.  The meetings of the Audit Committee were held at least once every quarter.  The Board has formed an HR and Remuneration Committee.  The Board has set-up an effective internal audit function within the Company. Auditors: A.F. Ferguson & Co. Chartered Accountants.
  • 7. CORPORATE GOVERNANCE Page 7 Toyota Motor Corporation CSR policy CSR Policy:CONTRIBUTION TOWARDS SUSTAINABLE DEVELOPMENT: In order to contribute to sustainable development, they believe that the management interacting with stakeholders as described below is of considerable importance: Customers: Based on philosophy of "Customer First", they develop and provide innovative, safe and outstanding high quality products and services that meet a wide variety of customers' demands to enrich the lives of people around the world. Employees: They respect their employees and believe that the success of our business is led by each individual’s creativity and good teamwork. They support equal employment opportunities, diversity and inclusion for their employees. They strive to provide fair working conditions and to maintain a safe and healthy working environment for all our employees. Business Partners Whenever we seek a new business partner, we are open to any and all candidates, regardless of nationality or size, and evaluate them based on their overall strengths. Shareholders They strive to enhance corporate value while achieving a stable and long-term growth for the benefit of shareholders.
  • 8. CORPORATE GOVERNANCE Page 8 Global Society/Local Communities Environment: They aim for growth that is in harmony with the environment by seeking to minimize the environmental impact of business operations, such as by working to reduce the effect of vehicles and operations on climate change and biodiversity. They strive to develop, establish and promote technologies enabling the environment and economy to coexist harmoniously and to build close and cooperative relationships with a wide spectrum of individuals and organizations involved in environmental preservation. Community: They implement the philosophy of "respect for people" by honoring the culture, customs, history and laws of each country. They constantly search for safer, cleaner and superior technology that satisfies the evolving needs of society for sustainable mobility. Social Contribution Wherever they do business, they actively promote and engage, both individually and with partners in social contribution activities that help strengthen communities and contribute to the enrichment of society
  • 9. CORPORATE GOVERNANCE Page 9 Guiding Principles at Toyota 1. Honor the language and spirit of the law of every nation. 2. Respect the culture and customs of every nation and contribute to economic and social development through corporate activities in their respective communities. 3. Dedicate business to providing clean and safe products and to enhancing the quality of life everywhere through all of our activities. 4. Create and develop advanced technologies and provide outstanding products and services that fulfill the needs of customers worldwide. 5. Foster a corporate culture that enhances both individual creativity and the value of teamwork, while honoring mutual trust and respect between labor and management. 6. Pursue growth through harmony with the global community via innovative management. 7. Work with business partners in research and manufacture to achieve stable, long- term growth and mutual benefits. While keeping ourselves open to new partnerships. Five Main Principles of Toyota:
  • 10. CORPORATE GOVERNANCE Page 10 1. Always be faithful to your duties, thereby contributing to the company and to the overall good 2. Always be studious and creative. 3. Always be practical. 4. Always strive to build a homelike atmosphere at work that is warm and friendly. 5. Always have respect for spiritual matters, and remember to be grateful at all times. Board Audit Committee The board Audit committee comprises of five non-executive directors, including the Chairman of the Board Audit Committee, The terms of references of the committee include reviews of annual and quarterly financial statements, internal audit report, information before dissemination to stock Exchange and proposal for appoint of external auditors for approval of the shareholders, apart from other matters of significant nature. Appointment of Auditors The present auditors, M/s A.F. Ferguson & Co. Charted Accountants retire at the conclusion of the meeting and being eligible: offer themselves for re- appointment. The directors endorse recommendation of the Audit Committee for Re-appointment of M/s A.F. Ferguson & Co., as the auditors for the financial year 2013-2014.
  • 11. CORPORATE GOVERNANCE Page 11 Code of Corporate Governance  The Board members are pleased to state that the management of the Company is committed to good corporate governs and complying with the best practice. In compliance with the code of corporate Governs, the directors are pleased to state as follows:  The financial statement prepared by the management of the company present fairly its state of affairs, the result of its operations, cash flows and changes in equity.  Proper books of accounts of the company have maintained.  Appropriate accounting policies have been consistently applied in preparation of the financial statement and according estimates are based on reasonable and prudent judgment.  International Financial reporting Standards, as applicable in Pakistan, have been followed in preparation of the financial statements.  The system of internal control is sound in design and has been effectively implemented and monitored.  There are no significant doubts upon the Company's ability to continue as a going concern.  There has been no material departure from the best Practices of corporate governs as detailed in the listing regulations. Recommendation  The board of directors focuses on supervision of executive officers.
  • 12. CORPORATE GOVERNANCE Page 12  Evaluate board and director performance and pursue opportunities for improvement.  Effective risk management supports better decision making because it develops a deeper insight into the risk-reward trade-offs that all organizations face.