Compliance Advisory Committee

In October 2004, the company premises were searched as a result of its violation of the Real Estate Brokerage Act by selling the OAP Residence Tower, a condominium in Osaka with known soil contamination issues, without informing clients. This was known as the OAP Incident.
Although the OAP Incident was legally dismissed in June 2005, the company reflected deeply on its actions and set up the Compliance Advisory Committee in response, under the direct supervision of the company president. The Committee was chaired by Professor Taka of the School of Economics and Business Administration of Reitaku University and was tasked with offering recommendations concerning the checking, strengthening and improving of the compliance system to prevent a recurrence of such an incident. It was also asked to give suggestions on how to improve the corporate culture.
In December of the same year, after seven rounds of deliberation, "Recommendations for Improving the Character of the Mitsubishi Estate Group - Lessons from the OAP Incident" were compiled and issued as a report in January the following year.

Recommendations for Improving the Character of the Mitsubishi Estate Group - Lessons from the OAP Incident (PDF 48KB)(Japanese only)

An overview of the committee is provided below. Titles and departments stated are as they were at the time.

Advisory Committee Overview

1. The objective for establishing the Advisory Committee

To obtain recommendations on checking, improving and strengthening the compliance system and advice on improving corporate culture from the objective viewpoints of external experts to prevent a recurrence of the OAP Incident and other incidents.

2. The position of the Committee within the organization

An advisory committee under the direct supervision of the company president.

(Note) The president received the findings and recommendations of the Compliance Advisory Committee and deliberated on them and decided on concrete plans along with the CSR Committee, an existing company decision-making body.

3. Members

Committee Chairman Iwao Taka [Professor, School of Economics and Business Administration, Reitaku University]
Committee Members (in Japanese alphabetical order)

One Akiyama [President, IntegreX Inc.]

Toshiko Katayama [Lawyer, Katayama, Kuroki and Hiraizumi Law Office]

Kakutaro Kitashiro [Chairman of the Board, IBM Japan, Ltd. Chairman, Japan Association of Corporate Executives]

Kenji Koroyasu [Lawyer, Tokyo Eiwa Attorneys at Law. Former superintending prosecutor, Osaka High Public Prosecutors' Office]

Attendees from the company

Keiji Kimura [President & CEO]

Nobuyuki Iizuka [Executive vice-president/corporate officer in charge of Compliance]

Seiichiro Suzuki [Senior executive officer/officer in charge of CSR Promotion]

(Note) Also attended by personnel who were not officers in charge of departments as necessary

4. Period of activity

July - December 2005 (6 months)
Met on average once a month

5. Executive Committee

Planning Division, CSR Department

CORPORATE INFORMATION

  • A MESSAGE FROM THE MANAGEMENT
  • ABOUT MITSUBISHI ESTATE
  • PROFILE OF MITSUBISHI ESTATE
  • CORPORATE BRAND
  • SAFETY AND SECURITY
  • CORPORATE GOVERNANCE
  • GROUP COMPANIES