J-SOx is the short name for the Japanese version of the Sarbanes-Oxley law or SOx. SOx refers to a piece of United States legislation drafted by American politicians Sarbanes and Oxley. The law is intended to create transparency and reassure investors in the aftermath of a number of accounting scandals in the business world.
Since 2008, all companies that are active on the Japanese stock market have to comply with the Japanese version of this law, the Financial Instruments and Exchange Law. Daikin Europe N.V. has been J-SOx compliant since April 2008.
Daikin response to J-Sox
In response to the Japanese legislation, Daikin has realigned its systems to ensure the effectiveness of all operational processes throughout the Daikin Group that could affect financial reporting.
Daikin continually evaluates these systems to ensure the Company effectively provides the internal control assurance required by J-SOx. The company is committed to making any necessary adjustments to these systems, to ensure continued compliance with J-SOx and any related regulations.