Corporate Governance

Corporate governance is one of the keys to CSR. PLANET believes that integrity is the fundamental to business. It is also disciplined in operational and financial management and abide by all laws and regulations. Our employees adhere to the established corporate governance principles and code of ethics. Honorably, PLANET has passed the CG6004, CG6005, CG6007 Corporate Governance System Evaluation Certification, and ranked among the top of Corporate Governance Evaluation officially held by Taiwan Stock Exchange and Taipei Exchange.

The Company’s rules of corporate governance:

  • Builds an effective and complete corporate governance framework
  • Protects shareholders' interests
  • Enhances the functions of the board of directors
  • Effective management by the Audit committee
  • Respects the interests of engaged parties
  • Enhances information disclosure
Corporate Governance Framework
Risk Management
◾ Risk Management Committee

For effective control of business risks, PLANET established the Risk Management Committee which is under the board of directors and responsible for the implementation of risk management, and reports to the board of directors regularly. The committee is composed of members respectively controlling corporate risks, financial risks and operating risks. Procedures have also been formulated on risk identification, measurement, monitoring, reporting and handling.

◾ Preventing Risks through Comprehensive Internal Controls and Audit Systems

PLANET has established the “Internal Control System”, the “Enforcement Rules of Internal Audit”, and the “Risk Management Regulations”, the amendments of which are subject to the resolution of the board of directors. The company has established an internal audit office, which directly reports to the board of directors and assists the board of directors and the management team in supervising the running of internal systems and processes. The internal audit office implements the annual audit plan, ensuring the effectiveness of the internal control system, the reliability of financial reports and the compliance with relevant laws and regulations. The internal audit office also provides timely suggestions for improvement to effectively implement the internal system and the supervision mechanism and to supervise the implementation of various risk management measures.

The Audit Committee reviews the company’s internal audit report on a monthly basis and maintains a good working relationship with the management team, internal auditors and certified public accountant (CPA). The mailbox of Audit Committee is provided in the “Stakeholder Zone” on PLANET website to facilitate direct communication among shareholders, employees and the Audit Committee.

◾ Ethical Business Operation

PLANET requires all its staff members, supervisors, managers, and directors not to engage in or use any reason to instruct other people to engage in any illegal or unethical activities. The rules of integrity must be strictly observed, while employee code of conduct must be established and clarified. Employees are also required to protect corporate assets and reputation and observe other company rules. As to execution of business activities, product design and procurement, employees must follow relevant rules and regulations and perform strict observance of discipline. PLANET explicitly states in its Rules Governing Ethical Corporate Management that it prohibits offering or taking of bribes, offering of illegal political donations, inappropriate sponsorship or charity donations, offering of improper gifts, treatment or other unjustified benefits, infringement of intellectual property rights and unfair competition. PLANET has also established prevention measures and procedures to prevent products or services from causing damages to the interests of stakeholder, protect the rights of customers and prevent loss of assets, penalties and damage to reputation of the company.

◾ Intellectual Property Management
  • Protection of Business Secrets
  • PLANET’s brand and the design and output associated with its products are assets of the company. To safeguard its assets, PLANET has established the “Managerial Regulations of Business Secrets” to prevent infringement of the company's trade secrets, trademarks, patents, copyrights and other intellectual property rights. PLANET stipulates the confidentiality agreement and ownership of intellectual properties in the labor contract. New employees receive relevant education and training after reporting to duty. Relevant departments have also strengthened employees’ awareness of intellectual property protection comprehensively and constantly required employees to ensure information security, thus avoiding business losses caused by outflow of intellectual properties.

  • Patent Protection
  • To continue to encourage technological innovation, PLANET has established the “Research and Development Innovation Incentive Measures” and the “Innovation/Improvement Proposals Incentive Measures” to motivate employees to file various patent applications through a diversified incentive system, thus enhancing product differentiation and market competitiveness.

    PLANET frequently evaluates and analyzes the current situation of the industry and its competitors, and takes necessary legal measures in conjunction with legal affairs firms and patent law firms if it locates any possible infringement of its patents.

    PLANET constantly reviews the status of all relevant patent applications and conducts evaluation on patent extension and invalidation, so as to effectively manage its patents.

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