Emergency response capability

risk management

Establishing Risk Management

Risk Management

In order to cope with the changing global environment and respond to risks such as change of economic cycle, laws/policies, industry competition, natural disaster and exchange rate fluctuation, YOKE constantly reviews its responsive measures and makes adjustments in line with changing factors as a means of operational control. YOKE's products are sold worldwide, which makes exchange rate and the interest rate the two regularly monitored risks for the Finance Department to ensure that our revenues do not fluctuate to the point that results in major losses. Through cash flow management, the Company ensures that an adequate amount of cash and cash equivalents are maintained to meet its operational requirements while mitigating the impact of cash flow fluctuation. The Finance Department manages liquidity risk by monitoring bank credit limits, thereby preventing the risks of a customer defaulting while protecting the Company's credits. YOKE carefully assesses the credit risk of customers or distributors that it conducts businesses with in various parts of the world. Trade terms are imposed depending on the credit risk of the location and the counterparty involved. For new customers, first-time transactions are conducted on a payment-before-shipment basis; change of payment terms for subsequent transactions may be considered depending on the customer's credibility and transaction outcome. YOKE will temporarily withhold shipment if any account receivable is uncollected when due, and in doing so mitigates the risk of loss caused by bad debt. As YOKE's retailers operate across many parts of the world, and as such, legal issues are one of the areas that require attention. With regards to patent rights, YOKE works with patent specialists to avoid the act of infringement. Due to the nature of YOKE’s global development, Any major transaction relating to operation is conducted with the help of an internationally allied law firm as YOKE’s legal counsel in order to avoid losses or violations due to unfamiliarity with foreign laws. For domestic legal affairs involving transactions and collaborations, the Company seeks comprehensive and professional counsel and assistance from local law firms.

未命名-2First aid groupAlarm groupEmergency evacuation groupSafety protection groupFirefighting groupChief commander(General manager or designated proxy)On-site commander(Factory director or designated proxy)Leader of the emergency response team(Unit supervisor or designated proxy)Competent authority(foreign aid unit)Company spokesperson(Spokesperson appointed by the Company)Assistant to on-site commander(Representative from safety and health management unit)Accident level 3Accident level 2Accident level 1

Emergency response capabilities

In order to respond correctly and effectively in case of emergency so as to minimize injury, property damage, environmental impact, or disruption of operation, we developed an emergency management plan to cover occupational and natural disasters (i.e. typhoon, earthquake), power outages, fires, the outbreak of infectious diseases. The plan also established an “emergency response organization” and a 24-hour emergency response duty roster. Messages and information shall be relayed through mobile phones to the relevant personnel according to the accident level. To strengthen our capacity for emergency response, we have been holding regular disaster prevention exercises and relevant courses. In 2020, we conducted our drills at Factories 1 and 2, with an earthquake as the emergency situation.

Incident
reporting
training

Fire
drill

First-aid
training

未命名-2

Audit mechanism

As YOKE is not a publicly listed company, we are not legally required to establish a dedicated audit department or personnel. Nevertheless, out of respect for corporate governance, YOKE has appointed audit personnel directly under the board of directors similarly to what public companies do and established specific internal control mechanisms as guidelines to supplement the Company’s internal management. At the end of each year, the annual audit plan for the following year would be established. The annual audit plan is the framework in which our various monthly audits are implemented and once completed, an audit report has to be verified by the manager of the department being audited to validate the integrity of the report before reporting to the Vice Chairman and General Manager on a monthly basis. Various defects and oversights, along with the recommended actions of improvement, will also be followed up to track the status of rectification for the departments involved. Lastly, audit reports will be included as part of the reporting agenda for the board of directors meeting.

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Safety is our first priority and
core CSR value


39, 33rd Road, Taichung Industrial Park, Taichung 407, Taiwan

Einfo@mail.yoke.com 
T+886-4-2350-8088

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+886-4-2350-8088 

#39, 33rd Road,Taichung Industrial Park, Taichung 407, Taiwan