Compliance

Our view on compliance

The Mitsuboshi Belting Group regards "compliance" as one of the important elements in our initiative to deepen our ESG Management with the aim of sustainable growth. Maintaining good compliance in our business activities is directly linked to gaining the trust of all stakeholders and thereby improving corporate value. We recognize this as a critical matter we must focus and ensure as the Group, which touts itself as a manufacturing company.

In 2022, we made major revisions to our previous Code of Conduct in consideration of the ten principles of the United Nations Global Compact and other factors to ensure that it is compatible even with today’s society, in which companies are expected to play a greater role. This Code of Conduct has been translated into a total of five languages, including English and Chinese, and has been disseminated to all employees of the Mitsuboshi Belting Group. Also, with the aim of ensuring that each employee correctly understands this Code of Conduct, meetings are also held at each department to read it.

Revision of the Mitsuboshi Belting Group Code of Conduct

－Management system

The Mitsuboshi Belting Group has established the Compliance Committee, which is chaired by an executive appointed by the President and is comprised of members who are the heads of all departments, for the purpose of the overall management of compliance management activities in our business operations.
The Compliance Committee, in principle, meets three times a year to identify significant compliance risks that the Mitsuboshi Belting Group must address for each fiscal year, establish response policies with responsible organizations and goals, monitor and evaluate the implementation status of the responsible organizations, and provide instructions as necessary. The details of committee activities are reported to the President and the Board of Directors.

－Implementation status

In FY2022, no significant compliance risks were identified as in the previous year. The Compliance Committee reviewed its activities with the aim of improving the compliance management system of the entire Mitsuboshi Belting Group. In FY2023, the Risk Management Committee monitors the status of responses to serious compliance risks. We plan to develop a system that will allow us to completely identify compliance management activities of all departments, which are currently monitored through internal audits conducted by the administrative department at the head office, and to gather information to identify what we have succeeded and failed, and to roll out continuous improvement activities.
In FY2022, there were no anti-competitive or corrupt practices in the Mitsuboshi Belting Group.

Whistleblowing system

The Mitsuboshi Help Line is in place as a system to ensure the proper handling of consultations from or information provided by the Group’s executives and employees in Japan and overseas regarding the violation or possible violation of (1) laws, (2) the articles of incorporation, (3) internal rules and regulations, (4) contracts, or (5) social norms. External law firms serve as the point of contact for whistleblowing, and personnel designated as "Person Engaged in the Activity of Dealing with Whistleblowing Disclosures” handle each case. In handling a case, care will be taken to ensure that the act of whistleblowing does not cause disadvantage to the whistleblower, and those who violate this will be subject to disciplinary action. We will continue to ensure the prevention of misconduct and strengthen our compliance management. The number of reports in FY2022 was four.