We are working to ensure fair and honest business operations.
The Company commenced its compliance promotion activities on September 1, 2003, through the introduction and development of a corporate ethics program, through which it conducts thorough activities aimed at ensuring thoroughly fair corporate activities (corporate ethics management).
By means of the Corporate Ethics Program, we clarify our basic philosophy in the Panasonic Code of Conduct to strengthen compliance.
We also work on the following as part of the program.
Our Basic Business Philosophy helps us determine our objectives, our approach to business activities, and the general direction of our company. This philosophy comprises the Basic Management Objective, Company Creed and Seven Principles. Together these guidelines serve as a compass, helping us set and maintain the right direction for our business. Our Basic Business Philosophy is timeless and remains valid regardless of where our business takes us.
Our business primarily comprises the following integrated philosophies and processes. First, we are entrusted by society with valuable resources, including human resources, materials, funds and information. Next, we use these resources to create value-added products and services. Finally, we make these products and services available throughout the world. The most essential of these processes is the creation of added value aimed at contributing to economic, social and environmental progress with a view to achieving sustainable development. In other words, creating value and contributing to society is our primary mission.
Developing close and mutually advantageous relations with society is another key process. As we contribute to the continual progress of society, our Company is also being positively influenced by society. Our business needs both tangible and intangible support and cooperation from numerous stakeholders, including our customers, shareholders, business partners, employees and local communities. At the same time, our business activities influence those stakeholders in a variety of social, economic and environmental aspects.
Since our business is dependent on our customers and other stakeholders, we must remember that "an enterprise is a public institution," that must strive to fulfill its social responsibilities. In addition to listening to stakeholders' opinions, we must conduct our business activities transparently in order to be accountable. In short, we must continue to be fair, truthful, honest and swift in taking action to comply with our social responsibilities.
The earth is our home. It provides us with a variety of blessings including natural resources and energy. With this in mind, we will take the initiative in environmental activities to preserve our invaluable natural environment for future generations.
As a global company, we must respect human rights and do our best to understand, acknowledge and respect the diverse cultures, religions, mindsets, laws and regulations of people in the different countries and regions where we conduct business.
Today more than ever great importance is being given to corporate social responsibility and business ethics. This Code of Conduct is designed to help us implement our Basic Business Philosophy, by providing the criteria that should be observed in individual business activities in any country. This Code of Conduct, however, cannot cover all possible situations. For situations not covered in the Code of Conduct, it is important that we always refer to the Basic Business Philosophy and determine what action to take in the spirit of that Philosophy.
To put the Panasonic Code of Conduct into practice, we have created a Compliance Guidebook and distributed it to all employees. The guidebook provides a host of examples to help employees hone their activities and sense of ethics and to make judgments independently, and is helping to instill a more thorough understanding of compliance.
We have in place a Corporate Ethics Committee, which is chaired by the president, and have appointed a director to take charge of our corporate ethics. We have set up a Corporate Ethics Secretariat to boost ethics awareness, penetration and education within the Company, and we have assigned corporate ethics leaders to instill a thorough spirit of compliance.
We have put in place a Corporate Ethics Reporting Line to encourage internal reporting and as a place for consultation in the event that an employee becomes aware of activity that appears to be outside the scope of ethical behavior. Available 24 hours a day, 365 days a year, the reporting line is accessible via dedicated e-mail, dedicated fax or by post. We have set up a consultation-friendly environment and expanded the line to users outside the Company as well as inside. To protect the rights of people making use of the line, we strictly protect the identity of individuals as well as reporting content, employing due caution with regard to privacy and handling.
We require all employees to submit a statement of commitment to corporate ethics. This document is designed to ensure compliance by encouraging each employee to carry out business conscientiously and with common sense in a spirit of fairness and sincerity. Going forward, we plan to hone our corporate sense of ethics so that we will remain trusted by our customers, as we conduct our work on the basis of this shared conscientiousness, common sense and spirit of fairness and sincerity.