Policy

Procurement Policy

1. Scope of Application

This Procurement Policy (this “Policy”) provides the our basic principles on our procurement activities, with which we, including directors, officers, employees, contract employees, and temporary workers (collectively, "All Officers and Employees") will comply when procuring from outside us raw materials, production facilities, IT, logistics, and other services necessary for our corporate activities.

2. Basic Principles

We will engage in responsible procurement activities based on the following principles:

Ensuring Fairness, Equitability, and Transparency

  • We will conduct fair, equitable, and highly transparent procurement activities.
  • We will provide fair opportunities for entry and introduce the principle of competition in the selection of suppliers. Moreover, we will objectively and comprehensively evaluate and determine a supplier based on technical capabilities and corporate philosophy (management policies, considerations to human rights, labor, safety and health, fair trade, ethics, etc.) in addition to quality, cost competitiveness, and delivery time.

Compliance and Confidentiality

  • We will comply with social norms, laws and regulations related to procurement activities and the spirit thereof, and our internal regulations, as well as act sincerely with high ethical standards.
  • We will not involve personal interests with any supplier, nor demand undue or improper advantage, nor select a supplier arbitrarily. We will refuse to have any relationship with antisocial forces.
  • We will maintain confidentiality of and appropriately manage important information provided by our suppliers.

Consideration for the Environment and Safety

  • We will strive to prevent pollution and reduce environmental impact by practicing procurement that considers the global environment.
  • We will aim to achieve zero-accidents and zero-disasters in procurement activities such as various construction work and transportation of our products by making intensive and continuous efforts to maintain and improve occupational health and safety.

Building Partnerships

  • We will strive to build mutual cooperation and relationships of trust with our suppliers and aim to contribute to achieve mutual business development.

3. Management System

We will appoint an officer in charge who is responsible for the management and supervision, etc., of procurement activities and will establish a system for purchasing raw materials, production facilities, IT, logistics, and other services necessary for our corporate activities in an appropriate manner.

4. Establishment of Regulations

We will establish regulations based on this Policy, provide clear rules regarding procurement activities, and ensure that All Officers and Employees are aware of the same.

5. Establishment of Regulations related to Procurement

  • We will educate All Officers and Employees and strive to have this Policy thoroughly implemented and complied with.
  • We will strive to make our suppliers more understanding of this Policy, through action such as informing and explaining this Policy as required.