Basic Policy of Management
The Sumitomo Electric Group, in accordance with the Sumitomo Spirit and the Sumitomo Electric Group Corporate Principles, shall strive to be a group of companies worthy of society's trust by conducting the business activities in an honest manner.
The Sumitomo Spirit
The Sumitomo Spirit grew out of the guiding principles set down by Sumitomo founder Masatomo Sumitomo in his "Monjuin Shiigaki" (the Aphorisms of Monjuin). This corporate spirit has been developed, deepened, and handed down over generations in the Sumitomo Family enterprise, and its essence was distilled in the Rules Governing the Sumitomo family established in 1882, and formulated into two business principles in 1891. Although there were some corrections to the wording, the Business Principles have been inherited with no change in the contents up to now.
Sumitomo shall achieve prosperity based on solid foundation by placing prime importance on integrity and sound management in the conduct of its business.
Sumitomo’s business interest must always be in harmony with public interest; Sumitomo shall adapt to good times and bad times but will not pursue immoral business.
Banji-nissei means “do your sincere best, not only in business, but also in every aspect of your life. ”Originating from the preamble of Monjuin Shiigaki, it speaks of the importance of sincerity in all human endeavors. Banji-nissei is a pivotal teaching in the Sumitomo Spirit. Accordingly, Sumitomo personnel are expected to work not only to make money, but also to cultivate their character and grow into better human beings.
The Business Principles Article 1 emphasizes the importance of integrity; that is, being worthy of the trust of others.
In its first part, Article 2 speaks of the importance of working proactively, pursuing profit by quickly and appropriately responding to changes in society and not being content with the status quo. At the same time, Article 2 emphasizes the importance of harmonizing business gains with the public interest and scorns reckless or careless actions in pursuit of easy gain. While furi means easy, temporary or short-term gain, the term also implies unfair profit obtained through dishonest means.
In addition, the Sumitomo Spirit also includes the following principles.
Attaching Importance to Technology
Sumitomo’s original copper business centered on the nanban-buki (foreign-style) refining technique that at the time was the leading edge of smelting technology. Emphasis on using the newest technology and actively developing new technologies has been a driving force in the development of Sumitomo business from its very beginnings.
Respect for Human Resources
Discovering and nurturing superior human resources has always been the most important objective for managers, and the Sumitomo tradition that “people make the enterprise” remains in full force to this day.
The spirit of Sumitomo’s business planning developed from the original copper refining operation’s view toward long-term and continuous business. A realistic, long-term view of the future complemented by a wider perspective of country and society has guided Sumitomo managers for generations.
Mutual Prosperity, Respect for the Public Good
Sumitomo’s Director General Teigo Iba once said, “Sumitomo’s business must benefit not only Sumitomo itself but also the nation and society in general.” Sumitomo has always conducted business in harmony with the public interest based on the fundamental spirit of “gratitude toward society.”
Sumitomo's history and spirit are introduced on the following website.
The Sumitomo Electric Group Corporate Principles
(Established in June 1997)
Each company of the Sumitomo Electric Group shall
- Offer the very best goods and services to satisfy customer needs.
- Build technical expertise, realize changes and strive for consistent growth.
- Contribute to creating a better society and environment, with a firm awareness of our social responsibility.
- Maintain high corporate ethics and strive to become a company worthy of society's trust.
- Nurture a lively corporate culture that enables employee self-improvement.
The Sumitomo Electric Group Charter of Corporate Behavior (Enacted on September 1, 2005)
The Sumitomo Electric Group Charter of Corporate Behavior guides us, from the group directors to employees, in our actions. It identifies the objectives we should pursue with strong determination and commitment, and rules we should observe in all circumstances, so that we can act out the Sumitomo Spirit and the Sumitomo Electric Group Corporate Principles.
1. Provision of Useful and Safe Products and Services
We will aim to provide useful and safe products and services that will satisfy customers in all aspects including quality and cost.
2. Development of New and Original Businesses and Products
We will aim to develop new, original, and profitable businesses and products by using our unsurpassed creativity to meet customers' demands.
3. Growth and Development of the Sumitomo Electric Group through Global Business Activities
We will strive for consistent growth of the Sumitomo Electric Group by consistently conducting our businesses with a global perspective and taking full advantage of the Group's dynamic business operations.
4. Contribution to Preservation of the Global Environment
We will contribute to the construction of a sustainable society, taking voluntary and active initiatives to preserve the global environment.
5. Observance of Laws and Regulations
We will observe national and international laws and regulations and always act fairly and openly.
6. Fair and Proper Business Activities
We will promote fair, transparent, and free competition and sound trade.
7. Conduct as a Member of Society
We will contribute to creating a better society, with a firm awareness of our social responsibility as a "good corporate citizen."
We will maintain a strong stand against any force that threatens public order and safety.
8. Harmony with the International Community
As a corporate member of the international community, we will respect the culture and customs of every region of the world and contribute to the development of those regions.
9. Safe, Sound Workplace and Employees' Growth and Development
We respect the rights of all individuals and will endeavor to make our workplaces safe, sound and energetic.
We will strive to respect the personality and individuality of our employees and support their professional development and career to enable self-realization.
10. Disclosure of Relevant Information and Promotion of Communication with Society
We will aim to disclose appropriate corporate information to our various stakeholders, including shareholders.
We will also promote good communication with society through public information and hearings.