Taisho Pharmaceutical's mission in its philosophy is to contribute to society by creating and offering superior pharmaceuticals and health-related products as well as healthcare-related information and services in socially responsible ways that enrich people's lives by improving health and beauty. We have thus sought to conduct business activities sincerely and passionately while respecting the Company's founding spirit of "doing business as a shinsho*."
We conduct compliance activities to ensure that all Group employees correctly understand this approach and constantly implement it in the course of fulfilling their respective duties.
*Shinsho (literally translated as "gentlemanly business"): Reflects the Company's founding spirit as expressed in the phrase "Follow the tradition of shinsho." This refers to the operation of a business with honesty, diligence, and passion; instilling an individual and a company with pride to fairly interact with society and consumers.
Establishment of Corporate Compliance Principles of Taisho Pharmaceutical and the Declaration of Corporate Conduct
We enacted the Corporate Compliance Principles of Taisho Pharmaceutical in July 2001. Executives and all employees pledge and endeavor to fulfill our daily work in conformity with these principles. The Compliance Principles of Taisho Pharmaceutical consist of principal themes and accompanying sub-themes, which set forth basic principles guiding conduct at various worksites.
In August 2006, Section Principles were adopted to better comprehend the Corporate Compliance Principles. These Section Principles provide more familiar and practical guidelines on compliance, thereby enhancing company understanding and implementation. The Section Principles are regularly updated to reflect organizational changes as well as changes in the business environment as a matter of course. Each section adheres to these principles, which mirror actual conditions.
In April 2010, the Company established the Declaration of Corporate Conduct, in order to express its philosophy in terms of more concrete behavior and set forth matters that all directors and employees must comply with in the course of business activities. The Declaration of Corporate Conduct is the premise for the Corporate Compliance Principles of Taisho Pharmaceutical, which provide decision-making criteria for employees to observe as they fulfill their daily duties. The Declaration of Corporate Conduct sets forth the basic belief that the Company should work to ensure compliance based on a clear recognition of its responsibilities to consumers, suppliers, customers, employees, shareholders and society at large.
At the same time, we have updated the Corporate Compliance Principles of Taisho Pharmaceutical to align the content with the Declaration of Corporate Conduct.
In this manner, we strive to cover matters closely related to each section in detail, based on our philosophy, Declaration of Corporate Conduct and Corporate Compliance Principles, so as to facilitate every employee's understanding and implementation of compliance.
Our organization and systems to ensure compliance
To ensure promotion of compliance activities we appointed a director to the position of Compliance Officer and established the Compliance Management Section as a specialized compliance organization. In addition, we have clarified the responsibilities of all directors and general managers for promoting compliance at their respective departments. Based on this, compliance promotion staff have been appointed at each worksite to provide practical assistance with raising awareness of compliance and identify worksite compliance-related issues.
We have also established compliance themes common to all worksites or the operations of multiple sections. Sections in charge of these themes have been identified as "sections in charge of compliance in specific fields." Besides compliance promotion activities undertaken at the section level, we also conduct systematic compliance promotion activities at the Company-wide level.
By extensively promoting these sorts of compliance activities closely tied to each worksite, we strive to implement our approach to compliance across the Company, while providing a framework that facilitates the prompt identification of compliance issues and uncertainties at an early stage and related consultations. In these ways, we actively work to ensure compliance throughout the Company.
Our compliance activity incorporates the PDCA cycle of Plan, Do, Check, and Act, so that our activities will continue with appropriate improvements.