Fair Operating Practices : Management Approach

Working to improve ethical consciousness of employees in adhering to the antitrust act and preventing corruption

With brisk corporate activities on a global scale crossing national borders, scandals have frequently occurred due to insufficient awareness and oversight among related parties, in addition to intentional illicit and criminal behavior. Meanwhile, some countries and regions do not have robust legal systems, and employees working at companies that conduct important transactions in these countries and regions must remain highly conscious about these issues.

On a worldwide basis, Panasonic enforces strict adherence to laws, regulations and corporate ethics, centered on the Panasonic Code of Conduct, which covers the essentials such as the Organisation for Economic Co-operation and Development (OECD) Guidelines for Multinational Enterprises, in order to promote fair business practices and realize a sustainable society in countries and regions around the world.

Compliance to the Code of Conduct is overseen globally through collaboration among legal affairs departments established at each Divisional Company, business division, and overseas regional headquarters, directors and executive officers in charge of adherence to the Code of Conduct, as well as managers in charge of fair trade, export control, and functional groups.

The Compliance Committee, composed of directors, executive officers and corporate auditors, steers deliberations on measures to ensure compliance with the Antitrust Act and to prevent corruption.

Panasonic has designated September as Compliance Awareness Month, during which it strives to embed awareness of ethical and legal compliance issues among employees. We also conduct a Compliance Awareness Survey during the month to assess the level of awareness of our employees around the world. Panasonic confirms once a year that the Code of Conduct is being followed and applied as intended at all of its sites around the world.

In addition, Panasonic has set up hotlines at its sites inside and outside Japan, as well as a whistleblowing system for business partners, in order to prevent and quickly resolve scandals.