In addition to preventing the bribery of public officials, Panasonic, through the stipulations in the Panasonic Code of Conduct, has prohibited offering benefits of any kind—regardless of whether they occur as entertainment, gifts, or in any other form—or receiving any personal benefits in any situation in which they would be in violation of laws or social ethics.
To more thoroughly prevent bribery and corruption worldwide in a manner appropriate for today’s reality, Panasonic, on July 1, 2019, enacted new global regulations that apply to all Panasonic Group employees and executives. These regulations include the Global Anti-Bribery/Anti-Corruption Policy, Rules on Third-Party Intermediary Risk Management for Anti-Bribery/Anti-Corruption, Rules on Gift and Hospitality for Anti-Bribery/Anti-Corruption, and Rules on Conflict of interest. The company will also introduce processes for reviewing new risks to discover bribery and corruption risks before transactions take place when starting or renewing dealings with "Third-Party Intermediary".
The company enacted the Global Anti-Bribery/Anti-Corruption Policy to effectively prevent, discover, investigate, and correct acts of genuine corruption or those deemed to be corruption with regard to the bribery of public officials and corruption related to business partners. Specifically, it prohibits facilitation payments and acts considered bribery or corruption in connection with political contributions, donations, or sponsorships; lobbying; hiring and recruitment; and mergers, acquisitions, and joint ventures. It also specifies procedures for preventing bribery and corruption.
Panasonic enacted Rules on Third-Party Intermediary Risk Management for Anti-Bribery/Anti-Corruption to establish general rules for identifying, reviewing, selecting, and registering intermediary sellers and special subcontractors, as well as for initiating and terminating transactions with such parties.
These rules are meant to mitigate the risks of bribery and other forms of corruption regarding intermediary sellers or service providers and to prevent, discover, investigate, and correct genuine or potential problems related to these risks.
With the Rules on Gift and Hospitality for Anti-Bribery/Anti-Corruption, the company enacted specific procedures for prohibiting the provision or receipt of gifts or entertainment, including meals, hospitality, and travel costs, in relation to public officials or business partners. These procedures are meant to prevent the risks related to these acts of bribery or corruption.
The Rules on Conflict of Interest establish specific actions that could be conflicts of interest, while also establishing rules related to preventing, identifying, managing, and correcting conflicts of interest.
To ensure full compliance with these new global regulations on bribery and corruption prevention, Panasonic will continue raising awareness and promoting efforts companywide.