At the heart of the fundamental guiding business principles that Sumitomo Chemical has consistently followed ever since its foundation is the Sumitomo Spirit. The Sumitomo Spirit requires that Sumitomo 's business must benefit not only Sumitomo itself, but also the nation and society in general, thereby maintaining harmony between its own interests and those of the public.
Maintaining harmony of interests between a company and the public is tantamount to the company attaining “compliance” in undertaking business activities, which encompasses not only abiding by laws and regulations, but also acting ethically and respecting social norms. Only by so behaving can a company engage in sound and fair business practices, ultimately contributing to the benefit of society. In a nutshell, the Sumitomo Spirit is the very birthplace of Sumitomo Chemical’s strong aspirations for ensuring compliance.
Over the decades, companies of Sumitomo Chemical Group have steadily expanded and diversified business operations into every corner of the world. In order to sustain and further develop business in a wide array of countries where cultures and social environment much differ, each company must recognize itself as a responsible corporate citizen and act accordingly, and earn the steadfast trust of various stakeholders. To ensure compliance while promoting business activities is gaining ever greater importance.
In the following sections, we are outlining some of the concrete efforts we are making toward ensuring Group-wide strict compliance.