Sumitomo Pharma has declared in our publicly announced Declaration of Conduct our commitment to "comply with laws and regulations, and conduct transparent and fair corporate activities with the highest level of ethics." To put this declaration into practice and ensure full compliance, we have established Compliance Standards and use them as concrete guidelines for business activities.
One of Sumitomo Pharma's executive officers is charged with overseeing all compliance matters of Sumitomo Pharma and its group companies around the world. Three compliance committees have been set up: the Compliance Committee of Sumitomo Pharma, the Compliance Committee of the group companies in Japan and the Compliance Committee of the group companies outside Japan. The Sumitomo Pharma executive officer in charge of compliance serves as chair of each of the three committees and reports to the Board of Directors on the committee activities. In fiscal 2021, each compliance committee held meetings remotely and the details of those meetings were reported to the Board of Directors.
Sumitomo Pharma has set up internal and external compliance hotlines through which its officers and employees can make reports and consultations relating to incidents of real or threatened compliance violation, and the Company operates such compliance hotline in an appropriate manner. Similar compliance hotlines have been installed in the group companies in and outside Japan. The officers and employees of such group companies may use the Sumitomo Pharma hotlines.
The Company rejects any relationships whatsoever with anti-social forces and has established special provisions allowing for the termination of a contract signed with a counter party that the Company deems to be an anti-social force. Additionally, from the perspective of preventing corruption in business activities, the Company has stipulated Corruption Prevention Guidelines, while also specifying provisions against corruption in new transaction contracts that accompany the acceptance of compensation.
Framework for compliance implementation
Click here (Compliance in the "About Us") for details.