Mitsui Chemicals has Released its Group Policy on Bribery Prevention

December 6, 2016
Mitsui Chemicals, Inc.

Mitsui Chemicals Inc. (Tokyo: 4183; President & CEO: Tsutomu Tannowa) has formulated Mitsui Chemicals Group Policy on Bribery Prevention.

Mitsui Chemicals Group Policy on Bribery Prevention

Overview and declaration

With business taking on an increasingly global nature with each passing year and in light of the world’s heightened focus on bribery in recent years, the further development and strengthening of an international bribery prevention framework is an important task to be addressed by the Mitsui Chemicals Group as a whole.

The Mitsui Chemicals Group will comply with all regulations aimed at preventing bribery in the countries and regions in which the Mitsui Chemicals Group is engaged in business, including the Unfair Competition Prevention Act of Japan, the Foreign Corrupt Practices Act of the U.S., and the Bribery Act of the U.K. (all such regulations, the “Bribery Regulations”). Whenever it is faced with choosing between profits or compliance, the Mitsui Chemicals Group will never hesitate in prioritizing compliance.

With the aim of preventing bribery by clearly stating matters such as the basic stance of the Mitsui Chemicals Group towards bribery and the rules to be followed by its personnel, the Mitsui Chemicals Group has formulated this Policy. This Policy applies to all personnel of the Mitsui Chemicals Group.

December 1, 2016
Tsutomu Tannowa
President

Matters to be complied with

  1. Prohibition of bribery
    Personnel of the Mitsui Chemicals Group will not engage with any other person in any act of making or receiving a bribe.
  2. Development of bribery prevention framework
    The Mitsui Chemicals Group will strive to operate its compliance-related departments, and whistleblowing notification centers in a fair and equitable manner, and will maintain and operate organizations and systems designed to prevent acts of bribery.
  3. Education and training
    The Mitsui Chemicals Group will continually provide education and training to personnel in order to further ensure an ethical mindset aimed at preventing bribery and to secure the operation of its bribery prevention framework.
  4. Audits and system reviews
    The Mitsui Chemicals Group will perform periodic audits to confirm whether its bribery prevention framework is actually functioning and, based on the results of such audits, will continually review the effectiveness of the bribery prevention framework of the Mitsui Chemicals Group (including this Policy) and make improvements as necessary.
  5. Recording and storing of transaction details
    In order to evidence its compliance with the Bribery Regulations of each country and with this Policy, the Mitsui Chemicals Group will use appropriate internal control systems to factually and accurately record approval documents, accounting books, and the like relating to expenditures, and will appropriately store all relevant ledgers and forms.
  6. Disciplinary action
    If an employee violates this Policy, the Mitsui Chemicals Group will take appropriate and swift disciplinary action in accordance with the work rules and the like.

Definition of terms

(1)
"Making a bribe" means giving, or offering or promising to give, any money or other benefits to a public officer, etc., directly or indirectly, for the purpose of having the public officer, etc. act or refrain from acting in a particular way in relation to his or her duties, or having the public officer, etc. use his or her position to influence another public officer, etc. to act or refrain from acting in a particular way in relation to that officer’s duties, in order to obtain illicit gains in business. For example, providing hospitality or gifts to an instructor or staff member of a national public university, or to a physician or staff member of a national public hospital, would constitute “making a bribe.”
(2)
"Receiving a bribe" means receiving, or demanding or promising to receive, any money or other benefits in relation to one’s own duties for the purpose of obtaining illicit gains for oneself or a third party.
(3)
"Bribery" means the act of making a bribe or receiving a bribe.
(4)
"Public officer, etc." includes any of the following persons:
(i)
a person engaged in public duties for the national or local governments of its own or a foreign country ("Governments");
(ii)
a person who engages in the affairs of an entity established under a special law or regulation to carry out specific affairs related to the public interest;
(iii)
"a member of staff of any of the following public companies or entities ("companies, etc.") granted special privilege by a Government:
(a)
a company, etc. in which a Government directly or indirectly holds a majority of the voting shares or paid-in capital;
(b)
a company, etc. the majority of whose officers are appointed or nominated by a Government;
(c)
a company, etc. otherwise substantively controlled by a Government;

(iv)
a political party or a staff member thereof;
(v)
a candidate for public office;
(vi)
a person engaged in public duties for a public body;
(vii)
a person engaged in the affairs of Government or public body as authorized thereby; or
(viii)
any other person similar to any of (i) through (vii) above.
(5)
"Personnel" means all officers, employees, and temporarily employed persons of the Mitsui Chemicals Group.