Other Policies
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In line with its basic sustainability policy to realize its management philosophy, the CMP Group conducts procurement activities with suppliers based on the following policies.
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1. Open and fair trade
The CMP Group constantly seeks to create business opportunities with new business partners. We decide on business partners fairly by comprehensively evaluating quality, price, delivery schedule, reliable supply, and technical services.
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2. Compliance
n its procurement activities, the CMP Group complies with all relevant laws, regulations, and social norms, and takes appropriate actions in consideration of morals and human rights.
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3. Mutual trust and mutual development
Through fair and honest procurement activities, the CMP Group builds relationships of mutual trust with suppliers and strengthens the relationships for mutual development.
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4. Preserving the global environment by reducing environmental impact
In order to contribute to environmental preservation through procurement activities, the CMP Group considers CSR assessment and ISO 14001 certification when selecting suppliers, and aims to contribute to society throughout the supply chain.
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5. Appropriate management system for confidential information
The CMP Group appropriately manages confidential information obtained through procurement activities and strives to prevent leakage.
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We recognize that we benefit from biodiversity in all aspects of our business activities and that our business activities impact biodiversity in various ways. Therefore, we have a responsibility to work for the conservation and sustainable use of biodiversity so as not to adversely affect it.
Today, there is a need to stop and reverse the rapid loss of biodiversity on a global scale and move it onto a recovery track (“Nature Positive”).
We will continue to promote activities for the conservation and restoration of biodiversity.
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1. We will strive to reduce the impact on biodiversity throughout our business activities.
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2. We will promote the development of products that take into consideration the conservation of biodiversity.
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3. We will endeavor to understand our dependence and the impacts we have on biodiversity in our supply chain.
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4. We will comply with international agreements and the laws and regulations of each country.
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5. We will conduct our business activities with consideration so as not to damage the local ecosystem.
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6. We will strive for collaboration and cooperation with external stakeholders to enhance the effectiveness of biodiversity conservation and restoration.
- The CMP Group has established a management philosophy of “contributing to the achievement of a sustainable society through our business activities and enhancing the prosperity of all stakeholders,” and positioned the fulfillment of a broad range of social responsibilities to stakeholders as a management priority. Based on this management philosophy, we are committed to respecting the human rights of all stakeholders affected by the business activities of the Group.
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1. Compliance with international human rights laws and norms
The Group is committed to respecting human rights as defined by the International Bill of Human Rights and the International Labour Organization (ILO)’s Declaration on Fundamental Principles and Rights at Work, and complies with the relevant laws and regulations applicable in each country and region of its operation. To implement our commitment to human rights, we have established this policy based on the United Nations Guiding Principles on Business and Human Rights.
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2. Respecting human rights through business activities
The Group does not engage in any type of discrimination or harassment based on race, gender, creed, or any other personal characteristics, or in any way infringe on human rights in its business activities. We will mitigate and prevent any adverse impacts on human rights in our business activities, and fulfill our responsibility to respect human rights by strictly adhering to our compliance manual and various policies. We expect our supply chain and business partners to support this policy, and ask that they respect human rights.
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3. Human rights due diligence
Through its mechanism for human rights due diligence established in accordance with the United Nations Guiding Principles on Business and Human Rights, the Group identifies any adverse impacts on human rights and strives to prevent or mitigate them.
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4. Remedies
If the business activities of the Group have been shown to have caused or are suspected to have been indirectly involved in causing any adverse impacts on human rights, we will take appropriate actions to remedy such impacts.
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5. Education and dialogue
The Group is committed to ensuring that this policy is incorporated into and effectively implemented in its business activities by continuing to provide appropriate education and training to all its officers and employees. Further, in implementing our commitment to human rights, we will engage in dialogue not only internally but also with relevant stakeholders to appropriately address any issues that may arise.
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6. Information disclosure
The Group will disclose the progress and results of its human rights initiatives on its website and through other channels.
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1. Basic policy
CHUGOKU MARINE PAINTS, LTD. and its subsidiaries (collectively, “CMP Group”) make appropriate tax payments in compliance with tax laws and regulations in the relevant countries and regions where CMP Group does business to fulfil their social responsibilities.
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2. Tax governance
In CMP Group, the director in charge of Finance and Accounting has the responsibility for CMP Group’s tax governance, and the department in charge of tax which reports and manages tax matters is supervised by the director.
To fulfill the tax obligation appropriately, CMP Group, establishing and maintaining the internal control system and the risk management system, carries out tax-related tasks properly such as tax documentation and document management and makes its best efforts to reduce tax risks arising from errors in practical operations.
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3. Tax planning
To maximize CMP Group’s shareholder value, CMP Group strives to utilize effectively the tax relief measures available in general business activities in the relevant country or region and optimize tax costs. Furthermore, CMP Group shall not implement any measures based on interpretation departing from the tax regulations, which may be considered or interpreted as tax evasion.
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4. Uncertainty of tax positions
To deal with the increasing tax risks caused by the extended reporting obligation for the global business, highly developed tax investigation and its forceful enforcement in the relevant country or region, CMP Group consults with tax advisors and seeks advice as necessary.
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5. Transfer pricing
Prices that are applied to CMP Group’s transactions are set in consideration for the relative risk and added value in accordance with the Transfer Pricing Guidelines published by the OECD and also in accordance with the arms’ length principle. In cases where the documentation of the pricing method is obligatory in the relevant country or region, or where such documentation is necessary due to factors such as transaction size and potential taxation risks, CMP Group generates the documents in an appropriate manner.
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6. Tax havens
When establishing a subsidiary, CMP Group determines the country to establish in order to conduct general business activities, not to avoid taxes. When investing in a low-tax country, CMP Group makes appropriate tax payments in accordance with the laws and regulations of the relevant country or region.
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7. Relationship with tax authorities
CMP Group endeavors to maintain proper and cooperative relationships with the tax authorities in the relevant country or region where CMP Group does business through communication. CMP Group explains to and corresponds with them in a sincere and appropriate manner.
CMP Group consults with the tax authorities about the important tax matters and unusual transactions depending on the situation. If tax authorities notify CMP Group of tax adjustments, CMP Group determines the cause of such issues, and takes appropriate corrective measures or improving measures unless CMP Group files a petition of objection or tax lawsuit.
