Promotion of Fair and Transparent Transactions
TOYO TIRE includes free competition and fair transactions in the Toyo Tire Group Code of Conduct, and it adheres to antimonopoly laws and the Subcontract Act, undertaking fair purchasing activities, compliance with import and export related–laws and regulations, and provides appropriate labels and explanations. For example, at Toyo Tire Corporation, we ensure our business activities are based on fair and free competition by formulating not only purchasing transaction rules that stipulate various matters such as fair, non-discriminatory transactions and a prohibition on personal interest in business partners, but also cartel prevention rules, which prevent cartels, collusion, and acts that could invite these, which are prohibited under antimonopoly laws.
Thorough Compliance in Purchasing Transactions
With the Toyo Tire Group Code of Conduct as our action guidelines, we formulate our own codes of conduct to reflect differences in laws, regulations, and customs of each country and regions, and strive to spread and promote compliance.
For transparent transactions with suppliers, the Procurement Division, Legal Department, and Compliance Department jointly compiled a checklist. They continually implement self-assessments of the status of compliance with the Act against Delay in Payment of Subcontract Proceeds, Etc. to Subcontractors of Japan using the checklist. The checklist allows them to see whether or not the Act applies to each transaction and, if it does, to check what documents need to be prepared and stored and whether any information is omitted from the documents. Meanwhile, they continue to organize seminars for employees by inviting guest lecturers.
With these initiatives, we ensure that such information is shared throughout the Group, in order to help members of the procurement team to increase their knowledge and bring the level of understanding to a shared standard.
Use of Electronic Bidding System
With the goal of preventing misconduct and collusion due to contact between parties in charge of purchasing and reducing bidding-related costs, we introduced an electronic bidding system for selecting business partners at main locations in and outside Japan. The system is designed to ensure fairness and transparency of our supplier selection process.
Projects for which a business partner was selected using this electronic bidding system include the introduction of equipment and leasing of company cars.
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