Promotion of Fair and Transparent Transactions
The Toyo Tire Group 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 example, at our company in fiscal 2017, our Legal Affairs Department worked with the Compliance Department and Purchasing Department to conduct a self-assessment by all departments within the Group that work with suppliers. The assessment was intended to determine how well the departments understood the Subcontract Act and how much they complied with the law. We analyzed the assessment results and are implementing corrective and preventative actions as necessary.
Through the Subcontract Act Compliance Managers Meeting, have on-going study groups, started using standard manuals, and share information within the group. We ensure that those managers have adequate knowledge and understanding of the law.
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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- Toyo Tire Group Priority Themes and Value Chain
- Priority Theme 1: Product and Service Reliability and Innovation
- Priority Theme 2: Contribution to the Global Environment
- Priority Theme 3: Respect for Human Rights and Diversity
- Priority Theme 4: Collaboration with Business Partners
- Priority Theme 5: Harmony with Local Communities
- Priority Theme 6: Creating Safe and Healthy Workplaces
- Priority Theme 7: Reinforcement of Corporate Governance and Compliance
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