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Procurement

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Procurement Policy

FURUNO ELECTRIC CO., LTD. has held its fundamental principles for procurement in order for us to conduct optimum procurement activities at all times. What is more, we have set the criteria for selection of the partner companies in an effort to cultivate and maintain fair business cooperation with the partner companies based upon unbiased evaluation.

Fundamental Principle for Procurement

1.Observance of ethics for procurement activities
We strive to maintain observance of related laws and regulations both domestic and international as well as "FURUNO Group Code of Conduct". In order to conduct healthy procurement activities, we are determined to refrain from receiving any personal benefit, business entertainment or gift that are beyond a social norm from the partner companies both existing and prospective.
2.Fair conduct of business activities
We are determined to provide any companies irrespective of their nationalities and business scales with equal business opportunities, and we conduct fair evaluation of prospective partner companies, solely based upon transparent criteria based upon logic.
3.Harmonious co-existence with the partner companies
We are determined to deal with the partner companies on the equal basis with utmost sincerity irrespective of their nationalities and business scales, and we strive to establish and maintain the business relations based upon mutual trust with the partner companies.
4.Pursuit for optimum procurement environment
In order to pursue to conduct optimum procurement activities both domestic and international, we strive to promote procurement activities with the vision to achieve enhanced Quality, Cost performance and swifter Delivery time, while taking into our consideration the Environmental conservation.
5.Implementation of Corporate Social Responsibility (CSR)
With close cooperation with our partner companies, we strive to fulfil the corporate social responsibility of the FURUNO group throughout our supply chain.

Criteria for Selection of the Partner Companies

1.Business principle
The partner companies are to run and conduct healthy business activities while taking into the consideration the compliance and goodness of the environment.
2.Optimization of procurement activities
The partner companies are to live up to the standards FURUNO sets in terms of quality, cost, delivery time and environmental conservation.
3.Stable supply of the materials
The partner companies are to be fully capable of supplying the materials based upon our production time frame as well as order placement, and the management system to facilitate stable supply of the materials should be in place.
4.Technical expertise
The partner companies are to possess ample technical expertise that contributes to enhancement of performance, quality and cost competitiveness.
5.Information management capability
The partner companies are to have information management system in place so that appropriate use of personal information, classified information and any other information deemed necessary for business activities be maintained.

FURUNO Group's Approach to Conflict Minerals

Section 1502 of the "Dodd-Frank Wall Street Reform and Consumer Protection Act" signed into law in the USA in July 2010 requires companies listed in the USA to disclose certain information regarding conflict minerals, including the extent to which they use conflict minerals originating in the Democratic Republic of the Congo or adjoining countries in their products.
To continue to be socially responsible with respect to this issue, we are taking steps to avoid the use of Conflict Minerals includes tantalum, tin, gold, tungsten and other minerals, the proceeds from which could finance armed groups.
We ask for the understanding of our partner companies and their cooperation with our surveys.

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