As we recognize that a fair and free competitive market is indispensable to healthy corporate activities and that competition laws and their principles require that enterprises within our industry seek to protect the fair and free competitive market, the FURUNO Group endeavors to fully comply with all the competition laws as well as any and all other laws and regulations related to its business.
From this basic understanding, in order to establish a global compliance system within the FURUNO Group, this Competition Compliance Policy (this “Policy”) has been established as a guideline to ensure full compliance with the competition laws.
- Prohibited Actions
The FURUNO Group prohibits its directors, officers and employees (the “Employees”) from engaging in activities that violate the competition laws which forbid cartels, resale price maintenance, tie-in sales, abuse of market dominant position and so on. No activity that would violate the competition laws shall be justified by virtue of business custom, the authority or position of the violator, maintaining or expanding business, or making profits.
- Penalties for Violations
(1) The FURUNO Group shall review any suspected violation of the competition laws and immediately take appropriate measures to respond to any violation. Moreover, the FURUNO Group shall respond to investigations by the competition law authorities in a sincere manner.
(2) The FURUNO Group shall rigorously impose strict penalties on any of the Employees who are found to be in violation of this Policy, based on the rules of the FURUNO Group.
- Compliance System
The president/managing directors of all FURUNO Group companies bear a responsibility to ensure that their Employees abide by this Policy. In addition, the Employees of the FURUNO Group who detect any action that violates or could violate this Policy are required to report such action immediately to their company and the headquarters.
- Applicable Scope
This Policy applies to all Employees of the FURUNO Group. All business partners involved in the FURUNO Group’s business activities will be requested to make consideration to and give support to this Policy.
Enacted: Novmber 1, 2022
Yukio Furuno, President and CEO