Toyo: no leeway with proper corporate behavior
Toyo Tire & Rubber Co. Ltd. has established two group policies: “Toyo Tires Group Charter of Corporate Behavior” and “Toyo Tires Group Code of Conduct.”
"The trend in recent years toward tighter international regulations requires enhancement of governance and internal controls as a corporate group," says the company. "Additionally, in light of environmental and other issues, CSR (Corporate Social Responsibility) has become more important than ever."
The new principles requires all domestic and overseas group companies, officers and employees to conduct business "with sincerity and integrity." The charter and code will be produced in multiple languages with important criteria clearly articulated in simple, easy-to-understand wording.
The "Toyo Tires Group Charter of Corporate Behavior” sets forth 10 action principles to be shared by each group company. They are (broken out by category):
1. Comply with all laws, regulations, standards and internal rules.
2. Conduct business activities in conformance with the principles of free competition
and fair trade.
3. Conduct ourselves with the highest ethical standards in our relations with the
4. Strive for the highest levels of quality, safety and societal benefits in our products
5. Ensure a safe and healthy work environment for all of our employees.
6. Promote workplace diversity and inclusion of each employee.
7. Engage in sound, sustainable environmental practices.
8. Communicate with stakeholders in an open and fair manner.
9. Contribute to the growth of the local economy and community.
10. Conduct business with respect for human rights, local cultures, and customs.
The “Toyo Tires Group Code of Conduct” sets forth 15 rules of conduct for each individual to follow in order to put the charter into practice. It also functions as a guideline for each group company to formulate its own individual code of conduct.
"Moving forward, the Toyo Tires Group will further reinforce its compliance management under these new action principles while continuing its effort to realize its CSR policy set forth under the company’s 'Vision 2020' strategy."