Compliance & Governance Initiatives

Compliance & Governance

Board of Directors composed of a well-rounded, experienced and diverse team

Ratio of outside directors

In July 2023, Panasonic Connect introduced a system that links the rate of change in theoretical corporate value during the medium-term plan period (three years) to executive remuneration, even though it is an unlisted company. We will build a medium- to long-term strategy with greater emphasis than ever on fostering a sound corporate culture, promoting diversity, equity and inclusion (DEI), and strengthening governance. In addition, the Board of Directors is composed of diverse human resources who can discuss strategy development from a global perspective and with a high standard. Based on the experience and knowledge cultivated in each of their careers, they are engaged in discussions and decisions with the aim of further growth of Panasonic Connect. On January 1, 2022, 3 professionals with practical experience in strategy, IT, and human resources participate as outside directors, and will further accelerate reform by leveraging external knowledge.

Board of Directors composed of a well-rounded, experienced and diverse team

Integrity practices / eradication of harassment

In order to promote fair business activities, we aim to foster an "Act with Integrity" culture in which all employees think autonomously about "what is right as a good citizen" and act autonomously. Specific initiatives include continuous message dissemination from CEO Higuchi and other management, implementation of various substantial compliance training and audits, establishment of a hotline where employees can consult and report fraud and various types of harassment, etc., as well as employees themselves to think about and discuss compliance, identify issues in their own workplaces, and lead to problem resolution. Compliance Workplace Discussions are continuously held.

In addition, in order to create a work environment where all employees can work with peace of mind, we are actively implementing anti-harassment countermeasures. Through CEO video messages, All Hands Meetings, open Q&A sessions on internal programs, and the "Harassment-Free Declaration" of executives on the intranet, management continues to strongly communicate the need to eradicate harassment. We have established strict disciplinary  standards (guidelines) and have called attention to harassment as a severe issue.

As a mechanism to ensure fairness and transparency, which is a prerequisite for severe penalties, we have organized a Compliance Committee that oversees and manages everything from reporting and investigation to disciplinary action independently of business divisions. In the case of sexual harassment, the Compliance Committee always includes female officers and deliberates on them, and the advice of outside experts such as lawyers is used as necessary.

Compliance at workplace Discussion

Procurement due diligence

The Panasonic Group strives to do business with partners who fulfill their social responsibilities, such as consideration for human rights and the environment, good working environment, and fair transactions. In 2022, we positioned the promotion of CSR in the procurement department as an important initiative and launched a project to promote procurement due diligence. In cooperation with the relevant departments of human resources, procurement, and each operating company, we clarified the basic policy with reference to the RBA* Code, which is a global standard, and published the Promotion Guidelines (Version 3.0) in 2022.

We ask our partners to agree with the Supply Chain CSR Promotion Guidelines, which summarize our management philosophy, CSR procurement policy, and content to be complied with, and to conduct CSR voluntary assessments before starting transactions. In addition, we have concluded a basic transaction agreement that includes items related to CSR. In addition to quality, cost, delivery time, and service (QCDS) evaluations and management performance, we also regularly evaluate our partners for CSR-related initiatives. Currently, we are working to confirm with all partners for each operating company of the Panasonic Group, and assign a person in charge for all Group companies. Going forward, we will conduct audits of our partners while assessing risks and work to prevent potential negative impacts on human rights and the environment.

*RBA (RESPONSIBLE BUSEINESS ALLIANCE) IN THE MANUFACTURING SUPPLY CHAIN, Standards for the working environment, dignity of workers, and environmental burden are stipulated.

Initiatives for Responsible Procurement Activities