Corporate Governance

Ethics and Compliance

Code of Conduct

Employee Training on Ethical Standard

MISUMI Group has established the training program for compliance and business ethics, (the “Training Program”) and provided the following training sessions regularly, mostly once a year. Post-training tests are also conducted to ensure the comprehension of each training and to promote employees understanding of the contents.

  • The Code of Conduct
  • Business Ethics, including Bribery and Anti-Corruption Policy
  • HR Compliance, including prevention of harassment and working-hour management
  • Prevention of Insider Trading
  • Information Security
  • Export Control

Bribery and Anti-Corruption Policy

In the Code of Conduct, MISUMI Group prohibits the Employees from bribing government or administrative officials, and from committing illegal financial transaction with business partners. All employees are informed and fully aware of the Bribery and Anti-Corruption Policy in the training sessions of the Code of Conduct and Business Ethics in the Training Program.

Protection on Personal Information

MISUMI Group complies with the laws and regulations related the protection of personal information and handles personal information of our stakeholder appropriately.
MISUMI Group has set Misumi Group Fundamental Privacy Policy and Privacy Policies for customers, business partners, applicants and shareholders regarding the management of the personal information that Misumi Group acquires for business. These Privacy Policies has been published on MISUMI Group’s website.

Information Security

MISUMI Group has recognized importance of the information security as to roll out business globally. To protect the information assets from various threat, MISUMI Group has established Basic Policies for Information Security and improved information security. Under this Basic Policies, Information Security Guidelines, Rule for Confidentiality and Non-Disclosure, Management Rule for Personal Data and Information Control, Management Rule for Information Devices, etc. have been established. The Employees are informed and fully aware of these rules in the training session of Information Security in the Training Program.

Oversight for Ethics Compliance and Legal Issues

Corporate Officer responsible for the legal and compliance issues reports the legal, compliance and business ethics activities to the Board of Directors of MISUMI Group Inc., twice a year. The Board of Directors discusses the reports, supervises and instructs the measures to be corrected or strengthened.
Furthermore, Legal Department makes reports on important legal and compliance cases every month. The reports on Business Companies and Platforms are submitted to the Presidents of Business Companies or the Representatives of Platforms respectively. The reports on the entire Company are submitted to the Representative Directors and the full-time Corporate Auditor of MISUMI Group Inc., and they instruct countermeasures or seek additional confirmation based on these reports so that the appropriate or necessary actions can be taken.

Regular Audits of Ethical Standards

The Board of Directors of MISUMI Group Inc. adopted a resolution on the Basic Policy on systems to ensure that MISUMI Group’s business operations are conducted in compliance with laws, regulations and the articles of incorporation, and other systems to ensure that MISUMI Group’s business operations are conducted in an appropriate manner (the “Internal Control System”).

Board of Corporate Auditors reviews administration of the Internal Control System every year. In the FY2021, it is confirmed that the Internal Control System has been implemented appropriately, and that there have been no significant problems. Board of Corporate Auditors confirmed that the followings as the main actions pertaining to Internal Control Systems during FY2021.

  • The Company’s Board of Directors held 14 meetings during the fiscal year ended March 31, 2022. The Board of Directors and the Group Officers’ Committee made important decisions and appropriately performed other functions, such as the monitoring, supervision and guidance of the operations of business units, divisions, platforms and subsidiaries.
  • Comprehensive risk assessments have been carried out at key MISUMI Group sites and reported to Board of Directors. Based on the results of these assessments, which covered such aspects as the executions of business operations, information, financial management, human resource management, and legal affairs, the Company nominates the principal department in-charge which addresses identified risks going forward. As part of such efforts, the Company has a Business Continuity Plan (BCP) in place, to deal with crisis/ emergency situations, providing appropriate response measures in dealing with the COVID-19 pandemic.
  • Compliance and legal affairs training are carried out at all major sites of the MISUMI Group. During this training employees are made fully aware of the MISUMI Group’s Code of Conduct and legal compliance.
  • An internal reporting (“whistleblowing”) system has been established and administered appropriately across the entire MISUMI Group.
  • Corporate Auditors / Board of Corporate Auditors’ auditing environment is being enhanced through expansion of interview opportunities with Directors, including Outside Directors, and coordination with administration departments and in addition, fulfillment of a full-time corporate auditor for the Subsidiary. Corporate Auditor’s support arrangement is operationally stable.
  • Cooperation between Internal Audit Department and Board of Directors or Board of Corporate Auditors has been ensured by establishing a system in which the Internal Audit Department reports directly to the Board of Directors and the Board of Corporate Auditors. The Board of Directors shall establish a company-wide internal control and risk management system and supervise its operation status while utilizing the Internal Audit Department.

Internal Audit Department sets approximately 10 sites or organizations for the audit target every year and conduct audit to find out whether such sites or organizations are executed or operated appropriately complying with laws, regulations, and internal rules. Audit items are including alignment of internal rules, risk assessment and recognition by local management, personnel labor management such as employment turnover and work-hour management, status of internal control, and information security etc. Results of the audits are reported to the Board of Directors.

Additionally, since 2019, Legal Department has conducted action called “Legal Risk Review Rounds” to locate legal risks and potential violation of law in the early stage and resolve the issues with the targeting organization. Legal Department has clarified the laws and regulations applicable to MISUMI Group and created checklist based of them. Having hold hearing sessions with the target organizations, Legal Departments evaluate the current situation and potential risk in every hearing session and propose countermeasure to the targeting organizations. Collaboration between Legal Department and targeting organizations on resolving issues and improving the situation also results in lowering the legal risks.


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