Corporate Philosophy
Basic Policy of Management
A group of companies worthy of society's trust by conducting the business activities in an honest manner
The Sumitomo Electric Group, in accordance with the Sumitomo Spirit and the Sumitomo Electric Group Corporate Principles, shall strive to be a group of companies worthy of society's trust by conducting the business activities in an honest manner.
The Sumitomo Spirit
The Sumitomo Spirit grew out of the guiding principles set down by Sumitomo founder Masatomo Sumitomo in his “Monjuin Shiigaki”.
The Sumitomo Spirit originates from the guiding principles of Monjuin Shiigaki - the Aphorisms of Monjuin, which describe how a merchant should conduct his business - set down by the founding father of the House of Sumitomo, Masatomo Sumitomo (1585 - 1652). The Sumitomo Spirit has been enriched and elaborated throughout the history of Sumitomo, mainly operating in the copper business. The core principals of the spirit can be found in the “Business Principles” codified in 1891. The Sumitomo Spirit also integrates the principles and beliefs of previous generations of Sumitomo leadership, passed down the generations in the form of important remarks and thoughts behind critical business decisions.
Business Principles
Article 1
Sumitomo shall achieve prosperity based on solid foundation by placing prime importance on integrity and sound management in the conduct of its business.
Article 2
Sumitomo’s business interest must always be in harmony with public interest; Sumitomo shall adapt to good times and bad times but will not pursue immoral business.
信用確実 Shinyo-kakujitsu
“Place importance on integrity and sound management.”
“Place importance on integrity and sound management.” The Business Principles Article 1 emphasizes the importance of integrity; that is, being worthy of the trust of others.
萬事入精 Banji-nissei
“Do your sincere best in not only business but also every aspect of your life.”
“Do your sincere best in not only business but also every aspect of your life.” Consisting of five articles, Monjuin Shiigaki contains ideas reflecting the unstable social conditions of Kyoto in the 17th century, when it was written. The preamble admonishes us to pay attention to any matters including business and work wholeheartedly on everything.
不趨浮利 Fusu-furi
“Do not act rashly or carelessly in pursuit of immoral business.”
“Do not act rashly or carelessly in pursuit of immoral business.” In its first part, Article 2 speaks of the importance of working proactively, pursuing profit by quickly and appropriately responding to changes in society and not being content with the status quo. At the same time, Article 2 emphasizes the importance of harmonizing business gains with the public interest and scorns reckless or careless actions in pursuit of easy gain. While furi means easy, temporary or short-term gain, the term also implies unfair profit obtained through dishonest means.
萬事入精 Banji-nissei
“Do your sincere best in not only business but also every aspect of your life.”
“Do your sincere best in not only business but also every aspect of your life.” Consisting of five articles, Monjuin Shiigaki contains ideas reflecting the unstable social conditions of Kyoto in the 17th century, when it was written. The preamble admonishes us to pay attention to any matters including business and work wholeheartedly on everything.
信用確実 Shinyo-kakujitsu
“Place importance on integrity and sound management.”
“Place importance on integrity and sound management.” The Business Principles Article 1 emphasizes the importance of integrity; that is, being worthy of the trust of others.
不趨浮利 Fusu-furi
“Do not act rashly or carelessly in pursuit of immoral business.”
“Do not act rashly or carelessly in pursuit of immoral business.” In its first part, Article 2 speaks of the importance of working proactively, pursuing profit by quickly and appropriately responding to changes in society and not being content with the status quo. At the same time, Article 2 emphasizes the importance of harmonizing business gains with the public interest and scorns reckless or careless actions in pursuit of easy gain. While furi means easy, temporary or short-term gain, the term also implies unfair profit obtained through dishonest means.
The Sumitomo Spirit also includes the following principles:
Attaching importance to technology
Sumitomo’s original copper business centered on the nanbanbuki (foreign-style) refining technique, which at the time comprised the leading edge of smelting technology. The business policy of valuing technology and tackling the development of new technology has been a driving force in the evolution of Sumitomo business from the very beginning.
Respect for human resources
Sumitomo’s history features many events that demonstrate the great value the group attaches to the opinions of those working in tits various fields of business. Over the years, Sumitomo has established a corporate culture in which frank discussions are cherished and people are treated with the utmost importance. Sumitomo has always considered that people are the foundation of the enterprise and attached importance to human capital. This tradition has coexisted with the commitment among Sumitomo personnel to character cultivation.
Long-range planning
This principle is derived from Sumitomo's original experience in copper mine management, which requires long-term and constant views. Business development with a future-looking, long-term view, complemented by a wider perspective to ensure national and social interests, is one of the factors that have made Sumitomo distinctive.
Mutual prosperity, respect for the public good
This phrase represents the principle that Sumitomo’s business must benefit not only Sumitomo but also the nation and society in general. Everyone in Sumitomo is required to focus not only on making money but on always conducting business in harmony with public interests. This spirit is also demonstrated by Sumitomo’s more than century-long efforts to solve environmental problems in the Besshi Copper Mine - a spirit that has always remained unchanged at Sumitomo.
Learn about Sumitomo's history and spirit
The Sumitomo Electric Group Corporate Principles
(Established in June 1997)
・Offer the very best goods and services to satisfy customer needs.
・Build technical expertise, realize changes and strive for consistent growth.
・Contribute to creating a better society and environment, with a firm awareness of our social responsibility.
・Maintain high corporate ethics and strive to become a company worthy of society's trust.
・Nurture a lively corporate culture that enables employee self-improvement.
The Sumitomo Electric Group Charter of
Corporate
Behavior
The Sumitomo Electric Group Charter of Corporate Behavior guides us, from the group directors to employees, in our actions. It identifies the objectives we should pursue with strong determination and commitment, and rules we should observe in all circumstances, so that we can act out the Sumitomo Spirit and the Sumitomo Electric Group Corporate Principles.
The Sumitomo Electric Group recognizes that our operations are supported by a range of stakeholders, including customers, employees, suppliers, regional communities, and shareholders/investors, and that it is mandatory to strive to build appropriate cooperative relationships with our stakeholders while taking their interests into consideration in order to achieve sustainable growth and enhance the corporate value of the Sumitomo Electric Group over the medium to long term, as well as to steadily return the results to all of our stakeholders as a going concern.
Based on such recognition, as described below, the Sumitomo Electric Group promotes appropriate collaboration with stakeholders to achieve co-creation of values and shared prosperity with the stakeholders.
1. Provision of Useful and Safe Products and Services
We will aim to provide useful and safe products and services that will satisfy customers in all aspects including quality and cost.
2. Development of New and Original Businesses and Products
We will aim to develop new, original, and profitable businesses and products by using our unsurpassed creativity to meet customers' demands.
3. Growth and Development of the Sumitomo Electric Group through Global Business Activities
We will strive for consistent growth of the Sumitomo Electric Group by consistently conducting our businesses with a global perspective and taking full advantage of the Group's dynamic business operations.
4. Contribution to Preservation of the Global Environment
We will contribute to the construction of a sustainable society, taking voluntary and active initiatives to preserve the global environment.
5. Observance of Laws and Regulations
We will observe national and international laws and regulations and always act fairly and openly.
6. Fair and Proper Business Activities
We will promote fair, transparent, and free competition and sound trade.
7. Conduct as a Member of Society
We will contribute to creating a better society, with a firm awareness of our social responsibility as a "good corporate citizen."
We will maintain a strong stand against any force that threatens public order and safety.
8. Harmony with the International Community
As a corporate member of the international community, we will respect the culture and customs of every region of the world and contribute to the development of those regions.
9. Safe, Sound Workplace and Employees' Growth and Development
We respect the rights of all individuals and will endeavor to make our workplaces safe, sound and energetic.
We will strive to respect the personality and individuality of our employees and support their professional development and career to enable self-realization.
10. Disclosure of Relevant Information and Promotion of Communication with Society
We will aim to provide appropriate corporate information to contribute to adequate collaboration with stakeholders.
We will also promote good communication with society through public information and hearings.