The Sunstar Group undertook a management and employee buyout of all shares in 2007, delisting the company and marking the transition to a system whereby all managers and employees assume collective responsibility for the company’s governance. Our global operations are also led by this spirit.
In addition, we have continued to develop the strengths that we have retained since the days of our foundation, enabling us to remain a healthy organization. We have expanded our global business to achieve a balanced and diversified portfolio, encompassing the Consumer Business Group and the Industrial Business Group, with operations spanning Europe, the Americas, Asia, and Japan. This is coupled with solid management principles, such as maintaining a high equity ratio and leveraging the internal and external audit functions to monitor operations.
Across all regions, our managers and employees openly share information about business results and the status of operations through our internal portal site every month. Once a year, we hold a general meeting with managers, employees and shareholder representatives, an opportunity to share and discuss detailed information about the business situation. This content is also published on our internal portal site together with annual reports, enabling all managers and employees in our global Group to unite as they work towards achieving our Long-Term Vision.
The Sunstar Code of Conduct, the foundation of our compliance activities, is distributed to executives and employees across the global Sunstar Group. They are required to follow the code.
SUNSTAR CODE OF The Sunstar Code of Conduct is a series of standards outlining the basic requirements that all our executives and employees must adhere to in the course of their work. Our Code of Conduct is much more than just a set of company rules and procedures for work. It provides a broad overview of how employees should approach their work and human relations. In addition, it is also our main point of reference for standards on how we should conduct ourselves in our work – a pledge made by the company, executives and employees everywhere to act according to the highest ethical standards. This booklet, which we have issued in nine different languages, contains a variety of sections covering everything from our corporate philosophy and expectations for directors to our responsibilities towards employees, clients and consumers, financial and work obligations, the environment, health and safety and others. Our Code of Conduct has helped us build a corporate culture in which each and every executive and employee takes compliance very seriously.
Compliance promotion (Japan)
- We appoint compliance officers for each department. They liaise with the Compliance Office to thoroughly investigate and rectify compliance issues in the relevant departments, as well as to hold study sessions on applicable laws according to the department in question.
- All employees are provided with a compliance manual which contains information on the laws that they need to comply with, along with details of past issues. They are also enrolled in compliance training—first when joining the company, at certain key points in their career, and upon promotion to management positions.
- Internal and external employee consultation services have been put in place as part of a whistleblower system which enables employees to talk and provide information to someone without having to go through their supervisors if they suspect there has been a violation of laws or internal/external rules or are unsure how to make a fair judgment in the course of their daily work or internal activities. This confidential system ensures that whistleblowers do not suffer from unfair treatment at work because of disclosing information. Similar systems are implemented in other regions.
The Sunstar Group established the Global Risk Governance Department at its group headquarters with the aim of managing risks and opportunities systematically. As an organization that is under the direct control of the group’s Board of Directors, it issues regular reports and works to construct systems capable of reflecting these in the group’s business strategies.
Our risk management system consists of the following: 1) Risk policies; 2) Risk management action plans; and 3) Risk management toolkits. Using these toolkits, we hold workshops and individual interviews within various business departments and regions, extract and classify the overall risks and opportunities in the group based on information sources such as internal audit reports, and display these using heat maps and other tools so we can always understand their urgency, importance and the state of progress. These are reported to top management and discussed in order to find risk mitigation measures.
The Sunstar Group believes that the payment of taxes is one of the social responsibilities that companies should fulfill. As such, each of the companies in our group complies with the taxation laws of the respective countries.