The Mitsui Fudosan Group positions compliance as a management issue of the highest priority, and makes concerted efforts to maintain and improve its compliance structure.
The Mitsui Fudosan Group has established the Mitsui Fudosan Group Compliance Policies. Under these Policies, the Group has declared its intention to implement fair and highly transparent corporate activities in accordance with corporate ethics, in addition to observing laws and regulations.
Mitsui Fudosan Group Compliance Policies (Excerpt)
We have engaged in fair business activities based on the highest corporate ethics and worked diligently to garner trust and build a robust brand.
However, these tireless efforts to build a robust brand strength can be lost in an instant by the erroneous actions of a single individual. As a result, proper decision-making and behavior will continue to increase in importance.
To accomplish this, we regard the practice of compliance as one of our highest priorities for Group management and implement fair and highly transparent corporate activities in accordance with corporate ethics, in addition to observing laws and regulations as well as social norms.
Discussions and Reports at Board of Directors' Meetings and Other Meetings
At Mitsui Fudosan Group companies, material compliance matters are either regularly discussed or reported at Board of Directors' meetings and Executive Management Committee meetings or as necessary.
The Company has also established a Risk Management Special Committee which convenes in principal once a month to manage administrative risks, including compliance risk. It discusses company regulations, plans, systems, etc. related to compliance, gives reports on their practice and determines policies that are necessary.
Improvement of Company Regulations
Mitsui Fudosan Group companies establish company regulations related to compliance and base their practices on these.
Compliance Activities in Practice
Each fiscal year, each company of the Mitsui Fudosan Group formulates and implements plans for compliance-related activities.
Specifically, we plan various training seminars and educational activities to entrench knowledge on compliance, engage in monitoring in order to ensure compliance, and create plans for activities to report the contents of the aforementioned activities, aiming through this to practice compliance appropriately. The results of activities of each fiscal year are reported at the Board of Directors' meeting. Furthermore, we review how we may make improvements or discuss new activities based on these results and then reflect them in the plans for the following fiscal year or later.
Compliance in Relation to the Financial Instruments Business
Mitsui Fudosan Co., Ltd., Mitsui Fudosan Realty Co., Ltd. Mitsui Fudosan Investment Advisors, Inc., Nippon Building Fund Management Ltd., Mitsui Fudosan Frontier REIT Management Inc., and Mitsui Fudosan Accommodations Fund Management Co., Ltd. carry out financial instruments business activities. Each company complies with the Financial Instruments and Exchange Law and other related laws and regulations, as well as instructions, etc. given by the authorities. In addition, we are establishing a compliance framework for management, operation, etc. which includes, for example, relevant company regulations and statutory compliance as well as internal control frameworks, appropriate for a business operator of financial instruments.
Information Sharing within the Group
Mitsui Fudosan Group companies share compliance information and work to resolve any issues. By doing so, we are pouring forth effort into raising our compliance level as a Group.