Sumitomo Chemical Obtains Registration under Japan's "Whistleblowing Compliance Management System" Certification Regime
Dec. 14, 2020
Sumitomo Chemical Co., Ltd. ("Sumitomo Chemical") has become a registered company under Japan's Whistleblowing Compliance Management System certification ("WCMS Certification") regime, through the regime's "self-declaration of conformity" process, effective as of December 11, 2020.
Japan's Consumer Affairs Agency established the WCMS Certification regime in February 2019 to recognize companies that develop and operate proper whistleblowing systems. Whistleblowing systems play an important role in effective internal controls and good corporate governance. Under the "self-declaration of conformity" process, a company may evaluate its own whistleblowing system, and apply for certification and registration with a designated WCMS Certification registration organization. If the organization verifies that the company's whistleblowing system conforms to certain standards set by the Consumer Affairs Agency, the organization will register the company with WCMS Certification, and the company will be permitted to use the prescribed WCMS Certification mark.
The WCMS Certification mark (WCMS Mark)
In 2003, Sumitomo Chemical introduced a "Speak-Up System"—a whistleblowing system designed to prevent, detect and correct compliance violations at an early stage—in order to enhance societal trust and improve corporate value. Since its introduction, Sumitomo Chemical has worked diligently to improve the system's effectiveness and reliability. Sumitomo Chemical strictly protects the confidentiality of its Speak-up System users, and prohibits their prejudicial treatment. Moreover, Sumitomo Chemical actively seeks opportunities to increase employee awareness of the system, to thereby promote its use.
With this WCMS Certification and registration, Sumitomo Chemical will continue to strengthen its compliance systems—including its Speak-Up System—to contribute to the sustainable development of the Sumitomo Chemical Group.
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