Basic policy of management
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 Aphorisms of Monjuin).This corporate spirit has been developed, deepened, and handed down over generations in the Sumitomo family enterprise, and its essence was distilled in the rules governing the Sumitomo family established in 1882, and formulated into two business principles in 1891. Although there were some corrections to the wording, the business principles have been inherited with no change in the contents up to now.
Sumitomo shall achieve prosperity based on solid foundation by placing prime importance on integrity and sound management in the conduct of its business.
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.
Banji-nissei means “do your sincere best, not only in business, but also in every aspect of your life. “Originating from preamble of Monjuin Shiigaki, it speaks of the importance of sincerity in all human endeavors. Banji-nissei is pivotal teaching in the Sumitomo Spirit. Accordingly, Sumitomo personnel are expected to work not only to make money, but also to cultivate their character and grow into better human beings.
The Business Principles Article 1 emphasizes the importance of integrity that is being worthy of the trust of others
In its first part, Article 2 speaks of the importance of working proactively, pursuing by quickly and appropriately responding to changes in society and not being content with status quo. While furi means easy, temporary or short-term gain, the term also implies unfair profit obtained through dishonest means. In addition, the Sumitomo Spirit also includes the following principles.
Attaching Importance to Technology
Sumitomo’s original copper business centered on the nanban-buki (foreign-style) refining technique that at the time was the leading edge of smelting technology. Emphasis on using the newest technology and actively developing new technologies has been a driving force in the development of Sumitomo business from its very beginnings.
Respect for Human Resources
Discovering and nurturing superior human resources has always been the most important objective for managers, and the Sumitomo tradition that “people make the enterprise” remains in full force to this day.
The spirit of Sumitomo’s business planning developed from the original copper refining operation’s view toward long-term and continuous business. A realistic, long-term view of the future complemented by a wider perspective of country and society has guided Sumitomo managers for generations.
Mutual Prosperity, Respect for the Public Good
Sumitomo’s Director General Teigo Iba once said, “Sumitomo’s business must benefit not only Sumitomo itself but also the nation and society in general.” Sumitomo has always conducted business in harmony with the public interest based on the fundamental spirit of “gratitude toward society.”