Olympus Group Procurement Policy
The Olympus Group will procure the materials and services necessary for the manufacture of our products in line with the following principles and based on our "Social IN" corporate philosophy, which provides the basis for all corporate activities.
- 1. Compliance with Laws, Regulations, and Social Norms
- Olympus complies with applicable laws, regulations, and social norms including those concerning the respect for human rights, including the prohibition of child labor and forced labor, and anti-corruption and, carries out our corporate activities in a sound and fair manner. We ask the suppliers of the materials and services used in manufacturing our products to do the same.
- 2. Green Procurement and Consideration for the Environment
- In establishing green procurement standards in line with our Environmental Policy, and in its procurement activities, we endeavors to build a society that has a sound environment and that is capable of supporting sustainable development.
- 3. Promotion of Fair and Impartial Trade
- We open our doors wide to current suppliers and future suppliers all over the world. We conduct fair and impartial trade with its suppliers according to the policies and procedures disclosed to suppliers.
- 4. Selection of Suppliers
- Olympus selects suppliers based on a comprehensive decision on key elements for the appropriate procurement, including the management of compliance with laws, regulations, and social norms, environmental considerations, quality and safety assurance and a stable supply, management stability, technical capabilities, security of information, respect for the intellectual property of other parties, compliance with the designated delivery date and appropriate pricing.
- 5. Reinforcement of Partnership with Suppliers
- Olympus endeavors to establish and maintain a relationship of trust with our suppliers based on mutual understanding.
- 6. Prohibition on Accepting Personal Interests
- Olympus prohibits its employees from accepting any improper personal gifts, benefits or entertainment from suppliers.
Basic Stance on Conflict Minerals
One of the effects of the continuing civil war in the Democratic Republic of the Congo (DRC) has been the use of minerals, including tantalum, tin, tungsten and gold, mined in the DRC and neighboring countries to raise funds for armed groups. For many years, this practice has resulted in human rights violations, including child labor, sexual violence and environmental damage. In July 2010 the United States sought to cut off this supply of funds to armed groups by introducing an amendment to its financial regulation law defining these four substances as conflict minerals. Companies listed in the United States that use conflict minerals are now required to submit reports to the U.S. Securities and Exchange Commission (SEC). Other moves by international organizations, governments, NGOs and industry organizations to solve this problem include the publication of the Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas by the Organization for Economic Cooperation and Development (OECD).
The Olympus Corporation is participating, on behalf of the Olympus Group, in a committee established by the Japan Electronics and Information Technology Industries Association (JEITA) to study the responsible procurement of minerals. We will continue to work with our suppliers to maintain transparency in our supply chains, and to ensure that we do not support human rights violations through the procurement of parts and materials.