Contents start

December 6, 2005
Olympus Group Adopts
CSR Procurement Policy
Will Trade with Companies that Give Priority to Compliance and Consideration for Human Rights, Labor Standards and the Environment
Olympus Corporation (President: Tsuyoshi Kikukawa) has adopted the Olympus Group Procurement Policy as a common procurement policy for the entire Olympus Group. The policy stipulates that Olympus will trade with companies that give priority to compliance with laws and regulations and consideration for human rights, labor standards and the environment, in addition to the existing criteria of quality, price and delivery times. Olympus will call upon its suppliers in Japan and overseas to support the new policy from December 1 onwards.
This policy defines the Olympus Group's basic stance concerning the procurement of the materials, services and other items needed for the manufacture of its products. It states that the Olympus Group will build fair relationships with its suppliers, and that compliance with laws and regulations and consideration for human rights, labor standards and the environment will be priority criteria when selecting suppliers. The Olympus Group will aims to encompass procurement within the scope of its corporate social responsibilities (CSR) by calling upon its suppliers to cooperate in the fulfillment of those responsibilities.
The corporate philosophy that guides all aspects of the Olympus Group's business activities is expressed in the "Social IN" concept, which stands for "INvolvement," meaning participation as members of society, "INsight," meaning the sharing of new ideas, and "INspiration," meaning the creation of new values. To guide its CSR activities, Olympus has also adopted its Corporate Conduct Charter and Code of Conduct based on this corporate philosophy. In October 2004 it participated in the United Nations Global Compact. As a global enterprise determined to contribute to sustainable development of our society, it declared its intention to implement the 10 principles of the Global Compact in the area of human rights, labor, the environment, and anti-corruption by incorporating those principles into its business activities. This latest initiative forms part of the Olympus Group's efforts to put the 10 Global Compact principles into practice.
The Olympus Group aims to manufacture environment-friendly products. Under its Green Procurement Guidelines, which were introduced in October 2000, it strives to procure products, parts and materials that cause minimal environmental loads. Under the new procurement policy, the Olympus Group will require its suppliers to show respect for human rights and labor standards as well as the environment.
Main Provisions of Procurement Policy
1. Compliance with laws, regulations and social standards
2. Consideration for the environment
3. Promotion of fair and just trading
4. Supplier selection policies
5. Reinforcement of partnerships with suppliers
6. Prohibition on seeking of personal advantage
Related link
  • Press releases are company announcements that are directed at the news media.
  • Information posted on this site is current and accurate only at the time of their original publication date, and may now be outdated or inaccurate.
  • Company names and product names specified are trademarks of their respective owners.