Sumitomo Electric Group Corporate Principles
Basic Policy of Management
The Sumitomo Electric Group, in accordance with the Sumitomo Business 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.
Sumitomo Business Spirit
The "Sumitomo Business 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 Sumitomo's Family Constitution established in 1882, and formulated into two business principles in 1891. Although there were some corrections to the wording, the "Sumitomo Business Principles" have been inherited with no change in the contents up to now.
Sumitomo Business Principles
- Article 1
- Sumitomo shall achieve strength and prosperity by placing prime importance on integrity and sound management in the conduct of its business.
- Article 2
- Sumitomo shall manage its activities with foresight and flexibility in order to cope effectively with the changing times. Under no circumstances, however, shall it pursue easy gains or act imprudently.
Article 1 shows that the basis of the Sumitomo Business Spirit is the attachment of importance to trust, above all things. Article 2 shows that Sumitomo as a company should be in pursuit of profits by quickly and exactly taking changes in society into consideration. It emphasizes the importance of positive progressive spirit to decide on the adoption and abolition of business projects continuously without being satisfied with existing business conditions. The latter part, however, admonishes against acting rashly and carelessly in pursuit of immediate temporary benefit, and mentions the importance of trust and soundness.
However, other important aspects of the Sumitomo Business Spirit have never been formerly codified. Such aspects include Sumitomo's traditional emphasis on "respect for human resources" and "high regard for technology", as well as on "vision and long-range planning" based on its long-year experience of copper mine management that requires long-term, continuous consideration. Sumitomo also respects the philosophy of "civicmindedness" and reconciles the pursuit of profit with respect for public interest, attaching importance to business that not only benefits Sumitomo itself but the country and mankind in general as well. The unique spirit of Sumitomo is united with the business principles and continuously inherited to each of Sumitomo group companies.