Announcement of Establishment of "Fair Trade Monitoring Committee" (NTN)
Resource from: NTN Corporation Likes:2964
Apr 06,2012
NTN Corporation (hereafter, NTN) hereby announces that it has established a new “Fair Trade Monitoring Committee” on April 1, 2012 as part of measures to enhance its business organization, and ensure fair business transactions that comply with the Japan Antimonopoly Act and Act against Delay in Payment of Subcontract Proceeds, Etc. to Subcontractors (both collectively called the Competition Law) in Japan and overseas.
Until now, NTN had addressed all compliance-related matters with its Risk Management Committee and Compliance Subcommittee, however a special organization was deemed necessary to ensure greater compliance with Competition Law in the following areas.
The “Fair Trade Monitoring Committee”is a permanent committee chaired by the President, with the director in charge of the Legal Department as the Vice-Chairman, directors in charge of the sales and procurement departments in Japan and overseas, and outside attorneys acting as committee members. The commission ensures that business transactions undertaken by the sales and procurement departments are fair and comply with Competition Law, and also monitors and provides advice regarding the state of relevant training and educational activities.
A new “Fair Trading Promoting Department” has also been established as the management office for promoting activities that comply with the Competition Law, and organizing relevant systems for ensuring fair business transactions, and promoting relevant training and educational activities.
“Fair Trading Promotion Officers” have been assigned to the sales and procurement departments to provide training to employees, and monitor the state of compliance.
NTN aims to utilize these new organizations to ensure fair business transactions that comply with Competition Law.
[Inquiries about this release]
NTN Corporation
CSR & Corporate Communications Department
TEL: +81-6-6449-3579
FAX: +81-6-6443-6966
(NTN Corporation)
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