Basic procurement policy

Idemitsu Group have established the following basic procurement policy based on our management philosophy, management vision, action guidelines, and through our procurement activities based on our noble ethics, we will co-create a “sustainable development society” throughout our supply chain with our business partners.
This policy applies to Idemitsu Kosan Co., Ltd., its Major affiliated companies, General affiliated companies and Second-generation subsidiaries.

1. Mutual trust and contribution to the local community

1.

We will work with our business partners to create new value and engage in procurement activities based on mutual trust.
2.

In our procurement activities, we will endeavor to contribute to the sustainable development of the local community.

2. Equal opportunity and fair and equitable procurement transactions

1.

We will open the door to a wide range of domestic and overseas business partners and provide free and fair competition opportunities.
2.

When deciding on procurement transactions, we will make a fair decision based on a comprehensive judgment which consist of not only the quality, price, delivery time, and consistency with existing equipment, but also the technical capabilities, supply capabilities, service capabilities of business partners, and management stability and sustainability efforts.

3. Social responsibility

1.

In order to realize a “sustainable development society”, we will fully consider safety, human rights, health, and environmental protection, and fulfill our social responsibility as a company with our business partners.
2.

We will establish “Sustainable Procurement Guidelines”, and exchange information with our business partners on the status of efforts related to sustainability, in order to improve each other's levels.

4. Compliance with law and procurement ethics

1.

We will comply with related laws, contracts, and internal regulations, have high ethical standards, and humbly and honestly engage in procurement activities.
2.

We will not accept bribery, entertainment and gifts that deviate from the scope of common sense and international wisdom.
3.

We will block all relationships with anti-social forces and groups that threaten social order and safety.
4.

We do not engage in mutual benefit transactions on the condition that our products and services are sold. Also, we will not engage in procurement activities that infringe on the intellectual property rights of our business partners or third parties.

Apr 2023
Idemitsu Kosan Co.,Ltd.