Corporate Mission Statement
The "Sumitomo Business Spirit" underlies Sumitomo Corporation's Management Principles and Activity Guidelines.
The Sumitomo Business Spirit is the basis of our business operations and advocates such universal values as "integrity and sound management," "never pursue easy gains," and "a spirit of challenge that anticipates change."
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.
| 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.
Although other important aspects of the Sumitomo Business Spirit have never been formerly codified, Sumitomo's traditional spirits such as "Respect for human resources", "Farsighted planning" and "Conformity of self-interest and altruism, of public and private affairs", are united with the business principles and continuously inherited to each of Sumitomo group companies.
The Management Principles of the Sumitomo Corporation Group were compiled based on the Sumitomo Business Spirit, and lay down the mission, fundamental policy and the corporate culture we are aiming to achieve while developing businesses on a global basis. In other words, the Management Principles provide a reference framework within which we conduct our business.
The Activity Guidelines are formulated as a guide for day-to-day business operations by individual members.
All Sumitomo Corporation officers and employees firmly adhere to the concepts of the Management Principles and Activity Guidelines, putting these precepts into practice in their daily business activities, moving Sumitomo Corporation forward as a "Global Corporate Group Making Great Contributions to Society."
SC VALUES are a more detailed version of the Management Principles and Activity Guidelines. All officers and employee scarry a wallet-size card on which the SC VALUES are printed.
Each value is also respected in work performance evaluations and the multidimensional assessment system (a job performance assessment of supervisors by their subordinates).
