CSR Management

Corporate principles and CSR

Paramount Bed Group has established and maintains corporate principles and a code of corporate conduct, meets its corporate social responsibilities by contributing to society through its business activities, and works to raise the Group’s enterprise value.

Basic concepts of corporate principles and CSR

• Group principles "We strive to create a comfortable healthcare environment with advanced technology and consideration towards users."
• Statement "As human, for human"

Paramount Bed started out in 1947 as a specialized manufacturer of hospital beds and against the subsequent backdrop of demographic aging later branched out into senior care facilities and visiting nursing care, while developing a diversity of products and services.

Code of corporate conduct

In January 2007, the Group established a code of corporate conduct that presents norms and grounds for the conduct of every employee of the Group, so as to support the attainment of the Group’s corporate principles. This code contains the basic rules for determining the conduct to be followed by all employees and corporate officers of Paramount Bed Group as members of a medical and welfare related business corporation and members of society at large. The Group has been working to promulgate and firmly establish this code among the employees of all group companies.

Code of corporate conduct

Paramount Bed Group contributes to the enhancement of medical care, clinical nursing, and nursing care environments by providing products and services that satisfy customers through their safety and high quality.
Paramount Bed Group understands and observes the laws and regulations relevant to its business activities and the rules of a fair society.
Paramount Bed Group appropriately manages corporate information and provides timely and appropriate information disclosures in order to build public appreciation and confidence in the Paramount Bed Group.
Paramount Bed Group is committed to the preservation of the global environment and conducts environmentally sound business activities.
Paramount Bed Group respects human rights and rejects discrimination of any kind, whether on grounds of race, nationality, gender, age, body, or any other grounds.
Paramount Bed Group respects countries’ and regions’ cultures and customs and contributes to the development and furtherance of society.
The top management of Paramount Bed Group conducts itself in an exemplary manner in conformity with this code of conduct. In the event of a breach of this code, the top management of Paramount Bed Group at its responsibility takes measures to resolve the breach, identify the cause, and prevent recurrence.

Promulgation and establishment of corporate principles

Based on the corporate principles and the code of corporate conduct, the Paramount Bed Style Book containing a compilation of principles concerning the mindset and actions befitting employees of Paramount Bed Group is distributed among Group employees and is impressed particularly upon new hires in employee training sessions. Additionally, the Group is taking steps to promulgate and establish the corporate principles and the code of corporate conduct through company internal intranet content and postings at the individual workplaces.

Human Rights Policy

Based on our Group principles, "We Create Comfortable Healthcare Environments through Cutting-edge Technology with a Human Touch," the Paramount Bed Group aims to appropriately respond to changes in the environment and to put into practice social contribution through our business and other activities. Respect for human rights is advocated for in the Paramount Bed Group Code of corporate conduct, which sets out the code of conduct for each Group employee in realizing our management philosophy, and in this policy we are further clarifying the Group's approach to respecting human rights.

February 7, 2024

1. Basic approach to human rights

We understand that the Group's business may directly or indirectly have an impact on human rights. We respect human rights as stipulated in the International Bill of Human Rights and in the International Labour Organization's (ILO) Declaration on Fundamental Principles and Rights at Work, and we work to both support and put into practice the United Nation's Guiding Principles on Business and Human Rights.

The International Bill of Human Rights is the collective name for three documents: the Universal Declaration of Human Rights (UDHR), the International Covenant on Civil and Political Rights (ICCPR), and the International Covenant on Economic Social and Cultural Rights (ICESCR). The International Bill of Human Rights is considered to be the internationally recognized basic framework for guaranteeing human rights.
The Declaration on Fundamental Principles and Rights at Work enshrines "freedom of association and the effective recognition of the right to collective bargaining," "the elimination of all forms of forced or compulsory labour," "the effective abolition of child labour," and "the elimination of discrimination in respect of employment and occupation."

2. Scope of the Human Rights Policy

The Human Rights Policy applies to all board members, officers, and employees of the Group. We will also ask our business partners for their understanding and support of the Human Rights Policy, and we will expect them to work together with us to respect human rights.

3. Initiatives to respect human rights

We respect the diversity, values, and work styles of each employee and of each individual we work with; do not tolerate any acts of discrimination based on race, ethnicity, religion, age, nationality, origin, gender, sexual orientation, gender identity, pregnancy status, marital status, academic background, political views, or health condition, etc.; and prohibit child labor, forced labor, and any and all types of bullying and harassment. In addition to promoting diversity and inclusion, we also strive to provide a safe and comfortable working environment that eliminates employee anxieties and worries and that allows each and every employee to play an active role.

4. Dissemination of and education about the Human Rights Policy

In order to increase awareness of respect for human rights amongst all Group employees and to reduce the risk of human rights violations, we will also continue to engage in education and awareness activities to ensure that the Human Rights Policy is instilled in and observed by all Group employees.

5. Human rights governance system

In cooperation with related departments, the Corporate Ethics Department implements and manages measures on respecting human rights. The results of these efforts are reported to the Board as appropriate.

6. Conducting human rights due diligence

Through dialogue with various stakeholders, we strive to understand, prevent, and reduce the negative impact of the Group's business activities on human rights.

7. Remedies

If it becomes apparent that a negative impact on human rights has occurred or has been facilitated by the Group or through one of the Group's business partners, then we will strive to take appropriate and effective remedial measures.

8. Dialogue and consultation with stakeholders

We recognize the importance of confirming and understanding the opinions of those affected by the Group's business activities, and we respect human rights by engaging in sincere dialogue and consultation with stakeholders.

9. Information disclosure

We will appropriately disclose our efforts on respecting human rights through the media or our website.

Compliance

Corporate ethics

Paramount Bed Holdings maintains in its personnel division a corporate ethics office and in cooperation with the legal department and other internal departments and divisions takes various measures to ensure group-wide compliance.
For example, Paramount Group has prepared Corporate Ethics Guidelines that also include a Compliance Manual. The Guidelines, which find practical application in employee training, provide information on the Company’s basic stance on corporate ethics, the stance on respect for the positions of the various types of stakeholders of business corporations (i.e., customers, trading partners, employees, shareholders and investors, administrative and government agencies, and local communities, etc.), and a section with rules and Q&A content organized according to specific compliance issues.
Additionally, for employee education and to create awareness for corporate ethics among employees, relevant e-mail postings are disseminated as “Message from the Corporate Ethics Office.”
In order to check on the actual status of compliance, Paramount conducts “Employee Awareness Surveys” that serve to identify compliance awareness issues. At the same time, the survey results are published through the internal intranet and used to implement improvements. As an accompanying measure, company internal and external contacts exist for consultations and reporting, enabling multi-faceted monitoring.

Fair-trade measures

In 1998 Paramount Bed was served a cease-and-desist order by the Fair Trade Commission in connection with an alleged breach of the Antimonopoly Act (private monopolization). This development prompted in February 1999 the issuance of a declaration in the name of the president of Paramount pledging compliance with the Antimonopoly Act. The declaration commits to compliance with the Antimonopoly Act and related laws and regulations as the fundamental rule for corporate activity in a society with a free market economy, and clearly states that Paramount will as matter of policy offer products and services in the market that are predicated on original Paramount ideas and efforts as well as fair and unhindered competition, and that Paramount in so doing will contribute to the benefit of society.

Declaration of compliance with the Antimonopoly Ac

1. 1:We will in all aspects of corporate activity observe in good faith the provisions of the Antimonopoly Act and contribute through fair and unhindered competition to the benefit of Paramount product users.
2. 2:We will engage in activities driven by our original creativity, respect the freedom of action of competitors, and engage in sound and active market competition.
3. 3:We will establish, promulgate, and enforce a code of conduct to ensure transparent trading in the spirit of the Antimonopoly Act.
4. 4:We will create and maintain effective internal frameworks to establish observance of the Antimonopoly Act and to prevent from the outset any breach of the Antimonopoly Act.
5. 5:In the event of a breach of the Antimonopoly Act, top management will at its responsibility investigate the cause and impose harsh punishment on the perpetrator.

To ensure the effectiveness of this declaration of compliance with the Antimonopoly Act, the sales and marketing division of Paramount Bed has established a supervisory unit for bidding transactions and at each branch has appointed staff members responsible for the submission of bids, and through measures such as prescribing bid check sheets and price setting statements for bids to governmental and public principals engages in transparent sales and marketing activities. Moreover, Paramount Bed provides employee training and education activities including materials such as the Corporate Ethics Guidebook and Bidding Transactions Q&A, accompanied by periodic study meetings about the provisions of the Antimonopoly Act. Moreover, frameworks are being maintained that enable for each bid not only the involvement of the supervisory unit but also of the legal division and legal counsel. In this and other ways, Paramount Bed is working to establish and maintain internal frameworks to ensure the observance of the Antimonopoly Act and prevent any breach from the outset.