Paramount Bed Group emphasizes the dialogue with all stakeholders and aims to create a sustainable society and conduct trustworthy corporate activities.
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.
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.
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.
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.
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
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.