In May 2022, Seiko Group Corporation formulated its Human Rights Policy, and as a result of its subsequent Human Rights Risk Assessment, identified particularly significant human rights risks that require special attention. It also established policies to prevent and to rectify these important human rights problems. Going forward, we will not only work to address these risks, but also actively advance human rights due diligence by monitoring improvements, disclosing information to external parties, and establishing a grievance redress mechanism.
Seiko Group Human Rights Policy
The Seiko Group will fulfill its responsibility to respect fundamental human rights in order to create “a future full of smiles,” as stated in our Group Purpose, and to realize our Corporate Philosophy of being “a company that is trusted by society.”
This policy is intended to demonstrate the Group's commitment to human rights based on our Group Purpose and Corporate Philosophy.
2．Responsibility to respect human rights
The Seiko Group is committed to respecting human rights. We will make every effort to ensure that our business activities do not infringe on the rights of others, and if we discover any negative impact from our business, we will immediately take steps to correct that situation. If we find that our suppliers or business partners have caused any infringement of human rights, we will will use the full influence of our Group in order to rectify the situation.
3．Scope of application
This policy shall apply to all officers and employees of the Seiko Group (all directors, regular employees, and contract employees). Furthermore, the Group will promote respect for human rights throughout its business ecosystem by encouraging all business partners and suppliers to adopt similar policies.
4．Respect for and compliance with norms and laws
The Seiko Group supports international norms on human rights, including the International Bill of Human Rights (Universal Declaration of Human Rights and International Covenants on Human Rights), the ILO Declaration on Fundamental Principles and Rights at Work, and the Ten Principles of the UN Global Compact. We have established our in-house policy based on the United Nations Guiding Principles on Business and Human Rights. The Seiko Group will comply with the relevant laws and regulations in each country and region where we conduct business activities. Wherever there is a conflict between internationally recognized human rights and the laws and regulations of a particular country or region, we will pursue ways to ensure that international human rights principles are respected.
5． Human Rights Due Diligence
The Seiko Group will establish and continuously implement a human rights due diligence system. This includes identifying, preventing, and mitigating any negative impacts on human rights that are related to our business activities, as well as taking corrective measures and disclosing our human rights initiatives to third parties.
6．Correction and remedy
If it becomes clear that the Seiko Group has caused or contributed to negative impacts on human rights, we will work to correct or remedy such impacts. In addition, if negative impacts are caused by our suppliers or business partners, we will actively work with them to improve the situation and to ensure that they respect human rights going forward.
The Seiko Group will report on the progress of our efforts to promote respect for human rights on our Website and in other public media.
The Seiko Group will ensure that this commitment is reflected in all relevant policies, guidelines, and other necessary procedures throughout the Group, and will strive to see it firmly established throughout all Group business activities. We will also continue to provide appropriate education and training to all officers and employees.
9．Dialogue and discussion with stakeholders
Under this policy, the Seiko Group will collaborate with third-party organizations having expertise in human rights to enact a series of initiatives, and will engage in sincere dialogue and consultations with relevant stakeholders.
Established on May 10, 2022
Seiko Group Corporation
Chairman & Group CEO , CCO
Status of Human Rights Response
Identification of Significant Human Rights Risks and Response Policies
Using our Human Rights Risk Assessment, Seiko Group Corp. has identified 14 highly significant human rights risks that require special attention, and has established policies for the prevention and remediation of each one. Among these, we are prioritizing responses to 7 significant human rights risks (see A to G in the table below) that require immediate preventive and corrective measures.
In addition to existing measures, we have created new initiatives for the prevention and/or correction of each risk.
Based on the "Critical Human Rights Risks Requiring Special Attention," Seiko Group has identified the following 7 key areas for addressing significant human rights risks:
ⒶExpansion and Reinforcement of Harassment-Related Training
Achievements in FY2022
February 9, 2023: We conducted a "Business and Human Rights" Seminar for Seiko Group Executives
(Speaker: Mr. Keisuke Hanyuda, Owls Consulting Group, Inc.)
- Why do we need to talk about "Business and Human Rights" now?
- Trends in International Business and Human Rights Rules
- Comprehensive Overview and Practical Aspects of Human Rights Responses Required of Companies
- Exploring the Potential of Aggressive Human Rights Engagement - Towards Creating a "Human Rights Business”
- During fiscal year 2023, the Corporate Ethics Committee plans to hold workshops on harassment.
Theme: "Preventing Power Harassment: Where Does Acceptable Management Become Power Harassment?”
- First Half of the Year:
- Targeted at all managerial staff in domestic Group companies
- Targeted at specific managerial staff in domestic Group companies
- Second Half of the Year:
- Scheduled for employees across all Group companies
- In addition to these workshops, we are considering doing harassment training from a human rights risk perspective. This initiative aims to accelerate awareness among employees.
ⒷIdentification and Mitigation of Indirect Human Rights Risks and Economic Security Risks Associated with Our B2B Products
Carry Out Economic Security Due Diligence (DD)
- In Addition to Human Rights Issues, Thoroughly Investigate Compliance with Key Economic Security Regulations in B2B Operations in Japan, the US, and China
- Conduct Self-Assessment Questionnaires (SAQs) for three Group companies engaged in B2B business
- Based on the SAQ responses, conduct a comprehensive assessment of "areas of potential risk and potential opportunity," and consider future response strategies.
ⒸPromotion of Diversity, Equity & Inclusion (DEI) in Customer Interactions
FY 2023 Initiatives
Implement DEI Policies at Ginza Wako
From January 2023 onwards: Identify Problems in Service Delivery at Ginza Wako and Implement Solutions
- Create guidelines for interactions with customers who need special attention
- Re-evaluate in-store signage
Expansion of Target Scope
- Going forward, we plan to extend the same approach that we use in Ginza Wako to our watch boutiques and domestic retail subsidiaries. This expansion will further strengthen our efforts to promote DEI.
ⒹExpansion and Enhancement of Programs Aimed at Increasing the Number of Women in Leadership Positions
Mid-Term Business Plan KPI
- (KPI Scope: Seiko Group Corporation and 17 domestic subsidiaries)
- Implementing measures to support career development for management candidates, including career interviews and special training
- Promoting a flexible working environment that allows for diverse work styles for people at different stages of life
- Introduce and provide information about people both inside and outside the Group who could serve as useful role models
ⒺStrengthening Initiatives to Recruit and Promote a Diverse Workforce
- Actively recruit diverse talent with diverse backgrounds (mid-career hires, people with disabilities, foreigners, etc.)
- Create an environment that enables flexible working arrangements, including remote work arrangements
- Implement strategies such as regular interviews to retain and motivate mid-career hires
- Develop employment promotion plans in line with the gradual increase in the mandatory employment rate for individuals with disabilities
ⒻEstablishment of a Supplier Management System Based on Procurement Guidelines
|FY2022||Clarification of Policy and Standards||Formulation of Procurement Policy and Procurement Guidelines|
|FY2022 2nd Half||Review of Operational Rules - Phase 1||Examination of Internal and External (Supplier) Awareness|
|FY2023 1st Half||Review of Operational Rules - Phase 2||Examination of SAQ Content, Collection Methods, and Evaluation Methods|
|FY2023 2nd Half||Operations Start||Conduct Internal and Supplier Briefings, Obtain Consent, SAQ Operations (Request for Responses ~ Evaluation and Analysis ~ Feedback)|
|FY2024 onwards||On-site Audits||Examine SAQ Content, Collection Methods, and Evaluation Methods|
|Establish and Operate Complaint Redress Mechanism||Institute Corrective Measures, Follow-up Audits|
ⒼStrengthening Measures to Identify and Eliminate “High-Risk Raw Materials”
Mineral resources such as tin, tantalum, tungsten, gold, etc. that are mined in conflict or high-risk areas carry inherent risks of human rights violations, environmental degradation, corruption, involvement with armed groups, and more. Our corporate Group is committed to promoting responsible mineral sourcing to ensure that we do not contribute to conflicts or human rights abuses.Seiko is dedicated to responsible mineral procurement in accordance with the guidelines set forth by the Organization for Economic Co-operation and Development (OECD). The OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas serves as the basis for our efforts to uphold responsible practices and prevent actions that could contribute to or perpetuate conflicts or human rights violations.
- We will formulate and disclose the "Seiko Group Responsible Mineral Sourcing Policy” in conjunction with the start of procurement guidelines