Compliance

Glory strives to foster awareness of compliance Group wide and conduct honest and fair business activities.

Glory views legal compliance as an important management issue, and therefore strives to maintain and improve our compliance framework. One measure taken in that regard is the establishment of the Compliance Committee.

The Compliance Committee, chaired by President and comprised of full-time directors, related department heads, and two outside experts (attorneys at law), deliberates on key compliance-related issues in Glory Group, and the outcome is reported to the Board of Directors.

The Chief Compliance Officer, appointed from among the officers in charge, takes the initiative in planning measures to enhance compliance and in engaging in employee education and awareness activities.

As a part of this, we conduct compliance awareness surveys on a regular basis, striving to improve the mindset of our employees.

We have established the following whistleblowing hotlines for compliance matters occurred in the Glory group:
1) Direct supervisor of the whistleblower
2) The Compliance Committee Office (Legal and Human Resources Departments)
3) Outside counsel
4) Outside consultants

We aim to detect and mitigate issues at an early stage through these hotlines, while protecting whistleblowers in accordance with the Glory Group Whistleblowing Code of Practice.

In fiscal 2022, 13 cases were reported, for which we have conducted fact-finding studies and taken necessary actions.

In addition to the above, any legal and/or compliance issues are dealt with as soon as they are identified, and communicated to employees through internal notices and training to prevent recurrence.

Glory has established the Glory Legal Code of Conduct governing the laws and codes of ethics that must be adhered to by all Glory Group officers, employees, and business partners, including distributors, both domestic and overseas.

The code was developed from a global perspective to accommodate the rapid expansion of our overseas business. We strive to improve employee awareness of compliance through the distribution of the "Compliance Handbook" and training for every Group employee. In addition, we strive to conduct honest and fair business practice worthy of the Glory brand and to maintain and ensure a high level of compliance and ethical standards. Additions and amendments to the code may be made after approval by the company’s directors.

In fiscal 2022, there were no violations of laws or regulations that had a significant impact on our business.

We have specified rules to prohibit bribery and prevent corruption in the Glory Legal Code of Conduct and endeavor to keep all domestic and overseas employees and business partners informed of them. We also conduct e-learning and other suitable means of education to prevent corrupt practices.

In fiscal 2022, there were no occurrences of corrupt practices, including bribery.

Glory Legal Code of Conduct（Bribery and Corruption, Money Laundering）

(ⅲ) Bribery and Corruption

GLORY takes a zero-tolerance approach to bribery and corruption (and requires its business partners to do so as well). GLORY is committed to acting professionally, fairly and with integrity in all our business dealings and relationships wherever we operate and implementing and enforcing effective systems to counter bribery. GLORY upholds all laws relevant to countering bribery and corruption in all the jurisdictions in which we operate.

(ⅳ) Money Laundering

Money laundering is hiding the criminal origins of money or the proceeds of crime within legal businesses or business activities or using legitimate money to support terrorism. Most countries now have antimony laundering legislation which enables law enforcement agencies to trace and recover laundered money. Businesses may commit offences by using laundered money or concealing its nature or origin or tipping off the money launderer - i.e. disclosing anything likely to prejudice an investigation or prejudicing such investigation. In addition there are offences of failing to report a suspicion if there are reasonable grounds to know or suspect that a third party is laundering money through your organisation.

The Glory Group recognizes the importance of its responsibility to properly manage the personal information of stakeholders, including customers, business partners, and shareholders acquired through our business activities. We therefore ensure the proper management of personal information according to the Privacy Policy.

Also, alongside the enforcement of the Amended Act on the Protection of Personal Information in April 2022, we are implementing initiatives such as maintenance regulations and carrying out training sessions to related departments to ensure proper handling.

We conduct comprehensive training, including at Group companies, to ensure thorough compliance. New employee education includes learning about fundamental legal and ethical issues as well as internal rules. In addition, we conduct e-learning every year during Corporate Ethics Month in October for all domestic group employees to refresh their understanding of basic issues and social trends.

In fiscal 2022, we provided training around the themes of “Reaffirming the importance of compliance” and “Reconfirming our management philosophy and other key principles”, with the attendance of 6,549 employees (99.5%). Other programs include newly appointed manager training and specialized training to develop a more thorough and precise understanding of issues concerning laws and corporate ethics.