Legal and Regulatory Violations and Competition Law Litigation Risk
First written in FY2017. 2 of 4 entries say "Mitigated", first in FY2021. Latest entry: FY2025.
The whole theme swung hardest in 2024: 4 of 11 companies on the "Worse" side.
2 other companies' latest entry also says "Mitigated".
- FY2025MitigatedAnnual report
「The Group has established and operates the Mitsubishi Heavy Industries Group Global Code of Conduct and various rules applicable to all of its officers and employees. It also holds regular Compliance Committee meetings, maintains an internal whistleblowing system, communicates messages from management emphasizing thorough compliance with laws and regulations, enhances and continuously conducts various in-house training programs covering compliance, information management and brand strategy, conducts internal audits based on issues identified by each division, and carries out human rights due diligence to conduct business activities that respect human rights.」
Human rights due diligence was added to the response to legal and competition-law risks, while controls covering the code of conduct, committees, internal whistleblowing, training and internal audits were continued and expanded. - FY2021MitigatedAnnual report
「The Group has established and operates the Mitsubishi Heavy Industries Group Global Code of Conduct and various rules applicable to all of its officers and employees. It also holds regular Compliance Committee meetings, maintains an internal whistleblowing system, communicates messages from management emphasizing thorough compliance with laws and regulations, enhances and continuously conducts various in-house training programs covering compliance, information management and brand strategy, and conducts internal audits based on issues identified by each division.」
The response to risks of legal violations and competition-law litigation systematically sets out the global code of conduct, the Compliance Committee, internal whistleblowing, messages from management, training and internal audits. - FY2019RestatedAnnual report
「In September 2013, in connection with the Company's admission that it had violated U.S. antitrust law in the sale of compressors and condensers for car air-conditioning systems to certain customers and its agreement to a plea bargain with the U.S. Department of Justice, lawsuits seeking civil damages were filed in North America against multiple companies, including the Company and its subsidiaries, and the Group is responding to them.」
The Company continues to disclose the general risk of violations of laws and regulations and its response to civil litigation in North America related to past violations of U.S. antitrust law. - FY2017First statedAnnual report
「In September 2013, in connection with the Company's admission that it had violated U.S. antitrust law in the sale of compressors and condensers for car air-conditioning systems to certain customers and its agreement to a plea bargain with the U.S. Department of Justice, lawsuits seeking civil damages were filed in North America against multiple companies, including the Company and its subsidiaries, and the Group is responding to them.」
In addition to the general risk of violations of laws and regulations, the Company discloses its response to civil litigation in North America related to past violations of U.S. antitrust law.