Mitsubishi Corporation (MC) is committed to continuing to conduct business activities that are legal and fair. The cornerstones of this longstanding company-wide commitment are the Three Corporate Principles and the Corporate Standards of Conduct. Year after year, companies are being required to raise their compliance standards. Amid this trend, MC has worked actively to upgrade and reinforce its compliance system. Many concrete actions have been taken. In September 2000, MC formulated its Code of Conduct and established the post of Compliance Officer. In April 2003 the Code of Conduct was revised, and all officers and employees of Mitsubishi Corporation, the parent company, were required to sign a written oath of adherence to this Code.
We believe that it is important to promote compliance on a consolidated basis, not just at the parent company. That's why we have stepped up actions to put in place a compliance system at our subsidiaries and affiliated companies around the world that is of the same high standard as that at Mitsubishi Corporation itself.
One specific measure in this regard is a suggestion box system that was established in February 2005 at the outside legal counsel for the MC Group for the use of officers and employees of subsidiaries in Japan. This move is an extension of suggestion boxes established in November 2001 inside Mitsubishi Corporation and at outside legal counsel, as part of an internal whistleblower system.
As an important strategy for raising value on a consolidated basis, we will continue to upgrade and reinforce compliance initiatives that are effective in instilling awareness in each and every employee, including employees of MC's subsidiaries and affiliated companies.