Japanese corporations expanding in countries overseas must not only must implement compliance systems at a global level for corporate groups encompassing local subsidiaries with different cultures and languages, but also, in recent years, have faced intensifying pressure to keep those systems up-to-date at all times. The problems that confront overseas expansion are no longer limited to traditional improprieties such as corruption and cartel activities.
With the U.K.’s enactment of the Modern Slavery Act, the UN’s announcement of Agenda 2030 for the achievement of Sustainable Development Goals, and the advancement of NGO/NPO observation of various countries in response to these developments, corporations must be increasingly sensitive to issues of child labor and diversity. We are approaching an era where companies that do not voluntarily conduct human rights due diligence on business partner supply chains will be unable to conduct deals. Furthermore, the emergence of the GDPR has heightened awareness and revised thinking about human rights on a worldwide scale, and the integration of this new awareness into compliance systems will be key to corporate survival going forward.
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