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Governance

Our approach to Corporate Governance

Mitsubishi HC Capital UK PLC and its Board are committed to high standards of corporate governance which underpins the effective running and long-term success of our Company. Through the development of our corporate governance structure, we are committed to addressing the needs of all of our stakeholders. We continue to strengthen our compliance, monitoring and quality assurance functions, to ensure we have the appropriate level of governance and control arrangements in place to ensure we deliver fair outcomes to our customers. This is central to our vision and values and we recognise that this is a theme of continuous improvement.

Regulations in the UK require companies to disclose in their Annual Reports (for accounting periods beginning on or after 1 January 2019) which corporate governance code, if any, has been applied and how.

Since 1 April 2019 (formerly as Hitachi Capital (UK) PLC), we have applied the Wates Corporate Governance Principles, which are designed as a framework for companies whose shares are not listed to comply with corporate governance reporting requirements. A review conducted by the Company’s Internal Audit function in February 2021 found that the Company had followed the Wates Principles in all material respects.

Further information is available in our Annual Report which includes our Corporate Governance Statement and details of the Board Committees.


Board of Directors and Committees

Mitsubishi HC Capital UK PLC's board has an oversight role, delegating day to day responsibility for managing the Group’s business to the executive team and holding the Chief Executive Officer to account.

The Board also delegates certain defined responsibilities to our various Board Committees.

Compliance with J-Sox

Throughout the year ended 31 March 2021, the Group complied with the Japan’s Financial Instruments and Exchange Law (J-SOX) to the extent it is relevant to the Group, as a subsidiary of its parent, using the COSO framework, as a consequence of Hitachi Limited being listed on the Tokyo Stock Exchange.


Business and Human Rights

We aim to maintain a culture of openness, honesty and integrity and ensure that, as a far as possible, there is an atmosphere of trust and harmony across the organisation, with all employees able to raise these matters without fear of retribution.

We are also committed to the prevention, detection and elimination of all forms of corrupt business practice and do not tolerate any form of bribery or corruption. This policy applies to all staff, including permanent employees, temporary agency staff and contractors. We expect business partners, especially those introducing business, to promote and follow this policy or equivalent policies of their own.


Bribery Act 2010

Mitsubishi HC Capital UK PLC is committed to the prevention, detection and elimination of all forms of corrupt business practice. The Board of Mitsubishi HC Capital UK PLC does not tolerate any form of bribery or corruption.

This Policy applies to all staff, including permanent employees, temporary agency staff and contractors. We expect business partners, especially those introducing business to Mitsubishi HC Capital UK PLC, to promote and follow this Policy or equivalent policies of their own.

Mitsubishi HC Capital UK PLC meeting to prevent corrupt business practice

Internal Control & Risk Management

The Board of Directors is responsible for the Group’s system of internal control and risk management and for reviewing its effectiveness.

Systems and procedures are in place to identify, control and report on the major risks facing the Group.

Further information about the Group’s risk management framework is set out in the Group Strategic Report in our Annual Report.


Whistleblowing Policy

Mitsubishi HC Capital UK PLC aims to maintain a culture of openness, honesty and integrity and ensure that, as a far as possible, there is an atmosphere of trust and harmony across the organisation.

We recognise that issues and concerns could arise and are committed to ensuring that all employees are given the opportunity to raise these matters in complete confidence without fear of retribution with their anonymity protected if required.

Our Whistleblowing policy covers the airing of genuine concerns that might arise regarding malpractice or other unethical behaviour.

Whistleblowing meeting in confidence

Financial Crime

We are committed to supporting regulators and law enforcement authorities in the fight against financial crime.

On our website we provide guidance you can read here which informs customers of how they can protect themselves against financial crime and we ensure any victims receive a fair outcome.

Our Group Financial Crime Prevention Team provides employees with advice, education, and guidance about financial crime prevention, including new and emerging financial crime risks.

Anti-Slavery and Human Trafficking

From a supply chain perspective, we expect our business partners to promote and follow our policy in relation to human rights, and we have strict guidelines of not entering into business arrangements with third parties that fail to demonstrate that their conduct is consistent with this policy.

You can read our Anti-Slavery and Human Trafficking Statements here for 20192020 and 2021.