Our approach to Corporate Governance
Our corporate governance principles and policies are designed to make sure that our practices align with shareholders’ interests as well as those of our customers, communities and supply chain. We comply with all relevant laws and regulations and ensure we are transparent in our accounting practices, with the right checks, balances and controls in place to deliver for our stakeholders and on our sustainability commitments.
- 75% of our Board members are independent
- 100% of our Suppliers have our MHCUK Supplier Code of Conduct (or equivalent) in their contracts
- 100% of our full-time colleagues and contractors are paid the Real Living Wage or above
- 100% of colleagues and contractors completed Right to Work checks before starting with MHCUK
- 99.8% of colleagues have completed mandatory e-learning on Modern Slavery
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 to account.
The Board also delegates certain defined responsibilities to our various Board Committees.
To ensure that sustainability is embedded across our business two new executive sub-committees were put in place in FY2022/23 to provide greater focus on the effectiveness of progress towards Net Zero targets and our contributions to the UN SDGs.
The ESG Environmental Committee focuses on climate strategy and opportunities. The ESG Social and Human Committee focuses on Human Rights, Inclusion and Diversity, supporting the UN SDGs and the Company’s wider contribution to society, including charity and volunteering.
Compliance with J-Sox
To the extent it is relevant to the Group, the Group complies with Japan’s Financial Instruments and Exchange Act (J-SOX) legislation, using the COSO framework, as a consequence of our parent company, Mitsubishi HC Capital Inc, 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.
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.
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.
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.