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With the firm belief that sustainable long-term growth is realized only through compliance with ethical standards and provision of healthy values to stakeholders, the IPS has set up a secretariat to oversee ethics management processes within the organization such as the Code of Ethics, receipt and giving of gifts, and Integrity Pact.

The secretariat has been empowered with the authority to directly report ethics management-related issues to the CEO, and is establishing a platform for the firm establishment of ethics management within the organization. Since 2006, the executive office has disseminated and gained employees' commitment to the Code of Ethics and related guidelines

Code of Ethics


All employees


  • - All employees shall understand and comply with the guidelines related to their work.
  • - All employees shall seek the assistance of the person responsible whenever he/she is in doubt over the application of the Code of Conduct.
  • - All employees shall immediately raise issue if one is asked of an act which violates or may have violated the Code of Conduct.

Punishment for violation of the Code of Ethics

Employees who have violated the Code of Ethics may be subject to disciplinary action.

Compliance and prevention of irregularities and corruption

  • (Compliance) Employees shall adhere to the rules and laws of the relevant countries in which they are engaging in corporate activities.
  • (Compliance with company regulations) Employees shall follow company policies.
  • (Prohibition on payment or receipt of money) Employees shall not engage in bribery or irregular activities.
  • (Conflicts of interest) Employees shall avoid engaging in activities or relationships in which their personal interests may conflict with those of the company.
  • (Prohibition of creation of false documents) Employees shall not create false documents in any event.

Attitudes of employees

  • (Self-development) Employees shall personally define an ideal vision for themselves and consistently strive to develop themselves.
  • (Innovation leading) Employees shall exert efforts to adopt best practices at all times.

Responsibilities of employees

  • (Fair recruitment) IPS shall recruit, employ, train, compensate, promote and provide other employment conditions to employees regardless of legally-protected features such as race, religion, country, gender, age and physical injury.
  • (Fair policy) IPS shall reflect fairness and rationality in formulating its policy and disclose it in a transparent manner.
  • (Protection of privacy) IPS shall respect the privacy of employees by protecting their personal data.
  • (Talent nurturing) IPS shall provide educational opportunities required by work to all employees.
  • (Health and safety) IPS shall create and maintain a safe and healthy working environment, and will exert its best effort to prevent injuries in the workplace.

Customer satisfaction

  • (Prevention of violation of privacy) IPS shall not disclose information related to customers to a third party without prior approval from customers.
  • (Customer satisfaction) IPS shall continuously generate value that benefit customers by respecting the opinions of all customers at all times and providing services and benefits from a customer's point of view, and thereby gain the trust of customers.

Fair trade

  • (Inappropriate payment) IPS shall not provide money or services to inappropriately secure an advantage in selling or in exchanging services.
  • (Compliance with Fair Trade Act) IPS shall abide by the Fair Trade Act in all transactions including price fixing, purchasing, sales of products and services, and promotion.
  • (Fair transaction) IPS shall guarantee equal participating opportunities to and fairly provide information necessary to a transaction as per the principle of free competition to all eligible companies.

Environmental protection and social contribution

  • (Environmental protection) IPS shall exert the best efforts to protect nature and preserve a clean environment, and shall comply with various related environmental laws.
  • (Energy conservation) IPS shall do its utmost to eliminate wasteful consumption of resources.
  • (Social contribution) IPS shall recognize itself as a responsible member of the community and generate wealth and corporate value in a healthy manner and spearhead social contribution.

CEO's commitment

With the firm belief that ethics management cannot be established without the transformation of the CEO, IPS has hosted the B.E.S.T Forum: CEO Pledging Ceremony for 3 consecutive years since 2004. Directors and CEOs have participated in this event to declare their commitment to ethics management.