TOA OIL Co.,Ltd.
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Corporate Philosophy
Business Model
The TOA OIL Business Model
TOA OIL places human resources, the most critical component of an enterprise, at the core of its business model. The business model includes three main principles: the assurance of health, safety, security, and the environment (HSSE); the maximization of refining revenues through effective operation and investments to enhance added value; and efforts to further reduce costs. The TOA OIL GroupTOA OIL Company, Ltd. and its subsidiaries and affiliatesis deeply committed to realizing this business model. We seek to coexist in harmony with the communities in which we operate, place the highest priority on safety, and strive to engage in environmentally friendly, community-oriented refinery operations.

To realize the business model, we have introduced Total Productivity Management (TPM) activities: full-participation production maintenance activities to improve human resources and facilities. In this way, we seek to develop human resources and strive to maintain and improve the level of our technology.

One aspect of our pursuit of maximum added value is expansion of the scope of our business operations. An example of this is our entry into the independent power production business. We have mounted an all-out effort to take advantage of manifold business opportunities.
Management Philosophy
The mission of TOA OIL Co., Ltd. is to contribute to society through the stable supply of energy. On that basis, we hereby establish the TOA OIL Management Philosophy.

1.  We make assurance of HSSE (health, safety, security, and the environment) the cornerstone of management.
2.  We constantly promote improvement through originality, ingenuity, and technological innovation, and strive for sustainable development.
3.  We promote cooperative relations with TOA Group companies and our contractors, and seek mutual prosperity.
4.  We strive to develop human resources and skills, and to form a dynamic human community based on mutual understanding and trust.
5.  We engage in fair, transparent management and create a corporate culture that enables employees to speak with pride and enthusiasm of the development of the Company and its bright future.
Principles of Business Conduct
We hereby establish and put in practice the TOA OIL Principles of Business Conduct, a code of conduct based on our Management Philosophy.

Our Values
We share a set of core values - honesty, integrity and respect for people. We also firmly believe in the fundamental importance of trust, openness, teamwork and professionalism, and pride in what we do.
With the foundation of the core values above, we hereby set out the Code of Conduct applicable to all business activities we do.
1. Sustainable Development
Our Group Companies commit to contribute to sustainable development via providing forms of energy necessary to society and providing other products and services which our customers desire. This requires balancing short and long-term interests, and integrating economic and social responsibilities such as, environmental, compliance and contributions to the society, when promoting our business activities.
2. Responsibilities
Our Group Companies recognize the following areas of responsibility:
1)  Responsibility to customers
To win and maintain customers by developing and providing products and services which offer value in terms of price, quality, safety and environmental impact, which are supported by technological, environmental and commercial expertise.
2)  Responsibility to shareholders
To protect shareholders' investment, and provide an appropriate return.
3)  Responsibility to employees
To respect the personalities and individuality of our employees, to provide them with safe conditions of work and good terms and conditions of service, to promote the development and best use of human talent and to encourage the full participation by employees in their work and the application of these principles.
4)  Responsibility to contractors
To seek mutually beneficial relationships with contractors (including joint ventures) and to endeavour to promote the application of these principles in so doing. The degree to which the concept and contents of principles are promoted will be a consideration in the decision to enter into or remain in such relationships.
5)  Responsibility to society
To conduct business as a responsible member of society, to observe laws, to respect fundamental human rights and give proper regard to health, safety, security and the environment consistent with the aim of contributing to sustainable development.
3. Business Integrity
Our Group Companies set out and observe necessary company rules, and insist on honesty, integrity and fairness in all aspects of their business.
The same is expected in the relationships with all those with whom we do business. The offer, payment, soliciting and acceptance of bribes in any form whatsoever are unacceptable practices. Employees must avoid conflicts of interest between their private financial activities and their part in the conduct of the Company's business. All business transactions on behalf of Group Companies must be reflected accurately and fairly in the accounts of each company in accordance with established procedures and be subject to audit.
4. Compliance
Our Group Companies comply with all applicable laws and regulations of the countries in which we operate.
5. Health, Safety, Security and the Environment
Consistent with the aim of contributing to sustainable development, our Group Companies have a systematic and continuous approach to health, safety, security and environmental management.
To this end our Group Companies manage these matters as critical business activities, set targets for improvement, and measure, appraise and report performance.
6. Economic Principles
Our Group Companies assert that sound profitability is essential to discharging these responsibilities and staying in business. It is a measure both of efficiency and of the value that customers place on our products and services. Profits are essential to the allocation and maintenance of corporate resources and to support the continuing investment required to maintain stable future energy supplies to meet consumer needs. Without profits and a strong financial foundation it would not be possible to fulfil the responsibilities outlined above.
Criteria for investment decisions are not exclusively economic in nature but also take into account other issues, such as social and environmental considerations.
7. Competition
Our Group Companies seek to compete freely and fairly
8. The Community
Our Group Companies, as responsible members of society, positively make contributions to the community. The most important contribution that a company can make to society is in performing its basic activities as effectively as possible.
9. Communication
Our Group Companies recognize that in view of the importance of their activities and their impact on the national economy and individuals, open communication is necessary. To this end, we provide timely and appropriate information to parties with legitimate interests.
In our interactions with customers, employees, business partners and local communities, we seek to listen and respond to them honestly and responsibly.
10. Political Activities
Our Group Companies do not make payments to political parties, organisations or their representatives or take any part in party politics. However, when dealing with governments, we have the right and responsibility to make our position known on any matter which affects us, our customers, our shareholders, our employees or local communities.
The Principles of HSSE
1.  Assurance of health, safety, security, and the environment (HSSE) is the cornerstone of TOA OIL's activities and a social responsibility.

2.  Prevention of occupational accidents and the assurance of health are essential to respect for human beings.

3.  Assurance of health, safety, security, and the environment (HSSE) is achieved through individual self-consciousness and responsible behavior.
Basic Policy on HSSE
Recognizing our social responsibility to assure safety, engage in risk management, preserve health, and protect the environment while engaging in business activities, TOA OIL establishes the Basic Policy on HSSE as set forth below.

1.  TOA OIL obeys relevant laws and ordinances concerning accident prevention, security management, occupational safety and health, product safety, and environmental protection; seeks to introduce appropriate policies and measures; and strives for continuous improvement in these areas.

2.  When embarking on new businesses, installing large-scale facilities, and developing new products, TOA OIL performs a prior HSSE assessment and appropriately reassesses matters connected with HSSE in response to changing circumstances.

3.  We work to reduce the environmental load that our business operations place on the environment by promoting further resource conservation and energy conservation measures and preventing emissions of pollutants.

4.  At every stage from the receipt of crude oil to the shipment of products, we duly consider HSSE and provide information on the appropriate handling and use of our products to transport agents and users.

5.  We strive to ensure safe operation and the security of facilities and devise measures to prevent accidents and injuries.

6.  We strive to prevent occupational accidents.

7.  We establish contingency plans in preparation for accidents, disasters, or terrorist attacks and devise appropriate measures to minimize damage through cooperation with the relevant authorities in the event that such incidents occur.

8.  We periodically conduct audits of compliance with laws and ordinances and independent standards related to HSSE and the implementation of policies and measures.

9.  We engage in employee awareness activities, education, and training concerning HSSE and request greater awareness, voluntary participation, and cooperation from employees. We request the cooperation of contractors and other concerned businesses and provide advice and guidance as necessary.

10.  We engage in research concerning HSSE and promote the utilization of the findings.
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