The Sumitomo Business Spirit
The origin of the Sumitomo Metal Mining Group dates back to Soga Riemon (1572-1636) ,who developed a copper smelting technique known as nanban-buki. As the successor of this business, Sumitomo has evolved and expanded through such enterprises as copper smelting and mining.
Also, Sumitomo Masatomo (1585-1652) wrote and left as his legacy Monjuin Shiigaki, which describes how a merchant should conduct business. The precepts set down in this document deepened into the Sumitomo Business Spirit, which is now the spiritual backbone of the Sumitomo Metal Mining Group. The Sumitomo Business Spirit is described as follows:
Sumitomo shall achieve strength and prosperity by placing prime importance on integrity and sound management in the conduct of its business.
Sumitomo shall manage its activities with foresight and flexibility in order to cope effectively with the changing times.Under no circumstances,however,shall it pursue easy gains or act imprudently.
(Quoted from the Sumitomo Goshi Kaisha Administrative Regulations, named “Summary of Business Operations”, formulated in 1928)
Our predecessor have put this business spirit into practice for approximately 400 years and have developed the Sumitomo Metal Mining Group under it. Fully recognizing the importance of the values and ethics retained in “the Sumitomo Business Spirit”, which our predecessor have fostered, Sumitomo Metal Mining Group will continue to make efforts to consolidate its businesses and to strengthen the social trust in its businesses.
For more information about the history and business spirit of Sumitomo Group, refer to the homepage of Sumitomo Group Public Affairs Committee.