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Purchasing Principles
Open To All Suppliers
NEC has conducted its operations with a view to provide "better products and better services, putting the first priority on customers' satisfaction" since its incorporation. The Purchasing Group at NEC has always taken measures to pursue and accomplish this objective. In the process of selecting suppliers to NEC, each prospective supplier is given an opportunity for evaluation by NEC without regard to their nationality, company-size or lack of a previous business relationship, such evaluations, having been conducted under NEC's criteria in order to determine whether or not a supplier will be able to help us provide "better products and better services" to its customers.
Mutual Benefit
To cope with the expansion of its business activities NEC intends to increase transactions with suppliers. At the same time, from the perspective of preserving reliable sources of supply, NEC intends to create long-term business relationships with suppliers that offer favorable terms in price, quality and delivery. We believe that these relationships will benefit all involved.
Fair Selection of Supplier
In selecting suppliers, NEC has given priority to those who can supply products most favorable to NEC in terms of price, quality and delivery. We evaluate a supplier's total capability under these criteria and fairly selects suppliers who can demonstrate, to the satisfaction of NEC, that they have complied and will continue to comply with the requirements of NEC. In addition, for a supplier to be selected it should be capable of maintaining a stable, long-term relationship with NEC.
Legal and Ethical Considerations
NEC abided by the principle that "the law takes priority over all other considerations" in the conduct of its business. Furthermore, employees of NEC engaged in the purchase of parts and materials are required to deal with all suppliers fairly, maintain at all times the highest standard of integrity with respect to their relationships with suppliers and maintain in the strictest confidence any confidential information acquired in connection with their business activities.
