Fundamental Beliefs
Respect for the Individual
Initiative
Initiative means not to be bound by preconceived ideas but to think creatively and act on your
own initiative and judgment, while understanding that you must take responsibility for the
results of those actions.
Equality
Equality is at the heart of everything we do. Our people are not employees, they are associates
and they all have exactly the same opportunities to progress. We recognize and respect the
individual differences in one another and treat each other fairly. An individual’s race, gender,
age, religion, national origin, educational background, social or economic status has no bearing
on the individual’s opportunities.
Trust
The relationship among associates at Honda should be based on mutual trust. Trust is created by
recognizing each other as individuals, helping out where others are deficient, accepting help
where we are deficient, sharing our knowledge, and making a sincere effort to fulfill our
responsibilities
The Three Joys
The Joy of Buying
The joy of buying is achieved through providing products and services that exceed the needs and
expectations of each customer.
The Joy of Selling
The joy of selling occurs when those who are engaged in selling and servicing Honda products
develop relationships with a customer based on mutual trust. Through this relationship, Honda
associates, dealers, and distributors experience pride and joy in satisfying the customer and in
representing Honda to the customer.
The Joy of Creating
The joy of creating occurs when Honda associates and suppliers involved in the design,
development, engineering, and manufacturing of Honda products recognize a sense of joy in our
customers and dealers. The joy of creating occurs when quality products exceed expectations, and
we experience pride in a job well done.
Honda Philosophy
The Honda Philosophy, handed down to the Company by its founders
Mr. Soichiro Honda and Mr. Takeo Fujisawa, is composed of Fundamental Beliefs (Respect for the
Individual and The Three Joys), the Company Principle and Management Policies. The Philosophy
forms the values shared by all Honda Group companies and all of their associates and is the
basis for Honda’s corporate activities and the associates’ behavior and decision-making.
Honda incorporates the Philosophy into educational programs for
its associates and gives it life by turning it into action, from everyday business activities to
management decisionmaking, so that every person in the Company can responsibly continue putting
the Philosophy into practice.
Additionally, Honda engages in corporate activities under the
concept of “Free and Open, Challenge, Coevolution”. Specifically, this concept puts into
practice Honda’s corporate culture of “taking up the challenge without fear of failure, free
from the prejudice of preconceived ideas, and with a foundation of teamwork based on trust”
Society’s expectations toward Honda continues to evolve with
times. As a responsible company, Honda will resolve problems while listening to the voices of
its diverse stakeholders so as to meet their expectations and earn their trust.
HONDA MOTOR CO., LIMITED, JAPAN
Corporate Philosophy
Maintaining a global viewpoint, we are dedicated to supplying products of the highest
quality, yet at a reasonable price for worldwide customer satisfaction.
Management Policy
- Proceed always with ambition and youthfulness.
- Respect sound theory, develop fresh ideas, and make the most effective use of time.
- Enjoy your work and encourage open communication.
- Strive constantly for a harmonious flow of work.
- Be ever mindful of the value of research and endeavor.
HONDA ATLAS CARS (PAKISTAN) LIMITED
Corporate Philosophy
- Dynamic manufacturing and marketing of prestigious products to the entire satisfaction
of customers.
- Create ideal working environment for continuous development of products and personnel.
- Provide adequate return to shareholders and fulfill corporate civic obligations.
Management Policy
- Respect for all – man has priority over machine.
- Man is the key in controlling i.e. machines, methods and materials.
- Follow 3S spirit i.e. small, smart and speed.
- Believe in 3A “Hands on Approach” i.e. be on Actual Spot, look at the Actual Spot and
confront the Actual Situation.
- Be a good corporate citizen; assume a responsible role in the community.
Priority Standards of Conduct
- Safety: There can be no production without safety.
- Quality: To achieve complete customers satisfaction by focusing on smart
teamwork, meeting all applicable legal and regulatory requirements & continually
improving our strategies and goals.
- Productivity: With safety and quality, each of us will strive to excel the
performance in all fields of our activities i.e Production, Model Planning, Quality
Control, Purchasing, Sales & Marketing, After Sales, Finance, Import, Purchase &
Logistics, IT, IA, Health Safety and Corporate Governance, Legal IPR and CRM and Human
Resources & Administration Division.
Human Resources and Succession Plan
Human Resources Policy is to hire young, fresh, energetic and active associates to meet the
existing and future workforce requirements and providing its associates maximum
opportunities for internal mobility through personal training and development to enable them
to take higher positions. Human Resource Division has succession plan for each key job/area
to make sure the continuity of operations in the relevant division and to fill the
temporary/permanent vacancy.
Quality Policy
We at Honda Atlas Cars (Pakistan) Limited, strive for supplying top quality Honda Cars to get
ultimate customers satisfaction accomplished by:
- Smart team work,
- Complying all applicable legal and regulatory requirements,
- Continually improving our strategies and goals.
Communication and Disclosure Policy
The objective of this Communications and Disclosure Policy (the "Policy") is to establish a
structured framework for communications with the investing public about Honda Atlas Cars
(Pakistan) Limited., (the "Company"). The Policy outlines the procedures for disseminating
information to various stakeholders, including shareholders, investors, lenders, Company's
associates, regulators, customers, and the general public. It is formulated to ensure
transparency, consistency, and accuracy in all communication and disclosure practices.
This Policy extends to all Company's associates, its Board of Directors, and its
Sub-committee members, who are authorized to speak on its behalf.
Anti-Harassment Policy
This Anti-Harassment Policy is established under the Protection against Harassment of
Women at the Workplace Act, 2010, to ensure a safe and respectful working environment for
all associates of Honda Atlas Cars (Pakistan) Limited.
This policy outlines the procedures for reporting, investigating, and addressing incidents
of harassment at workplace.
Accused: An associate against whom a complaint of harassment has been made. Associates: Any
individual engaged with HACPL including regular, contractual, interns, or apprentices.
Employer: Any person or body responsible for employing workers in HACPL, including Executive
Committee, Management, and Contractors.
Harassment includes:
Verbal Harassment: Offensive comments, jokes, slurs, or derogatory remarks. Physical
Harassment: Unwelcome physical contact, assault, or threatening behavior. Visual Harassment:
Displaying offensive posters, drawings, or digital content.
Sexual Harassment: Unwelcome sexual advances, requests for requests for sexual favors, and
other verbal or physical conduct of a sexual nature.
causing interference with work performance or creating an intimidating, hostile or offensive
work environment, or the attempt to punish the complainant for refusal to comply to such a
request or is made a condition for employment.
Inquiry Committee: A committee established to investigate complaints of harassment under
sub-section (1) of section 3 of the act.
Ombudsman: means the Ombudsman appointed under section 7 of the act. Organization: HACPL,
including all its divisions, and all its offices and Sugoi Shops. Complainant: A woman or
man who has made a complaint of harassment.
Sustainability Policy
Honda Atlas Cars (Pakistan) Limited (HACPL) is committed to sustainable business practices
that integrate Environmental, Social and Governance (ESG) principles. This ESG Policy
establishes a framework for HACPL's commitment to environmental stewardship, social
responsibility, and corporate governance. The policy addresses the growing challenges of
climate change, resource scarcity, community well-being, and corporate integrity, and
ensures long-term value creation for all stakeholders. This policy aligns with Honda's
philosophy and its vision for the 21st century: 'striving to be a company society wants to
exist,' which emphasizes 'Creating the Joys,' 'Expanding the Joys,' and 'Ensuring the Joys
for the Next Generations.' The 'Honda 2030 Vision' serves as a key milestone, providing
clear guidance for HACPL to achieve its objectives.
In order to achieve these
objectives, HACPL shall focus on the following core principles:
1-Environment
2-Social
3-Governance
Honda Human Rights Policy
Since Honda Motor founding in 1948, Honda has continuously worked to provide value to help
people and create a better society through our technologies, ideas, and designs. The
starting point out such efforts is our desire to "help people and society" and "expand the
potential of people's lives".
The underlying basis of these efforts is the concept of "Respect for the Individual," which
constitutes Honda's Fundamental Beliefs.
Honda believes that human beings are born as free and unique individuals with the capacity
to think, reason, and create - and the ability to dream.
Our wish is to nurture and promote these characteristics in Honda by respecting individual
differences, trusting each other as equal partners, exercising abilities to the fullest, and
sharing joy.
From this standpoint, we adopt Respect for the Individual, consisting of the three elements
of initiative, equality, and trust, as one of our Fundamental Beliefs.
We believe this spirit should permeate all our relationships with everyone. Based on the
concept of Respect for the Individual, Honda has formulated the Honda Human Rights Policy
("the Policy") to fulfill our responsibility to respect the human rights of stakeholders who
may be affected by our business activities.
By putting the Policy into practice, we will cooperate with our stakeholders to undertake
business activities in a sustainable manner to continue to be
"a company that society wants to exist."
Risk Management Policy
This Risk Management Policy establishes a framework for identifying, assessing, and managing
risks within Honda Atlas Cars (Pakistan) Ltd (the Company), a listed company. This policy
applies to all levels of the organization and covers various types of risks that may impact
the Company's operations, reputation, financial performance, and strategic objectives.
Business Ethic Proposal Line (BEPL)
Honda is committed to follow fair business practices to safeguard the stakeholder's interest.
These stakeholders are our shareholders, customers, suppliers, dealers, associates and the
community. Stakeholder's interest can be sustained if company runs business with
transparency, fairly, efficiently and according to the Honda's Code of Conduct and Ethics
Guidelines. Large companies need to implement internal control systems, in order to ensure
the same, in response to both stakeholders and society's interest, at large.
Honda's stated vision & goal is to become a company that society wants to exist.
Therefore, it is important to establish a system & organization to guarantee fairness of the
company's operations and to meet the expectation of the stakeholders and the society, so as
to enhance and protect the credibility and image of Honda.
Consequently, Honda Corporate Governance (HCG) has been established to assure the
implementation of corporate management systems. HCG emphasizes the accountability of every
Honda associate in establishing the standards of HCG through their daily operations.
Business Ethics Committee (BEC)
In order to address the above said issue and to provide associate a platform to raise their
concerns, the management hereby form a Business Ethic Committee (SEC). The Committee will
consist of the following associates:
- President/ CEO (Chairman)
- Vice President
- Vice President (Production)
Guidelines On Insider Information Control and Insider Trading Regulation
Purpose
The purpose of these guidelines is to clarify the management standards of Honda Atlas Cars
(Pakistan) Limited (the "HACPL") regarding insider information and the standards of conduct
regarding the purchase, sales etc. of Shares, etc. of HACPL, and to prevent insider trading
of Shares, etc. in breach of the Relevant Laws (defined below) in each jurisdiction.
Definitions
The definitions of terms specified in these guidelines shall be as follows:
- "Insider Information" means Material Facts about Honda Companies that have not been
publicly disclosed.
- "Relevant Laws" means, individually and collectively, the following laws and ordinances,
relevant government ordinances, and regulations of the Securities and Exchange
Commission of Pakistan (SECP)
- The Listed Companies (Prohibition of Insiders Trading) Guidelines;
- The Listed Regulations of Pakistan Stock Exchange Limited; (the "Exchange")
- The Financial Instruments and Exchange Act of Japan (the "FIEA) and relevant government
and ministerial ordinances;
- The U.S. Securities Exchange Act of 1934 and rules thereunder (including Rule lOb-5) and
the New York Stock Exchange Listed Company Manual;
- Other applicable laws and ordinances, relevant government ordinances, and regulations
circulars, and guidelines issued by SECP from time to time.
- "Shares, etc." means common stocks, class stocks, warranties, stock acquisition rights,
bonds with stock acquisition rights bonds, partnerships investment trusts, or other
securities specified as subject to insider trading regulations under the Relevant Laws,
and securities representing options therefor.
- "Purchase, Sale, etc." means purchases, sales, other transfers or acquisitions for
compensation, derivative transactions, and other acts of disposal that are subject to
insider trading regulations under the Relevant Laws.
Restriction On Purchase, Sale, Etc., Of Shares Etc.,
- Director(s), CEO, executives, and associates of HACPL who come to know of any material
fact in the course of their duties shall not Purchase, Sell, etc. any Shares, etc. of
HACPL until such material fact is disclosed.
- Director(s), CEO, executives, and associates of HACPL who have received information
about a material fact from persons who come to know about the material fact in the
course of their duties, shall not Purchase, Sell, etc. any Shares, etc. of HACPL until
such material fact is disclosed.
- The purchase, sale, etc. of Shares, etc. of HACPL by any executive or employee
shareholding association in compliance with the Relevant Laws is not prohibited.
- Director(s), CEO, executives, and associates of HACPL who come to know of any material
fact of HACPL in the course of their duties, shall not newly join, withdraw from, or
suspend, resume or change the volume of their contributions to, the abovementioned
executive or employee shareholding association until such material fact is disclosed.
Honda Conduct Guidelines – Honda Code of Conduct
Guided by the fundamental beliefs of “Respect for the Individual” and “The Three Joys” (“The
Joy of Buying,” “The Joy of Selling,” and “The Joy of Creating”), Honda endeavors to share
joy with people around the world and aspires to be “a company society wants to exist.”
A prerequisite to fulfilling this philosophy is to act with integrity to customers and
society at all times. Failure in our duty to maintain sincerity would result in loss of the
confidence and trust we have established over the years; a precious asset that would be
extremely difficult to recover.
For this reason, in 2003 we announced and subsequently implemented the Honda Conduct
Guidelines. During this time, Honda has expanded its business throughout the globe, and I
feel that expectations from stakeholders, including customers, have grown greater as well.
This also reflects the increasing importance for each of us to act responsibly, as expected
by customers and society.
In view of these trends, we have revised the Honda Conduct Guidelines as the “Honda Code of
Conduct” covering acts of integrity for Honda associates around the world.
Our founder Soichiro Honda once said, “What you make reflects you”. I also believe that a
sincere attitude toward customers on the part of each individual Honda associate is what
creates excellent products and services.
The continuous growth of Honda depends on the appropriate conduct of each Honda associate
toward customers and society.
Under the guidance of the Honda Philosophy and as a company empowered by its aspiration to
realize people’s dreams, Honda has thus far been able to establish trust with its customers
and society by engaging in global business operations and sharing joy with people around the
world. As a result of our global deployment, Honda now has associates in numerous countries
and regions around the world. Considered conduct grounded on the Honda Philosophy on the
part of each individual associate is essential for Honda in reinforcing the trust
established with our customers and society. By sincere, we mean free from deceit
(dishonesty) and hypocrisy (two-facedness) and being earnest.
Recently, we have established the Honda Code of Conduct as sincere actions that we would
like all persons working at Honda around the world to follow.
To reinforce the trust of customers and society and make Honda “a company society wants to
exist,” all associates including officers and directors of Honda and its subsidiaries
(hereinafter referred to as “associates”) (where HM and its subsidiaries are collectively
called as the “Honda Group”) should fully understand and comply with the Honda Code of
Conduct, and practice sincere and ethical conduct that conforms to the Code.
Acts in violation of the Code may be subject to discipline under company policies and
applicable laws and regulations.
Responsibilities of the Management
As a member of the management, you should serve as a role model and carry out work under high
ethical standards to foster a sincere and ethical corporate culture.
You should also strive to foster an organizational culture in which your associates put the
Honda Code of Conduct into practice and are able to report or consult any concerns without
fear of retaliation.
In cases where violations or possible violations of the Code are found, you must not neglect
the situation. Instead, you should respond appropriately by taking actions such as reporting
to the legal department or compliance & ethics contact line.
Scope of Application
The Honda Code of Conduct applies to associates of the Honda Group.
Honda also advocates adherence to the Code on the part of its affiliates.
Honda code of conduct explain in eight categories
Relationships with Customers
- Quality of Products and Services
- Appropriate Advertising and Publicity
- Compliance with Competition Laws
Relationships with Business Partners
Relationships with Colleagues / Work Environment
-
Communication in the Workplace
- Respect of Human Rights
- Safety and Health
Relationships with Honda (Company Assets)
-
Company Assets
- Management of Information
- Conflict of Interest
Relationships with Society
-
Traffic Safety
- Environmental Protection
- Contribution to Society
Relationships with Political and Administrative Entities
Relationships with Shareholders, Investors, and Other Stakeholders
-
Timely and Appropriate Disclosure of Information
Compliance and Reporting Non-compliance Incidents
- Compliance and Ethics
- Reporting Non-compliance Incidents
Health, Safety and Environmental Policy
Honda Atlas Cars (Pakistan) Limited, being a leading car manufacturing company in Pakistan,
is committed to produce Honda Cars with sustainable performance in Health, Safety and
Environment (HSE). In order to achieve this, the company shall:
- provide safe and healthy workplace to all stakeholders affected by its operations, for
the prevention of injury and ill health.
- assign responsibilities for effective implementation of HSE management systems.
- comply all HSE applicable legal, regulatory and other requirements.
- create awareness and understanding about health, safety and environmental issues amongst
our associates.
- empower workers for their participation and consultation on health and safety related
matters
- identify and evaluate risks & opportunities to eliminate, reduce or manage risks related
to company’s operations proactively to ensure that health & safety hazards and
environmental impacts are prevented.
- formulate objectives and targets to eliminate workplace hazards, prevent environment
pollution and continually improve HSE management systems, as much as possible.
- keep public and others interested parties informed on our HSE performance, wherever
required.
Operating Principles
- Always keep the deadline
- Never make excuses
- Teamwork
BOARD OF DIRECTORS
The Board of Directors is comprised of three Independent Directors and six Directors
representing Honda Motor and Atlas Group. In order to respond to the mandate of the
shareholders to achieve sustainable growth and enhance the corporate value of the Company
over the medium to long term, the duties of the Board include making decisions concerning
key Company matters, strategic business direction, corporate governance, management policies
and monitoring of operations. In addition, the Board discusses and makes decisions
concerning matters specified in the Articles of Association, the Code, and other applicable
laws. To fulfill these roles, the candidates for Directors shall be persons of superior
characteristics and insight who have high expertise in business & financial management,
accounting, quality, production, or the Company’s business operations.
CHANGES ON THE BOARD
Mr. Hironobu Yoshimura, Executive Director and President & CEO was replaced by Mr. Takafumi
Koike on April 01, 2022. Mr. Kazunori Shibayama, Director was replaced by Mr. Gaku Nakanishi
and Mr. Katsumi Kasai, Executive Director was replaced by Mr. Shinobu Nakamura in regular
annual rotations by Honda Motor, Japan on May 17, 2022, and July 01, 2022, respectively. The
Board acknowledges the valuable contributions made by the outgoing Directors and welcomes
the new members on the Board.
ROLES AND RESPONSIBILITIES OF CHAIRMAN & CEO/ PRESIDENT
To promote a culture of transparency and good governance, the positions of the Chairman of
the Board of Directors and the office of the Chief Executive Officer are held by separate
incumbents with clear demarcation of roles and responsibilities. The Chairman represents the
nonexecutive directors of the Board and is entrusted with the overall supervision and
direction of the Board’s proceedings, and has the power to set the agenda, give directions,
and sign the minutes of the Board meetings. The Chief Executive Officer is an executive
director who also acts as the head of the Company’s Management. He is authorized to
implement the Board’s policies within delegated limits besides other responsibilities.
DIRECTOR’S REMUNERATION
In terms of requirements of the Listed Companies (Code of Corporate Governance) Regulations,
2017 (the Code), the Company has formulated a policy namely “Remuneration Policy for
Executive & Non-Executive Directors”, which deals with the remuneration of the Directors.
The system of remuneration for Directors is designed to enhance their motivation for
improved business performance, both over the short term and medium to long term with
sustained growth of corporate value. The Executive Directors are paid monthly remuneration
and benefits as approved by the Directors, whereas the Company does not pay remuneration to
Non-executive Directors, except for advisory and meeting fee.
AUDIT COMMITTEE
The Audit Committee is composed of four members, including Independent and Non-Executive
Directors. The Chairman of the Audit Committee is an Independent Director. The Committee
quarterly reviews the appropriateness of resources and authority of this function. The Head
of Internal Audit functionally reports to the Audit Committee which approves the audit plan,
based on an annual and quarterly assessment of the operating areas. To respond to the
entrustment of the shareholders, the Audit Committee reviews the audit reports, internal
control systems, and financial statements and performs other duties of the Committee as
prescribed by the laws and regulations, with the aim of ensuring sound and sustainable
growth of the Company. Reporting is required whenever there is an item that has a major
impact on the Company. The internal auditors review the department processes to ensure
compliance with the policies, regulations, and SOPs of the Company. The Internal Audit
Division directly reports to the Chairman Audit Committee.
HUMAN RESOURCE & REMUNERATION COMMITTEE
The Human Resource and Remuneration Committee consists of five members, the majority of whom
are non-executive directors. The Chairman of the Committee is an independent director. The
Committees provides strategic guidance to the management on human resource, review the
annual performance evaluations, personnel policies, and compensation & benefits for the
associates.
CORPORATE GOVERNANCE
The Company strives to enhance corporate governance as one of the most important tasks for
its management, based on the Company’s basic principles, to strengthen the trust of its
shareholders, customers, and society. The Board always encourages timely, decisive, and
risk-considered decision-making; seeks sustainable growth and the enhancement of corporate
value over the mid-to-long term; and becomes “a company that society wants to exist.” To
clearly segregate the supervisory and execution function of management and to enable prompt
& and flexible decisions, the Company has an Audit Committee, a Human Resource and
Remuneration Committee, and an Executive Committee which allows broad delegation of the
business execution authority to the Executive Officers.
COMPLIANCE
To improve compliance culture, the Company has nominated a Compliance Officer designated by
the Board of Directors. The Compliance Officer makes decisions regarding important internal
control system measures including formulation and amendment of compliance policies. In
addition, the responsibilities of the Compliance Officer encompass confirming the status of
the establishment and operation of internal control systems to appropriate management of the
Business Ethic Proposal Line and deciding measures to prevent recurrences when any breach
transpires. For matters of compliance that are of particularly high importance, deliberation
or reporting at a meeting of the Executive Committee is carried out depending on the details
of the matter. There were no such violations of laws or regulations in the year under
review.
HONDA CODE OF CONDUCT
To earn the trust of customers and society for sustainable growth, we must not only comply
with laws & regulations but go beyond those legal structures by practicing sincere and
ethical conduct. Recognizing this, the Company has formulated the Honda Code of Conduct. It
summarizes the sincere behavior to be practiced by the people working at Honda around the
world. The Company works to instill the Honda Code of Conduct in every associate through
actions such as training, the distribution of leaflets, the publication of in-house
newsletters, and posting of information on its intranet. This year, the Company conducted a
comprehensive written test on the Honda Code of Conduct. More than 85% of associates
participated in the test with an understanding level of 92%.
BUSINESS ETHICS PROPOSAL LINE
The Company has established the Business Ethics Proposal Line as a structure to improve
corporate ethics. This hotline addresses issues that compromise corporate ethics through
violation of laws or internal rules. This allows the Company to accept proposals and provide
consultation, from a fair and neutral standpoint, for associates who face barriers in
improving or resolving issues at the workplace. In addition, this hotline responds to
inquiries about the internal rules hen questionable actions have occurred and engages in
fact evaluation related to such cases. Proposals are accepted by email, letter, telephone,
or drop-box from all associates and business partners. We ensure the protection of the
proposers and anonymous proposals are also accepted.
INITIATIVES TO PREVENT BRIBERY AND CORRUPTION
The Company strictly prohibits bribery and corruption. The Honda Code of Conduct requires the
Company to comply with the laws & and regulations. The Code states, “As an independent
corporate entity, the Company maintains appropriate relationships with political entities
and administrative entities and will interact in an appropriate manner in compliance with
laws, regulations & Company policies and will not offer entertainment or gifts (both
monetary and non-monetary) that are prohibited by laws, regulations, and company policies.”
Moreover, the Code stipulates that the associates will not receive from or provide to
business partners benefits in the form of goods (both monetary and non-monetary) or
entertainment beyond what is generally considered appropriate by society. In addition to the
above, the Company also has established the Honda Policy on the Prevention of Bribery and
Corruption. It stipulates basic policy about bribery & and corruption and the Honda
Guideline for the Prevention of Bribery and Corruption specifies compliance and prohibited
items. The reinforcement of the policy is ensured through training, emails of any policy
change, and through the Company’s intranet. The Company has also trained the trainer,
division-wise, on Honda Policy on the Prevention of Bribery and Corruption which are able to
give further training to associates in their respective division.
ESTABLISHING AN EFFECTIVE RISK MANAGEMENT STRUCTURE
The Risk Management Policy aims at driving the Company’s sustainable growth and stabilizing
management based on the Honda Philosophy. It targets all the risks having a potential impact
on the operations of the Company. The Company has developed a risk management framework
which is headed by the Risk Management Officer. The risk assessment activities are carried
out by each Business and Functional Division. The purpose of these activities is to foresee
potential risks surrounding the business and to respond beforehand to mitigate these risks.
Each department performs risk evaluation by using the common risk items and the assessment
criteria to identify the priority risks of each Division. The Company-wide priority risks
are identified by the Risk Management Officer after due deliberation over the risk status of
each operation. The concerned division then includes such risk items in its business plan
for continuous monitoring, improving the situation, and risk mitigation. During the year,
the Company arranged a special four-day training program at Punjab Emergency Services 1122
academy to develop an Emergency Response Team. The objective of this training was to respond
appropriately to disasters/emergencies like fire incidents, earthquakes, floods, etc., and
provide necessary “First Aid” treatment to victims of disaster before shifting to hospitals.
The trained staff of the Company is now part of “Volunteers” of Rescue 1122 and can extend
their services to the community accordingly. This team also participated in the “Annual
Volunteers National Contest” this year and its performance, as beginners, was much
appreciated by the higher management of 1122 Rescue
INFORMATION MANAGEMENT
To protect the information assets, including confidential & personal information, the Company
has adopted the Global Confidentiality Policy (GCP) and the Global IT Security Policy
(GITSP). These policies stipulate a systematic response structure and compliance items for
handling confidential & personal information along with security standards. information
systems and networks. They also specify the line of reporting in the event of any
information leakage. While effectively applying these policies, the Company has set up the
Confidentiality Committee to ensure timely response to changes. Besides strengthening
activities to ensure information security against increasingly sophisticated and complex
cyberattacks, the Company continuously monitors its capability of immediately responding to
the events that must be addressed.
PERSONNEL MANAGEMENT
Honda believes that human beings are born as free and unique individuals with the capacity to
think, reason, create – and the ability to dream. The Company wishes to nurture and promote
these characteristics by respecting individual differences, trusting each other as equal
partners, exercising abilities to the fullest and sharing joy. From this standpoint, the
Company adopts Respect for the Individual as one of the Company’s ‘Fundamental Beliefs’. The
Company follows the ‘Three Principles’ of Personnel Management, specifically Respecting
Initiative, Ensuring Fairness and Encouraging Mutual Trust, when managing its human
resources in areas such as recruitment, training, assignment, evaluation and treatment. The
Company always seeks to create an environment which supports to develop abilities and
ambitions of associates and provides them with a workplace where these skills may actively
be exercised. During the year, three associates, from the Management cadre, attended
“International Training Program” organized by AOTS in Japan. As a part of Asia & Oceania
Exchange Expatriate Program, two associates were seconded to Thailand for a couple of years.
Further, for enhancement of managerial skills, one-year Executive Diploma in Management
Excellence (EDME) from LUMS was attended and successfully completed by three associates. The
fourth batch of twenty associates has been enrolled in Forman Christian College Lahore for a
one-year “Diploma of Business Management (DBM)”, In addition, various public and customized
programs from LUMS, PIM, PSTD, and other prominent institutes and trainers were organized
for associates with a focus on growth and evolving business needs.
OCCUPATIONAL HEALTH AND SAFETY
The Company always endeavors to build a safe and secure work environment for associates.
Under the fundamental safety principle of “no safety, no production”, the Company seeks to
realize a work environment that brings joy to the people working with a true sense of safety
& security. Based on this principle, the Health & Safety Division has established basic
policies for preventing industrial accidents and their recurrence, as well as ensuring the
health of associates. During the year, all associates went through mandatory annual medical
checkups, and necessary precautions were taken in case of any deviation from standard health
parameters. The Company continued to focus on the health of associates in the controlled
pandemic environment. All workstations & lunch tables were protected, and where needed, the
work-from-home protocols and E-meetings were observed. The Company obtained certification of
ISO 45001 (Occupational Health and Safety Management System) without any major observation,
despite the first attempt. The Company has been taking various measures to upgrade the fire
safety system on the premises. It includes adding new fire safety fixtures, improving
existing installations, and conducting firefighting drills for associates. This year HACPL
has also conducted Fire Fighting Drill to coup the situation in future.
