This is the modern slavery and human trafficking statement of NSK Europe, being NSK Europe Limited and all its UK subsidiaries and affiliated companies (the "NSK Europe Group") for the financial year ending 31st March 2021.
The Modern Slavery Act 2015 creates offences in respect of slavery, servitude, forced or compulsory labour and human trafficking. Respect for human rights, the prohibition of child labour and prohibition of forced labour (Modern Slavery) remains a serious issue in global society. We all have a responsibly to be alert to the risks, however small, in our business and in the wider supply chain. NSK Europe is committed to combatting all such forms of modern slavery.
The NSK Europe Group is wholly owned by NSK Ltd, Japan. NSK Europe Limited has its head office in the UK with manufacturing, engineering, sales and distribution facilities/companies in the UK and across Europe, the Middle East and Africa. The UK subsidiaries additionally covered by this statement are NSK Bearings Europe Limited, NSK UK Limited and NSK Precision UK Limited.
NSK products and solutions are everywhere where something is moving – often deployed under the hardest of conditions. Our high precision roller bearings and ball bearings are spinning away in wind turbines and machine tools, our linear systems are hard at work in production lines, while our automotive products are to be found in vehicles from just about every major auto manufacturer.
OUR SUPPLY CHAINS
Our manufacturing base and supply chains include the sourcing of raw materials and components on a global basis.
OUR POLICIES ON MODERN SLAVERY
We are committed to ensuring that there is no modern slavery in our supply chains or in any part of our business. Our Ethics Policies and Supplier CSR Guidelines reflect our commitment to acting with integrity in all our business relationships and to implementing and enforcing effective systems and controls to ensure modern slavery is not taking place anywhere in our supply chains.
DUE DILIGENCE PROCESSES FOR MODERN SLAVERY
As part of our initiatives to identify and mitigate risk:
SUPPLIER ADHERENCE TO OUR VALUES
We expect all those in our supply chain to comply with our values.
To ensure a high level of understanding of the risks of modern slavery in our supply chains and our business, we provide training to relevant members of staff using the NSK E-Learning facility.
We are taking the following steps to measure how effective we have been in ensuring that our policies in respect of human rights, the prohibition of child labour and prohibition of forced labour have been implemented in our business and supply chains:
This statement is made pursuant to section 54(1) of the Modern Slavery Act 2015. It has been adopted by NSK Europe Ltd and all NSK Europe Group companies in the UK as their respective slavery and human trafficking statement for the financial year ending 31st March 2021.
Approved by the Board of Directors, 11th January 2022
Dr Ulrich Nass, Chief Executive Officer
NSK Europe Limited
At NSK Europe, we are committed to maintaining the highest ethical standards, behaviour and compliance in everything we do, wherever we are. We operate a zero-tolerance approach to improper business conduct of any sort and it is our intention to work only with suppliers and business partners who share this belief.
Values matter and our Code of Ethics sets out Principles which are key to our company culture and which everyone working for, or on behalf, of NSK Europe is required to follow to ensure we operate ethically and legally.
Our five principles; Fair, Honest, Respectful, Loyal and Responsible define the standards we expect. We also expect that those who act on our behalf maintain the same high ethical standards. Here are those principles:
Being Fair means treating our colleagues, customers, suppliers, and others fairly and transparently at all times.
Being Honest means acting with honesty and integrity at all times, ensuring we operate within all applicable laws, regulations, and rules, wherever we are.
Being Respectful means being considerate of the people and environment we work with, treating others with dignity and respect, never discriminating and being professional at all times.
Being Loyal means being trustworthy in all of our dealings and protecting the assets and information of NSK and others. We want our colleagues, customers, suppliers, and others to take pride in working for and with NSK, ensuring their actions never compromise our reputation.
Being Responsible means doing the right thing and Speaking Up if we see something wrong or Seeking Guidance if we are not sure about a situation or decision we are about to make. At NSK, we encourage an open and transparent speak up culture and take a zero-tolerance approach to retaliation against anyone raising a genuine concern, even if found to be mistaken.
Our Code of Ethics principles are designed to guide us in our everyday business with NSK, whether facing difficult decisions or new challenges. Together, we should all act ethically and responsibly in everything we do for ourselves, NSK and others.