Operating in a sustainable and responsible manner is important for all. Whilst Casio India Co., Private Limited (“CIC’’) runs its business in line with the expectations of its customers and other global stakeholders, it also takes its Corporate Social Responsibility (‘’CSR’’) earnestly. CIC is committed to understanding, managing and monitoring its social, environmental and economic impact to enable it to contribute to the society’s wider goal of sustainable development.
CIC aims to demonstrate its responsibility through its actions and within its corporate policies.
In accordance with the requirements of the Companies Act, 2013 (‘’Act’’), the CSR activities at CIC, amongst others, will focus on:
(I) CSR IN SKILL DEVELOPMENT: Promotion of education, including special education (such as music education) and employment enhancing vocational skills especially among children, are now the forefront of CIC’s operating philosophy and as a result the Company shall consistently focus on education of children including the education of differently abled.
(II) CSR IN ERADICATING HUNGER, POVERTY AND MALNUTRITION: Treatment and prevention of hunger, malnutrition and poverty, promotion of health care including preventive health care, sanitation (including contribution to the Swach Bharat Kosh set-up by the Central Government for the promotion of sanitation) and providing safe drinking water.
(III) CSR IN CONTRIBUTION TO PRIME MINISTER’s NATIONAL RELIEF FUND: Contribution towards socio-economic development and relief and welfare of the Scheduled Castes, the Schedules Tribes, other backward classes, minorities and women.
(IV) CSR IN ENSURING ENVIRONMENTAL SUSTAINABLITY: To contribute towards conservation of natural resources and to protect the world's irreplaceable natural capital—biodiversity and the air, water and soil for future generations.
(V) *CSR IN CONSUMER AWARENESS AND PROTECTION ACTIVITIES: Earmarking CSR funds for consumer awareness and protection activities. The Company shall focus on consumer education on various issues including without limitation against unfair trade practices and educating the customer on fake, counterfeit and sub-standard products.
Keeping in line with Section 135 of the Act, the Board of Director of CIC have a CSR Committee headed by the Managing Director, to inter alia, carry out the following function:
a. To formulate and recommend to the Board, a CSR Policy indicating activities to be undertaken as specified in prescribed Schedule VII of the Act;
b. To recommend the amount of expenditure to be incurred on the activities referred to in clause (a);
c. To monitor the implementation of CSR Policy from time to time.
In accordance with the requirement of the Act, CIC shall endeavor to spend during the current financial year at least 2% of its average net profits made during the immediate three preceding financial years.
The surplus, if any, arising out of the CSR projects or programs or activities shall not form a part of the business profit of CIC and will be ploughed back into the CSR activities only.
The Board of Director of CIC may decide to undertake CSR activities approved by the CSR Committee, through a registered trust or a registered society or a company established by CIC or its holding or subsidiary or associate company under section 8 of the Act or otherwise, provided that:
i) If such trust, society or company is not established by CIC or its holding or subsidiary or associate company, it shall have an established track record of 3 (three) years in undertaking similar programs or projects.
ii) CIC has specified the project or programs to be under taken through these entities, the modalities of utilization of funds on such projects and programs and the monitoring and reporting mechanism.
The administration of the CSR policy and the execution of identified CSR projects, programs and activities under it shall be carried out under the overall superintendence and guidance of all the CSR Committee members.
Further, any or all provisions of the CSR policy would be subject to revision/amendment by the Board of Directors of the Company based on recommendations of the CSR Committee or else in accordance with the guidelines as may be issued, from time to time.
This policy is effective from April 1, 2016.
*Addition to this policy made effective from May 15, 2019