CSR Policy

CORPORATE SOCIAL RESPONSIBILITY POLICY OF CASIO INDIA CO., PRIVATE LIMITED

TABLE OF CONTENTS

  1. CONTEXT
  2. OBJECTIVES
  3. FOCUS AREAS
  4. CONSTITUTION OF CSR COMMITTEE
  5. CSR BUDGET
  6. IMPLEMENTATION PROCESS
  7. SURPLUS OF CSR PROJECTS
  8. CSR THROUGH REGISTERED TRUST, SOCIETY, OTHERWISE
  9. MONITORING AND REVIEW MECHANISM

1. CONTEXT

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 our social, environmental and economic impact to enable it to contribute to the society’s wider goal of sustainable development.

CIC aims to demonstrate our responsibility through its actions and within its corporate policies.

2. OBJECTIVES

  1. To lay down guidelines to make CSR a key business process for sustainable development of the society. Ensuring the implementation of CSR initiatives in letter and spirit through appropriate procedures and reporting.
  2. To directly/indirectly undertake projects/programs which will enhance the quality of life and economic well-being of the communities across country and society at large.
  3. Establishing guidelines for compliance with the provisions of the Act and dedicate a percentage of CIC's profits for social projects.

3. FOCUS AREAS

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.

4. CONSTITUTION OF CSR COMMITTEE

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:

  1. To formulate and recommend to the Board, a CSR Policy indicating activities to be undertaken as specified in prescribed Schedule VII of the Act;
  2. To recommend the amount of expenditure to be incurred on the activities referred to in clause (a);
  3. To monitor the implementation of CSR Policy from time to time.

5. CSR BUDGET

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.

6. IMPLEMENTATION PROCESS

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:

  1. CSR programme shall be undertaken by CIC with the defined focus areas.
  2. The time period/duration over which a particular programme will be spread, will depend upon its nature, extent of coverage and intended impact of the programme.
  3. CIC shall enter into partnership with charity partners, non-government organizations and other communities to implement its CSR policy.
  4. CIC may use the services of expert agencies or consultants, wherever required for carrying out the CSR policy.

7. SURPLUS OF CSR PROJECTS

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

8. CSR THROUGH REGISTERED TRUST, SOCIETY, OTHERWISE

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.

9. MONITORING AND REVIEW 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.

The CSR Committee shall submit its report on a 6 (six) monthly basis to the Board of Directors formed under the Act which shall monitor the CSR policy of CIC from time to time.

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.

10. EFFECTIVE DATE

This policy is effective from April 1, 2016.

11. CONTACT

For queries related to this policy please write to us at csr@casio.co.in.