Policies concerning labor practices are raised in the "Softbank Human Rights Charter," and we maintain various systems directed at the promotion of appropriate labor practices. Moreover, policies concerning wages, working hours, and other labor standards are translated into various languages so that they can be understood by all employees working in Japan and overseas.
We respect the freedom of association and the right of collective bargaining as employee rights and accept the effective exercise of these rights. SoftBank has signed a labor agreement with the labor union. In order to engage in constructive discussions between labor and management, we host labor-management consultations and committee meetings between the representatives of the labor union and management to improve various systems and regularly exchange opinions about the management environment in addition to discussions about wages, lump-sum payments, and occupational safety and health.
Moreover, in order to create a strong organization and improve organizational motivation regardless of whether it is in the telecommunications business or a new business, we survey the level of employee satisfaction every year for the purpose of assessing the current situation and identifying issues. The evaluation is based on the personnel composition and placement within the organization, the risk that excessively long working hours may occur, and other perspectives. In the event that a significant risk is discovered, corrective measures such as verifying the organizational framework and personnel situation as well as countermeasures and the adjustment of working hours are implemented.
During fiscal 2019, one labor-related compliance violation was discovered at SoftBank Corp. The violation concerned an employee being made to work outside of the time period stipulated by the so-called "Article 36 agreement" on overtime and holiday work. The Article 36 agreement on overtime and holiday work was revised with respect to this violation and improved after submission to the Labor Standards Inspection Office.
SoftBank strives to pay industry-competitive wages which go beyond compliance with the legal minimum wage and exceed a living wage. When it comes to deciding remuneration, we comply with the laws in each region and set a standard* for the starting wage of new graduates which greatly exceeds the national weighted average amount of the regional minimum wage.
As a company which has signed the United Nations Global Compact, SoftBank Corp. has announced its support for the freedom of association and the effective approval of the right of collective bargaining, the abolition of forced labor, the discontinuation of child labor, and the elimination of discrimination with respect to employment and occupation. In addition, we are strengthening initiatives directed at appropriate labor practices through opportunities for proactive information exchange with external entities.
In the past, we have conducted continuous exchanges with the human resource departments of leading companies in various industries. In particular, since 2017 we have exchanged mutual opinions about labor problems and considered measures through jointly hosted workshops regarding labor practices. The information obtained was fed back into the company to be utilized in the promotion of appropriate labor practices.