The Nisshinbo Group strives for sustainability initiatives and has received evaluations and certification from Japan and overseas ESG evaluation organizations.
Status of ESG Index Inclusion
Nisshinbo Holdings Inc. has been selected for inclusion in Japan and overseas ESG indexes.
MSCI ESG RATINGS
MSCI ESG Research assigns MSCI ESG ratings to globally listed companies and some unlisted companies. Ratings assess industry-specific ESG risks and management relative to peers, which range from AAA (first-mover) to CCC (second-mover).
SOMPO Sustainability Indexes
This index is used for "SOMPO Sustainable Management," a responsible investment product for pension funds and institutional investors managed by SOMPO Asset Management Co., Ltd., which invests in companies with strong environmental, social, and governance (ESG) ratings. The brands are reviewed annually based on the results of the Bunano Mori (Beech Forest) Environmental Questionnaire and the ESG Management Survey conducted by the company.
The Six ESG Indices Used by the GPIF
FTSE Blossom Japan Sector Relative Index
The FTSE Blossom Japan Sector Relative Index constructed by FTSE Russell, a global index provider, is designed to be sector neutral with indices reflecting the performance of Japanese companies that are relatively good for environmental, social, and governance (ESGs) responses in each sector. In addition, to promote the transition to a low-carbon economy, particularly for companies with high greenhouse gas emissions, only the companies that are evaluated for their improvement efforts based on TPI management quality scores are included.
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FTSE Russell (the trading name of FTSE International Limited and Frank Russell Company) confirms that Nisshinbo Holdings Inc. has been independently assessed according to the FTSE Blossom Japan Sector Relative Index criteria, and has satisfied the requirements to become a constituent of the FTSE Blossom Japan Sector Relative Index. Created by the global index provider FTSE Russell, the FTSE Blossom Japan Sector Relative Index is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE Blossom Japan Sector Relative Index are used by a wide variety of market participants to create and assess responsible investment funds and other products. |
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FTSE Russell (the trading name of FTSE International Limited and Frank Russell Company) confirms that Nisshinbo Holdings Inc. has been independently assessed according to the FTSE Blossom Japan Sector Relative Index criteria, and has satisfied the requirements to become a constituent of the FTSE Blossom Japan Sector Relative Index. Created by the global index provider FTSE Russell, the FTSE Blossom Japan Sector Relative Index is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE Blossom Japan Sector Relative Index are used by a wide variety of market participants to create and assess responsible investment funds and other products. |
MSCI Japan ESG Select Leaders Index
The MSCI Japan ESG Select Leaders Index is constructed by selecting companies with relatively superior ESG ratings within the industry sectors from among the constituents of the index (MSCI Japan Equity IMI Index), and comprehensively grasping the risks related to ESG.
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THE INCLUSION OF NISSHINBO HOLDINGS INC. IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT OR PROMOTION OF NISSHINBO HOLDINGS INC. BY MSCI OR ANY OF ITS AFFILIATES. |
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THE INCLUSION OF NISSHINBO HOLDINGS INC. IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT OR PROMOTION OF NISSHINBO HOLDINGS INC. BY MSCI OR ANY OF ITS AFFILIATES. |
MSCI Japan Empowering Women Index (WIN)
Nisshinbo Holding was selected for inclusion in the MSCI Japan Empowering Women Index (WIN), an ESG index developed by MSCI Corporation of the United States. The MSCI Japan Empowering Women Index (WIN) is a stock price index developed by MSCI (USA) for ESG investments. The index is constructed from data on gender diversity based on the Act on Promotion of Women's Participation and Advancement in the Workplace and corporate disclosures.
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THE INCLUSION OF NISSHINBO HOLDINGS INC. IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT OR PROMOTION OF NISSHINBO HOLDINGS INC. BY MSCI OR ANY OF ITS AFFILIATES. |
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THE INCLUSION OF NISSHINBO HOLDINGS INC. IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT OR PROMOTION OF NISSHINBO HOLDINGS INC. BY MSCI OR ANY OF ITS AFFILIATES. |
S&P/JPX Carbon Efficient Index
This index is one of the ESG indices selected by GPIF (Pension Investment Fund Incorporated Administrative Agency). It is a universe of TOPIX, which is a representative stock price index showing trends in the Japanese market. The index determines the weight of constituent stocks by focusing on the status of disclosures of environmental information and the level of carbon efficiency.
FTSE JPX Blossom Japan Index
This index consists of Japanese stocks selected on the basis of the FTSE Russell’s ESG scores with a focus on companies with high ESG ratings and a balanced sector allocation. Since 2017, the index has provided clear ESG criteria that market participants and companies can use for stewardship and engagement activities.
Please refer to the FTSE official website at the URL below.
https://www.lseg.com/en/ftse-russell/indices/blossom-japan
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FTSE Russell confirms that Nisshinbo Holdings Inc, has been independently assessed according to the index criteria, and has satisfied the requirements to become a constituent of the FTSE JPX Blossom Japan Index. Created by the global index and data provider FTSE Russell, the FTSE JPX Blossom Japan Index is designed to measure the performance of companies demonstrating specific Environmental, Social and Governance (ESG) practices. The FTSE JPX Blossom Japan Index is used by a wide variety of market participants to create and assess responsible investment funds and other products. |
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FTSE Russell confirms that Nisshinbo Holdings Inc, has been independently assessed according to the index criteria, and has satisfied the requirements to become a constituent of the FTSE JPX Blossom Japan Index. Created by the global index and data provider FTSE Russell, the FTSE JPX Blossom Japan Index is designed to measure the performance of companies demonstrating specific Environmental, Social and Governance (ESG) practices. The FTSE JPX Blossom Japan Index is used by a wide variety of market participants to create and assess responsible investment funds and other products. |
Morningstar Japan Equity Gender Diversity Tilt Index (excluding REITs)
This stock index is calculated by adjusting the weightings of constituent stocks based on an assessment of gender diversity among Japanese companies. The index covers Japanese equities, excluding REITs, and is designed to increase investment exposure to companies that actively promote women’s advancement and diversity while minimizing deviations from the broader market; therefore, the index is used for corporate evaluations and investment decisions from an ESG perspective.
External Ratings and Evaluation of the Nisshinbo Group's ESG Activities
CDP 2025 Rating
Nisshinbo Group
Nisshinbo Holdings Inc. discloses environmental information through CDP. In 2025, the Group responded to climate change, water, and forest issues, and received a "B" rating (management level) for climate change and water, and a "C" rating (awareness level) for forest issues.
Every year, CDP uses a fair method to evaluate companies based on factors such as disclosure comprehensiveness, environmental risk recognition and management, and goal setting, assigning them an eight-tier score (A, A-, B, B-, C, C-, D, D-).
CDP is an international environmental non-profit organization established in the UK in 2000. It collaborates with more than 700 financial institutions with assets exceeding US$142 trillion to operate a global environmental information disclosure system. Specifically, in response to requests from investors, companies, governments, and other entities around the world, CDP sends questionnaires on environmental issues to companies, provides an information disclosure platform, and score and analyzes the responses.
In 2025, more than 23,100 companies worldwide disclosed data through their CDP responses. CDP scores are widely used in investment and procurement decisions through the CDP website and reports to achieve net-zero and a sustainable and resilient economy.
The Nikkei Sustainable Comprehensive Survey "The 7th Nikkei SDGs Management"
Nisshinbo Group
In the overall rankings of the 2025 Nikkei Sustainable Comprehensive Survey "The 7th Nikkei SDGs Management", which rates and evaluates companies on their ability simultaneously to improve corporate value and contribute to the SDGs, Nisshinbo Holdings Inc. was awarded a 3.5 stars rating.
The Nikkei Sustainable Comprehensive Survey consists of questions in four areas: SDG strategy/economic value, social value, environmental value, and governance. This program evaluates companies on the basis of 18 evaluation indicators that assess the efforts to resolve social, economic, and environmental issues through business activities and contribute to the enhancement of corporate value. This is the sixth time the program has been conducted. In 2025, the 7th year of the survey, 830 companies participated in the survey, including companies listed on Japanese exchanges.
The Toyo Keizai CSR Company Rankings
Nisshinbo Group
In its latest assessment of CSR, the 2026 CSR Company Rankings, Toyo Keizai Inc. (hereafter, Toyo Keizai) rated Nisshinbo Holdings Inc. highly for the various initiatives being deployed by the Group. Toyo Keizai awarded the Group a ranking of AAA on human resources utilization, environment, corporate governance and a ranking of AA on social services.
Conducted annually since 2005 by Toyo Keizai, the CSR Corporate Rankings draw on survey results to select a list of "trusted companies" from the perspectives of both corporate social responsibility (CSR) and finance, which are becoming increasingly complex. This 2026 CSR Company Ranking is the 20th.
The Certified Health and Productivity Management Organization Recognition Program 2026
Nisshinbo Holdings Inc., Japan Radio Co., Ltd., Nagano Japan Radio Co., Ltd., JRC Logistics Service Co., Ltd., NJ Components Co., Ltd., Ueda Japan Radio Co., Ltd., KOKUSAI DENKI Electric Inc., Nisshinbo Micro Devices Inc., Nisshinbo Micro Devices Fukuoka Co., Ltd., Nisshinbo Micro Devices AT Co., Ltd., Nisshinbo Brake Inc., Nisshinbo Mechatronics Inc., Nisshinbo Chemical Inc., Nisshinbo Textile Inc.
Under the Certified Health and Productivity Management Organization Recognition Program, designed by the Ministry of Economy, Trade and Industry and selected by the Japan Health Council, 10 companies in the large corporation category*1 (including one company listed in the "White 500") and 4 companies in the small and medium-sized corporation category*2 as Certified Health and Productivity Management Organizations 2026.
*1 Nisshinbo Holdings Inc., Japan Radio Co., Ltd., Nagano Japan Radio Co., Ltd., Ueda Japan Radio Co., Ltd., KOKUSAI DENKI Electric Inc. (White 500), Nisshinbo Micro Devices Inc., Nisshinbo Brake Inc., Nisshinbo Mechatronics Inc., Nisshinbo Chemical Inc., Nisshinbo Textile Inc.
*2 JRC Logistics Service Co., Ltd., NJ Components Co., Ltd., Nisshinbo Micro Devices Fukuoka Co., Ltd., Nisshinbo Micro Devices AT Co., Ltd.
Kurumin Certification as a Childcare Support Company
Nisshinbo Holdings Inc., Japan Radio Co., Ltd., Nagano Japan Radio Co., Ltd., KOKUSAI DENKI Electric Inc, GOYO ELECTRONICS CO., LTD.
Kurumin Certification is a system to certify companies that meet certain requirements, such as formulating and implementing action plans to help employees balance work and child care, as a company that supports child rearing, based on the Act on Advancement of Measures to Support Raising Next-Generation Children. Nisshinbo Holdings Inc., Japan Radio Co., Ltd., Nagano Japan Radio Co., Ltd. Nagano Japan Radio Manufacturing Co., Ltd. KOKUSAI DENKI Electric Inc, and GOYO ELECTRONICS CO., LTD. have been certified by the Minister of Health, Labor and Welfare (Kurumin certification).
(Certification logo acquired by Nagano Japan Radio Co., Ltd.)
Certified As "Eruboshi" As A Company That Promotes Women's Activities
Nisshinbo Micro Devices Inc., Japan Radio Co., Ltd.
The "Eruboshi Certification" is a system to certify companies that meet certain requirements based on the Law for the Promotion of Women's Activities, such as formulating and implementing an action plan for the promotion of women's activities, and being excellent in indicators such as the ratio of female employees, status of continuous employment, working hours and other working styles, ratio of managers, and diverse career paths. The certification levels for Eruboshi are divided into three stages based on the number of criteria met out of the five certification criteria. The certification is awarded in order from the lowest level, which meets the fewest criteria, to the highest level, which meets the most criteria: Eruboshi (First Level), Eruboshi (Second Level), and Eruboshi (Third Level). Additionally, organizations that meet certain requirements may be awarded Platinum Eruboshi Certification.
Nisshinbo Micro Devices Inc. has received the third level of certification (Eruboshi certification) as determined by the Minister of Health, Labor and Welfare. Japan Radio Co., Ltd. has received the second level of certification (Eruboshi certification).
