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).
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THE USE BY NISSHINBO HOLDINGS OF ANY MSCI ESG RESEARCH LLC OR ITS AFFILIATES ("MSCI") DATA, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT, RECOMMENDATION, OR PROMOTION OF NISSHINBO HOLDINGS BY MSCI. MSCI SERVICES AND DATA ARE THE PROPERTY OF MSCI OR ITS INFORMATION PROVIDERS, AND ARE PROVIDED ‘AS-IS' AND WITHOUT WARRANTY. MSCI NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI. |
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THE USE BY NISSHINBO HOLDINGS OF ANY MSCI ESG RESEARCH LLC OR ITS AFFILIATES ("MSCI") DATA, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT, RECOMMENDATION, OR PROMOTION OF NISSHINBO HOLDINGS BY MSCI. MSCI SERVICES AND DATA ARE THE PROPERTY OF MSCI OR ITS INFORMATION PROVIDERS, AND ARE PROVIDED ‘AS-IS' AND WITHOUT WARRANTY. MSCI NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI. |
Four ESG indices adopted by 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.
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.
External Ratings and Evaluation of the Nisshinbo Group's ESG Activities
CDP 2024 Rating
Nisshinbo Group
Nisshinbo Holdings Inc. discloses environmental information through CDP. In 2024, 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 2024, more than 24,800 companies, accounting for over 66% of global market capitalization, disclosed data through CDP, including more than 2,100 companies in Japan, comprising over 70% of Prime Listed Companies. 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 6th Nikkei SDGs Management"
Nisshinbo Group
In the overall rankings of the 2024 Nikkei Sustainable Comprehensive Survey "The 6th 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 four-star 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. This year, the 6th year of the survey, 887 companies participated in the survey, including companies listed on Japanese exchanges.
The Nikkei Sustainable Business Survey, "The 8th Nikkei Smart Work Management"
Nisshinbo Group
Nisshinbo Holdings Inc. was recognized with a 3.5-star rating in the overall assessment of the "Seventh Nikkei Smart Work Management Survey," which selects advanced companies that are accepting the challenge of a productivity revolution through work-style reforms.
This survey has been conducted by Nikkei Inc. since 2017. The survey defines smart work management as a management strategy that aims to maximize corporate value by accelerating investment in human resources and maximizing the use of human resources through improvements in employee well-being, thereby generating new innovation and improving productivity. The survey is evaluated on a five-star scale. In 2024, 830 companies, including domestic listed companies, participated in the survey.
The Toyo Keizai CSR Company Rankings
Nisshinbo Group
In its latest assessment of CSR, the 2025 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 2024 CSR Company Ranking is the 19th.
SOMPO Risk Management the "Buna no Mori" Environmental Questionnaire 2024
Nisshinbo Group
Nisshinbo Holdings Inc. received an overall rank of A in the evaluation results of the "Buna no Mori" Environmental Questionnaire 2024 conducted by Sompo Risk Management Inc.
The Buna no Mori Environmental Questionnaire analyzes and evaluates the status of a company's environmental management efforts. In order to evaluate companies based on the characteristics of each industry, the best-in-class method is used to select companies with relatively superior initiatives within each industry. Companies are classified into 27 unique industry categories based on the 33 industry categories of the TSE, and their environmental management is evaluated on a relative basis within each industry category. The top 25% of companies in each industry with relatively excellent environmental management systems are given an A ranking, companies in the 25th to 75th percentile are given a B ranking, and companies in the 75th percentile or lower are given a C ranking. Companies that score below a certain level or that have been downgraded due to scandals are given a D rank. In the Sompo Japan Green Open fund (nicknamed "Buna no Mori"), companies ranked A to C are considered as candidate stocks for investment.
Selected as a "Zero Emissions Challenge Company" by METI
Nisshinbo Holdings Inc., Japan Radio Co., Ltd., Nisshinbo Chemical Inc.
In collaboration with Keidanren, the New Energy and Industrial Technology Development Organization (NEDO), and the Ministry of Agriculture, Forestry and Fisheries (MAFF), METI is working on the Zero Emissions Challenge project, which lists the companies that are accepting the challenge of innovation aimed at achieving 2050 carbon neutrality and which provides investors with useful information.
The following initiatives were highly evaluated, and each of the initiatives selected as Zero Emissions Challenge Companies by the Ministry of Economy, Trade and Industry of Japan: Technology Development Project for Social Implementation of Marine Biodegradable Plastics by Nisshinbo Holdings Inc.; Project for Realization of Energy-Saving Society with Robots and Drones by Japan Radio Co. Ltd.; and Industry-Academia-Government Collaboration Problem-solving Research and Development Project about Advancement of Fuel Cells, etc. Technologies and Utilization Project by Nisshinbo Chemical Inc.
The Certified Health and Productivity Management Organization Recognition Program 2025
Nisshinbo Holdings Inc., Japan Radio Co., Ltd., Nagano Japan Radio Co., Ltd., JRC Logistics Service Co., Ltd., Nagano Japan Radio Manufacturing 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, ten companies in the large corporation category*1 (including one company listed in the "White 500") and five companies in the small and medium-sized corporation category*2 as Certified Health and Productivity Management Organizations 2025.
*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., Nagano Japan Radio Manufacturing 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., Nagano Japan Radio Manufacturing 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., Nagano Japan Radio Manufacturing Co., Ltd., 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. and Nagano Japan Radio Manufacturing Co., Ltd. have 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).
