The Nisshinbo Group believes that only by listening to customers, stockholders, employees, and the other stakeholders involved with the Group as stipulated in VALUE and gaining their understanding and trust will the Group be able to achieve sustainable growth and enhance its corporate value over the medium to long term. The Group takes a variety of opportunities to deepen communication with all stakeholders and works to resolve issues.
The Nisshinbo Holdings' Basic Policy on Communication with stakeholders is stipulated in "Nisshinbo Corporate Governance Policy" III-1-(1).
Stakeholder Engagement Initiatives
Third-Party Opinion
Continuing to meet the expectations and needs of the Nisshinbo Group's stakeholders, the Group received feedback from outside experts regarding their assessment of the Nisshinbo Group's sustainability efforts, as well as their expectations and requests of the Group.
Takeshi Shimotaya
Managing Director, Sustainavision Ltd.
I hereby express my opinion as a third party about the Nisshinbo Group's sustainability initiatives based on the information provided in the Nisshinbo Group Sustainability website and related reports.
In FY2024, the Nisshinbo Group continued to focus on further promoting and implementing sustainability management, which advanced company-wide initiatives under a unified direction based on the Group's philosophy. In particular, the number of companies participating in the global survey and the total number of participants have increased, and the percentage of positive responses regarding the implementation of corporate philosophy and action guidelines improved, indicating that efforts to strengthen employee engagement are steadily progressing.
In terms of the environment, significant results have been achieved in reducing greenhouse gas emissions. Scope 1+2 emissions were reduced by 55% compared to FY2014, which showed progress that greatly exceeded the target for FY2024. In addition, the Nisshinbo Group made progress in decarbonizing its entire value chain by achieving a 32% reduction in Scope 3 emissions from the previous year. Furthermore, Nisshinbo reduced water consumption per sales by 78% compared to FY2014, and its CDP rating improved from "B-" to "B." These achievements are highly regarded.
Moreover, it is impressive that each site and group company is promoting autonomous improvements in resource conservation initiatives, biodiversity conservation activities, and chemical substance management, and is steadily exceeding the quantitative targets.
In the social sphere, the Nisshinbo Group continues to promote due diligence based on its human rights statement, and specific measures are progressing, such as the development of the education and internal reporting systems. In addition, the Group is engaged in a wide range of initiatives aimed at enhancing corporate value, including employee health management, prevention of occupational accidents, quality improvement, and strengthening intellectual property.
On the other hand, there are areas where there is room for improvement. The proportion of electricity derived from renewable energy sources decreased from 21% in FY2023 to 16% in FY2024; similarly, the amount of such electricity purchased also showed a decreasing trend. Additionally, cases have been reported where targets for the proportion of sales allocated to the products that contribute to the development of sustainable society or promote Life Cycle Assessment (LCA) have not been met, which highlight the need for strengthened efforts in the market expansion of sustainable products.
Furthermore, such factors as a year-on-year decline in the utilization rate of annual paid leave and inadequacies in the Business Continuity Planning (BCP) system for the procurement supply chain indicate that human capital and supply chain management will require close attention as potential risk factors for future sustainability.
Overall, the Nisshinbo Group continued to promote balanced sustainability management in the areas of the environment, society, and governance in FY2024 particularly with significant progress made in efforts to reduce environmental impact and employee engagement. Going forward, I expect to see more effective initiatives, including an analysis of the causes of unmet targets and clarification of countermeasures as well as the spread of sustainability throughout the entire supply chain.
Takeshi Shimotaya
Managing Director, Sustainavision Ltd.
Joined a major heavy industry manufacturer in 1991 and was responsible for human resources, general affairs, recruitment, training, payroll, labor negotiations, occupational health and safety, etc. in the plant management department. After setting up a new business in the environmental sector (new energy and R.P.F. manufacturing), moved to the UK in 2007.
Holds a Master of Environmental Science from the University of East Anglia, UK, and an MBA from Lancaster University, UK.
In 2010, he established Sustainavision Ltd. in the UK to serve as a sustainability bridge between Japan and Europe.
Based in London, Sustainavision Ltd. provides sustainability consultancy, training, seminars and related research to Japanese companies.
President, Japan Sustainable Restaurant Association Founder, The Global Alliance for Sustainable Supply Chain.