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Materiality
Materiality
To drive our sustained growth, we have identified Materiality (priority issues) for FY2021 based on our Purpose.
We have established systems to make progress on the materiality issues, and are further advancing individual initiatives by setting KPIs.
- Diversity & inclusion
- Fullfilling workplace environment
- Talent attraction and development for value creation
- Respect for human rights
- Co-creation with stakeholders
- Generating innovation
- Products/services which continue to solve social issues
- Fair business practices
- Resilient business foundation
- Co-existence with the Environment
Materiality promotion system
We have established a promotion department for each materiality and are stepping up our initiatives accordingly. Furthermore, the ESG General Meeting, headed by the President, consists of the Environmental Policy Board Committee that takes the lead on environmental topics, the Brand Management Committee that handles social topics, and the Compliance Committee, which handles governance. Each is chaired by the President or an Executive Vice President. The "Materiality Promotion Working Group," which reports directly to the ESG General Meeting, conducts materiality efforts and manages KPIs in cooperation with the ESG General Meeting and the promotion department for each materiality.
The 6th Mid-term Materiality Targets
- The missing parts of the table can be viewed by sliding the cursor to the side.
Extent of Coverage
- YKK AP (non-consolidated)
- YKK AP Group (Japan)
- YKK AP Group (Japan and overseas)
- The FY2024 plan is the mid-term plan developed in FY2021
The approach to identifying materiality issues and the identification process
To identify materiality issues, we began with our company's Purpose that we established in 2021. The Purpose consists of three key elements:
- The "Human Resource" to support sustainable growth, indicated by "the spirit of curiosity and exploration,"
- The resolution of social issues through products and the "Monozukuri" at its source, indicated by "art and technology" and "architectural products of true value,"
- "Trust / Reliance" to fulfill our social responsibility, indicated by "connecting people to nature and the future."
With these elements as the core, we added a "management perspective" related to sustainable business growth and a social perspective related to sustainable social development.
For the management perspective, we extracted themes with high impact on our business from the business policy. For the social perspective, we analyzed the importance to each of the stakeholders and extracted materiality issue candidates. And from the candidates extracted from these perspectives, we selected the most important ten items as our materiality issues.
How we derived social perspectives
To derive "social perspectives" we analyzed the following four stakeholder perspectives. Since we are an unlisted company, we referred to employee surveys as data that includes investor perspective and Priority topics disclosed to the Sustainability Accounting Standards Board (SASB).
Priority issues from the results of the employee survey
We analyzed the employee survey conducted in FY 2020 and learned that employees desire action on the following issues.
- Positive & fulfilling work environments
- Human resources systems
- Diversity
- Human resources development
Priority issues for business partners
We chose priority issues raised by our main business partners and estimated the importance of each priority issue.
Issues estimated as important to business partners
- The environment
- Solving social issues through products
- Compliance
- Health and safety
- Supply chains
- Human resources development
- Innovation
- Human rights
- Diversity
- Resilience
- Community
- Data security
- Consumer issues
- Communication
International proirity issues from the perspective of global risk
We identified seven items that are both highly likely to develop and high in impact from the 2021 edition of the Global Risk Report issued by the World Economic Forum.
(Seven items listed at right with colors corresponding to each risk)
Priority issues in our business field according to SASB
Perspectives of ESG investors are reflected in the disclosure standards for non-financial information by the Sustainability Accounting Standards Board (SASB) based in the U.S.A. We have mapped out the levels of the priority issues in each business field and identified the issues to emphasize in our business.
Reviews by board members
January through May 2021
Considered materiality with focus on the Purpose discussed by employees and officers and formulated by resolution of the Board of Directors. Possible choices were submitted for subsequent deliberation and resolution by the Board of Directors.
June 2021 onward
The "Materiality Promotion Working Group" is under the direct control of the "ESG General Meeting," headed by the President, to promote and manage KPIs for the materiality that we have drawn up.