Tackling difficulties to ensure the sustainability of society
Currently, the COVID-19 coronavirus pandemic is putting lives and livelihoods of people at risk and is seriously threatening the basis of society. Recently, a series of natural disasters have occurred, such as serious flooding, drought, bushfires, and earthquakes, causing serious damage. I hope that people facing difficulties can return to living with peace of mind as soon as possible.
A variety of activities, such as the population explosion and the expansion of economic activities, have greatly disrupted the balance of the global environment, directly or indirectly causing those natural disasters. Looking at the social lives of people, inequalities such as poverty, the education gap, access to healthcare, and the gender gap are seen here and there. Behind the handful of wealthy people, there are those whose human rights are disregarded.
We are standing on the precipice of our destruction by involving the global environment. Many people have been aware of this, resulting in the adoption of the Sustainable Development Goals (SDGs) by the United Nations. Nations, governments, businesses, a variety of organizations, and individuals have begun thinking, discussing, and acting based on SDGs, which has given us a chance to survive with the earth.
Probably, this choice will lead us to tread a thorny path. We will have doubts, want to give up, and have setbacks, time and again. However, by gathering wisdom and moving forward together, I believe that we can secure sustainability for the global environment and humanity and give our descendants a future.
Incorporating SDGs as the basis of our corporate activities, leading them to our specific actions
At the Toyo Ink Group, we formulated the Scientific Innovation Chain 2027 (SIC27) in 2018 as a new long-term corporate vision that describes how we should be in 10 years (in 2027.) Under this vision, we have expanded the target of our Corporate Policy, “a company that contributes to the enrichment of life and culture,” from consumers to every life and the global environment, so as to work actively to solve a variety of social issues to become a corporate group that contributes to realizing a world where all targets share vibrant lives.
We have set sustainable growth as the concept of the Toyo Ink Group in the future, which will continue sustainable growth until 2096, when it will celebrate the 200th anniversary, and beyond, and with its corporate activities contributing to the sustainable growth of society. We have also integrated SDGs proactively into the base of our ideas for taking specific actions based on this concept.
Now, we are implementing SIC-I, the first medium-term management plan under SIC27. Under SIC-I, 2018 to 2020 are positioned as a period for laying the foundation for sustainable growth, and we are implementing successive measures for achieving transformation.
Above all, concerning our business activities, we have clarified 12 SDGs that are strongly related to those activities. Based on these, we have defined 11 domains in the three fields of science, that is, Life, Communication, and Sustainability as orientations in solving social issues by providing value through business. Therefore, we clarified the basic direction of the Toyo Ink Group's business activities.
Linking our management strategy with CSR activities to create value which contributes to solving issues
For our CSR activities, we have formulated five material issues that we should solve to achieve sustainable growth as the concept of SIC27, based on communication with our stakeholders. We are promoting activities to solve those issues. We have clarified the relevance of each material issue with SDGs. We have also set key performance indicators (KPIs) and targets for fiscal 2020 (when SIC-I will be completed.) Therefore, we focus on CSR activities through three-year PDCA cycles as we do for our medium-term management plans while seeking to link the activities to our management strategy.
Above all, for Material Issue 1, “Provide Value that Exceeds Customer Expectations and Contribute to Society,” which we have put at the top of the list as a manufacturing company, we have achieved results that lead to the improvement of sustainability in society through our actions of providing combinations of our products and values that contribute to solving social issues.
An example of such actions is our suggestion of a “recycling system for plastic containers and packaging.” This system enables high-quality material recycling of plastic containers and packaging, which are non-industrial waste with low recycling rates. Instead of only developing and providing functional materials, we seek to provide value, such as the reduction of CO2 emissions, the cutting of plastic waste, and the curb of consumption of petrochemical materials, throughout all stages, from ones involving converters and food manufacturers to distribution, retailing, and waste disposal. Thus, we are taking this approach targeting the overall industry.
Our continuous corporate activities at the Toyo Ink Group have also produced certain results for other material issues. They include the reduction of CO2 emissions exceeding the target, the promotion of diversity, and initiatives for health and productivity management.
On the other hand, last year, we have caused great concern and trouble to many stakeholders due to inappropriate accounting at our overseas subsidiary and the delay in reporting our financial results for the first three quarters. We express our sincerest apologies. At present, we are reviewing and strengthening our governance and working on awareness reform, based on reports from the Special Investigation Committee.
In fiscal 2020, which is the final fiscal year under the SIC-I medium-term management plan, we implemented a new slogan: “Set priority targets with special emphasis on selection and consolidation and take actions which lead to achievements.” Under this slogan, we will work on business structural reform and reinforcement of the business structure to pave the way to SIC-II, the next medium-term management plan, with the following three basic policies.
- Strengthen cooperation with internal and external parties in businesses that we will expand aggressively, and invest in such businesses intensively.
- Implement structural reforms of businesses and areas by reducing cost and creating profit through integrated efforts by manufacturing, sales, and engineering departments.
- Take on challenges continuously to reorganize businesses.
We will also revise KPIs and targets by reviewing our CSR activities under SIC-I, in our efforts to improve the Group's CSR activities.
We will mobilize the intentions and capabilities of all Toyo Ink Group employees, who are fulfilling their daily duties in Japan and across the world, and continue to create value that enables us to contribute to the sustainable growth of society, aiming to realize “For a Vibrant World” (a word where all consumers, living beings and the global environment share vibrant lives) as the value provided by the overall Group.
(Excerpted from the CSR Report 2020)