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Sustainability VisionSustainability Management
Linking social and economic values to build a better future for society and business
The concept of finding harmony between economic growth and a better society has long been advocated and passed down in Japan, as symbolized by the teachings from The Analects and the Abacus* and “Companies are public institutions of society.”** On the occasion of the NKC Group’s 100th anniversary, we have returned to these foundational principles and formulated a new medium-term (three-year) sustainability management plan oriented on the future. This is NKC Sustainability Vision 2024.
* A title of a book written by Eiichi Shibusawa who is called “Father of Modern Japanese Economy”
** A saying of Konosuke Matsushita, founder of Panasonic Corporation
Fundamental Approach to Sustainability Management
Becoming an indispensable company to society through sustainability management as Happo-Yoshi (business beneficial to all)
There was a time when phrases like “for the sake of society and the environment” were often dismissed as idealistic or as a form of atonement. However, the impact of solely economic activities on society and the environment has reached an undeniable level, leading to a renewed understanding that the economy fundamentally relies on the foundation of society and the environment. In such times, it is crucial to aim for mutual prosperity and coexistence with all stakeholders, as illustrated below, rather than focusing solely on our own company. Through Happo-Yoshi sustainability management, the NKC Group aims to become an indispensable company for society.
NKC Sustainability Vision 2024 (New Three-Year Medium-Term Plan)
Transforming into a company committed to solving social issues through integrated sustainability and business strategies
From 2021 to 2023, the NKC Group has been guided by the slogan “building a corporate culture that faces social issues,” engaging in a variety of activities. This period can be seen as a time when we embedded the SDGs (Sustainable Development Goals) and the concept of ESG*—which connects the SDGs to growth strategies from a corporate perspective—into the company, much like installing “application software.” In our new medium-term plan, NKC Sustainability Vision 2024, starting from fiscal 2024, we aim to take another leap forward and transform into a company dedicated to solving social issues. We will integrate our ESG-based sustainability strategy into our core business strategy, treating it as an integral part of our “operating system.”
* Environment, Social and Governance
Measuring Sustainability in Numbers
Visualizing/quantifying hard-to-see ESG-related elements to generate synergy between solutions for society and our growth strategy
While business strategies are often discussed in terms of quantitative and financial metrics (such as sales and profits), sustainability strategies typically involve qualitative and non-financial aspects (which are harder to quantify monetarily). This has been a major reason why integrating and merging the two has been challenging. Therefore, it is essential to make various hard-to-see elements in the ESG domain as visible and quantifiable as possible,* including both positive and negative aspects. By doing so, we can create a foundation that makes it easier to incorporate social value into business strategy decision-making. Under this vision, the NKC Group will align the vectors of solving social issues and the company’s growth strategy to create synergy, thereby contributing even more to the realization of a sustainable society.
* For example, CO2 emissions in carbon neutrality
Internal Promotion Framework
To plan, deliberate, and decide on strategies related to sustainability management, we have established the Sustainability Review Committee, composed of senior management members. In addition, to ensure the steady implementation of initiatives, we have appointed Sustainability Officers and Sustainability Leaders who work in collaboration with the Sustainability Strategy Division under a unified framework.
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NKC Group CSR Procurement Guidelines
NKC Group (the Company), having established its Corporate Vision of “NKC strives to be a company that is constantly evolving and whose employees always have pride in working,” regards its suppliers as important partners in achieving this vision.
The Company will continue to promote procurement activities along with its suppliers based on the NKC Group Procurement Policy, with the aims of providing products and services that meet customer expectations and contributing to the realization of a sustainable society.
