CSR Core Categories
CSR Core Categories, Priority Themes and Main Targets
In line with the announcement of “VISION 2022”, we revised the CSR core categories and priority themes as presented below and also set main targets including new key performance indicators for fiscal 2022 in a way to link them to VISION 2022, instead of setting separate targets for each fiscal year.
We aim to further increase our net sales by 20% from the current level to 3.6 trillion yen under VISION 2022. It is actually challenging to set and declare quantitative CSR targets amidst accelerating market changes. Still, with the recognition that CSR activities are one of the two key components of our management strategy and are essential to becoming a Glorious Excellent Company, the ideal state of our group, we will enhance our efforts to meet the targets.
In the process of selecting the categories and themes, we focused on the two key aspects of “materiality for society” (level of expectation from society) and “materiality for the Sumitomo Electric Group” (contribution to problem solution and contribution to growth of the Group). We also referred to CSR guidelines and had interviews with managers in the divisions of the Company to prepare a draft plan, which was revised repeatedly through discussions in the CSR Committee. Then, the final plan was approved to eventually decide the new categories and themes.
* Accident score
An accident score is calculated by weighting the accidents that have occurred by type.
Class 1: Accidents that can result in a serious accident (forklifts, hoist cranes, rotating parts, moving parts, etc.); Class 2: Accidents caused by an edged tool, jig or device; and Class 3: Falling accidents, collides while walking, backache, etc.
* CSV: Creating Shared Value
CSV is a concept advocated by Michael E. Porter, an American academic specialized in corporate competitive strategies, as a framework for the business strategy that aims to balance the economic activities of companies to gain profits with the creation of social value.