Our Approach to Sustainability / Promotion Framework
Basic Concept
Our group has been conducting business using the sustainable material of iron until now. In addition to achieving sustainability through our business activities, we established the CSR Committee (currently the Sustainability Committee) in 2020 to further contribute to society by taking into account the impact of our Group on society. In 2019, our 75th anniversary year, we established our corporate philosophy, vision, and values & action guidelines. To achieve these goals and contribute to the realization of a sustainable society, we will identify issues that need to be addressed one by one and work together as a group to solve social issues.
Yamato Kogyo Group Corporate Philosophy "MISSION, VISION, Yamato SPIRIT"
Policy
Sustainability Policy
Under the mission of “Our Steel, Your Future,” Yamato Kogyo Group aims to create more value for an even richer society through our steel business. Based on this philosophy, we regard sustainability initiatives as an important management issue. We will support the development of each country and region and the future of its people, thereby contributing to the realization of a sustainable society through our business activities.
◆ Identification of Materiality and Promotion of Initiatives
To achieve sustainability management that balances the realization of a sustainable society with the sustainable growth and enhancement of the corporate value of our group, we have identified themes that we consider highly important for our group and stakeholders as materiality. Since materiality is an issue that should be prioritized as a medium- to long-term risk or opportunity, we incorporate it into our management strategy and Medium-term Sustainability Plan and put this policy into practice through our business activities.
◆ Our Sustainability Management
We define sustainability management as the "sustainable growth of a company while maintaining the environment and society, which are the foundation of our business" and are committed to the following points.
- To continue to be demanded by the market over the long term
We will maintain and improve our competitiveness and realize a sustainable society by fully assessing the market and business environment and responding promptly and appropriately based on future projections. - To maintain supply (raw materials, human resources, and intellectual property) over the long term
We will practice a circular economy through our recycling business, which utilizes steel scrap as a resource and revives it as new steel products.
We will develop human resources so that human resources with a diverse range of skillsets can work as “One Team” beyond race, age, or gender, and sustainably create high-added-value products and services.
As professionals in Steel and Trackwork business, we will further advance our manufacturing technologies in the Steel and Trackwork businesses to solve social and environmental issues and create economic value. - To be trusted by society
We will provide world-class products and services with the highest safety standards in mind.
We will be honest and maintain the highest level of ethical standards.
Sustainability Promotion Structure
In August 2020, our Group established the CSR Committee (currently the Sustainability Committee), which is chaired by the President and consists of directors, including independent outside directors, as Sustainability Committee members.
Under the Sustainability Committee, the environmental, social, and governance subcommittees will specifically promote our Group's sustainability initiatives, focusing on the themes outlined in the Medium-term Sustainability Plan, and will actively promote responses to risks and opportunities to support sustainable growth. In addition, we have established the Sustainability Committee Operating Rules to facilitate deliberations and decisions, and have established a secretariat to ensure a system for managing the status of sustainability activities.
The Sustainability Committee met three times in FY2023.
Sustainability Promotion Structure
Identifying Materiality
Materiality Identification Process
While each department in our Group has been identifying and addressing sustainability issues, we believe it is important to identify issues that should be prioritized by our Group, and have established the following top-priority themes (materiality).
Identified Materiality
Through the above process, we have identified the following materiality in the areas of environment and society. Governance is positioned as the foundation of corporate management.
Medium-term Sustainability Plan
About the identified materiality, we have set medium-term goals targeting FYE March 2026, as well as short-term annual targets to achieve these goals. Based on this plan, we will implement the PDCA cycle and promote the plan, as well as deepen the plan through deliberations by the Sustainability Committee.
Medium-term Sustainability Plan
Internal Understanding and Penetration
To foster awareness and enlightenment of social contribution, we aim to provide training for employees on sustainability in general, including social contribution, through the establishment of a methodical education system, and we have posted the Employee Code of Conduct on our intranet so that employees can always check whether the standards for their behavior are appropriate.
To promote understanding of sustainability, we provide training opportunities for management and supervisors by inviting external lecturers and participating in external seminars as necessary. We also provide awareness-raising activities through in-house newsletters and a video message from the president.