Three years have passed since we launched the Materiality. Significant changes have since emerged in social problems our businesses face in tandem with the rapid developments in society and the transformation of our businesses. Considering the environment surrounding us, we have decided to review the Materiality as we formulate a Transformation Business Plan, an improved version of the medium-term management plan announced in 2020. Moreover, we have set specific targets for the Materiality issues, based on "backcasting", further integrating sustainability and business promotion.
Identification and Review of Materiality Issues
We have decided on three key focus areas. Based on internal discussions and suggestions from outside experts, we had discussions at management level, reviewed the Materiality and set targets. We will proactively inform our stakeholders of our progress in setting Materiality targets and engage with them in a responsible manner.
- Redefine the corporate groupās vision.
- Examine the direction of the Transformation Business Plan considering social changes that will affect the sustainable development of both society and the Company, and through our Corporate Philosophy āBenesse = Well-Beingā, our group purpose to realize it, and "backcasting" from society in 2028 and beyond. As the first step in achieving the plan, we have focused on being a corporate group overwhelmingly committed to solving social problems by putting people first.
- Clarify points of emphasis.
Determine the key points in the Materiality to achieve the group purpose and the goals of the Business Transformation Plan.
- Corporate Philosophy āBenesse = Well-Beingā and Group Purpose.
- Social issues faced by people at each stage of life, which we identified by "backcasting" from the future society of 2028 and beyond.
- Implementing conscientious management that reflects expectations that companies should contribute to the sustainability of society.
- Hypothesize materiality.
- Hypothesize the Materiality by closely examining the importance of the social problems identified in step 2 for each life stage and considering societyās expectations of the Company.
- Discuss at management level.
- Discuss at the Executive Committee, chaired by the CEO and comprising executive officers, and at the Sustainability Promotion Committee, chaired by the Managing Executive Officer and comprising the CEO, internal directors and executive officers.
- Dialogue with stakeholders.
- Have dialogues with experts, NPOs and others based on the hypothesis, confirming expectations and requests to the Group from other outside parties and reflect them in the review process.
- Consider targets.
- Set up goals in line with the Transformation Business Plan based on the Materiality.
- Approval by the Board of Directors.
- Discuss and approve at the board meeting following discussion at the Management Committee and other meetings.