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Our Material Topics

Non-financial metrics

We have set KPIs and targets that are linked to our material topics as non-financial metrics for VISION 2030. We aim to enhance our corporate value by effectively monitoring the financial and non-financial aspects of our management practice. For KPI, we have designated an officer or a general manager who is responsible for monitoring the progress, and each division manages these KPIs by incorporating them into their annual budgets and targets. In addition, the Corporate Sustainability Committee and the Company-wide Strategy Committee will review progress and related issues from the perspective of how progress toward KPIs each fiscal year will contribute to the achievement of non-financial targets for 2030 (consistency and appropriateness of KPI/target setting) and how efforts to achieve non-financial targets will contribute to the achievement of financial targets (relationship between financial and non-financial targets).

In the FY2023 review, the non-financial KPI related to the material topic "Stable production" was changed from "Implementation of advanced production technology centered on AI/IoT" to "Number of problems involving high-value losses." This was because it was judged that the relationship between "Stable production" and "Implementation of advanced production technology centered on AI/IoT" was difficult to visualize, and the results of the implementation of advanced production technologies in stable production were not clear.

Targets and Results

Contributing to a sustainable society

Non-financial KPIsBlue Value™ products sales revenue ratio
Responsible officerResponsible officer for Corporate Sustainability Division
FY2023 ResultsFY2024 OutlookFY2030 Target
24%26%40%
Non-financial KPIsRose Value™ products sales revenue ratio
Responsible officerResponsible officer for Corporate Sustainability Division
FY2023 ResultsFY2024 OutlookFY2030 Target
24%26%40%
Non-financial KPIsGHG emissions reduction rate (Scopes 1 and 2) *compared to FY2013
Responsible officerResponsible officer of the Carbon Neutral Strategy
FY2023 ResultsFY2024 OutlookFY2030 Target
25%27%40%

Prerequisites for business continuity

Safety

Non-financial KPIsIncidence of major accidents & serious occupational injuries
Responsible officerCenter Executive, Production & Technology Center
FY2023 ResultsFY2024 OutlookFY2030 Target
ZeroZeroZero
(over the course of VISION 2030)

Respect for human rights

Non-financial KPIsResponse to human rights risks
Responsible officerResponsible officer for Corporate Sustainability Division
FY2023 ResultsFY2024 OutlookFY2030 Target
  • Implemented human rights due diligence (on-site assessments overseas)
  • Established in-house working group
    • Implementation of human rights due diligence (reorganization of the risk assessment process)
    		Identification & correction of risks by setting up a human rights due diligence system for all of our bases, both domestic and abroad

    Compliance

    Non-financial KPIsIncidence of major legal and regulatory violations
    Responsible officerResponsible officer for Corporate Administration & Legal Division
    FY2023 ResultsFY2024 OutlookFY2030 Target
    2 casesZeroZero
    (over the course of VISION 2030)

    Product quality

    Non-financial KPIsIncidence of PL accidents & serious product quality incidents
    Responsible officerResponsible officer for RC & Quality Assurance Division
    FY2023 ResultsFY2024 OutlookFY2030 Target
    ZeroZeroZero
    (over the course of VISION 2030)

    Stable production

    Non-financial KPIsProduction and equipment reliability
    Responsible officerCenter Executive, Production & Technology Center
    FY2023 ResultsFY2024 OutlookFY2030 Target
    Advanced production technologies implemented: 14 instancesNo. of problems involving high-value losses: 8 or lessNo. of problems involving high-value losses: Zero

    Abilities essential to business continuity

    Corporate culture

    Non-financial KPIsImprovement of employee engagement
    Engagement score
    Responsible officerChief Human Resources Officer (CHRO)
    FY2023 ResultsFY2024 OutlookFY2030 Target
    36%38% or more50%

    Human capital

    Non-financial KPIsKey talent management
    Successor coverage rate for critical positions
    Responsible officerChief Human Resources Officer (CHRO)
    FY2023 ResultsFY2024 OutlookFY2030 Target
    220%235% or more250%
    Non-financial KPIsDiversity
    • Number of executive officers with diverse backgrounds (women, non-Japanese, and mid-career hires) *Mitsui Chemicals, Inc.
    • Ratio of women in management positions (manager-level or above)*Mitsui Chemicals, Inc.
    Responsible officerChief Human Resources Officer (CHRO)
    FY2023 ResultsFY2024 OutlookFY2030 Target
    • Diversity rate of future executives: 18.5%
    • 6%
    • Diversity rate of future executives: 20% or more
    • 7% or more
    • 10 or more (including at least 3 women)
    • 15%
    Non-financial KPIsHealth-focused management
    • Average rate of lifestyle-related diseases *Mitsui Chemicals, Inc.
    • Frequency of absences from work due to mental health disorders*Mitsui Chemicals, Inc.
    Responsible officerChief Human Resources Officer (CHRO)
    FY2023 ResultsFY2024 OutlookFY2030 Target
    • 9.96%
    • 0.69
    • less than 9.50%
    • less than 0.55
    • 8.0% or less
    • 0.25

    Digital transformation

    Non-financial KPIsTraining of DX specialists
    Number of data scientists
    Responsible officerChief Digital Officer（CDO）
    FY2023 ResultsFY2024 OutlookFY2030 Target
    72120 or more165
    (by FY2025)

    Innovation

    Non-financial KPIsPipeline expansion
    Number of development themes in the latter half of our Stage Gate System
    Responsible officerCenter Executive, R&D Center
    FY2023 ResultsFY2024 OutlookFY2030 Target
    Stage 1 themes registered: 48Percentage advanced to preliminary market development stage: 20% or moreDouble or more
    (vs. FY2020)
    Non-financial KPIsValue creation for beyond 2030
    Number of new areas of development at our Frontier Technology Center
    Responsible officerCenter Executive, R&D Center
    FY2023 ResultsFY2024 OutlookFY2030 Target
    3 candidateR&D themes: 5 or more3 or more areas

    Partnerships

    Non-financial KPIsSustainable procurement ratio
    Responsible officerChief Digital Officer（CDO）
    FY2023 ResultsFY2024 OutlookFY2030 Target
    Promotion of sustainable procurement
    Opinion exchange held with partners to build shared vision: 16 companies    		Dissemination to partners
    Briefings to explain procurement guidelines to key partners in each domain: 8 or more companies    		80%

    Reflection in Executive Compensation

    In FY2023, we revised the executive compensation system to reflect the non-financial metrics of VISION 2030 in executive compensation.

    The progress on these non-financial metrics is incorporated into the bonuses of responsible officers as the evaluation coefficient for performance of the division in charge. Additionally, to strongly encourage the achievement of non-financial metrics, we have selected particularly important non-financial indicators*, and their attainment levels are reflected in the bonuses of all directors and executive officers as an evaluation coefficient for non-financial indicators.

    * Particularly important non-financial indicators:

    Blue Value™ products sales revenue ratio, Rose Value™ products sales revenue ratio, GHG emissions reduction rate, incidence of major accidents, incidence of major legal and regulatory violations, and engagement scores

    Corporate Governance