Sustainability in the Mitsui Chemicals Group
In response to global corporate sustainability issues indicated by SDGs and other initiatives, we aim to achieve the sustainable development of society and the Group through the following efforts.
- Seek business opportunities and strive to solve challenges through business activities
- Recognize future risks for the Group and uphold our corporate social responsibility
Aiming for “integration of financial and non-financial performance”
|Non-financial performance is||the foundation of financial performance:
Respond to “prerequisites for business continuity” and foster trust
|Non-financial performance||leads to the future of financial performance:
Improve “abilities essential to business continuity” and accelerate growth
|Non-financial and financial performance||mutually affect each other:
By “contributing to a sustainable society,” maximize profits
All non-financial KPIs were reviewed at the meeting of the Company-wide Strategy Committee, which was attended by all executive officers with specific titles, including the CEO. Opinions such as the following were raised and issues were recognized: “Non-financial targets cannot be achieved by functional divisions alone, and collaborations with business divisions are essential,” “KPIs should be the key factors that need to be controlled in order to realize the Group’s ideal vision,” and “The deductive causal relationships between KPIs should be shown.” Although we did not make any changes to our material topics or non-financial KPIs in fiscal 2022, management will continue to discuss them, taking into consideration that they will be reviewed as necessary.
We instructed all functional divisions to create a logic tree that visualizes the relationship between the non-financial metrics set by each division and their financial results.
This is because we wanted employees working on non-financial initiatives to have a sense of ownership, by reminding them that they are also responsible for enhancing corporate value on a financial level.
In addition, we wanted to encourage employees to have deeper discussions about the validity of the metrics and measures.
Consequently, we have achieved a certain level of results. For instance, some divisions considered reviewing their metrics after realizing that “there are some metrics that will not logically lead to financial results.”
We will continue to refine the logic tree in each division, dig deeper into the organic relationships between financial and non-financial metrics throughout the Group, and work to visualize them.
In April 2023, we renewed our risk management system, and we believe that material topics should be linked to key Group-wide risks.
We believe that through the process of identifying key Group-wide risks, we can conduct a multi-layered review of material topics and non-financial KPIs linked to them, thereby pursuing effective KPI management.