2023
TS TECH
Integrated ReportExternal Recognition and Selection as a Constituent in Indices As of March 31, 2023

The automobile industry is in the midst of a major transformation.
The conventional concept of an automobile
as a means of transport is changing,

CDP Climate Change Report 2022, Japan edition
Selected as a company with a “Managementlevel” score of B

CSR Companies
Rankingby Toyo Keizai Inc.

233

1,702 ﬁrms

ESG Companies
Ranking byToyo Keizai Inc.

170

1,702 ﬁrms

requiring new value for the time spent in the cabin space of vehicles.
What can TS TECH do at such a time?

The value of our existence lies in the TS TECH Philosophy,
which doesn’t change over time.
As “A company dedicated to realizing people’s potential,
a company sincerely appreciated by all,”

Selected as a constituent stock for an index in whichweighting is determined by evaluating the levels ofenvironmental information disclosure and carbon
eﬃciency (carbon emissions per unit of sales)

Selected as a constituent of the Index, which
was designed to measure the performanceof Japanese companies with high ESG scores

Selected as a constituent stock for the MSCIJapan Empowering Women (WIN)* Select Index
which selects Japanese companies withoutstanding gender diversity from each industry

Note: The inclusion of TS TECH Co., Ltd. in any MSCI index, and the use of MSCI logos, trademarks, service marks, or index names herein do not constitute a sponsorship,endorsement, or promotion of TS TECH Co., Ltd. by MSCI or any of its aﬃliates. The MSCI indices are the exclusive property of MSCI. MSCI and the MSCI index names andlogos are trademarks or service marks of MSCI or its aﬃliates.

we have always pursued products thatbring a smile to customers’ faces by making
the most of the abilities of each and every employee.

The value we create will always keep changing
as we continue to deliver excitement like never before to the world,
but the essence of who we are will never change.
We will continue meeting the challenge of endless possibilities
to make the mobility of the future freer and more enjoyable.

Bringing joy tosociety through thepower of people

On the Publication of TS TECH Integrated Report 2023
We have been publishing an integrated report since ﬁscal 2012 to allow shareholders, investors, and other stakeholders to gain a deeper understanding of how the TS TECH Group creates value over the medium to long term.
In this integrated report, our twelfth, we have provided an introduction to our value creation process forachieving sustainable growth together with society based on our corporate philosophy, “A company dedicated torealizing people’s potential, a company sincerely appreciated by all,” which we have consistently communicatedthroughout each of our previous reports. We have also introduced our initiatives aimed at achieving the 15thMedium-Term Management Plan, which started in April 2023, and our 2030 Vision.
To continue creating new value and achieve further corporate growth in the automobile industry, which is experiencing a major transformation, we must not only pursue the technologies we have cultivated over the years inareas such as safety, comfort, and attractiveness. Also essential are the power of our people to advance thesetechnologies and deliver them to society, business operations conducted in harmony with the environment andsociety, and a solid corporate foundation with thorough governance. To realize ESG management, the TS TECH
Group is moving forward with various measures while incorporating the opinions of stakeholders, including shareholders, customers, outside directors, employees, and others.
As the Executive General Manager of the Corporate Administration Division with overall responsibility for theproduction of the integrated report, I hereby state that the process used to prepare the report is reasonable andthat the information it contains is accurate. We hope that in addition to dialogue with stakeholders in the course of
our business activities, the report will help you to better understand the TS TECH Group. Going forward, we willcontinue to value dialogue with stakeholders. We are committed to enhancing the disclosure of information interms of both quantity and quality, so please feel free to give us your candid opinions.

Shigenobu Ono

Operating Oﬃcer
Corporate Administration Division Executive General Manager,
Oﬃcer in Charge of Public Relations

TS Integrated
TECH Integrated
TS TECH
ReportReport
2023 2023 1129

TS TECH Philosophy

Vision Statement

INDEX

A company dedicated to realizing
people’s potential
A company sincerely appreciated by all

Mission Statement2TS TECH Integrated Report 2023

TS TECH Integrated Report 2023

November 2023
Printed in JapanTS TECH
Integrated Report

04 About TS TECH

39	Information Disclosure Based on TCFD
Recommendations

Our Group’s Envisioned Future

42 Environmental Initiatives

14	Review of the 14th Medium-Term
Management Plan

About the Report’s Formats

2023

38	Working to Build a Sustainable World

12 Identified Material Issues and 2030 Targets• ‌We should make our workplace a vibrant one, valuing
consensus and communication.
• ‌Work should be done in accordance with the circumstances,with importance placed on time and priorities.
• ‌We must always challenge ourselves to create new value by
leveraging our passion and know-how.
• ‌Each of us should always persevere to make our individualvision a reality.

Integrated Report

03 Index

10 2030 Vision

Operational Directives

The TS TECH Group has been issuing the “TS TECH Report,” an integrated report thatincludes both financial and non-financial information, since 2012, and changed its
name to the “TS TECH Integrated Report” in fiscal 2021. In this report, we will continue to introduce the Group’s stance as an enterprise and the efforts it is making tocontribute to sustainability in the course of its business in order to be a company
sincerely appreciated by all and whose presence is valued by all of its stakeholders.

ESG Management

06 Message from the President

We shall provide comfortable,
high-quality products at competitive prices
to our customers worldwide,
always pursuing the infinite
possibilities in manufacturing.

Editorial Policy

02 TS TECH Philosophy

TS TECH Website
Non-Financial Information
CSR Activities
Provides qualitative and quantitative information related
to environmental, social, and governance (ESG) factors.
https://www.tstech.co.jp/english/csr/
Financial Information
IR Information
Provides consolidated financial summaries, results
announcements, etc.
https://www.tstech.co.jp/english/ir/

46	Initiatives for Respecting Human Rights
47 Supply Chain Initiatives
50 Human Resources Strategy
52 Corporate Governance
60	Messages from Outside Directors

16	Outline of the 15th Medium-Term
Management Plan

Fact Book

18 Financial Strategies

64 Index

Value Creation Story

65 Financial Reporting122	Financial/Non-Financial Information

22 Value Creation Process
24	Corporate Development and Engineering
Officer Interview
28 TS TECH’s Value Chain

128 Corporate Data
129	On the Publication of TS TECH Integrated
Report 2023

36 Stakeholder Engagement

Scope of the Report
While the report is based on the consolidated group (TS TECH Co., Ltd. and its domestic and overseas subsidiaries and affiliates), some data regarding environmental
and social initiatives, etc., may pertain to aggregate results for the non-consolidated
company in Japan. Cases in which the scope of aggregation differs will be specified
in the text.

Reference Guidelines• ISO 26000:2010 standard, International Organization for Standardization (ISO)• International Integrated Reporting Framework, IFRS Foundation• Guidance for Collaborative Value Creation 2.0, Ministry of Economy, Trade andIndustry (METI) of Japan• Global Reporting Initiative (GRI) Sustainability Reporting Standards, etc.

About the Report’s Designations“TS TECH Group” (the Group) signifies the consolidated group, while “TS TECH” (thecompany) signifies the non-consolidated company in Japan.

Disclaimer
This report contains forward-looking statements from TS TECH Co., Ltd. pertaining toplans, forecasts, strategies, and results. These forward-looking statements are basedon currently available information.

Term Covered
Fiscal 2023 (April 1, 2022–March 31, 2023)
Note: Select activities from before or after this term may be included.

TS TECH Integrated Report 20233