(Excerpt version)

Contents and Editorial Policy
Contents

Sustainability Activities Report

Contents and Editorial Policy

1

Overview of SJC Group3

Environment
Environmental Management Policy and

Top Message
5
SJC Group Sustainability

Management

29

Overall Environmental Impact

30

Environmental Activity Plans and Results

31

Reducing Greenhouse Gas Emissions

32

Biodiversity Conservation

33

Governance

SJC Group Philosophy and Corporate Codeof Conduct

11

Sustainability Policy and Promotion System

12

Materiality (Key Issues) and Strategies

13

Promotion Targets (KPIs) and Initiatives

14

Corporate GovernanceSpecial Features
Special Feature 1:
Solving Social Issues through Business

16

Special Feature 2:
Allowing Diverse Human Resources to Excel 21
Special Feature 3:
Addressing Climate Change Issues (TCFD)

24

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Sustainability Report 2023

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Contents and Editorial Policy
Editorial Policy

Scope of This Report

This report is intended to report on matters

Sekisui Jushi Corporation and consolidated

concerning the sustainability of the SJC Groupdomestic and overseas group companies

and to improve our initiatives further while* Material matters also cover group companies not mentioned
above.

communicating with all relevant stakeholders.
This report also serves as a corporate
introduction, reporting on the Group’s
philosophy, business activities, products, andother information.

Reference Guideline

Period Covered

In disclosing sustainability-related information,

FY2022the following reporting guidelines and· Domestic group subsidiaries:
From April 1, 2022 to March 31, 2023

frameworks are referenced.

· Overseas group subsidiaries:· Ministry of the Environment, Environmental

From January 1, 2022 to December 31, 2022

Reporting Guidelines (Fiscal 2012 Version)* Material matters also cover before and after FY2022.

· Ministry of the Environment, Environmental
Reporting Guidelines (Fiscal 2018 Version)· SDG Compass· TCFD (Task Force on Climate-related
Financial Disclosures)

Date of Publication

Disclaimer Regarding Forward-Looking
Statements

October 2023

All forward-looking statements in this report are

Department Responsible for Publication

based on information available at the time of
preparation, with no guarantees or promises as

General Affairs & Public Relations Department

to their accuracy or completeness, and are
subject to change due to future changes in thebusiness environment and other factors.

SEKISUI JUSHI GROUP

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Sustainability Report 2023

Overview of SJC Group
Business Domain
SJC Group is expanding its business in a wide range of public and private sectors through manufacturing,which contributes to safety, security, and environmental preservation by utilizing composite technologies.

Public Sector
31,891 million yen
Contribute to the creation ofsafe, secure, and beautiful
roads and cities

Private Sector

Consolidated
Net Sales
65,897 million yen(FY2022)34,006 million yen
Contribute to solving issues in
the residential environment,such as noise and privacy, as
well as issues in the logistics
and agri-fields, such as labor
shortages

Exterior Products Business

Urban Environment BusinessSound absorbing board,transparent board, advanced
modified sound absorbing board,
tunnel sound absorbing interiorboard, soundproof wall for bullet
train (transparent board, soundabsorbing board, sound absorbing
sound insulation board), etc.

Mesh fences, privacy walls,
soundproof privacy walls,
vertical lattice fences, bicycle
parking lots, railing products,
etc.

Traffic Environment-related Businesses

Material Handling Systems & Supplies

Road marking materials, roadsigns, signs, traffic safetymaterials, electronic systemproducts, etc.

Package strapping bands andfilms, packaging materials,
packaging machinery, safety
fences, etc.

Urban Landscaping Business

Agribusiness

Pedestrian protective fences,vehicle protective fences, windand snow protection fences, carstops, assembly sidewalks,railings, park materials, shelters,
solar-powered lights, artificial
wood, etc.

Agricultural materials, facility
gardening materials, wildlife
damage prevention equipment,
etc.

Sports Facility Products BusinessGroup Company Businesses

Non-fill artificial turf, artificial turf
field watering system, artificial turf
field high-speed drainage system,
natural material filler, etc.

Aluminum composite panels,
decorative construction
materials, ready-to-assemble
system pipes, digital picking
systems, automobile parts andrelated products, etc.

Group Company Businesses
Thermal insulation pavement,
concrete chip spalling protection
systems, road signs, signs,
signboards, road marking
materials, etc.

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Sustainability Report 2023

Overview of SJC Group
Financial and Non-financial Capital to Support Sustainable Transformation
Management capital that serves as the foundation for creating value and achieving sustainability in the SJCGroup

Human CapitalIntellectual Capital

Consolidated number of
employees (March 31, 2023)

1,282 employees

Manufactured Capital
Manufacturing sites

R&D expenses (FY2022)

985 million yen
Number of intellectual
property rights owned (*1)
(March 31, 2023)

Shiga Plant(Shiga Plant, Ryuo Plant, Kagami Plant)

Tsuchiura-Tsukuba Plant(Tsuchiura Plant, Tsukuba Plant,
Hiroshima Tojo Plant)

Ishikawa Plant

1,657

Other manufacturing sites of domestic andoverseas affiliates

Financial CapitalSocial Capital

Natural Capital

Equity (March 31, 2023)

Japan, Europe, andSoutheast Asia groupcompanies and supply chain

Energy consumption (FY2022)

110,009 million yen
Equity ratio (March 31, 2023)

78.9%

Communication withstakeholders

492 GJ (*2)(*1) Total patents, utility model rights, and design rights held(*2) GJ (gigajoule) = 1 billion times the unit of energy J (joule)

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Sustainability Report 2023

Top Message

Under our management policy of
Human Resources First, we willcontinue to support the futuresafety, security, and comfort ofpeople worldwide.
President and Representative Director,
Chief Executive Officer

Formulating a Long-term Vision

At SJC, we have clarified what we aim to be in 2030, and devised strategies
to achieve this.
Since our founding in 1954, SJC Group has been creating high-value products and services based on
our unique composite technologies and has responded to needs for reduction of traffic accidents,
disaster prevention and mitigation, and national resilience in both the public and private sectors. As amanufacturer, we are aware of our responsibilities and have been striving to conduct our businessactivities in an environmentally friendly manner.
Social issues, such as the intensification of natural disasters caused by climate change, have become
increasingly apparent and serious in recent years. In response to this situation, we at SJC Group haveformulated the SJC Group Vision 2030, aiming to become a corporate group that continues to help
solve new social issues as they emerge and remains indispensable to people for many years to come.
The Vision defines what we aim to be in 2030, which is the target year of the United Nations
Sustainable Development Goals (SDGs) and also coincides with the 75th anniversary of our Group.
Based on strategy determined by backcasting from that point, we will promote business model reformand new value creation.
In formulating our Vision, we have established three basic policies: maximize the value of humancapital, expansion through growth strategy, and promoting sustainability management, based on the
key issues (materialities) determined through discussions by the management board.
We will continue to maximize our Group’s integrated corporate strength to become a corporate groupthat continues to ensure the safety, security, and comfort of people worldwide.

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Sustainability Report 2023

Top Message

What We Aim to be in 2030 and Basic Policy

Basic Policy 1—Maximize the Value of Human Capital

We are committed to maximizing the strength of our human resources,
which constitute our most important management resource.
Human capital, which we have positioned as our most important management resource, or in essence,
capital that we view as human resources rather than labor, will be strengthened by actively promoting
effective investments that will lead to future development.
Our Group’s sustainable growth depends on the growth of our employees. This is the idea behind Human
Resources First, and we will review the structure and systems of each organization to ensure that current
human resources and future members of our Group can work together to achieve the same goals. By
creating an environment where employees can fully exercise their abilities in accordance with theirrespective aptitudes and expertise, we aim to achieve growth for both our employees and the Company.

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Sustainability Report 2023

Top Message
Basic Policy 2—Expansion through Growth Strategy

While continuing to develop our core business, we will leverage our key
technologies to take on new challenges in new areas.
Guided by the core values of safety, security, and comfort, we will accelerate our growth by strengthening
our core businesses and leveraging our key technologies to take on new challenges in new areas.
Accordingly, we have established seven priority areas based on the expected environmental changes by2030 and the challenges facing the Group.
The Company will focus on providing products andsolutions that contribute to the safety, security, andcomfort of future generations in these seven priority
areas, including development of acoustic control
technology, which we have long cultivated for soundproof
walls and other applications; products for disasterprevention and mitigation to cope with increasingly
severe natural disasters; construction of decarbonization
and recycling systems to help reduce environmental
impact; and road products for next-generationtransportation technologies such as automated driving
expected to be widely used in the future.

7 Priority Areas

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Top Message

Basic Policy 3—Promoting Sustainability Management

Our commitment to sustainability is our responsibility to future generations.
To ensure safety, security, and comfort for people
worldwide, it is a prerequisite that the global
environment and society remain healthy. SJC Group
views our commitment to sustainability as a
responsibility to future generations.
To achieve this goal, the Company has positioned
products that help solve various social issues,
including environmental problems, as products
contributing to sustainability and is stepping up thedevelopment of such products. The Company also
identifies risks and opportunities related to climatechange in accordance with the TCFD framework andassesses the impact on our business operations andrevenues. Moving forward, we will work as a Groupto address these issues by incorporating them into
specific management issues.

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Sustainability Report 2023

Top Message

Targets for 2030

We will establish quantitative targets, both financial and non-financial, andwork toward achieving them.
To ensure these basic policies and steadily
promote sustainability initiatives, in addition tofinancial targets, the Company will set KPIs for
non-financial areas such as human resources andthe environment and work toward these targets.
To all of our stakeholders, we ask for yourcontinued support and guidance as we strive forsustainable growth of the Group’s corporate
value.

SJC Group Vision 2030 is available on our website’s Corporate Philosophy and Vision page.
https://www.sekisuijushi.co.jp/corporate/philosophy/

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Sustainability Report 2023

SJC Group
Sustainability■ SJC Group Philosophy andCorporate Code of Conduct■ Sustainability Policy and Promotion
System■ Materiality (Key Issues) and
Strategies■ Promotion Targets (KPIs) andInitiatives

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Sustainability Report 2023

SJC Group Philosophy and Corporate Code of Conduct

SJC Group Corporate Philosophy
The aim of the Sekisui Jushi Group is to contribute to a safer, more secure and healthierenvironment for society by creating valued products and services, through the application ofcomposite technology.

Code of Conduct shared by all Group executives and employees,
based on the Corporate Philosophy

SEKISUI JUSHI GROUPCORPORATE ACTION GUIDELINE
Sekisui Jushi Group is developing its business based on the management philosophy of ‘The aimof the Sekisui Jushi Group is to contribute to a safer, more secure and healthier environment forsociety by creating valued products and services, through the application of composite
technology.’
With this Management Philosophy, we establish the following Corporate Action Guideline for the
behavior of corporate employees. In doing so, we will enhance awareness of compliance among all
managers and employees in the group, push forward further business activities secured with ahigh degree of transparency, and work toward the realization of a sustainable society.
1. RESPECT DIVERSITY AND HUMAN RIGHTS(1) Respect the human rights of all persons, regardless of whether domestic or international, andbehave equally and fairly.
(2) Realize the establishment of an organizational culture that enables challenges toward thecreation of new value and of work styles that respect diversity and individuality and strive forthe improvement of productivity and the growth of employees.
(3) Secure safe and easy-to-work working environments that are considerate of health and safety.
2. SOCIAL RESPONSIBILITY(1) Supply safe and secure products and services that are useful to society and provide accurate
product information correctly to achieve customers’ confidence and satisfaction.
(2) Build reliable relationships with business partners based on fair and appropriate traderelations to contribute to mutual growth and enhance social confidence.
(3) Disclose corporate information actively and fairly to earn the trust of stakeholders andenhance corporate value.
3. HARMONY WITH THE ENVIRONMENT AND SOCIETY(1) Recognize work on environmental issues, including climate change, as a mandatory
requirement for the corporate existence and activities, and aim to contribute to society byworking on them aggressively.
(2) Work on the preservation of biodiversity and its sustainable use.
(3) Value culture and customs, regardless of whether domestic or international, work in harmony
with local society, and engage in social contribution activities.
4. LEGAL COMPLIANCE(1) Comply with the law and corporate regulations in all business activities and behave withsincerity in accordance with good sense and social norms.
(2) Secure management of private and corporate confidential information and work to maintainand improve information security.
(3) Maintain healthy and visible relationships with politics and government.
5. THOROUGH CRISIS MANAGEMENT(1) Recognize that threats that affect corporate activities are becoming increasingly diverse andcomplex, and work to strengthen organized crisis management and business continuity
capabilities.
(2) Prepare adequately for emergency situations such as natural disasters, epidemics, and cyberattacks and, in the event of an emergency, work to minimize its impact, with priority on
securing human lives and safety.
(3) Never have any relationship with anti-social forces and organizations who disturb the peaceand order of society.
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Sustainability Report 2023

Sustainability Policy and Promotion System

SJC Group Sustainability Policy
SJC Group’s corporate philosophy stipulates: The aim of the Sekisui Jushi Group is tocontribute to a safer, more secure and healthier environment for society by creating
valued products and services, through the application of composite technology.
Guided by this philosophy, the Company aims to further enhance our corporate value
based on sound and transparent management and business activities in harmony withsociety and the environment, thereby ensuring the trust of all stakeholders, identifying
key issues that will lead to the sustainable development of society and the Group, andresolving social issues, including the achievement of the SDGs.

Promotion System
Under the leadership of the SJC Group Sustainability Promotion Committee, the SJC Group is promoting
initiatives to help build a sustainable society on a cross-sectional basis.

Board of Directors
Supervision andinstruction

ReportSJC Group Sustainability Promotion Committee
Chairperson: President and Representative Director, Chief Executive Officer
Committee chairperson: Director, Managing Executive Officer,and Head of Sustainability Promotion

Business
Committee

Manufacturing
Committee

Development
Committee

Human Resources &GovernanceCommittee
As of June 27, 2023

Message from the Chairperson of the SJC Group Sustainability
Promotion Committee

Committee
Chairperson
Katsuyoshi Sasaki

The sustainability initiative is a group-wide undertaking to address
climate change and other social issues.
SJC Group is engaged in a diverse range of businesses in the
public and private sectors that contribute to society’s safety,
security, and environment. The Group recognizes that the resultsof each employee’s efforts contribute to solving social issues
through business activities, new technological development,
products, and services.
Promoting sustainability is one of the basic policies of the SJCGroup Vision 2030, and the SJC Group Sustainability Promotion
Committee serves as the cornerstone of our sustainability
management strategy and strengthening of our managementfoundation.
Through the Committee, we will actively promote sustainability
initiatives to contribute to society and enhance the corporate valueof SJC Group.

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Sustainability Report 2023

Materiality (Key Issues) and Strategies
SJC Group’s Materiality (Key Issues)
SJC Group has long been committed to business activities with the aim of creating a sustainable society byfacing ever-changing social issues under our corporate philosophy: The aim of the Sekisui Jushi Group is tocontribute to a safer, more secure and healthier environment for society by creating valued products andservices, through the application of composite technology.
As part of our efforts to continue and develop these initiatives, we have identified key issues (materialities) for
the Group and will continue to promote business activities that provide safety and security for people’s lives
and harmony with the environment.

Identification of Materiality to Development of Management Strategies
Process for identifying materialities
Extract material items (economic, environmental, and social) by referring to the procedures, etc.,
indicated in the GRI standards.
Executive officers (including directors concurrently serving as executive officers) and senior
management evaluate and score the importance from the perspectives of both importance tostakeholders and importance to the Group.

Materiality identified by SJC Group Sustainability Promotion Committee

Importance to stakeholders(expectations and requests)

High

Classification

Materiality

Business

Contribution to disaster prevention/mitigationand national resilience
Elimination of road traffic accidents anddisasters

Materiality(Key Issues)

Adaptation to and mitigation of climatechangeEnhancing R&D capabilities
Expanding business domain
Utilization of digital transformation (DX)E

Decarbonization initiatives
Contribution to building a sustainable society
Promoting deplasticization

Importance to the Group

High

S

Promoting diversity & inclusion
Human resource development andexpansion of educational opportunities

G

Enhancing governanceIntegration of materialities with the Medium-term Management Plan and long-term vision
Once materialities were identified, the Company linked them to the medium- to long-term management
plan and established business strategies, sustainability goals, and key performance indicators (KPIs) for
addressing materialities.

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Sustainability Report 2023

Promotion Targets (KPIs) and Initiatives
Key Performance Indicators (KPIs) for Materiality
SJC Group will further promote ESG management through the PDCA cycle by setting the following KPIs, linked
to the sustainability targets of our long-term vision and Medium-term Management Plan, as a part of theintegrated management of our medium- and long-term management plans and materiality-related initiatives.

Classification

Business

Materiality

Contribution todisaster prevention/
mitigation andnational resilience

Initiatives to achieve

Indicator

Enhancing products and services forpreventative maintenance measures
for road infrastructure and measures
for river, waterway, and watershed
flood control in the event of natural
disasters
Enhancing earthquake and high wind
resistance products and services forbuilding exteriors

Elimination of roadtraffic accidents anddisasters

Enhancing safety products andservices for automobile driving
support, pedestrians, and bicyclists

Adaptation to andmitigation of climatechangeEnhancing natural disaster andextreme weather monitoring products
and services

E
Decarbonization
initiatives

Products
contributing tosustainability

Targets

Fiscalyear
achieved

Net sales ratio
50%

2023

Net sales ratio
70%

2029

Cumulative
total of EX
registrations:15
26% reduction

Improving energy efficiency at
production facilities(compared to
FY2013)2023

46% reduction(compared to
FY2013)Contribution tobuilding asustainable society

Expanding the deployment of reduce,reuse, and recycling systems

Promotingdeplasticization

Active use of bioplastics

Reducing singleuse plastic usage

25% reduction

50.9%

Cumulative
total ofregistrations:
12

2023
35.0%
reduction

CO2 emission
Expanding the use of renewableenergyFY2022
results

2029

2029

8.0%
reduction

Net sales ratio
70%

2029

50.9%

30%

2029

24.9%

CG CodeStandards

Meet the same
criteria—

Explain: 1

Ensuring compliance

Severe violation oflaws andregulations

0

—

0

Enhancing product quality and safety
management

Severe productaccident
Severe industrial
accident

Products
contributing tosustainability

S

Ratio of women,
Creating an organization and culture non-Japanese, midPromoting diversity &career hires, andwhere diverse employees have theinclusion
opportunity to play active roles
other groups to corehuman resourcesG

EnhancinggovernanceImproving the system in line witheach principle of the CG CodeSEKISUI JUSHI GROUP

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Sustainability Report 2023

(compared to
FY2021)

0
0

—

0
0

Special Features

Special Feature 1:
Solving Social Issues through BusinessSpecial Feature 2:
Allowing Diverse Human Resources to Excel
Special Feature 3:
Addressing Climate Change Issues (TCFD)SEKISUI JUSHI GROUP

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Sustainability Report 2023

Special Feature 1: Solving Social Issues through BusinessContributing to the creation of a sustainable society throughproducts contributing to sustainability
SJC Group has long been committed to CSV (Creation of Shared Value) and has been working to solve social
issues and contribute to a sustainable society. Aiming to further enhance our corporate value by solving key
issues proposed in the SDGs and contributing to a sustainable society, from FY2021, we have been
expanding our core businesses of safe, secure, and comfortable lives; disaster prevention and mitigation; andenvironmental measures, while building a new foundation for the future. To contribute to achieving the SDGs,
we have positioned products and services that contribute to the creation of a sustainable society as products
contributing to sustainability while promoting our business activities.

What Are Products Contributing to Sustainability?
The Company has established criteria in six areas, including contribution areas that lead to the resolution ofsocial issues, in addition to the conventional contribution areas of global environmentally conscious products,
and positioned products meeting these criteria as products contributing to sustainability.
● The Company’s conventional
environmentally conscious products● Products designed to address social issues(Products that help reduce environmental
impact) Decarbonization
 Deplasticization
 Building a sustainable
society Biodiversity & ecosystemconservation

 Disaster prevention/mitigation andnational resilience Creating safe, secure, and comfortableroads, cities, and working environments

Areas of Contribution and Description(1) Disaster prevention/
mitigation and national
resilience

Extending ancillary infrastructure
longevity
Improving resilience and durability
against natural disasters(2) Creating safe, secure,and comfortable roads,
cities, and working
environments

Addressing traffic accidents, traffic
congestion countermeasures, automateddriving, barrier-free access, and anticrime
measures
Improving the safety of the work
environments(3) Decarbonization

Enhancing and updating the use ofrenewable energy sources(4) Deplasticization

Reducing plastic use
Research and development of alternative
materials for plastics(5) Building a sustainable
society

Establishing recycling and reuse
schemes(6) Biodiversity & ecosystem Preventing marine pollutionconservation
Ecosystem conservation
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Sustainability Report 2023

Applicable SDGs Targets

Special Feature 1: Solving Social Issues through Business

Certification criteria and flow for products contributing to sustainability
Certification of products contributing to sustainability is based on an evaluation by themembers of the Development Committee, a subordinate body of the SJC Group
Sustainability Promotion Committee, followed by a report and certification by the SJCGroup Sustainability Promotion Committee. Products that are recognized for their overall
quality, especially in terms of degree of contribution to sustainability and technologicalnovelty, are designated as products contributing to sustainability EX and reported to theBoard of Directors.
Areas of Contribution

Key Items for Certification(1) Disaster prevention/
mitigation and national
resilience• Mitigation of damage caused by natural disasters• Thermal barrier and temperature rise control function• Contributing to extending the service longevity of existing products(2) Creating safe, secure,and comfortable roads,
cities, and working
environments• Reducing traffic accidents by offering guided lines of sight to drivers, etc.
• Contributing to the creation of safe and comfortable working environments• Noise, light interference, radio wave reduction functions, monitoring/warning functions(3) Decarbonization• Employing clean energy sources such as solar, wind, hydro, geothermal,pressure, etc.
• Improving energy consumption efficiency during product use(4) Deplasticization• Utilizing biomass-derived raw materials• Significantly reducing the amount of plastic used compared toconventional products(5) Building a sustainable
society• System to collect and recycle used products• Using recycled raw materials• Reducing the use of raw materials• Reducing pollution of marine and terrestrial environments(6) Biodiversity & ecosystem• Contributing to the conservation of marine and natural terrestrial
conservation
ecosystems

Targets of Products Contributing to Sustainability
Under the SJC Group Medium-term Management Plan established in August 2021, the Group has set asustainability target of 50% of net sales of products contributing to sustainability (FY2023), which the entire
SJC Group is committed to achieving. In FY2022, the sales ratio of products contributing to sustainability was
50.9%.

Products contributing to sustainability targets and results
Item

FY2023 Targets

FY2029 Targets(Fiscal year ending
March 31, 2030)

Ratio to net sales of
products contributing
to sustainability

Net sales ratio 50%

Net sales ratio 70%

70.0%
50.3%

50.9%

FY2021 Results

FY2022 Results

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FY2029 Targets

Sustainability Report 2023

Special Feature 1: Solving Social Issues through Business
Introduction to Products Contributing to Sustainability EX

Transparent radio wave absorption/shielding panel to prevent RFID
misrecognition
Areas ofContribution(2) Creating safe, secure, and comfortable roads, cities, and working
environments

RFID systems, using radio waves to capture information from electronic tags on
objects without contact, have faced issues whereby the radio waves used to readthe tags reflect off walls and other surrounding objects and reach unexpected
targets, resulting in misrecognition of data other than the intended tag. Transparent
radio wave absorption/shielding panels prevent the reflection of radio waves byabsorbing or shielding them, thereby solving issues of false recognition in RFID
systems and contributing towards reducing labor in plants and logistics facilities.
<Comparison of electronic tag reading conditions>Target
Non-target

Transparent radio wave
absorption/shielding panel

Non-target

Scanner uses radio waves to read electronic tags on theintended object

Accurately reads only the target electronic tag

Synchronized self-luminous visual guidance markers that alert drivers
24 hours a day using natural energy (photovoltaic)
Areas ofContribution(1) Disaster prevention/mitigation and national resilience(2) Creating safe, secure, and comfortable roads, cities, and working
environments(5) Building a sustainable society

Compared to conventional products, this product emits light over an extended area,
making it brighter and more effective in alerting drivers to the road alignment 24 hours
a day, supporting safe driving. Equipped with an original energy-saving wireless unit,
various synchronized emissions are possible without the need for wiring work. The
storage battery uses a nickel-metal hydride battery, which offers longer service andreduces the frequency of battery replacement, and the original energy-saving design,
which utilizes natural energy (photovoltaic), helps reduce the environmental impact.

Navilead

Sandery III

Max.
50 m

Signal transmission between
adjacent devices
Any number of units can be connected bytransmitting signals through wirelesscommunication between adjacent devices.
* Installation interval: max. 50 m (highway)

Luminescence during snowfall

Simultaneous luminescence
provides a clear line of sight andimproves the visual guidance effect.

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Special Feature 1: Solving Social Issues through Business
Introduction to Products Contributing to Sustainability EX

Pole Cone CITY R/Pole Cone Guide R, safety measures fordaily-use roads and school routes
Areas ofContribution(2) Creating safe, secure, and comfortable roads, cities, and working
environments(5) Building a sustainable society

This traffic safety countermeasure product is designed to guide the line of sight and alert drivers and pedestrians toprevent traffic accidents on daily-use roads and school routes. Various installation formats can be selected to suit theintended environment, allowing installation in a wide range of locations, including streets, curbs, and parking lots.
The pole can be easily replaced, so it can be used over long periods with few repair parts.
By creating safer, more secure, and more comfortable roads and cities, the Company contributes to building asustainable society.

Nagano Prefecture

Osaka Prefecture
Installed as a safety measure on busy roads.

Reflective sheets with text and pictograms alert drivers.

Hokkaido Shinkansen hanging soundproof wall with highdurability and easy maintenance
Areas ofContribution(1) Disaster prevention/mitigation and national resilience(2) Creating safe, secure, and comfortable roads, cities, and working
environments

The elevated bridges of the Hokkaido Shinkansen line are designed to prevent snow from accumulating during winterusing openings in the floor. Soundproof walls have been installed through the openings to reduce the noise of passing
trains. This product was developed through repeated durability tests with accelerated vibration, freezing, and thawing andhas been recognized for its high durability. The structure also helps save labor as it is designed for easy installation andmaintenance.

Experimentally installed sound-absorbing panels

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Sustainability Report 2022

Special Feature 1: Solving Social Issues through Business
Introduction to Products Contributing to Sustainability EX

Delivery boxes for apartment complexes to receive packages
any time without face-to-face contact
Areas ofContribution(2) Creating safe, secure, and comfortable roads, cities, and working
environments(5) Building a sustainable society

This product helps reduce redelivery of packages, which has become a majorsocial issue in recent years. It also serves as a benefit in terms of crime
prevention for people living alone, and by reducing redeliveries, it helps toimprove the working environments of delivery drivers and conserve energy.

User-friendly and the PIN automatically reset each timethe door is unlocked, preventing the PIN from being
leaked.

Topic

Projects utilizing open innovation

We have launched a new project in collaboration with A Inc., in which
we utilize their online co-creation platform Wemake to create a new
Sekisui Jushi agribusiness that is not limited to Ibotake agriculturalpoles.
While agriculture and forestry, which are the primary industries subject
to our agribusiness, are expanding, becoming more automated, laborsaving, and IT-intensive, they are also facing various challenges suchas the aging of the workforce and a lack of successors. By soliciting
proposals from approximately 30,000 registered users that represent adiverse range of consumer and cross-industry perspectives withknowledge and ideas not found within the SJC Group, we strive tocreate new products and businesses in the agribusiness sector that
support safe, secure and comfortable lives for people engaged in the
agricultural and forestry industries.

SEKISUI JUSHI GROUP

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Sustainability Report 2022

Special Feature 2: Allowing Diverse Human Resources to Excel

Allowing Diverse Human Resources to Excel
Against a social backdrop of declining birthrates, an aging population, and a shrinking labor force, thework styles of companies have changed dramatically over the past several years. To survive into the
future, it is essential for companies to respect the diverse personalities of their diverse humanresources and become an organization in which employees are highly motivated and satisfied with theirwork and in which they can demonstrate their abilities.
In light of these circumstances, SJC Group has positioned maximizing the value of human capital as
one of its basic management policies and is actively promoting investment in human resources
pursuant to its Human Resource Development Policy, Diversity & Inclusion Policy, and Declaration of
Health Management.

Human Resource Development Policy
To put the corporate philosophy and Vision of the SJC Group into practice, we will work to develop
human resources who independently apply their ideas, take action, and tackle challenges.

Human Resources We Seek
Change the ordinary. Change for the better.
SJC Group is committed to creating more fulfilling everyday lives by contributing to society’s safety, security,and environment by creating valuable products and services based on composite technologies. For thispurpose, we have defined three valuable keywords that we seek in our human resources as the ideal state of
our employees, thereby promoting the development of our human resources.

Challenge

Human resources with curiosity and open-mindedness to continue to take on thechallenge of change
At SJC, we believe that in order to create the more fulfilling everyday lives that we aspire to, it isimperative to always be future-oriented and continue to innovate without being bound by pastvalues. To achieve this, we are developing human resources with curiosity and openmindedness to continue to take on the challenge of change.

Collaboration

Human resources who can work together toward a common goal and maximize results
We believe that innovative ideas and results can be generated by diverse groups of like-minded
employees who work together through good communication, enthusiasm, and persistence tosolve problems.
To this end, we are fostering human resources who can work together toward a common goal
and maximize results.

Gratitude

Three Valuable Keywords in Human Resources(Challenge, Collaboration, and Gratitude)

Human resources who value gratitude and conduct themselves with fairness andintegrity
We believe it is important to always appreciate everything in society and learn with humility,
following the highest ethical principles. Accordingly, we are committed to nurturing humanresources who not only contribute to the Group’s profits but also conduct themselves with
fairness and integrity, valuing high aspirations to contribute to society and a sense of gratitude
to all.

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Special Feature 2: Allowing Diverse Human Resources to Excel

Promoting Diversity & Inclusion
and Wellbeing Management
Diversity & Inclusion Policy—Weaving the future of SJC with employees—
The concept of weaving means combining various things to create a single object.

SJC Group has continued to grow through its commitment to supporting people’s safe, secure, andcomfortable lives.
Diversity & Inclusion is an important management foundation that we will actively address toaccelerate our growth as a corporate group that is trusted and inspires people worldwide through thecreation of valuable products and services.

1. Harness diverse human resources

While promoting the empowerment of women, we will create an organizational culture thatrecognizes the diverse values of our diverse human resources, regardless of nationality, age,career, disability, etc., allowing each and every employee to demonstrate their abilities.

2. Realize flexible work styles

The Company supports employees in balancing work with childcare, nursing care, medical
treatment, etc., thereby facilitating flexible work styles and work-life balance.

3. Ensure healthy and safe working environments

The safety, security, and health of our employees and their families is our first priority, so theCompany endeavors to maintain and promote employee’s mental and physical health and create
comfortable working environments.

Declaration of Health Management—Well-being Management: Where people and the organization shine with vitality and energy—
SJC Group is committed to becoming a corporate group that contributes to the safety, security, andenvironment of society by creating valuable products and services based on composite technologies.
Accordingly, we believe that the most important management foundation is the physical and mental
health of our employees working at SJC Group.
The Company will promote well-being management by creating a workplace environment where
employees feel satisfaction in their work and where each individual can maximize their abilities.
1. The Company will actively work to maintain and promote its employees’ physical and mental
health and support their health maintenance.
2. Employees shall be mindful of their own health as well as their families and work to maintain andpromote their well-being.
3. The Company will create safe, secure, and comfortable work environments for employees,
where they can take on the challenge of creating new value with a sense of fulfillment.

Promotion System

As part of the SJC Group Sustainability Promotion Committee’s Human Resources & Governance Committee,
these activities are being promoted.
SJC Group Sustainability Promotion Committee
Human Resources & Governance Committee
Diversity & inclusion and wellbeing management[Person responsible] General Manager, Corporate
Administration Headquarters[Promotion secretariat] Human Resources Department
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Special Feature 2: Allowing Diverse Human Resources to Excel

Initiatives to Allow Diverse Human Resources to Excel
Ensuring Diversity in Core Human Resources
The Company is actively recruiting mid-career hires in accordance with our Diversity & Inclusion Policy and is increasing
the ratio of employees with experience in different industries and mid-career hires to our core human resources. While
promoting the development of global human resources, we are also encouraging our overseas subsidiaries to appoint
local employees, including women, to managerial positions, as we have done in Japan.
* Ratio of diversity (women, non-Japanese, mid-career hires, and other) to core human resources 24.9% (as of March 31,
2023, Sekisui Jushi non-consolidated)

Promoting the Empowerment of Women
Recognizing the importance of creating an organizational culture and workplace environment in which employees canwork actively and with peace of mind, regardless of gender, for the sustainable development of the Company, SJCGroup continues to promote the hiring of female career-track employees and expand systems to support balancing workand life events.
The Company also promotes human resource development that enables employees, regardless of gender, to enhancetheir career awareness and demonstrate their abilities through a system that allows employees to switch between careertrack and general employment courses.

Promoting Employment of People with Disabilities
Through the employment of people with disabilities, the Company hopes to foster a corporate culture that can manage
the strengths and weaknesses of all employees, thereby growing into a more diverse organization. Furthermore, we
believe that creating comfortable workplace environments for people with disabilities will lead to better working
environments for all employees. As of March 31, 2023, our employment rate stands at 3.2%, while the employment rate
in our domestic Group is 2.3%. We will continue to actively promote development of employment initiatives by developing
case studies of other offices that are making progress in their employment efforts.

Promoting Senior Human Resources
As one of our key tasks, we are promoting the establishment of systems and environments that enable senior humanresources to play an active role in the Company. To ensure our Group’s continued growth, it is imperative that seniorhuman resources leverage their experience, skills, and expertise and work with a high level of motivation to support thedevelopment of all generations. Toward the realization of this goal, in October 2022, the Company implemented a reviewof the personnel systems regarding the employment of senior employees between the ages of 55 and 60. In April 2023,
the Company extended the retirement age from 60 to 65.

Topic

Promoting diversity & inclusion

As part of measures to promote diversity and inclusion, training washeld in July 2023 for officers, female career-track employees, and theirsupervisors.
(1) Diversity management training (for officers)(2) Female leadership training (for female career-track employees)(3) Diversity management training (for female career-track
supervisors)
We will promote the proper understanding and penetration of diversity
and inclusion to create an environment where our diverse humanresources can play an active role so that employees and the Company
can mutually grow.

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Special Feature 3: Addressing Climate Change Issues (TCFD)

Information Disclosure Basedon the TCFD Framework
SJC Group regards promotion of sustainability management as part of our responsibility to ensure the safety,
security, and comfort of future generations, and we believe that addressing sustainability issues is essential
to realizing the SJC Group Vision 2030 and ensuring that the Group continues to be valued by society wellinto the future.
We have identified addressing climate change as one of our materialities (key issues), setting greenhousegas reduction targets to curb CO2 emissions, and in September 2022, we announced our endorsement of the
TCFD recommendations, analyzing the impact of climate change-related risks and opportunities on ourbusiness activities and earnings, while considering measures to minimize risks and ensure opportunities are
seized.
This page discloses information on SJC Group’s response to climate change issues based on the TCFD’s
recommendations. The following items have been updated from the information disclosed last year to reflect
the new actions in 2023.
· In order to promote sustainability management, which is positioned as one of the basic policies in the SJCGroup Vision 2030 announced on April 27, 2023, we conducted scenario analysis, risk and opportunity
identification, materiality assessment, and countermeasure consideration with the cooperation of external
experts to enhance the effectiveness of our response to climate change, which poses as one of the key
issues.
· For risks and opportunities deemed to have particularly large impacts on the Company business,quantitative estimates of the impacts were conducted.

Governance
The Group has a system in place for the Board of Directors to consider various factors related to climatechange when discussing management strategies. The SJC Group Sustainability Promotion Committee,
consisting of the CEO and other members of the management team in principle, meets once every threemonths to administer and promote initiatives related to climate change to enhance effective implementation.
Under the Committee, to promote these activities, four subcommittees, the Business Committee,
Manufacturing Committee, Development Committee, and the Human Resources & Governance Committee
have been established to study the direction of sustainability focusing on climate change, identify materiality,
setting targets, monitoring progress, and evaluating the results. The head of sustainability promotion also
serves concurrently as the chairperson of the Committee.
The Board of Directors receives a report every six months about the activities of the Committee and provides
appropriate supervision and guidance on the achievement of targets, while decisions on important issues andindexes are made at Board of Directors meetings to further facilitate such initiatives.

Risk Management
To ensure that the SJC Group’s sustainability-related risk management process is appropriate, the SJCGroup Sustainability Promotion Committee identifies company-wide risks and opportunities, which includes
climate-related risks and opportunities, then evaluates the significance of the risks and opportunities while
effectively utilizing outside knowledge and considering the degree of impact on management, timing ofmanifestation, financial impact, and other factors, and determine the optimal measures to be taken. Since
climate change is related to the materiality of the Group, we regard it as a particularly important
risk/opportunity that should be managed on a group-wide scale.
The discussions deliberated by the SJC Group Sustainability Promotion Committee are regularly reported toand overseen by the Board of Directors.

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Special Feature 3: Addressing Climate Change Issues (TCFD)

Strategy
While we are taking steps to minimize the risks associated with climate change, we believe that ensuring we
seize opportunities and link them to profits is an essential process for achieving the SJC Group Vision 2030.
Risks and opportunities are analyzed across multiple short-, medium-, and long-term time frames from theperspective of policies, regulations, technologies, and markets during the transition phase to a decarbonizedsociety, as well as the physical impacts of climate change.
(Short-term: through 2025, medium-term: through 2030, long-term: through 2050)
Risks and opportunities identified are assessed for their impact on business and earnings using the +1.5°C
and +4.0°C scenarios, drawing on the knowledge of external experts. (Although SJC Group focuses on thetransition scenario represented in the +1.5°C scenario, in light of the recent increase in extreme natural
disasters in Japan, we are also considering the potential issues under the +4.0°C scenario, which includes agreater impact from climate change.)* Scenario analysis assumption
Item
Potential scenarios
Target scope
Estimated financial
impactAssumption
Projected world views of a +1.5°C scenario (IPCC, SSP1-1.9), in which countries adopt
climate change measures to reduce global warming, and a +4.0°C scenario (IPCC, SSP37.0), in which countries do not take sufficient steps to combat global warming.
Non-consolidated business of SJC Group and two major subsidiaries and affiliates
After conducting a qualitative analysis of the impact on the current business, the financial
impact is quantitatively estimated for risks and opportunities that are expected to significantly
impact the business based on highly reliable external data.

The following is a quantitative assessment of the risks and opportunities that are anticipated to significantly impact thebusiness as a result of the scenario analysis.
(Legend)[Time frame]
Long-term: 2050, medium-term: 2030, short-term: 2025
[Severity of impact] Large: more than 500 million yen, medium: 100 to 500 million yen,small: less than 100 million yen, ✗: limited impact↓: downward trend in income, ↑: upward trend in income

Policy and legal

Risk

Category

Risk typeTime frame

Increase in tax burden on in-house CO2
emissions due to the introduction of acarbon tax
Increase in electricity prices due tosoaring energy costs stemming fromlow-carbon regulations

Increase in raw material costs due to
low-carbon restrictions on steel
products and petroleum-derived
products or demand fluctuations
Asset damage and opportunity losses
Typhoon,due to flooding, damage, and shutdown
torrentialof production sites from increasedrainflooding and landslides

Business impact

Medium tolong-term

Increase in
manufacturing costs

Medium tolong-term

Increase in
manufacturing costs(Improved for +4.0°C)

Medium tolong-term

Increase in
manufacturing costs

Short tomedium-term

Decrease in net sales
Restoration expenses
and asset damage

Severity of impact+1.5°C
*1

Large
↓

*2

+4.0°C
✗
*2

Small

Small

↓

↑

*3

*3

Large

Large

↓

↓
*4

*4

MediumMedium↓↓*1 The carbon price was sourced from the Net Zero Emissions by 2050 Scenario and the Stated Policies Scenario in the IEA World Energy Outlook
2022 (p. 465) and assumed to be a carbon tax per unit of emissions.
*2 Figures are calculated by estimating the rate of increase in electricity prices from the statistics in the Sustainable Development Scenario and the New
Policies Scenario of the IEA World Energy Outlook 2018 (p. 471).
*3 Figures are calculated by estimating the rate of steel price increase based on the GLOBAL PRICE DEVELOPMENT HRC OF CRUDE STEEL(USD/TON) in 2DII The Transition Risk-o-Meter Reference (p. 49).
Figures are calculated by adding the assumed carbon tax impact to the value calculated by estimating the crude oil price increase rate according to
the Fossil fuel by scenario in the IEA World Energy Outlook 2021 (p. 101).
*4 Evaluation of inundation risk for production sites was made using the World Resources Institute’s (WRI) Aqueduct Floods and hazard maps for eachmunicipality in Japan. Opportunity losses were calculated by multiplying the expected number of outage days per inundation height by the daily
production output of the site in question while also taking into account the current status of production sites, with reference to the Physical Risk
Evaluation Guide for TCFD Recommendations issued by the Ministry of Land, Infrastructure, Transport, and Tourism.
SEKISUI JUSHI GROUP

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Sustainability Report 2023

Special Feature 3: Addressing Climate Change Issues (TCFD)

The SJC Group Sustainability Promotion Committee will play a central role in the company-wide efforts
to enhance the organization’s resilience to the impact of climate change by establishing the direction of
response to the identified risks and reflecting them in our business strategy.
Risk type

Course of action
Reduction of GHG emissions· Reduction of energy consumption throughproduction process reforms· Utilization of renewable energy· Continuing energy conservation initiatives· Enhancement of production efficiency through DX
utilization, equipment maintenance, andproductivity improvement
Early identification of the status of regulatedmaterials and consideration of alternative materials· Early collection of information through enhanced
cooperation with suppliers· Development of products focused on recycling,
resource conservation, and biomass feedstock
Strengthening the supply chain· Identifying risks at each production site andpromoting countermeasures· Promotion of multiple purchasing, inventory
strategies, and material switchovers based onpurchasing strategies

Increase in tax burden on in-house CO2 emissions
due to the introduction of a carbon tax
Increase in electricity prices due to soaring energy
costs stemming from low-carbon regulations

Increase in raw material costs due to low-carbon
restrictions on steel products and petroleumderived products or demand fluctuations

Asset damage and opportunity losses due toflooding, damage, and shutdown of production sites
from increased flooding and landslides

Opportunities for climate change impacts are also considered as follows.

MarketOpportunity

Category

Category

Opportunity typeTime frame

Opportunity typeTime frame+1.5°C
Increase in net sales due to higher market share of products
Medium↑term
contributing to sustainability
Description of impact
The Company has set a goal of achieving a 70% net sales ratio of products contributing tosustainability by FY2029 and is developing products that contribute to building a decarbonizedsociety to achieve this goal. In the +1.5°C scenario, demand for such products is expected tobe even stronger, which will have an incremental impact on the Company’s net sales.
Currently, the degree of impact has not been quantified due to a lack of information to assess
the expected degree of demand fluctuation. Information will continue to be collected andanalyzed going forward.

MarketIncrease in net sales due to increase in flood control works
Opportunity

ImpactMediumterm

Impact+4.0°C↑

Description of impact
Although the Company currently sells a line of products to meet the demand for flood control
measures designed to prevent roads from flooding and rivers from rising, if the +4.0°C
scenario is adopted, the demand for such products is likely to increase as typhoons andtorrential rains are expected to cause greater damage. In response to such demand, theCompany expects increased opportunities to contribute to minimizing damage and creating
disaster-resistant cities. Currently, the degree of impact has not been quantified due to a lackof information to assess the expected degree of demand fluctuation. Information will continue
to be collected and analyzed going forward.

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Special Feature 3: Addressing Climate Change Issues (TCFD)

Index and Targets
As a means to perform integrated management of climate change initiatives, the SJC Group has set nonfinancial targets as stated in the SJC Group Vision 2030, with progress managed and promoted by the SJCGroup Sustainability Promotion Committee.
≪Non-financial Targets of the SJC Group Vision 2030≫
Index
Index forrisk

Targets

CO2 emission

Scope 1, 2

FY2029: 46% reduction compared to FY2013 FY2022 results:
FY2023: 26% reduction compared to FY2013 35.0% reduction

Index for
Sales ratio of products
opportunity contributing to sustainability

FY2029: Net sales ratio 70%
FY2023: Net sales 50%● CO2 emissions

Domestic business offices CO2 emissions (1,000 tons CO2)

35.0% reduction
Target: 46%
reduction

FY2013 Results

FY2021 Results

FY2022 results:
50.9%

Key Initiatives

CO2 emissions (1,000 tons CO2) targets
and results

26.1% reduction

ActualFY2022 Results

FY2029 Results<Installation/upgrading energy-saving equipment>· Installation of photovoltaic power generation system· Upgrading to high-efficiency transformers· Upgrading to high-efficiency motors· Integration and upgrade of compressors· Upgrading cubicles, etc.
<Enhancing productivity>· Reduction of energy consumption throughimprovement of good product ratio· Improving efficiency of cooling facilities· Integration of production lines· Electrification at the time of equipment upgrade· Upgrading high-frequency welding machines, etc.

We will continue to introduce and upgrade energy-saving equipment and improve productivity while
promoting the application of renewable energy.

● Sales ratio of products contributing to sustainability
Targets and results for sales ratio of
products contributing to sustainability

FY2021 Results

FY2022 Results

FY2029 Results

The Company has established criteria in six areasand positioned products and services meeting thesecriteria as products contributing to sustainability.
<6 areas>· Disaster prevention/mitigation and national
resilience· Creating safe, secure, and comfortable roads,
cities, and working environments· Decarbonization· Deplasticization· Building a sustainable society· Biodiversity & ecosystem conservation

Through the development and distribution of products contributing to sustainability, we will contribute to
the safety, security, and environment of society.

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Sustainability Report 2023

Sustainability Activities Report

Environment■ Environmental Management Policy
and Management■ Overall Environmental Impact■ Environmental Activity Plans andResults■ Reducing Greenhouse Gas
Emissions■ Biodiversity Conservation

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Sustainability Report 2023

Environmental Management Policy and Management

SJC Group Environmental Management Philosophy
The Company acknowledges that protecting the invaluable Earth from environmental issues
such as environmental destruction and resource depletion is of utmost importance. Throughour environmentally friendly and conscious products and business activities, we willcontribute to the lasting harmony between the Earth and humankind and the creation of aliving environment rich in humanity.

Environmental Management Policy
Conserve and recycle resources, zero waste, and improve and preserve
the environment
1. We will fulfill our social responsibility to the global environment by working toward
our goal of zero waste and improving and preserving the environment.
2. We will contribute to conserving and recycling resources by developing
environmentally conscious products.

SJC Group Policy on Biodiversity
Conservation Initiatives
SJC Group recognizes that biodiversity conservation is one of our key social
responsibilities, and we are committed to biodiversity conservation and its sustainable
use through recognizing, preventing, and reducing the impact of our businessactivities on biodiversity.
1. We contribute to biodiversity conservation by developing and promoting
environmentally conscious products.
2. We will strive to reduce our environmental impact through continued initiatives toconserve energy and resources and to reduce waste and the use of hazardous
chemical substances.
3. As part of our social contribution initiatives, we strive to promote the conservationof ecosystems appropriate to the natural environment in which our business offices
are located.
4. We will deepen cooperation with organizations engaged with biodiversity andactively disseminate information to promote biodiversity conservation.

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Sustainability Report 2023

Overall Environmental Impact
Material BalanceMaterial balance refers to the input of energy, resources, and other resources used in business activities andthe output of emissions associated with those activities. By quantitatively assessing the environmental
impact generated throughout our business activities, we strive to reduce and appropriately control theenvironmental impact.
Period Covered:
FY2022

Input

Electricity

Fuel

Metals

29,762,000 kWh

90,570 GJ

73,000 tons

Organic
chemicals

Inorganic
chemicals

Water

51,400 tons

44,800 tons

990,000 tons

SJC Group(Domestic Business Offices)

Products and services

OutputCarbon dioxide(CO2)19,700 tons CO2
Biochemical
oxygen demand(BOD)

Waste generated(including
valuableresources)

2,710 tons
Chemical
oxygen demand(COD)
0.61 tons

0.74 tons

Sulphur oxide(SOx)

Nitrogen oxide(NOx)

Drainage

0.00 tons

0.15 tons

990,000 tons

SEKISUI JUSHI GROUP

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Sustainability Report 2023

Environmental Activity Plans and Results
8th Environmental Plan (FY2022 - FY2023) Results
The results for FY2022 in the 8th Environmental Plan targeting FY2023 are as follows.
8th Environmental Plan
(Target values for FY2023)

FY2022 Results

Enhancing products
contributing to sustainability

Ratio to net sales of products
contributing to sustainability
50% or more

50.9%

Number of registeredproducts contributing tosustainability EX

Cumulative total of registrations:
More than 15

Cumulative total of registrations: 12(2021: 5, 2022: 7)

Reducing CO2
emissions

Reducing CO2 emissions
Domestic business offices
Scope 1, 2Over 26% reduction comparedto FY2013

35.0% reduction

Promotingenergyconservation

Domestic business offices +Overseas business offices

Energy consumption per unit
Over 2% reduction compared to
FY2021

3.4% reduction

Promoting the
3Rs

Reducing single-use plastic
usage

Over 3% reduction compared to
FY2021

8.0% reduction

Domestic business offices +Overseas business offices

Waste generated per unit
Over 2% reduction compared to
FY2021(excludes onsite recycling,includes valuables)

6.7% increase

Implementation of naturalenvironment conservation
initiatives· Forest conservation· Aquatic environment
conservation

Preserving the beauty of pine forests
along the coast of the Sea of Japan
Forest foster parent agreement
Forest maintenance activities, etc.

Conservation of rare species
inhabiting the business site

Biodiversity Biwako Network
Conservation of rare species in
artificial ponds
Improving the environment of habitats forrare species

Efficient use of resources

Reducing greenhouse gas
emissions

Environmental contribution initiatives

Minimizing the environmental impact of business activities

Environmental contribution
through business andproducts

Items of Key Initiatives

Products
contributing tosustainability(*)

Reducing
waste

Biodiversity conservation initiatives

Enhancement of environmental
communication

Continued support for and participation in
Japan Conference for 2030 Global
Continued collaboration with
Biodiversity Framework (J-GBF), 30by30
nature conservation groups andAlliance for Biodiversity,
support for their activities
and Japan Network for Promoting the
SATOYAMA Initiative
Environmental communication
with local communities(community beautification,community environmental
events, etc.)

Community beautification activities at
each business site
Dragonfly observation event with thelocal library(*) SJC Group has targeted the expansion of environmental products (environmentally conscious products) in its 7th Three-Year
Environmental Plan, and since FY2021, the Company has set a new target as products contributing to sustainability. We are pursuing
the same target as part of our 8th Environmental Plan.
Products contributing to sustainability are listed on page 19.

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Sustainability Report 2023

Reducing Greenhouse Gas Emissions
Tracking Greenhouse Gas Emissions through the Supply Chain
The Company has established internal calculation standards complying with the Basic Guidelines on
Accounting for Greenhouse Gas Emissions Throughout the Supply Chain (Ministry of the Environment andMinistry of Economy, Trade and Industry) to monitor greenhouse gas emissions throughout the entire supply
chain, from raw material procurement to disposal.
FY2022 GHG emissions throughout the supply chain (domestic business offices)

FY2022SJC Group
greenhouse gas
emissions

436,547(Unit: tons CO2)

Scope 3 category

Scope 1
Scope 2
Scope 3Emission

Category

Emission(Unit: tons CO2)

Scope 1

Definition

Subject of
calculation

5,052

Direct emission from fuel use

Fuel purchased

Scope 2

14,690Indirect emission fromelectricity use

Electricity
consumed

Scope 3416,805

Indirect emissions notincluded above

See below

Subject of calculation

Unit of emission used

Emissions generated from activities prior to the346,153 production of raw materials, parts, purchased
products, materials related to sales, etc.

Amount of raw materials, molded
products, etc. purchased

Ministry of the Environment
Emission Intensity Database(Ver. 3.1)
IDEA v2

Emissions generated from construction andmanufacture of the company’s capital products

Increase in tangible and intangible
fixed assets

Ministry of the Environment
Emission Intensity Database(Ver. 3.1)

Purchased amount of energy

Ministry of the Environment
Emission Intensity Database(Ver. 3.1)

(Unit: tons CO2)

Definition

1

Purchased products
and services

2

Capital products

2,050

3

Fuel and energy
related activities notincluded in Scopes 1
and 2

Emissions generated from procurement of fuels
2,006 necessary for power generation, etc., such as
electricity and heat, sourced from other parties

4

Transportation anddistribution(upstream)

1,680

Emissions generated from logistics for raw
materials, parts, purchased products, materials
related to sales, etc., up to the time they reachthe company

Weight and transport distance ofpurchased raw materials, etc.

Act on the Rational Use ofEnergy (ton-kilometer method)

5

Waste generated inoperations

342

Emissions from the transportation and disposal ofwaste generated by the company

Weight of waste by type

Ministry of the Environment
Emission Intensity Database(Ver. 3.1)

6

Business travel

167 Emissions from employees’ business travel

Number of employees

Ministry of the Environment
Emission Intensity Database(Ver. 3.1)

7

EmployeecommutingCommuter pass expenses andgasoline fee associated with
commuting to and from the office

Ministry of the Environment
Emission Intensity Database(Ver. 3.1)

8

Leased assets(upstream)

9

Transportation anddistribution(downstream)

3,278

10

Processing of soldproducts

11 Use of sold products

12

Disposal of soldproducts

13

Leased assets(downstream)

14 Franchise

15 Investment

1,506

Emissions generated by employees commuting toand from the office

Emissions generated from operation of leased— assets leased by the company(Exclude cases calculated under Scopes 1 and 2)(Excluded from calculation)—

Emissions generated during transportation,
storage, loading, and retailing of products

Weight of product at time of
shipment and transportation
distance

Act on the Rational Use ofEnergy (ton-kilometer method)—

Emissions generated from processing of semimanufactured products by the company(Not calculated)

617

Emissions generated by users (consumers andbusinesses) as a result of use of products

Ministry of the Environment
Energy consumption during product
Emission Intensity Databaseuse(Ver. 3.1)

Emissions generated by users (consumers and56,522 businesses) during transportation and processingof products for disposal—

Emissions generated from operation of leased
assets— Emissions generated in franchisees

2,484Management of equity investments, fixed income
investments, project finance, etc.

Amount of raw materials, parts,
etc. purchased

32

Ministry of the Environment
Emission Intensity Database(Ver. 3.1)

(Excluded from calculation)—(Excluded from calculation)—

Equity investment (applicable toproduction offices with at least 20% Ministry of the Environment
shareholding)
Emission Intensity Database(Ver. 3.1)
Investment Scopes 1 and 2
Emission × investment equity ratio(Items excluded from calculation)
Category 8: Leased assets are calculated as Scope 1 and 2 emissions
Category 13, 14: N/A
SEKISUI JUSHI GROUP—

Sustainability Report 2023

Biodiversity Conservation

Environmental Communication
Continuing to support and participate in Japan Conference
for 2030 Global Biodiversity Framework
In an effort to support activities that contribute to biodiversity conservationand its sustainable use, since 2010, the Company has offered continuous
aid to the Japan Committee for the United Nations Decade on
Biodiversity (UNDB-J). We continue to support the successor
organization, the Japan Conference for 2030 Global Biodiversity
Framework, aiming for the year 2030.

Participation in the 30by30 Alliance for Biodiversity
Since its establishment in April 2022, we have participated in andsupported the 30by30 Alliance for Biodiversity, a coalition of volunteers
established by the Ministry of the Environment, calling on governments,
corporations, NPOs, and other organizations to achieve the 30by30(*1), a
new international goal to halt and restore biodiversity loss.

Topic

Initiatives to be certified as a Site Living in Harmony with
Nature by the Ministry of the Environment (first stage)

The Shiga Plant participated as a conservation area in the Site Living in Harmony with Nature (tentativename) certification trial (latter stage) initiated by the Ministry of the Environment in FY2022 as adomestic initiative to achieve the new global biodiversity conservation target 30by30 (target to conserveat least 30% of terrestrial and marine areas by 2030). In the evaluation conducted by the panel ofexperts, the rare oligotrophic wetlands that the Company is conserving received a very high level ofinterest and were evaluated as equivalent to recognition in the pilot project. Leveraging the experience
gained from this trial, during the official application for certification that began in FY2023, we submitted
an application to register two sites for certification, the Shiga Plant and the Logistics Center. Oligotrophic
wetlands, which are rapidly diminishing due to land development and other factors, are found in bothconservation areas and are home to a large number of scarlet dwarf dragonflies and wetland vegetation.
While the Shiga Plant Conservation Area (2.6 ha) and Logistics Center (2.3 ha) are marginal sites when
considered on a global scale, certification as a site living in harmony with nature will allow both locations
to be registered in the international database as an OECM under the global 30by30 target.

Scarlet dwarf dragonfly(Shiga Prefecture RDB 2020:
Species of concern)

Shield sundew(Ministry of the Environment
RL 2020: Semi-endangered)

Little grebe warming its eggs in a
retention basin(Shiga Prefecture RDB 2020:
Semi-endangered)(*1) 30by30:
The international target to conserve at least 30% of terrestrial and marine areas by 2030

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Sustainability Report 2023

Sustainability Activities Report

Governance■ Corporate Governance

SEKISUI JUSHI GROUP

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Sustainability Report 2023

Corporate Governance
Basic Policy on Corporate Governance
The Company recognizes that efficient management is indispensable to respond to the drastically changing
business environment and that establishing corporate governance is important to improve managementtransparency and speed up decision-making. Based on the principles of the corporate governance code, wewill strive to further improve the efficiency of the system.

Corporate Governance Structure
The Company recognizes that an audit structure by auditors, including outside auditors, and supervision by
the Board of Directors, including outside directors, are effective as management monitoring functions andhas therefore adopted a corporate structure with a Board of Corporate Auditors in place.
General Meeting of Shareholders
Appointment/
Dismissal

Appointment/
Dismissal

Appointment/
Dismissal

ReportBoard ofDirectors
Selection/
Supervision

Auditors

Personnel Affairs andRemuneration Advisory
Committee

Board of Corporate
Auditors

Management Meeting(Operations/
Accounting Audit)

Policy Committee

Audit

Directors

Accounting
Auditor
(Accounting Audit)

SJC Group

Sustainability Promotion
Committee

Compliance Committee

ReportExecutive
Officer
Board of Executive
Officers

Corporate Audit
Department

Presidents’Meeting of
Subsidiaries
and Affiliates

Internal Audit

Appointment

President andRepresentative Director,
Chief Executive Officer

Cooperation

Quality Control Committee
Occupational Safety and
Health Committee

Offices and subsidiaries

As of June 27, 2023

The basic policy and other related matters are available on the Corporate Governance page of theCompany’s website.
https://www.sekisuijushi.co.jp/shareholder_investor/management/governance/

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Sustainability Report 2023

Corporate Governance
Board of Directors

Management Meeting

The Board of Directors consists of a small number ofmembers and, in principle, meets once a month tofacilitate prompt decision-making regarding
management. The Company has appointed threeoutside directors to strengthen the supervisory function
and decision-making of the Board of Directors.
[Board of Directors consists of 8 people (7 men, 1
woman)](As of June 27, 2023)

In principle, the meeting is held once a month and iscomposed of full-time directors and executive officers
appointed by the chairman and attended by the fulltime auditors. The meeting discusses and makes
decisions on key management matters and thecompany’s business execution policies and deliberates
in advance on matters to be discussed at the Board of
Directors meetings.

Policy Committee

Board of Executive Officers

In principle, the committee is held once a month andconsists of full-time directors and executive officers
appointed by the chairman. The committee reviews
important matters of management policy and strategy.

In principle, the Board of Executive Officers meeting isheld six times a year and comprises executive officers.
The meeting discusses important matters related tobusiness execution, disseminates decisions made by
the Board of Directors and the Management Meeting,reports on the status of execution by executive officers,
shares relevant information, and discusses otherissues among directors and executive officers.

Presidents’ Meeting of Subsidiaries andAffiliates
In principle, the meeting is held twice a year andconsists of the Company’s full-time directors, full-time
auditors, and presidents of main Group companies.
The meeting deliberates on the business execution ofgroup companies to ensure management decisions are
made appropriately.

Board of Corporate Auditors
The Board of Corporate Auditors consists of fiveauditors, three of whom are outside auditors. The Boardof Corporate Auditors meets regularly to report andexchange opinions on audit results and other relevant
matters.
[Board of Corporate Auditors consists of 5 people (5men, 0 women)](As of June 27, 2023)

Accounting Auditor
The accounting auditor provides regular explanationsof the account audits to the auditors and exchanges
information, as well as conducts auditing of businessoffices under the mandate of the auditors to enhanceauditing in cooperation and coordination with theauditors.

Internal Audit
The internal audit division, known as the Corporate Audit
Department, conducts accounting audits of the Company
and its affiliates and operational audits focusing on theinternal control system and reports the results to theRepresentative Director and full-time auditors.

Changes in Initiatives to Strengthen Corporate Governance

Philosophy
system

1999

2007

2016

2019

2023

2007 Corporate Code of Conduct enacted
2019 New corporate philosophy established2023
Group Vision 2030 formulated

1999 Introduced the executive officer system

2012 Introduced the new executive officer system (appointment system)

Governance2001 Reduced director term of office from two years to one year
2001 Appointed one outside director
2008: 2 2016: 3 2022: 4

2023: 32007 Compliance Committee established2016 Increased outside auditors to three
2019 Personnel Affairs and Remuneration
Advisory Committee established
2021
SJC Group Sustainability
Promotion Committee established
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Sustainability Report 2023

Corporate Governance
Officers■ Directors
President and Representative
Director, Chief Executive Officer
Hiroshi Baba

Outside Director
Toshitaka Miyata

Career summary
April 1987

Joined the Company

June 2009 Director of the Company
April 2022

Career summary
June 2022 Director of the Company

President and Representative Director,
Chief Executive Officer of the Company

Outside Director
Hiroshi Takano

Outside Director
Satoko Ito

Career summary
June 2018 Director of the Company

Career summary
June 2019 Director of the Company

Director, Senior Managing
Executive Officer
Yutaka Shibanuma

Director, Managing Executive Officer
Katsuyoshi Sasaki

Career summary

Career summary

April 1982

April 1991

Joined the Company

April 2023

Joined the Company

June 2019 Director of the Company

June 2012 Director of the Company

April 2021

Senior Managing Executive Officer of
the Company

Managing Executive Officer of theCompany

Executive Officer
Tomoyuki Kikuchi

Executive Officer
Nagaaki Miyoshi

Career summary

Career summary

April 1990

Joined the Company

April 2014

Executive Officer of the Company

June 2023 Director of the Company

April 1991

Joined the Company

April 2018

Executive Officer of the Company

June 2023 Director of the Company■ Auditors
Full-time Auditor
Yoshimasa Inaba

Full-time Auditor
Akihito Tada

Career summary
April 1979 Joined the Company
June 2020 Auditor of the Company

Career summary
April 1987 Joined the Company
June 2021 Auditor of the Company

Auditor (Outside)
Hiroyuki Taketomo

Auditor (Outside)
Tsuchikazu Oonaka

Career summary
June 2021 Auditor of the Company

Career summary
June 2016 Auditor of the Company

Auditor (Outside)
Akira Tsujiuchi

Career summary
June 2020 Auditor of the Company

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Sustainability Report 2023

Corporate Governance
Skills Matrix for Directors and Auditors
The Company believes that to facilitate prompt decision-making regarding management, it is appropriate for
the Board of Directors to be composed of a small number of members. In appointing directors, we identified
the skills required to constitute the Board of Directors in light of the Group’s corporate philosophy andmanagement strategy, under the belief that the balance of knowledge, experience, and abilities of the Board of
Directors as a whole and the diversity of its values, will contribute to the sustainable enhancement of theCompany’s corporate value.
Knowledge, experience, and skills particularly expected
Name

Corporate
management

Business strategy,
Manufacturing, Environment andsales andtechnology, R&D
societymarketingInternationality

Finance andaccounting

Personnel, laborand human
Compliance andresources
risk management
development[Directors]
Hiroshi Baba✓

[Outside Director]
Toshitaka Miyata✓[Outside Director]
Hiroshi Takano

✓

✓

✓

✓
✓

✓

[Outside Director]
Satoko Ito✓

Yutaka Shibanuma✓

Katsuyoshi Sasaki✓

Nagaaki Miyoshi

✓

✓
✓

✓
✓

✓

✓

✓
✓

Tomoyuki Kikuchi

✓

✓

✓

✓
✓

✓

✓

[Auditors]
Yoshimasa Inaba✓✓

Akihito Tada
[Outside Auditor]
Hiroyuki Taketomo✓✓[Outside Auditor]
Tsuchikazu Oonaka[Outside Auditor]
Akira Tsujiuchi

✓

✓

✓

✓

✓

✓

✓
✓

Expected Roles of Outside Officers
The Company expects its outside officers to play a key role in its corporate governance by providing
valuable insights into the management of the Company based on their extensive knowledge andexperience, and to ensure the legality of decision-making from a neutral standpoint and fulfill a supervisory
function in management.
Name

Expected roles of outside officers[Directors]
Toshitaka Miyata

Hiroshi Takano

Satoko Ito[Auditors]
Hiroyuki Taketomo

Tsuchikazu Oonaka

Akira Tsujiuchi

Toshitaka Miyata held important posts over many years at the Ministry of Land, Infrastructure, Transport and Tourism.
He has broad insights into the development of social infrastructure and transport policy, and he has experience as
President and Representative Director of Metropolitan Expressway Co., Ltd. We expect that he will be able to offer
valuable advice concerning the Company’s management based on his extensive management experience.
Hiroshi Takano has served as Senior Managing Director of Toyota Tsusho Corporation as well as President and CEOof Toyotsu Logistics Service Co., Ltd. We expect that he will be able to offer valuable advice concerning themanagement of the Company based on his extensive management experience.
Satoko Ito has worked as a newscaster on news programs, held seminars and lectures for managers, and teaches at auniversity. In addition, she has deep knowledge in the fields of environment and energy and has served as a committee
member of related governmental agencies and organizations. Based on her experience and knowledge, we expect that
she will be able to offer valuable advice concerning the management of the Company.
Hiroyuki Taketomo has extensive management experience serving as a director of SEKISUI CHEMICAL CO., LTD.,
where he was primarily involved in human resources, legal affairs, and other administrative matters. Given thisextensive experience and knowledge, we expect that he will be able to offer valuable advice concerning the corporate
governance of the Company.
Tsuchikazu Oonaka is widely active in the legal field as a university professor and an attorney at law, and given his
extensive experience and knowledge, we expect that he will be able to offer valuable advice concerning the corporate
governance of the Company.
Akira Tsujiuchi has worked for Deloitte Touche Tohmatsu LLC for many years, and based on his extensive experiencein auditing various companies and his advanced knowledge of finance and accounting, we expect that he will be able tooffer valuable advice concerning the corporate governance of the Company.
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Sustainability Report 2023

Corporate Governance
Personnel Affairs and Remuneration Advisory Committee
To strengthen the Company’s corporate governance and further improve management objectivity, we haveestablished a voluntary Personnel Affairs and Remuneration Advisory Committee as an advisory body for
the Board of Directors.
Chaired by an independent outside director to enhance transparency and objectivity, the Personnel Affairs
and Remuneration Advisory Committee thoroughly evaluates and reports to the Board of Directors on
personnel matters and remuneration of directors in response to inquiries from the Board of Directors.
[Chairperson]
Toshitaka Miyata (Independent Outside Director)[Committee Members] Hiroshi Baba (President and Representative Director, CEO),
Hiroshi Takano (Independent Outside Director),
Satoko Ito (Independent Outside Director), Tomoyuki Kikuchi (Internal Director)[Observer]
Tsuchikazu Oonaka (Independent Outside Auditor)
As of June 27, 2023

Details of discussion at the Personnel Affairs and Remuneration Advisory Committee
Matters related to personnel affairs

Matters related to remuneration

1. Policy of director personnel change

1. Director remuneration policy

2. Appointment/dismissal of directors
2. Remuneration system for directors
3. Selection/dismissal of the representative director and3. Remuneration of individual directors
directors with management positions
4. Appointment/dismissal of executive officers

4. Remuneration system for executive officers
5. Remuneration of individual executive officers

Officer Remuneration■ Policy for Determining Director Remuneration and Other Compensation
To establish a remuneration system that is linked to shareholder returns and serves as an incentive tocontinuously enhance corporate value, a discussion was held at the Personnel Affairs and Remuneration
Advisory Committee Meeting to draft a policy for determining the details of remuneration and othercompensation for each individual director (the “Determination Policy”), and the Board of Directors, upon
careful consideration of the Committee’s report, resolved to adopt the Determination Policy.
[Basic Policy]
The Company’s remuneration system for directors is linked to shareholder returns to serve as anincentive to sustainably enhance corporate value, and the basic policy upon determining the
remuneration of individual directors is set appropriately based on their position, responsibilities, andother relevant factors. The remuneration for directors responsible for business execution consists ofbasic remuneration, bonuses, and restricted stock compensation, while the remuneration for outside
directors consists only of basic remuneration, which is paid within the range of the total amount of
remuneration approved at the General Meeting of Shareholders.
[Policy for Determining the Details of Individual Basic Remuneration (Monetary Remuneration)]
The basic remuneration for directors shall be determined within the remuneration limit approved at theGeneral Meeting of Shareholders, based on monthly remuneration per their position and responsibilities,
and shall be revisited as necessary in consideration of business performance, the level of othercompanies, social conditions, and other factors.

■ Officer Remuneration
Classification

Total amount of
remuneration

Directors(FY2022)

Total amount of remuneration by type

Number of
eligible officers

Basic
remuneration

Bonus

Restricted stockcompensation

129 million yen

57 million yen

60 million yen

11 million yen

6

Auditors

18 million yen

18 million yen

—

—

2

Outside Officers

55 million yen

55 million yen

—

—

7

(*) Total amount of remuneration does not include employee salary, etc., of directors who concurrently serve as employees.

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Sustainability Report 2023

Corporate GovernanceStatus of Reducing Cross-Shareholdings
To ensure sustainable growth into the future, the Company recognizes that cooperative relationships withvarious companies are indispensable in many areas, including production, development, and sales. To thisend, we will pursue a policy of holding shares in business partners only when the Company deems it
beneficial and essential for creating new business fields and establishing and strengthening business
relationships. The rationale for holding these assets is closely evaluated and reviewed regularly, considering
the purposes for which they are held, the benefits and risks associated with holding these assets, and thecost of capital.
In FY2022, the Company sold three
Status of Cross-Shareholdings
listed stocks (including partial sale) for(Listed Stocks)
a total sale value of 1,103 million yen.
(Unit: millions of yen)
(Quantity)
As a result, as of March 31, 2023, the
26
30
15,000
24
23
22
number of listed stocks held by the25Company for purposes other than pure20
10,000investment stands at 22, and the
15
8,762
8,220
8,435
10,80110
5,000
amount recorded on the balance sheet5
is 8,220 million yen.
0

FY2019FY2020

FY2021

Carrying value on balance sheet

FY20220

Number of issues(Reference) Shareholder Returns
Acquisition and cancellation of treasury stock
The Company repurchased its shares in FY2022 as follows as part of its efforts to execute flexible
capital policies in response to changes in the business environment while improving capital efficiency
and increasing earnings per share.
[Acquisition of treasury stock]

Number of shares

Total value (yen)Status of resolutions at the Board of Directors
meeting (April 28, 2022)

1,000,000(Maximum quantity)

2,100,000,000(Maximum value)

810,000

1,409,590,000

81.0

67.1

Treasury stock acquired
Acquisition implementation (%)

In FY2023, the Company also repurchased and canceled treasury stock as follows.
(As of September 30, 2023)[Acquisition of treasury stock]

Number of shares

Total value (yen)Status of resolutions at the Board of Directors
meeting (July 31, 2023)

8,500,000(Maximum quantity)

20,400,000,000(Maximum value)

7,500,000

16,740,000,000

88.2

82.1

Number of shares

Total value (yen)Canceled shares (May 25, 2023)

2,000,000—

Canceled shares (September 15, 2023)

8,000,000—

Treasury stock acquired
Acquisition implementation (%)[Cancellation of treasury stock]

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Sustainability Report 2023

SJC Group Sustainability Report 2023
(Excerpt version)
Sekisui Jushi Corporation
2-4-4, Nishi-Temma, Kita-ku, Osaka-shi, 530-8565
TEL 06-6365-3204
https://www.sekisuijushi.co.jp/(Issued October 2023)