Dainichiseika Corporate Report 2022

Website Information
More detailed corporate information,
IR information, and information on CSR
activities are reported on our website.

■

Dainichiseika Corporate Website

https://www.daicolor.co.jp/english/■

IR Information

https://www.daicolor.co.jp/english/
ir/index.html■

CSR Activities

https://www.daicolor.co.jp/english/
csr/index.html

Communication Tools
Corporate ProﬁleProduct Information
2023-2024

Dainichiseika Color & Chemicals Mfg. Co., Ltd.
Public Relations Division
1-7-6 Nihonbashi Bakurocho, Chuo-ku, Tokyo 103-8383, Japan
Tel.+81-3-3662-1638 Fax. +81-3-3669-3924

2022

CONTENTS

What kind of company is Dainichiseika?
● Outline of our product range and applicable

E

usage

・Segments and Products● Core Technologies and Orientation of R&D
・Technology behind our products・Research and Development at Dainichiseika
・Value provided to society
・Environmental and Social Contributions throughBusiness and Products● Looking back on the company’s trajectory
・Dainichiseika’s progress to date

03
09
10
11
13

G

Environment

Governance● We aim to improve our environmental

performance

・Environmental Management

29● Tackling Climate Change from a Risks andOpportunities Perspective

・Approach to TCFD Recommendations

31● Responsible management as a chemical
15

manufacturer

・Management of Chemical Substances

DATA

33

● Corporate Governance・Corporate Governance System● Company Profile / Basic Stock Information 46

Dainichiseika in the future● President to Everyone
・Top Message
17● We aim to contribute to asustainable society
through our business・Corporate Philosophy /Precept/Our business creed,“Full Achievement”
19
・Management Policy andStrategy
20
・Segment Strategy● Dainichiseika’s social responsibility and ourway of thinking about the environment,
society and governance.

25● We will set critical issues and take actively

initiatives to preserve the global environment
as well as to solve social problems.

・CSR and ESG Materiality

01● Stakeholders of Dainichiseika

34● Learn about our customer relations
・Quality Assurance

35● Learn about our employee relations
・Industrial Safety and Health・Logistics / Labor-Management Relations
・Human Resource Development and Utilization
・Diversity

36
37
38
39

suppliers

23

26

・CSR Procurement Initiatives / Prevention of Child

Labor and Forced Labor / Responsible Mineral
Procurement48■ Website Information

More detailed corporate information, IR information, andinformation on CSR activities are reported on our website.

Dainichiseika
Corporate Website

IR Information

CSR Activities● Dialogue with Shareholders and Investors 45● Learn about our relationship with our

CSR and ESG Initiatives

・CSR and ESG that we think aboutS● Group Network

43● Introduction of Board Members
・List of Directors, Corporate Auditors and Titled
Executive Officers / Skill Matrix of Directors andTitled Executive Officers
44
・Reasons for Appointment of Independent Outside
Directors and Independent Outside Auditors andTheir Main Expertise45

Society47

41● Compliance
・Promotion Activities / Compliance with Antitrust andSubcontracting laws / Prevention of Corruption andBribery / Internal Reporting System / Tax
Compliance42● Risk Management
・Risk Management Survey / BCP Measures /Information Security● Consolidated Financial Highlights

40

On the Occasion of the Publication of
the Dainichiseika Corporate Report
Dainichiseika was founded in 1931 and succeeded in domestic production of pigments, which at that time relied on
imports. Since then, the company has paid attention to theneeds of society and technological innovation, establishedcore technologies in pigment synthesis, dispersion processing, and resin synthesis, and developed overseas bases in Asia, the United States, and Europe, growing into achemical manufacturer that produces high value-added materials that meet social and environmental needs.
Our strengths lie in its technological, sales, and production capabilities and their strong collaboration, which enable us to meet the needs of our customers with the attention to detail that we have acquired through innovation overmany years.
In the medium-term management plan announced in August 2021, we set our mission for the next 10 years as enhancing our corporate value by strengthening our technological capabilities, promoting ESG management, andexpanding our overseas business as our basic strategies
and contributing to the realization of a sustainable society
by leveraging our technological capabilities. 2022 is thesecond year of the plan. The social economy faces major
challenges to overcome, such as the prolonged Corona disaster and Russia’s invasion of Ukraine, but even underthese circumstances, we will strive to achieve our plans bymobilizing the strength of the entire group and sincerely
meet everyone’s expectations through preserving the global environment and solving social issues, and thereby further enhance our corporate value. We highly appreciate
your continued support even after this.

Editorial Policy
We have published “an Environmental Report” Reportsince the fiscal year ended March 31, 2006, and “a Socialand Environmental Report” since the fiscal year ended
March 31, 2011. From the fiscal year ending March 31,
2014, we have changed the name of the report to“Corporate Report” and added the role of a corporate
brochure, and from the fiscal year ending March 31,
2022, we have enhanced the introduction of initiatives
related to ESG and SDGs in light of social demands.
This report is designed to provide stakeholders with aneasy-to-understand overview of our business activities
as well as its approach to the environment, society,governance, and other issues. After a resolution at theBoard of Directors meeting, the information is disclosed
in booklets and electronic data.
Scope of Reporting
The entire Dainichiseika group are covered.
Reporting period
April 1, 2021 - March 31, 2022
*However, some activities outside of this period are also
included.
IssuedJapanese edition published September 2022 (next issue
scheduled for September 2023)
Reference Guidelines● JSA[ISO 26000:2010 Guidance on social responsibility]● Ministry of Economy, Trade and Industry (METI)[Guidance on Integrated Disclosure and Dialogue for
Value Creation]● GRI Standard (Sustainability Reporting guideline)02

What kind of company is Dainichiseika?

Dainichiseika in the future

CSR and ESG Initiatives

DATA

Segments and Products
Taking the opportunity of the formulation of its medium-term management plan (announced in August 2021),
we have been developing its business under a new segment structure from the ﬁscal year ending March 31,
2022, in order to promote business strategies for medium- to long-term growth, such as rebuilding future
core businesses, strengthening product development, and fostering new businesses.

Mass colorants for synthetic fibers
and Textile priting agents

Pigments and Processed pigments

̶ Pigments and Pigment-processed Products ̶Businesses
and ProductOverview

FutureDevelopment

This segment is engaged in the manufacture and sale of pigmented colorants for fibers,colorants for plastics, resin compounds*1, pigment dispersions, and functional materials, with afocus on pigments and secondary processed products of pigments.
● Pigments: Inorganic and organic pigments*2 and processed pigments*3 used in a wide range
of applications, including paints, printing inks, and information displays and records.
● Specialty Colors: Colorants for a wide range of industrial applications, including mass
colorants for synthetic fibers prior to spinning, pigment textile printing agents*4, colorants forpaper manufacturing, and colorants for construction materials.
● Plastics and Colorants: Colorants and functional materials used for various resins such as
polyvinyl chloride resins, commodity resins, and engineering plastics.

This segment provides high value-added products for various application fields by highly
controlling particle shape and surface properties based on pigment synthesis technology, andprovides colorants for various synthetic resins to various industrial fields in Japan and overseas
based on dispersion processing technology. We are also engaged in the development andcommercialization of various functional materials through the multifaceted deployment of ourtechnologies.
Backed by these technologies, our strength is its ability to propose and provide high valueadded products in a variety of industrial fields by establishing a system that allows us toaccurately and meticulously identify customer needs and promptly expand production and sales.

1

We will promote technological development to meet the needs of markets expected
to grow, such as IT, electronics, and mobility.

2

We will promote the development and sales expansion of products that take into
account the reduction of environmental impact and resource recycling.

3

We will build a stable global supply system by reinforcing and restructuring ourmanufacturing bases in Japan and overseas, and propose high value-added products
to society through collaboration with our customers.

*1 Resin compound: A molding material in which additives such as pigments and reinforcing agents are kneaded into plastic.
*2 Inorganic/organic pigments: Pigments, which are the elements of color, include inorganic pigments made of inorganic materials such as metals and organic pigments
made of organic materials.

03

Colorants andFunctional agentsfor Plastics―COMPOUNDS

Paints and printing inks
Toner and inks for IJ printers● LCD color filters● Construction materials, daily
necessities, paper products, etc.

Vehicles and industrial materials
Interior fabrics● Apparel products● Paper, etc.

●

●

●

●

VehiclesHome appliances, daily necessities
and outdoor goods● Industrial materials, agricultural
materials and construction materials● Food packaging, toiletries, etc.
●●

Main Applications

Characteristicsof ProductDevelopment
and Strengths
in Business

Main Products

Color & Functional Products

Colorants andFunctional agentsfor Plastics―MASTERBATCHES*3 Processed pigments: Since pigments are insoluble in water or oil or hard to be soluble, dispersion processing requires a dispersion technology that takes advantage ofthe characteristics of pigments. Processed pigments are products created by such dispersion technology.
*4 Mass colorants and Textile printing agents: Mass colorants are colorants adding color to resin before spinning. Textile printing agents are materials used for printing on
cloth.

04

What kind of company is Dainichiseika?

Dainichiseika in the future

CSR and ESG Initiatives

DATA

Segments and Products

Urethane Resins̶ Synthetic Resins and Specialty Coatings ̶Businesses
and ProductOverview

FutureDevelopment

051

Focusing on such growing markets as IT & electronics, mobility, and energy, we will
promote technological and application development to improve our market share andpartnership with customers.

2

We will enhance development of water-based and biomass-based products, andpromote energy conservation in the production process.

3

We will build a stable global supply system by establishing or reinforcing ourmanufacturing bases in Japan and overseas, and promote the development of highvalue-added products through open innovation.

*1 UV- and electron beam curable coating agent: An ink or coating agent that undergoes a chemical reaction under the energy of ultraviolet or electron beams, instantly
changing from a liquid to a solid.
*2 Chitosan: A naturally occurring material found in the shell skins of arthropods and crustaceans such as crabs and shrimps. It is a substance obtained by alkali treatmentof polysaccharides whose chemical structure resembles cellulose.

Synthetic leather (furniture, clothing)
Vehicle interior materials, construction
materials and daily necessities● Electric wires, cables and belts● Cosmetics, etc.
●

●

●

●

Cosmetics
Wastewater purification, water
treatment, etc.

LCD panels
PCs and office equipments● Decorative films, etc.
●●

Main Applications

Characteristicsof ProductDevelopment
and Strengths
in BusinessThis segment is mainly engaged in the manufacture and sale of synthetic resins and specialty
coating agents, UV- and electron beam curable coating agents*1, urethane resins, and polymers
derived from natural products.
● Fine Polymers: Urethane resins and colorants used for synthetic leather and molded products,
special coating agents and adhesives that impart functionality, and imide resins representing
heat-resistant resins.
● Chemical biology: Chitosan*2 made from crab shells and other natural polymers with active
ingredients extracted from various marine organisms and natural products.
● Coatings: UV- and electron-beam curable coatings and design/functional coating agents usedin the information/electronics, automotive, and interior construction materials fields.

Based on resin synthesis technology, this segment is mainly engaged in the development
and commercialization of urethane resins and materials using natural product-derived materials.
Based on its dispersion processing technology, the segment also provides various coating
agents to various industrial fields in Japan and overseas.
Our strength lies in our ability to propose and provide highly original products that meet theneeds of our customers, based on our accumulated technologies and know-how, as well as thedevelopment of domestic and overseas bases.

Coating agent

Main Products

Polymer & Coating Materials

Natural Product Polymers

06

What kind of company is Dainichiseika?

Dainichiseika in the future

CSR and ESG Initiatives

DATA

Segments and Products

Gravure inks / flexographic inks

̶ Inks for Packaging and Advertising Publications ̶

Businesses
and ProductOverview

This segment develops, manufactures, and sells a wide range of gravure inks and offset inks
for various applications, with a focus on packaging and advertising publication inks.
● Gravure inks: Gravure printing inks, coatings, and flexographic inks that can be used forprinting on a variety of substrates.
● Offset inks: Offset printing inks and special inks used for paper media such as newspaper
inserts, flyers, books, and packaging materials.

This segment provides general-purpose printing inks based on dispersion processing
technology. In addition, we are developing and commercializing specialty inks and coatings byutilizing our proprietary formulation and other technologies.
In gravure inks, we can offer integrated proposals for inks, coatings, and adhesives fordiverse applications, including food packaging materials, construction materials, and industrial
materials, based on our network and knowledge cultivated through collaboration with a wide
range of industries.
In offset inks, besides the basic and frequently used colors of yellow, magenta, cyan, andblack (CMYK), we offer metallic inks with excellent luminosity, design and functional OP
varnishes, and other products that realize rich printing expression.

1
FutureDevelopment

2

3

07

Food and Daily Necessities
Packaging Materials● Food trays, etc.
●

Beverage bottle labels
Industrial and construction
materials● Cardboard and packaging materials● Toiletries, etc.
●

●

●

●

Advertisements and books
Packaging, etc.

Main Applications

Characteristicsof ProductDevelopment
and Strengths
in Business

Main Products

Graphic & Printing Materials

Offset inks

In addition to environmentally friendly inks such as water-based inks and biomass inks,
we will develop and expand sales of inks that further contribute to the environment,such as inks with gas barrier properties and inks that enable recycling of packages
and labels.
In gravure inks, we will promote product development to meet demand in new
fields such as IT, electronics, and medical care, and further strengthen our overseas
business, especially in the fast-growing Asian region. In addition, we will aim to further
improve our services to customers as well as increase production capacity with the
opening of the Bando Manufacturing Plant.
In offset inks, we will expand sales of high-value-added products that can bedifferentiated, such as metallic inks and special OP varnishes, which are lesssusceptible to the shrinking commercial printing market, and we will propose productswith various functions other than color expression as the shift from plastic to paper
continues to progress. In addition, as the shift from plastic to paper continues, we willpropose products with various functionalities other than color expression.

08

What kind of company is Dainichiseika?

Dainichiseika in the future

CSR and ESG Initiatives

DATA

Technology behind our products

Research and Development at Dainichiseika

3 Core Technologies

We aim to contribute to a sustainable society through researchand development in growth areas

Our technology began with the synthesis of high-quality, highly functional pigments, evolved to the stable dispersionof pigments in various materials to improve their coloring and functionality, and then to the acquisition of thetechnology to synthesize the synthetic resins themselves that form the base of such dispersions. Our technologicalstrength lies in its ability to create colorants and functional materials that are unique to our group and that carefully
meet the needs of our customers through the interplay of these three technologies as a comprehensive capability.

Organic/Inorganic synthesis
and Pigment treatment technology

Dispersion Processing
Technology

Pigment synthesis is a technical fieldthat makes comprehensive use of knowledge of physical chemistry and interfacialchemistry, with centering in coloration
theory of chemical substances andchemical bonds. In addition to improving dispersibility and coloration from theperspective of coloring, we also have thetechnology to chemically treat pigment
surfaces to add special functions, such as
pigments for color filters in LCD panels.

Dispersing pigments that are insoluble in water or oil evenly and stably in thetarget material requires a great deal ofknow-how. We have a wide range of dispersion processing technologies for all
types of materials. We apply this dispersion processing technology not only tocoloring but also to imparting functions
such as electrical conductivity, flame retardance and strength in order to provide
materials with added functionality.

Resin Synthesis Technology
We have extensive knowledge ofraw materials such as urethane resins,
imide resins, acrylic resins, and natural
product-derived polymers, as well as
resin design and resin synthesis technologies to match target performance.
Our strength lies in our ability to provide
high value-added products that matchthe needs of our customers by utilizing
this technology and being able to provide integrated production to the final
product.

By analyzing three core technologies of ours from the perspectives of “seeds” and “needs,” and by
aggressively investing funds and human resources in four target areas and markets with potential fordevelopment and growth, we aim to secure a technology-driven competitive advantage.

Roadmap Realized by Deepening Our Three core Technologies
Functional materials for IT and electronics
Secondary battery materials, electrically conductive materials,
thermal conductive materials, functional polymers,
high added value pigments and dispersions

Newly developed markets

Life sciences and personal care
Biodegradable fine particles, cosmetic materials

Mobility

Packaging

Polyurethane, acrylics, silicone polymers,
Lightweight and high strength resin compounds

Continued development markets

Gas barrier inks, recyclable inks,
biomass inks

Target areas / markets

Seeds

Needs

Joint research and creation of new technologies through open innovation

Focus on products That contribute to ESG efforts

Three core technologies
Pigment synthesis and surface treatment

Agglomerated

Dispersed

Formulation and dispersion processing

Continued participation in the exhibition related to new functional materials

Deepening Core Technologies to Contribute to ESG
It is our top priority that we contribute to society’s needs (ESG) by reevaluating our own technologies with technology management methods. By combining open innovation with inter-segment synergies and intellectual property strategies, we evaluate market size, profitability, andgrowth potential, and tackle to develop technologies that deepen the three core technologies
we own.

Aggressive promotion of Intellectual Property (IP) Strategy

We continuously exhibit at the “Neo Functional Materials Expo” what is called, a comprehensive
exhibition of functional materials that creates new added value by selecting technologies thatmeet the needs of the times, such as contributing to a sustainable society, from the many
research themes being conducted by our R&D department. The exhibition not only introduces
the latest technologies of ours, but also provides an occasion to develop and discover new
applications and research issues through interaction with our customers.

Open innovation

Synergies among segments

Our product development excels in solution-oriented development that precisely meets customer needs, and we havelong been engaged in technological exchange and joint researchwith our customers.
We are also actively engaged in R&D through industry-academia collaboration, including the commercialization of academic research conducted by universities and other research
institutions.

Our R&D system is composed of the R&D Structure conducting basic research for the entire Group and the TechnicalR&D Departments in business divisions conducting R&D tailored to the needs of each segment.
Our strength lies in its technical organization within the business divisions, which enables flexible R&D in coordination withsales and production, while in order to actively utilize the technologies accumulated in the business divisions as assets forthe entire Group, it is necessary to share research themes andpromote the exchange of researchers.
To enhance such synergy among segments, we have organized several specialized research divisions in the R&D Structure to deepen collaboration between the R&D Structure andthe Technical R&D Departments in each business unit and tofurther deepen our core technologies.

Contribution

In addition to the development of our own technologies, we are considering the acquisitionof intellectual property necessary for our business, including joint research with universities
and customers through open
innovation, the creation of new
Seeds
R&D Division
Yoshitaka Koshirotechnologies, and the acquisition
SocialRepresentative Senior Executive Director,of rights to use patents held by
Joint research and creation
Head of R&D Structure
issuesofnewtechnologies
throughother companies. In addition, we
open innovation
work in unison with management,
Three
core
business, and research strategies
technologies
to maintain and improve the safety, superiority, sustainability,
Deepening of core technologies
and growth of our business. As for IP strategy, in order to safely◎Pigment synthesis andand efficiently implement product protection, IP protection, andsurface treatment
acquisition of new IP, a Patent Committee consisting of developNeeds◎Formulation anders from all business segments has been established to sharedispersion processing
Synergies between segments
ESG
information related to product development. Furthermore, an IP◎Polymer synthesis
through sharing of themes
search system has been introduced for the main purpose of IP
and exchange of techniciansmanagement and patent inventory.

09

Polymer synthesis

STIC, a new center for
open innovation−Workspace like a cafe

The employment information page of our corporate website includes
project stories of our staffs dedicated to the research and development,
though the same in English is not available for now. (Japanese Only)

10

What kind of company is Dainichiseika?

Dainichiseika in the future

CSR and ESG Initiatives

DATA

Value provided to society
Value Creation Process
Our strength lies in the “Cycled-trinity management,” in which we accurately grasp “customer needs,” give
shape to ideas by utilizing our “three core technologies” that we have been reﬁning since our founding, andprovide a stable supply of high-quality products through our “production site capabilities” deployed both inJapan and overseas.
We aim to realize a sustainable society and sustainable growth by contributing to society and the environment
through manufacturing, as well as by providing solutions to our customers through cooperation between oursales and technical divisions, and between our technical and production divisions.

Long-term Vision

Missions
Continue contributing to society by leveraging ourtechnological capabilities in niche markets
Engage in new value creation and problem-solving aimed
at realizing a sustainable society

Technology, customer responsiveness, and production capabilities cultivatedover 90 years in businessMedium- to Long-term Basic Strategy

Social issues that Dainichiseika take initiatives●

Prevention of global warming●

Strengthening social infrastructure●

Protection of the water environment●

Promotion of resource recycling●

Reduction of environmental impact●

Promoting agriculture and reducing food loss

Three coretechnologies
Creating new value by
deepening and integrating “pigment synthesis,”“dispersion
processing,” and “resin synthesis” technologies with a focus on
pigments and resinsGiveshape toyour ideas

e

s

du

S al

Responsivenessto customer needsc t ionchnology
Te

Needs

o
Pr

ROE of at least

9

5-year target(FY ending March, 2026)

Sales

￥

3

-year target(FY ending March, 2024)

Sales

￥

%

TargetROA of at least5%

132.0billion Operating proﬁt ￥12.0billion
125.0billion Operating proﬁt

8.7billion￥

The “Three Pillars” for Realization
Secure a competitive
advantage throughtechnology-initiative

Promote ESG-focusedmanagement that aims
to realize a sustainable
societyReinforce our businessbase by expanding
overseas business;increasing overseas sales

Production Site
Capabilities
Stable supply ofhigh-quality products● Global expansion
with 14 domestic
and 12 overseas
production sites

SolutionsContributing to society and the environment
through manufacturing

11

Target・Growth of existing businesses
・New technology development●

Wide range of products● New product development● Proposal of high valueadded materials●

Management emphasizing capital efﬁciency

Others：17%
Building
Materials andEquipments：
9%
Industrial
Materials：
14%
Transportationequipments：
19%

Others：6%
Packaging：
22%

Industries
to sell

Asia：

20%

Informationand Electronics：
19%

FY ending March, 2022
(total of domestic and overseas sales)Countries
and Regionsof SalesDestination

Japan：

74%

FY ending March, 2022

12

What kind of company is Dainichiseika?

Dainichiseika in the future

CSR and ESG Initiatives

DATA

Environmental and Social Contributions
through Business and Products
We have been taking initiatives to resolving environmental and social issues throughout the value chain
through our business activities.

Contributing to the Environment

In the phase of researching and developing products
We conduct research anddevelopment taking a wide
range of social spheres into
consideration so as to offer theenvironmental performance
demanded by the world.

Research &Development

Conductive Materials(Carbon Dispersions)
Achieved high dispersion of hardto dispersible carbon nanotubes
by applying pigment dispersion
technology, our core technology● High concentration and low viscosity enable a high degree of
flexibility in application●

Raw material
procurement

In the phase of researching and developing products

Contributing to Society

We conduct research and development from various perspectives
to help solve social
issues and mitigate impacts.

Gas barrier
properties Coating
Materials and Inks
We contribute to the
reduction of food loss
by developing barrier
coating materials forpaper and film withhigh gas barrier properties.

In the phase of business activities
We are working to reduce thegreenhouse gases and waste
emitted by our company andto reduce our impact on theenvironment so as to contribute to the realization of adecarbonized, resource-recycling society.

Business Activities(including sales and administration)

In the phase of using our products
Environmental Load
Reduction Activities
Energy conservation activities in
production and distribution processes● Active use of renewable energy● Reduction of waste and promotionof recycling● controlled emissions of VOCs
(volatile organic compounds) andother hazardous substances●

We offer a variety of products
to contribute to the realizationof a decarbonized and recycling-oriented society at ourcustomers.

Transportation

Product Use

Pigmented colorants foron-demand printing
Products for on-demand printing(inkjet and laser printers) having
less impact on the environment,such as energy saving during printing and resource saving in printing
materials

DisposalIn the phase of business activities

Consideration for Logistics safety and Logistics crisis avoidance

In the phase of using our products

We are working to
improve occupational
health and safety andwork-life balance.

As a shipper, we take the necessary precautions
to reform the work style of truck drivers and tocomply with laws and regulations by thoroughly understanding the conditions of the work environment.

To ensure the safe use of our products throughout their entire life cycle, we strive to accurately
identify and provide information on chemical
substances contained in our products.

For details, please refer to P.36 for “Occupational Safety and
Health” and P.38 for “Human Resource Development andUtilization.”

For details, please refer to P. 37 for “Logistics.”

For details, please refer to P.33 for “Management of Chemical
Substances.”

In the phase of procuring raw materials
We conﬁrm through supplier surveys that our raw
material suppliers are not complicit in human rights
abuses such as forced labor and child labor.
For details, please refer to P. 40 for “CSR Procurement Initiatives.”

13

14

What kind of company is Dainichiseika?

Dainichiseika in the future

CSR and ESG Initiatives

DATA

Dainichiseika’s progress to date
Our logo, established in 1951, is based on the motif of an amphibious“pelican” and “the earth “. It represents the desire of our founder andemployees to be like the king of waterfowls, carrying beautiful colors,
walking all over Japan and spreading its wings to the world.

Yoshihiro Takahashi, founder of Dainichiseika, believed that “it is our wish that our lives be enveloped by thecolors we love”. We have been conducting research and development to fulﬁll our customers’ wishes for“more ﬂexible coloring”.

Founded with the aim of domestically producing
pigments

Technical development and production systems
were established and penetrated into thedomestic market

Yoshihiro Takahashi, the founder of the company, was concerned
about the fact that most pigments were imported before World War
II, and founded Saika Ganryo L.P. in 1931 with the aim of domestically
producing pigments. He believed that pigments were difficult to use as
they were and that they had to be made into an easy-to-use form in orderto popularize them, so he began research and development.
In 1944, the company merged with Two other companies in theindustry acquired and Company name changed to Dainichiseika Kogyo
k.k. (that is. Dainichiseika Color & Chemicals Mfg. Co., Ltd.), forming thebase of the company as we know it today.

In the vicinity of the main gate of Tokyo
Production Plant around 1950

After World War II, we made a fresh start and set “synthetic
resin colorants,” “textile printing agents,” and “mass colorants
for synthetic fibers” as the three pillars of our postwar plan.
By 1953, the three pillars of technological development
had been established, and in 1968, the Tokai Plant (now theTokai Factory) was completed. It was here that we began topenetrate the domestic market in earnest.

Expanding “Domestically Produced”
Technology into Overseas Markets
Since the 1980s, as Japanese companies have been
aggressively expanding overseas, we have been expanding our
deployment area to meet their needs.
Today, we have globally 17 sales and production bases in 11
countries and regions, and have built a system to meet thedevelopment needs of our customers around the world.

90 Years since founded, Tracks of “Value Creation”

1930‘31 Founded Saika Ganryo L.P.

‘48 Developed and launchedcolorants for polyvinyl chloride(PVC). Entered the plastic
colorant business.

1960‘69 Shares listed on First Sectionof the Tokyo Stock Exchange‘60 Opened Osaka Plant. (currently‘61 Listed on Second Section of theTokyo Stock Exchange.

‘78 Opened Shikoku Office.

‘62 Opened Hong Kong
Founder Yoshihiro Takahashi‘63 Opened Narita Plant. (currently‘38 Began full-scale productionof milori blue, chrome yellow,
fanal pigment, and azo
pigments.

Hi-Tech Chem Co., Ltd.)

Head Office at that time

‘39 Company renamed Saika
Shikiso Kogyo Co., Ltd.

1940
‘44 Acquired two other companies
in the same industry andchanged company nameto Dainichiseika Color &Chemicals Mfg. Co., Ltd.

Entered the offset ink business.

‘45 Head Office (Chuo-ku, Tokyo)
and Tokyo Plant begin
operations. (currently Tokyo
Production Plant)‘47 Opened Sapporo Office andPlant. (Later renamed Hokkaido
Dainichiseika Co., Ltd. Mergedwith the Company)

15

1950
‘50 Opened Osaka Office. (currently
West Japan Head Branch)

Developed and launched vinyl
inks. Entered the gravure ink
business.

‘53 Entered new business: mass
colorants for synthetic fiber
and woven fabric printing.

‘57 Established UKIMA Chemicals& Color Mfg. Co., Ltd.

‘64 Opened Nagoya Office.

(currently Central Japan Head
Branch)Established Taiyo Kako Co.,
Ltd. (currently Dainichi Color
Composite Co., Ltd.)‘67 Entered the polyurethane
business.

Opened Shizuoka Office.

‘68 Opened Tokai Plant. (currently
Tokai Production Plant)

Opened Sendai Office.
(currently Sendai Branch)
Opened Okayama Office.
(currently Okayama Branch)

Chemicals Mfg. Co., Ltd.
Established Dainichi
Plaboard Co., Ltd. (currently
Dainichiseika Kako Hanbai
Co., Ltd.)

Osaka Production Plant)

Representative Office.
(currently Dainichiseika (HK)Ltd.)

‘77 Established Sambo Fine(currently Shikoku Branch)

Tokai Production Plant at
the completion of phase 1
construction

Opened Kyushu Office.
(Currently, Kyushu
Dainichiseika Co., Ltd.)
Established Nagoya Kako Co.,
Ltd. (currently Togo Production
Plant)‘72 Opened Kawaguchi Plant.
(currently Kawaguchi
Production Plant)(Thailand), Ltd.

Established Kanto
Dainichiseika Co., Ltd.
(currently Dainichi Color
Composite Co., Ltd.)
Established Dainichi System
Finance Co., Ltd. (currently
D.S.F. Co., Ltd.)
Established Plalloy MTD. B.V.

1980
‘83 Opened Hiroshima Office.

(currently Hiroshima Branch)‘84 Established Daicolor Italy S.R.L.
‘85 Opened Hokuriku Office.

(currently Hokuriku Branch)

1970‘89 Established Dainichi ColorEntered the natural polymer
business.

1990‘97 Established Dainichiseika (HK)Colouring Co., Ltd.

‘16 Converted AEOLIAN

Corporation into a subsidiary.

2000‘03 Established Daicolor

Shanghai Mfg. Co., Ltd.

‘05 Established Dainichi (Shenzhen)
Trading Ltd.

‘20 Established Bando Production
Plant.

Vietnam Co., Ltd.

‘94 Established Color Planning
Center Inc.

Established Shanghai Mitsui
Plastic Compounds Ltd.

‘95 Established PT. Hi-Tech Ink
Indonesia.

‘88 Established Hi-Tech Color, Inc.

‘21 Established Sakura Technology
Innovation Center (STIC).

‘07 Established Kyushu Kako Co.,Ltd.

‘08 Established Dainichi Color India
Private Ltd.

‘22 Reclassified to Prime Market

Industry Co., Ltd.

in accordance with thereorganization of the Tokyo
Stock Exchange’s market
segmentation.

‘75 Announced CCM technology
for plastics.

agent business.

2020‘06 Established Dainichi Color‘73 Established Tai Chin Chemical‘76 Entered the UV curable coating

2010

Established Dongguan Dainichi
Chemical Manufactory Co., Ltd.

‘96 Opened Shiga Production Plant.

Established Dainichiseika Color& Chemicals Mfg. Co., Ltd.
Europe Representative Office.

16

What kind of company is Dainichiseika?

TOP MESSAGE

As a technology-oriented
chemical manufacturer
with a focus on ESG,
we will contributeto the realizationof a sustainable society
President & Representative Director of Dainichiseika, Japan
Head of Dainichiseika GroupKoji Takahashi
Taking on the challenge of creating new valuethat meets the needs of society and theenvironment on the strength of innovation
through technology
What are the strengths of Dainichiseika that havebeen accumulated over its long history since its
establishment?
Our company was founded back in 1931. We started withthe goal of domestically producing pigments, which until thenhad relied on imports. Our history of over 90 years since ourfounding is our company’s treasure, and we are very confident
that we have earned the trust of our customers around theworld.
Since our founding, we have been quick to pay attention
to technological innovations in the world and have focusedon establishing three core technologies: pigment synthesis,
dispersion processing, and resin synthesis, with a focus on
pigments and resins. We believe that our strength lies in theinnovations we have achieved through the technologies wehave accumulated over the years.
Specifically, we began producing pigments in 1938 andentered the pigment processing field in the 1940s. In the
1960s, we expanded its business into the non-color fieldand embarked on overseas expansion. Since the 1980s, thecompany has been developing eco-friendly products andstrengthening its overseas production bases.
During that time, each of our technical, manufacturing, andsales divisions pursued innovations that anticipated the changesof the times. Today, as a chemical manufacturer that “producescoloration” and “gives shape to ideas,” we have grown into a
company that produces high value-added materials that meetthe needs of society and the environment. From my point ofview, there are still issues to be addressed, but as a B to B
chemical manufacturer, I think we have a high reputation.

Since around 2011, when you took ofﬁce aspresident, we have been required to respond to
new social issues such as ESG and sustainability.
How have you responded to this?
The theme of contributing to society through business is
a tradition that has been handed down from generation to
generation. It is by no means a new tradition. For example,

we have been developing eco-friendly products since the1980s and expanding our ESG contribution products since thelate 1990s. We were also quick to formulate a 10-point basic
CSR policy, and our Corporate Philosophy and Precept firmly
incorporate ESG concepts.
In the medium-term management plan formulated for 2021,
we set forth two missions as “where we want to be in 10
years”. The one is to continue contributing to society in nichemarkets by leveraging our technological capabilities. The otheris to solve issues and create new value toward the realization ofa sustainable society. To achieve this, we have set forth a fourbasic strategy: capital efficiency-oriented management, securing
a competitive advantage by leading in technology, promoting
ESG-oriented management, and expanding overseas business.
Focusing on capital efficiency is a natural course of action
for a publicly listed company, and there is room for further
expansion in overseas operations, given the competitivenessof our products domestically marketed. The most important
thing, then, is to realize innovation that is backed by technology
and focused on ESG.

Establish four strategic business areas where
we can leverage our technological strengths
and aim for sustainable growth that responds
quickly to changes in the environment
Please tell us speciﬁcally about Dainichiseika’s
strength, “securing competitive advantage
through technology-initiative.”
In the mid-term management plan, we have identified fourtarget markets for the future. The first two are “Mobility”
and “Packaging” as markets that will continue to develop byleveraging the strengths of our current product lineup. The
two new markets that are expected to grow significantly inthe future are “IT & Electronics Functional Materials” and “Life
Science & Personal Care.”
The mobility market is an area where our synthetic resin
products, such as urethane, acrylic, and silicone polymers
used for automotive synthetic pseudo-skin and vehicle interiormaterials, are in active use. Waterborne polyurethanes andwaterborne surface treatment agents*1 manufactured with
our proprietary resin synthesis technologies will contribute toweight reduction and improved design for EV vehicles in the
future. We plan to increase production of ESG contributing
products through aggressive capital investment.

Dainichiseika in the future

CSR and ESG Initiatives

DATA

The packaging market is an area where various eco-friendly
inks, which are indispensable for a sustainable society, arebeing actively used. Such ink has high printability thanks toour dispersion and formulation technology, and employs ouroriginal material of urethane made from carbon dioxide. We willcontinue to introduce various high-performance eco-friendly
inks that contribute to VOC (Volatile Organic Compounds)
reduction and CO2 emissions reduction.

The two areas of new development markets arevery dreamy markets.
In the field of IT & Electronics Functional materials, promisingproducts include conductive coating materials for lithium-ion
battery collectors, in which conductive carbon is dispersed in
our proprietary formulation, and paints and coating materials inwhich carbon nanotubes are dispersed in high concentrations.
Functional polymers, a unique material using CO2 as a raw
material, are also attracting attention.
In the life science and personal care field, we believe that
our core technologies can be fully utilized in biodegradable fineparticles and cosmetic materials.

What is President Takahashi’s deﬁnition of an
excellent company?
In a word, it is a company that can change with the changing
world.
By adapting to change, the company will be able to growsteadily and survive for a long time. Survival is proof that
we can contribute to society through our business, and our
employees can feel secure. While there is a tendency tobelieve that explosive growth is good, I would like to aim forsustainable growth with taking absorbable risks.
The same can be said about capital efficiency. As a publicly
listed company, it is natural for us to emphasize capitalefficiency. However, we do not intend to expand the scale ofour business all at once by leveraging a large amount of debt,
but rather to aim for steady growth by targeting niche markets
where our capital strength allows us to do so. We believe that
this will lead to our contribution to society and the environment
through manufacturing as a manufacturer.

Contributing to society as a technologyoriented chemical manufacturer based on a
corporate philosophy that incorporates ESG
Looking back on the ﬁrst year of the mediumterm management plan that began in the ﬁscal
year ending March 2022, what do you think?
I feel that our ESG-oriented management policy of creating
new value related to the environment, society, and governancefor the sustainable development of the global environmentand society has been fully communicated to all employees.
In addition, I have taken the lead in implementing thismedium-term management plan, from the formulation of
the plan, to the preparation of materials, to the holding ofinternal briefings. We have changed the method of managing
the progress of the plan, which was previously completed
within each business unit, to a company-wide method, andestablished a follow-up system to ensure that the next action
is taken. The reorganization of business segments, which
had been divided by manufacturing process, into productcharacteristics, also provided an opportunity to reform thevertically divided organizational culture.
We have selected 35 promising technology themes for the
future across the entire company and manage the progress oftechnology development four times a year at R & D Structure,
which is our central research laboratory. While the businessdivisions have focused on technologies to improve existingproducts in the past, it is now possible to direct technologicaldevelopment from a highly strategic perspective to createsynergy effects.
Overseas business has been difficult during the past year
due to the travel restrictions imposed by the new coronavirus.
However, with the superiority of our technology and products,
this is also an opportunity, and we hope to develop the theme
that we have been nurturing within the company for the pastyear.

It is human resources that will carry on
Dainichiseika’s strengths and realize its vision.
What is the direction of your human resources
development?
Our human resource development is based on our
corporate philosophy, “Have an interest in people, something
new, and the future.” “People” is exactly what we mean byhuman resource development, and “something new” means
strengthening innovation. And “future” means passing on thebaton to future generations with an emphasis on sustainability.
Based on a corporate philosophy that incorporates ESG, we
are promoting human resource development that supports theambition of our employees and the creation of an environmentthat supports their self-realization.
The social mission of chemical manufacturers is to create
new value through technology. It is through technology that
we can contribute to society and make our work rewarding.
I hope that our employees will be human resources who canfully enjoy the fun of their work.
From the viewpoint of diversity of human resources, wehave promoted the activities of women, non-Japanese, andmid-career hires. With regard to female employees in particular,
we have increased the ratio of new graduate hires to 32.9% in
the last three years, and we are also reviewing our personnel
system to ensure diversity in the way we work. I believe thatdiversity in human resources is essential for promoting ESG
management over the medium and long term.
In order to enhance our corporate value, I would like tomake “honesty and integrity” an important pillar of our humanresource standards. This is because it is not a temporary thing,
but an important quality for achieving steady and sustainablegrowth as a manufacturer. And from the standpoint of finechemicals, I would like to contribute to society as a technologyoriented chemical manufacturer.
Please refer to P.38 for “Human Resource Development and Utilization.”*1 Important materials that impart functionality such as adhesion and chemical
resistance to surfaces

17

18

What kind of company is Dainichiseika?

Dainichiseika in the future

CSR and ESG Initiatives

DATA

Management Policy and Strategy
Revised in January 2016

Corporate Philosophy◆◎ Have an interest in people◎ Have an interest in something new◎ Have an interest in the future

In August 2021, we announced its medium-term management plan and formulated management policies
and strategies with a target year of three years (ﬁscal year ending March, 2024) as well as a long-term
outlook.

Long-term Vision and Basic
Strategies

Precept◆

Medium-Term Management Plan

Man is interesting,then customers as well as companies are constituted of such men.
All the economic principles and the management theories are based upon
human behavior pattern.
Have an interest in people.
New things always excite us to expectation.
Customers, marketplaces are dug up with technical innovation & productdevelopment, which makes people active.
Have an interest in something new.
It is pleasant to imagine the future.
The future is in favor of children. Thinking of the future,
we know companies as well as people shall not live all alone.
Without customers’ growth, albeit some proﬁt is brought to us, it would neverlast long.
In consequence, neither we nor companies can keep alive unless admitted into
the society.
Have an interest in the future.
Meanwhile, we have kept a business creed “Full Achievement” established in 1968. Being proud of this traditional creed,
we shall abide by it along with the corporate philosophy set forth.

Our business creed, “Full Achievement”◆

Missions
Continue contributing to society by leveraging ourtechnological capabilities in niche markets
Engage in new value creation and problem-solving aimed atrealizing a sustainable society

Upon the release of our medium-term
management plan, we have formulated
two missions to be achieved roughly in
10 years, and four basic strategies torealize these missions.
We will continue to contribute tosociety through niche markets byleveraging our technological strengths,
while positioning the realization of asustainable society as an opportunity
to create new value, with the aim ofenhancing our corporate value.
We also aim to realize the profit targets
indicated in our medium- and long-term
basic strategies through managementthat emphasizes capital efficiency, with“technology leadership,” “ESG-focus,”and “overseas expansion” as the “threepillars” of our basic strategies.

Medium- to Long-term Basic Strategy
Practice capital efﬁcient management

TargetSecure a competitive
advantage throughtechnology-initiative･Open Innovation･Synergies among segments･Intellectual Property

Strategyknowledge of products.
･ Enhance the trust of our company through business or products.
･ Have an opportunity to always cultivate ourselves, and to deepen reﬂection as amember of society.
･ Make Dainichiseika group the most valuable company by performing services for thesociety through business.

%

TargetPromote ESG-focusedmanagement that aims
to realize a sustainable
society

ROA of at least

5%

Reinforce our businessbase by expanding
overseas business;increasing overseas
sales･Development and sales

promotion of ESGcontributing products･Promotion of “local

production for local
consumption”･Climate Change Initiatives･Promotion of resource

recycling･Further promotion of social

contribution･Creation of new businesses･Expansion of overseas

bases･Strengthen corporate

governance

Strategic Direction
In order to achieve sustainable growth of our group, we have set the following numerical targets based on the “three pillars” of ourbasic strategy.
■ Actual results for the fiscal year ended■ Numerical Targets in three years

Sales¥106.6billion*¥138.4billion■ Numerical Targets in five years(Year ending March,2024)(Year ending March, 2026)

Operating proﬁt

Sales

Operating proﬁt

Sales

Operating profit¥4.9billion¥125.0billion¥8.7billion¥132.0billion¥12.0billion*Figures based on the application of the accounting
standard for revenue recognition･ Work always to be achieved with aiming at the end.
･ Pursue the opportunities of expanding our products to the world with good

9

The “Three Pillars” for Realization

March, 2021

Under our business creed “Full Achievement” each of us shallset to work with modest pride as a member of Dainichiseikagroup taking on the responsibility for Color-Age*1.

ROE of at least

ESG
Sales in three
years’ time ＋¥6.1billion
Sales in five
years’ time ＋¥12.0billion

Ｔechnology-initiative
Sales in three
years’ time ＋¥4.0 billion
Sales in five
years’ time ＋¥11.7 billion

Overseas strategy
Sales in three
years’ time ＋4.2 billion
Sales in five
years’ time ＋7.3 billion

Overall
Sales in three
years’ time ＋18.4 billion
Sales in five
years’ time ＋25.4 billion*1 Color-Age : A word coined by the founder of Dainichiseika, which implies a prosperous times led by color technology.

19

20

What kind of company is Dainichiseika?

Dainichiseika in the future

CSR and ESG Initiatives

DATA

Management Policy and Strategy

Progress of Medium-Term Management Plan
Technology

ESG

Approach under the Medium-Term
Management Plan

Secure a competitive advantage through technology-initiative

Approach under the Medium-Term
Management Plan

Target areas and markets corresponding to core technologies
Issue solving and new value creation for a sustainable society

We will deepen three core technologies of ours
and focus our development efforts on the “Mobility” and “Packaging” areas and markets, which wehave been continuously addressing, and the“Functional Materials for IT & Electronics” and“Life Sciences & Personal Care” areas and markets, which we are newly addressing, with actively investing funds and human resources in order tobuild a “technology oriented” system to secure acompetitive advantage through technology-initiative.

Promote ESG-focused management that aims to realize a sustainable society

Four Target areas

New development markets

Sustainable development markets

Functional materials for IT and electronics

MobilityLife sciences and personal care

PackagingWe recognize that ESG initiatives are a criticalissue for the entire supply chain surrounding ourgroup, and we will promote the development andsales of ESG-contributing products, address climate change, promote resource recycling, further
promote social contributions through our stakeholders, and strengthen corporate governancethroughout the entire life cycle of our products,from the raw material procurement phase to thefinal disposal of the products.

Three core technologies
Pigment synthesis
and surface treatment

Formulationand dispersion processing

Polymer synthesis

TOPIX for the current term
■ Functional materials for IT and electronics
In the areas of secondary battery materials, electrically conductive materials, thermal conductive materials, functional polymers, wehave had an outlook for basic technologies, and at the same time, we have been evaluating performance through sample work. In
addition, by adding new technologies through industry-academia collaboration, we were able to take a steady step forward.

Please refer to P.25 - P.45 for “ESG initiatives.”■ Life sciences and personal care
In the area of biodegradable fine particles, cosmetic materials, we have achieved a certain level of progress, such as establishingmass production facilities and embarking on the development of plant-derived chitosan.

Overseas Strategy

MobilityIn the areas of polyurethane, acrylics, silicone polymers, lightweight and high strength resin compounds, we are on track to enhanceenvironmental friendliness through the use of water-based and biomass materials, and to develop production processes for highstrength compounds that use recycled materials.

Approach under the Medium-Term
Management Plan

TOPIX for the current term■

Initiatives for Environmental Issues･We actively promoted the development of secondary battery materials, electri-

cally conductive materials, thermal conductive materials, and biomass-derived
products from the perspectives of preventing global warming, promoting resource recycling, protecting water resources, and reducing food loss.
･As energy-saving measures, we installed solar power generation equipment,
improved boiler operation, made the efficiency of production machinery higher,
and switched to LED lighting fixtures.
･We promoted internal preparation for carbon pricing.
･We accelerated our response to the shift of raw materials for plastic products
to biomass, while curbing waste plastic emissions and promoting recycling.
■ Initiatives for social issues･Relation with Customers: We have conducted appropriate management ofchemical substances, quality control, responsible raw material procurement,
and sustainable logistics operations.
･Relation with Employees: We have enhanced our personnel system in terms ofimproving work-life balance and furthering activities of women, foreign nationals and mid-career hires.
･Relation with Local Communities: We have promoted disaster prevention activities and reduction of environmental impact, including the safety and security of
the neighborhoods of our production bases.
■ Corporate Governance Initiatives･To ensure thorough compliance, we have continued to communicate messages
from management, receive feedback from employees, and conduct training using the company’s intranet system, etc., while significantly adding ESG perspectives to the activities of committees within the governance system.

Reinforce our business base by expanding overseas business; increasing overseas sales■

Packaging
Inks with gas barrier properties, inks that enable recycling of packages and labels, and biomass-derived inks have been launched andsample work has begun. At present, ESG products account for more than 50% of our gravure inks, and we will continue to increase
the use of biomass-derived raw materials to strengthen development and sales of eco-friendly products.
■

Future Outlook

Growth of Existing Businesses■ Growth of Existing Businesses
We aim to support the bottom in terms ofearnings by supplying sustainable productsthat meet customer needs, such as pigments for digital signage equipment andeco-friendly inks.
■ Development of new materials
We aim to develop and quickly market materials such as conductive materials andpaper barrier coat materials that support
the realization of a sustainable society. In
the process, we will further promote open
innovation, including joint research with
universities, to develop products that contribute to solving social issues.

Supply products that better meet customer needs
Sustainable Products
Pigments for digital signage equipment

Eco-friendly inks

We will continue to promote “local production for local consumption” based on the recognition that the source of our earnings andgrowth exists both in Japan and overseas andthat we need to develop our business in countries with high GDP growth in a balanced manner. In addition, targeting growth markets, wewill study market entry through local production of specific products and expand our overseas bases for such purpose.

Marketing high value-added products
targeting advanced countries
EU●●

High-tech field
Life Science field
USA

INDIA

●

Polymer
products

Positioned as a key
strategic country

ASIA
CHINA

●
●

●
●

High-tech field
Life Sciences field

Social InfrastructureLife Essentials

Expand sales of products that have earned a good
reputation in Japan in high-growth GDP markets

TOPIX for the current term

Secure the steady earnings through products ensuring profitability

Promotion of “local production for local consumption” and expansion of overseas bases
In order to respond to strong overseas demand for supply of eco-friendly urethane resin products, including those for automotive
interiors, we have aggressively developed our business. We will continue to engage in sales expansion activities for new adoption.
■

New Technology Development■

Electrically conductive materials･Contribute to higher capacity, lighter weight, and longer lifeof secondary battery, and provide high conductivity.

･Functional materials that provide antistatic functions tosemiconductor manufacturing parts.

Further promote open innovation such as
joint research with universities
Early Achievement

Focus on strengthening
production system■ Creation of New BusinessWe have developed our engineering plastics business in Southeast Asia, China, and Europe and expanded our production facilities,
as well as tapping into digital printing demand in the commercial printing field in Europe. Although the creation of new businesses
overseas is not something that can be done overnight, we will continue to focus on these businesses.

Aiming to further increase sales■

Barrier coating material for paper
Contribute to reduction of food loss

21

Proactively develop technologies tosolve various social issues

The medium-term management plan and its progress are summarized in the Company’s presentation materials and financial results presentation materials,
which are available on our website.
https://www.daicolor.co.jp/english/ir/index.html

22What kind of company is Dainichiseika?

Dainichiseika in the future

CSR and ESG Initiatives

DATA

Segment Strategy
We have had ﬁve business segments in the past, namely “Pigments business,” “Prepared Colors & Chemicals
business,” “Polymers business,” “Printing Inks business,” and “Other business,” but from the ﬁscal year ending
March 31, 2022, we have changed to a three-segment structure.
Each segment is clearly organized based on products: Color & Functional Products, which manufactures andsells pigments and secondary processed products; Polymers & Coating Materials, which manufactures andsells synthetic resins and special coating materials cured by ultraviolet rays, electron beams, etc.; and Graphic& Printing Materials, which manufactures and sells printing inks for packaging and advertising publications.
This change was made to promote business strategies for medium- and long-term growth, such as rebuilding
the future business foundation, strengthening product development, and fostering new businesses, on theoccasion of the formulation of the medium-term management plan.

Toward the 100th anniversary with ahistory of meeting customer needs
Businesses are born from customers’
needs. Our sales staff identifies the needs,
and our technical staff materializes them oranticipates future needs and proposes them toour customers. Production manufactures highquality products that meet those needs anddelivers them to customers. Our group has built
up the trust of its customers through this cycle
and has carved out a 90-year history.
In order to further solidify these strengths
as we move toward our 100th anniversary
and beyond, we recognize the challenge ofdeepening cooperation so that we can fully
demonstrate the collective strengths of thegroup.

Uniting our strengths for the future

Masafumi
Ichinoseki
Director
Head of Business
Structure

Color & Functional
Products

Sales
Composition

57.6％

¥70.2

billionTarget for FY
endingMarch, 2023

19.4％

billionTarget for FY
endingMarch, 2023

¥25.5

billionBased on resin synthesis technology, this segment is mainly
engaged in the development and commercialization of urethane
resins and materials using natural product-derived materials.
Based on its dispersion processing technology, the segment
also provides various coating agents to various industrial fields
in Japan and overseas.
In the polymer-related products division, we will focus on thedevelopment of solvent-free, water-based urethane resins andbiomass urethane resins, which are eco-friendly products against
the backdrop of social environmental issues. In addition, we aredeveloping and introducing to the market urethane resins (HPU)
made from CO2 as a new eco-friendly material.
In the natural polymer-related products division, we aredeveloping and commercializing chitin/chitosan, which is
produced from crab shells, for use in the personal care andenvironmental fields.
In the coatings division, in addition to the applications wehave been focusing on for some time, such as displays, touch
panels, interior construction materials, and semiconductorrelated applications, we are aiming to develop products for opticallenses, high-speed communications, and material recycling, as
well as to develop and commercialize products for power-saving
LED curing coating agents, solvent-free and water-based coating
agents, and biomaterial coating agents, etc. which promise tofurther reduce the environmental impact from the conventional
measures for the environment.

Riskstight supply-demand balance¥72.2

billionFuture Strategies･ Soaring raw material prices due to rising crude oil prices andSenior Executive
Officer
Sub-Head of Business
Structure¥23.6

Sales of urethane resins were generally favorable, with strong
sales in interior materials for transportation equipment andindustrial material applications, and a recovery in demand for
applications in clothing and accessories. Sales to the automotive
industry were favorable due to an increase in the number ofvehicle models adopting the product, despite the impact ofautomobile production cutbacks in some areas. UV coating
agents for the information and electronics industries remainedrobust for display applications.

■

Osamu
TakedaNet Sales
ActualResults for
FY endingMarch, 2022

Review of Fiscal Year Ending March 2022

Risks and Opportunities

Net Sales
ActualResults for
FY endingMarch, 2022

Sales
Composition･ Increased cost burden due to disruption of logistics network,

etc.
Opportunities･ Expansion of vehicle models adopted in the automotive
industry, and growth in demand for high-functional materials･ Expanding demand for eco-friendly products such as solventfree, water-based, and biomass products･ Development of materials that respond to the progress of CASE
in the automotive industry and the deepening of high-speed
communication technology in the information/electronics
industry■

Graphic & Printing
Materials

Sales
Composition

23.0％

Net Sales
ActualResults for
FY endingMarch, 2022

¥28.0

billionTarget for FY
endingMarch, 2023

¥30.2

billion

Review of Fiscal Year Ending March 2022

Future Strategies

Review of Fiscal Year Ending March 2022

Future Strategies

Sales of compounds and plastic colorants for the automotive
industry continued to recover from the corona disaster from the
beginning of the fiscal year and remained robust both in Japanand overseas, despite some impact from automobile production
cutbacks from the second half of the year. Sales of pigments
and dispersions for the information and electronics industries
remained robust due to growth in display applications reflecting
the continuation of special stay-at-home demand, and therecovery of office equipment applications.

This segment provides high value-added products for various
application fields by highly controlling particle shape and surface
properties based on pigment synthesis technology. Based on our
dispersion processing technology, we also provide colorants forvarious synthetic resins to various industrial fields in Japan andoverseas.
In the pigment-related division, we aim to provide costcompetitive products to the market while working on thedevelopment of high-grade products that are suitable for various
applications. We are also working to develop and expand salesof eco-friendly products such as personal care materials derived
from natural products, inorganic composite materials withvarious functions, and water-based fine-dispersion processed
pigments with high design characteristics.
In the specialty chemicals-related division, in response todiversifying needs, we are developing functional dispersions suchas heat shields, flame retardants, antistatic, and UV absorbers,
as well as conducting research to enhance the functionality of
products for the information display and recording materials
fields.
In the plastics and colorants-related division, we are developing
tailor-made products and new processing technologies to meetthe increasingly diverse and sophisticated needs of plastic
materials, and we are developing and expanding sales of productsthat meet new demands such as environmental contribution andnanotechnology.

Sales of gravure inks for the packaging industry werefirm in Japan, while overseas sales remained sluggish dueto the impact of the spread of new coronavirus infection in
Asian subsidiaries. Sales of offset inks for the advertisingand publishing industries remained sluggish due to theimpact of the declaration of a state of emergency during
the summer.

In addition to providing general-purpose printing inks, thissegment is developing and commercializing specialty inks andcoatings by utilizing its proprietary formulation technologies andother expertise.
In the offset inks-related division, we mainly provide
commercial web offset inks and sheet-fed inks, but we are also
working to expand and develop distinctive product lineups for
special applications in paper printing, such as varnishes with
antibacterial and antiviral properties and metallic inks withexcellent design properties, which are in growing demand in themarket.
In the gravure inks-related division, we provide inks andadhesives used for food packaging, beverage labels, and foodtrays, as well as inks and coatings for building materials andindustrial materials. As products that contribute to reducing
environmental impact, we have launched water-based
flexographic and water-based gravure inks that reduce VOC
emissions, biomass inks that replace petrochemical materials
with plant-derived materials, inks that do not use toluene or
MEK, and recycled inks that contribute to a recycling-oriented
society. We are also developing products using urethane resin(HPU), which is made from CO2, and will continue to focus onefforts to realize a low-carbon society.

Risks and Opportunities
■

Risks

･ Shortage of semiconductor supply due to the corona disaster･ Soaring raw material prices due to rising crude oil prices andtight supply-demand balance■ Opportunities･ Continuation of special stay-at-home demand and increase of
demand associated with recovery from the Corona disaster･ Stimulation of demand in new fields such as life science andpersonal care･ Expanding demand for high-function, high-value-added
products and eco-friendly products

23

Our group has a history of each business
unit operating independently, but in order toaccelerate growth, we must create synergies
within and among segments and move frompartial optimization to total optimization.
From now on, each organization will not only
fulfill its traditional role, but also work from the
management perspective of total optimization.
We need to look back at our history and takehints from past efforts, as well as have a strong
will to move toward the future and work forsustainable growth by uniting our strengths asa group.

Polymer & Coating
Materials

Risks and Opportunities
■

Risks

･ Sluggish demand due to digitalization and the corona disasterthat spurred it･ Rising raw material prices due to higher crude oil prices andtight supply-demand balance
Opportunities･ Growing demand for eco-friendly products such as biomass
inks and inks for recycling･ Expanding markets for packaging products in emerging Asian
countries･ Expanding demand for varnishes and inks with new
functionalities such as antibacterial, antiviral, and high design
properties■

24

What kind of company is Dainichiseika?

CSR and ESG Initiatives

CSR and ESG that we think about

CSR and ESG Materiality

In the midst of rapidly changing global environmental issues and social environment, we, as a company,
recognize that it is key management issues to respond agilely to climate change countermeasures, to solve
social issues such as resource recycling, and to strengthen resilience against natural disasters and pandemics,
in order to realize a sustainable society.
In order to achieve stable and long-term growth and to enhance our corporate value in the future, we will
promote active activities by all employees to address E (Environment), S (Society), and G (Governance) risks
and create new value throughout the supply chain under our CSR and ESG Basic Policy, and strive to be acompany that our stakeholders can count on for sustainable growth through such activities.

Materiality Identification Process
STEP

2

CSR and ESG Basic Policy

STEP(Adopted July 13, 2022) This CSR and ESG Basic Policy applies tothe entire Dainichiseika group, including Dainichiseika, Japan

3

Validation

we will strive to maintain and strengthen
relationships of trust with our stakeholders
as a good corporate citizen with high ethicalstandards, not to mention respect for humanrights and compliance with laws, regulations,and social norms, both within and outside ofJapan. We will also strive to enhance corporate
value by building an appropriate governancesystem and promoting the growth and successof each and every employee.

The following policies have been established as guidelines for promoting sustainability activities.
■

Environmental Policy■

Quality Policy

P.35

■

Purchasing Policy■

Information Security Policy■

Health and Safety Policy■

Human Rights Policy

Please refer to this website for the respective policiesof the Dainichiseika Group. (Japanese Only)
https://www.daicolor.co.jp/csr/policy/index.html

Under the direction of the president, confirm the appropriateness of materiality
to be prioritized at a specialized internal
meeting.

Audit and supervisory Board

Instructions

4

Formulation of
measures

Targets and measures to achieve them
are developed for each issue.

E
Environmental

Board of Directors

Cooperation● Sustainable raw

materials
procurement● Diversity and Inclusion● Circular economy promotion● Ensuring compliance● Occupational safety and health improvement● Pandemic and BCP

measures● Human capital investment andhuman resource development● Reduction of environmental impact

Importance to the Dainichiseika Group

Materiality

Reasons for selection

Product development
capability / New
business promotion(Eco-friendly products)

In order to realize a sustainable society, we will contribute to society
through our business and make company-wide efforts based on the recognition that both society and the environment, as well as our Group, need toachieve sustainable growth.

Climate change
countermeasures(Global warming
countermeasures)

We recognize that the impact of climate change on the global environmentis a critical social issue and are actively addressing it.

Chemical safety
management

Reporting

S
Supervisingcountermeasures

Very highDescription of the main materialities and related SDGs●

Auditing● Climate change● Chemical safety management

High

Occupational safety andhealth Improvement

Internal control Committee on Financial
Reporting● Environment Committee● Corporate Health and Safety Committee● Chemical Substances Control
Committee● Export Control Committee● Quality Control Committee● Information Management Committee● Harassment Prevention Committee

capabilities and new
business promotion● Information security measures

Circular economy
promotion

Supervise● Product development● Stakeholder communication

STEP

Promotion System
In addition to thorough compliance and governance, asa chemical manufacturer, we have established a promotion
system for solving social issues and creating value that should
be addressed throughout the lifecycle of our products.
Under the direction of the President, CSR/ESG Promotion
Group Headquarters formulates countermeasures andallocates deployment activities to implementation divisions.
The activities of the implementation divisions are supervised
and audited by eight committees each chaired by directors, andliaison meetings are periodically held among the committees.
The results of these activities are reported to the Boardof Directors by each committee, and are evaluated andsupervised from various perspectives, including whether
each activity is appropriate from a sustainability perspective,
whether management resources are being invested effectively,
and whether consistency with business strategies is being
maintained.

Risks and opportunities of the issues areanalyzed, and priorities are evaluatedboth from the perspective of stakeholders who have a high impact on each issue
and from the perspective of our group’sbusiness.

● Product development capability / New business promotion ● Environmental solutions ● Social solutions ● Governance solutions

High

Based on our corporate philosophy of “Havean interest in people,” “Have an interest in
something new,” and “Have an interest in the
future,” the Dainichiseika Group recognizes that
contributing to the realization of a sustainable
society will lead to the creation of new value,
and aims for sustainable growth together
with society by working to preserve the global
environment and solve social issues.
In the development of our business activities,

Issues are extracted from the previous
year’s committee activity review, policies
and market trends related to society, theenvironment, and the SDGs.

Importance to stakeholders

STEP

DATA

Materiality Matrix
Very high１Issue Extraction

Priority
assessment

Diversity and Inclusion

SocialHuman capital
investment and humanresource development

Supervise & Auditing

Relevant SDGs

Please refer to P.31 for “Approach to TCFD Recommendations.”

Since we use raw materials derived from fossil resources that may be depleted in the future, we are committed to a circular economy in order toprevent resource depletion and reduce the environmental impact of waste.
We will work to minimize risks to the environment and human health fromraw materials handled by our group, as well as risks such as fire in ouroperations, over their lifecycle.
We aim for sustainable growth by respecting the diversity of our humanresources and their different sense of values, and by creating a workplacein which all people involved in our group can play an active role.
We recognize that investment in human capital, including intellectual property, and the development of human resources are essential to realize thebasic strategies of the medium-term management plan. We will assess thecurrent status of skills and human capital required to realize the basic
strategies, and promote necessary human resource strategies based on
perspectives such as encouraging the retention of human resources as partof the corporate culture.
Please refer to P.38 for “Human Resource Development and Utilization.”

President
CSR/ESG Promotion Group Headquarters【Organization to implement】Business Structure, Business Promotion Structure,

R&D Structure, Plant Operation Structure, and Each of the group companies

25

Dainichiseika in the futureG

Ensuring complianceTo enhance the trust of our stakeholders, we will not only comply with laws
and regulations, but also actively engage in social contribution activities.

Corporate
Governance

Information security
measuresTo ensure the trust of our stakeholders and the stability of our businessactivities, we will work to strengthen our defense and resilience against
cyber attacks which have been increasing in recent years.

26

What kind of company is Dainichiseika?

Dainichiseika in the future

CSR and ESG Initiatives

DATA

CSR and ESG Materiality

CSR and ESG Activity Evaluation and Targets for the Next Fiscal Year
Under the direction of the President, the CSR/ESG Promotion Group Headquarters and each implementing
unit analyze risks and opportunities and set main issues.
The status of these initiatives is reported to the Board of Directors on a quarterly basis. Based on the results,
the following issues are set.
☆☆Goal achievedMateriality

Climate change
countermeasures(Global warming
countermeasures)

Main Issues
Contribute to the prevention of global warming throughour business.
● Expand sales of products that contribute to a
decarbonized society● Reduction of greenhouse gas emissions from businessactivities● Risk countermeasures against natural disasters

Circular economy
Promote resource recycling mainly to prevent depletion ofpromotion
fossil resources and reduce environmental impact.
Developed from● Expand sales of products that contribute to resource“Waste Reduction
recycling
and Recycling● Promote reduction and recycling of waste generated by
Promotion Activities”
business activities
until last year

Activity Plan and Targets for FY ending March, 2022
Promote development of products that contribute to ESG andenergy saving● Target: 1% reduction in energy consumption per unit ofproduction from the previous year
● Systematic introduction of energy-saving equipment● Introduction of renewable energy● Study on energy saving in production processes●

Promote development of products that contribute to ESG andresource recycling● Improve waste recycling rate
Target: 1 point improvement from the previous year
● Reduce final waste disposal volume
Target: 1% reduction from the previous year●

Management of chemical substances through the introductionof a new chemical substance management system
Development and appropriate maintenance of the system● To strengthen management of hazardous chemical substancesin products
・Implementation of measures to comply with the partial revisionof the enforcement order of the Act on the Evaluation ofChemical Substances and Regulation of Their Manufacture, etc.
・Conduct internal audits on management of environmentallycontrolled substance● Implementation of enlightening employees on chemical
substance management

Corresponding SDGs

Activity Results for FY ending March, 2022
Increase the number of registrations of ESG contributing products, andincrease the net sales by 20%
Specific energy consumption: 4.1% decrease● Partial postponement of installation of energy-saving equipment due tounsuitable investment conditions● Installation of solar power generation equipment● Highly efficient operation of production processes● Started internal application of Carbon Pricing★★Effort required

Mid-term or FY ending March, 2023 Activity Plan and Targets

Evaluation

Promote development and sales of ESG-contributing products (including non-climate change
related products)
Target: Increase sales by 20% in FY2024 compared to FY2021● Reduce GHG emissions by procuring electricity from 100% Substantially Renewable Energy
Target: Reduce GHG emissions (Scope 1 + Scope 2) by 70% in FY2024 compared to FY2014● Continuously promote efficient use of energy in accordance with the Energy Conservation Act
Target: 1% reduction in energy consumption per unit of production
from the previous year
▶P.31
● Internal implementation of carbon pricing●●●

Development of biomass-derived products as ESG-contributing products
progressed
Although we promoted recycling of sludge, final waste disposal volume
increased by 51% from the previous year due to overall recovery of
production volume, and the recycling rate worsened by 7.0 percentage
points from the previous year
● The recycling rate of waste plastic improved by 2.9 percentage points fromthe previous year due to a change in the destination of waste plastic☆★Almost achieved

☆☆

●

●

Reduce disposal volume of waste plastics and solvents and improve recycling rate
Target: Improve recycling rate of waste plastics and solvents
1) Improve the recycling rate of waste plastics by 3 percentage points in FY2024
compared to FY2020
2) Improve the processes to achieve 99.9% recycling rate of waste solvents by
FY2024, and study on introduction of recycling facilities●

Promoting the Introduction of a New Chemical Substance Management System
To strengthen management of hazardous chemical substances in products

●

☆★

●

Chemical safety
management

27

Strengthen a chemical substance management system toconserve the environment and ensure people’s healthy
lives.
● Improve and maintain a chemical substancemanagement system● Strengthen management of hazardous chemicals in
products

Implementation of company-wide unified operation of QMS andmutual internal audits
Implemented appropriate purchasing management by revising
Off-Quality Notice● Implemented education on quality (basic training, training tocultivate internal auditor)●

Quality Assurance

Contribute to people’s health through the manufactureand stable supply of high-quality products.
● Establishment of a system for unified QMS operation● Appropriate supplier management

Occupational safety
and health
Improvement

Work on improvement of safety measures and safety
awareness to create a comfortable work environment andprevent accidents.
● Compliance with laws and regulations related tooccupational health and safety● Reduce the number of occupational accidents

Diversity andInclusion

Aim for sustainable growth by having employees withdiverse perspectives and values who have different
Review personnel systems and promote diversity in work styles
knowledge, skills, experience, abilities and attributes playso that women and foreign nationals can play an active role overa role in management.
the long term.
● Active recruitment of women, foreign nationals, and● Ratio of female new graduate hires: 30% or more
mid-career hires and promotion of employees who can ●Paid leave utilization rate of 70% or more
make the most of their diversity● Utilization of on-the-job training and off-the-job training directly● Increase the ratio of women, foreign nationals, andrelated to the acquisition of daily work skills
mid-career hires in managerial positions toward
management that makes the most of diversity

Ensuring compliance

Comply with not only relevant laws, regulations, andordinances, but also internal rules and codes of ethics,
and strive to act in a fair and transparent manner.
● Compliance awareness and education

Reinforcement of
information security
measures

Prevent damage and improve operational efficiency in thedigital society● Strengthen defense and resilience against cyberattacks, etc.
● Promote digitization to improve operational efficiency

Community

Activities for coexistence with neighboring communities● Active participation in community contribution activities

Risk management

Identify risks that require management action and takemeasures to avoid risks and reduce their impact.
● Periodic risk assessment and response to major risks● Formulate BCP (Business Continuity Plan)●

Implement and disseminate chemical substance risk
assessments● Strengthening fail-safe operation of rotating machinery
equipment● Thoroughly enforce equipment maintenance and operatingprocedures●

Promote the introduction of a new chemical substance management system
Implemented measures to comply with the partial revision of theenforcement order of Act on the Evaluation of Chemical Substances andRegulation of Their Manufacture, etc.
● Information sharing regarding the partial revision of the enforcement orderof the Law concerning Pollutant Release and Transfer Register● Conducted internal audits on the management of environment-related
controlled substances● Implemented employee education using the Chemical Risk Forum
●
●

●

●

☆★

Revised and implemented Off-Quality Notice
Implemented basic quality training and training to cultivate internal auditors(online)Examined and implemented safety measures for equipment to prevent small
fires and injuries● Implemented improvements to some rotating machinery● Conducted risk assessment of chemical substances and confirmed exposure
prevention measures

Implementation of compliance training● Implementation of compliance audits● Disseminate compliance messages from the president
Continuation and improvement of information security
management system● Maintenance of information security infrastructure, including
network monitoring and virus countermeasures● Maintenance of incident countermeasures●●●

Participation in neighborhood greening and beautification
activities
Contribution to neighborhood council activities

controlled
Implemented internal audits on management of environment-related controlled substances

▶P.33

☆★

●

Deployment of QMS company-wide unified manual throughout the company and preparation
for its operation
Verification of effectiveness of corrective actions for past complaints● Confirmation of QMS operation in divisions and affiliated companies
Thoroughly standardizing work, analyzing of quality control data,▶P.35
checking outsourcing management, etc.
●

Propose improvement measures through company-wide health and safety patrols andhorizontally expand the measures throughout the company
Raise awareness of on-site managers and personnel● Implementing compliance with revised laws and regulations
●

☆★

●

▶P.36

Develop the following action plans and targets to create a work environment where personnel
can work for a long time regardless of gender● Ratio of female new graduate hires: 30% or more
Survey of current situation and exchange of opinions on how to improve issues● Paid leave utilization rate of 70% or more
Survey of current situation and interviews with workplaces facing challenges● Ratio of female, foreign nationals, and mid-career hires in management positions：
Improve by 6 percentage points by FY2031 (compared to FY2022)

Female percentage of new graduates: 34.4%
Annual utilization rate of paid leave: 64.0%● Male percentage taking childcare leave: 28.0%● Increased opportunities to promote female employees to manufacturing andsales positions, where previously few female employees were assigned● Implemented a personnel system with a highly satisfactory evaluation
system and fair opportunities for promotion☆★

Conducted compliance training for employees at the time of hiring then at
milestone years
Conducting compliance audits of working departments and workplaces
through questionnaires to ensure that there are no compliance violations● The president himself sends and receives a monthly compliance message inboth directions for thorough internal awareness☆★

Comply with laws, regulations, ordinances, internal rules, code of ethics, etc., and strive to act
in a fair and transparent manner● Implementation of compliance training● Implementation of compliance audits● Compliance awareness and education▶P.42

Continue information security management system and provide information
security education for employees● Implemented network monitoring and virus countermeasures, etc.
● Early detection of unauthorized access events and implementation ofcountermeasures☆★

Continue efforts to prevent damage and improve operational efficiency in the digital society● Improvement of information security infrastructure● Improvement of incident countermeasures● Improvement of security measures in line with DX promotion
▶P.43

☆★

Continue to engage in activities aimed at coexistence with neighboring communities● Actively participate in neighborhood greening and beautification activities☆★

Continue to take measures to avoid management risks and reduce their impact, and promotetransformation into a resilient company● Risk management for the entire group● Review and implement business continuity measures
▶P.43

●
●

▶P.38

●

●

●

Many municipalities were not active due to the Corona disaster, but
voluntary beautification and other activities were carried out

Conducted risk surveys for actual working divisions of the entire group.
Establish a system to examine efficient countermeasures against major risks
in consideration of priorities● Actual business continuity measures, including infection control andprocurement activities in the corona disaster●

Risk management of the entire group● Review of BCP and actually addressed●the Law concerning Pollutant Release and Transfer Register

・Implementation of internal audits on management of environment-related substances to be●●●・Implementation of measures to comply with the partial revision of the enforcement order of●Preparation of QMS company-wide unified manual

・Conducted internal audits of related departments

●

●

28

What kind of company is Dainichiseika?

E Environmental Management

Environment

Dainichiseika in the future

CSR and ESG Initiatives

Material Balance of Business Activities (Comparison between FY2021 and FY2022)
INPUT

Promotion System
Environmental Committee and regularly reported to the Boardof Directors for auditing and supervision, and the results areused for continuous improvement activities.

Breakdown

Waste Recycling Rate and Final Disposal Volume■ Domestic final disposal volume ■ Overseas final disposal volume

30

13.9

35.9

15.3

37.4

(t)
10000

14.9

7500

32.1

13.6

12.6

5000

20
24.6

10
0

2018/3

23.7

22.3

2019/322.5

19.5

2020/32021/32500

2022/3(FY)

0Domestic recycling rate

68.7

63.2

63.0

45.6

44.1

4132
1083

3983
1150

3952

3049

2833

2144

2018/3

2019/32020/32021/3

56.4
50.9
4954
1002

39.8
3305
1161

Overseas recycling rate
（%）

61.7
44.9
4407
1201
3239
2022/3 (FY)

70
60
50
40
30
20
10
0

■ Domestic Scope1 ■ Domestic Scope2 ■ Overseas Scope1 ■ Overseas Scope2

60
40
20
0

50

84

84

36

2

38

77
4

34

70
33

3

57
2

31

28

25

23

21

19

18

17

17

2014/3

2018/3

2019/32020/3142021/338

2172022/30.4(FY)*Scope 2 emission factors are calculated according to GHG Protocol Market-based method.
*Data in FY2014 is just subject to domestic bases due to lack of data in some overseas bases.

Location-based■ Domestic Scope1 ■ Domestic Scope2 ■ Overseas Scope1 ■ Overseas Scope2(thousand tons)
100
80
60
40
20
0

51
32

88

87
36
31

2

38

81
4

29

34

83

70
3

33

38
2

27

23

26

14
2021/32022/3

19

18

17

17

2014/3

2018/3

2019/32020/32

17(FY)*Scope 2 emission factors are calculated according to GHG Protocol Location-based method.
*Data in FY2014 is just subject to domestic bases due to lack of data in some overseas bases.

Specific energy consumption (ℓ/t) and production volume (thousand tons)■ Domestic production output ■ Overseas production output

Overseas energy intensity

200.5

212.6

193.9

185.6

400

97.6

101.3

105.1

100.5

96.6

300

261.5

269.3

234.7

200

226.1

142.6

151.2

129.6

125.6

118.9

118.1

105.1

100.5

121.362018/3

2019/32020/32021/32022/3 (FY)029

Domestic energy intensity(Thousand tons) 206.8
500

100

22,536 ㎘
14,882 ㎘

Breakdown

Domestic
Overseas

FY2022
275,363 t

225,987 t(121.8% vs. the previous year)

100,483 t
125,504 t

121,390 t
153,973 t

Domestic
Overseas

Energy intensity (domestic / overseas) (crude oil equivalent)/
135.9ℓｔ/ (95.7% vs. the previous year)
142.0ℓｔ

FY2022
9,335 ㎘

7,795 ㎘

(119.8% vs. the previous year)

7,028 ㎘
767 ㎘

8,367 ㎘
968 ㎘

GHG emissions (domestic / overseas energy-related CO2 emissions)
Scope 2 Calculation Conditions: GHG Protocol Market-based method

Domestic

Overseas

City gas
5,942 thousand Nm3 7,150 thousand Nm3
LPG
116 ton
112 tonHeavy oil A
73 ㎘
79 ㎘
Kerosene
31 ㎘
32 ㎘
Diesel oil
22 ㎘
3㎘
Gasoline
100 ㎘
109 ㎘
224K Nm3
City gas
187K Nm3
LPG
27 ton27 tonHeavy oil A
0㎘
0㎘
Kerosene
21 ㎘
22 ㎘
Diesel oil
443 ㎘
610 ㎘
Gasoline
66 ㎘
59 ㎘

Production
Activities
Research
Activities(82.5% vs. the previous year)

Scope 1

14,245 t-CO2

2(including Scope 3 - Category 8)

Domestic Scope 2

21,054 t-CO2

2(including Scope 3 - Category 8)

Subtotal

35,299 t-CO22(49.3% vs. the previous year)

Scope 1
Overseas Scope 2

1,783 t-CO2
32,299 t-CO2

2,267 t-CO2
37,561 t-CO2
39,827 t-CO2

Breakdown

Subtotal

Sales andmarketingactivities

275.36
154.0

(ℓ/t)
200
100
0
-100
-200

FY2021

GHG Supply Chain Emissions
Scope 1: GHG emissions by fuel energy combustion in own facilities or equipments: Direct emissions*1
Scope 2: GHG emissions from the use of electricity and heat procured externallyby owned facilities and equipment*2: Indirect emissions*2
Scope 3-Category 1: Emissions from manufacturing and transportation of purchased and acquired raw materials, products, and services*3
Scope 3-Category 2：Emissions from manufacturing and transportation of purchased/acquired equipment, buildings, etc.*4
Scope 3-Category 3: Upstream emissions in the manufacturing process of purchased fuel*4
Scope 3-Category 4: Emissions during transportation of raw materials, intermediate products, finished products, and waste materials forwhich our group is the consigner*5
Scope 3-Category 5：Emissions from the disposal process of waste generated
from business activities*4
Scope 3-Category 6: Emissions from transportation used for business travel (calculated from specific emissions by means of transportationand specific emissions of accommodation facilities) *4
Scope 3-Category 7: Emissions from transportation used for commuting (calculated from specific emissions by work type and city category) *4
Scope 3-Category 8: Emissions from energy use in leased or rented properties*1*2
Scope 3-Category 9: Emissions during transportation of products shipped (by other shippers). Not subject to calculation due to no applicable
activity*6
Scope 3-Category 10: Emissions during the processing of sold products. Not included in the scope of calculation due to the difficulty ofcollecting the data necessary to calculate emissions*6.
Scope 3-Category 11: Emissions during the use of sold products. Not included in
the scope of calculation due to difficulty in collecting datanecessary to calculate emissions*6
Scope 3-Category 12: Emissions from the disposal process of sold products. Not
included in the scope of calculation due to the difficulty ofcollecting the data necessary to calculate emissions*6.
Scope 3-Category 13: Emissions from leased or rented properties. Not subject tocalculation due to no applicable activity*6
Scope 3 - Category 14: Emissions from franchises. Not subject to calculation due
to no applicable activity*6
Scope 3-Category 15: Emissions from investments. Not subject to calculation due
to no applicable activity*6

GHG Supply Chain Emissions Calculation Conditions (The scope of calculation shall be our domestic group)*1 In accordance with the Ministry of the Environment’s Greenhouse Gas Emissions Calculation and Reporting Manual (Ver. 4.8).
*2 Follows the Ministry of the Environment’s List of Emission Factors by Electric Utility. Based on the GHG Protocol Scope 2 Guidance, the calculation is performed in
two ways: “location-based” and “market-based”.
*3 Based on IDEAv2.3 database and Ministry of the Environment’s “Emission Intensity for Calculating Greenhouse Gas Emissions of Organizations through Supply Chains(Ver.3.2)” database.

Breakdown

Domestic
Overseas

Domestic
Overseas(115.0% vs. the previous year)

49,502K KWh
47,402K KWh

56,330K KWh
55,132K KWh

Waste (domestic / overseas)

Domestic
Overseas523,009
t-CO2
Scope3-C1
89.9%

2,507K Nm
123K Nm3

2,801K Nm3(106.5% vs. the previous year)
Scope1 : 3.3%
2,679K Nm3
Scope2 : 123K
0.1%Nm3
Scope3-C2 : 4.0%
Scope3-C3 : 0.7%
Scope3-C4 : 1.3%
Scope3-C5 : 0.5%
Scope3-C6 : 0.1%
Scope3-C7 : 0.2%
Scope3-C8 : 0.0%452 t-CO

17,396 t-CO

(116.9% vs. the previous year)

FY2021

96,904K KWh

316,944 t-CO

GHG emissions intensity (domestic / overseas energy-related CO2 emissions)

Breakdown

2,631K Nm3
Breakdown

34,082 t-CO2

FY2022
111,462K KWh

SupplyChain Emissions
Breakdown
Water
consumption(domestic / overseas)
FY2021
FY2022
Scope 2 calculation conditions:
GHG Protocol Market-based
methodFY202257,223 t-CO2

69,381t-CO2

Energy & Power (domestic / overseas)

Market-based

80(116.6% vs. the previous year)

19,490 ㎘
12,609 ㎘

Breakdown of Fuel Consumption

Greenhouse gas emissions (thousand t-CO₂)(thousand tons)
100

FY2021

FY2021■ Overseas

39.0

Domestic
Overseas

32,099 ㎘

FY2021

Energy consumption (crude oil equivalent)
38.5

Breakdown

Products (domestic / overseas own-plant production)

FY202237,418 ㎘

Energy & Fuel (domestic / overseas) (crude oil equivalent)

https://www.daicolor.co.jp/english/csr/csr/policy/index.html■ Domestic

40

FY2021

Please refer to this website for our “Environmental Policy.”

Environmental Impact Data
（1,000㎘）

OUTPUT

Total energy (domestic / overseas) (crude oil equivalent)

The environmental management of our group is based on the“Environmental Policy” and is implemented by the EMS of each
execution division (manufacturing sites, branches, and offices)
under the direction of the President. (EMS: Environmental
Management System)
The activities of each division are managed by theDATA

FY20220.21 t-CO /t

0.31 t-CO2/t

2(67.7% vs. the previous year)

0.35 t-CO2/t
0.27 t-CO2/t

0.14 t-CO2/t
0.26 t-CO2/t

Total amount generated
10,169 t
8,417 tDomestic Recycling rate
61.7%
68.7%
Final disposal
3,239 t2,144 tScope 2 calculation
conditions:
GHG Protocol
Location-based method2,180 t
Total amount
generated
1,928 t44.9%
Overseas Recycling rate
39.8%
Scope1 : 3.1%
1,201 tFinal disposal
1,161 tScope2 : 4.6%

Effluent volume (domestic / overseas)
Scope3-C2 : 3.8%
548,075
t-CO2
Domestic
Scope3-C1
Breakdown85.8%
Overseas

FY2021
FY2022
Scope3-C3 : 0.7%
Scope3-C4 : 1.2%
2,766K Nm3
2,588K Nm3(106.9% vs. the previous year)
Scope3-C5 : 0.5%
2,656K Nm3
3
Scope3-C6: 0.0%
2,475K Nm(107.3% vs. the previous year)
Scope3-C7 : 0.2%
110K Nm3
3
113K Nm
Scope3-C8: 0.0%(97.3% for the previous year)

GHG Supply Chain Emissions Scope 1-2-3 Domestic Breakdown for FY2022
GHG supply chain emissions are calculated in accordancewith the “Basic Guidelines for Calculating Greenhouse Gas
Emissions through Supply Chains (ver. 2.4)” of the Ministryof the Environment and the “GHG Protocol Guidance” of theWorld Resources Institute.

Supply Chain Emissions Breakdown
Scope 2 calculation conditions: GHG Protocol Market-based method

581,476
t-CO2
Scope 3 - Category 1
92.0%

Scope 2 calculation conditions: GHG Protocol Location-based method

Scope1 : 2.9%

Scope1 : 2.8%

Scope2 : 0.1%

Scope2 : 4.2%

Scope 3-Category 2 : 2.5%
Scope 3-Category 3 : 0.7%
Scope 3-Category 4 : 1.2%
Scope 3-Category 5 : 0.5%
Scope 3-Category 6 : 0.0%
Scope 3-Category 7 : 0.2%
Scope 3-Category 8 : 0.0%

606,543
t-CO2
Scope 3 - Category 1
88.2%

Scope 3-Category 2 : 2.4%
Scope 3-Category 3 : 0.6%
Scope 3-Category 4 : 1.1%
Scope 3-Category 5 : 0.5%
Scope 3-Category 6 : 0.0%
Scope 3-Category 7 : 0.2%
Scope 3-Category 8 : 0.0%

*4 Ministry of the Environment’s database of emission intensity for calculating greenhouse gas emissions, etc. of organizations through supply chains (Ver. 3.3)
*5 Calculated in accordance with the calculation standards for specified shippers under the Energy Conservation Law.
*6 Categories not subject to calculation are those that have been determined to fall under the conditions specified in Part 1, 5.3 of the “Basic Guidelines for Calculating
Greenhouse Gas Emissions through the Supply Chain (ver. 2.4)”.

30

What kind of company is Dainichiseika?

Dainichiseika in the future

CSR and ESG Initiatives

DATA

E Approach to TCFD Recommendations

Environment

Opportunity Analysis and Strategy

We recognize that the effects of climate change will have a signiﬁcant impact not only on ecosystems andsocial life, but also on our business. In order to accelerate our response to climate change, we expressed our
support for the TCFD recommendations in November 2021. Aiming to create corporate value, we will seizerisks and opportunities, incorporate them into our management, and disclose information in line with the
TCFD recommendations.

The activities of each execution department are supervised
and audited by the Environmental Committee and the Companywide Safety and Health Committee. The status of audits isreported to the Board of Directors and the Board of Corporate
Auditors, and the results are returned to both committees.

TCFD: Task Force on Climate-related Financial Disclosures

GovernanceRisk Management

We consider company-wide activities related to climatechange risks and opportunities to be one of its most importantmanagement issues, and under the instruction of the
management, the Group is working to address these issues
through the CSR and ESG concepts and promotion system
shown on P.25.
In addition, we are operating a system in which performanceon ESG issues, including climate change, is incorporated into
our personnel evaluation system and reflected in evaluations.
In the current fiscal year, the evaluation of ESG issues isweighed out at 25% (for managers).

CSR/ESG Promotion Group Headquarters considers therisks arising from climate change as transition risk, which refers
to the strengthening of regulations and changes in the supplydemand structure due to revisions of laws and regulations andchanges in industry trends, and physical risk, which refers to
the strengthening of resilience to natural disasters and thedeterioration of the labor environment due to global warming.
Depending on the nature of these risks, each organization
and related department, which is the execution division, is
instructed to perform risk response operations.

Reduce greenhouse gas emissions from our operations
through energy-saving activities and electricity fromrenewable energy sources.
● Contribute to the reduction of greenhouse gas emissions
in society as a whole by developing and expanding sales of
product lines that meet the decarbonization business.
● To promote the development of hardware and software toaddress natural disaster risks, with the aim of avoiding andmitigating risks and enhancing resilience.
●2

or 1.52℃ scenario

44℃ scenario

Changing demand for a Circular Economy● Accelerated recycling of plastic resources● Increased demand for biomass-derived products●

Increased financial burden due to introduction of carbon tax

gas emissions from businessactivities at domestic bases (Scope 1 + Scope 2)
Target: Aim to reduce CO₂ emission in the fiscal year ending March
31, 2024 by 70% compared to the fiscal year ending March
31, 2014. (Calculated using the adjusted CO₂ emission
factor of electric power companies that procure electricity
from 100% Substantially Renewable Energy)
Progress: Actual results for FY March 2022 reduced by 65%
vs. FY March 2014

CO₂ emissions of our group in Japan (domestic Scope 1 + Scope 2)

Transitionrisk

Difficulty in procuring raw materials derived from fossil resources●

Developing decarbonization of raw materials

2℃ or 1.5℃
scenario

Loss of business opportunities due to changes in the
supply-demand structure●

Prompt internal deployment of industry trends to enhance businessactivities

Physical
Risk

Impact of stagnation of business activities due to supply chain
disruptions caused by natural disasters●（t-CO2）65%
reduction

Diversify raw material procurement regions and sources
Inventory management to reduce impact on logistics

Deterioration of the work environment at manufacturing sites andresulting increase in capital expenditures●

Efficient capital investment that contributes to improvement of work
environment and production efficiency

Transition
risk

Strengthen product development capabilities to respond tochanges in the supply-demand structure●

Promptly disseminate industry and market trends internally and reflect
them in product development and business planning

4℃
scenario

Impact of stagnation in business activities due to damage to thefacilities caused by a major natural disaster●Physical
Risk

Increased capital investment to improve the deteriorating work
environment at manufacturing sites●●

Heat Shielding Paint for energy-saving air conditioning in buildings
Ink-related products for flexible packaging for beverages

Colorants for coating materials for high-speed, high-capacity communication lines● Coloring materials for high weatherability coatings for building exteriors● Colorants for high-strength and high-durability fibers●● Aim to increase sales of products that contribute to ESG(including climate change action) by 20% in FY March 2024
vs. FY March 2021.
Progress: Sales results of ESG-contributing products for FY
March 2022 increased by 20% vs. FY March 2021

Sales of ESG Contributing Products(100M yen)400

20%
increase

20%
increase

FY March 2022
Results

FY March 2024
Target300
200

20,0000100
FY March 2014
as Benchmark

FY March 2022
Results

FY March 2024
Target0

FY March 2021
as Benchmark*GHG supply chain emissions FY2021 Scope 1, 2, and 3 data are shown in “Environmental Management” on P.30

Corresponding ESG Contribution Products
Climate change (global warming)

Circular economy support

Other items for social contribution

Materials for rechargeable batteries andsolar cells● Resin products that contribute to vehicle
weight reduction● UV/EB inks and coating agents● Materials made from CO₂● Heat Shielding coatings for energy
saving in buildings●

Biomass-derived products (inks,
urethane resins, resin powders)● Deinking inks for flexible packaging
recycling● Natural polymers (chitin and chitosan)●●

Promoting facility renovation in accordance with hazard maps
● Decentralization of production sites
Preventing a decline in production efficiency by investing in equipment
to reduce heat and human workload at manufacturing sites*Internal implementation of carbon pricing (for domestic Group companies)
Example of use: Business profitability analysis.
Included in the amount of improvement effect whenSet unit price: 8,000 yen/t-CO2
introducing energy-saving equipment to promote investment.
Impact: 340 million yen for CO2 emitted by our domestic group
Maximum estimated amount:2 billion yen for CO2 emissions in the supply chain

70%
reduction

40,000●●●Deinking inks for flexible packaging materials
Resin powder, ink, and adhesive made from biomass-derived raw
materials*Calculated using the emission factor after adjustment by type of power purchase contract.

Measures to take

Increased GHG reduction requirements from customers

Stricter regulations to reduce GHG emissions●

Growing demand for products to expand projects of strengthening
infrastructure in preparation for severe natural disasters● Growing demand for renewal of power and telecommunications
infrastructure● Growing demand for building renovation projects● Indicator (KPI): Greenhouse

Scenario Assumption Summary

Reduce GHG emissions and financial impact by procuring electricity
from 100% Substantially Renewable Energy● Implementing an internal carbon pricing system● Ongoing energy conservation measures●

Indicators, Targets, and Progress

Global warming becomes more serious, causing changes in demand structure andimpacts on the working environment due to rising average temperatures. Businessactivities will be frequently affected by large-scale natural disasters.

Assumed Risks

Products for rechargeable batteries
Wiring harness-related products for vehicles● Products contributing to vehicle weight reduction● Products for solar cells ● Polyurethane resins made from CO₂●

60,000

Risk Classiﬁcation

Strategies (development and sales promotion of the following products)

Changes in lifestyles and supply-demand structure due to rising temperatures
Changes in building specifications to cope with heat
● Increased demand for beverage containers

We analyze risks and opportunities based on publishedmaterials from international research organizations (IPCC Fifth
Report, IPCC Sixth Report, IEA World Energy Outlook 2020)
and information on the responses of our customers andsuppliers, and proceed with measures to deal with the risks
to be addressed.

Scenario Assumption Summary

Assumed Opportunities
Increased demand for products contributing to decarbonization● Promotion of EVs and self-driving vehicles● Promotion of vehicle weight reduction● Increased demand for power infrastructure●

Risk Analysis andCountermeasures

Priority Issues

Acceleration of tighter regulations to prevent global warming and changes in demand
structure that contribute to global warming prevention. Assumes that the impact ofnatural disasters will need to be more focused than at present.

Risk Classiﬁcation30

20

Adhesives for gas barrier flexible
packaging materials, which help reducefood loss.
● Materials for high-voltage transmission
line sheathing, which help reinforce
electric power infrastructure● Colorants for coating materials for high30
speed, high-capacity communication
20
lines, which help strengthencommunication infrastructure
20
10

10

31

0

0

32

What kind of company is Dainichiseika?

E Management of Chemical Substances

CSR and ESG Initiatives

DATA

S Stakeholders of Dainichiseika

Environment

Society

We are working with each committee to properly manage the chemical substances handled by our group andto ensure their proper and safe use. We are also working to develop a system that enables us to promptly
provide safety data on chemical substances.

We have established a “Basic Policy on Corporate Governance,” which states that we “consider the interestsof not only our shareholders but also our employees, customers, suppliers, creditors, local communities, andvarious other stakeholders, and working in an appropriate manner with them.” Through various dialogues
with our stakeholders, we listen to their opinions and appropriately reﬂect them in our business activities inorder to earn the trust of the many people with whom we interact.

Introduction of New Chemical
Substance Management System

Toward Better Management ofHazardous Substances

Stakeholders

For More Efficient Management of Chemical
Substances
Chemical substance management is becoming increasingly important as regulations on chemical substances becomes
stricter. In order to make these operations more accurate andefficient, we are establishing a new chemical substance management system. The new system will enable us to create a
database of chemical substances contained in each productand to quickly search for applicable laws and regulations for
products and chemical substances contained in them. This will
enable us to provide information in compliance with various
regulations more accurately and in a timely manner than everbefore. In addition, the centralized management of chemical
substances by the Group's unified system will enable the necessary parties to quickly collect and respond to the necessary
information.

Strengthening Chemical SubstanceManagement throughout the Supply Chain
To address legal and social chemical substance issues
throughout the product lifecycle from manufacturing to disposal after use, we promote chemical substance management
through a variety of initiatives, including the development of internal systems to ensure compliance with domestic and international chemical substance-related laws and regulations, andthe provision of information on product safety and applicablelaws and regulations to our customers. For example, in orderto reduce the environmental impact of chemical substances inour products, we strive to understand information on chemical substances contained in raw materials we use, while wecollect information on enactment and revision of laws and regulations, take appropriate actions, and provide information on
chemical substances contained in products to our customers.
In this way, we strive to strengthen chemical substance management and minimize risks throughout the supply chain.

Please refer to this website for our “Chemical Substance Management.”
https://www.daicolor.co.jp/english/csr/csr/management/index.html

Strengthening the Chemical Substance Risk
Assessment System
These days, laws and regulations related to chemical substances have been revised one after another in Japan. We havealso been compliant with Class I Specified Chemical Substances in accordance with the revision of the Act on the Evaluationof Chemical Substances and Regulation of Their Manufacture,etc., and with SDS in accordance with the revision of JIS Z
7252/7253. In addition, we are also working to comply withrevisions to the Law concerning Pollutant Release and Transfer
Register, and the Industrial Safety and Health Law.
The basic concept of the comprehensive management ofchemical substances is shifting toward reducing the risk of
individual chemical substances. In response to this change,
starting in the fiscal year ending March 31, 2022, we havestrengthened the checking system for chemical substance risk
assessment at the time of facility installation and establisheda system to conduct more rigorous checks at the time of facility installation. In addition, we are striving to maintain andstrengthen our chemical substance management by conducting regular internal audits on chemical substances to check the
management system and operational status related to chemical substance management, and requesting improvement
measures as necessary.

Knowledge enhancement through education on
Chemical Substance Management
In terms of chemical management education, we provide education to related divisions and group companies in order to accurately respond to chemical substance laws and regulations.
In the fiscal year ending March, 2022, we proactively held inhouse seminars mainly for chemical substance management
personnel to improve their knowledge level and prepared anenvironment enabling them to acquire the latest legal and regulatory trends.

More efficient operations and more appropriate
management of chemical substances
we will review our operations to improve operational efficiency in conjunction with the introduction of the new chemical
substance management system.
In addition, in order to manufacture and export chemical substances, it is essential to have a good understanding of the systems of each country where we operate and deal with them.
Therefore, we comply with the laws and industry standards of
all countries and regions where we do business, and we areworking to properly manage chemical substances in order tofulfill our social responsibility as a company. As a result, there
were no violations of laws and regulations regarding registration and notification of chemical substances in the fiscal year
ended March 31, 2022.

33

Dainichiseika in the future

Dialogue Opportunities
・Website

・Sales activities

Customers

Communication Tools
・Product brochures

・Various exhibitions

・Consultation services, such as websites
・Quality assurance support

・PR magazines

・Corporate report
・News releases

・Release of appropriate publicity to the media

・Group Intranet

・Message from the President at the beginning of the year

Employees

Business
Partners

and on the anniversary of the company’s founding
・Labor-management council
・Company social gathering
・Training by job level
・Periodic personal interviews
・Internal Reporting and Harassment Consultation Desk・Communication through individual transactions
・Various exhibitions

・Joint research through open innovation

・Website・PR magazines

・Corporate report
・News releases

・Employee surveys

・Questionnaire survey on the status of CSR

promotion・Public relations magazines
・Corporate report
・Website・Brief Report of Financial Results

・General Meeting of Shareholders

・Annual Securities Report・Company Information Session

Shareholders
and Investors

・Timely Disclosure

・Financial Results Briefing

・Notice of Convocation of General Meeting of・Individual meetings

Shareholders

・Visits to institutional investors

・Shareholder Newsletters (Interim Report)

・Teleconference・News releases
・PR magazines

・Corporate report・Industry-University Cooperative Projects

Society(community,
government,
school)・Interaction at community events

・Service activities in the neighboring communities
・Dispatch of lecturers for lectures and educational

opportunities
・School visit
・Acceptance of work experience

Tokai Production Plant
Technical High School Plant
Tour

Tokyo Production Plant
Comprehensive disasterprevention drill

・Website・PR magazines

・Corporate report
・News releases
・Newspaper
・Magazines

General meeting ofshareholders

Please refer to this website for our PR
magazine “People, Something New, Future”.
(Japanese Only)
https://www.daicolor.co.jp/csr/newsletter/newsletter_Vol1.pdf

34

What kind of company is Dainichiseika?

Society

S Customer Relations

Society

CSR and ESG Initiatives

DATA

S Employee Relations

Quality Assurance

Industrial Safety and Health

To ensure that our customers can use our products with confidence, we are working to develop a company-wide quality assurance
system that considers not only the performance of our products, but also all of our corporate activities up to the delivery of products
and services to our customers as “Quality.”

Aiming to eradicate industrial accidents and promote the maintenance of good health, we are engaged in continuous improvement
activities by connecting safety and health committees at each business site through a company-wide network in order to improvesafety measures and safety awareness to create a comfortable work environment and prevent accidents.

Approach to Quality Assurance

Quality Assurance System

Promotion System

Corporate Health and Safety Committee

We, at every stage from product design through manufacturing and inspection to delivery of products to customers, comply with all laws and regulations, and recognize that maintaining and improving the reliability and safety of our products andservices are a social requirement, and always place the highest
priority on providing the quality demanded by customers.
Our products are used in a wide range of fields, including
information and electronics, automobiles, books, industrial materials, stationery, and packaging, and the quality demanded byour customers varies. We aim to establish a system promising
to provide products and services that satisfy our customers at
all times.

We operate a quality management system based on
ISO9001 at each business division and group company individually. In recent years, there has been a growing awareness ofthe need for an organization to develop a group-wide quality
assurance system. In 2013, we established the Quality Control Committee, a company-wide organization, and in 2019,
the Company-wide Quality Assurance Department, which is
responsible for the management and operation of the Group
QMS, to maintain and improve the quality control systemthroughout the company. As part of our company-wide efforts,
we promote continuous improvement of the quality control
system and quality management activities of each division andgroup company, by holding various training sessions on quality
assurance, reviewing the management system of raw material
suppliers and contract manufacturers, reviewing cooperation
among organizations, and providing support for QMS activities.
We are striving to maintain and improve the quality assurance
system of our entire group.

Considering occupational accidents and health and safety
to be important business risks, and under the direction of the
President, we are working to eliminate these risks and mitigate
them if they should occur, based on the CSR/ESG approachand promotion system shown on P.25.

The committee ensures compliance with laws, regulations,and various guidelines to promote employee health, create acomfortable work environment, and prevent accidents. The
committee investigates the causes of accidents and exchanges
opinions with the safety and health committees of other business sites regarding countermeasures, and works for improvement and horizontal deployment of such measures. During regular company-wide health and safety patrols, health and safetycommittee members from other worksites participate to evaluate safety from various perspectives and make improvements.

Dainichiseika Quality Policy
To provide the products and services satisfying
our customers demand, Dainichiseika has established a quality policy, the fulfillment of which willbuild its trust and contribute to society.

Mechanisms for Reflecting Customer Feedback
Whenever a complaint or quality problem occurs within ourgroup, each division or group company investigates the cause
and implements thorough measures to prevent recurrence,
while continuously applying the information obtained in theprocess to the development and improvement of products
and services to enhance customer satisfaction. Information on
quality and product safety and measures to prevent recurrence
are shared and horizontally deployed throughout the Groupthrough the Quality Control Committee.

1.We provide the products and services satisfying ourcustomers demand.
2.We comply with all statutory and regulatory requirements.
3.Our managers and all employees aim to improve product quality.
4.We continue to promote the activity that improves
product quality.

Quality Control Committee
Cooperation

Products& Services

Customer’s
Voice

●

Corporate Quality Assurance Department

Executive divisions

Business Promotion
Structure

ISO 9001 certification
Design andDevelopment

Procurement

Central Purchasing Division● Corporate Planning &Control Division● Personnel & General
Affairs Division●

Manufacturing

Testing andInspection

Information sharing andhorizontal development

Administrative divisions

Business Structure / Group Companies
Sales
Orders

Shipment

Aiming for Zero Accident and ZeroOccupational Injury
Each business site of our group conducts chemical substancerisk assessments for substances handled and disasterprevention risk assessments when installing equipment,
and works toward achieving accident-free and disaster-free
operations based on preventive action-type safety activities.
For accidents and disasters that occur, we investigate thecauses and formulate measures to prevent recurrence, which
are horizontally disseminated throughout the company throughthe company-wide Health and Safety Committee to confirm
the status of implementation.

Occupational
Accident Incidents
In FY2022, there were
4 lost time injuries with afrequency rate of 1.01 andan intensity rate of 0.038.
There were no occupational
illnesses or fatalities.

Company-wide Health and Safety Patrols
The executive office of Corporate Safety and Health Committee, together with Safety and Health Committee members
from other business sites, prepares checklists and conducts patrols on a regular basis. Throughthese patrols, specific proposals
for problems and solutions are
made, and horizontal deploymentof pointed out issues and confirmation of corrective actions are
conducted to raise the level ofsafety and health activities of theentire group.

Dainichiseika Domestic Group

Manufacturing Industry

Chemical Industry

2020/32021/32022/3

2019

2020

2021

2019

2020

Number of Lost-time

5

2

4

-

-

-

-

-

2021
-

Frequency rate

1.45

0.61

1.01

1.20

1.21

1.31

0.94

0.93

1.07

Intensity rate

0.003

0.001

0.038

0.10

0.07

0.06

0.02

0.03

0.02

Number of Lost-time: Work-related accidents that force workers to be absent from the day after the accident.
Frequency rate: The number of casualties due to occupational accidents per million total actual working hours, which indicates the frequency of accidents.
Intensity rate: The number of days lost from work per 1,000 actual working hours, indicating the degree of severity of the accident.
Manufacturing Industry: Average of companies with 100 or more employees
Chemical Industry: Average of companies with 100 or more employees
Data source: Ministry of Health, Labor and Welfare’s Survey of Occupational Accident Trends (2019-2021)

Supervise & Auditing

CSR/ESG Promotion Group Headquarters

Information sharing andhorizontal deployment

Customers

35

Dainichiseika in the future

MutualCooperation

Plant Operation Structure●

Composite Plant Engineering& Planning Division

R&D Structure

Aiming for a Safe and Comfortable Workplace
At Dainichi Color Composite Co., Ltd. our top priority is to “improve safety awareness and eradicate
public injuries.” In order to prevent similar public injuries, we are reviewing past public injuries andconfirming the current status and countermeasures at each site. In addition, a safety unit wasestablished in the fiscal year ending March 31, 2022 to share information and plan safety education withthe aim of homogenizing safety activities. We also check the wearing status of protective equipment
and talk to employees who are acting differently than usual, striving for two-way communication.
We will continue to refer to the good points of other business sites and work to create a workplacethat is easy for everyone to work in and friendly for women.

Kazo Production Plant (Dainichi
Color Composite Co., Ltd.)
General Affairs & Accounting
control Division

Akina Jinguji

36What kind of company is Dainichiseika?

Society

CSR and ESG Initiatives

DATA

S Employee Relations

Mental Health Care Initiatives

Building Sustainable Logistics

Human Resource Development and Utilization

Aiming to reduce mental health problems, we have been
implementing stress checks for employees’ mental healthsince 2014, as well as strengthening support for employees
by providing counseling by a clinical psychologist on a regularbasis. Furthermore, we are working to raise the mental
health level of the entire organization and thereby revitalize
the workplace and improve productivity by aggregating andanalyzing individual results by groups of a certain size andproviding feedback to workplaces with information that takes
into consideration personal information.

We strive to build sustainable logistics based on the principleof safety first. In cooperation with our logistics providers, weensure that they carry yellow cards, conduct disaster drills, andprovide safety education.
In addition, we regularly visit our contractors’ sites in person
to conduct quality and safety patrols.

“People” are a major component of a company. “People” are an important “Asset” for a company. In order for a company to growsustainably, it is important to nurture "human resources" who possess a variety of skills and are capable of exercising leadership within
the organization. We promote the creation of an environment that supports the development of employees' ambition and their selfrealization.

Approach to Human Resource Development
Environmental Measures
Compliance with Revised Energy Conservation Act
Promoting a modal shift● Efforts to Address Shippers’ Obligations ofConsideration in the Realization of Work Style Reform●●

Logistics
Since the establishment of the Japan Responsible CareCouncil (JRCC) in 1995, we have been a member of the JRCC
and have been working to prevent accidents and disasters inlogistics as well as to promote environmental initiatives.

The products handled by our group are chemical products
containing hazardous materials. Storage and transportationof such products require a higher level of knowledge and aheightened awareness of safety management. For this reason,
we select our logistics partners in light of our safety and quality
standards.
In addition, we share various necessary information with
our logistics partners in a timely manner, and link this to risk
assessment and safety management in the “field” to prevent
accidents, claims, and other problems.

Promotion System for Safety and Quality
To utilize the 3PL*1 and WMS*2 introduced in October 2018,
we are promoting centralized management of the groupin cooperation with logistics providers. We have sufficient
communication with divisions or offices to ensure appropriate
operations related to safety and quality.

●●

Efforts to address the driver shortage
Efforts to address the 960 Problem in 2024

Efforts to optimize total logistics costs● Efforts to improve logistics quality●

Acquisitionof human andintellectual
property

Human
Resources
Development

Compliance●

Compliance with Fire Service Act, Motor Truck
Transportation Business Act, and other laws andregulations

Labor-Management Relations
Labor-Management Council
Stable labor-management relations are the foundation of
the company’s development. To maintain and improve soundlabor-management relations, we hold labor-management
council meetings eight times a year on a regular basis to foster
mutual trust based on dialogue. At such council meetings,
management information and workplace issues are shared andopinions are actively exchanged.

Our retirement benefits consist of a funded defined benefit
corporate pension plan and a lump-sum retirement allowance
provided by the Company. Besides, we have introduced an
employee-choice Corporate-type Defined Contribution pension
plan to support voluntary efforts to secure post-retirement
income.

Recruitment activities aimed at ensuring
diversity● Creation of attractive research themes● Flexible management of compensation levels
and systems● Promote open innovation (industry-academia)● Actively develop intellectual property strategy●

Improvement of logistics value

Retirement Benefits*1 3PL (Third-party Logistics): Comprehensive outsourcing of logistics operations*2 WMS (Warehouse Management System): Warehouse management system

Human capital investment and human resource development
are essential to the realization of the “Basic Strategy” of our
medium-term management plan, which was announced inAugust 2021. Through the following efforts, we will promote
the human capital strategy necessary to secure competitive
advantage and create innovation.

Avoiding logistics crises

Approach to Safety and Quality

37

Dainichiseika in the future

Evaluation system based on skill development
Reskilling for people’s work style● Create opportunities for internal and external
communication●●

Inherit skills through the use of veteranemployees● Improving productivity and non-depending on
individuals or skills through the use of DX●

Inheritanceof skills

In addition, we have undergone changes in line with theneeds of the times. In modern society, where change is rapid,
it is essential to utilize diverse human resources in order toprovide value. We actively support the creation of a corporate
culture that recognizes diversity and the development of
human resources.

About the Personnel System
The personnel system, which also affects employee motivation, consists of a “personnel evaluation system” that clarifies
goal setting according to job level and role and evaluates employees appropriately, and a “wage system” that appropriatelyreflects their roles and contributions. In terms of career paths,
we provide opportunities for employees to meet with their supervisors twice a year to discuss the rank and work level they
are aiming for, their ideal work style, and the areas of work theywould like to be exposed to. In addition to systems that respect
diverse work styles and enable self-fulfillment, we have also
introduced positions with limited work area to create a comfortable working environment for our employees. Furthermore,since 2015, we have included the experience of transferring tomultiple departments as a requirement for promotion. Transfers between departments and job types are also taking place,leading to career development for our employees.

Active Promotion of Women, Foreign nationals,
and Mid-career hires
In July, we established the Human Rights Policy, and are toeliminate human rights violations in hiring and promotion, andprovide equal opportunities to play an active role. The percentage
of female employees among new graduates hired in the last
three years increased to 32.9%. By expanding opportunities forfemale employees to be promoted to production sites, where
the number of female employees assigned has been low, andby reviewing the personnel system to ensure diversity in work
styles, the number of female employees who are active overthe long term is increasing year by year
■ Percentage of female employees among newly hired graduates (domestic group)

2020
25.9%

2021
34.4%

2022
40.3%

■ Percentage of female employees (the entire group, all employment types)

2018
14.3%

2019
16.2%

2020
17.2%

2021
17.4%

2022
18.3%

In addition, from the viewpoint of prioritizing the early
onset of a “chemical reaction among human resources” byhiring a wide range of people with different experiences,backgrounds, skills, and attributes, we are reviewing our
personnel system, including human resource development
and internal environment improvement policies, and actively
providing opportunities for hiring without distinction of gender,
nationality, or time of hiring. Through appropriate use of onthe-job training and off-the-job training directly linked to theacquisition of skills for daily work, a highly convincing andaccurate personnel evaluation system, and fair opportunities
for promotion, we will gradually increase the ratio of women,
foreign nationals, and mid-career hires in managerial positions
above the section manager level from 12.4% in FY March 2023
to 18% in FY March 2031.
■ Ratio of female, foreign nationals, and mid-career hires in managerial positions*1

2018
12.6%

2019
12.4%

2020
11.7%

2021
11.6%

2022
12.4%

2030
18% (target value)*Domestic group as of April 1

Training System
We provide a training curriculum tailored to each employee’s
job level to maximize the effectiveness of training at each
workplace. Through the accumulation of training for each leveland on-site practice, we develop human resources capableof exercising leadership in the workplace, leading to theimprovement of organizational capabilities. Combined withour career path system, we have created an environment that
ensures the development of successors.

*1 We have not set individual numerical targets because we believe that excellent employees should be promoted to managerial positions without being preoccupied withwomen, foreigners, and mid-career hires, and that setting numerical targets by attribute would rather result in a violation of equal opportunity. In the future, we willconsider setting individual numerical targets, taking account of the progress of the mid-term management plan.

38

What kind of company is Dainichiseika?

Society

S Employee Relations

Society

Dainichiseika in the future

To a workplace where men taking childcare leave is the norm
At first, while I thought that the time had come for both husband and wife to balance work and childcare, since we wereboth from the Kanto region and lived in the Kansai region, I encouraged my wife to have the baby back in her hometown, while
I considered continuing my work in the Kansai region. However, my wife pointed out that it was “our” child, and I wanted to beprepared for the birth of life, which is when I decided to take childcare leave.
At that time, I was in charge of domestic sales of colorants in Osaka and was entrusted with some major customers. When I
decided to take childcare leave, I was anxious about the reactions of those around me, but I tried to communicate my intention
and reasons for taking the leave to all parties both inside and outside the company as much as possible. As a result, I received
many positive comments and encouragement from my workplace: “Pioneer the use of childcare leave among male sales
people!” and I received encouragement.
During my childcare leave, I shared housework and childcare with my wife and made up my mind to
spend all my time on my family, so I did not check my work e-mail or return phone calls. After returning
to work, I consulted with my supervisor, reduced overtime work for a certain period of time, and faced
my work with my family first and foremost.
After returning to work, I felt that my work efficiency and motivation were higher than before.
Before returning to work, I sometimes blamed myself for not being able to produce results at work,
but through childcare, I saw how my child’s abilities were steadily increasing day by day, and I learned
to value “the possibility of being able to do things in the future” and find joy in the future rather than“frustration at not being able to do things now.” By gaining a sense of distance from my work, I wasWest Japan Head Branchable to put things in perspective and learn to maintain a good balance between my work and private
Plastic Colors No.2 Division
life.
Koudai Watanabe
I am grateful to those around me who accepted my way of thinking, and I would like to make an
Joined the company in 2016
effort to respect each person’s way of thinking in the future. I would be happy if I can encourage those
Number of children: 1
who are considering taking childcare leave, or if I can be an option for those who are not considering
Period of childcare leave:
2 months
taking childcare leave.
●

Revision of Purchasing Policy to Meet theTimes
In April 2019, we revised and implemented the Purchasing
Policy to promote CSR-related initiatives throughout the supply
chain in order to provide the products and services demanded
by customers and to continue to be a company trusted bystakeholders.
By adding CSR-related initiatives such as human rights, labor
environment, environmental conservation, and complianceto our supplier selection criteria, we will practice selection of
suppliers and procurement items based on fair and impartial
evaluations.

Establishment of CSR Procurement Standards
We have established a new set of “CSR Procurement
Standards” that we would like our suppliers to address, andhave begun implementing them with the cooperation of our
suppliers. The “Purchasing Policy” and “CSR Procurement
Standards” are posted on our corporate website, and we areworking to ensure that new suppliers who wish to do businesswith us understand them.

●

Support for Diverse Work Styles
We believe that each employee’s ideal work style changes
depending on his or her lifestyle and life stage. We respect
the diverse work styles envisioned by our employees and haveintroduced various systems to enable them to realize their ideal
work styles. The annual paid leave utilization rate of our groupfor the fiscal year ended March, 2022 was 64.0%.
● Employment of People with Disabilities
Our employment rate of persons with disabilities (nonconsolidated) for the fiscal year ending March, 2022 was
2.15%. We will continue to make efforts to achieve long-term
employment for people with disabilities, taking their aptitudes
into consideration.
● Childcare and Nursing Care System
To enable employees to balance childcare and nursing care with

Support for Balancing Work and Nursing Care
Nursing care leave
Shortened working hours for nursing careor nursing care flextime system

ChildbirthMaternity leave before and after childbirth
Staggered working hours / Flextime system for childcare / Measures for breaks

Return to works

1 year old

3 years old■ Leave and Vacation ■ WorkEntering elementary schoolChildcare leave

4th year of elementary school

Monitoring of Chemical Substances
In terms of chemical substance management, in the fiscal
year ended March, 2022, we conducted a “simultaneous
review of chemical substances contained in products related
to raw materials” and “simultaneous review of purchasespecifications” for our suppliers. Through these efforts, we aremanaging raw materials to reduce environmental impact andensure product safety.
We will continue to implement monitoring activities andaudits in order to extend these CSR initiatives to the entire
supply chain. Through these activities, we will strive to improve
the satisfaction of all our customers.

Please refer to our website for “Purchasing Policy” and“CSR Procurement Standards”. (Japanese Only)
https://www.daicolor.co.jp/company/purchase/index.html

Prevention of Child Labor andForced Labor
Respecting international norms such as the Universal
Declaration of Human Rights, the ILO Declaration on
Fundamental Principles and Rights at Work, the Guiding
Principles on Business and Human Rights established by theUnited Nations, and the 10 Principles of the UN Global Compact,which set forth the principles of respect for fundamental
human rights, we have established a “Human Rights Policy”
based on the CSR/ESG Basic Policy. In the “CSR Procurement
Standards,” we are committed to respecting fundamental
human rights, eliminating discrimination, forced labor, and childlabor, and improving the working environment.
(Excerpt below from the CSR Procurement Standards)
1.Respect basic human rights; eliminate discrimination,
forced labor, and child labor; and make efforts to improve
the labor environment.
3) Prohibition of forced labor and child labor
Never force labor through threats, restraints, or othermeans. Furthermore, never use child labor at any stageof the manufacturing process.
4) Ensuring a (safe and healthy) work environment
Comply with laws on labor, safety, and health; ensure asafe, healthy, and comfortable work environment for all
persons involved in the company’s business activities;
and make efforts to maintain and improve such anenvironment.

Responsible Mineral
Procurement
In December 2020, the CSR Procurement Standards wererevised to include “Responsible Mineral Procurement.”(Excerpt below from the CSR Procurement Standards)
8. Engage in the responsible procurement of minerals.
1) Never use conflict minerals that cause the infringementon human rights, environmental destruction, and otherconflicts and become the source of funding for armed
groups.
2) Make efforts to procure minerals from conflict-freesmelters selected by organizations such as the RMI(Responsible Minerals Initiative).
3) If, in the unlikely event that the use of conflict-minerals
financing armed groups comes to light, make prompt
efforts to remedy such a situation.

Granting of “Parenting time”
Shorter working hours for childcare
Flextime system for childcare

Limitations on overtime work

Nursing care leave

Reemployment System after Retirement
In 2007, we introduced a system to support the life plans of
employees approaching retirement age by providing them with
one-year temporary employment contracts until they reach theage of 65 after their retirement at 62. 88 employees used thissystem in the fiscal year ended March 2022.
●

Support for balancing work and childcare
Before childbirth

Exemption from overtime work

Restriction on late-night work

work, we are working to improve the employment environment
by making it easier to take childcare and nursing care leave,
introducing shorter working hours and flextime systems, etc.
In 2020, we will extend the scope of the childcare flextime
system until the child reaches the fourth grade of elementary
school, and enable employees to work both shorter hours andflextime systems. In the fiscal year ended March, 2022, 28.0%
of male employees and 100% of female employees tookchildcare leave, and a total of 63 employees used the shorttime work and flextime systems.

DATA

S Supplier Relations

CSR Procurement Initiatives

Diversity

CSR and ESG Initiatives

Exemption from overtime work
Leave for hospital visits

Restriction on overtime work

Restriction on late-night work
Nursing leave and childcare leave

In the fiscal year ended March, 2022, we added 8 substances,including natural mica, to the list of surveyed substances, fora total of 13 substances. We will continue to expand the rangeof target substances and respond to the ever-changing global
situation and social environment.

Restriction of work, reduction of working hours, and absence from work under the guidance of a medical doctor*1 “Child” used in this provision is defined as anyone under the age of 15, or under the age for completing compulsory education, or under the highest of the lowest
working ages stipulated by local laws and regulations.

39

40

What kind of company is Dainichiseika?

G Corporate Governanceagement Headquarters was changed to CSR/ESG Promotion
Group Headquarters on April 1, 2021, in order to accurately allocate management resources to management strategies thatemphasize E (Environmental Consideration), S (Social Contribution), and G (Corporate Governance), with the aim of enhancing
corporate value.

Corporate Governance Structure
Annual Ordinary General Meeting of Shareholders

Harassment Prevention
Committee

Information Management
Committee

Quality Control Committee

Export Control Committee

Chemical Substances
Control Committee

Corporate Health and
Safety Committee

Environment Committee

Internal Control Committee
on Financial Reporting

Supervise &Auditing

Appointment
and dismissal

Board of Directors
Reporting
AdviceSupervise

Supervise

Appointment
and dismissal

Audit & Supervisory
Board
Auditing

Advisory Committee＊1

Appointment
and dismissal

Cooperation

Cooperation

Accounting auditor

Cooperation

Accounting& Auditing

Outside Director and
Auditor Liaison Committee＊2

Cooperation

Cooperation

Operating Committee of Top Management＊3

We believe that it is important to contribute to society through sincere and fair corporate activities that comply
not only with laws, regulations, and internal rules, but also with social common sense and ethical standards.
Under the direction of the President, the CSR/ESG Promotion Group Headquarters works with each committee
to develop and maintain a compliance system.

Promotion Activities

Corporate Governance System

Instruction

The CSR/ESG Promotion Group Headquarters plays acentral role in company-wide promotion activities, focusing onawareness-raising and education.
The main activities are as follows;● To maintain a good working environment, each business basehas a “Harassment Counselor,” one male and one female.
● To raise awareness among employees, we regularly distribute“Compliance Letters” and “Compliance Mini Tests” that
address problems of compliance in their daily lives.
● Training for new employees and post-employment milestone
years, and “harassment training” for management-level
employees.
● Training for overseas Group subsidiaries to raise complianceawareness.
In consideration of effectiveness and efficiency, we utilize
face-to-face group training as well as video training throughe-learning. In addition to these awareness-raising and training
programs, we conduct periodic compliance audits in the formof questionnaires for all departments.

PresidentInternal Audits Division＊4

CSR/ESG Promotion Group Headquarters
Operating Control Committee＊5

Management Liaison Committee＊6

Officer in ChargeGroup of administrative services, Group of business operations, Group of technology, Group of plant operation, Group Companies and so on*1 The Nomination and Compensation Committee, with the aim of strengthening the fairness, transparency, and objectivityof its procedures, deliberates and reports mainly on decisions concerning the nomination and compensation of directors
and titled executive officers of the Company, based on consultations with the President or the directors. The Nomination
and Compensation Committee is composed of three or more directors by resolution of the Board of Directors, a majorityof whom are outside directors, and the chairperson of the committee is selected from among the outside directors bymutual vote of the committee members. The committee met a total of three times during the period from April 2021 toMarch 2022 to deliberate and report, based on the President’s advice, on (1) the selection of candidates for Independent
Outside Director, (2) the selection of Directors and Titled Executive Officers, and the determination of their positions
and grades, (3) the selection of Representative Director, and (4) the amount of compensation for Directors and Titled
Executive Officers.
*2 The Independent Outside Director Liaison Committee consists of Independent Outside Director and all Independent Audit& Supervisory Board Member, and serves as a forum for sharing information on the management and supervision of theGroup, with a focus on matters to be discussed or reported at the Board of Directors, and for Independent Outside Director
to exchange information from an independent standpoint.

41

DATA

GovernanceIn order to continuously obtain the trust of our customers, investors, and other stakeholders, we believe it
is necessary not only to comply with laws and regulations, but also to establish and continuously improve
corporate governance that can achieve both higher levels of checks and balances and “Open discussion”
from both internal and external perspectives. Recognizing that ESG activities are an active part of our CSR
activities, we will continue to develop steady, down-to-earth activities such as information security initiatives
and training for employees, not to mention the prompt and effective decision-making and business execution,
through the constant and accurate operation of our ESG promotion system.

As of June 29, 2022, three (including one female) of theeight directors and two of the four corporate auditors wererespectively appointed from outside the Company in order tostrengthen the monitoring and supervision of decision-making
by incorporating the perspectives of outside personnel independent of management. The name of Group CSR/Risk Man-CSR and ESG Initiatives

G Compliance

Governance

ReportDainichiseika in the future*3 Operating Committee of Top Management: This committee is convened and chaired by the Representative Director
as occasion demands, and is held with the participation of the President & Representative Director, Directors at the
managing director level and above, and other relevant parties involved in the deliberations as necessary.
*4 The Internal Audits Division, as an independent division of Internal Audit, is composed of staff members who are familiar
with and have a high level of expertise in the business, and objectively verifies and evaluates the business from theviewpoint of legality and rationality.
*5 The Operating Control Committee is deliberating in an agile manner on our medium-term plans, budgets, andcapital investments, and manages the profit and loss of business plans, flexibly convening the relevant directors andrepresentatives of divisions or offices depending on the issue.
*6 The Executive Liaison Committee informs the heads of each structure of the decision-making process and confirms theexecution policy of each organizational unit with respect to the decision-making process, and receives reports on thestatus of business execution from each organizational unit to verify appropriateness.

Decision Making and Business Execution System

Audit System

The Board of Directors of Dainichiseika makes decisions onimportant matters concerning the management of the Dainichiseika Group. In addition to the regular meetings of the Board of
Directors, the “Operating Committee of Top Management “ and“ Operating Control Committee “ are held as necessary to discuss important management matters such as basic strategies
and mid-term plans for the entire group, and to report on the
results and progress of such discussions, so that necessary
measures can be implemented as occasion demands. Besides,
internal regulations have been established for the execution ofbusiness operations, clarifying the scope of responsibility according to job level and appropriately delegating authority toenable prompt decision-making.

The Audit & Supervisory Board regularly exchanges information with the accounting auditor and Internal Audits Division
to ensure the systematic and efficient implementation of the
Auditing & Supervisory function.
Corporate auditors also attend Board of Directors and important internal meetings, seeking explanations and expressing their opinions as necessary. They also inspect important approval documents, such as minutes and approval documents,
to audit the execution of Directors’ duties and ensure that ouroperations are being conducted legally and appropriately.

Dainichi Color (Thailand) Ltd.
Compliance training

Compliance with Antitrust andSubcontracting laws
We strive to ensure fair trade by stipulating compliance with
the Antimonopoly Law in the “Code of Conduct for Officers
and Employees” and by providing training based on the Action
Guidelines for Compliance with the Antimonopoly Law.
In addition, in order to promote proper and fair subcontracting
transactions and compliance with laws and regulations, theCompany regularly holds briefing sessions on the Act against
Delay in Payment of Subcontract Proceeds, Etc. to employees
in charge of production, purchasing, and other divisions,and conducts e-learning education. In addition, we promoteparticipation in external seminars sponsored by the Fair Trade
Commission and the Small and Medium Enterprise Agency.

Prevention of Corruption andBribery
In light of the global expansion of our business and thetightening of regulations on bribery around the world, we havebeen promoting enlightenment of Group employees throughthe formulation of our “Basic Anti-Bribery Policy” and “AntiBribery Regulations” and the distribution of our “Anti-Bribery
Handbook” in order to comply with anti-bribery regulations.
As a result, there were no cases of corruption, bribery, or
disciplinary action in the Dainichiseika group in the fiscal year
ended March, 2022.

Internal Reporting System
The Corporate Ethics Hotline has been established by the
CSR/ESG Promotion Group Headquarters, Audit & Supervisory
Board Member, and a law firm as a third-party contact for the
purpose of early detection and correction of any violation or
potential violation of laws, regulations, internal policies, or rulesin the course of the corporate activities. The hotline accepts
consultations and opinions from officers and employees via
a dedicated telephone number and e-mail address, and thepersonal information of the person consulting and the content
of the consultation are strictly managed to ensure that theperson consulting will not be treated unfairly.
In the fiscal year ended March, 2022, there was one case ofwhistleblowing and no case that led to serious risks.

Tax Compliance
We comply with the tax-related laws and regulations ofeach country and region, and strives to pay the appropriate
amount of tax. Although tax planning that benefits cash flow
is implemented, we do not engage in any activities that are
intended to avoid taxation, such as profit shifting to lightly taxedcountries (tax havens).
For international transactions, we prepare transfer pricing
documents in accordance with the laws and regulations ofeach country, based on arm’s length pricing in accordancewith the OECD transfer pricing guidelines, and allocate profits
appropriately according to the business risks borne by thegroup companies and the functions and assets held by thegroup companies. We conduct a thorough review of tax risks
in advance and seek to mitigate tax risks by providing expert
advice and guidance as necessary.

42What kind of company is Dainichiseika?

G Risk Management

GovernanceWe conduct periodic internal investigations of possible
risks in our business activities and the status of our response
to such risks when they emerge. We then identify risks that
could have a significant impact on the Group’s management,
designate a person from management who is in charge ofmanaging and supervising such risks, and work to ensure thatrisks are controlled and that countermeasures and responses
are appropriately implemented when they do emerge.

We handle a wide range of information assets, including
those related to our business partners, product formulations
and manufacturing methods, company management, andpersonal information of officers and employees. We are striving
to improve productivity and reduce the risk of information leaks
by balancing the use of IT and information security measures,
while promoting education and environmental improvements
to ensure that officers and employees handle information
appropriately according to its confidentiality.

(risks with high priority for response)

Change in demand structure
Delays in business
transformation● Risks related to overseas
business operations● Delays in technology andproduct development

Operational Risks
Raw material procurement risk
Risks related to personnel andhuman resource shortages● Chemical substancemanagement risk
● Natural disaster risk
● Information leakage risk

●

●

●

●

BCP Measures
We have established a crisis management system and an
initial disaster response system at each business site to respondto business crises, including large-scale disasters and the
spread of infectious diseases. We are progressively developing
alternative systems for major businesses and product supply,
etc. However, based on lessons learned, such as the fact thatcircumstances do not always turn out as expected in the eventof a large-scale disaster, we are developing business continuity
measures through drills to ensure that we can respond quickly
to various situations.

Information Security
Information obtained and generated through our corporate
activities, as well as personal information of officers andemployees, is handled appropriately and carefully managed
as information assets, and we strive to raise awareness of
information security through various training programs.

43

DATA

G Board of Directors
11

12

8

7

6

9

10

Approach to Information Security■ Major risks for the current fiscal year

Risks involved inManagement Strategy

CSR and ESG Initiatives

GovernanceIn order to manage group-wide risk issues across the board, we have organized the CSR/ESG Promotion
Group Headquarters, headed by a director, to promote risk assessment and oversee overall risk. The Company
has established “Risk Management Regulations” and “Crisis Management Regulations” as internal rules to deal
with various risks at each organizational unit that is in charge of and manages business operations.

Risk Management Survey

Dainichiseika in the futureManagement System
Based on the “Basic Policy on Information Security,” we haveestablished the “Information Security Management Regulations” and implements organizational measures, measures tobe followed by officers and employees, and information security measures for information equipment. As a management
system to ensure the implementation of these measures, wehave appointed a person in charge of Information Security Implementation for each division and business site that conducts
the actual operations, an Information Security Manager to oversee the Information Security Implementation Manager, and a
Chief Information Security Officer to oversee the entire Group,
thereby clarifying responsibilities and roles.

Efforts
In order to transform our business, organization, operations,and processes, and to establish a competitive advantage inthe future, we are promoting DX and implementing security
measures, including appropriate access rights management,
authentication and authorization for information systems, andcomputer virus countermeasures for information equipment.
Information assets are classified and managed according
to their importance, and we strive to raise awareness of
information security through ongoing training for officers andemployees to reaffirm the importance of the information theyhandle on a daily basis, education on information security, andalerting them to security incidents that are becoming moreprevalent.

5

3

1

2

4

Serge Poliakoff Composition © ADAGP, PARIS & JASPAR, TOKYO, 2022 E4659

List of Directors, Corporate Auditors and Titled Executive Officers (as of June 29, 2022)
In accordance with the corporate philosophy, vision, values, and code of conduct, we strive to maximize the sustainable development
and corporate value through fair business activities.
1

Representative Director
and President

Koji Takahashi

Business Operations Promotion Office, Office of the President, Secretarial Office, Internal Audits Division, and CSR/ESG Promotion Group
Headquarters Administrator Chief Information Security Officer

2

Representative Senior
Executive Director

Yoshitaka Koshiro

Head of R&D Structure

3Managing Director

Keiji Hirota

Head of Business Promotion Structure Personnel & General Affairs Division, Public Relations Division, Central Purchasing Division, andOverseas Business Division Administrator

4

Director

Masafumi Ichinoseki

Head of Business Structure Pigments Division, Specialty Colors Division, Plastic Colors No. 1 Division, New Business Development
Division, and Offset Inks Division Administrator

5

Director

Masahiko Aoba

Head of Plant Operation Structure Plant Operations Headquarters, Tokyo, Osaka, Tokai, Kawaguchi, and Bando Production Plants, Sakura
Production Plant (UKIMA Chemicals & Color Mfg. Co., Ltd.), Composite Plant Engineering & Planning Division Administrator

6

Independent Outside
Director

Yoshiaki Nakagawa

7

Independent Outside
Director

Akiko Nagahama

8

Independent Outside
Director

Susumu Kawase

9

Audit ＆ Supervisory Board
MemberKatsuhisa Kawada

10

Audit ＆ Supervisory Board
MemberYoshiro Gamo

11

Independent Audit ＆Supervisory Board Member

Kohei Sato

12

Independent Audit ＆Supervisory Board Member

Hidemi Yamaguchi

Senior Executive Officer

Osamu Takeda

Sub-Head of Business Structure Plastic Colors No. 2 Division, Coating Materials Division, Gravure Inks Division, Advanced Polymers Division

Senior Executive Officer

Tatsuhiko Komada

Sub-Head of Business Promotion Corporate Planning & Control Division, Corporate Finance & Accounting Division, Information
Management System Division

Managing Executive
Officer

Taiyo Aoyagi

Sub-Head of R & D Structure Organic Synthesis Research Division, Application Research No.1 Division, Application Research No.2
Division, Technical Coordination Division

Managing Executive
Officer

Toshio tani

Sub-Head of Plant Operation Structure Narita Production Plant (Hi-Tech Chem Co., Ltd.), Kazo, Togo , Katano Production Plant, (Dainichi
Color Composite Co., Ltd.) Kyushu Production Plant（Kyusyu Dainichiseika Co., Ltd.）, Kumamoto Production Plant (Kyushu Kako Co., Ltd.)

Skill Matrix of Directors and Titled Executive Officers (as of June 29, 2022)
Directors
Knowledge/Experience/Skills and Fields expected
Corporate management/Business strategy/Leadership
CSR/ESG/ Compliance
Finance/Accounting/Tax affairs
IT/Information systems
Personnel affairs/Labor affairs/Human resource development
Technological development/Technological development management
SCM/Logistics
Industry and industry trends/Marketing/New businesses
Supply/Manufacturing
Internationality/Diversity

Koji
Yoshitaka
Takahashi Koshiro

Keiji
HirotaTitled Executive Ofﬁcers

Masafumi Masahiko Yoshiaki
Akiko
SusumuIchinoseki
Aoba Nakagawa Nagahama Kawase

Osamu
Takeda
●

●

●

●

●

●

●

●

●

●

●

●
●

Toshio
Tani

●

●

●
●

●

●

●

Taiyo
Aoyagi

●

●

●

●
●

Tatsuhiko
Komada

●

●

●

●

●

●

●

●
●

●
●
●

●
●

●

●
●

●

●
●

●
●

●
●

44

What kind of company is Dainichiseika?

Reasons for Appointment of Independent Outside Directors and Independent Outside
Auditors and Their Main Expertise

Independent
OutsideDirector

Independent
Outside Audit＆ Supervisory
Board Member

CSR and ESG Initiatives

DATA

Company ProﬁleG Board of Directors

Governance

Title

Dainichiseika in the future

Name

Reason for Appointment

YoshiakiNakagawa

We have elected him because we believe that his extensive experience and wide-ranging insight, gained from his years oforganizational operation and management as a general officer of the Ground Self-Defense Force and from his experience as
an advisor to business corporations, will enable him to provide useful advice on organizational operation, corporate
governance, and other corporate activities of the Dainichiseika Group from a broad and sophisticated viewpoint.

Akiko
Nagahama

We have elected her based on her professional knowledge and experience as an attorney, particularly in compliance andcorporate legal affairs in general, which is expected to contribute to strengthening the legal risk management and corporate
governance of the Dainichiseika group.

SusumuKawaseHe has served as Executive Vice President of Soken Chemical & Engineering Co., Ltd. and can be expected to further strengthen
and enhance the Company’s management system, including strengthening the supervisory function of the Board of Directors,
by utilizing his abundant experience and broad insight as a corporate manager. From the fact that he has also served as
Managing Director and General Manager of the Research and Development Center of the said company and as Executive Vice
President and General Manager of the Sayama Plant of the same company, we have elected him because we believe that hecan provide useful advice to the corporate activities of our group based on his experience and knowledge of technology
development and production.

Kohei
Sato

We elected him because we believe that he can provide useful advice to ensure the adequacy and appropriateness of decisionmaking by the Board of Directors, exchange opinions on audit results with the Audit & Supervisory Board, and discuss
important audit-related matters, based on his extensive experience and capabilities as a corporate manager at othercompanies and his wide-ranging insight.

Hidemi
Yamaguchi

The Audit & Supervisory Board elected him based on the judgment that he can provide useful advice from his professional
perspective as a tax accountant in ensuring the validity and appropriateness of decision-making by the Board of Directors,
exchanging opinions on audit results with the Audit & Supervisory Board, and discussing important matters related to audits.

Company name

Dainichiseika Color & Chemicals Mfg.
Co., Ltd.

Head Office

1-7-6 Nihonbashi Bakuro-cho, Chuo-ku,
Tokyo 103-8383 JAPANContent of
Business

Manufacturing and sales of:-inorganic, organic, and processed
pigments-colorants for plastics and textiles-printing inks, coating agents, andrelated equipment-synthetic leather materials and otherpolyurethane-polymers derived from natural
substances-functional materials and CCM systems

Founded

October 16, 1931

President &Representative
Director

Koji Takahashi

Capital10,039 million yen(Tokyo Stock Exchange, Prime Market)

Number of
employees

Dainichiseika 1,443
Including subsidiaries 3,750(As of March 31, 2022)

Organizational Schematic
As of September 1st, 2022
Business Operations
Promotion Office
Office of the President
Secretarial Office
Corporate Planning &Control DivisionCorporate Finance &Accounting Division
Business
Promotion
Structure

Central Purchasing Division

Board ofDirectors

Overseas Business Division
Pigments Division

President

Specialty Colors Division
Plastic Colors No.1 DivisionInternal
AuditsDivision

CSR/ESG
Promote Group
Headquarters

Business
Structure

Company
Briefing
August2021

Advanced Polymers
Division
New Business
Development Division

2nd Quarter

Apr. May June
Earnings
Announcement

Individual
Interviews

Institutional Investors
Analysts

November2021

2nd Quarter
Financial Results

Institutional Investors
Analyst9 companies

February2022

3rd Quarter
Financial Results

Institutional Investors
Analyst3 companies

In conjunction with the announcement of our medium-term management
plan in August 2021, we have decided to more actively promote IR
activities such as company briefings and individual meetings. Throughdirect dialogue with shareholders and investors, we will promote
understanding of our business and strive to become a corporate groupthat is trusted by and has a long-lasting relationship with its shareholders
and investors.

Financial Results Briefing45

3rd Quarter

4th Quarter

Jul. Aug. Sept. Oct. Nov. Dec. Jan. Feb. Mar.

Ordinary General
Meeting of
Shareholders

Announcement of
1Q Financial Results

R&D
Structure

Announcement of
2Q Financial Results

2Q Financial
Results Briefing

Announcement of
3Q Financial Results

Application Research No.1
Division
Application Research No.2
Division
Technical Coordination
Division

23 people

IR Calendar
1st Quarter

Organic Synthesis
Research Division

Attendees

9 companies
8 of which
presidents
attended

Coating Materials Division
Gravure Inks Division

Audit & Supervisory
Board

Dialogue results for the FY ending March, 2022
Subjects
Institutional investors
Analysts
Financial Institutions
Media

Plastic Colors No.2 Division
Offset Inks Division

G Dialogue with Shareholders and Investors
Opportunity

Personnel & General
Affairs Division
Public Relations Division

GovernanceWe believe that constructive dialogue with shareholders andinvestors contributes to both shareholder and corporate valueenhancement and utilizes their feedback in management. As
part of our internal structure, we have designated a director
in charge of IR, and through collaboration among all relevant
divisions, we share information and promote dialogue withthem, with the Public Relations Division serving as the pointof contact.
In order to gain a deeper understanding of our business and
ESG management initiatives, in the fiscal year ending March,
2022, we held a company information session in August for
institutional investors and sell-side analysts to explain themedium-term management plan newly initiated. We willcontinue to strive to enhance opportunities for dialogue anddisclose information in a timely, appropriate, and fair manner.

Information Management
System Division

Plant
Operation
Structure

Basic Stock Information
Listed Market

Tokyo Stock Exchange, Prime Market

Stock Code4116

Industrial
Classification

ChemicalTrading unit ofshares

100 shares

Total number ofauthorized shares

50,000,000 shares

Total number ofshares issued

18,613,110

Number ofshareholders

3,685 (as of March 31, 2022)

Plant Operations
Headquarters
Production Plants
Composite Plant
Engineering & Planning
Division

Settlement date

One year from April 1 of each year to
March 31 of the following year

Ordinary General
Meeting of
Shareholders

June every year

Record Date for
Shareholder
Determination

March 31 every year

Method of Public
NoticeWe use electronic public notices.
(Our website is https://www.daicolor.
co.jp/english/ir/index.html)
In the event that we are unable to
make electronic public notices due toan accident or other unavoidable
circumstances, public notices will be
posted in the Nikkei.

46

What kind of company is Dainichiseika?

CSR and ESG Initiatives

DATA

Consolidated Financial Highlights

Group Network

Net Sales (Millions of yen)Domestic

Overseas

Sales Bases

Asia

5.9

East Japan Head Branch Sales

Dainichiseika（HK）Ltd. Sales

5.9

Hokkaido Branch Sales Production

Dainichiseika（HK）Colouring Co., Ltd. Sales

Sendai Branch Sales

Dainichiseika（Shenzhen）Trading Ltd. Sales

Shizuoka Office Sales

Dongguan Dainichi Chemical Manufactory Co., Ltd.

Fuji Office Sales

Sales Production

155,108
155,108
155,108
155,108
117th Periods
2020/32020/3Return on equity (%)

138,491
138,491

121,933

138,491
138,491
118th Period
2021/32021/3

121,933
121,933
119th
Period2022/32022/32020/32021/32022/3117th Periods

118th Period

119th Period

117th Periods

118th Period

119th Period

2021/3 of yen)
Operating2020/3
income (Millions
2020/32021/3

6.5

121,933

117thofPeriods
118thforPeriod
119th Period*Adoption“Accounting Standard
Revenue Recognition”
from the 119th Period2022/32022/3

4.2

6.5

4.2

6.5

4.2
117th Periods

6.5
118th Period

5.9
119th
Period4.2
117th Periods

118th Period

119th Period

117th Periods

118th Period

119th PeriodWest Japan Head Branch Sales

117th Periods

118th Period

119th PeriodOkayama Branch Sales

2020/32020/32020/32021/32021/32021/3(%)
Return on2020/3
total assets2021/3
2020/32021/3

4,850

4,850
4,920

4,850

4,850
4,920

117th
Periods
4,850
2020/32020/3118th
Period4,850
4,920
2021/32021/35.92022/32022/32022/32022/32022/3

4.2

7,446
3.0

2.9

3.0

2.9

119th Period

117th3.0
Periods

118th2.9
Period119th Period

118th2.9
Period119th Period

118th Period

119th Period

118th Period(%)
Dividend 2020/3
payout ratio 2021/3

7,446
7,446
7,446
2022/32022/32020/32020/32021/32021/34.2

4.2
2022/32022/3117th
Periods
4,850

118th
Period4,850
4,920

119th Period

117th Periods

118th Period

119th Period

117th Periods

118th Period
119th Period
2021/3of yen)2022/3
Ordinary 2020/3
income (millions

117th
Periods
36.2

119th Period

36.2

24.0

2020/32021/32021/32022/32022/3117th Periods

8,315

5,582
5,582

5,613
5,613

8,315
8,315

2020/32020/32021/32021/3(As of September 1, 2022)

Central Japan Head Branch Sales
Hokuriku Branch Sales

Hiroshima Branch Sales
Shikoku Branch Sales
Kyushu Branch (Kyusyu Dainichiseika Co., Ltd.) Sales Production

2022/32022/32022/3

36.2

13.2

36.2

13.2

24.0

24.0

Production and Technical Service Bases
Hokkaido Branch Sales Production
Bando Production Plant Production Engineering
Kawaguchi Production Plant Production Engineering
Tokyo Production Plant Production Engineering
Tokai Production Plant Production Engineering

Narita Production Plant(Hi-Tech Chem Co., Ltd.) Production Engineering

5,582
117th
Periods

5,613
118th
Period119th Period

117th Periods

118th Period
13.2
2021/3119th Period

117th Periods

118th Period

119th Period

117th Periods

118th Period
2021/3
9,001

119th Period

Kazo Production Plant (Kazo Production Plant, Dainichi
Color Composite Co., Ltd.) Production Engineering

117th Periods

118th Period

119th Period

117th
Periods
7,396

118th Period
2021/3
9,001

119th Period

2020/32020/32021/32021/36,343

2022/32022/32022/3

6,166

6,343
Net income
attributableto owners6,166
of the parent
3,977(Millions of yen)
3,977

6,343

2020/32020/32020/37,396

2022/32022/324.0
2022/32022/32022/3

4,965

9,001
of yen)Capital expenditures (millions
4,965
7,396
9,001

6,166

4,965

7,396
118th Period

119th Period

3,977
117th Periods

118th Period

119th Period

117th Periods

118th Period

119th Period

Affiliated Companies

117th Periods

118th Period

119th Period

117th Periods

118th Period

119th Period

D.S.F. Co., Ltd. Other

117th Periods

118th Period

119th Period

117th Periods

118th Period

119th Period

2020/32020/32020/32021/32021/32021/32022/32022/32022/32020/32020/32020/32021/32021/32021/32021/32021/3

EuropeKumamoto Production Plant(Kyushu Kako Co., Ltd.) Production

117th Periods
2020/32020/3

Hi-Tech Color, Inc. Sales Production

Kyushu Branch(Kyusyu Dainichiseika Co., Ltd.) Sales Production

6,166
119th
Period2022/32022/3

America

Katano Production Plant (Katano Production Plant,
Dainichi Color Composite Co., Ltd.) Production

6,343
118th Period
2021/32021/3Dainichi Color India Private Ltd. Sales Production

Togo Production Plant (Togo Production Plant, Dainichi
Color Composite Co., Ltd.) Production

3,977
117th Periods
2020/32020/3Dainichi Color Vietnam Co., Ltd. Sales Production

Dainichiseika Color & Chemicals Mfg. Co., Ltd.
Europe Representative Office Other

119th Period

2021/3

PT. Hi-Tech Ink Indonesia Sales Production

Sakura Production Plant (Sakura Production Plant, UKIMA
Chemicals & Color Mfg. Co., Ltd.) Production Engineering

118th Period
13.2
2021/32021/32020/3

Sambo Fine Chemicals Mfg. Co., Ltd. Sales Production

Plalloy MTD B.V. Sales Production

117th Periods
2020/32020/3AEOLIAN Corporation Sales Production

Shiga Production Plant Production Engineering

119th
Period8,315
2022/32022/3

Tai Chin Chemical Industry Co., Ltd. Sales Production

Daicolor Italy S.R.L. Sales

5,613
118th
Period2021/32021/3

Shanghai Mitsui Plastic Compounds Ltd. Sales Production

Osaka Production Plant Production Engineering

5,582
117th
Periods
2020/32020/3

Daicolor Shanghai Mfg. Co., Ltd. Sales Production

Dainichi Color (Thailand) Ltd. Sales Production
4.2

117th3.0
Periods

2020/347

Dainichiseika in the future

4,965
2022/32022/32022/32022/32022/3Dainichiseika Kako Hanbai Co., Ltd. Other
Color Planning Center Inc. Other

48