Sustainability
Report 2022

NISSIN CORPORATION
Yokohama Head Office6-81 Onoe-Cho, Naka-Ku, Yokohama, 231-8477
TEL: +81-45-671-6111

Tokyo Office
6-4, Kojimachi 1-chome, Chiyoda-ku, 102-8350 Tokyo
TEL: +81-3-3238-6666
Scope of report: Nissin Corporation and its subsidiaries (the Nissin Group)
Period covered: April 1, 2021 - March 31, 2022
(This report also includes some related information that is outside this period.)

Official Home Page

https://www.nissin-tw.com/english
Contact details for inquiries
Corporate Planning Dept.
PR & IR Section
TEL: +81-3-3238-6555
E-Mail: planning_prir@nissin-tw.com

NISSIN
Sustainability
Report2022

Sustainability Philosophy

The Company and Stakeholders

Contribute to a decarbonized,
recycling-based society bypromoting green management

Globalenvironment
Our mission is to contribute to the sustainable
development of society
as a good corporate
citizen, and we carry out
free and fair corporate
activities globally, with astrong sense of ethicalvalues.

Corporate Philosophy

Bring happiness to theworld through logistics

PurposeIn our spirit of “Improving day by day”,
the Nissin Group’s aim is to “contribute to the sustainable development ofsociety”, “provide high-quality services
to realize a prosperous society”, and“grow as a group in line with the expectations of our stakeholders”

Basic Sustainability Policy

Basic Policy of Medium-Term Business Plan

Materiality

Address social issues
through partnerships

Pursue the world's top
quality through strong
trust and collaboration

Raise corporate value
through timely,
appropriate and fairdialogue

Industrygroups
Initiatives

Harmonize with local
communities and create
bonds with the world

Local communities
Global community

Business
partners

Customers

Deliver trust to bringsmiles and satisfaction

Government

Promote responsible
corporate activities

Financial Information

Non-financial Information

Shareholder and investor information(website)https://www.nissin-tw.com/ir/

Sustainability (website)
https://www.nissin-tw.com/company/csr/

Shareholders

Employees

Four themes
to realize a sustainable society

As a global logistics provider, we will take onchallenges in new business domains, further
cultivation of core businesses and engage
in ESG management.

Natural capital

Earth

CONTENTS

Human/
intellectual capital

Quality

PeopleRespect every person andmaximize their capabilities

Social capital

Trust

NIS S IN Sustainability Report 2022
ESG Initiatives

Nissin Group3

Sustainability Overview

19

Nissin Group by the Numbers

5

Environment

21

Business Model

7

Society23

Global Network

8

Governance25

Message from the President

9

Financial Information

27

New Medium-Term Business Plan

13

Company Data & Stock Information

29

Logistics Business

15

Travel Service & Real Estate Business17

the 2022 edition in place of the previous CSR Reports.

Tools Map

To clearly communicate the Nissin Group’s business activities to awide range of stakeholders, the report includes not only financial
information but also non-financial information such as our growthstrategy and ESG (Environmental, Social, Governance) information.

Sustainability report

This report is intended to provide a better understanding of theData Section

Strategy by Business Segment

Editorial Policy
The Group has newly published a Sustainability Report starting fromHistory of Nissin

Growth Strategy

1

Manufacturing/
intellectual capitalGroup’s activities.
Scope of report: Nissin Corporation and its subsidiaries (the Nissin
Group)
Period covered: April 1, 2021 - March 31, 2022
(This report also includes some related information that is outside thisperiod.)Securities report
Summary of financial results

Corporate governance report

Financial results presentation
document

2

NISSIN
Sustainability
Report2022

Nissin Group

History of Nissin
As a pioneer in international comprehensive logistics, Nissin Corporation provides a full range oflogistics services including ocean, air, rail, and truck transport, as well as warehousing, moving,
and customs clearance.

2020 COVID-19
2011 Great East Japan Earthquake

Major eventsin society
1930

1951 San Francisco Peace Treaty
1940

1955 - 1973 Japan’s rapid economic growth period

1950

December 1938 Established Nissin Transport Co., Ltd.
in Kawasaki, Japan
October 1942
Relocated head office
to Yokohama

1960

April 1970

1970

Started ocean export of completely built up(CBU) vehicles

1991 Burst of the economic bubble
1980

October 1984
January 1985
October 1985
October 1987

1990

2008 Global financial crisis
2000

Established Nissin Transport (Canada) Inc. as alocal subsidiary in Canada
Established Nissin Transport G.m.b.H. as a local
subsidiary in West Germany
Changed company name to Nissin Corporation
Established Siam Nistrans Co., Ltd. as a local
subsidiary in Thailand

2010

August 2004

2020

Established PT. Nissin Transport Indonesia as alocal subsidiary in Indonesia

PT.NISSIN TRANPORT INDONESIA

March 2005
Head office of Nissin Transport Co., Ltd. Tokyo Sales Office

March 1946

Changed company name to Nissin
Trading Co., Ltd.
November 1948 Established Kobe Branch Office
April 1949
Started warehousing business andstrengthened warehousing department

Exporting CBU vehicles

May 1973

Listed on First Section of the Osaka Stock
Exchange
December 1973 Established Nissin International Transport
U.S.A., Inc. as first overseas subsidiary
SIAM NISTRANS CO., LTD.

Strengthened warehousing department

Changed company name to Nissin
Transportation & Warehousing Co., Ltd.
April 1950
Listed on First Section of the Tokyo Stock
Exchange
April 1950
Port and harbor transportation began in port of
Yokohama
November 1954 Established Tokyo Branch Office
May 1958
Established Osaka Branch Office
July 1961
Entered the travel service businessAugust 1961
Completed Kanagawa Pier and started
operations as Nissin Pier

NISSIN INTERNATIONAL TRANSPORT U.S.A., INC.

January 1950

January 1974

July 1975
April 1978
April 1981
October 1981

March 1983
October 1983
October 1983

Established Nissin Transportation &Warehousing (H.K.) Ltd. as a local subsidiary inHong Kong
Established London Branch Office
Spun off air travel section into Nissin Travel
Services Co., Ltd.
Established Hokkaido Nissin Transportation &Warehousing Co., Ltd.
Consolidated five offices in different Tokyo
wards to establish Tokyo Office(5, Sanban-cho, Chiyoda-ku, Tokyo)
Nissin Aircargo Co., Ltd was established upon
obtaining Airfreight Forwarder License
Established Nissin Transport (S) Pte., Ltd. as alocal subsidiary in Singapore
Spun off London Branch Office to the local
subsidiary Nissin (U.K.) Ltd.

December 1987 Established Nissin Transport Ges. M.B.H. as alocal subsidiary in Austria
October 1988
Established Nissin Transportes Espana S.A. in
Spain
April 1992
Established Nissin France S.A.S. as a local
subsidiary in France
August 1992
Established joint venture Shanghai Gaosin Trade& Warehousing Industrial Co., Ltd. in Shanghai,
China
June 1994
Established Nistrans (M) Sdn. Bhd. as a local
subsidiary in Malaysia
February 1995 Established joint venture Changshu NissinSinotrans Transportation Co., Ltd. in China
March 1995
Established Nissin Airport Service Co.,Ltd. forground service in Kansai International Airport.
March 1997
Established joint venture Jiangsu
Nissin-Sinotrans International Transportation
Co., Ltd. in China
April 1997
Established Nissin Belgium N.V. as local
subsidiary in Belgium
December 1997 Established joint venture Nissin Transport Philippines Corporation in Philippines
May 1999
Established joint venture Nissin ABC Logistics
Private Ltd. in India
July 2000
Established Nistrans Internacional de Mexico,
S. de R.L. de C.V. as a local subsidiary in
MexicoNISSIN LOGISTICS POLAND SP. Z O.O.

November 2009 Acquired Tsurumi Warehouse Co., Ltd., as a
subsidiary
February 2012

Established Lao Nissin SMT Co., Ltd. as a local
subsidiary in Laos

June 2012

Established Nissin Logistics Shenzhen Co., Ltd.
as local subsidiary in Shenzhen City, China
Acquired Shanghai Gaosin International
Logistics Co., Ltd. as a subsidiary

October 2013
March 2014

Established joint venture PT. Nissin Jaya
Indonesia in Indonesia

January 2017

Established Nissin International Logistics (M)SDN. BHD as local subsidiary in Malaysia

March 2017

Acquired Changshu Nissin-Sinotrans
Transportation Co., Ltd. (currently Nissin(Changshu) International Logistics Co., Ltd.) asa subsidiary

December 2018 Marked 80th anniversary
April 2019
Established joint venture Nissin Global Logistics(Taiwan) Co., Ltd. in Taiwan, R.O.C.
February 2022

Nissin Kanagawa Pier

April 1969
July 1969

Established LLC Nissin Rus as a local
subsidiary in Russia
November 2005 Established joint venture Nissin-SinotransInternational Logistics Co., Ltd. in Beijing, China
May 2006
Established Nissin Logistics (VN) Co., Ltd. as alocal subsidiary in Vietnam
June 2007
Established Nissin Logistics Poland Sp. zo. o asa local subsidiary in Poland

Established Chiba Branch Office
Established Sapporo Branch Office

NISSIN (U.K.) LTD.

Relocated Tokyo Office to current location(6-4, Kojimachi 1-chome Chiyoda-ku, Tokyo)

NISTRANS INTERNACIONAL DE MEXICO,S.DE R.L.DE C.V.
Tokyo Office

April 2022

3

Moved to Tokyo Stock Exchange Prime Market

4

Nissin GroupNISSIN
Sustainability
Report2022

Nissin Group by the Numbers

192,699

Consolidated net sales

Consolidated
operating income

9,098

million yen

We are comprised of 78 companies in Japan and abroad.

Area of warehouses

Equal tomillion yen

Nissin locations in

24

countries and regions

We have offices and logistics

78

Group companies

18

Number of employees

5,920

We manage 840,000m2 ofTokyo Domes abroad.

Women’s return rate from childcare leave*

world.

1.7

Over 10,000,000 tons of cargo transported annually*
Total weight of cargotransported annually* by
Nissin equals toovermillion African elephants

100
100

Women’s childcare
leave acquisition rate*

networks in 24 countries
and r egions around thewarehouses in Japan and%%Examinees who passed the Qualifying Examination for Registered Customs Specialist*

154

Nissin has 154 people who have passed the
Qualifying Examination for Registered Customs
Specialist who work as customs
professionals daily.

* Non-consolidated basis
5

6

Nissin Grorp

NISSIN
Sustainability
Report2022

Business Model

Global Network

The Nissin Group operates a worldwide logistics business as well as travel service and realestate businesses.

The Group’s overseas locations span 24 countries and regions and 37 local subsidiaries (including
joint venture companies). A finely tuned global logistics network has been established through ourabundant overseas bases, providing a one-stop service to meet diverse customer needs from air

Logistics businessAir cargo, Ocean Cargo, Port/warehouse, Domestic services, on-site operation service

cargo, sea cargo, ports and warehousing, to domestic Japanese operations.
Regarding overseas subsidiaries and affiliates in the logistics business, we have four companies inTravel service businessNissin provides total support to companies and other organizations for their business trips.
Nissin proposes travel plans that are tailored to the organization’s objectives for business inspection
tours, training trips, seminar and event tours, and more.

Real estate businessNissin operates commercial buildings and parking lots and leases land for commercial use mainlyin the Keihin area.

the Americas, seven companies in Europe, 1 7 companies in the Southeast Asia/India region, andnine companies in East Asia (as of the end of March 2022).

Logistics Network
Travel service business: 9 companies

Logistics
business

Air cargo
Ocean cargo
Port/warehouse
Domestic services

Real estate business: 4 companies(incl. 1 specialized real estatecompany)

Europe:7 companies

East Asia:
9 companies

The Americas:
4 companies

Japan: 30 companies

Nissin Group’sbusinesses

Travelservicebusiness

7

Real
estatebusiness

Asia/India region: 17 companies

8

NISSIN
Sustainability
Report2022

Growth Strategy

Message from the President“Bring happiness to the world through logistics”
All our employees have asked themselves what the val-

In June 2022, the ocean adventurer Kenichi Horie

ue of our company’s existence is and how we can be-

succeeded in becoming the oldest person in the worldcome a company chosen by our customers, which has

to sail solo across the Pacific Ocean from San Francis-

naturally led to our Purpose we have today.

co to Nishinomiya. We aided in transporting his yacht

We have connected with many people, and as theseconnections have expanded, we consider all of them

We will be a corporate group,

to be our stakeholders, from local communities to theglobal community and local environments.

recognized as valuable by our communityfrom Nishinomiya to his starting point of San Francisco,playing a part in a truly inspiring event.
We believe our purpose can be fulfilled by transporting things to bring people emotion, joy, and consideration to all people and bring happiness to the world.

and all our stakeholders, that can“Nissin for Emergencies” to solve customers’ urgent situations“bring happiness to the world through logistics.”

With the spread of the pandemic, logistics delays

customers’ problems based on the experience weoccurring around the world have forced unforeseen

have gained through close relationships with major

measures in response. In such circumstances, weinternational land, ocean, and air carriers and utilizing

were the first in the industry that offered global in-

our various knowhow. We are proud to be recognizedtermodal transport services, and strived to solveby our customers as “Nissin for emergencies.”

Tsutsui Masahiroi

President

Achieving record profits thanks to agile response amidst turmoil in international logistics

Expanding our logistics network to 24 countries and regions based on thefounder’s principles of “Harmony, Sincerity and Effort”

During the period of the Sixth Medium-Term Business

top-quality logistics company,” we were able to build

Plan which ended in the previous fiscal year, unpre-

new warehouses and update aging facilities according

dictable scenarios such as trade disputes between

to plan in order to strengthen the earnings base of pri-the United States and China, and the outbreak andority areas. Although it was a large investment, we be-

spread of COVID-19 occurred, greatly changing thelieve we made a good investment that will lead to profit

global logistics environment. These events rocked theunder the Seventh Medium-Term Business Plan, whichfoundation of the Sixth Medium-Term Business Plan. In

was newly launched this year.

the final year of the plan, we faced a global cargo space
crunch due to urgent cargo demand and other factors
due to the COVID-19 pandemic, however we wereable to achieve our initial plan by focusing on securing

Nissin was founded 84 years ago in 1938 as an in-har-Under the principles of “Harmony, Sincerity and Effort”

spaces to provide for transportation. We believe thesebor transport company between Tokyo and Yokohamathat were continually advocated by our founder Sataro

results were achieved by shifting our focus to first se-

to transport oil and coal. We expanded to overseas

Tsutsui, we have consistently taken on new challenges

curing space for both ocean and air transportation andoperations in 1955 when we handled services for expo-

in the spirit of our corporate philosophy of “improving

providing this to our customers. In addition, the travel

sitions held in China and Japan before the normalization

day by day” during this period. We aim to constantly

business, which handles a large volume of overseasof diplomatic relations between the two countries, andreinvent ourselves, from creating logistics service prod-business travel services, was severely impacted by thewith the pursuit of overseas expansion beginning in

ucts that utilize DX, to participation in the creations ofpandemic, however the business was able to make sig-

earnest in the 1970s, our international logistics network

systems that transcend industries.

nificant improvements due to successful cost reductions

now spans 24 countries and regions.

(Billions of yen)

Operating income (Billions of yen)

Net sales

300

15

275.0
(Targets)

11.0

200

192.6

(Results) 9.0(Results)

190.0(Targets)

10(Targets) 8.5(Targets)

100

5including the consolidation and elimination of offices.
Policy-wise, under the basic policy of “Global logistics provider - Further innovate to become the world’s

9

Results of Sixth Medium-Term Business Plan & quantitativeof Seventh Medium-Term Business Plan
(Bil ionstargetsof yen)

0

0
2021

2023

2026

(Fiscal year)

10Growth Strategy

NISSIN
Sustainability
Report2022

Message from the President

the Executive Committee, and in April, as we enteredsustainability activities and resolve issues in promoting

into the Seventh Medium-Term Business Plan period,

ESG management, implementing specific plans in suchan ESG office was newly established as its imple-

processes.

menting organization. We will strive to strengthen our
Current ESG conditions and initiative details

P19-P26

Seeking to realize a prosperous society aligned with the expectations of each of our stakeholders
by providing services that contribute to the sustainable development of society
In December 2021, the Group established its “basic

challenges and we will be swiftly establishing a GHG

Seventh Medium-Term Business Plan
Phase 1 “Build strong management fundamentals”
Phase 2 “Achieve great leaps forward” = Creating corporate value at a higher levelsustainability policy” and “four themes to realize aemissions calculation system, assessing the current

sustainable society,” and in August 2022 we identified

emission status and setting CO2 reduction targets thatfour materiality (important issues). Of these, we placealso take Scope 3 emissions into account, systemati-a particular emphasis on “contributing to a decarbon-

cally promoting efforts to achieve carbon neutrality by

The Group has begun its Seventh Medium-Term Busi-

optimal logistics, providing one-stop service for “cus-ized and circulating society” as a pressing issue in

2050.

ness Plan, comprised of Phase 1, “Building businesstom-making”, “control”, and “operation” of logistics

light of our business activities. As a related initiative,

Promoting sustainability is a prerequisite for our cor-foundation and management fundamentals suitable forcontainers, and Forward ONE, digital forwarding ser-

we are currently diligently preparing measures for the

porate activities and can be regarded as a businessthe next generation (Society 5.0)” (April 2022 throughvice, visualizes complicated international logistics oper-

TCFD (Task Force on Climate-related Financial Dis-

continuity plan (BCP) to maintain our business envi-

March 2024) and Phase 2, “Ensuring implementation

ation processes and enables customers centrally to

closures) recommendations based on the 1.5

sce-ronment and continue our business on a long-termof measures and achieving further growth” (April 2024

manage “estimate”, “order”, and “operation progress”

nario analysis in order to address climate change andbasis. The Nissin Group will strive to contribute to thethrough March 2027). We aim to both achieve our tar-

online. We are also involved in the industry-academic

environmental regulations. In addition, we recognize

sustainable development of society and meet the ex-gets and create high corporate value by implementing

joint invested “TradeWaltz” business, which aims tothat understanding the greenhouse gas (GHG) emis-

pectations of each of our stakeholders.

completely digitize the analogue communication that issions of the Group as a whole is one of our current

two closely linked phases.
This new medium-term business plan has three major
points.

will continue to create new products through further DX

The first point is that we will spend the two years ofenhancement and further improve operational efficiency

Phase 1 firmly establishing a solid system for imple-

and warehouse location management by implementing

Prompt preparation for future progress while balancing investment in future growthand stable dividends with a focus on increasing dividends

menting measures and progress management baseda real-time location information function that utilizes IoT

In recent years we have been faced with unprecedent-

Despite the ongoing pandemic and geopoliticalon a new three-dimensional portfolio by business, in-technology for HACO Lab., expand services for For-ed challenges such as the spread of COVID-19 andrisks, we will continue to make efforts towards the

dustry, and region. With a new core system launchedward ONE to complete ship reservations, and leverageunrest in Ukraine. Such events forced a reduction in

future in the series of measures described above,

under the Sixth Medium-Term Business Plan mentioned

our knowledge to promote development at TradeWaltz.

logistics activities worldwide and resulted in contain-

and in the research and provision of irregular services

previously, we are now able to formulate more precise

Regarding the “development of inter-industrial fields,”

ers being held up at sea, leading to a global containersuch as freight route proposals for our customers. We

management strategies and sales policies. In the Sev-

we have sent elite members of management to an in-shortage, as well as a surge in ocean and air freight

will continue our efforts to pay stable dividends forenth Medium-Term Business Plan, we will further effec-

dustry-academia joint program to learn the specifics

rates. Under these circumstances, the Group has lev-

our shareholders and strike a balance between con-tively utilize this system during the two years of Phaseof the commercialization process for new businesses,

eraged the experience and knowledge it has gained

tinuous investment in future growth and shareholder

1 to build a three-dimensional business portfolio (byworking to create new business ideas to expand ourover 80 years to respond to customer needs. Al-

returns.

business, industry, region).

field of operations as a logistics company. Althoughthough irreverent, we believe we truly fulfilled our role

Please look forward to the Nissin Group’s future

these efforts have only just begun, we hope this will

as an essential worker in the pandemic and are com-developments, and thank you for your continued sup-lead to great growth in the future.

mitted to further evolution.

port.

The second major point is the creation of new products and businesses that lead to profitability in Phase 2.
The key here is to “strengthen digital transformation(DX)” and “develop inter-industrial fields”.

11

currently a part of trade procedures. Going forward, we

The third point is to create a system that can accurately respond to issues that come up when promoting

We have developed DX-utilized products such as

ESG management. In March 2022, we established the“HACO Lab.”, “Forward ONE”, etc. HACO Lab. realizes“Sustainability Committee” as an advisory council to12Growth Strategy

NISSIN
Sustainability
Report2022

New Medium-Term Business Plan
Seventh Medium-Term Business Plan Nissin Next 7th
We have established the Seventh Medium-Term Business Plan to appropriately respond toconstantly shifting global environments and industrial structure from the perspective of ourevolution into a new form, and the entire Group will aim to create even higher corporate value.

Basic policy

Further cultivation of corebusinesses(= revising our business portfolio)

Aim for business expansion by restructuring our sales force by industry
and establishing a system for three-dimensional business management(by business, industry, and region)

ESG management

Promote responsible corporate activities
to realize a sustainable society

Businesses in new
domains

Create new logistics-related businesses
based on unconventional ideas

As a “global logistics provider,”we will take on challenges in new
business areas, deepen core

Priority Measures
Promote business portfolio strategy

Promote ESG Management

Manage portfolio by business, industry,and region
Product development and service enhancement based on three-dimensional analysis
Engage in efficient business management
and investment through revenue analysis

Build a system to promote sustainability
Promote green management, foster
human resources, ensure diversity
Identify our materiality
Respond to TCFD recommendations(Contributing to a decarbonized andcirculating society)

Priority Measuresbusinesses,
and engage in ESG management

Period: April 2022 through March 2027 (five years)

202

Phase 2 :7

Ensure implementation of
measures and achieve further
growthNet sales¥275.0 billion

Creating businesses in new domains

Promote Digital Transformation(DX)●Expand sales activities• Digital forwarding service• Enable visualization of global logistics activities,e.g., shipment tracing, using IoT

Establish a “New Business
Development Office” to promote theresearch, discovery, andcommercialization of new businesses

Achieve operational efficiency• Build a system for sharing cargo information• Optimize on-site work through IoT

Pick Up

Pick Up

Three-dimensional business management

Digital forwarding service

Operating income ¥11.0 billion
Ordinary income¥11.5 billion
Industry

Profit attributable to owners of parent ¥8.6 billion
ROE

202

Phase 1 :Build business foundation andmanagement fundamentals suitable
for the next generation (Society 5.0)
Net sales¥190.0 billion

Operating income¥8.5 billion

Ordinary income¥9.0 billion

About 9.0%
(FY03/27 targets)

4

New coresystems

Pha

Businessse2

regionProfit attributable to owners of parent ¥6.5 billion
ROE

202

We can now obtain more detailed data owing to the launch ofa new core system. In addition to utilizing the obtained data
for three-dimensional business management by business,
industry, and region, revenue analysis will be conducted toengage in efficient business management and investment.

About 8.0％
(FY03/24 targets)

2
Pha

se1

We have established “Forward ONE,” which provides onlinebased digital forwarding services. “Forward ONE” makes theintegrated online management of estimates, orders, and work
progress possible, and aims to visualize complex international
logistics and simplify forwarding. We are planning to expand
service content accordingly.

Capital investment plan
Capital investment plan : ¥25.0 – 30.0 billion (five years)

Sixth Medium-TermBusiness Plan

13

Seventh Medium-Term Business Plan Phase1

Seventh Medium-Term Business Plan Phase2

April 2022 through March 2024(two years)

April 2024 through March 2027(three years)

Facility-related investments ¥20.0-25.5 billion

Investment in other priority areas ¥5.0 billion

Kanagawa Wharf facility: ¥5.0 billion

Promotion of IT and digitalization

Tochigi Haga Warehouse:¥5.0 billion

ESG

Other domestic and overseas facilities:

M&A strategy¥10.0–15.0 billion

Human resource development, etc.

14

NISSIN
Sustainability

Strategy by Business Segment

Report2022

Logistics BusinessJapan
Our logistics business was founded as an in-harbortransport company in Yokohama, Japan’s main gateway
to the world, and expanded to the Ports of Kobe, Osakaand Chiba. Today we provide high-quality services using
various modes of transportation such as air, sea, truck
and rail, as well as standard, temperature-controlled,
and hazardous materials warehouses located in both
port and inland areas. In addition, we have been certified as an Authorized Economic Operator (AEO), organizing a well-developed system of security andcompliance management, and strive to become a “global
logistics provider” that is trusted and highly regarded byour customers.

East Asia
Starting from when we handled exhibition transport ser-

Main initiatives
Completion of Yokohama Heavy Cargo Packing CenterAn overhead crane with a rated load capacity of up
to 80 tons was installed to enable export packing
and cargo handling of large and heavy cargo as wellas an all-weather workspace that makes cargo handling even in rainy conditions possible. The facility is
positioned as a “core base for export business inthe Keihin area,” to provide top-quality logistics services.

China and Japan in 1955, we have a long history andtrack record in East Asia and currently have offices in
China, Hong Kong, and Taiwan. In November 2005, weestablished Nissin-Sinotrans International Logistics Co.,Net sales

Operating income

FY03/2021

100.4 billion yen

2.0 billion yen

FY03/2022

114.1 billion yen(113.7% YoY)

4.1 billion yen(208.4% YoY)

Asia
Main initiatives

Net sales

pany in China. We aim to build an efficient global logislogistics network covering all across China.

11.8 billion yen

0.6 billion yen

FY03/2022

17.3 billion yen(146.7% YoY)

1.3 billion yen(192.6% YoY)

Americas
We entered the American market in 1973 ahead of ourcompetitors, and currently have offices in the UnitedStates, Canada, and Mexico. As a global logistics provider, we provide air, ocean and ground transportation,customs brokerage, warehousing, and JIT delivery services, among others. We are constantly working to create new services, such as transport to the Midwestern
United States via the port of Manzanillo in Mexico tocombat port
congestion along
the West Coastof the UnitedStates.

In response to an increase in hazardous materials
inquiries, we opened a hazardous materials warehouse at TPARK, a logistics park located in the

Operating income

FY03/2021

Main initiatives
Launched service to Midwestern United States
via the port of Manzanillo, Mexico
A service that unloads containerized cargo from Japan and Asia, etc. at the port of Manzanillo andtransfers it to trucks for cross-border transport todestinations in the Midwestern United States waslaunched, circumventing port congestion along theWest Coast of the United States and achieving
shorter lead times.
Net sales

Operating income

FY03/2021

11.8 billion yen

0.2 billion yen

FY03/2022

18.3 billion yen(153.9% YoY)

1.0 billion yen(374.2% YoY)

Opening of hazardous materials warehouse in Thailand

EuropeBang Na district of Bangkok.

We first opened a sales office
Halal certification for warehouse storage in Indonesia

in Hamburg in 1974, and cur-

We have established a storage service system that

rently have local subsidiaries,

applies not only to food products but also a wide
range of products and services that are imported
into, distributed and traded within Indonesia.

branch offices, and representative offices in the 10 count r i e s o f G e r m a n y, t h eNetherlands, Spain, the Unit-

Net sales
FY03/2021

19.6 billion yen

Operating income

ed Kingdom, France, Bel-

1.4 billion yen

gium, Poland, Austria, Russia
and Kazakhstan.

FY03/2022

15

Establishment of Nissin International Logistics (C) Co., Ltd.
Nissin Transportation & Warehousing (H.K.) Ltd., awholly owned subsidiary of the Company, establishedNissin International Logistics (C) Co., Ltd. as its subsidiary. We will strive to strengthen our sales andpurchasing capabilities by improving operational efficiency and expanding the size of the company.

Ltd. together with Sinotrans, the largest logistics comtics supply chain management system by leveraging our

Nissin has subsidiaries and representative offices in theSoutheast Asia region, including Thailand and Singapore, as well as in the India region. In response to growing intra-regional transportation, we provide not only air
and ocean transportation, but also various services suchas cross-border trucking in the Malay Peninsula and
Mekong Land Bridge services. We are also expanding
our facilities such as halal-compliant and hazardous materials warehouses. In India, we have a logistics networkthat covers the whole country that can handle domestictransport and DC operations.

Main initiatives

vices for the International Commodity Fair held in both29.4 billion yen(150.4% YoY)

2.6 billion yen(188.5% YoY)

Main initiatives
Acquired GDP certification in Germany and France
Following our subsidiary in Belgium, our Germany
and France locations also became certified with GDP(Good Distribution Practice), quality control standards
for pharmaceutical logistics, establishing a system tomeet the high needs of customers in a field wherestrict quality control is required.
Net sales

Operating income

FY03/2021

6.7 billion yen-0.2 billion yen

FY03/2022

9.5 billion yen(142.4% YoY)

0.1 billion yen(- YoY)

16

Strategy by Business Segment

NISSIN
Sustainability
Report2022

Travel Service & Real Estate BusinessTravel service business

Retail business

The travel service business is comprised of four consolidated domestic subsidiaries including Nissin Travel Ser-Net sales

Operating income

FY03/2021

4.1 billion yen-2.3 billion yen

FY03/2022

2.5 billion yen(59.6% YoY)

-1.0 billion yen(- YoY)

vice Co., Ltd. and overseas subsidiaries and affiliates,
operating corporate/retail/wholesale businesses in Japanand abroad.

Assiting in“people- and earth-friendly travels”

The retail business mainly provide various specialized
procedures related to short/long-term studies abroadand homestay programs for educational institutions nationwide as well as arranging various national and international events for sports-related associations. We are
expanding our business in a wide range of other areas,
including arranging for overseas business inspection
tours for corporate clients, various groups related to rewards, and commercial groups visiting Japan.
Wholesale business

Through business operations based on our corporate slogan, we aim to contribute to society throughsound corporate activities while giving due consideration to the global environment. We always strive tooffer the highest-quality service, providing safety, security, and inspiration to our customers, developing
our business towards sustainable growth and social development.

The business maintains a unique purchasing power in allareas of the world, and operates the distribution of international airline tickets and sale of sightseeing package products to travel agencies nationwide. In the
tourism field, the business is expanding by developing
learning and experience-based themed products andcollaborating with related subsidiaries to distribute products to all types of customers.

Corporate businessWe maintain one of the largest market shares in thehandling of business travel through transactions withcorporate clients nationwide. In order to meet the trust
by providing high-quality services, we have sales andon-site offices in Japan and overseas, centered aroundthe Communication Center located within the head
office.

Main services for corporate clients
Provision of contract-based overseas business travel arrangement services
Support for obtaining short-term work and work visas
Consultations about cost reductions, risk management, etc.
Consignment of various types of travel-related procedures

Real estate business
The Company and group companies are involved in theleasing of warehouses, commercial buildings, and landfor commercial use in the Keihin and Hanshin areas.
We also operate a parking lot business in the Yokohama urban waterfront area.

Net sales

Operating income

FY03/2021

1.2 billion yen

0.7 billion yen

FY03/2022

1.3 billion yen(106.8% YoY)

0.7 billion yen(98.5% YoY)

In order to offer support after departing from Japan we also
place staff specifically for corporate clients at our overseas
subsidiaries and affiliates, providing services such as responses to emergency situations, arranging post-assignment business trips and temporary returns to Japan, andtravel procedures related to collaborative projects with Japan.
We will always be there for our customers, focusing on
professional services by people and strengthen future investment in IT to realize a “Big Drive & Small Company
Feel.”

17

18

NISSIN
Sustainability
Report2022

ESG Initiatives

Sustainability Overview
Under the basic sustainability policy based on our corporate philosophy, Nissin has established thefour sustainability themes of “Earth, Quality, People, and Trust.” The Nissin Group will contribute tosustainable social development on a global scale through our business activities.

Materiality identification process

System to promote sustainability
Basic Sustainability Policy
In our spirit of“Improving day by day”,

The Sustainability Committee deliberates on major
issues such as identifying and reviewing materiality,
and regularly reports to and makes
recommendations for both the Executive Committee
and Board of Directors.

the Nissin Group’s aim is to

we identified four materiality related to sustainability. We will strive to realize a sustainable society and enhance ourcorporate value by resolving the identified materiality through the Group’s business activities.

Step1
Establishing a philosophical system
as a basis for materiality

Reportdevelopment of society”,

Supervision

Executive Committee
Recommendation

Consultation

Step2
Derive potential materiality

realize a prosperous society”, and“grow as a group in line with the

Establish a philosophical system that is necessary to consider materiality, such as
Purpose, basic sustainability policy, defining stakeholders, etc.

Board of Directors“contribute to the sustainable“provide high-quality services to

Based on our Group’s Purpose of “Bringing happiness to the world through logistics” and our basic sustainability policy,

Sustainability Committee

expectations of our stakeholders”

Step3
ESG office

Promotionteam E(Environment)

Promotionteam S(Social)Promotionteam G(Governance)

Narrowing down materiality
proposals

Step4
Identifying materiality

Identify initiatives for stakeholders from a risk and opportunity standpoint whilereferencing international frameworks such as SASB Standards, IIRC and GRI.
Derive potential materiality by comparing to the sustainability philosophical system.
Create materiality proposals by grouping them into the four sustainability themes ofEarth, Quality, People, and Trust.
Narrow down materiality proposals based on degree of impact on stakeholders and the Group.
A working team comprised of external experts and relevant internal departments
verifies and coordinates the operational validity of materiality proposals, including
monitoring and effectiveness.
Confirm consistency between the business and growth strategies of the Seventh
Medium-Term Business Plan and “promoting ESG management,” as well as themateriality’s positioning as an important issue in management strategy.
Formally identified as a materiality of the Nissin Group after assessment andverification by the Sustainability Committee as well as discussion and approval by the
Executive Committee and Board of Directors.

Major issues related to sustainability (Materiality)
Theme

Natural capital

Earth

Manufactured/
intellectual capital

Quality

Personnal/
intellectual capital

PeopleSocial andrelationship capital

Trust

19

(Materiality)

Key initiatives

SDGs

Realizing a decarbonized society and contribute to an
environmentally conscious, circulating society

Environmentally friendly logistics (proposing the useof returnable containers and logistics using rail andcoastal vessels)
Reduce greenhouse gas emissions
Switch to renewable energy and implement energysaving equipment

Respond to extreme weather andnatural disasters
Respond to environmental regulations
Cooperation in reforestation andconservation activities

Implementing cutting-edge technology and provide
high-quality service

Promote logistics innovation and DX using cuttingedge technology
Provide safe, attentive, high-quality service
Expand dialogue and information distribution

Build partnerships with business
partners and customers
Eliminate illegal labor in the supply
chain

Respect all people and build an environment whereindividuals can bring out their best abilities

Capacity building through human resource
development and acquisition of specialized skills
Optimal placement of human resources
Respect and promote diversity
Create a comfortable workplace for women andpromote them to management positions

Improve employee engagement
Create a safe and comfortableworking environment
Promote health management

Create a company that is fair, valuable, and hopeful to all
stakeholders

Develop a system to promote sustainability
Reinforce corporate governance and risk management
Strengthening corporate governance and risk
management
Ensure compliance

Increase stakeholder engagement
Strengthen BCP efforts
Thorough information management

20

ESG Initiatives

NISSIN
Sustainability
ReportEnvironment2022

In addition to establishing a Nissin Corporation Environment Policy torealize a decarbonized and circulating society, we are promoting efforts to
reduce our environmental impact, including reducing CO2 emissions.
Environment Basic Policy
1, We shall establish environmental goals for the conservation of the global environment and prevention ofpollution, and strive to continuously improve them through periodical reviews.
2, We shall comply with all environmental laws and regulations, accords and terms of agreements relating tobusiness activities.
3, We shall make active efforts to conserve resources and energy and reduce waste to minimize the burden on
the environment.
4, We shall work together with our clients and partner companies to take into account the prevention of global
warming and controlling of air pollutants and provide environmentally friendly logistics services from a life
cycle perspective.
5, We shall thoroughly inform all employees and affiliated parties and disclose to the general public the contentsof this Environmental Policy.

Green Management Initiatives

Environmentally friendly warehouses

Recognizing thatenvironmental
2
1
conservation is a
Improving Logistics
Modal
Shift
corporate social
Efficiency
responsibility, Nissinc a r r i e s o u t
Nissin’s Green
environmental measures
Management
independently ands y s t e m a t i c a ll y, a n d
strives to improve
3
4
management in that
Facilities andEnvironmental
regard.
Equipment
Conservation Efforts
Nissin believes it is
its social responsibility
as a logistics services provider to ensure the blessings ofthe earth are passed on to the next generation, and provide
efficient and environmentally friendly logistics services.

The Yokohama Heavy Cargo Packing Center that opened
in July 2021 is a highly efficient facility capable of packing
and handling heavy cargo with a large overhead crane andusing public wharves for cargo handling operations. It has
also achieved rank A of the Comprehensive Assessment
System for Built Environment Efficiency (CASBEE
Yokohama) as a high environmental performance building
with materials of low environmental impact, LED lighting,greenery on its premises, and an absence of waste heatemitting equipment. The Maya West Refrigerated
Warehouse and Heiwajima Refrigerated Logistics Center,
which have been certified by the Comprehensive Logistics
Efficiency Act, have implemented cloud-based truck
reservation systems, improving the efficiency of pickup anddelivery by reducing wait times as well as contributing to
the reduction of CO2 emissions. They have also introduced
equipment to reduce environmental impacts such as
eliminating CFCs by using natural refrigerant refrigeration(Heiwajima) and automated racks for improved efficiency
and energy-saving (Maya West).

Modal shift initiatives in Vietnam(NR GREENLINES LOGISTICS
CO., LTD.)NR GREENLINES LOGISTICS, which is part of the Nissin
Group, provides a North-South railway transport service.
Compared to truck transportation, this service reduces CO2
emissions by approximately 60%, and is offered to customers
as an environmentally friendly logistics service using block
trains that in consist of self-developed specialized car wagons
and general containers. Additionally, it has also acquired
ISO 14001 certification,
making environmental
conservation efforts
outside of transportationsuch as saving
electricity and separating
waste.

S classification rating for sevenconsecutive years

Installing LED lighting/solar
power generation system

The Company (non-consolidated) is designated as aSpecified Business Operator under the Act on Rationalizing
Energy Use and measures its monthly energy consumption
at each of its locations to annually report to the Ministry of
Economy, Trade and Industry. To reduce energy-derived(onsite) CO2 emissions, we have formulated a medium- tolong-term reduction plan and set a Scope 1+2 energy
consumption reduction target of “reducing five-year
average emission intensity by 1% or more per year,” andwe have acquired the S-class rating, given to companies
that achieve this target, for seven consecutive years(FY2020 emissions results).

The Company (non-consolidated) has promoted theconversion to LED lighting at all domestic locations to
reduce power consumption and CO2 emissions. As of theend of March 2022, 35 locations, or approximately 50% of
all locations, have had LED lighting installed, however weare aiming to have LED lighting installed at all locations in
the future.
We are also promoting the installation of solar power
generation systems at warehouses and other locations. In
order to achieve carbon neutrality by 2050, we will continue
to promote the installationof solar, wind, and otherrenewable energy
generation equipment thatis suited to the geographic
and weather characteristics
of each location.

Nissin CO 2 emissions, crude oil equivalent, emission intensity
Fiscal year

2017

CO2 emissions(t- CO2)
Crude oilequivalent (KL)Energy use-relatedchange in emission
intensity

14,146 15,007 13,791 12,670 13,753

2,844

2,786

2,758

Change in fiveyear average
emission intensity

YoY change (%)

96.1% 102.9% 92.4%

98%

99%

98%

7,227
2,991

2018

7,557
3,079

7,232

2020

7,005

2021

7,372

Yokohama Heavy Cargo Packing Center
indoor LEDs

* Based on figures from Nissin Corporation’s periodic report by the Act on
Rationalizing Energy Use

Green Management Certificationand environmental management
The Group conducts business activities that are consciousof the global environment in accordance with the GreenManagement Promotion Manual and has received the“Green Management Certification” by the Foundation for
Promoting Personal Mobility and Ecological Transportation
at 16 locations*. Each of the certified locations makes efforts
to conserve the environment in their daily operations suchas conserving energy and reducing waste. Two locations
have received the “Green Management Certification
Longstanding Award” which is given to business sites thathave been certified for 10 years. In addition, we have alsoacquired and maintained ISO 1 4 0 0 1 certifications both inJapan and overseas (three locations in Japan, two overseas
subsidiaries) and conduct management activities in line with
ISO 14001 to reduce ourenvironmental impact.
* Warehouse business:
six locations
Port transporter: two locations
Truck transport business:eight locations(Includes consolidated
subsidiaries)

Yokohama Heavy Cargo Packing Center

2019

Sakai Logistics Center solar panels

Supporting wind power
generation projects
As part of efforts to promote the use of renewable energy
and global warming countermeasures, the Company issupporting the Hama Wing wind power generation projects
being promoted by the city of Yokohama. As electricity
generated by wind power is a clean, naturally occurring
energy source that does not emit CO 2 and greatly
contributes to reducing
environmental impact, weare supporting this project
as one that aims to promoteand expand the use ofrenewable energy.
In July 2022, a parentchild wind power generation
research tour was held,
where we made contributions
to environmental educationby providing wind power
generation kits toparticipating elementaryand junior high school
students.
Yokohama Wind PowerMaya West Refrigerated Warehouse

21

Heiwajima Refrigerated Logistics Center

22

ESG Initiatives

NISSIN
Sustainability

Society

Report2022

We have established a system that enables us to provide high-quality
services by creating a comfortable working environment to develop humanresources for a wide range of fields and to respect diversity.
Human resource development
In order to nurture human resources responsible for the future of the Company, we offer a wide range ofeducational programs for all levels designed to foster an international mindset from early on and enable each
employee to grow and thrive.
Category

Details

Entry level

Level-specifictraining

We provide training for new employees, leadership training, training for managers,
and other level-specific training related to skill acquisition and role awareness.

Entry-level training

LeaderMid-level

Training for promoted employees

Basic knowledge training course(e.g., laws and contracts)Basicknowledge
and skills

Employees undergo training to gain knowledge needed to perform theirduties, such as relevant laws and internal rules. Particularly importantmatters are also covered in e-learning courses.

Management

Anti-harassment training

Practical training(introduces workplace/occupation)
Various e-learning courses (internal)
Customs-related training courses, etc.
International Air Cargo Agents Training Programme

Appliedknowledge
and skills

Employees participate in external training courses to gain knowledge,
certifications and skills that are related to their daily operations.

Diversity

Nissin provides training both on an individual and organizational basis on
improving workplace productivity.

Logical thinking

Employees undergo training to improve basic skills in logical thinking.

Basic IT skills

Employees gain basic computer skills(e.g., Excel, Word, PowerPoint).

International Multimodal Transport
Specialists Course
Training programs offered by various industry association and external training courses

Finance

Entry-level employees undergo training on the basics such as the role of theaccounting department and understanding financial statements, and those inmanagerial positions undergo more advanced training.

Development of
global talent

In order to develop talent that can succeed worldwide in the future,
Nissin offers online language courses and TOEIC testing in Japan, andalso provides practical training at its subsidiaries outside Japan.

Passing down
know-how
Personal
development

Nissin provides training to quickly turn new employees into a skilledworkforce and give management skills to mid-level employees.

Women’s career development
support training course
Basic logical thinking training
course (writing skills)

Management training course on
developing female junior staffs

Advanced logical thinking training course(communication)

Various e-learning courses
Practical training

IT systems training course
Finance training course (financial analysis)

Basic knowledge training course(accounting)
TOEIC testing and language courses
Pre overseas assignment training (general/executive levels)
Overseas trainee
systemReport conference by overseas trainees returned to Japan

Nissin also provides training courses not directly related to job duties(e.g. giving presentations)

Training for OJT leaders
Various e-learning courses

Promoting women’s empowerment

Balancing childcare and work

We have put forth many initiatives to establish a work
environment where women can comfortably and actively
work.
Expanding maternity/childcare leave
Conducting women’s career development training andmanagement training course on developing female juniorstaff members
Increasing number of female expatriate employees
Improving percentage of female managers (Target of 10%
by 2025)
As an excellent company in taking the above and otherinitiatives based on the Act on the Promotion of Women’s
Active Engagement in Professional Life, we received thehighest rank (three stars) of the“Eruboshi” certification in January2022.
In June 2021 we appointed our firstfemale director (outside) to the Boardof Directors and will continue our efforts
to create a workplace environment that
respects diversity.

We have several initiatives to make balancing childcare andwork possible.
Childcare leave available until the child reaches one yearof age (maximum age is the end of the month in which
the child reaches two years old)
Reduced working hours, staggered working hours,
flextime, etc. for childcare purposes
Expanding re-employment system for employees who
resigned due to childcare or other unavoidable reasons
Initiatives for male employees to take childcare leave (2025goal of at least three male employees taking childcare leave)
As an excellent company in taking the above and otherinitiatives based on the Act on Advancement of Measures
to Support Raising Next-Generation
Children, we acquired the “Kurumin”
certification in February 2022.
We will continue to provide support
to balance childcare and work with theaim of creating a work environment inwhich a diverse workforce can thrive.

Reference (in Japanese)
https://ryouritsu.mhlw.go.jp/hiroba/planfile/202202211313175651825_1.pdf

23

On-the-job (OJT)
training

Hiring seniors and people
with disabilities
We have introduced a contract re-employment system toeffectively utilize the specialized knowledge, abilities andknow-how of retirees, and are striving to improve
productivity. In addition, we are also hiring people withdisabilities and have a diverse range of human resources
currently working in various fields.
In order to meet the legally mandated employment ratioof people with disabilities of at least 2.3% (Reference:
2.05% for FY2021), we will continue to proactively realize
diversity through strengthening our recruitment efforts, suchas implementing internship programs at schools for special
needs education, and creating a comfortable work
environment.

Disclosure of statement on the
UK Modern Slavery Act
Every year, the Nissin Group publishes a statement about
the United Kingdom’s Modern Slavery Act 2015. We stipulate
the elimination of slave labor, child labor, human trafficking
and other forms of illegal labor within our supply chain in
our Charter of Corporate Behavior and share it throughout
the Group and request business partners, suppliers andother related parties to take appropriate actions. We haveestablished a whistleblowing hotline where employees canreport or receive advice in the event that they discover acompliance violation or possible violations such as
discrimination in business activities or harassment as partof a whistleblowing system, aiming to raise awareness ofhuman rights through early detection, resolution, andcorrection of issues.

Transporting coronavirus test kits
In response to a sharp rise in demand for coronavirus test
kits in Europe, the Group has shipped medical supplies andcoronavirus test kits every month since March 2021, mainly
from China to Europe by chartered dedicated aircraft, withthe supplies immediately delivered to medical facilities inGermany and other European countries upon arrival. We
have developed logistics services utilizing our overseas
network in 24 countries and regions in order to be able torespond to such urgent societal needs.

Certificate of appreciation for the50th anniversary of Police
Fellowship Association
We have supported the Kanagawa Prefectural Police’s local
crime prevention activities as a member of the Kanagawa
Prefectural Police Fellowship Association since its
foundation in 1972. In May 2022, on the occasion of the50th anniversary of the Fellowship Association, we wereawarded a certificate of appreciation for our many years ofcontributions.
We will continue to take an active part in crime prevention
campaigns promoted by the police and government
agencies such as traffic safety and prevention of banktransfer scams to contribute to the safety and security of
the local community.

Acquiring halal certification
NISSIN TRANSPORT (S) PTE. LTD., the Group’s local
subsidiary in Singapore, and PT. NISSIN JAYA INDONESIA,
a local subsidiary in Indonesia, have acquired halal
certification related to warehouse storage operations. We
are establishing a system to provide high-quality and safe
storage services in countries with diverse religious andcultural backgrounds including strict quality and sanitation
management in accordance with Islamic law.

Acquiring GDP certification
NISSIN TRANSPORT GmbH, NISSIN FRANCE S.A.S., andNISSIN BELGIUM N.V., the Group’s respective local
subsidiaries in Germany, France and Belgium, have beencertified with GDP (Good Distribution Practice) quality
standards for pharmaceutical logistics. W ith thiscertification, we provide transportation services that meethigh quality standards in the field of pharmaceuticallogistics.

Certificate of appreciation by the Kanagawa Prefectural Police

Cosponsoring Oshigoto Nenkan 2022,
a Career Education Book for Children
Oshigoto Nenkan (“The Job Almanac”), which has been
published annually since 2016, is given to elementary andjunior high school students in Japan and to Japanese
schools for citizens who live abroad, with a circulation of
about 5,000 copies. The book is
written in a question-and-answer
format, in which companies givethorough answers to children’s
honest questions about eachjob. As one of the “jobs that
support the foundations ofsociety,” we introduced thework at container terminals in asection titled “What’s the thingthat looks like a giraffe at a
port?”

24

ESG Initiatives

NISSIN
Sustainability

Governance

Report2022

In order to build a relationship of trust with all stakeholders, we work toenhance a fair governance system.

Corporate Governance1.Nissin’s Basic Approach to Corporate GovernanceNissin strives to implement a thorough corporate governancesystem building on improving business transparency andefficiency in order to contribute to society and meet the
expectations of stakeholders by enhancing corporate value.

Furthermore, to ensure that corporate governance functions
effectively, Nissin has also established the Nissin Charter ofCorporate Behavior, which sets out specific guidelines forcomplying with the laws of Japan and other countries andacting in accordance with corporate ethics, and carries out
compliance activities stated in the charter.

Governance Structure(As of October 1, 2022)
General Meeting of Shareholders

Appointment/
removalReportReportCooperation

Accounting
auditorAccounting/internal
controls audits

Appointment/
removalAppointment/removal

ReportProposal/report

Board of Directors

Audit & Supervisory Committee

10 directors (including 4 outside
directors and Audit & Supervisory
Committee Members)

Audit/
3 members who aresupervision
Selection/
directors (all 3 members are
dismissal/supervision
outside directors)
ReportCooperation

Nominating and Compensation Committee
Consultation
Seven directors
Recommendation (including 4 outside directors that include committee chair)(including Audit & Supervisory Committee Members)
Deliberation/
partial delegation
ReportSubmission/
report of important items

Executive Committee

9 executive officers with special titles

President

ReportDirectors/
executive officers

Central Safety and Health Committee

Sustainability Committee

ISO (quality)/(environment)

Risk Management Committee

Audit
Department

Instruction

Compliance Committee

Instruction/
approval of proposals, etc.

Consultation

Recommendation

Internal Controls Evaluation Committee

Proposal/report, etc.

Audit

Legal counsel

Audit

AdviceInspection
Instruction ofcorrection

Internal controls management department
Accounting/finance department
Legal/compliance department
Safety/environmental management department
Subsidiaries and affiliates management department

Application/report

In order to assess the effectiveness of the Board of
Directors, we conduct self-evaluations through an annual
survey for directors regarding the role, functions, andoperation methods of the Board of Directors. Based on the
results, the Board of Directors discusses issues and how to
respond to them in order to ensure its effectiveness andmake further improvements.

3. Establishment of Nominating and Compensation
Committee
A Nominating and Compensation Committee comprised offour outside directors and three internal directors wasestablished as an advisory body of the Board of Directors.
This committee deliberates on the appointment anddismissal of directors (excluding Audit & Supervisory
Committee Members; hereinafter the same shall apply), thepromotion and demotion of executive officers,
independence standards for outside directors andremuneration for directors, then reports to the Board of
Directors. We are strengthening our corporate governancesystem by increasing the transparency and objectivity ofthe decision-making process related to the nomination andremuneration of directors.

4. Establishment of Sustainability Committee

Business departments
Sales department
Operational department
Administration
department

2. Assessing effectiveness of Board of Directors

We have established the Sustainability Committee, chairedby the President, for the realization of a sustainable society
and enhancing corporate value. It held its first meeting inAugust 2022 to deliberate the Group’s materiality (important
issues), which were resolved by the Board of Directors inthe same month. Going forward, we will continue tomanage the progress of measures to resolve issues andpromote effective sustainability activities by passing
resolutions on important matters by the Board of Directors.

Instruction/contact

Subsidiaries and affiliates

Executives (As of October 1, 2022)

Compliance1. Compliance education and training

Top row, left to right: 10. Junko Kogayu 8. Tsuyoshi Fujine 6. Tetsuo Sakurai 7. Susumu Fujimoto 9. Fumihiko Masuda
Bottom row, left to right: 5. Satoshi Kuwahara 3. Masataka Tsutsui 1. Masahiro Tsutsui 2. Junichiro Watanabe 4. Seiji Torio
Specialization and knowledge, experience
Name

Position

Corporate
Attributes management

1 Masahiro Tsutsui

President and Representative Director
President and Exective Officer—

2 Junichiro Watanabe

Representative Director andSenior Managing Executve Officer—

3 Masataka Tsutsui

Director and Senior Managing Executive Officer—

4 Seiji Torio

Director and Managing Executive Officer—

5 Satoshi Kuwahara

Director and Managing Executive Officer—

6 Tetsuo Sakurai

Director and Managing Executive Officer—

7 Susumu Fujimoto

Director

Outside, independent

8 Tsuyoshi Fujine

Director (Audit & Supervisory Committee Member) Outside, independent

9 Fumihiko Masuda Director (Audit & Supervisory Committee Member) Outside, independent
10 Junko Kogayu

25

Director (Audit & Supervisory Committee Member) Outside, independent

Sales andsales
planning

Finance andaccounting

affairs,
Administration Personnel
affairs
Globaland human Legal
research laborresource
andoperations andinstitutecompliancedevelopment

Information
technology(IT)

To ensure compliance with laws and regulations andimprove corporate ethics, we have established the Nissin
Charter of Corporate Behavior, a set of corporate behavior
guidelines, as well as a Compliance Manual, and conduct
compliance training, such as e-leaning programs, to raise
employee awareness of legal compliance. In addition, we
publish the “Legal & Compliance Department Newsletter”
internally, the first issue of which provided information on
the Act against Delay in Payment of Subcontract Proceeds,
etc. to Subcontractors, ensuring thorough complianceeducation.

such as business-related misconduct and harassment. In
addition to a helpdesk that acts as a whistleblowing hotline
for reporting or receiving advice, we have established an
external reporting desk (an advisory legal firm) for further
enhancement of our compliance system.

Risk Management
1. Risk Management Committee
The Group has established risk management regulations to
identify and manage all risks that could cause physical or
economic losses. We have also established the Risk
Management Committee, chaired by an executive officer
with a special title, to recognize and identify significant
risks, evaluate and deliberate on loss prevention measuresand conduct regular monitoring to strengthen risk
management.

2. Internal control
The Nissin Group has formulated a basic policy on
establishing internal control systems to ensure employees
and directors perform their duties properly and appropriate
business operations. An Internal Control Evaluation
Committee was established to regularly evaluate the status
of internal controls in order to build an effective internal
control system.

3. BCP
In order to strengthen our resilience, we have formulated abusiness continuity plan (BCP) for emergency situations
such as disasters and infectious diseases. Placing thehighest priority on human life and safety, we will strive toensure business continuity and fulfill our social responsibility
as a logistics provider through initial responses toemergencies and early restoration of operations, as well as
disaster prevention and mitigation efforts such as disastercountermeasures and drills.
In March 2021, we were certified by Development Banko f J a p a n I n c . ’s D B J B C M ( B u s i n e s s C o n t i n u i t yManagement) Rating to be a company with “sufficient
initiatives for disaster measures and BCP.” The DBJ BCM
Rating evaluates and selects companies with outstanding
disaster prevention and business continuity initiatives.

2. Whistleblowing system
The Group has established whistleblowing handling rules
for the early detection and correction of violations andpotential violations of laws, regulations and internal rules

In March 2021, we received a DBJ BCM Rated
Loan from Development Bank of Japan and wererated to have “sufficient initiatives for business
continuity.”

26

NISSIN

Data Section

Sustainability
Report2022

Financial Information
Consolidated Balance Sheet (millions of yen)

FY2020Consolidated Statement of Income (millions of yen)

FY2021

Liabilities

AssetsCash and cash equivalents

18,815

19,834

Notes and accounts payable-trade

12,501

14,973

Notes and accounts receivable-trade29,83735,021

Bonds payable due within one year

1,000

1,000

106

138

Short-term loans payable

7,571

7,398

Others

4,885

7,307

Lease obligations

2,377

2,208

Allowance for doubtful accounts

(137)

(91)

Income taxes payable

1,496

2,069

Accrued bonuses

2,076

2,578

15

68

Others

6,785

8,518

Total current liabilities

33,82438,815

Raw materials and supplies

Total current assets

53,506

62,209Accrued directors’ bonuses

Noncurrent assets
Property, plant, and equipment
Buildings and structures

67,004

72,378

Accumulated depreciation(43,338)(46,049)

Buildings and structures, net

23,66626,329Machinery, equipment, and vehicles

15,09815,130

Accumulated depreciation(11,158)(11,150)

Machinery, equipment and vehicles, net

3,939

3,979

Bonds payable

1,000

−

Long-term loans payable

21,825

21,592

Lease obligations

3,107

3,201

115

58

1,380

1,769

Long-term accounts payable
Deferred tax liabilities

24,721

25,569Other noncurrent assets

5,763

3,598

Accumulated depreciation(2,760)(2,860)

Other, net

3,003

737

55,331

56,616

Leasehold rights

504

500

Others

934

795

1,438

1,296

16,662

18,088Long-term loans receivable

367

394

Net defined benefit assets

1,525

1,563

Valuation difference on available-for-sale securities

5,081

5,673

413

462

Foreign currency translation adjustment

(173)

1,496

Others

3,838

4,407

Remeasurements of defined benefit plans

(108)

576

Allowance for doubtful accounts

(109)

(140)

Accumulated other comprehensive income

4,799

7,746

Total investments and other assets

22,697

24,776

Non-controlling interests

2,518

2,812

79,467

82,688

Total net assets

65,84874,406

132,973

144,898

132,973

144,898

Intangible assets

Total intangible assets

Deferred tax assets

Total noncurrent assets
Total assets

Net defined benefit liabilities

4,316

3,252

Others

1,555

1,801

Total noncurrent liabilities

33,301

31,676

67,12570,491

Total liabilities
Net assets
Shareholders’ equity

Investments and other assets
Investment securities

FY2021

Net sales

155,915

192,699

Cost of sales

140,974

170,590

Gross profit

14,941

22,108Selling, general and administrative
expenses

12,33013,009Operating income

2,611

9,098

Non-operating income

2,283

1,672

Non-operating expenses

607

911

4,287

9,859

Extraordinary income

652

593

Extraordinary loss

652

1,072

Income before income taxes

4,287

9,380

Income taxes-current

1,858

3,011

Income taxes-deferred

337

(197)

Total taxes

2,196

2,813

Net income

2,091

6,567

Profit attributable to non-controllinginterests

84

201

Profit attributable to owners of parent

2,007

6,365

Ordinary income

Noncurrent liabilities

Land

Total Property, plant, and equipment

FY2020Current liabilities

Current assets

27

FY2020

FY2021

Capital stock

6,097

6,097

Capital surplus

4,736

4,707

Retained earnings

49,20854,328Treasury stock(1,512)(1,284)

Total shareholders’ equity

58,52963,848Other comprehensive income

Total liabilities and net assets

Consolidated Statements of Cash Flows (millions of yen)

FY2020

FY2021

Cash flows from operating activities

4,955

9,540

Cash flows from investing activities(8,938)(3,586)

Cash flows from financing activities

1,973(5,438)

Effect of exchange rate change on
cash and cash equivalents

484

703

Net increase (decrease) in cash andcash equivalents(1,524)

1,219

Cash and cash equivalents at
beginning of year

18,474

16,949Cash and cash equivalents at end ofyear

16,94918,168

Consolidated Statement of Comprehensive Income (millions of yen)

FY2020

FY2021

Net income

2,091

6,567

Other comprehensive income

4,896

3,052

Comprehensive income

6,987

9,619

28

Data Section

NISSIN
Sustainability
Report2022

Company Data&Stock Information
Company Data (as of March 31, 2022)

Stock Information (as of March 31, 2022)

Distribution of shareholders (as of March 31, 2022)

Name:

NISSIN CORPORATION

Total number of authorized shares: 40,000,000 shares

Treasury stock

Financial institutions

Established:

December 14, 1938

Total number of issued shares:

20,272,796 shares

2.2%

44.83%

Total number of shareholders:

4,665

Individuals, etc.

Yokohama Head Office: 6-81 Onoe-Cho, Naka-Ku,
Yokohama
Tokyo Head Office:21.58%

6-4, Kojimachi 1-chome,
Chiyoda-ku, Tokyo

Representative:

Masahiro Tsutsui, President

Capital:6,097 million yen

Overseas
corporations, etc.

20,272,796 shares

12.32%

Number of employees: 1,685 (non-consolidated)
URL:

Total

Domestic corporations

Securities companies

18.22%

0.85%

https://www.nissin-tw.com/
english/Main shareholders (as of March 31, 2022)
Name

The Master Trust Bank of Japan, Ltd.
(trust account)

No. of shares held
Ownership of(thousandshares) Voting Shares (%)

2,065

10.41

Custody Bank of Japan, Ltd.

986

4.97

The Bank of Mitsubishi UFJ, Ltd.

986

4.97

The Bank of Yokohama, Ltd.

978

4.93

Nissin Shoji Co., Ltd.

890

4.48

Nippon Life Insurance Company

735

3.70

Nissin Employee Stock Ownership Association

703

3.54

Sumitomo Mitsui Banking Corporation

649

3.27

Nissin Kyoeikai

531

2.68

INTERACTIVE BROKERS LLC

445

2.24

(Note) Percentage of shares held is calculated by the total number of shares excluding
treasury stock.

Group companies (as of March 31, 2022)
Japan
Hokkaido region

Kansai region

Hokkaido
HOKKAIDO NISSIN CORPORATIONHOKUSHIN KOUN CORPORATIONOsaka
NISSIN AIRPORT SERVICE CO., LTD.
TSURUMARU UNYU CO., LTD.
MARUSHIN KOUN CO., LTD.
MATSUBISHI UNYU CO., LTD.
SHIGA NISSIN CORPORATIONHyogo
NICHIEI UNYU CO., LTD.
SHINKO KONPO CO., LTD.

Kanto region
Ibaraki
IBARAKI NISSIN CORPORATION
Chiba
NISSEI KOUUN CORPORATIONTokyoNISSIN TRAVEL SERVICE CO., LTD.
NISSIN SHOJI CO., LTD.
ITABASHI TRANSPORTATION CO., LTD.
NISSIN AIR CARGO CO., LTD.
TAIYO MARINE CO., LTD.
SHOWA NITTAN CORPORATION.
KINKAI TANKER CO., LTD.
Kanagawa
TSURUMI WAREHOUSE CO., LTD.
KEIHIN REAL ESTATE CO., LTD.
NDT CO., LTD
YOKOKAI RIKUUN CO., LTD.
NISSIN PACKAGING CO., LTD.
NISSIN INDUSTRY CORPORATION
MARUSHIN CO., LTD.
NISSIN KOUSAN CORPORATIONSHINEI UNYU CO., LTD.
KOEI UNYU CO., LTD.
HARADA KOWAN CO., LTD.
SHINKO LUMBER CO., LTD.
Chubu region
Aichi
AICHI NISSIN CO., LTD.

29

Kyusyu region
Fukuoka
KYUSYU NISSIN CORPORATION

Overseas
Americas
United States
NISSIN INTERNATIONAL TRANSPORT U.S.A., INC.
CanadaNISSIN TRANSPORT (CANADA) INC.
MexicoNISTRANS INTERNACIONAL DE MEXICO,S.DE R.L.DE C.V.
EuropeGermany
NISSIN TRANSPORT GMBH
Netherlands
NISSIN TRANSPORT GMBH TILBURG BRANCH
Spain
NISSIN TRANSPORT GMBH SPAIN BRANCH
United Kingdom
NISSIN (U.K.) LTD.

FranceNISSIN FRANCE S.A.S.
Belgium
NISSIN BELGIUM N.V.
PolandNISSIN LOGISTICS POLAND SP. Z O.O.
Austria
NISSIN TRANSPORT GES. MBH
RussiaLIMITED LIABILITY COMPANY "NISSIN RUS"
MOSCOW REP. OFFICE
Kazakhstan
ALMATY REP. OFFICE
Asia
Singapore
NISSIN TRANSPORT (S) PTE. LTD.
Thailand
SIAM NISTRANS CO., LTD.
BEST COLD CHAIN CO., LTD.
SIAM NISSIN & SEO LOGISTICS CO., LTD.
Malaysia
NISTRANS (M) SDN. BHD.
NISSIN INTERNATIONAL LOGISTICS (M) SDN. BHD.
Philippines
NISSIN TRANSPORT PHILIPPINES CORPORATIONANCHOR LOGISTICS FACILITIES CORPORATION.
India
NISSIN ABC LOGISTICS PRIVATE LIMITED
Indonesia
PT.NISSIN JAYA INDONESIA
PT.NISSIN TRANSPORT INDONESIA
VietnamNISSIN LOGISTICS (VN) CO., LTD.
NR GREENLINES LOGISTICS CO., LTD.

Laos
LAO NISSIN SMT CO., LTD.
Myanmar
YANGON REP. OFFICE
East Asia
China
NISSIN-SINOTRANS INTERNATIONAL LOGISTICS CO., LTD.
SHANGHAI GAOSIN INTERNATIONAL LOGISTICS CO., LTD.
NISSIN INTERNATIONAL LOGISTICS(C)CO., LTD.
NISSIN (CHANGSHU) INTERNATIONAL LOGISTICS CO., LTD.
NISSIN LOGISTICS SHENZHEN CO., LTD.
BEIJING OFFICESHANGHAI OFFICE
Hong Kong
NISSIN TRANSPORTATION & WAREHOUSING (H.K.) LTD.
TaiwanNISSIN GLOBAL LOGISTICS(TAIWAN) CO., LTD.

30