Since our founding in 1962, JSP has been active in a wide range of ﬁelds around the world as a specialized manufacturer of foamed products.
JSP contributes to the prosperous lives of people around the world and the industrial advancements by developing productsthat maximize the possibilities of foaming technologies in various ﬁelds.

Corporate Philosophy

Creatively and Actively
Contribute to Society

Corporate Philosophy

As a manufacturer of foamed products, JSP contributes to society by
developing original products using our innovative original technologies.

Long-term Vision “VISION 2027”

Foamed plastic is a plastic resin that has been stabilised by creating
air bubbles and can create many characteristics such as lightweight,

Aiming to be “A Global Company
for Global Society”

cushioning and insulation.
We contribute to sustainability by making lighter, stronger, and moreenvironmentally friendly products.

Management Policy

Management Policy

Medium-term Business Plan (FY2021‒2023)

Change for Growth

As a global supplier, we will inspire our customers and consumers and deliver
satisfaction to shareholders and the community. As employers, we aim to be
a company that is needed by society by working with a sense of excitement.

JSP Corporate Report 2023

01

Contents
Our Value Creation Process
History

03

At a Glance04

Our Value Creation Process

05

Based on our corporate philosophy of Creatively and Actively

Message from the President

06

Contributing to Society , the JSP Group develops business with the

About this publication

aim of realizing our long-term vision. We have clearly deﬁned sustain-

Value Creation Strategy

ability management in the basic concepts of the 2021‒2023 medi-Medium-term Business Plan (FY2021‒2023)

10

um-term business plan, Change for Growth currently underway.

Financial and Non-ﬁnancial Highlights

11This report contains information related to sustainability manage-

Overview by Segment
・Extrusion Business

13

・Bead Business

15

RC Activities

ment and materiality, which is also available on our website.
（https://www.co-jsp.co.jp/english/sustainability/）

17

Reporting period

Sustainability
Sustainability Management

19

Materiality

20

Response to Risks and Opportunities

21

Environmental Activities

22

Social Activities

27

Corporate Governance

31

List of Corporate Oﬃcers

35

Data Section

April 1, 2022, to March 31, 2023 (Some sections refer to activities
occurring on or after April 1, 2023)

Forward-looking statements
This publication contains forward-looking statements regarding
management plans, strategies, and performance. These statements
are based on Company determinations in light of information available
as of March 31, 2023. Accordingly, information contained herein is

Stock and Company Information

37

Global Network

38

JSP Corporate Report 2023

subject to risks and uncertainties, and actual results may diﬀermaterially from those discussed in forward-looking statements.

02

History
Since our establishment in 1962 as Japan
Styrene Paper, JSP has developed ourbusiness globally by useing ourworld-leading development andtechnological capabilities. Furthermore,
we are utilizing the characteristics offoamed plastics to contribute to the
reduction of environmental burden andCO2 emissions.
The world is a place with full of diverse
values which continue to change
depending on the place and time.
The JSP Group will continue to embracechallenges to meet the changing
demands of our customers and society,and to share our values.

(Millions ofyen)

Changes in Net Sales and Operating Proﬁt

140,000(Millions ofOperating proﬁt (right axis) yen)
14,000120,000

12,000100,000

10,00080,0008,000

60,0006,000

40,0004,000

20,000

2,000

0

March
2003

Founding Period (1962 to 1984)

We started production ofpolystyrene paper andestablished our company as amanufacturer specializing in the
foaming business. Afterwards, wedeveloped the world s ﬁrst
foamed polyethylene sheet(MIRAMAT) and foamed
polypropylene beads(ARPRO/P-BLOCK).
We launched MIRABOARD and
MIRAFOAM on the market,
thereby creating the current
lineup of our main products.

Net sales (left axis)

March
2005

March
2007

March
2009

March
2011

March
2013

Growth Period (1985 to 2003)

1962
Est. Japan Styrene Paper.
Osaka Sales Oﬃce opened.
Operation of Hiratsuka Plant started.

1988
Received the Science and Technology
Director-General's Award for
ARPRO/P-BLOCK.

1970
Nagoya Sales Oﬃce opened.

1989
Changed the company name to JSP
Corporation.

1971
Operation of Kanuma No. 1 Plant
started.
Fukuoka Sales Oﬃce opened.
1972
Sales Oﬃces in Sapporo, Sendai andHiroshima opened.
1973
Est. Shingu Styrene Paper Co., Ltd.
1977
Est. Kyushu Styrene Paper Co., Ltd.
1979
Est. Hokkaido Styrene Paper Co., Ltd.
1980
Operation of Kanuma No. 2 Plant
started.

March
2015

We made our ﬁrst overseas
expansion in the United Stateswith foamed beads(ARPRO/P-BLOCK). With that asa foothold, we expanded into
European and Asian countries.
We were listed on the Second
Section of the Tokyo Stock
Exchange and entered into a
growth period by gradually
expanding the size of ourbusiness.
In 2003, we merged with
Mitsubishi Chemical Foam
Plastic Co., Ltd. and added an
expandable polystyrene (EPS)
business to solidify our technicaland management base as a
specialist in foamed products.

JSP Corporate Report 2023

1990
Listed on the Second Section of theTokyo Stock Exchange.
Opened Kanuma Research Center.
1991
Operation of Yokkaichi Plant started.
1994
Acquired Kanuma No.3 Plant.
1999
Operation of Kanuma No. 4 Plant
started.
2001
Introduced Inner Company System.
2003
JSP Corporation and Mitsubishi
Chemical Foam Plastic Co., Ltd. merged
to form a new JSP

March
2017

March
2019

March
2021

0

March
2023

Expansion Period (from 2004)
2005
Listed on the First Section of the Tokyo
Stock Exchange.
2008
Operation of Recycling Center atKanuma started.
We were listed on the First Sectionof the Tokyo Stock Exchange andour net sales exceeded ¥100
billion. The adoption of
ARPRO/P-BLOCK as automotive
parts has expanded signiﬁcantly
and we have enhanced ourfacilities around the world. We
also expanded into Brazil andstrengthened our network to
supply a wide range of products
throughout the world.
We also increased ourcompetitiveness by actively
promoting the renewal of
production facilities in Japan. In
response to the global trend ofprotecting the global environment,
we are investing in theestablishment of a recycling centerand the development of productsthat can reduce environmental
impact.

03 Our Value Creation Process

2012
Celebrated the 50th anniversary of our
founding.
2014
Operation of Kitakyushu Plant started.
2015
Capital and business alliance with
Mitsubishi Gas Chemical Company to bea consolidated subsidiary.
2019
Operation of new factory at Kansai Plant
started.
2022
Listed on the Prime Market of theTokyo Stock Exchange.

At a Glance JSP's Strength We aim to be A Global Company for Global Society .
JSP's Strength

Value Provided by JSP in Each Field

1. Wide Range of Markets

3. Global Operational Presence

JSP oﬀers a wide range of production for
application such as food packaging, precisionequipment packaging, housing, construction, civilengineering, automobiles and logistics. By
developing technologies that meet the needs ofcustomers in each ﬁeld and having a wide range ofmarkets, we are enhancing the possibilities of foam
products.

JSP has been operating globally since the 1980s,
starting in the U.S. Today, JSP has manufacturing
facilities in Japan, the United States, Mexico, Brazil,
France, Czech Republic, Singapore, Thailand, China,
Korea, and Taiwan. We have also established an
Innovation Centre in Germany, as well as
development bases in Japan, the U.S. and Asia. By
understanding the needs of local customers andcollaborating and sharing information among thesesites we are working to speed up development
and anticipate market needs.

Automotive ﬁeld

Lightweight and highly shock-absorbing polypropylene foam
products are used in automobile
parts to provide a variety offunctions such as improved collisionsafety performance, reduced
vehicle weight, and improved fueleﬃciency.

Food packaging ﬁeld
Foamed polystyrene sheets arewidely used in food packaging topreserve the freshness of ﬁsh
and meat. These products
provide both functionality andconvenience to meet the needs
for food safety and security.

JSP International s.r.o. (Czech Republic)

2. Development capabilities
specialized in foaming technology

4. The Added Value ofTechnical Support

As a specialized manufacturer of foam products, we
aim to be a company that can contribute to theaﬄuent daily lives of people around the world throughcutting-edge foam technology. Many of our products
were developed by JSP for the ﬁrst time in the world.
Our mainstay products (foamed polypropylene) havea global market exceeding 50%. By further advancing
our foaming technology, JSP will continue to provide
resource-saving and highly functional products,
creating not only economic value but also social value.

Foam products sold by JSP become products
through the molding process by the customers. JSP
provides technical support to molding
manufacturers and depending on the product,
technical cooperation and proactive proposals
such as structural analysis. JSP provides added
value to customers through technical support, suchas improved productivity and energy savings.

Foamed polyethylene
sheets possess excellent
shock-absorbing,moisture-proof, andwaterproof properties.
This makes the sheets
ideal for items that requirelong-term transportationand storage, and the
sheets used as packaging
materials in logistics.

Industrial ﬁeld

Building and home ﬁeld
Foamed polystyrene products
are used in various buildingssuch as detached houses,
condominiums, and oﬃce
buildings, helping to create acomfortable environment.

Civil engineering ﬁeld

Net sales and operating proﬁt (FY2022)
Net sales composition ratio by segment

Operating proﬁt composition ratio by segment
Extrusion business

Extrusion business
32.2%
Consolidated
net sales¥131,714
million

ARPRO/P-BLOCK non-crosslinked polypropylene foam

JSP Corporate Report 2023

Foamed polystyrene islightweight and has
excellent water resistanceand workability. This
reduces the burden ofwork and enables eﬃcientconstruction. JSP
contributes to theconstruction of safer social
infrastructure, such as road
construction andstabilization of soft ground.

Bead business
62.8%
Other
5.0%

04 Our Value Creation Process

44.5%
Consolidated
operating proﬁt¥2,956
millionBead business

51.3%
Other
4.2%

Our Value Creation Process

VISION 2027

JSP s mission is to use its business to contribute to society by providing value in the form of preserving resources and energy, and increasing convenience in social activities. Management aims to fulﬁllthat mission by becoming a true global company providing value that contributes to society.

Providing excitement andsatisfaction to all stakeholders

Aiming to be A Global Company
for Global Society

Creation of corporate value x Creation of social value
Sustained Growth of JSP

Sources of ValueBusiness Model

OutputBusiness domains

Human capital

Extrusion
Business

As a specialized manufacturerof foamed products, we aim to
be a company that contributes
to the enrichment of the daily
lives of people around theworld through cutting-edge
foaming technology.

BeadBusiness

Outcomes

Consolidated results
●
●
●

P.11

Enhanced food safety

Net sales
Operating proﬁt
Proﬁt attributable toowners of parent

Shareholder returns

Social capital

Sustainability Management●

Stable dividend policy

Medium-term Business Plan (FY2021‒2023)「Change for Growth」

Labor safety

Strengthen management base
P.10

Financial capital

Materiality

Advanced technologicalinnovation
Reduction ofenvironmental burden
Contribution toindustrial vitality

Contribution toachievement of SDGs

P.18

●

Safety activities●

Security and disasterprevention activities

Recognition of long-term social issues

Contribution to comfortableliving environments

Priority goals formateriality

P.20

Environmental

Intellectual capital

Basic Sustainability Policy

Corporate Governanceprotection

P.31-34

P.19●

Manufacturing capital

Corporate Creatively and Actively Management
Philosophy: Contribute to Society
policyP.1

JSP Corporate Report 2023

05 Our Value Creation Process●●

P.22-26

Initiatives for global
environmental issues
Seeking carbon neutral
Promotion of waste
plastic recycling

P.20

Message from the President

We aim to become A Global
Company for Global Society .

Tomohiko Okubo

President & Representative Director

Long-term Vision, VISION 2027
A Global Company for Global Society

Toward realization of our long-term vision
Our corporate philosophy is Creatively and Actively Contribute toSociety, and our mission is to create value that is beneﬁcial tosociety. At JSP, diverse human resources are working to identify
value that we can provide to our customers and society through our
original ideas and technologies. Our management fulﬁlls a role inﬁnding that balance and guiding our company toward our goals.
As stated in VISION 2027 , our vision is to be A Global
Company for Global Society . While spreading the value we create
around the world, JSP is shifting to a company that delivers social
value that solves the problems of customers and society in order tobecome a company that is needed by society. In addition, as
expressed by our management policy Deliver with WOW! , we aim
to be a company where all employees work with a sense of
excitement, and which delivers excitement and satisfaction to ourstakeholders.
We will share our vision and thoughts with all employees, pay
attention to the needs of the world, and take steps to solve

problems. Foamed plastic is the core of our value creation, and is
the seed that drives the economy and enriches society. JSP is
steadily taking steps to expand the possibilities of foamed plastic,
and to instill and develop the technology in various ﬁelds. Our
progress forward will continue even in the current challenging
business environment.

Key Elements
Strengthen and expand
existing businessBusinessdomains
to bepromotedManagement policy

Thermal insulationmaterials forbuildings and houses

FPD cushioning
materials
Quantitative
Vision06 Our Value Creation Process

Automotive
parts

Expand thebusiness domain
Strengthen the
management base

JSP Corporate Report 2023

Four Growth Engines

New businessdomains

VISION 2027
Net Sales¥180.0 billion

Operating proﬁt¥18.0 billion

Operating proﬁt
ratio

10%

Message from the President
Extrusion Business

Fiscal 2022 results and outlook
The global economic recovery slowed due to shortages ofsemiconductor as a result of the resurgence of the COVID-19 pandemic,
soaring resource and energy prices as a result of the prolonged situationin Ukraine, and sharp ﬂuctuations in exchange rates. In the Japanese
economy, the process of normalization of the previously restrictedeconomic and social activities has begun. Although consumer spending,capital expenditures and other parts of the economy are recovering, theoutlook for the economy is uncertain due to soaring resource andenergy prices, inﬂation, and the impact of restrictions on the supply side.
The foamed plastics industry in Japan faced serious challenges as therecovery in demand came to a standstill.
For the JSP Group, net sales were higher than one year earlier mainly
because of revisions of prices of JSP products. Operating proﬁt
decreased from one year earlier due to delays in product price revisions
to reﬂect the continuing increase in the cost of raw materials, and toother reasons such as rising utilities costs and personnel expenses. Net
sales in the current ﬁscal year were ¥131,714 million, up 15.4% from theprevious ﬁscal year. Operating proﬁt decreased 35.6% to ¥2,956 million,
ordinary proﬁt decreased 30.9% to ¥3,363 million and proﬁt attributableto owners of parent decreased 12.5% to ¥2,531 million.
Recovery is expected to continue as the impact of the pandemic ends,
although there are risks associated with the Ukraine crisis. However,there is still strong upward pressure on prices, and the labor markets are
expected to remain tight in many countries and regions, including Japan.
Under these circumstances, the JSP Group aims to increase earnings by
cutting energy/logistics costs and revising prices of products. At thesame time, we are working to address challenges in sustainability
management.

In ﬁscal 2022, sales volume in this segment was about the sameas one year earlier but monetary sales were higher because of
product price revisions. Earnings decreased due to the lag
between the rising prices of raw materials and product pricerevisions to reﬂect these higher prices and to the higher cost ofutilities.
Sales of materials for household products, mainly STYRENPAPER,
a foamed polystyrene sheet used in food packaging, increased.
This was mainly the result of higher sales volume in the food tray
category and for MIRABOARD, a material used for advertising
displays. Due to a decline in the production of ﬂat panel displays,
sales were lower than the previous ﬁscal year for industrial products,
including MIRAMAT, a foamed polyethylene sheet used forindustrial packaging materials and ﬂat panel displays. Sales
volume of MIRAFOAM, an extruded board made of foamed polystyrene, and other construction and civil engineering materials were at
the same level as the previous ﬁscal year. However, sales increased
due to product price revisions.
As a result, extrusion business sales increased 8.6% to ¥42,443
million and operating proﬁt decreased 36.5% to ¥1,767 million. In
ﬁscal 2023, we expect sales to increase due to increased sales
volume. However, we expect earnings to be at the same level due
to an increase in ﬁxed expenses.

increased due to strong demand for materials used in theautomotive sector.
In Europe, there was strong demand for materials used inﬁelds such as HVAC (Heating Ventilation and Air Conditioning),
despite the lower volume in the automotive sector caused by
the shortage of parts. In China, sales volume decreased becauseof the impact of the rapid upturn of the pandemic s severity on
economic activity, although the sales volume in the automotive
sector was ﬁrm. In Taiwan, the sales volume decreased becauseof lower demand involving ﬂat panel displays. The sales volume
of expandable polystyrene bead products, chieﬂy STYRODIA,
decreased because of lower demand for these products mainlyin the ﬁsheries sector. Monetary sales increased mainly due to
product price revisions.
As a result, sales in bead business increased 20.8% to¥82,761 million and operating proﬁt decreased 22.2% to ¥2,038
million. In ﬁscal 2023, we expect an increase in sales due to therecovery of sales volume of ARPRO/P-BLOCK and the revision of
product prices to oﬀset higher prices of raw material. Earnings
are also expected to increase due to higher sales volume andimproved proﬁtability.

Other
Net sales (Millions of yen)
131,714114,125
102,668

Operating proﬁt(Millions of yen)
5,185

Proﬁt attributable toowners of parent(Millions of yen)
3,017

4,589

2,893
2,531

2,956

2020 2021FY2022

2020 2021FY2022

2020 2021FY2022

Bead Business
Sales in this segment increased due to increased sales volumeof high-performance products and product price revisions.
Proﬁt decreased due to the same reasons as the extrusionbusiness.
The sales volume and monetary sales of high-performance
products, mainly ARPRO/P-BLOCK, an expanded polypropylene
product manufactured and sold worldwide, increased slowly
due to the negative eﬀects of the pandemic and Ukraine crisis.
With regard to sales volume by region, those in Japan were at
the same level as in the previous year, due to a delayed
recovery in the automotive sector. In North America, in
addition to recovery from the previous year, the sales volume
increased due to the strong demand for materials used inreturnable containers. In South America, the sales volume

JSP Corporate Report 2023

07 Our Value Creation Process

Sales increased in Japan as sales volume in the automotive partstransportation and other market sectors recovered. In China, theimpact of demand for packaging materials for many types ofcomponents resulted in lower sales. As a result, sales in the othersegment decreased 0.4% to ¥6,508 million and operating proﬁt
decreased 21.5% to ¥166 million. In ﬁscal 2023, we expect thatsales both in Japan and in China will be about the same as in theprevious ﬁscal year.

Message from the President
Concentrating management resources on

Two strategic products for expanding

four growth engines

applications and expanding areas

In order to achieve our long-term vision, JSP launched the
medium-term business plan Change for Growth , covering thethree years from ﬁscal 2021 to ﬁscal 2023. Fiscal 2023 is the lastyear of the plan. Under the basic concepts of expanding provided
value from economic value to social value to solve customers andsocial issues and strengthening our management base, Change
for Growth seeks to achieve sustainable growth through a balanceof aggressive and defensive policies, including increasing theeﬃciency of management through selection and concentration.
Quantitative targets to be achieved by ﬁscal 2023 include net
sales of ¥120,000 million, operating proﬁt of ¥7,700 million, and an
operating margin of 6.4%. At the same time, management resources
will focus on four growth engines: (1) Automotive parts,(2) Thermal insulation materials for buildings and houses, (3) FPD
cushioning materials, and (4) New business domains.

Fiscal 2022 results

1. The sales volume of automotive parts grew 6.1% compared with that ofﬁscal 2019. Although automotive production fell due to shortages insemiconductors and other parts, JSP steadily increased the new application of
our automotive parts and sales volume increased. While the businessenvironment is expected to remain uncertain, we aim to expand business byproviding next-generation products compatible with electriﬁcation, weight
reduction, energy conservation, and recycling requirements.

Our core products are foamed plastics made using general-purpose
plastics. These products have excellent functionality and high qualitythat satisﬁes various customer needs, and have great potential. The
key to our strategy is how to spread JSP products, including overseas
expansion, so that more customers will use our products. At present,
the strategic products that JSP seeks to grow are the foamed
polypropylene ARPRO/P-BLOCK and the functional highly-expanded
polyethylene sheet MIRAMAT ACE.
ARPRO/P-BLOCK for automobile parts is a product that meets theneeds of automobile manufacturers for weight reduction and recycling.
ARPRO/P-BLOCK is widely used in countries around the world in
various parts such as automobile rear seat core materials andautomobile bumper core materials. Furthermore, since
ARPRO/P-BLOCK is a material that has excellent functionality, it also
meets the standards and needs of each region, such as sports
equipment, furniture, and heat-insulating containers for foodstuﬀs. For
ARPRO/P-BLOCK, we will accelerate business growth by expanding theuse of ARPRO/P-BLOCK globally and expanding the area while
proposing applications in each region.

2. Regarding thermal insulation materials for buildings and houses, the total
sales volumes declined 6.5% compared with that of ﬁscal 2019.
Similar to automotive parts, the segment was impacted by shortages insemiconductors, which caused delays in equipment procurement andconstruction work. However, demand for energy-saving homes remains strong,
and we continue to see higher sales volume of pre-cut thermal insulationmaterials, where is our strong point. We expect business to grow, as demandfor high-performance thermal insulation rises ahead of mandatory compliancewith energy eﬃciency standards for all buildings and homes in ﬁscal 2025.
3. Sales volume of FPD cushioning materials increased 16% compared withthat of ﬁscal 2019. Targets were achieved in the ﬁrst year of the plan due tofactors such as greater demand for personal computers, displays, and otherproducts. Further growth is expected on higher demand for organic
electro-luminescence panels and personal computers, as well as overseas
business expansion.
4. In new business domains, in comparison to target sales of ¥3 billion inﬁscal 2023, actual net sales in ﬁscal 2022 were ¥0.6 billion. We are currently
pursuing new businesses and M&A projects, while commercializing elementsof our existing businesses that show potential. For M&A, in January 2022, wemade a 35% investment in the Italian company GHEPI SRL, which possesses
injection molding processing technologies. In combining JSP foaming
technologies with new injection technologies, we aim to promote thedevelopment of high-value-added products, thereby expanding our business.

Progress of medium-term business plan and four growth engines
Quantitative targets(Millions of yen)

Net Sales

120,000

Operating proﬁt

7,700

Operating margin (%)

6.4%

2023(Forecast)(Millions of yen)

Net Sales

135,000

Operating proﬁt

5,600

Operating margin (%)

4.1%

ARPRO/P-BLOCK (automotive parts)

Progress of Medium-term
Business Plan and four
growth engines

Automotive
parts*1

Thermal insulationmaterials forbuildings and houses*2

FPD cushioning
materials

New businessdomains

2023 (Plan)

+23%

+12%

+20%

Net Sales¥3.0 billion

2022 (Results)

+6.1%

△6.5%

+16%

Net Sales¥0.6 billion

2023 (Forecast)

+11%

+1%

+20%

Net Sales¥0.6 billion*1 Sales volume for EPP business*2 Sales volume for construction and civil engineering business
Figures in the columns of automotive parts, thermal insulation materials for buildings and houses, and FPD
cushioning materials are changes in volumes compared with that of ﬁscal 2019.

JSP Corporate Report 2023

08 Our Value Creation Process

ARPRO/P-BLOCK (ﬂat sheet)

Our strategic product MIRAMAT ACE is ideal for cushioning materials in theelectronics industry due to capability for long-term suppression of theadhesion of dust and dirt caused by static electricity. Applications related
to FPD cushioning materials are extremely wide, ranging from computers,
smartphones, and televisions toautomobiles and medical devices.
Further expansion is expected in the
future due to proposals for new
applications. Also, as the performancesuperiority of MIRAMAT ACE is
expected to be maintained at a highlevel, it is expected that the replacement of existing cushioning materials
will accelerate even further.
MIRAMAT ACE
Expanded polyethylene sheet withpermanent anti-static properties

Message from the President
Initiatives for sustainability management
Based on our corporate philosophy, the JSP Group s approach tosustainability management is to continuously enhance ourcorporate value with a strong awareness of our corporate
responsibility in the elements of environment, society, andcorporate governance. In our business activities, we are strengthening the promotion of sustainability management through thedevelopment of products and manufacturing technology that
contribute to reducing the environmental burden throughout the
product life cycle. In order to promote the basic concept of expanding
the value provided by JSP in terms of both economic and social
value as stated in our current medium-term business plan, we aregoing to utilize the advanced foam technology and know-how that
we have cultivated. We ﬁrmly believe that foamed plastics, whichhave various advantages such as energy saving, resource saving,cost saving, and recycling, will support people s aﬄuent lives andcontribute to the realization of a sustainable society.
Foamed plastics can dramatically reduce the amount of plastic
used for the same volume. Furthermore, using our technology toachieve the same or greater strength makes it possible toeﬀectively utilize resources, which also leads to conservation of the
global environment. The essence of sustainability management at
JSP is to contribute to the realization of a sustainable society
through ideas and technological innovation centered on foamed
plastics.
In April 2021, we established the Sustainability Promotion
Department from the perspective of instilling the concepts andimportance of sustainability at JSP. In addition to reorganizing theCompany s diverse businesses from the perspective of sustainability,
the Department presents CO2 reduction targets, reports on related
progress, and operates a navigation function that fosters and uniﬁes
internal awareness by presenting a road map for future sustainability.

Strengthening the management base for new growth
The other basic strategy of the medium-term business plan is tostrengthen our management base. To realize this strategy, we areworking on the three initiatives of constructing a business base,strengthening our human resources base, and strengthening our
ﬁnancial base. We will reassess our strengths and invest not only
people, goods, and money, but also all kinds of resources, such as thetechnology and know-how that we have cultivated over many years, toexpand into new markets and create business models. In this way, we
will build a foundation for growth over the medium to long term.
In order to strengthen our business foundation, JSP will strengthen our
logistics system, strengthen collaboration between Group companies,
and optimize our production system. We will also focus on improving
operational eﬃciency, improving productivity, and rebuilding coresystems through digital technology (DX), and on pursuing the sustainabilityof raw materials and reducing greenhouse gas emissions in the supply
chain.
To strengthen our human resources base, JSP is working on initiatives
such as promoting diversity and ﬂexible working styles, optimizing sales
systems and personnel, and strengthening focus markets. In particular,
maximizing the value of human resources is essential to improving
corporate value, and we are strongly aware of the link between humanresource strategies and management strategies. JSP plans to revise ourpersonnel system to incorporate a meritocracy perspective so that
mid-career and leader-class employees can further demonstrate theirabilities. We plan to introduce the revised system in ﬁscal 2024.
To strengthen our ﬁnancial base, JSP is investing to strengthen our
growth foundation, working to achieve ﬁnancial stability, and allocating
cash to optimize shareholder returns. Regarding investment, we have been
taking a wait-and-see approach due to the recent surge in energy and raw
material prices. However, we feel the need to organize our thoughts on
capital policy and fund management. The time has come for us to consider
new investments in order to expand the applications and regions of our
products, which are the core of the company s business growth. We
believe that ﬁnancial strategy, including improving capital eﬃciency, will bea major theme of our next medium-term business plan.

Qualitative improvement of corporate governanceIn October 2020, an incident occurred at the JSP Group which caused
us to review our corporate governance. Speciﬁcally, there was anincident of capital outﬂow based on false instructions by a malicious
third party at a Group company in Europe. The failure to prevent thisincident was due to the lack of governance and the fundamental
cause was insuﬃcient attention to the far reaches of our global
network.
Human beings tend to change their interpretations to suit their own
convenience. It can be said that the pursuit of work eﬃciency

JSP Corporate Report 2023

has led to omission of an important veriﬁcation process and we havemade sacriﬁces as a result. In order to reduce troubles and accidents, it
is important to constantly review rules which have become customary,and to compare each rule with actual conditions. From this point ofview, as a speciﬁc measure to prevent recurrence, we have made majorrevisions to our internal rules and regulations. We have established an
independent department dedicated to overseeing overseas organizations and clariﬁed the role of the department. This enables us to pay
attention to the farthest reaches of our global network. In addition, we
are working to ensure open communication at our organization by
constructing systems which enable consultation on any issues.
On the other hand, in the last two to three years, we have developed
the structure of meeting bodies such as the Board of Directors and the
Executive Oﬃcers Meeting. At last year s General Meeting of Shareholders, we increased the number of outside directors by one. This year, wewelcomed a female director. In addition, in April 2022, we established aSpecial Committee on Governance composed of outside directors. By
ensuring fairness, transparency, and objectivity, we are working to
improve the quality of corporate governance including appropriately
protecting the interests of minority shareholders.

Message to our shareholders and investors
Fiscal 2023 is the third and ﬁnal year of our medium-term business plan.
We expect that we will not be able to reach our numerical targets dueto the diﬃculty to fully respond to major changes in the external
environment. However, as the result of cost pass-through whileobtaining consent from our customers, we feel that we have recovered
up to roughly 70%. In addition, we were able to make steady progressin planting and building foundations for future growth, including businessexpansion, market development, and the establishment of a management base.
New medium-term business plan will start in the next ﬁscal year. We
are holding repeated discussions to create the plan with greater focus
on proﬁtability by strengthening our global management structure andpursuing capital eﬃciency and proﬁt eﬃciency, toward the realization of
our long-term vision.
The business environment is expected to continue to be uncertain andsubject to rapid change. Amidst such circumstances, we will promote
the penetration of our corporate philosophy throughout the company.
We will also transform changes into opportunities by further enhancing
our strengths in human resources and technological capabilities. We aim
to improve our corporate value over the medium to long term throughbusinesses that contribute to the realization of a sustainable society,centered on sustainability management.
We look forward to the continued support from all of our stakeholders.

09 Our Value Creation Process

Medium-term Business Plan "Change for Growth" (FY2021-2023)
Medium-term Business Plan "Change for Growth" (FY2021-2023)
Basic Strategies

Transformation Strategy

1. Expand provided value from economic value
to social value to solve customers and social
issues
2. Strengthen the management base

1. Shift to a highly cyclical business model
2. Make the organization more dynamic andeﬃcient

Qualitative targets●Improve customer satisfaction by consciously increasing eﬀorts to Deliver with WOW!
●Connect SDGs initiatives not only to proﬁt improvement but also to social contribution
and job satisfaction●Establish a strategic and eﬃcient corporate organization●Use risk assessments and other measures to prevent lost worktime injuries

Investment plan
Four Growth Engines
In our growth strategy, we will promote management eﬃciency through selection and concentration; forexample, concentrating management resources on our four growth engines, which include the expansion ofbusiness domains. At the same time, we will aim for stable and sustainable growth through a balance
between aggressive and defensive policies.

Major investment plans●Warehouse construction at Kanuma MF Plant as alogistic cost saving plan
●Production capacity expansion for ARPRO/P-BLOCK(Korea, Taiwan, India)●Production process improvement in North America

Plan for FY2021 to FY2023●Capital investment plan: ¥23.5
billion (3 years)●Depreciation: Approx. ¥20.0
billion (3 years)

Forecast for ﬁnal ﬁscal year at the end of July, 2023
Automotive parts*1
FY2023
Target+23%
Need for vehicle weight
reduction
Next-generation productsthat satisfy energy-saving
and recycling demands

FY2022
Result+6.1%

Thermal insulation materials
for buildings and houses*2

FPD cushioning
materials+20%

Net sales¥3.0 billion

Growing demand for
LCD/organic EL panels
and personal
computers
Increasing overseas
business development

Promotion of M&A
activities
Promotion ofcommercialization forexisting businesses
that show potential+16%

Net sales¥0.6 billion+12%Growing demand forenergy-eﬃcient housing
Expanding demand forhigh-performanceinsulation materials

New business domains△6.5%*1 Sales volume for EPP business*2 Sales volume for construction and civil engineering business
Figures in the columns of automotive parts, thermal insulation materials for buildings and houses, and FPD
cushioning materials are changes in volumes compared with that of ﬁscal 2019.

Quantitative
targets

FY2022
ResultQuantitative target FY2023 forecast (millions of yen)
Net sales

Operating proﬁt

Operating proﬁt ratio

135,000

5,600

4.1%

Progress of four growth engines

FY2023
forecast

Automotive parts Thermal insulation materials
for buildings and houses

Net sales(Millions of yen)

Operating proﬁt(Millions of yen)

Operating proﬁtratio (%)

+11%

120,000

7,700

6.4%

Forecast for extrusion/bead business

131,714

2,956

2.2%

JSP Corporate Report 2023

+1%

Extrusion BusinessNet sales are expected to increase due to anincrease in sales volume. Proﬁts are expected toremain at the same level as the previous ﬁscal
year, due in part to an increase in ﬁxed costs.

10 Value Creation Strategy

FPD cushioning
materials+20%

New business domains
Net sales¥0.6 billion

Bead Business
Sales and proﬁt are expected to increase
due to a recovery in sales volume andrevisions of product prices.

Financial and Non-financial Highlights
Financial Highlights
Net sales/Gross proﬁt to net sales(Millions of yen)（%）

150,000
120,000

116,133

35

131,714
113,375

90,00060,00026.6

26.6

102,668

114,125

30

28.0

25
25.5
22.1

30,00020

00FY20182019■ Net sales (left axis)

2020

Gross proﬁt to net sales (right axis)

（%）
6

4,309
5.4

3,000

3,638
4.5

2,000

3,017
3.7

2,893

2,531

3.4
2.8

1,000
0
FY2018

2019

2020

2021

■ Proﬁt attributable to owners of parent (left axis)

4,000

5
4

4.5

2,956

4.0

2,000

3
2

1,000

2.2

0
2019

2020

■ Operating proﬁt (left axis)

Operating proﬁt to net sales (right axis)

120,000

4

90,0003

60,0002

30,0000084,141

4,000

5.0

3,000

5,210

（%）
6

5,519
5.4

4.6

5

4,868

4.3

3,363

2.6

1,000
0

84,646

134,527

85,561

144,528

90,2312019■ Ordinary proﬁt (left axis)

2020

2021

2022

Ordinary proﬁt to net sales (right axis)

70

96,123

62.1

63.4

63.9

63.9

63.5

2019

2020

2021

2022

60

0
FY20182019

ROE (right axis)

2020

2021
■ Total assets

JSP Corporate Report 2023

2022
■ Net assets

11 Value Creation Strategy

20FY2018

Shareholders equity ratio
129,053

4
3

2,000

（%）

150,000

128,445

5,000

0Total assets/Net assets

129,229

Ordinary proﬁt/Ordinary proﬁt to net sales(Millions of yen)
6,000
5,835

2022

2021

(Millions of yen)

5

2022

（%）
6

4,589

5.1

4.7

3,000

5,185

5,083

FY2018Proﬁt attributable to owners of parent/ROE

4,000(Millions of yen)
6,000
5,479
5,000

2022

2021

(Millions of yen)

5,000

Operating proﬁt/Operating proﬁt to net sales

FY2018Financial and Non-financial Highlights
Financial Highlights

Non-ﬁnancial Highlights (Non-Consolidated Figures)
CO2 emissions/GHG emissions index based on 2013

Capital investment/R&D expenditures(Millions of yen)
15,00012,00010,8969,000（t-CO2）

（%）

2,500

80,000100

2,400

70,0002,300

60,0002,200

50,00012,200

2,312

6,000
3,000

(Millions of yen)

2,246

2,277
2,183

5,668

2,155

8,200

5,658

0
FY201820192020■ Capital investment (left axis)

2021

60.00

58.9
50.00

40.00

49.4

30.00

0

0

50.00

50.00

（%）
60
50

51.5

30
0

0
2019

2020

■ Dividend per share (left axis)

67,36762,991

83.9

66,24082.5
78.4

63,033

78.5

2019

2020

2021

90

30,00080

20,00070

36,848

13.8

700

13.0

13.4

737

737

14.3
757

35,04936,855

100
99.1

101.0

FY2018

2019

102.3

101.1

96.9

2021

2022

15

10

2020

■ Crude oil equivalent energy consumption (left axis)
YoY comparison of energy intensity bycontribution rate method (right axis)

（%）
70

60

66.8
60.5

58.8

58.6
54.9

645

600

5

50

0

0

610
0
2019

2020

2021

2022

FY2018

Payout ratio (right axis)

Number of employees (left axis)

Average years of service (right axis)

JSP Corporate Report 2023

12 Value Creation Strategy

50
0

0

Paid leave acquisition rate
(Years)

2022

2021

200

35,068150

GHG emissions index based on 2013 (right axis)

Number of employees/Average years of service

36,63810,0002022(Persons)

13.9

（%）

40,0000■ CO2 emissions (left axis)

800

（kL）

40

34.6

FY201888.0

FY2018

41.0

20.00
10.00

50.00

30,000R&D expenditures (right axis)

(Yen)

50.00

40,000

2,000

2022

Dividend per share/Payout ratio

50.00

2,100

70,631

Crude oil equivalent energy consumption/
YoY comparison of energy intensity by contribution rate method

FY2018

2019

2020

2021

2022

Overview by Segment

Extrusion BusinessBusiness Environment
Opportunities

・Increase earnings by revising sales prices
・Focus on development of sustainability strategy products
・Growing needs for resource-saving and high-performance product development

Koichi Wakabayashi
Director,
Executive Vice President
In charge ofExtrusion Business Division

Net sales ratio

Risks

・Increase in raw materials costs, distribution
costs, and power costs
・Revision of sales price・Decline in consumer sentiment due to rising prices

Strengths
・Know-how and technological capabilities to maximize the lightweight, heat-insulating, and shock-absorbing
properties of foamed plastics
・Development capabilities for high value-added products diﬀerentiated as a leading company in foamed plastics
・Close relationship of trust with customers and ability to respond to advanced needs

Review and Future Outlook
The extrusion business in ﬁscal 2022 was also aﬀected by factors such as soaring prices for raw materials, distribution, and power,
as well as the shortage of semiconductors. Operating proﬁt decreased due to delayed sales price revisions for raw material prices
increase, in addition to soaring utility costs. Moving forward, we expect continued increases in prices for raw materials, distribution, and utilities. Revision of sales prices will continue to be the most important issue in ﬁscal 2023.
JSP will also focus on developing strategic products that promote sustainability management. We will accelerate the development of resource-saving, high-performance products by utilizing the properties of foamed plastics such as light weight, heatinsulation, and cushioning. We will contribute to solving social issues by supplying new products with less environmental impact
than ever before.

32.2%

Living Materials BusinessNet sales and Operating proﬁt■Net sales
39,076

Operating proﬁt(Millions of yen)

42,44343,700

1,767

1,800

2,782

FY2021(results)

2022(results)

In the Living Materials Business, which mainly comprises STYRENEPAPER(foamed polystyrene sheets used in food packaging), demand for general-purpose trays for fresh food declined slightly as pandemic stay-at-homedemand cooled. At the same time, demand for side dish containers used forhome meal replacement increased. In ﬁscal 2023, we anticipate a recovery
in demand for food containers due to recovery leisure excursions, events,
tourism, etc., in conjunction with normalization of daily life after the
pandemic, as well as an increase in demand for containers that support new
eating styles such as take-out and delivery.
In the Living Materials Business, we plan to actively develop food containers with reduced environmental impact such as biomass materials andrecyclability. We will develop new applications by realizing even higher
added value for PSP, which has excellent resource-saving and heat-insulating
properties. In addition to heat resistance, we will promote the market
development of grades with excellent oil resistance and recyclability.

2023(forecast)

JSP Corporate Report 2023

13 Value Creation Strategy

STYRENEPAPER (food containers)

Overview by Segment

Extrusion BusinessIndustrial Materials BusinessIn ﬁscal 2022, the performance of FPD cushioning materials, which
is one of JSP s growth engines, decreased for both high-valueadded products and general-purpose products. This decrease wascaused by the impact of stock adjustments of LCD panels. In ﬁscal
2023, we expect a gradual recovery toward the second half of theﬁscal year. Growth in China, a large market, will be important in
expanding demand for FPD cushioning materials. From 2022, wewill dispatch personnel to local group Companies in order tostrengthen our sales activities. As a basic strategy for the extrusion business, we will promote the switch from other materials by
actively communicating the value of JSP products.
The need for FPD cushioning materials is expected to further increase dueto the higher quality and larger sizes of displays such as organic EL and 8K.
Further expansion is expected in the future, not only for smartphones andcomputers, but also for automobiles and medical devices. MIRAMAT ACE has
a high advantage in performance, and we predict that the replacement ofexisting cushioning materials with MIRAMAT ACE will accelerate further inthe future.

TOPIC

J-WALLBLOCK and

Foam-Support Construction

Method Registered with NETISMIRAMAT ACE (FPD cushioning materials)

In June 2022, J-WALLBLOCK, which has a solid trackrecord as a simple wall construction method for roadretaining walls, and the foam-support construction method,which uses EPS blocks and urethane foam
together to reinforce bridges, were registered with the
New Technology Information System (NETIS) operated by
the Ministry of Land, Infrastructure, Transport and Tourism
in Japan. JSP expects that NETIS will provide theinformation to public works contractors and builders andsales will increase.

Construction and Civil Engineering Materials Business
Fiscal 2022 performance in this area of business decreased by 7%, falling below
the ﬁscal 2023 target of a 12% increase over ﬁscal 2019 sales volume. This wasdue to the supply of housing equipment (hot water heaters and other appliances)having been aﬀected by a shortage of semiconductors and other parts which, inturn, caused there to be delays in housing starts. In addition, sales of MIRAFOAM
λ (lambda), a strategic high-performance insulation material for housing, werelimited due to diﬃculties in obtaining some auxiliary materials. At the same time,sales volume of pre-cut thermal insulation materials continued to grow. We will
expand our business further by leveraging the strengths of this product, which
include a shorter, simpler installation process and reduced industrial waste-related
costs.
In the area of civil engineering materials, J-WALLBLOCK, an expanded polystyrene(EPS) block with wall surface material, is gaining market recognition for its
contribution to reducing time and costs associated with construction. JSP expects
sales of the product to continue to grow steadily in ﬁscal 2023.
The construction industry is expected to continue promoting theconstruction of net-zero energy and other energy-eﬃcient housing. In
addition to new energy-eﬃcient homes, we will work to develop
high-performance insulation materials and construction methods thatare easy to apply. These should help us capture business associatedwith the renovation of many existing homes in Japan to energy-eﬃcient speciﬁcations.

Pre-cut thermal insulation material MIRAFOAMΛ (lambda)

Insulation materials pre-cut to customer speciﬁcations eliminate
the need for cutting at the construction site, saving time andsimplifying the installation process, leading to lower labor costs.
Further, as no industrial waste is generated, disposal costs arealso reduced.
Foam-support construction method registered with NETIS.

JSP Corporate Report 2023

14 Value Creation Strategy

Overview by Segment

Bead BusinessBusiness Environment
Opportunities

Yasuo Oikawa

Director,
Executive Vice President
In charge ofBead Business Division

Net sales ratio

Risks

・Decrease in automobile production due toshortage of semiconductors
・Decrease in orders due to stagnation of
economic activity
・Soaring raw material prices

Strengths

・Achieving the reduction of GHG emissions, which is a customer issue
・Providing customers with added value other than products (for example, technical support)
・Business growth potential that leverages our global network

Review and Future Outlook
In ﬁscal 2022, the overall bead business recovered in terms of both sales volume and net sales
compared with ﬁscal 2021 results. However, the results fell short of progress goals in our
medium-term business plan. Automotive components̶one of our four growth engines̶saw
sales volume in ﬁscal 2022 increase just 6% over the ﬁscal 2019 level, in contrast to the targetof 23% growth in ﬁscal 2023. The reason was mainly due to shortages of semiconductors andother components, accompanied by an economic slowdown. Business in the areas of
ARPRO/P-BLOCK expanded polypropylene and STYRODIA expandable polystyrene (EPS) were
impacted by price increase in raw material and fuel costs beyond expectation. Moving forward,
although the outlook remains somewhat uncertain in the face factors such as conditions in
Ukraine, we expect the production volume of automobiles to increase, and expect further
recovery from the pandemic in Asia and other regions.

62.8%

Net sales and Operating proﬁt■Net sales

・Growing demand for resource-saving andhigh-performance products
・Increase earnings by revising sales prices
・Expand earnings by adding value to products andreducing costs

Operating proﬁt
82,761(Millions of yen)
85,00068,513

4,000
2,620

2,038

FY2021(results)

2022(results)

ARPRO/P-BLOCK (automotive parts)

Achieving the Medium-term Business Plan
The key to achieving the medium-term business plan is a technology and product development strategy focused on the next generation. Our business for advanced materials in Japan isgoing to promote the development of new technologies and products which contribute tocost reduction based on the principles of sustainability and consideration for the environment.
In the automotive ﬁeld, our sales department, with its knowledge of customer needs, and thedevelopment department, with its knowledge of technology, have worked together to achieve
successful results. In the past, one of our concerns was the time-consuming process ofcreating prototypes by hand and repeating tests during the design phase. However, we
now have a system in place that supports quick design using simulation technologies. Thissystem has well received by our clients. We aim to create similar partnerships with moreof our clients, which should go far in helping us achieve our medium-term business plan.

ARPRO/P-BLOCK (planks)

2023(forecast)
STYRODIA (molded components and beads)

JSP Corporate Report 2023

15 Value Creation Strategy

Overview by Segment

Bead BusinessSeizing Growth Opportunities
We are focusing on technological innovation and developing new markets from the perspectives of sustainability and environmental
protection. Regarding ARPRO/P-BLOCK business overseas, our main target area remains the automotive component sector, but we are
expanding into non-automotive areas. These include food delivery containers, as well as noise, vibration, and harsh sound absorbing
components that beneﬁt from the absorbing and lightweight properties of foamed plastic. In Japan, materials development at the Yokkaichi
Research Center, molding technology development and application development at the Kanuma Research Center work together to develop
new high-value-added products. As a result, P-BLOCK LC, which reduces GHG emissions produced during the molding process, wasdeveloped and has been performing well on the market, adopted by automobile manufacturers. In addition, we have launched otherpolyethylene-based materials that incorporate biomass. In the domestic EPS business, which is facing a severe demand environment as thenumber of ﬁsh boxes, a mainstay product for the ﬁsheries industry, has declined due to a marked decrease in yields. This has caused us tomake every eﬀort to expand sales of high-value-added products, including those that beneﬁt from special functions, such as lost foam
casting.

Spreading One JSP policy
Our bead business targets expansion through global ideas and activities, which depends on ascertaining common global issues and speciﬁc local
issues. Currently, our most important global issue is how to expand our ARPRO/P-BLOCK business to markets around the world. At the same time,
we recognize such local issues as the need to support global customers who have diﬀerent requirements. We have long sought to provide local
market support by appointing local regional personnel there to management and sales positions. To date, we have done so successfully at our
North American and European businesses. Now, to promote business globally, we are working to inculcate the concept of One JSP throughout
the Group. This will allow Group companies worldwide to work as one in promoting business. Besides fostering this concept, we will make theinvestments necessary to enhance overall Group value. By leveraging One JSP̶our global network̶we will achieve business growth.

Group Collaboration for Growth
In addition to our existing lineup of expanded polypropylene beads, we are adding P-BLOCK LC, MIRABLOCK BIO, ARPRO REvolution, and otherproducts with distinctive environmental value. We are providing the market with products that are expected to have high marketability inaccordance with the characteristics and needs of each region. Collaboration within the Group is critical to the development of these strategic
products. It occurs among the Yokkaichi No. 2 and Kanuma No. 2 Plants (which produce beads), JSP Molding Co., Ltd. (which produces
molded parts such as car bumpers) located on the same site, and the Development Department, as does targeted value-added manufacturing.
At the same time, we are working to devise a next-generation recycling system. Although our foamed plastics are highly recyclable, there is aneed to collect customers used products, crush them to reduce their volume, and transport them to our plants. In Europe and North America,
we have already set up recycling schemes for ARPRO, which is widely used, mainly in automobiles. We will reduce the environmental impact ofour products on a global scale by sharing the eﬀorts and technologies of each region around the world.
We will continue to expand our business, developing ever more products of social and economic value.

JSP Corporate Report 2023

16 Value Creation Strategy

P-BLOCK LCThis is an advanced, sustainable product with new features. A
proprietary, low-carbon technology has been applied to beads thatcan make energy use more eﬃcient during molding and contributeto reduce GHG emissions, which is an issue customers are facing.
As seen in the image, each bead has a hole in the center, which isa unique technology born from JSP s long-term technologicaldevelopment eﬀorts.

Responsible CareRC Activities

The JSP Group promotes RC activities as a means of realizing our corporate philosophy.

RC Activity Policy

Spiral Up in RC Activities

RC Promotion Structure

As an internationally competitive company thatemphasizes safety and the environmental
responsiveness, JSP will carry out business activities
that are trusted and satisﬁed by all stakeholders.

JSP is striving to implement precise PDCA cycles for the six
basic RC activities: occupational health and safety, process
safety and disaster prevention, environmental preservation,
product stewardship, logistics safety and communication withthe public. As the ﬁrst step, “Medium-term Targets for RC
activities are formulated and each business unit prepares (P:Plan = Plan) and implements (D: Do = Implement or Execute)the “RC Action Plan to achieve the Medium-term Targets. The
next step is to conduct RC Audit (C: Check = check andevaluation) to conﬁrm the progress and achievement of these
activities. The results of the RC audit are summarized, and theactivities are reviewed at the “Environment and Safety Meeting
held by the company management. The results are reﬂected in thenext activity (A: Action = action/improvement) and spiral up forcontinuous improvement.

JSP has the Environment and Safety Meeting, chaired by thepresident, as the highest decision-making body regarding RC
activities. In addition to discussing and deciding on comprehensive policies related to RC activities, this committee establishes
activity targets based on the results of RC audits, formulates
medium- to long-term plans, and establishes, revises, or abolishes
various internal regulations.
The JSP Group in Japan also holds RC Meeting to deepen theinformation exchange on RC activities.
In order to eﬀectively promote RC activities, JSP is promoting therevitalization of RC activities throughout the Company by implementing
the “Environment and Safety Promotion Committee and “Environment
and Safety Status Assessment for JSP Group in Japan.

Dialogue withsociety

Environmental
protection

Corporate
Logistics
safetyPhilosophy

Plan

Based on JSP's “Environment and Safety Policyand “Medium-term
Targets , each business
unit prepares “RC Action
Plan .

Occupational healthand safety

Environmental and Safety
Council
Responsible Care Audit
Responsible Care Meeting
Environmental Safety
Status Survey

Safety anddisasterprevention

General Technology Division(Responsible Care
Promotion Oﬃce)
Hokkaido Plant
Kanuma Oﬃce
Kanuma Research Center
Development Center
Kashima Plant
Yokkaichi No.1 Plant

ActionChemicals andproduct safety

Do

Implement the RC
Action Plan

President

Review of activities at the“Environment and Safety
Meeting based on the
results of RC audits to
identify problem areas(spiral up to the status
required by the company)

Check

Conduct RC Audit toassess the status

Yokkaichi Research Center
Yokkaichi No.2 Plant
Kansai Plant
Kitakyushu Plant
Kyushu Plant

RC Audit

Details of RC mid-term targets, RC activity results
and plans
https://www.co-jsp.co.jp/english/sustainability/rc/rc̲act.html

JSP Corporate Report 2023

JSP Group Environmental
Safety Promotion
Committee

17 Value Creation Strategy

In order to evaluate whether PDCA cycles are being adequately
implemented at each workplace based on uniform criteria, theperson in charge of environment and safety and members of the
responsible department visit each workplace once a year to
conduct RC audits.
In FY2022, on-site audits were conducted at 12 workplaces
including research centers. Based on a “checklist of activities
at each workplace, we checked management documents andthe status of compliance with laws and regulations, conducted on-site inspections and interviewed at each workplace
regarding pending issues and priority challenges.

Responsible CareRC Activities
Safety Policy

・We keep in mind that safe and stable operations are the basis ofcorporate activities and prevent accidents and disasters.
・We comply with laws and regulations and other standards, and strive
for health & safety, security & disaster prevention and product safety.
・We continuously improve health & safety management and security &disaster prevention systems and work together to engage in health &safety activities and security & disaster prevention activities.

Security & Disaster Prevention
Countermeasures against factory ﬁres
caused by static electricity
In the case of using ﬂammable gas as a blowing agent in the production
process of foamed plastic, we prevent ignition caused by static electricity byproperly installing ground wires and lowering the withstand voltage with static
eliminators and water mist. In order to avoid repetition of ignition incidents thathave occurred in the past, we have established a system to check whether thecountermeasures are being continued. We added check items for during safety
patrols and periodically conﬁrm that countermeasures are functioning.
We are also working to prevent recurrence of ignition incidents bycontinuing to check both equipment and operations, such asattaching stickers to areas where ignition incidents have occurred inorder to make it visible to alert operators.

Logistics Safety
Logistics Accidents
The majority of trucking accidents occurs at customer sites at times suchas delivery. 12 trucking accidents occurred in ﬁscal 2022 in Japan. Backing
accidents and collisions with the eaves (upper part of the building) wereparticularly frequent. In order to reduce such accidents, we promote safety
awareness among drivers and ensure that they thoroughly check the six
directions (front, back, left, right, up, and down) around their trucks.
We also continue activities aimed at increasing safety awareness inlogistics by periodically soliciting safety slogans within our company
and using them as banners to be installed in our factories to continue
our distribution safety enlightenment activities. Our target number oftrucking accidents for ﬁscal 2023 is 6 or less. We will continue to
implement various safety measures to achieve this goal.

Initiatives for White Logistics

In response to the serious shortage of truck drivers in Japan, White
Logistics is recommended to ensure stable logistics necessary forpeople s daily lives and industrial activities, as well as to be useful for
economic growth. As part of our eﬀorts to promote White Logistics, wehave declared our Declaration of Voluntary Action for White Logistics
and are actively addressing logistics issues, including measures such as
improvement of truck transportation productivity and logistics eﬃciency
and realization of a healthier working environment where women
drivers, drivers in their 60s, and others can work more comfortably.

Product Stewardship
Challenge to Reduce PRTR Substance Emissions
JSP Corporation investigates and reports annually to administrative
agencies the amounts of substances subject to notiﬁcation as
speciﬁed in the PRTR Law* that are released into the environment andthe amounts transferred from our business sites to outside entities.
*PRTR Law: Law on understanding the amount of speciﬁed chemical
substances released into the environment and promoting
improvement of management
Substances with high emission volumes reported
under the PRTR Law (FY2022 results)
https://www.co-jsp.co.jp/english/sustainability/e/e̲safety.html

Risk Assessment of Chemical Substances
JSP Corporation has set 1) Steady implementation of chemical
substance risk assessment and 2) Zero leakage and dispersal
problems related to raw materials and products as the RC
mid-term targets for ﬁscal 2021 to ﬁscal 2023 and is continuing tocheck chemical substances at each business site (obtaining andmanaging new SDS (Safety Data Sheets), education, etc.) andmanagement system checks at each business site. The Kyushu
Plant has adopted the JISHA (Japan Industrial Safety and Health
Association*) method of chemical risk assessment, which allows us
to determine risks in greater detail and with greater ease at theworksite level.
*JISHA method: It is a qualitative and simple method, which issimilar to the control banding method (improved anddeveloped as a WEB system by the Ministry of Health,Labour and Welfare), but one that can identify the chemicaland physical properties of a substance, amount handled,working hours, and working environment, and use a matrix
to determine the risk level.

Product Safety Management
Compliance with the RoHS2 Directive

In order to comply with the RoHS2 Directive in Europe, JSP
Corporation regularly conducts non-inclusion surveys ofhazardous substances at analytical laboratories with
JISQ17025* certiﬁcation to provide safety information.
*JISQ17025: General requirements for capabilities of testing andcalibration laboratories

Providing GHS* compliant SDSs (Safety Data Sheets)

JSP Corporation provides safety information by preparing
SDS for each product based on the GHS (Global Harmonized
System of Classiﬁcation and Labeling of Chemicals), even for
products that are not required by law to have an SDS.
*GHS: Globally Harmonized System of Classiﬁcation and Labellingof Chemicals
JSP Corporate Report 2023

18 Value Creation Strategy

Occupational Health and Safety
Initiatives for “Zero Lost Time Injuries”

JSP Corporation and the Group companies in Japan arepromoting initiatives aimed at zero lost time injuries . In July
2021, we started the Safety Baton Meeting for business sites inJapan. This is an online meeting where, when an operational
disaster or ﬁre/ignition incident occurs, we call for not only thatbusiness site but also other business sites with similar facilities oroperations to come together to discuss countermeasures.
By discussing the accident that occurred with other workplaces,
the meeting will help to develop truly eﬀective countermeasuresand prevent similar accidents from occurring in the future.

Number of lost time work-related accidents■JSP Corporation ■JSP Group companies on JSP Corporation s premises■JSP Group companies outside JSP Corporation s premises(Number)
10
10
8
6

6

5

4

3

3

2
0

2

4

4

2
0
FY2018

2019

2020

2021

0
2022

Change in lost workday frequency rate
JSP Corporation
JSP Group companies on JSP Corporation s premises
JSP Group companies outside JSP Corporation s premises
（%）
5
4.6
4.6
4
3

3.9

3.7

2.2

2.4

2
1.2

1
0
FY2018

2.4

0

0

2021

2022

1.5

1.2

0

2.3

2019

1.2

2020

Sustainability Management

The JSP Group s sustainability management is to continuously enhance our corporate value with a strong awareness of corporate responsibility in the elements of environment, society, and governance.
Foam products are playing an increasingly important role in solving issues such as global warming and food shortages, as well as other problems caused by environmental changes.
The JSP Group will continue to promote sustainability management and work to gain the understanding and support of all stakeholders.

Basic Sustainability Policy

Materiality Relationship Chart

1. The Basic Sustainability Policy is as follows

The JSP Group, with its corporate philosophy of Creatively and Actively Contribute to Society ,aims to continuously enhance its corporate value with a strong awareness of its corporate
responsibility in the elements of environment, society and corporate governance.

2. JSP will make the Basic Sustainability Policy known to all employees.
3. JSP complies with all relevant laws, regulations, and standards, and implements
sustainability promotion management in a systematic, organized, and sustainable
manner.

In medium-term business plan Change for Growth (FY2021‒FY2023), the JSP Group has beenworking under the slogan of broadening the value we provide for both economic value and social
value to our customers and for addressing social issue, through sustainability management.
Based on corporate philosophy of Creatively and Actively Contribute to Society , the JSP
Group is working to further enhance our corporate value by incorporating environmental, socialand corporate governance factors into its various management activities, thereby reducing risks
and capturing proﬁt opportunities, and increasing the sustainability of our business model.

Corporate Philosophy
Creatively and Actively
Contribute to Society

Company-wide Sustainability Promotion Structure● Board of Directors
The Board of Directors oversees sustainability management. In the PDCA cycle of sustainability promotion
activities, the Board of Directors is responsible forapproving plans for sustainability promotion activities,
receiving reports on performance and overseeing overall
activities.
● Executive Oﬃcers Meeting
The Executive Oﬃcers Meeting controls the overallsustainability management. In the PDCA cycle of sustainability promotion activities, it conﬁrms and reviews the
progress of company-wide activities and plays a role inpromoting these activities.

Board of Directors

Basic Sustainability
PolicyExecutive Oﬃcers Meeting

Long-term vision
VISION2027

Sustainability Promotion
Committee

Medium-term business plan
Change for Growth(FY2021‒FY2023)

Entire Company● Sustainability Promotion Committee
The Sustainability Promotion Committee serves as anadvisory body to the Executive Oﬃcers Meeting and is
responsible for reviewing specialized issues essential to the promotion of sustainability andimportant issues related to the promotion of sustainability.

▶ P.10

Basic Concept

1.

● Entire Company
Entire Company refers speciﬁcally to business divisions, corporate divisions, plants, research
centers, Group companies, etc., which are responsible for implementing sustainability
promotion activities.
● Sustainability Promotion Department
The Sustainability Promotion Department serves as the organizer of the Sustainability Promotion Committee and also strives to comprehensively understand sustainability promotion
activities and ensure that they function eﬀectively. In addition, the Sustainability Promotion
Department veriﬁes the degree of achievement of sustainability contributions, consolidates
stakeholder opinions received throughout the company and reports them to the ExecutiveOﬃcers Meeting.

JSP Corporate Report 2023

Expand provided value
from economic value
to social value to solve
customers and social
issuesMaterial issues

The creation ofshared value▶ P.2019 Sustainability

2.

Strengthen
management baseMaterial issues

Environment
Society
Governance▶ P.20Materiality

With our corporate philosophy of Creatively and Actively Contribute to Society, the basic sustainability policy of the JSP Group is to have strong awareness of corporate responsibility in theareas of the environment, society, and corporate governance and strive for the sustainable enhancement of corporate value. By identifying material issues (materiality) in sustainability management, the JSP Group incorporates responses to sustainability issues into our management strategy and implements the strategy.

Materiality Selection Process

Environment/Society/GovernancePhase 1: Identiﬁcation of Issues and Materiality Assessment

The JSP Group identiﬁes a wide range of social issues, referring to international guidelines such as GRI standards, the 17 goals of the SDGs and trends at other companies
and then evaluates the level of importance from two perspectives: the importance from
JSP Group s perspective and the importance from the stakeholders perspective.

Materiality concerning the environment (E)Materiality（１）Global

Phase 2: Deliberations by the Executive Oﬃcers Meeting

The Executive Oﬃcers Meeting deliberates on issues of high importance and in the process
selects materiality candidates, incorporating the basic concepts of the Medium-term
Business Plan Change for Growth and product perspectives.

Phase 3: Resolution by management

environmental
protection（１）Human resource

Activities for Materiality

development

The creation of shared value（２）Corporate job

Creation of shared value (CSV): Materiality concerning contributions

satisfaction

through businesses operations and products

Main Activities by JSP

SDGs（３）Climate change mitigation（４）Food and healthy living

Global environmental conservation throughResponsible Care (RC) activities.

Main Activities by JSP

SDGs

Promote human resource development byenhancing the capabilities of all employees.
Create a work environment where employeeswith diverse values respect each other andcan play an active role.
Ensure the health and safety of employees and（３）Occupational safety local residents by striving to achieve zero accidents
and zero injuries in our business activities.

（１）Global environmental
conservation（２）Plastic resource recycling

SDGs

Materiality concerning society (S)Materiality

Materiality

Main Activities by JSP（４）Structure of
Promote operational eﬃciency through theinformation systems use of digital technology.

JSP s foaming technologies
will expand the value provided

Materiality concerning governance (G)from economic value to social

Materiality

value to solve customers andsocial issues.

（１）Strengthening ofcorporate governance（５）Contribution to safety

JSP Corporate Report 2023

20 Sustainability

Main Activities by JSP
Strengthen Group-wide corporate governancethrough compliance, internal control and risk
management initiatives.

SDGs

Response to Risks and Opportunities
The JSP Group conducts annual risk assessments to identify, analyze, and evaluate risks, and aims to prevent risks from materializing as well as to reduce them.
Major risk factors that may aﬀect the JSP Group s ﬁnancial position, business results, cash ﬂows, etc. are described below. These risk factors are based on assumptions made as of June 29, 2023 and do not cover
all risks. Considering the results of the risk assessment, these risks are listed here as matters which could have an impact on the decisions of investors.

Risks related to the (external) business environment
Main contents of risks and opportunities

Our main handling measures

Continuing from the previous medium-term business plan, theongoing medium-term business plan (FY2021‒FY2023) Change for
Growth aims to expand the three business domains of Automotive
parts, Thermal insulation materials for buildings and houses, andFPD cushioning materials as a driving force for sustainable growth.
During the previous medium-term business plan period, we invested
in capacity expansion in these business areas, and in thismedium-term business plan, we will take measures for investment
recovery. However, the recovery may not proceed as planned
because of the changes in the market environment due to various
factors such as demand, economic conditions, technological trends,
and revisions to laws and regulations.

In order to respond to changes in the market environment, the
JSP Group will continue to expand into new business domains
in addition to the existing businesses. Moreover, in response to
the growing awareness of environmental issues we will
promote our transformation strategy with a focus onsustainability management and strive to provide products andservices that are compatible with a recycling-based economy.

(1) Changes in the major market environment

The JSP Group aims to reduce risks by having the Global
Business Division manage the PDCA cycle of each site as ahead oﬃce function. In addition, we will further enhance ourinternal control functions to strengthen the Group governance.

(3) Intensifying price competition
Some of our product lines have long life cycles and many ofthese products are subject to severe price competition.
Particularly in the Asian region, severe price competition is
expected to continue due to various factors such as entry of
local companies into the market.
(4) Fluctuations in raw material and fuel prices

The raw materials and fuels we use are greatly aﬀected by
ﬂuctuations in the prices of crude oil and naphtha, which canlead to signiﬁcant price changes. In our case, when raw
material and fuel costs rise sharply, this tend to cause businessperformance to decline due to problems such as delay inadjusting product prices accordingly.

Main contents of risks and opportunities(1) Securing of human resources

Our main handling measures

Securing human resources in a timely manner is becoming morediﬃcult every year due to the shortage of the working population
caused by the declining birthrate, the aging population as well as
the shortage of human resources in speciﬁc ﬁelds with highexpertise amid the digital revolution. In addition, the shortage ofhuman resources is becoming a major factor in increasing costs interms of production and logistics which may aﬀect the businessperformance of the JSP Group.

The JSP Group considers human resource development as one of
the key management issues in the basic policy Strengthen the
management base of the long-term vision VISION 2027 and will
strive to strengthen its organization further as a global corporation
by enhancing the human resource training system. In addition, we
will eliminate labor shortages by implementing measures such as
shortening production processes and automating manufacturinglines.

In the event of the spread of infectious diseases and epidemics, if
employees of the JSP Group get infected and the infection spreads
within the Company through contact between employees, etc.,
production and shipments at factories may be disrupted andoperations may be suspended for a certain period of time. In
addition, even if our factories are able to operate, there is a risk of
having to suspend operations if problems arise in the supply chain
such as when the supply of raw materials is suspended.

In order to ensure the health and safety of its employees, the
JSP Group will both continue to implement COVID-19 infection
prevention measures and implement further improvements of its
management structure.

(2) Risks related to the spread of infectious diseases (pandemics)(2) Risks related to global business development
Since the JSP Group operates widely in North America, SouthAmerica, Europe and Asia, its business activities in each region may
be aﬀected by political or economic factors, investment permits due
to environmental regulations, transfer pricing taxation issues,changes in social conditions, trends in various regulations, labor
disputes, diﬃculties in securing human resources, and exchange
rate ﬂuctuations, etc., which could have an impact on the businessresults and ﬁnancial position of the JSP Group.

Risks related to business operations(3) Intellectual property rights
The JSP Group owns a large number of intellectual property rights,
including international patent rights, and it is important to protectthese rights in order to secure future proﬁts. In the event of
infringement by other companies or disputes with other companies,
this could have an impact on our business.

The JSP Group aims to secure an appropriate proﬁt margin byfocusing on cost reduction and maintaining and expanding its
competitive advantage through a shift to high value-added
products.

(4) Quality assurance

In order to build a management base that is not aﬀected by
ﬂuctuations in raw material and fuel prices, the JSP Group willconsider formula pricing with customers for applying these
ﬂuctuations to product pricing in a timely manner and also
continue to make eﬀorts to reduce costs.

(5) Impairment of ﬁxed assets

As a manufacturer, the JSP Group is exposed to the risk of
unexpected quality defects and product liability lawsuits. Many ofour products are used as components of end products such as foodcontainers, automotive parts, and thermal insulation materials forbuildings and houses, and quality defects could lead to serious
damages for customers.
Impairment losses on ﬁxed assets held by the JSP Group may be
incurred due to a decline in proﬁtability caused by a signiﬁcantdeterioration in the business environment or a fall in market prices,which may aﬀect the business results and ﬁnancial position of the
JSP Group.

In order to avoid this risk, the JSP Group is working tostrengthen its system globally for intellectual property
management, with the controlling division, the Intellectual
Property Division leading these eﬀorts.

The JSP Group strengthens its quality assurance system by
actively promoting the acquisition of quality management
system certiﬁcation at each plant.

The JSP Group conducts regular monitoring of importantinvestments by requesting reports at major meetings attended
by senior management to conﬁrm that there are no major
deviations from the original plan.

(6) Information security and information management
As information technology continues to evolve at a high level,
we cannot completely eliminate the possibility of serious
failures of information system infrastructure or communicationlines at unexpected levels or the destruction or theft of
conﬁdential information related to management.

In order to strengthen the safety and information security of theinformation systems, the JSP Group has established related
regulations and aims to ensure the conﬁdentiality, integrity, andavailability of the information and information systems in its
possession and manages risks such as information leaks bycontinuously providing guidelines for improving the level of risk
management.
In addition, we conduct regular drills to respond to attacks on our
information systems from outside and to prepare for emergencies.

(7) Compliance and internal control

As the JSP Group expands its business globally, the changes inlaws and regulations in various regions of the world may make itdiﬃcult to comply with such laws and regulations. Accordingly,
there is a possibility that legal violations may occur in the future,and this compliance could cause new expenses and restrictions
on our business activities.

JSP Corporate Report 2023

21 Sustainability

The JSP Group recognizes the importance of compliance and otherappropriate internal controls and has established and is operatingsuch systems. Speciﬁcally, we are working to strengthen ourcompliance system by establishing and thoroughly disseminatingcode of conduct that is common to our Group companies and by
establishing a whistleblowing system that can be used by all ourGroup employees.

Environmental Activities
As a foam products manufacturer, the JSP Group has been supplying the world with products that are in line with the current trends of energy saving, resource saving, and environmental conservation. With thecorporate philosophy of Creatively and Actively Contribute to Society we are pursuing environmentally friendly foam technology with the aim of establishing and implementing a product recycling system.
In addition, we have been promoting activities related to environmental preservation and product safety under the framework of the ISO 14001 environmental management system. Since FY2011, we have joined
the Responsible Care activities of the Japan Chemical Industry Association (JCIA) to conduct activities related to security and disaster prevention, occupational health and safety, logistics safety, and dialogue withsociety. The JSP Group will continue to strive for synergy between business and the environment from a global perspective in order to pass on the irreplaceable global environment to future generations.

Environment Management Structure
Basic Principle
The green earth has nurtured
us many blessings and theprosperity we enjoy today. In
order to pass on this abundantenvironment to the next
generation, JSP is committed
to group-wide eﬀorts toconserve the global environment
as the most important issue ofour management philosophy,
Creatively and Actively
Contribute to Society .

Environment Policy•We practice corporate
activities that protect the
global environment andmanufacture environmentallyfriendly products.
•We comply with laws,
regulations and otherstandards, and strive toprotect the environment.
•We continuously improve ourenvironmental management
system and strive to enhance
our environmental performance.

ISO14001 Certiﬁed Plants

Organizational Structure of Environment Management System

JSP Corporation
Head Oﬃce, Hokkaido Plant, Kanuma Plants (Kanuma
No.1 Plant, Recycling Plant, Kanuma MF Plant, Kanuma, Kashima Plant,
Logistic Center, Kanuma No.2 Plant*1）
Yokkaichi No.1 Plant, Yokkaichi Research Center,
Yokkaichi No.2 Plant*2, Kansai Plant, and Kyusyu Plant*1*2

Divisions
President &Representative
Director

Including Tochigi No.1 Plant of JSP Molding Co., Ltd.
Including Mie Plant of JSP Molding Co., Ltd.

Chief
Administrator

JSP Group companies in Japan
Seihoku Package Co., Ltd. and Honshu PetrochemicalCo., Ltd.
JSP Group companies in Overseas
Butler Plant（USA）, Tallahoma No.2 Plant（USA）, Brazil,France, Czech Republic, Taiwan, Gimcheon Plant（Korea）, Wuxi (China), Dongguan (China), Wuhan(China)Japan

Czech Republic

China

Corporate Division

Business DivisionOﬃce Environment
ISO Administrator

Oﬃce Environment ISO
Promotion Committee

Departments

Head Oﬃce Environment
ISO Administrator

Head Oﬃce Environment
ISO Promotion Committee

Head Oﬃce departments

Hokkaido Plant
Environment ISO
Administrator

Hokkaido Plant
Environment ISO
Promotion Committee

Hokkaido Plant
departments

Kanuma No. 1 Plant
Environment ISO
Administrator

Kanuma No. 1 Plant
Environment ISO
Promotion Committee

Kanuma No. 1 Plant*1
departments

Kanuma MF Plant
Environment ISO
Administrator

Kanuma MF Plant
Environment ISO
Promotion Committee

Kanuma MF Plant*2
departments

Kanuma No. 2 Plant
Environment ISO
Administrator

Kanuma No. 2 Plant
Environment ISO
Promotion Committee

Kanuma No. 2 Plant*3
departments

Kashima Plant
Environment ISO
Administrator

Kashima Plant
Environment ISO
Promotion Committee

Kashima Plant
departments

Yokkaichi No. 1 Plant
Environment ISO
Administrator

Yokkaichi No. 1 Plant
Environment ISO
Promotion Committee

Yokkaichi No. 1
Plant*4 departments

Yokkaichi No. 2 Plant
Environment ISO
Administrator

Yokkaichi No. 2 Plant
Environment ISO
Promotion Committee

Yokkaichi No. 2
Plant*5 departments

Kansai Plant Environment
ISO Administrator

Kansai Plant
Environment ISO
Promotion Committee

Kansai Plant
departments

Kyushu Plant
Environment ISO
Administrator

Kyushu Plant
Environment ISO
Promotion Committee

Kyushu Plant
departments*1 Including the Recycling Center*2 Including the Kanuma Logistics Center*3 Including the Tochigi No.1 Plant of JSP Molding Co., Ltd.

JSP Corporate Report 2023

22 Sustainability*4 Including the Yokkaichi Research Center*5 Including the Mie Plant of JSP Molding Co., Ltd.

Environmental Activities
Environmental Conservation
Input & output (implemented in 2022)

Reduction of energy consumption

INPUT
Raw material input

Energy consumption(crude oil equivalent)

Water consumption

133,254t

35,068kl

869t

JSP Corporation sbusiness activities

Research

Development

Production

Products

Emission to the atmosphere108,328t

CO2 ････････63,033t-CO₂
NO x ･･････････16.6 t
SO x ････････････2.5 t
Dust ･･･････････3.2 t

Sales

Discharge to water areas
Amount ofwastewater ････････698t
BOD emissions････0.5t
COD emissions････2.1t
Total nitrogen
discharge ･････････1.9t
Total phosphorus
discharge ･････････0.2t

Amount of Waste Plastic Recycled
4,596tTotal waste
generated････････5,433t（kl）
40,000

180

（％）
110

170

100

（kt）
36,84836,63830,000162.7

35,04936,855

157.3
150.1

35,068

153.4

160
151.3

150

0

Trend of CO2 emissions

（％）
100
83.9

105,000
70,631

Ratio of energy intensity based on
the contribution ratio method to the previous year

10,000JSP Corporation's CO2 emissions in FY2022 decreased by approximately 4.8% (3,207 t-CO2 decrease) fromthe previous ﬁscal year. The main reasons for the improvement are the aggregation of plant operating days,
eﬀective use of waste heat, and our eﬀorts toward reducing air leaks and heat-radiation loss in the plants.
Compared to FY2013 values, emissions were reduced by approximately 21.5%.
Our foam material contributes to the reduction of greenhouse gas emissions in unseen areas ofautomobiles and homes, such as improving fuel eﬃciency when used in automobiles and improving heating
and cooling eﬃciency when used as insulation in homes.

70,000Trend of crude oil equivalent energy consumption

20,000

Reduction of CO2 emissions

88.0*Contribution ratio method: Energy consumption intensity is calculated for each product group, and the ratio of energy consumption
intensity of the entire businesses to that of the previous year is calculated in proportion to the ratio of the product group.

Waste discharge

OUTPUT（t-CO2）140,000

In FY2022, JSP Corporation s energy consumption per unit of production, calculated from the energy use
contribution ratio*, improved to 96.9% compared to the previous year, achieving our goal of improving energy
consumption per unit of production compared to the previous year. In addition, the average change in speciﬁc
energy consumption per unit of production over the ﬁve-year period was 100.3%, and the goal of improving the
average change in speciﬁc energy consumption per unit of production over the ﬁve-year period by an average of
1% or more per year was not achieved. From FY2023 onward, we will further implement the PDCA cycle forenergy conservation activities at each business site and promote the introduction of green energy.

67,36778.4

62,991

82.5

66,24078.5

63,03375
50
25

35,0000

0FY20182019
2020■ Trend of CO2 emissions (left axis)

2021
2022
GHG emissions index based on 2013 (right axis)

JSP Corporate Report 2023

0
FY2018

2019

2020

2021

2022

101.0

102.3

101.1

100.3
96.9

90
0
FY2019 2020

2021

Crude oil equivalent energy consumption (left axis)
Production volume (right axis)

Challenge for modal shift2022

5-yearaveragechange inintensity

With the aim of environmental responsiveness, energy eﬃciency, and transportation stability in logistics,
JSP Corporation is implementing modal shift to rail and ferry transportation, which emit less CO2 thantruck transportation. Modal shifts are also eﬀective for safe and stable supply in the event of roaddisruptions due to natural disasters. It has a strong presence as a secondary or tertiary means oftransportation. We will continue to actively engage in modal shift initiatives in cooperation with ourbusiness divisions.

Reduction of water usage

Reduction of landﬁll amounts

JSP Corporation carries out production activities
using a water circulation system that recycles
water without throwing it away in the
manufacturing process. In FY2022, water
consumption was lower than in FY2021 due toeﬃcient use and thorough wastewater management at each plant.

In JSP Corporation s mid-term Responsible Care plan, we
set a target for the ﬁnal landﬁll amounts in FY2022 ofcontinuing to reduce landﬁll amounts (managing landﬁll
amounts not to exceed the previous year s amounts)
and implemented systematic reduction activities at eachbusiness site. As a result, we were able to signiﬁcantly
decrease the amount compared to FY2021.

Details of maintenance plan and results of industrial waste treatment facility (incinerator)
https://www.co-jsp.co.jp/english/sustainability/e/e̲protection.html

23 Sustainability

Environmental Activities
Information Disclosures Based on TCFD Recommendations
JSP declared its support for recommendations by the Task Force on Climate-related Financial Disclosures (TCFD) in December 2021. Seeing climate change-related events as business risks, we aim to respond tothem while identifying new opportunities to enhance corporate value.
In addition, the company views the TCFD guidelines as an eﬀective framework for organically and practically promoting activities to realize a sustainable society. We will use the TCFD as a tool for dialogue with various
stakeholders. By addressing climate change and as a true global supplier, we aim to increase our social and economic value, and realize the corporate philosophy Creatively and Actively Contribute to Society .

Governance and Risk Management
The JSP Group is working to achieve sustainability through a company-wide sustainability promotion system. The Board of Directors, chaired by
the President, oversees sustainability-relatedrisks and opportunities in management activities
and plays a governance role. The ExecutiveOﬃcers Meeting is responsible for managing
sustainability-related risks and opportunities inmanagement activities, carrying out reviews andmaking decisions on responses.
The Sustainability Promotion Committee, anadvisory body to the Executive Oﬃcers Meeting,works with the Risk and Compliance Committee,
business units and the corporate divisions to
identify and assess sustainability risks andopportunities that have a signiﬁcant impact onmanagement activities, and to consider policies
and measures to be taken by the JSP Group,
reporting the results to the Executive Oﬃcers
Meeting and the Board of Directors.

Strategies
１．Contribute to climate change mitigation by further promoting environmentally friendly products
２．
Contribute to the recycling of plastic resources by promoting recycling activities
３．Contribute to climate change mitigation by reducing GHG emissions and using energy more eﬃciently
Introduction of climate change-responsive products
MIRAFOAM Λ is a high-performance, next-generation thermal insulation material
developed by JSP using its accumulated plastic foaming technologies.
By adding special technology to MIRAFOAM, JSP has succeeded in further improving its
thermal insulation performance, which was previously considered a limitation of extruded
polystyrene foam, achieving a thermal conductivity of 0.022 W/m-K.
With the promotion of higher thermal insulation houses, expectations are high for thisrevolutionary heat insulation material to make a signiﬁcant contribution to reducing GHG
emissions.

Introduction of Products that Contribute to the Recycling of Plastic Resources
ARPRO RE, expanded polypropylene made from recycled polypropylene, has been
adopted in the market. We have further expanded our recycling activities by developing
ARPRO RE OCEAN, a product made from recycled raw materials such as ﬁshing nets andother marine waste, thereby contributing to the reduction of CO 2 emissions and thereuse of marine waste. We have also developed ARPRO REvolution, a product that uses
90% or more recycled raw materials.
The picture on the right shows ARPRO 35 Ocean

JSP Corporate Report 2023

24 Sustainability

Environmental Activities
Information Disclosures Based on TCFD Recommendations
Scenario Analysis for Strategy Development
Assumptions for Scenario Analysis●Target Year: FY2030●Scenarios* : In which the global average temperature increase is limited to 1.5°
C above pre-industrial levels. In which the global average temperature increase is 4°
C above pre-industrial levels.
*The scenario analysis was conducted using SSP-1 (sustainable) and SSP-3 (regional fragmentation) from the Japanese SSP, published by the National Institute for Environmental
Studies, based on the Shared Socio-Economic Pathways (SSP), published by the Intergovernmental Panel on Climate Change (IPCC).

●Target Entity: JSP Corporation (non-consolidated)●Evaluate the impact of risks and opportunities on the entire Company s business portfolio and develop response strategies
List of transition risks and opportunities under 1.5°
C scenario
Transition risk

PolicyList of physical risks and opportunities under 4°
C scenario

Impact assessment

Physical risk

Key response

Increase in carbon prices

Increase in operating
costs

・Reduce GHG emissions through promotion of energy conservation
・Promote introduction of renewable energy
・Reduce GHG emissions through logistics optimization

Introduction of a percentage
standard for the use of recycledresources

Increase in costs causedby competition forrecycled raw materials

・Diversify recycled raw materials suppliers
・Enhance development of products using recycled raw
materials

Deterioration in earnings
of existing products

・Further promotion of material recycling
・Work on chemical recycling as an industry organization
・Assess and reduce environmental impact (GHG emissions,water consumption, etc.) and disclose information
・Promote development of bio-based products

Deterioration in earnings
of existing businesses

・Further promotion of material recycling
・Strengthen disclosure of information on GHG emission
reductions through climate change-responsive products・Strengthen disclosure of information on environmentallyfriendly products・Assess product life cycle and strengthen disclosure of information
・Enhance establishment of recycling chains

Increased competition withTechnology
competing materials

Sharp ﬂuctuations in raw
Market/ material prices andReputation formation of negative imageof fossil-based raw materials

Opportunity

Intensiﬁcation of
weather-related disasters due
to rising temperatures

Water shortage

MIRAFOAM、MIRAFOAM Λ

Expansion of the market for recycled products

ARPRO RE、ARPRO RE OCEAN、
ARPRO REvolution

Increased demand for lightweight components due toexpansion of the EV market

P-BLOCK、P-BLOCK LC

Increased demand for bio-based products

MIRABLOCK-Bio、LACTIF

Increased demand for energy-saving construction and work withshortened construction periods in eﬃcient and hub-connected cities

J-WALLBLOCK
Foam-support construction method
Triple layer cushioning structure
STYRODIABLOCKJSP Corporate Report 2023

Key response

Increased impact onplant operation

・Develop BCP・Insurance against weather-related damage
・Develop disaster prevention measures such as
ﬂood defense walls

Increased impact ontransportation

Diversify recycled raw materials supplier

Increased impact onplant operation

Enhance development of manufacturingmethods with water circulation and lower
water consumption

Opportunity
Increased demand for construction and civilengineering for recovery from damage due toweather-related disaster
Increased demand for civil engineering reinforcementand durable life extension to strengthen disasterprevention

Opportunity productIncreased demand for products that contribute to energy savings in housing

Impact assessment

25 Sustainability

Opportunity product

J-WALLBLOCK
Triple layer cushioning structure
STYRODIABLOCK

Environmental Activities
Information Disclosures Based on TCFD Recommendations
Indicators and Targets

Risks related to the Environment, Safety, etc.

JSP has drawn up a roadmap to reduce GHG emissions andachieve carbon neutrality by ﬁscal 2050. To achieve the targets,
we are going to set non-consolidated JSP s GHG emissions at
Scope 1 and Scope 2 as a KPI, and promote related initiatives.
These will include the installation of renewable energy facilities(such as for solar power generation), the purchase ofrenewable energy, and further conservation of energy.

Indicators and Targets

Targets on
GHG emission reductions

FY2030GHG emissions in
Scope 1 and Scope 2
for JSP Corporation
30% reduction

Net zero（compared to FY2013）

Roadmap for GHG emission reductions (FY2013 is taken as 100)
16.1%
reduction

21.6％
reduction

17.5％
reduction

0.2％
16.1％

21.4％

21.5%
reduction

0.2％
17.3％

30％
reduction
0.2％
0.1％

4％
4％

21.2％

Plastic has become a global social issue
as it becomes marine waste due toimproper disposal. With the focus on the
Paris Agreement, SDGs and ESG issues,
there is a movement toward plastic
recycling, conversion to other materials
and plastic-free products. Particularly inEurope, the circular economy movement
is advancing and we expect the movementof pursuing resource recycling to accelerate in the future. Inadequate or delayed
responses to these trends could have an
impact on our business.

100％

78.4％

82.5％

The JSP Group has many manufacturing
plants globally and there is a possibility ofaccidents and industrial accidents at plants,
accidents in external warehouses and in
product transportation, and damage to
production facilities due to natural disasters.
With regard to earthquake disasters which
are expected to have the greatest impact
among natural disasters, our Yokkaichi plantand other facilities could be aﬀected by amassive Nankai Trough earthquake, which isconsidered to have a high probability ofoccurring and could suﬀer signiﬁcant damage.

78.5%
70％

To virtuallyzero emission
FY20132020
2019■ GHG emission

The JSP Group ensures the safety of
production aiming for no accidents, nodisasters, and stable supply. In addition,
to deal with natural disasters such as
earthquakes, heavy rains, and ﬂoods, the JSP
Group prepares disaster countermeasure
manual and business continuity plan
(BCP), operates an employee safety
conﬁrmation system, and conducts
disaster drills.

(2) Environmental issues with plastics

22％

83.9％

Main response of JSP(1) Natural disasters and accidents
FY2050Assumptions of the Roadmap●Scope: GHG emissions of non-consolidated JSP at Scope 1 and Scope 2●GHG reduction target: Calculated based on the Act on the Rationalization etc. of Energy Use.

Base year

Main contents of risks and opportunities

2022
2030 (Target)
2050
2021
■ Energy conservation activities■ Purchase of renewable energy■ Installation of renewable energy facilities (solar power generation)

JSP Corporate Report 2023

26 Sustainability

The JSP Group recognizes that theenvironmental issue of plastics is one of theimportant issues (materiality) to beaddressed and is actively promoting eﬀorts
to contribute to society throughenvironmentally friendly products, as well as
initiatives such as material and thermal
recycling of plastics, and use of recycledmaterials.
In December 2021, the JSP Groupdeclared to support the recommendationsof the Task Force on Climate-related
Financial Disclosures (TCFD). Throughscenario analysis, we will reduce the risks
posed by climate change and promotestrategies that are in line with the Groupʼsbusiness operations so that risks can beturned into business opportunities.

Social Activities
Communication with Stakeholders
The JSP Group recognizes the importance of building mutual trust through dialogue with all stakeholders, including customers. We strive to understand the issues that the society faces based on the opinions
and evaluations received through engagement with customers, business partners, shareholders and investors, dialogue with local communities and governments and communication with employees and job
applicants. Through various media we disclose suﬃcient information to all stakeholders at an appropriate time by providing shareholder/investor information and various news releases. Through communication with a wide range of stakeholders, we aim to be a company that is trusted by society.

Stakeholders

Objective

Actions
Direct support throughproduct sales

Customers

To build long-term
relationships with ourcustomers by listening totheir opinions andproviding products andservices that meet theirneeds.

Suppliers

To promote sustainableprocurement throughour business partners.

Frequency

Inquiries
Customer satisfaction
survey based on
ISO9001

1/yearDirect support throughproduct purchasing

Daily

As needed

Financial Results Brieﬁng

2/yearIR individual coverage

As needed

Information disclosurein accordance withlaws, regulations andstock exchange rules

As needed

Reports for shareholder
communication

2/yearInformation provisionon the website andpublication of various
reports

Frequency
As needed

Community &Government

Factory tours

As needed

Participation incommunity events

As needed

Training by job level

As needed

Interviews forobjective management

2/yearCompany newsletter

4/year1/yearInquiries

Shareholders &Investors

Actions
Various community
contribution activities

As needed

General Meeting of
Shareholders

To enhance our corporate
value through sustainablegrowth by disclosing fair
information to meet the
expectations of ourshareholders andinvestors.

Objective
To interact with the local
community and contributeto the development of theregion through participation
in local events andcommunity involvement.

Daily
As needed

Inquiries

Stakeholders

Employees

As needed
Job Seekers

JSP Corporate Report 2023

27 Sustainability

To develop humanresources and create awork environment inwhich each employee candemonstrate their fullpotential. To maintain thehealth of our employees
and respect their diversity.

To secure excellent
human resources, achievesustainable growth, andincrease corporate value
by disclosing informationand holding information
sessions for those whowish to join our company.

Intranet operation

Daily

Whistleblowing

As needed

Brieﬁngs on personnelrelated systems, includingsalaries and bonuses,
and meetings to
exchange opinions

1/year

Health and Safety
Committee

1/monthHead Oﬃce HealthCommittee

1/monthInformation provisionon the website

As needed

Company information
sessions and recruitment
guidance

As neededSocial Activities
Partnership Building Declaration

Quality Assurance
Quality Policy
・We create products that meet the needs of our customers and contribute to the sustainable
development of our customers and society.
・We continuously improve the quality management system.

In December 2022, JSP announced our Partnership Building Declaration in support of the purpose of the
Future Partnership Building Promotion Council promoted by the Cabinet Oﬃce and the Small and Medium
Enterprise Agency. As we work towards building new partnerships, we pledge to collaborate and coexist in
mutual prosperity with all business partners in the supply chain and those who seek value creation.
JSP has speciﬁed the following individual items in conjunction with the Declaration.

<Individual Items>●We will actively utilize open innovation and work to create new businesses.
●We agree with the purpose of the White Logistics promotion campaign and strive to build
appropriate relationships with our business partners.
●We published the JSP Group Basic Procurement Policy and strive to conduct transactions that do
not involve personal interests based on fair, equitable, and free competition.

Procurement
Basic approach to procurement operations
While economic development is driven by globalization, environmental issues such as climatechange are causing various impacts on the planet, animals and plants, including on our own
lives. In addition, the increasing importance of addressing social problems, including humanrights issues, in the globalized corporate supply chain requires companies to be more committed
to what is ethically right than the law requires. Based on our corporate philosophy of Creatively
and Actively Contribute to Society , we contribute towards the realization of a sustainable
society not only by providing environmentally and socially friendly products, but also by giving
due consideration to the environment and society through our global procurement activities.
As part of this, the JSP Group Basic Procurement Policy has been established as follows to
promote sustainable procurement activities throughout the supply chain.

Voluntary Action Declaration for White Logistics Promotion Campaign
JSP Group Basic Procurement Policy１．
We will conduct transactions based on fair, equitable and free competition, open to
domestic and foreign suppliers, and with transparent procedures.
２．
In our procurement activities, we will comply with the laws, regulations, social norms ofeach region and country.
３．
We will conduct optimal procurement activities based on economically rational methods andstrive to build and maintain sound business relationships with suppliers with the aim of mutual
development.
４．
We will strive to implement procurement activities that put customer satisfaction ﬁrst.
５．
In selecting suppliers, we will take the followings as important points, and will also
consider their sustainability activities.

In December 2022, we submitted a Voluntary Action Declaration in support of the White Logistics
promotion campaign advocated by the Ministry of Land, Infrastructure, Transport and Tourism, theMinistry of Economy, Trade and Industry, and the Ministry of Agriculture, Forestry and Fisheries. We
recognize that securing a sustainable and stable supply of logistics necessary for business activities isa management issue. Aiming to realize highly productive logistics and work style reforms, we will
foster mutual understanding with business partners, logistics companies, and other stakeholders.
Based on these eﬀorts, we are working to improve logistics.

（１）
Respect human rights and eliminate discrimination. Not complicit in human rights abuses.
（２）
Apply fair labor conditions, maintain safe workplace environment and eliminate forced labor and child labor.
（３）
Recognize environmental issues and work to resolve and address them.
（４）
Have a stable management base and appropriate levels of quality, price, and delivery time, and make eﬀorts tomaintain and improve them.
（５）Comply with laws, regulations, and social norms.

JSP Corporate Report 2023

28 Sustainability

Social Activities
Approach and Activities on Human Capital
The JSP Group regards human capital as a source for thecreation of economic and social value. As indicated in ourmanagement policy Deliver with WOW! , Be excited in ourwork will become a creative force for action, and by
fulﬁlling Inspire customers and consumers and Deliver
satisfaction to shareholders and the community , we aim to
be A Global Company for Global Society , which is ourlong-term vision, VISION 2027, and realize our corporate
philosophy Creatively and Actively Contribute to Society .
List of Indicators and Targets Related to Human Capital➡ https://www.co-jsp.co.jp/english/sustainability/s/s̲humancapital.html

Employee Assistance Program

Diversity
JSP promotes diversity and inclusion, aiming for a workplace where
employees respect each other and are assured of psychologicalsafety so that they can continue to play active roles.

Promotion of Women s Participation and Advancementin the Workplace※
Promoting Active Participation of Senior Human Resources*
Facilitation for the Employment of
Persons with Disabilities**Please refer to the following URL.
➡ https://www.co-jsp.co.jp/english/sustainability/s/s̲diversity.html

Human Resource Development
Strategy
The JSP Group s human resources policy is to promote diversity in humanresources. On a non-consolidated basis, we are working to promotewomen to management positions, with the target of achieving 10%
women in management positions for JSP Corporation by FY2025. In
addition, Area Career-track Work System was introduced in FY2021 torealize both the wishes of employees who want to work locally and the
pursuit of diversity in the human resources who will lead the company inthe future with the aim of converting general staﬀ to career-track staﬀ. We
have long been actively working on the employment of people withdisabilities, particularly in Group companies in Japan. We are also working
to further strengthen mid-career recruitment in the highly specialized
areas. Furthermore, as part of our human resources development policy,
we promote human resources development and run training system
actively. We provide a range of training programs such as induction
training for new graduates and mid-career recruitment and training early
career staﬀ and training for senior staﬀ. As we believe that managersʼ
self-innovation is essential for a diverse people to work with excitement
and play active roles, a range of training programs are oﬀered including
training for new managers and management skills development training
for middle and senior managers.
As a part of company environment development policy, the JSP Grouppursues the organizational culture in which each employee feels a senseof fulﬁlment in work in order to Be excited in our work . We haveintroduced a self-assessment system to enable employees to broaden
their scope of activities, and we strive to improve engagement by
allocating personnel in consideration of their own career paths. We arealso working to improve the rate of men taking paternity leave, with theaim of making it easier for them to balance work and childcare. In
addition, as a part of eﬀorts to ensure the health and safety of ouremployees, we are committed to workplace health and safety, occupational safety at the plants and mental health care for our employees.

JSP will work to strengthen recruitment and human resource
development for business creation and provide opportunities formutual growth between the company and employees.
List of training by job rank in FY2022➡ https://www.co-jsp.co.jp/english/sustainability/s/s̲training.html

Career Support
Self-assessment System
This system allows employees to report their future career
aspirations and daily feelings to the company and is an opportunity
to communicate their opinions and aspirations to the company inorder to improve openness and unify intentions within the company.

Support for Acquisition of Qualiﬁcation Necessary
for Operations
JSP supports the acquisition of qualiﬁcations necessary for operations,
including the cost of acquiring qualiﬁcations and the payment ofqualiﬁcation allowances to those registered for oﬃcial qualiﬁcations.

Work Life Balance
We believe that maintaining physical and mental health isfundamental for each employee to work with excitement andmotivation. JSP is making various improvements to the work
environment.
➡ https://www.co-jsp.co.jp/english/sustainability/s/s̲work.html

Regular Health Check

JSP carries out health check-ups every year and those with ﬁndings arerecommended to undergo re-examination or a full medical check-up. A
follow-up is conducted through interviews with occupational physicians.

JSP Corporate Report 2023

29 Sustainability

JSP carries out stress checks via the internet every year and various
follow-ups are conducted based on the results. This content covers not only
consultations regarding health and careers but also a wide range of mental
health issues, and we have built a system whereby employees can easily
seek advice to help them achieve a better mental and physical balance.

Flex-time System

JSP has introduced a ﬂextime system to accommodate each
employee s personal circumstances and to enable them to exercise
their abilities in the workplace, depending on their duties. By
allowing employees to work ﬂexibly outside of their core work
hours, employees are able to improve work eﬃciency and diversify
their working styles. Active use of the system also helps to reduce
overtime work and promote health and wellness.

Controlling Long Working Hours

JSP sets its own standards for overtime hours per month, which
are stricter than the upper limit of working hours under the Act
on the Establishment of Relevant Laws to Promote Workplace
Reform in Japan. If any employee exceeds the overtime hours, thePersonnel Aﬀairs Department sends a reminder to the employee
through the person in charge of the department. The person in
charge and the employee work together to control long working
hours and strive to comply with our standards.

Childcare Leave and Nursing Care Leave

To enable employees to balance work and family life, JSP oﬀers
maternity leave, childcare leave, nursing care leave systems, as well
as shorter working hours for childcare and nursing care. In particular,
to create an environment that makes it easier for employees toreturn to work after childcare leave and to help them cope withchanges in their new working environment, we allow employees totake “childcare leave for familiarization within one month from thedate the child starts daycare.

Promotion of Taking Paid Leave

JSP is actively promoting the acquisition of paid leave for the purpose of
improving the physical and mental health and motivation of employees
and improving labor productivity. Employees are granted between 3 and12 days in their ﬁrst year of employment, depending on when they join
the company, and up to 20 days in their second and subsequent years,
depending on the length of service. In addition, up to 30 days can beaccumulated in addition to paid leave in case medical treatment isrequired due to illness or injury.

Area Career-track Work System

This is a system for career-track employees who are not subject torelocation. By converting positions from technical or general staﬀ to areacareer-track positions, employees can expand the scope of the job andmeet the needs of diverse work schedules, such as changing lifestyle stages.

Social Activities
Social Contribution Activities
1. Received a letter of appreciation from the Japanese
Red Cross Society Tochigi Branch for cooperationin blood donation activities at JSP plants

2. Providing tableware to a children s cafeteria

3. Yokkaichi No.1 Plant and Yokkaichi Research Center
received a letter of appreciation for
donating emergency foodEvery year, JSP participates in blood donation activities by the Japanese
Red Cross Society. In 2022, we cooperated in blood donation activities atthe Hokkaido Plant and Kanuma Plants. Prior to starting activities, we held
activities in our oﬃces to encourage cooperation and raise awareness forblood donation. The number of participants is increasing every year. The
Kanuma Plants received a letter of appreciation from Tochigi Branch of theJapanese Red Cross Society for Blood Donation Merit Award 2022 at the
Tochigi Prefectural Hall on July 25, 2022.
This letter of appreciation is presented to companies, organizations, andindividuals that cooperate with the activities of the Japanese Red Cross
Society. The Kanuma Plants long history of cooperation in blood donation
activities and implementation of activities during the COVID-19 pandemic
were highly evaluated. We will continue to cooperate in blood donation
activities as part of our social contribution activities in order to realize ourcorporate philosophy "Creatively and Actively Contribute to Society."

In April and July 2022, JSP Packaging Corporation, a Group company that
manufactures and sells food containers, provided food containers for use at
Kodomo Shokudo Machi no Gohanya san (a children s cafeteriaorganization). This organization provides food support to needy households
such as households on child rearing allowances and welfare households inKonosu City, Saitama Prefecture.
These activities are operated by the NPO Niko Niko mama s. The
activities are held at a cafeteria in Konosu City, and are open toparticipation by anyone. The cafeteria serves local children and theirguardians so that they can enjoy meals while interacting with others. The
activities also include dietary education by a registered dietician forconveying the importance of food. A total of about 300 people participatedin two events in which JSP Packaging provided food containers.

The Yokkaichi No.1 Plant and the Yokkaichi Research Centerin Mie Prefecture stockpile emergency food in preparation for
emergencies. As part of activities, we sequentially replace
emergency food which is nearing its expiration date, and we
donate emergency food that is close to the expiration date.
By selecting donation recipients using matching software
operated by Mie Prefecture, we were able to deliver
emergency food to a wide range of people, includingchildren s cafeterias, support for the needy, and volunteer
activities. In October 2022, we received a letter of appreciationfrom Mie Prefecture for these activities.

4. Donated 100,000 sheets of paper to support French schools
In December 2022, JSP International S.A.R.L., a Group company in France, donated 100,000 sheets of paper
to support schools in Estrées-Saint-Denis, with the aim of promoting the growth and education of children.
This meaningful donation not only contributes to the local community, but also provides an excellent
opportunity for an experience of Deliver with WOW! through eﬀective learning opportunities for children.
JSP International S.A.R.L. also received a message of gratitude from the mayor of Lucette. This message wasintroduced in the local newspaper.
Afterwards, we received letters of thanks from the children. The letters are now displayed in the plantoﬃce.

JSP Corporate Report 2023

5. Status of main activities
Number of
projects

Cost(thousand yen)Social welfare

540

Provision of food containers, campaign to collect bottle
caps for use as proceeds to provide vaccines, etc.

Education/social education

9744

Accepting interns and sponsoring educational events

Environment

1

1,680

Participating in environment-related exhibitions

Community activities

15

1,539

Volunteering for blood donations, holding ofcommunity cleanup activities

Disaster relief

1100

Holding donation activities for ﬁre victims

Others1

10

Holding donation activities for the Japanese Red
Cross Society

Classiﬁcation

30 Sustainability

Main contentsCorporate Governance As of July 3, 2023
Basic Information on Corporate Governance Structure

Basic Philosophy on Corporate Governance
Based on the recognition that the most important management issue is to continue sustainable businessgrowth and increase corporate value, JSP has adopted the corporate philosophy of Creatively and Actively
Contribute to Society, and aims for the management to earn the trust and satisfaction of all stakeholders asa globally competitive company that places emphasis on safety and environmental responsiveness.
JSP believes that eﬀective functioning of corporate governance and thorough pursuit of management
eﬃciency, transparency, and soundness are essential issues to achieve this objective.

Basic Policy(1) The Company has adopted a Company with an Audit & Supervisory Board system where theBoard of Directors makes decisions on the most important matters of the Company and strives
to create an environment for appropriate management judgment in such decision-making.
(2) The Company shall respect the rights and positions of all stakeholders and strive to cooperatewith them appropriately.
(3) The Company shall strive to ensure transparency to all stakeholders through appropriate
information disclosure.
(4) As a Company with an Audit & Supervisory Board , the Company shall appoint independent outside directors
and auditors and ensure sound management practices by monitoring management in line with the Company.
(5) The Company shall engage in constructive dialogue with shareholders.

Organizational form

Company with an Audit & Supervisory Board

Composition of the Board of Directors
Term of oﬃce for the Board of Directors
Chair of the Board of Directors
Voluntary Advisory Board

12 including 4 Outside Directors
1 yearPresident & Representative Director
Nomination Advisory Board, Remuneration Advisory Board,Special Committee on Governance, 5 members (4 Outside Directors,
President & Representative Director)

Composition of the Audit & Supervisory Board

4 including 2 Outside Audit & Supervisory Board members

Number of independent oﬃcers

6

Business execution system
Management Committee

Executive oﬃcer system
12 members (President & Representative Director,
2 Executive Vice Presidents, 9 Senior Executive Oﬃcers)
20 members (Representative Director and President, 19 Executive Oﬃcers)

Executive Oﬃcers Meeting

Skills Matrix

Name

Corporate Governance Structure

Yasuo Oikawa

Consult
Selection andRemoval Supervision

ReportDirective and Supervision
Executive Oﬃcers
Meeting

Business
Administrative
Divisions
Divisions
Cooperation
Group companies
Outside Director

Audit

Cooperation

ReportPresident & Representative Director

Director

Audit

Nomination Advisory Board
Remuneration Advisory Board
Special Committee on GovernanceConsult

Management
Committee

Kosuke UchidaAppointment/Dismissal

Board of Directors
12 Directors

ReportReportInternal Audit
Department
Audit

ReportRisk and Compliance
Committee

Guidance and Supervision
Report*As a whistleblower system, JSP has set up an external contact point for reporting.

Audit & Supervisory Board member

Yasushi Komori
Director

Yoshikazu ShimaTomoyuki Kiura
Yoshihisa Ishihara
Hisashi Shinozuka

Outside Independent

Takayuki Ikeda

Outside Independent

Kiyoshi Itou

Outside Independent

Ryoko Sugiyama

Outside Independent

Audit & Makoto Ogawa
Supervi- Yoshiaki Sawada
Outside Independentsory
HidekiHonda
Board
member Yoshiyuki Kawakami Outside Independent
Up to four areas of expectation for each person are listed.
The above list does not represent all the knowledge and experience possessed by each person.
Reference: Please see the our website for details regarding corporate governance.
➡ https://www.co-jsp.co.jp/english/sustainability/g/g̲basic.html

Outside Audit & Supervisory Board member

JSP Corporate Report 2023

Production
Technology& Quality
Control

Koichi Wakabayashi

General Meeting of Shareholders

Appointment/Dismissal
ReportAccounting
Audit & Supervisory
AuditorCooperation
Board
Audit
4 Audit & Supervisory
Board members

R&D

Tomohiko Okubo

JSP has adopted the above Corporate Governance System based on our judgment that it is optimalfor maintaining and improving the eﬃciency, transparency, and soundness of management, taking
into consideration the Companyʼs overall corporate size and other factors.
Appointment/Dismissal

ESG
Personnel
Business
Aﬀairs &Administra- Business (EnvironFinance & Development,
StrategytionSociety, Accounting
ment&& Globalof HumanManage- Marketing Governance)
Resourcesment

31 Sustainability

Corporate Governance
Activities of Major Meeting Bodies and Advisory Committees
Board of Directors
Meetings of the Board of Directors are chaired by President & Representative Director Tomohiko
Okubo. The board consists of 12 Directors, including 4 Outside Directors. Meetings are also attended
by 4 Audit & Supervisory Board members, including 2 Outside Audit & Supervisory Board members. In
principle, the board meets once a month to deliberate and make decisions on matters stipulated inlaws, regulations, and the Articles of Incorporation, and as well as on important management matters.
The board also supervises the Company s overall business and management.
In order to have thorough discussions at the Board of Directors, outside oﬃcers are provided withmaterials regarding the background, purpose, and content of proposals prior to meetings of the Board of
Directors. Also, as necessary, suﬃcient explanations are provided by persons making proposals.

Audit & Supervisory Board
Audit & Supervisory Board members attend meetings of the Board of Directors and other importantinternal meetings, exchange opinions with the Representative Director, conduct interviews with theemployees in charge of each business, investigate major oﬃces and subsidiaries, and engage in otheractivities to audit the legality and validity of the Group s operations. Audit & Supervisory Board
members also exchange opinions periodically and as necessary with accounting auditors and theInternal Audit Department in an eﬀort to strengthen mutual cooperation.

Nomination Advisory Board

Management Committee
The Management Committee is chaired by President & Representative Director Tomohiko Okubo. The
committee is composed of 2 Executive Vice Presidents and 9 Senior Executive Oﬃcers. 2 full-time Audit& Supervisory Board members also attend meetings of the committee. In principle, committee meetings
were held once a month to discuss basic management policies, measures to improve corporate
structure, and other important management matters. In particular, during the current ﬁscal year, thecommittee deliberated on the progress of the medium-term business plan and future challenges.

Executive Oﬃcers Meeting
The Executive Oﬃcers Meeting is chaired by President & Representative Director Tomohiko Okubo
and is composed of 19 Executive Oﬃcers. 2 full-time Audit & Supervisory Board members also attend
the meetings. In principle, the meeting was held twice a month to discuss important management
matters and execute business operations based on quick judgments that accurately reﬂect changes
in the business environment. Additionally, the meeting monitored the planning, drafting, and progressof the Company s sustainability management.

Risk and Compliance Committee
The Risk and Compliance Committee is chaired by the General Manager of the General & Personnel
Aﬀairs Division. In principle, the committee meets once a month. The committee manages compliance and risks across the Group, and serves as a support function for management decisions toensure that the Board of Directors takes appropriate risks. 2 full-time Audit & Supervisory Board
members also attend committee meetings.

The Nomination Advisory Board is chaired by the lead Outside Director, Hisashi Shinozuka. The board
is composed of 5 people, including 4 Outside Directors and the President & Representative Director.
When selecting candidates for Directors and Audit & Supervisory Board members, in response to
consultation from the Representative Director, the Nomination Advisory Board selected candidates
who are appropriate for the position and have the necessary experience, knowledge, and abilities tocreate medium-to long-term corporate value. The board deliberated if candidates were qualiﬁed to
fulﬁll their responsibilities in light of the selection criteria and skill matrix, and submitted a report the
President & Representative Director.

Remuneration Advisory Board
The Remuneration Advisory Board is chaired by the lead Outside Director, Hisashi Shinozuka. The board iscomposed of 5 people, including 4 Outside Directors and the President & Representative Director. In regard to
remuneration for each Director, in response to consultation from the Representative Director, the board
comprehensively considered factors such as the business environment, business conditions, business results,
ﬁnancial situation, and each Director s contribution, etc., and reported to the President & Representative Director.

Special Committee on Governance
The Special Committee on Governance is composed of 3 or more independent Outside Directors. By
ensuring fairness, transparency, and objectivity in transactions between the Company and its parent
company group, the Company aims to appropriately protect the interests of minority shareholders andenhance corporate governance. In response to inquiries from the Board of Directors, the Company
deliberated on transactions with the parent company group and provided a report.

JSP Corporate Report 2023

32 Sustainability

Corporate GovernanceEvaluation on Eﬀectiveness of the Board of Directors
JSP conducts an annual questionnaire to Directors and Audit & Supervisory Board members for assessing
the eﬀectiveness of the Board of Directors. The Board of Directors analyzes and evaluates the results of
the questionnaires and the opinions of the independent Outside Directors and Outside Audit & Supervisory Board members with respect thereto. (Article 26 of the Corporate Governance Guidelines)
When evaluating the eﬀectiveness of the Board of Directors in ﬁscal 2022, we conducted a survey of
all Directors and Audit & Supervisory Board members in March 2023. We then discussed the results at
the Board of Directors meeting held in June 2023.
For a summary of the most recent evaluation of the eﬀectiveness of the Board of Directors, pleaserefer to the Corporate Governance Report, [Supplemental Principle 4-11-3 Analysis and Evaluation of
the Overall Eﬀectiveness of the Board of Directors].
https://www.co-jsp.co.jp/sustainability/g/g̲system.html(Japanese only)

Training for Directors and Audit & Supervisory Board Members
The Company has established a training policy for Directors and Audit & Supervisory Board members toprovide them with ongoing opportunities to acquire the knowledge necessary to perform their duties.
(Article 28 of the Corporate Governance Guidelines)

Training Policy for Directors and Audit & Supervisory Board Members
1. When a Director or Audit & Supervisory Board member is newly appointed, information necessary for the
execution of duties by the oﬃcer shall be provided as appropriate through lectures and training by outside experts.
After assuming oﬃce, training on management issues and legal revisions shall be provided on an ongoing basis.
2. When an independent Outside Director or Outside Audit & Supervisory Board member is newly appointed, the person
shall be encouraged to understand the Companyʼs management philosophy and corporate culture and shall be
provided with an inspection tour of major business locations and an explanation of business activities. After assuming
oﬃce, the Company shall continue to provide information on management issues and other matters as appropriate.
3. For the business plan and annual budget policy, an annual policy meeting will be held every ﬁscal
year to provide an opportunity to share information throughout the company.

Information Provision and Support System for
Directors and Audit & Supervisory Board Members
The Company shall establish a support system to ensure that Directors and Audit & Supervisory Board
members have access to the information necessary to eﬀectively fulﬁll their roles and responsibilities.
(Article 27 of the Corporate Governance Guidelines)
1. The secretariat of the Board of Directors shall collect and provide information as necessary for Directors and Audit& Supervisory Board members to perform their duties.
2. Audit & Supervisory Board members may request the appointment of employees to assist them in their audit duties, andwhen such employees assist them in their audit duties, shall not be subject to the direction and orders of Directors, etc.

Remuneration
Remuneration for directors (excluding part-time directors) is conﬁgured as base compensation andreserve-type remuneration to be paid upon retirement.
Base compensation comprises ﬁxed compensation, short-term performance-linked compensation, and executive

JSP Corporate Report 2023

shareholder association-contributed compensation. Among the base compensation, ﬁxed compensation and executive
shareholder association contributed compensation are determined according to the responsibilities of each position.
The compensation for part-time directors and Audit & Supervisory Board members comprises ﬁxed
compensation in the form of base compensation.
The President & Representative Director, authorized by the Board of Directors, prepares the proposed
amount of remuneration for each director for the current ﬁscal year within the remuneration limit resolved
at the General Meeting of Shareholders, in accordance with the Companyʼs Executive Remuneration
Regulations, taking into consideration the business environment, operating conditions, performance,
ﬁnancial condition, each individualʼs contribution and other factors. The President & Representative Director
consults the Remuneration Advisory Board, which is composed of the Representative Director and theOutside Directors and chaired by the top Outside Director, on the proposed amount of compensation.
The Remuneration Advisory Board then reports to the President & Representative Director on the proposed amountof remuneration discussed. The President & Representative Director determines the amount of remuneration for eachdirector based on the report of the Remuneration Advisory Board. The remuneration for each Audit & Supervisory
Board member is determined by consultation among the Audit & Supervisory Board members within the remuneration
limit resolved at the General Meeting of Shareholders, taking into consideration the contribution of each individual.
Please refer to the following for matters regarding performance-linked compensation.
1. Details of performance indicators selected as the basis for calculating the amount of perfor
mance-linked remuneration, etc.
Performance-linked compensation consists of short-term performance-linked compensation as part of baseremuneration and midterm performance-linked compensation as part of reserve-type remuneration to be paid
upon retirement. For both types of remuneration, performance indicators (consolidated net sales, consolidated
operating income, consolidated operating margin, and net income attributable to shareholders of the parent
company) determined by the Board of Directors are used as the basis for calculating the amount of remuneration.
2. Reason for selection of the relevant performance indicators
The reason for selecting these indicators is that they are important management indicators showing
the growth potential and proﬁtability of the Company.
3. Method of calculating the amount of performance-linked compensation, etc.
Short-term performance-linked compensation is determined by the performance ratio during the subject
period against the base value of the above performance indicators determined by the Board of Directors.
The reserve-type remuneration to be paid upon retirement is determined as a midterm performance-linked
compensation by calculating the cumulative amount of performance indicators for the relevant consolidated
medium-term business plan period at the end of the ﬁscal year as a percentage of the performanceindicators achieved during the same period of the previous consolidated medium-term business plan.

Director and Audit & Supervisory Board member remuneration totals for ﬁscal 2022

Position

Total amount of remuneration by type (Millions of yen)
Total
Base compensation
remuneraReserve-type
Executivetion
remuneration
Short-term
Fixedshareholder(Millions of
to be paid uponcompensa- performance-linked
association-contributyen)
retirementcompensationtion
ed compensation

Number of
eligibleoﬃcers(people)Directors(excluding Outside Directors)

258

209

2

16

30

8

Audit & Supervisory
Board members(excluding Outside Audit &Supervisory Board members)

15

15

-

-

-

2

Outside oﬃcers

56

56

-

-

-

6

33 Sustainability

Corporate GovernanceInternal Control System & Risk Management Structure(3) The Company shall decide important individual management issues related to businessexecution at the Executive Oﬃcers Meeting, which in principle is held twice a month.

Basic Policy on the Development of Internal Control Systems(4) The Company shall formulate management plans on a consolidated basis and provide
management control and guidance to the Group companies in order to realize such plans.
(5) The Group companies shall, in principle, belong to their respective businessdivisions or corporate divisions in terms of organization and their businessexecution shall be under the direct control of the business divisions or corporate
divisions to which they belong.

In accordance with the Companies Act and the Ordinance for Enforcement of the Companies Act, JSP
Corporation has established the following basic policy for the development of internal control systems. We
will review this basic policy as needed and strive to maintain more appropriate internal control systems.

1. System to ensure thatthe execution of duties
by directors andemployees of theCompany and bydirectors and employeesof the Companyʼs
subsidiaries complies
with laws andregulations and the
Articles of Incorporation

２．
System for storage andmanagement of
information related tothe execution of duties
by the Companyʼs
directors(1) The Company shall establish the JSP Group Corporate Action Guidelines and the
JSP Group Code of Conduct common to the Company and its subsidiaries(hereinafter referred to as the Group companies and together with the Company,
the JSP Group ), and shall ensure compliance with laws and regulations andsocial ethics as a prerequisite for its corporate activities and shall thoroughly adapt
to social demands.
(2) The Company shall establish a Risk and Compliance Committee to oversee
compliance across the JSP Group, which shall play a central role in providing
education and training to the oﬃcers and employees of the JSP Group.
(3) Audit & Supervisory Board members and the Internal Audit Department shall work
together to audit the status of compliance of the JSP Group.
(4) For any legally questionable conduct, the Company shall establish a whistleblower
consultation service as a means for the JSP Group executives and employees todirectly provide information, investigate the details, and consider and implement
measures to prevent recurrence.

4. System to ensure theeﬃcient execution ofduties by the Companyʼs
directors and directorsof the Group Companies(1) The Internal Audit Department of the Company shall periodically audit the operationsof the Group companies to ensure the appropriateness of their operations.

6. Matters concerning
employees to assist theCompanyʼs Audit &Supervisory Board
members in theperformance of their duties(1) Audit & Supervisory Board members may request the appointment of employees
to assist them in their audit duties as necessary.

(2) Directors and Audit & Supervisory Board members shall have access to these documents,
etc. at all times in accordance with the Document Management Regulations.
(3) Matters required to be disclosed by law or stock exchange regulations shall bepromptly disclosed in accordance with the Information Disclosure Regulations.

7. System for reporting to
the Companyʼs Audit &Supervisory Board
members(2) The Risk and Compliance Committee shall take the lead in establishing various
rules and regulations for risk management and strengthening the JSP Groupʼs risk
management system.

(2) The Company has adopted an executive oﬃcer system, a division system forbusiness divisions, and a corporate division system for corporate sectors as its
business execution system and is working to improve the eﬃciency of businessexecution by delegating execution authority and performance responsibility.

JSP Corporate Report 2023

(3) The Company shall require the Group companies to obtain prior approval from orreport to the Company on important management matters.

(2) Employees who receive instructions necessary for audit duties from Audit &Supervisory Board members shall not be subject to the direction and orders of
directors, with respect to such instructions. The transfer, evaluation and disciplinary
action, of such employees shall be discussed with the Audit & Supervisory Board.

(2) Audit & Supervisory Board members shall attend meetings of the Board of
Directors and other important meetings of the Company and each Group Company
to collect information on important management matters of the JSP Group.
(3) The Risk and Compliance Committee shall report to the Audit & Supervisory Board
members the status and content of reports received from the oﬃcers and employeesof the JSP Group through the Whistleblowing and Consultation Desk. The method ofreporting (reporter, recipient, and timing of reporting) shall be determined throughconsultation between the directors and the Audit & Supervisory Board members.
(4) Any disadvantageous treatment of a person who reports to the Audit & Supervisory Board members by reason of such report shall be prohibited and all oﬃcers andemployees of the JSP Group shall be informed of such prohibition.

(3) In the event of a disaster or other unforeseen event, the department in charge ofcrisis management shall respond in accordance with the rules and manuals
stipulating emergency responses.
(1) The Board of Directors of the Company shall meet once a month in principle to
make decisions on basic management policies, matters required by laws andregulations, and other important management matters. The Company shall also
hold a Management Committee consisting of representative directors andexecutive oﬃcers at the senior executive oﬃcer level or above to discuss importantmanagement matters in advance.

(2) The Company shall enter into a basic agreement on capital and business alliancewith the parent company to ensure autonomy in the management of theCompany. In addition, the Company shall endeavor to ensure the appropriateness of transactions with the parent company by, for example, maintaining thesame level of terms and conditions as those of transactions between independent parties.

(1) Directors and employees shall report to the Audit & Supervisory Board, in
accordance with the Regulations of the Audit & Supervisory Board, matters thathave a material impact on the JSP Group as well as the status of internal audits
conducted by the JSP Group, in addition to legally required matters.

(1) In accordance with the Document Management Regulations, information related tothe execution of duties by directors shall be recorded and stored in documents orelectromagnetic media (hereinafter referred to as documents, etc. ).

(1) The Risk and Compliance Committee shall be responsible for the overallmanagement of the JSP Groupʼs risks and shall identify and analyze risks.
3. Regulations and othersystems for managing
the risk of loss of the
JSP Group

5. System for reporting to theCompany on matters related
to the execution of duties byDirectors and others of theCompanyʼs subsidiaries andother systems to ensure theappropriateness ofoperations of the corporategroup consisting of theCompany, its parent
company and subsidiaries.

8. Other systems to ensurethat the audits of the
Audit & Supervisory
Board members are
conducted eﬀectively(1) The Audit & Supervisory Board shall provide regular opportunities for individual
hearings with the persons responsible for each business and other relevant personnel.
(2) The Audit & Supervisory Board shall hold regular meetings to exchange opinionswith representative directors and audit ﬁrms, respectively.
(3) The Audit & Supervisory Board shall set aside a certain amount of budget every
year to pay expenses incurred in the performance of their duties.

9. System to ensure reliabilityof ﬁnancial reporting

The JSP Group shall establish a system to ensure the reliability of ﬁnancial reporting,continuously evaluate the system and immediately correct or improve any deﬁciencies.

10. System for eliminating
antisocial forces

As a member of society, the JSP Group shall have no relationship with antisocial forces or groups
that threaten the order and safety of civil society and shall take a ﬁrm stand against them.

34 Sustainability

List of Corporate Officers As of June 29, 2023
Board of Directors, Audit & Supervisory Board Members
Yasushi Komori
Tomohiko Okubo

President &Representative Director

Director, Senior ExecutiveOﬃcer, General Manager
Finance & Accounting
DivisionManager of Accounting
Department

Hisashi Shinozuka
Outside Director

Makoto Ogawa

Audit & Supervisory
Board Member (full-time)

Yoshikazu Shima
Director,
Executive Vice President
Extrusion Business Division

Director,
Senior Executive Oﬃcer
Research & Development
Division, New Business
Development Division

Yasuo Oikawa

Tomoyuki Kiura

Koichi Wakabayashi

Director,
Executive Vice President
Bead Business Division,
Global Business Division

Kosuke UchidaDirector,
Senior Executive Oﬃcer
General &Personnel Aﬀairs Division,
Internal Audit Department

Takayuki Ikeda
Outside Director

Director,
Senior Executive Oﬃcer
Assistant to the President,
Corporate Planning Division

Kiyoshi Itou

Outside Director

Yoshiaki Sawada

Audit & Supervisory
Board Member (full-time)

Hideki Honda

Audit & Supervisory
Board Member (part-time)

Yoshihisa Ishihara

Director, Senior ExecutiveOﬃcer, General Manager
General Technology
Division, Logistics &Purchasing Division

JSP Corporate Report 2023

Yoshiyuki Kawakami
Ryoko Sugiyama
Outside Director

35 Sustainability

Outside member ofAudit & Supervisory
Board (part-time)

List of Corporate Officers As of June 29, 2023
Senior Executive Oﬃcers/Executive Oﬃcers
Responsibilities

Title

Name

Senior Executive Oﬃcer

Shinya Ougi

General Manager of EPS Division

Senior Executive Oﬃcer

Kazuo Monji

General Manager of Industrial Materials

Senior Executive Oﬃcer

Tadao Yabiki

Senior Executive Oﬃcer

Kazutoshi Sasaki

Executive Oﬃcer

Masato Naito

Executive Oﬃcer

Shingo Takahashi

Title

Name

Executive Oﬃcer

Yosuke Takemura

Division

Responsibilities
General Manager of General & Personnel
Aﬀairs Division and Manager of GeneralAﬀairs Department

General Manager of Corporate Planning

General Manager of Research &Executive Oﬃcer

Kazuhiro Nakajima

Development Division

General Manager of Advanced Materials

and Public and Investor Relations Depart-

ment, and Information System Department

Sales Division

Executive Oﬃcer

Atsuo Shimizu

General Manager of New Business

Executive Oﬃcer

Hiroaki Fukui

General Manager of Global Business

Executive Oﬃcer

Takashi Hanne

Development Division

Division, Corporate Planning Department,

Division

General Manager of Yokkaichi Research Center,Research & Development Division

General Manager of Living Materials Division
General Manager of Construction and
Civil Engineering Materials Division
Deputy General Manager of

Global Business Division and Manager ofBusiness Management Department
Director and President of
Executive Oﬃcer

Masaharu Oikawa

JSP Plastics (Shanghai) Co., Ltd.
Director and President of

JSP Advanced Materials (Wuxi) Co., Ltd.
Director and President of

JSP Advanced Materials (Dongguan) Co., Ltd.
Director and President of

JSP Advanced Materials (Wuhan) Co., Ltd.

JSP Corporate Report 2023

36 Sustainability

Stock and Company Information
Listed stock exchangeTokyo Stock Exchange, Prime Market

Securities Code

7942

Number of shares per trading unit

100 shares

Total number of authorized shares

46,000,000 shares

Total number of sharesissued and outstanding

31,413,473 shares(including 1,605,300 shares of treasury stock)

Fiscal year

From April 1 to March 31

Number of shareholders

40,978

As of March 31, 2023

Other companies
in Japan

54.64%

Individuals and others

28.78%
Total number ofshares issued andoutstanding

Foreign investors

8.40%

Securities companies

6.72%

Major shareholders

Name

Company proﬁleDistribution of shares by shareholder type

Financial institutions

1.46%
Number ofshares held

outstanding
sharesMITSUBISHI GAS CHEMICAL COMPANY, INC.

16,02053.74

JSP Customer Shareholding Association

1,315

4.41

The Master Trust Bank of Japan, Ltd.

1,204

4.03

MSIP CLIENT SECURITIES

647

2.17

Custody Bank of Japan, Ltd.

401

1.34

JSP Employee Shareholding Association

318

1.06

SMBC Nikko Securities Inc.

254

0.85

UBS AG LONDON A/C IPBSEGREGATED CLIENT ACCOUNT

250

0.84

Nippon Life Insurance Company

241

0.80

NORTHERN TRUST CO.
（AVFC）RE IEDU
UCITS CLIENTS NON LENDING 15 PCT
TREATY ACCOUNT

240

0.80

President & Representative
Director
Tomohiko Okubo
Establishment
January, 1962
Capital10,128 million yen
Fiscal year
Accounts closed in March
IR inquiries
Corporate Planning Division,
Public and Investor Relations
Department

Percentage
of total(1,000 shares)

Head Oﬃce
Shin-nisseki Building, 3-4-2
Marunouchi, Chiyoda-ku, Tokyo
100-0005 Japan

TEL:+81-3-6212-6306

Number of shareholders

Employees
2,966 (consolidated)(Persons)
50,000Main aﬃliated companies
20 companies

42,181

40,9782022/32023/340,00028,99830,00031,44623,16520,00010,0000Notes
1. Our company holds 1,605 thousands shares of treasury stock, but is excluded from the major shareholders listed above.
2. Percentage of total outstanding shares is calculated excluding treasury stock.
3. From among the shares held as listed above, the number of shares related to trust business is as follows.
The Master Trust Bank of Japan, Ltd.: 1,204 thousand shares Custody Bank of Japan, Ltd.: 401 thousand shares

JSP Corporate Report 2023

2019/32020/337 Data Section

2021/3

Global Network

As of March 31, 2023
Domestic oﬃces

Global Network

4
1
1

1
1

Head oﬃce
Sapporo Sales Oﬃce
Sendai Sales Oﬃce
Nagoya Sales Oﬃce
Osaka Sales Oﬃce
Fukuoka Sales Oﬃce
Hiroshima Sales Oﬃce
Hokkaido Plant
Kanuma No.1 Plant
Kanuma No.2 Plant
Kanuma No.3 Plant
Kanuma MF Plant
Kashima Plant
Yokkaichi No.1 Plant
Yokkaichi No.2 Plant
Kansai Plant
Kita-Kyushu Plant
Kyushu Plant
Kanuma Research Center
Yokkaichi Research Center
Kanuma Logistic Center
Recycling Center
NBD Center

5
6

15 11
12
13
14

2

7

8

10
9

3

Group companies in Japan

North America

EMEA

Asia

USA
❶ JSP International Group LTD.

France❹ JSP International S.A.R.L.

South Korea❼ KOSPA Corporation

Mexico❷ JSP International De Mexico S.A. de C.V.

Czech Republic❺ JSP International s.r.o.

Taiwan❽ Taiwan JSP Chemical Co., LTD.

South America

Italia❻ GHEPI S.r.l. [Equity method aﬃliatedcompany]

Singapore❾ JSP Foam Products PTE. LTD.

Brazil❸ JSP Brasil Industria de Plasticos LTDA.

Thailand❿ JSP Foam Products (Thailand)Co., Ltd.

JSP Corporate Report 2023

38 Data Section

China⓫ JSP Advanced Materials (Wuxi) Co.,LTD.
⓬ JSP Plastics (Shanghai) Co., LTD.
⓭ Kunshan JSP Seihoku Packaging
Material Co., LTD.
⓮ JSP Advanced Materials (Dongguan)Co., LTD.
⓯ JSP Advanced Materials (Wuhan)Co., LTD.

JSP Packaging Corporation
KP Corporation
Mirax Corporation
JSP Molding Corporation
Sansho Foam Tech Corporation
Hokuryo EPS Co., Ltd.
Honshu Petrochemistry
NK Kasei Co., Ltd.
Seihoku Package Co., Ltd.
Sanin Kasei Kougyo Co., Ltd.
[Equity method aﬃliatedcompany]

JSP Corporation
Shin-nisseki Building, 3-4-2 Marunouchi,
Chiyoda-ku, Tokyo 100-0005 Japan
TEL：+81-3-6212-6306

https://www.co-jsp.co.jp/english/
Disclosure of Financial and Non-ﬁnancial Information on Website

IR Information●To Individual Investors●Management Policy●Financial Performance●IR Events●IR Library●Corporate Stock- and Bond-related Information●Frequently Asked Questions
https://www.co-jsp.co.jp/english/ir/

Sustainability●Message from the President●Sustainability Management●Environment●Society●Corporate Governance●Responsible Care
●Stakeholder Engagement

https://www.co-jsp.co.jp/english/sustainability/