Contents

Introduction

Management

Social (S)Environment (E)Governance (G)Recognition / Assurance

Environmental Policy | Environmental Management | Contributing to Decarbonization | Climate Change Disclosure According to TCFD Recommendations | Biodiversity | Building of a Recycling-oriented Society | Control of Chemical Substances | Pollution Control | Environmental Data

Climate Change Disclosure According to TCFD Recommendations
Basic Approach
Approach

As a Group that conducts business worldwide, we recognize thescale of the impact of climate change on the Group. We consider
climate change to be an important issue in sustainability
management.
In 2019 we announced our support for the

1. GovernanceVision’s Medium-and-Long-Term Environmental Targets, as well
as reports regarding single-year GHG emission targets for the

Promotion framework

current fiscal year.

a) Board of Directors’ Oversight on
Climate-related Risks and Opportunities
1) Organizational initiatives and the responsibilities of theBoard of Directors

On a quarterly basis, the Board receives reports regarding
the assessment and status of climate-related issues. The Board
also implements comprehensive decision-making with regard tosuch matters as management strategy, taking climate-related
issues into account.

recommendations of the Task Force on Climate-related

Under the key concept of “Digital & Sustainable

Financial Disclosures (TCFD), an entity established by theTransformation,” the Medium Term Plan (fiscal 2021-2022 andregulations, systems, or the like pertaining to climate-related

Financial Stability Board. In 2020 we commenced a scenario

fiscal 2023-2025) defines “expanding ESG initiatives” as aissues are announced, the Board receives reports from theanalysis based on the recommendations. We continue topriority measure for the medium to long term. We are

Sustainability Promotion Committee regarding evaluations anddisclose the financial impact related to climate change and ourstrengthening efforts related to environmental, social, andresponses from related internal departments. Based on these,

responses to the same, in accordance with the TCFD

governance (ESG) issues, including climate change.

the Board then discusses and decides on responses.

recommendations.
Back in 1992 we formulated a Declaration on the Global

The Board of Directors recognizes climate change as animportant issue in management strategy and considers climate

Environment to establish a basic Groupwide philosophy onchange risks and opportunities when plotting out investments

environmental conservation. In April 2009 we revised thisfor business growth (including business portfolio transformation

declaration into the TOPPAN Group Declaration on the Global

centered on DX and SX for addressing social issues).

Environment, a basic philosophy focused on more proactive
approaches to Groupwide conservation activities.
In November 2019 we established the TOPPAN SDGs

As for nonscheduled reports, in the event that new

As for specific initiatives that address climate change andother ESG issues, the Board of Directors receives reports from
the Management Committee regarding the details of actions that

STATEMENT , a pledge to our commitment to integrating thehave been considered and discussed by the Sustainability

SDGs into management. The statement describes the “fulfilling,

Promotion Committee. The Board discusses, monitors, andsustainable living” that we want to make possible through our

supervises target setting and progress.

SDG efforts and identifies environmental issues, including those
associated with climate change, to be addressed throughGroupwide activities and specific business activities.

2) Receipt of reports by the Board of Directors regarding
climate-related issues—process and frequency
Each year in April, the Board receives and approves reports
regarding greenhouse gas (GHG) emission results for theprevious fiscal year under the TOPPAN Group Environmental

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Sustainability Report 2023

Contents

Introduction

Management

Social (S)Environment (E)Governance (G)Recognition / Assurance

Environmental Policy | Environmental Management | Contributing to Decarbonization | Climate Change Disclosure According to TCFD Recommendations | Biodiversity | Building of a Recycling-oriented Society | Control of Chemical Substances | Pollution Control | Environmental Data

The working group coordinates assessments andb) Management’s Role in Assessing and Managing
Climate-related Risks and Opportunities

countermeasures on climate-related issues in cooperation with
the Risk Management Working Group and the SDGs Promotion

The Board of Directors has assigned responsibility for climate-

Project.

2. Risk Management
Promotion frameworka) The Organization’s Processes for
Identifying and Assessing Climate-related Risks

related issues to the Sustainability Promotion Committee

Through the Management Committee, the Board of(chaired by the President & Representative Director) andDirectors receives reports from the Sustainability Promotion

supervises the activities undertaken by the committee.

Committee regarding the assessment and status of climate-

The TCFD Working Group is responsible for identifying and

The TCFD Working Group set up under the committee

related issues as well as target management. The Board also

assessing climate-related risks. The risks identified areleads Groupwide efforts to address climate-related issues. The

implements comprehensive decision-making with regard tocategorized into the following types in relation to the Group

group members consist of personnel from responsible divisions

such matters as management strategy, taking climate-related

businesses we operate and the products and services weand the business departments of Group companies.

issues into account.

provide: technology risk, market risk, reputation risk, legislation
risk, risks related to existing and new regulations, and risks
related to rapid or gradual physical changes. The working group

Governance Structure for Addressing Climate Change and Other ESG Issues
TOPPAN Holdings Inc.

then identifies potential risks and opportunities associated witheach risk type, both upstream and downstream, throughout theBoard of Directors

entire value chain from R&D to procurement, production, andReporting and supervisingproduct supply. The impacts are assessed over the short termManagement Committee(within one year), medium term (two to three years), and long

Reporting and supervisingterm (four to more than 30 years).

Sustainability Promotion Committee
TOPPAN Group ESG Management Promotion Committee

Executive Sustainability
Promotion Committee

Coordinating

Reporting and supervising

SDGs Promotion Project
Environment
Working Group

Communities
Working Group

Corporate ESG Project

PeopleWorking Group

Formulates and advances businessplans for achieving the SDGs

Human Rights
Working Group

Coordinating

Supply Chain
Working Group

TCFD
Working Group

Formulates promotion and disclosureplans for TOPPAN’s core ESG themes

Risk Management
Working Group

Coordinatingb) The Organization’s Processes forManaging Climate Change Risks
The TCFD Working Group is responsible for formulating andadvancing plans to address climate-related risks based on the
results of impact assessments factoring in financial impacts.
The assessment results and plans are reported to the
Sustainability Promotion Committee and evaluated in acommittee review. Based on reports from the committee, theCoordinating

Board of Directors manages climate change risks and supervises

Operating Companies

the risk management process.

TOPPAN Group operating companies

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Sustainability Report 2023

Contents

Introduction

Management

Social (S)Environment (E)Governance (G)Recognition / Assurance

Environmental Policy | Environmental Management | Contributing to Decarbonization | Climate Change Disclosure According to TCFD Recommendations | Biodiversity | Building of a Recycling-oriented Society | Control of Chemical Substances | Pollution Control | Environmental Datac) How Processes for Identifying, Assessing, andManaging Climate-related Risks Are Integrated into
the Organization’s Overall Risk Management
We have established a comprehensive risk management
structure that covers risks related to climate change and other

3. Strategy

production, and product supply.

Promotion framework3) Climate-related issues with a large financial impacta) Climate-related Risks and Opportunities
the Organization Has Identified over
the Short, Medium, and Long Term

ESG issues. The divisions in charge and the Risk Management
Working Group (led by the Director in charge of Risk
Management, attended by persons in charge of risk management

In the 1.5°C scenario, we reconfirmed that there are risks ofincreased costs accompanying the introduction of a carbon tax
and higher prices for purchased energy. Given the expected
shifts in consumer preferences, moreover, there are1) Review status for risks and opportunities in the organization’s

opportunities for increased sales of low-carbon-emission

time frames (short-, medium-, and long-term perspectives)

products and services and for gains in corporate value.

at the responsible divisions, and administered by the

The time frames for risks and opportunities are as follows: shortCompliance Department in the Legal Division) work together toterm, within one year; medium term, two to three years; andflood damage resulting from higher atmospheric temperaturescontrol individual risks under the supervision of the Board oflong term, four to more than 30 years. The scheduling iscould lead to such risks as stoppages at major Group plants. We

Directors.

coordinated with our business action plans, that is, the fiscal-

continue to consider alternative production plans to manage

The Risk Management Working Group performs risk

In the 4°C scenario, we confirmed that increased wind andyear plans, medium-term plans, and long-term vision. Climate-these risks over the long term while periodically gathering

assessments once yearly and identifies the risks that can exert

related risks and opportunities are assessed by related

information on flood-prevention technologies and taking steps

severe adverse impacts on Group management as “significant

departments.

to introduce them.

risks” for the year.
When designating the significant risks, the working groupconsiders the results of Groupwide risk assessments, the2) Processes used to determine which risks and opportunities
could have a material financial impact on the organization

likelihood that risks will arise over the medium to long term,

The TCFD Working Group set up under the Sustainability

and the frequency and severity of the risks if they do. The

Promotion Committee is tasked with implementing the scenario

working group also carefully reviews the social andanalysis. Personnel from related divisions and Group companies

environmental shifts in the regions where we do businessparticipate in the working group to identify significant risks andoverseas and the matters pertinent to our sustainability

opportunities related to climate change, assess the financial

management, such as environmental issues associated with

impacts, and consider measures based on those assessments.

climate change. “Climate change risks” were designated as

Business strategy personnel from related divisions andsignificant risks for TOPPAN for the year fiscal 2023.
Once identified, the significant risks are reported to theGroup companies gathered in fiscal 2022 to formulate a scenario
analysis coordinated with the medium-term plans of individual

Sustainability Promotion Committee and evaluated in aGroup companies. We have assessed financial impacts andcommittee review. The Board of Directors receives reports fromconsidered countermeasures with a focus on concrete

the committee and supervises the finalization of annual riskbusinesses.

review.

Two pathways were examined in the scenario analysis: 1.5°
C and 4°C scenarios with long-term forecasts up to 2050.

See the Risk Management section on page 138

Operations in Japanese and overseas sites have been consideredthroughout the value chain, from R&D to procurement,

112

Sustainability Report 2023

Contents

Introduction

Management

Social (S)Environment (E)Governance (G)Recognition / Assurance

Environmental Policy | Environmental Management | Contributing to Decarbonization | Climate Change Disclosure According to TCFD Recommendations | Biodiversity | Building of a Recycling-oriented Society | Control of Chemical Substances | Pollution Control | Environmental Datab) Impacts of Climate-related Risks and Opportunities on
the Organization’s Business, Strategy, and Financial Planning
Time frames: short term, within 1 year; medium term, 2 to 3 years; long term, 4 to more than 30 years
Financial impact: small, less than 1 billion yen; medium, 1 billion yen to 10 billion yen; large, more than 10 billion yen

1) Impact of identified climate-related issues on business strategy

Transition risks and opportunities*1

Scenario

Risk Type

Introduction of / increase
Existing
in carbon tax
regulations(carbon tax,
carbonIncrease in renewable
emissionenergy ratio
policies)New
regulations

MarketPhysical risks and opportunities*2

Chronic

Time
Frame

Cost increases due to the introduction of emissioncredit trading and a carbon tax on fossil-fuelderived CO2 emissions

Mediumterm

Increase in operational costs due to rises inpurchased energy prices

Mediumterm

Small to medium

Long
term

MediumStrengthen the development/sales of battery packaging materials for EVs; enter renewable-energy
businesses

Mediumterm

Large

Establish new recycling schemes; strengthen the development/sales of recyclable products, suchas mono-material packaging

SX

Short
term

Small

Promote the use of paper-based Cartocan and FSC-certified products (paper products, etc.)

SX

Check existing suppliers and find new suppliers; research/consider alternative products; monitor
systems/markets from a long-term perspective

Expanded markets for green energy

Financial Impact

Principal Measures / Potential Businesses and Services

Implement Scope 1 & 2 GHG emission reduction activities towards the Medium-and-Long-Term
MediumIncrease of 9.6 billion Environmental Targets for Fiscal 2030 in order to achieve the TOPPAN Group Environmental Vision
yen from fiscal 2021 2050; monitor systems, renewable energy technologies, etc. from a long-term viewpoint
Implement Scope 1 & 2 GHG emission reduction activities towards the Medium-and-Long-Term
Environmental Targets for Fiscal 2030 in order to achieve the TOPPAN Group Environmental Vision
2050; monitor systems, renewable energy technologies, etc. from a long-term viewpoint

Tightened regulations on
fossil-fuel-derived plastics

Expanded needs for the recycling of plastics frompackaging and materials

Enhanced forest protection

Expanded use of pulp from forest-thinning
operations and FSC-certified paper

Increase in raw materials
pricesIncrease in procurement costs for films, paper, etc.

Mediumterm

Large

Decline in existing paper media accompanying thedigital shift

Mediumterm

MediumIncrease in customer needs for reducing GHG
emissions across the entire supply chain

Short
term

Large

Decrease in demand for carbon-emitting products,
such as disposable plastic products

Mediumterm

Small to medium

Increase in demand for low-carbon/reduced-plastic
products

Short
term

Large

Strengthen the development/sales of ethical sales-promotion products and sustainable packaging

Increased risk of plant shutdowns due to flooding /water damage

Mediumterm

Large

Continue to consider alternative production plans over the long term; periodically gather flood
information and take steps to address flooding-prevention technology

Outflow of chemical substances due to flooding /water damage

Mediumterm

Small

Consider the possibility of chemical leakage and formulate/implement countermeasures

Expanded markets for next-generation
communications due to growth in remotemonitoring needs

Mediumterm

MediumReinforced GHG-emission
reductions at clientcompanies
Increase in demand forenvironmentally friendly
products

Acute

Risks and Opportunities

Shifts in Social Trends

Increasing severity ofacute, extreme weather
conditions

Changes in rainfall andweather patterns

Water usage restrictions

Long
term

Small

Temperature rise

Increase in needs associated with food loss /hygieneLong
term

Small to medium

Risk

Opportunity

Accelerate initiatives for business portfolio transformation, a priority measure in the Medium Term Plan
Enhance resources for the Erhoeht-XTM business, such as manufacturing DX support(NAVINECT, etc.) and Hybrid BPO services

DX

Accelerate initiatives for business portfolio transformation, a priority measure in the Medium Term Plan

Create communications-related businesses, such as ZETA-based solutions, and metaverse-related
businesses

SX

DX

Consider alternative production plans to address water usage restrictions; assess water usage and water
stress by region, from a long-term viewpoint
Strengthen the development/sales of functional barrier packaging; strengthen the development offood-loss solutions
DX

SX

SX

Products and services related to “Digital & Sustainable Transformation” (DX and SX), the key
concept under the Medium Term Plan

*1 Transition risks and opportunities: Assessed in the 1.5°C and 4°C scenarios based on the Net Zero Emissions by 2050 (NZE) scenario, the Announced Pledges Scenario (APS), and the Stated Policies Scenario (STEPS) presented in the World
Energy Outlook 2021 (WEO 2021) from the International Energy Agency (IEA).
*2 Physical risks and opportunities: Assessed in the 1.5°
C and 4°
C scenarios based on the Representative Concentration Pathways (RCPs), greenhouse gas concentration trajectories adopted by the Intergovernmental Panel on Climate Change (IPCC)(RCP 1.9 and RCP 2.6 for the 1.5°C scenario, RCP 7.0 and RCP 8.5 for the 4°
C scenario).

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Sustainability Report 2023

Contents

Introduction

Management

Social (S)Environment (E)Governance (G)Recognition / Assurance

Environmental Policy | Environmental Management | Contributing to Decarbonization | Climate Change Disclosure According to TCFD Recommendations | Biodiversity | Building of a Recycling-oriented Society | Control of Chemical Substances | Pollution Control | Environmental Data

2) The Organization’s consideration of impact on business andstrategy

neutrality. Physical risks include halts in production due towater damage from flooding at production sites and higher

4. Metrics and Targets

PolicyTo contribute further to the Net Zero society targeted by the

expenses for restoration. We are addressing these risks by

TOPPAN Group Environmental Vision 2050, we are advancing areinforcing disaster-preparedness measures and reducing Scopebusiness portfolio transformation centered on digital and1 & 2 and Scope 3 greenhouse gas (GHG) emissions through thesustainable transformation under the Medium Term Plan.

stepwise introduction of renewable energy. A new transition

Between fiscal 2023 and 2025 we will invest approximately 300

plan in place will neutralize Scope 1 & 2 and Scope 3 GHG

Our climate-risk indicators are Scope 1 & 2 and Scope 3 GHG

billion yen in DX and SX businesses, including M&A and businessemissions by 2050. Energy-efficient activities and facilities will

emissions and the ratio of renewable energy out of total power

investments in growth areas as well as capital investments in

be intensified under an internal carbon pricing (ICP) system

consumption.

growth businesses and businesses in their initial phases.

that steps up our low-carbon investments and long-term carbona) Metrics Used by the Organization to Assess
Climate-related Risks and Opportunities in Line with
Its Strategy and Risk Management Process

Our indicators for climate-related opportunities,
meanwhile, assess how far a business mitigates climate change

neutrality measures.

c) Resilience of the Organization’s Strategy inConsideration of Different Climate-related Scenarios

We will also be expanding business opportunities by linking

and helps solve social issues: percentage of operating profit

forecasted shifts with the “Digital & Sustainable Transformation”

contributed by DX/SX/frontier businesses and no. of servicesof our business portfolio. We will develop more DX solutions tocontributing to GHG-emission reductions under the TOPPAN

Qualitative and quantitative analyses were conducted under three

reduce GHG emissions across the supply chain and create newBusiness Action for SDGs.

scenarios (the Net Zero Emissions by 2050 [NZE] scenario, theforms of sustainable packaging that improve recyclability andStated Policies Scenario [STEPS], and the Announced Pledges

mitigate food loss.

Scenario [APS]) presented in the World Energy Outlook 2021

Our ongoing scenario analyses will enhance our forecasting(WEO 2021) issued by the International Energy Agency (IEA)

accuracy. We will stay resilient to an uncertain future by further

and under multiple trajectories plotted out under the

integrating analysis results into management strategies.

Representative Concentration Pathways (RCPs) presented in the
Sixth Assessment Report from the Intergovernmental Panel on
Climate Change (IPCC). The scenarios and trajectories analyzed
covered the period from 2030 to 2050.

Scenarios
Transition scenario
Physical scenarios

1.5℃

4℃

IEA NZE 2050

IEA STEPS or APS

RCP 1.9

RCP 7.0

RCP 2.6

RCP 8.5

Adaptation Plan for Transition Risks and Physical Risks
Scenario analyses have identified transition risks TOPPAN
faces, including the expanded adoption of carbon pricing
systems worldwide that increases operational costs for carbon

Apart from financial metrics, we look at progress towards
GHG-emission reduction to determine performance-linked

See the Transition Plan for Carbon Neutrality by 2050 on page 97

bonuses for directors. This additional metric defines the
responsibilities of management in addressing climate risks.

b) Scope 1 & 2 and Scope 3 Greenhouse Gas Emissions
Scope 1 & 2 GHG emissions were 1,115 kt-CO2e and Scope 3

ICP System Overview

GHG emissions were 5,929 kt-CO2e for the Group as a whole, inInternal
carbon price130 US dollars/t-CO2 (at the time of introduction)

Scope andmethodWe will apply an internal carbon price to CO2emission increases or decreases brought about by
capital investments and will preferentially invest inmeasures with higher CO2-reduction effects.

Pricing
coveredCapital investments that increase or decrease CO2
emissions*Internal Carbon Pricing (ICP): A carbon price internally set and used by acompany to promote low-carbon investments and measures. Companies
can quantify climate change risks by virtually fixing the cost per ton of CO2
emissions according to their own criteria. ICP can be considered a usefulinvestment criterion for companies that seek to accelerate their investments
in low-carbon facilities and energy-efficient measures towards achieving adecarbonized society.

114

fiscal 2022. While the Scope 1 & 2 emission target was achieved
for the fiscal year, the Scope 3 emission target was not. Scope 1, 2,
and 3 emissions have been calculated based on the GHG Protocol
methodology and assured by an independent assurance provider.

c) The Organization’s Targets for Management of
Climate-related Risks and Opportunities andProgress against Targets
Our targets for managing climate-related risks and opportunities
are included among the TOPPAN Group Medium-and-LongSustainability Report 2023

Contents

Introduction

Management

Social (S)Environment (E)Governance (G)Recognition / Assurance

Environmental Policy | Environmental Management | Contributing to Decarbonization | Climate Change Disclosure According to TCFD Recommendations | Biodiversity | Building of a Recycling-oriented Society | Control of Chemical Substances | Pollution Control | Environmental Data

Term Environmental Targets for Fiscal 2030 set towards

developed multiple new products with advanced materials suchachieving the carbon-neutrality goal cited in the TOPPAN Group

as biomass and recycled materials as alternatives toEnvironmental Vision 2050. They are also included in the

petrochemical-derived materials, in fiscal 2022. We will boost

Medium Term Plan, and in the TOPPAN Business Action forour drive to develop materials and packaging that contribute toSDGs, which defines the areas of focus for our measures to

GHG emission reductions and will expand our lineups of

products and services in emerging markets (e.g., energy
conversion devices essential for a hydrogen society).
See the TOPPAN Group Environmental Vision 2050 on page 96
 ee the TOPPAN Group Medium-and-Long-Term Environmental Targets
S
for Fiscal 2030 on page 96

address the SDGs.
For Scope 1 & 2 greenhouse gas (GHG) emissions, a 28.2%
reduction compared to the fiscal 2017 level was achieved infiscal 2022. We will continue monitoring the current status andtake consistent measures to work towards target achievement.
For Scope 1 GHG emissions, such measures include the

Scope 1 & 2 Greenhouse Gas Emissions(kt-CO2e)1,600systematic replacement of utility facilities used for long periods

1,400with high-efficiency alternatives, the installment of systems that

1,200

abate high-global-warming-potential (GWP) gases emitted fromsemiconductor production processes, and a switchover fromthose high-GWP gases to lower-GWP alternatives. The
measures to reduce Scope 2 GHG emissions include safeguards
to ensure that continuously operated equipment is shut down
during long vacation periods.
For Scope 3 GHG emissions, a 20% reduction compared to
the fiscal 2017 level was attained in fiscal 2022. We will workwith suppliers to reduce GHG emissions throughout the entire
supply chain pursuant to the requirements for the “contribution
to decarbonization” stated in the TOPPAN Group Sustainable
Procurement Guidelines.
The growing DX, SX, and frontier businesses represented
19% of the total operating profit in fiscal 2022. Our businessportfolio transformation has achieved dependable results
through revenues earned in growth businesses generated fromour efforts to address climate change and other social
challenges. We will further enhance profits in growth businesses
and intensify synergies within the Group to capture theopportunities related to climate change.
The number of services contributing to GHG emission

Scope 3 Greenhouse Gas Emissions(subject to the Group medium-and-long-term environmental
targets)(subject to the Group medium-and-long-term environmental
targets)(kt-CO2e)

1,552

1,188

1,175

6,900

1,115

6,600
6,300

1,000

5,911

6,000

5,833

5,929

5,700

0

2017

2020

2021

2022 (ﬁscal year)

0*For Scope 1 and 2 emissions, greenhouse gas (GHG) emissions associatedwith electricity consumption at domestic sites are calculated using theadjusted emission factor according to the method specified in the Ministerial
Ordinance Concerning the Calculation of Greenhouse Gas Emissions fromthe Business Activities of Specified Dischargers issued by the Ministry of theEnvironment (MOE) of Japan. Meanwhile, GHG emissions associated withelectricity consumption at overseas sites are calculated using country-specificconversion factors published by the International Energy Agency (IEA).
GHG emissions associated with fuel consumption, excluding electricity
consumption, are calculated globally by the MOE method specified in the
Ministerial Ordinance Concerning the Calculation of Greenhouse Gas
Emissions from the Business Activities of Specified Dischargers.
*The fiscal 2017 result is adjusted based on the revised medium-and-long-term
environmental target (see page 96). (The result before the revision was 1,373
kt-CO2e.)Breakdown of
Operating
Profit for
GrowthBusinesses*The denominator used for
calculating percentages isoperating profit before thededuction of adjustments.

Priority businesses 13%
Existing businesses

68%

Electronics

43%

Fiscal2022 result

重点事業
Operating
proﬁt
13%

76.6

.

Growth businesses

19%
Erhoeht-X™ 12%
SX in Japan/
Overseas
Living &Industry

24%

115

Fiscal2025 plan

Growth businesses

Operating proﬁt

110.0

billion yen

25%

2021

2022 (ﬁscal year)

No. of Services Contributing to
GHG Emission Reduction*

36%

Electronics

2020

TOPPAN Business Action for
SDGs

Existing businesses

7%

Information &Communication

2017*Methods for calculating the Scope 3 GHG emissions are presented on
page 107.
*T he fiscal 2017 result is adjusted based on the revised medium-andlong-term environmental target (see page 96). (The result before therevision was 6,122 kt-CO 2 e.)Priority businesses 12%

billion yen

Living & Industry 13%

reductions was 29 in fiscal 2022. Our core packaging business*Every indicator assured by an independent assurance provider is marked with an assurance stamp

7,365

7,500
7,200

52%
Erhoeht-X™ 25%
SX in Japan/
Overseas
Living &Industry

21%

Living &Industry 12%
Information &New businesses (frontier)Communication 12%
6%

Fiscal 2022 result: 29
Fiscal 2025 target: 40
Fiscal 2030 target: 50*Services that provide value primarily in termsof GHG emission reductions. Target values
are cumulative totals leading up to the targetyear.
 ee the “Activities and targets set out in
S
TOPPAN Business Action for SDGs” onpage 23

Sustainability Report 2023