Message fromthe President & CEO

Sustainability Management

Environment

SocialGovernance

Disclosure Based on
the TCFD Recommendations

ESG Data

Corporate Philosophy and Policy
Three Principles(how to realize the vision) specify how we become

MITSUBISHI MOTORS’ Philosophy System

more proactive to exert a positive influence on society.

Our company’s corporate activities are based on the“Three Principles,” which are positioned as the basic

The “Three Principles,” which is the spirit of Mitsubishi’s founding, is positioned as a fundamental philosophy common to the Mitsubishi Group.

Shoki Hoko
= Corporate Responsibility to Society
Strive to enrich society, both materially and spiritually, while contributing towards the preservation of the
global environment.

Shoji Komei= Integrity and Fairness
Maintain principles of transparency and openness, conducting business with integrity and fairness.

Ritsugyo Boeki= Global Understanding through Business
Expand business, based on an all-encompassing
global perspective.

principles common to the Mitsubishi Group. The “MMCVISION
Create vibrant society by realizing the potential of mobility

WAY*1” describes the attitudes and actions that each

MISSION

take. In addition, we aim to fulfill our “Mission” and1. Provide new experiences for our customers with creative products and service excellence.
2. M ake positive contributions to the sustainable development of our society.
3. Act sincerely as a trusted company.
4. Enhance stakeholder value by leveraging the Alliance.

In the automobile industry, technological innovations are emerging one after another due to thevision and mission to serve as common guiding
principles for the employees of the MITSUBISHI
MOTORS Group as we look toward the future. The

Conduct*2,” which all executives and employees are
required to follow.
We contribute to the realization of a sustainable society while deepening mutual understanding
business activities in each country and region centered on familiar products such as cars.

diversification of powertrains, the automobile intelligence, and the shift to IoT, and the role of automobiles has changed from “cars” as hardware to “mobility” as a whole transportation system. Under such amajor transition, we are committed to research andprovide all people with possible opportunities to go

MITSUBISHI MOTORS has formulated our corporate

realize our “Vision” by practicing the “Global Code ofthrough dialogue with various stakeholders throughdevelop the potentialities of mobility broadly and to

Vision & Mission

and every executive and employee should have andwherever they want, to see whatever they want, andmeet whomever they want, at any time. The “Vision”
includes our desire to promote new challenges andeconomic activities of individuals and contribute to
the revitalization of society as a whole by streamlining and optimizing the movement of people.

automobile industry is in a period of major change,

VISIONThe society
we want
to create

MISSION

How to realize the vision

MMC WAY

The attitudes and actions
that each and every employee need topractice to fulfill our mission.

Global Code of Conduct

Standards that all executives andemployees must comply withand our business environment is also undergoing
substantial changes. Under these circumstances, the*1: Please see page 65 for details on the “MMC WAY.”*2: Please see page 106 for details on the “Global Code of Conduct.”

Vision (the society we want to create) and Mission
MITSUBISHI MOTORS CORPORATION Sustainability Report 2024

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Message fromthe President & CEO

Sustainability Management

Environment

SocialGovernance

Disclosure Based on
the TCFD Recommendations

ESG Data

Our Approach to and Framework for Promoting Sustainability

The automotive industry is undergoing a once-in-acentury transformation, as new technologies suchas connectedness and autonomous driving and new
business models such as car sharing are drasticallychanging the concept of the automobile as a means
to transport people and goods. In particular, on theenvironmental front, climate change and energy
problems are becoming more serious worldwide. As
countermeasures, the automotive industry is being
called on to take up major challenges, such as theelectrification of automobiles.
As the external environment surrounding MITSUBISHI MOTORS becomes more complex, we believe
it is essential to realize a sustainable society andstrengthen our competitiveness based on our visionof “Create vibrant society by realizing the potential ofmobility.” We believe this approach is indispensablefor the Company’s sustainable growth.
When creating our mid-term business plan, “Challenge 2025,” we came up with several scenarios for
how the world will look in 15 years from now and thenperformed backcasting to formulate a plan for what
we have to work on in the next three years.*
The Company recognizes that various challenges
in the environmental, social, and governance fields
pose risks to its sustainable growth. At the sametime, we see working to solve social problems as anopportunity for new business, and we will strive to
reduce risk and contribute to solving social problems
through responsible business operations.

We have established the Sustainability Committee,
which is chaired by the executive officer, president &CEO, to promote sustainability initiatives throughout
the MITSUBISHI MOTORS Group. MITSUBISHI MOTORS
has identified material issues as important issues that
we should wrestle from various problems in the environmental, social, and governance fields. The Sustainability Committee confirms the risks and opportunities identified from a long-term perspective by those
responsible for each materiality initiative.
At the same time, the Sustainability Committee
deliberates and decides on initiative targets based on
the external environment and stakeholder needs andexpectations from a medium-term perspective, anduses the PDCA cycle by checking progress.
We have a structure in which important matterssuch as reviewing material issues and the overall
status of sustainability activities are deliberated andreported by the Board of Directors.

TCS division
Engineering division

Procurement division
Sales division

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09▶ NextSustainability Committee(Administrative office: Sustainability Promotion Department)

Plan
Summary of the previous fiscal year➡
Formulation of plans forthe current fiscal year
ActionCheck
Progress of the plan for the fiscal year /Revision of the plan

Do

Deliberation
and Reporting

Production division

WEB https://www.mitsubishi-motors.com/en/sustainability/
strategy/susc-summary/index.html

Board of Directors

Product strategy division

On the environmental front, the Sustainability Committee discusses our efforts to achieve carbon neutrality, which is a global issue, and to enhance disclosure in line with the Task Force on Climate-related
Financial Disclosures (TCFD) Recommendations. On
the social front, we discuss initiatives involving humanrights, which are an area companies are increasingly
being called upon to address.
We provide timely disclosure of the Sustainability
Committee’s proceedings on our website. Please referto the following.

Executive Committee

MITSUBISHI MOTORS CORPORATION Sustainability Report 2024

Corporate division

Proceedings

Deliberation
and Reporting* For details, please refer to the Company’s mid-term businessplan, “Challenge 2025.”
WEB https://www.mitsubishi-motors.com/en/investors/corpmanage/plan.html

Related internal divisions

Framework for Promoting SustainabilityGroup companies

Approach to Sustainability

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Message fromthe President & CEO

Sustainability Management

FY2023 Achievements of
the Sustainability Committee<Meetings convened>
3 times<Principal matters for deliberation and reporting>• Review of FY2022 initiatives on the material
issues and activity plans for FY2023• Initiatives to achieve carbon neutrality• Response based on the TCFD recommendations• Human rights initiatives• FY2023 disclosure policy• Initiatives to foster a sustainability mindset, etc.

Environment

SocialGovernance

Disclosure Based on
the TCFD Recommendations

ESG Data

Sustainability Committee members (As of April 2024)
Category
Chair
Vice-chair

Position or Scope of Authority
Executive Officer, President & CEO
Executive Officer (responsible for Internal Control Promotion/General Administration/Corporate Affairs) andDivision General Manager, Corporate Affairs Division
Committee Executive Officer, Executive Vice President (responsible for Sales)
members Executive Officer, Executive Vice President (CFO)
Executive Officer, Executive Vice President (responsible
for Engineering/TCS*1/Design)
Executive Officer (responsible for Procurement)
Executive Officer (responsible for Production)
Corporate Officer, Division General Manager, Corporate
Planning DivisionCorporate Officer, Division General Manager, Corporate
Strategy Management Division
Division General Manager, PD*2 Office
Person in Charge of Materiality Initiatives
Senior Executive Officer (responsible for Product Strategy), Division General Manager, Product Strategy DivisionCorporate Officer, Division General Manager, Human
Resources DivisionCorporate Officer, Division General Manager, Mobility
Business DivisionCorporate Officer, Division General Manager, EV Powertrain Engineering Development Division 1
Corporate Officer, (responsible for AMS*3 and Product Sales Strategy),
Division General Manager, General Administration,
Sustainability Division
Division General Manager, Vehicle Engineering Development Division 1
Division General Manager, SCM*4 Division
Division General Manager, Internal Control Promotion Office
Division General Manager, TCS*1 Division
Division General Manager, Production Strategy Planning Division
Division General Manager, Production Engineering Division
Division General Manager, Procurement Management Division
Division General Manager, Global Sales Development Division
Division General Manager, Global After Sales Division
Division General Manager, Domestic Sales Division
Observers Members of the Board and the Audit Committee
Executive Officer (responsible for Legal & Corporate
Governance), Division General Manager, Legal & Corporate Governance Division
Audit Committee Office, Assistant to Full-Time Members of the Audit Committee
General Manager, IR Office of Corporate Strategy Management Division
General Manager, Financial Planning Office
General Manager, Public Relations Department

Structure for Promoting Carbon Neutrality
With the aim of achieving carbon neutrality across the
supply chain by 2050, we established the Carbon Neutrality Council under the Sustainability Committee. This
council, which met four times in FY2023, is chaired by
the Executive Officer, Executive Vice President.
In particular, with respect to “responding to climate change and energy issues,” under the Sustainability Committee we established the Carbon Neutrality Council. Council members include the headsof divisions responsible for management strategy,
products, production, procurement, logistics, andother areas. In addition to assessing climate changerisks and opportunities, the council considers specificresponse measures in each domain and drafts medium- to long-term response policies and targets. The
proposed policies and targets are deliberated by the
Sustainability Committee.
Please see page 30 for details on the Carbon Neutrality Council.

*1 Total Customer Satisfaction *2 Program Director*3 Asia Pacific Marketing & Sales *4 Supply Chain Management
MITSUBISHI MOTORS CORPORATION Sustainability Report 2024

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Message fromthe President & CEO

Sustainability Management

Instilling Sustainability Awarenesswithin the Company

Environment

SocialGovernanceParticipation in the United Nations
Global Compact

MITSUBISHI MOTORS conducts penetration activities

In May 2019, we announced our support for the United

throughout the year so that executives and employ-

Nations Global Compact (UNGC), the universal princi-

ees can deepen their understanding of sustainability

ple regarding human rights, labor, the environment

and practice sustainability initiatives through theirand anti-corruption advocated by the United Nations.

daily work. At the end of each fiscal year, we conduct

The UNGC are voluntary behavioral principles foran employee awareness survey to confirm the degreecompanies and organizations that were proposed byof penetration. We use the survey results to strength-

then-Secretary-General Kofi Annan at the World Eco-en and improve each measure and reflect them innomic Forum (Davos Conference) in 1999. As a global

activities in the following fiscal year.

company, we believe that respect for human rights<Examples of Activities in FY2023>

and anti-corruption initiatives are very important.

• Online training related to sustainability in general

Accordingly, that same year we partially revised the8,232 participants

MITSUBISHI MOTORS Global Code of Conduct, clari-• Training on overall sustainability tailored to eachfying our efforts related to respect for human rights

job rank

and anti-corruption. In addition, we have established

Conducted 19 timesa Human Rights Policy that commits us to promoting(Entry-level employees, mid-career employees,

business activities that emphasize human rights.

manufacturing staff candidates, newly appointed

Based on the 10 principles of the UNGC, as a goodM2 employees <Managers>, newly appointed M1

corporate citizen we will continue our activities toward

employees <General Managers>, executives)

the realization of the sustainable growth of society.

Disclosure Based on
the TCFD Recommendations

ESG Data

Participation in External Organizations
 Japan Business Federation (Keidanren) Japan Automobile Manufacturers Association, Inc.
 Society of Automotive Engineers of Japan, Inc.
 Global Compact Network Japan (GCNJ)

Main External Initiatives Supported or Referred to United Nations’ Sustainable Development Goals (SDGs)
 United Nations Global Compact (UNGC) Core Labor Standards of the International Labour
Organization (ILO) Organization for Economic Co-operation and Development (OECD) Guidelines for Multinational Enterprises
 ISO 26000 Guidance to Social Responsibility
 Keidanren Charter of Corporate Behavior• Distribution of messages from management related
to sustainability

Please see the following for specific activities inDistributed three times

the four areas stipulated in the Global Compact.

• Distribution of a newsletter related to sustainability

Human rights: P57-60

Distributed six times

Labor		: P75-77

The environment : P22-55
Anti-corruption : P109

MITSUBISHI MOTORS CORPORATION Sustainability Report 2024

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Message fromthe President & CEO

Sustainability Management

Environment

SocialDisclosure Based on
the TCFD Recommendations

Governance

ESG Data

MITSUBISHI MOTORS’ Materiality
Identifying and Reviewing Materiality

Process of Identification and Review
STEP

MITSUBISHI MOTORS, with recognition of importanceof the United Nations Sustainable Development Goals

1(SDGs), identified material issues as the important
issue that we should wrestle from various challenges
in the fields of environment, social and governance in
FY2018.
During the identification process, we conducted repeated examinations from the perspective of
stakeholders’ concern and impact on the Company,

STEP

2

and held hearings with experts. After that, we repeated discussions about our material issues at the Sustainability Committee, and the decision was made atthe Executive Committee.*
In recent years, social trends related to sustainabil-

STEP

3

ity have changed substantially and rapidly. After carefully considering the impacts the Company has on theeconomy, environment and people, including humanrights, we are flexibly reviewing and addressing material issues in response to the latest social conditions
and the needs and expectations of our stakeholders.
* Determined by the Executive Committee in accordance withinternal regulations as of 2018. From 2019 onwards, resolvedby the Board of Directors and other bodies in accordance withchanges in the internal regulations.

STEP

4

STEP

5

MITSUBISHI MOTORS CORPORATION Sustainability Report 2024

Sorting through Issues and Setting Evaluation Standards

History of Materiality Identification and Review
FY2018FY2019FY2020We selected candidates, taking into consideration
the SDGs, the GRI standards and external assessments of the Company’s sustainability activities.
Furthermore, we have set evaluation criteria todetermine priorities based on the scope of impactof our activities (boundary) and consistency withbusiness risks.

FY2021

Internal investigation

FY2022The secretariat, in consultation with related internal departments, confirmed the priority of theinitiatives from the viewpoint of impact on the
Company’s business.

• Identified materiality• Formulated the Human Rights Policy• Formulated the Environmental Plan Package• Reviewed materiality(In light of the formulation and publication of the“Environmental Plan Package” and the new normal
triggered by the spread of COVID-19, we havereviewed material issues relating to the “environment” and “people.”)• Expressed our support for the TCFD Recommendations• Reviewed materiality(Recognizing that “employees are capital that
support the Company’s growth,” we reviewed
material issues related to people, given the needto enhance human capital investment.)• Reviewed the Environmental Plan Package

Interviews with outside experts
Interviews were conducted by the secretariat withan expert familiar with social issues. The expert reviewed important issues that the Company should
address from the perspective of its impact onsociety (economy, environment and people).

Deciding the Materiality and Setting KPIs
The Sustainability Committee deliberated on material issues that reflects internal and external opinions,and the Board of Directors and other bodies gave
their final approval. We also set KPIs for each material issue and assigned people to oversee them.

Reviewing Materiality
After carefully considering the impacts the Company has on the economy, environment and people,
including human rights, we flexibly reviews material issues in response to the latest social conditions
and the needs and expectations of our stakeholders. These material issues were then deliberated by
the Sustainability Committee, and the Board of Directors and other bodies gave their final approval.
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Message fromthe President & CEO

Sustainability Management

Environment

SocialGovernance

Disclosure Based on
the TCFD Recommendations

ESG Data

The Materiality Identified

E
Extremely highConservation of water
resources (P52)

Targetl 3.9

Targets
l 8.7
l 8.8

Targetsl 12.4l 12.5

Targetl 6.4

E Responding to climate change and energy
issues (P29)

Targets
l 7.2
l 7.3

Targetl 9.4

Targetsl 13.1l 13.2l 13.3

S Delivering products which help prevent traffic
accidents (P78)

Targetl 3.6

Targetl 4.4

Targets
l 9.2
l 9.4

Targetl 10.2

Targetl 11.5

Targetl 13.1

Targetl 17.7

S Promoting diversity and inclusion, andenhancement of employee engagement (P68)

Targets
l 5.4
l 5.5

Targetl 8.5

G Strengthening governance and ensuring
compliance (P98)

Targetl 8.7

Targetl 16.5

S Improvement of product, sales, and service
quality (P83)
S Contribution to local economy throughbusiness activities (P89)

E Preservation of biodiversity (P54)

Very highImpact of the Company on society (economy, environment and people)

E S Achieving sustainablesupply chain (P61)

Targetl 15.5

S Promoting occupational healthand safety (P75)

Targetl 8.8

S Promoting social contribution
activities (P92)

Targetl 10.2

Targetsl 12.2l 12.5E Resource recycling initiative (P45)

Targetl 3.9

E Prevention of pollution (P48)

Targetl 11.5

Targetl 13.1

Targetl 15.4S Strengthening human resource development (P72)

Targetl 6.3

Targetsl 12.4l 12.5

Target
l 4.4

High
High

Very highExtremely highImpact on the Company’ s business
E : Environment

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G : Governance

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Message fromthe President & CEO

Sustainability Management

Environment

SocialDisclosure Based on
the TCFD Recommendations

Governance

ESG Data

Reflecting Medium- to Long-term Perspectives when Setting Annual Targets Related to Materiality
MITSUBISHI MOTORS needs to reinforce its management base in order to respond to the various changes
taking place in the automotive industry, look at thebusiness environment from a long-term perspective,
and respond to medium- to long-term risks and opportunities. To achieve these goals, we recognize theimportance of setting annual targets on materiality
initiatives from a medium- to long-term perspective.
Starting FY2021, we have been taking the following steps to set annual targets for individual materiality initiatives.
First, we took a long-term perspective, 2050 as ourtime horizon for responding to environmental issues
we consider essential in order to conduct businessactivities. In the Environmental Policy, we particularly
focused on climate change, resource circulation andpollution prevention. For other material issues, we
looked ahead to 2030, which is the target year for theUnited Nations’ Sustainable Development Goals (SDGs).
We clarified the social issues (risks) the Company
recognizes from a long-term perspective, as well as
the effects (opportunities) that could be obtained byaddressing these issues. After deliberating with the division general managers in charge of implementing thematerial issues, we clarified the direction of response.
Looking from the medium-term perspective, or
three years into the future, we worked with the division general managers responsible for implementing
the material issues to identify the external environment and stakeholders’ needs and expectations. We
then set medium-term action targets. The Sustainability Committee deliberated the medium- to longterm aspects of respective material issues, including
risks and opportunities, as well as the appropriateness of the annual targets and indicators.
Starting FY2022, we have been reviewing the
MITSUBISHI MOTORS CORPORATION Sustainability Report 2024

BackcastingLong Term
Policies and directions in responding tolong-term risks and opportunities

Medium Term (Next Three Years)

We consider stakeholders’ needs, expectations,and the direction of our initiatives in light ofthe external environment over the medium term,
taking into account our mid-term business plan or
looking forward three years.

Annual Targets

KPIs and targets for material
issues in this fiscal year
2023

2024

2025

2026

2027

medium to long-term aspects of each material issue
and setting annual targets and indicators. We areprogressing with our initiatives based on this review.
Through the process of formulating “Challenge
2025,” the mid-term business plan we announced
in March 2023, we reflected on the “15-Year Plan”
we use for internal activities, looking ahead 15 years
in the three areas of technology, regional communities, and the mobility business, and then createda long-term roadmap to get there. We believe thesocial issue of climate change will revolutionize theenvironment surrounding the automotive industry. To
promote carbon neutrality as a means of addressing
this global issue, in February 2023 we revised our Environmental Targets 2030. Specifically, we raised our
FY2030 business activities CO2 emissions reduction
target by “- 50% compared with the FY2018 level,”maintaining our current targets of “- 40% comparedwith the FY2010 level” for average CO2 emissions fromnew vehicles and “50% by FY2030” for the electrified
vehicles sales ratio. We also established the target of
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14▶ Next

2030

2050

2040

“100% by FY2035” for the electrified vehicles sales ratio. To meet the revised Environmental Targets 2030
in FY2023, we have stepped up our measures that
contribute to carbon neutrality and are considering
the introduction of internal carbon pricing.
For details on the long-term roadmap, please refer to page 7 ofthis document on our website.
WEB https://www.mitsubishi-motors.com/content/dam/com/
ir_en/pdf/financial/2023/230310-2.pdf?20230406

Environmental Targets 2030
Revised Targets

CO2 emissions from business activities(Total Emissions of Scope 1 and 2)-40% → -50%

(Compared to FY2014)(compared to FY2018)

Added Targets

 Ratio of electrified vehicles sales 100% by FY2035
P
 romoting CO2 emission reduction activities throughcollaborations with suppliers/transporters in the fields ofprocurement and logistics
P rovision of energy management services utilizing electrified vehicles and used batteries
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Message fromthe President & CEO

Sustainability Management

Environment

SocialGovernance

Disclosure Based on
the TCFD Recommendations

ESG Data

Materiality (Risks/Opportunities/Impacts)
Materiality

Risks
Opportunities
Impacts Increasing fines and credit costs due to noncompliance with regulations, as well as technology
development costs to comply with regulations due Increasing sales by enhancing our lineup of electrito stricter fuel efficiency, CO2 emissions, and ZEV* Contribute to the realization of a society more resilfied vehicles and other products that help reduce
regulations, etc.
Responding to Climate
ient to climate change as we move toward net-zero
CO2 emissions.
 Increasing procurement costs for electricity and raw
Change and Energy
CO2 emissions through the growing proliferation ofmaterials due to the introduction of carbon taxes and  Acquiring new demand for securing emergency power
Issueselectrified vehicles and renewable energy.
other carbon pricing measures.
sources in the event of a weather-related disaster.
D amaging to plants due to more frequent and severe
weather disasters and shutting down operations due
to supply chain disruptions.
 Stabilizing procurement costs by reducing our depen Increasing raw material procurement costs due todence on depleted resources.
resource constraints resulting from the depletion of Reducing costs by using resources more efficiently
natural resources such as rare metals.
 Contribute to a resource-recycling-oriented sociand reusing waste.
 Increasing costs due to tighter regulations on the
Resource Recycling
ety by minimizing input resources and maximizing Improving competitiveness through 3R design anduse of recycled materials, recycling, etc. and higher
Initiatives
resource efficiency.
advanced recycling technologies.
response costs.
 Increasing opportunities to utilize end-of-life batteries.
 Declining in our social image due to delayed response Enhancing our image by appealing to our efforts toto resource recycling.
contribute toward a recycling-oriented society.
 Increasing costs of managing environmentally hazardous substances due to stricter and expanded Reducing costs through more efficient management,E
regulations resulting in increased damage to humanincluding of the supply chain.
 Contribute toward a society free of environmental
health and loss of ecosystems.
 Maintaining competitiveness by providing safe andpollution by reducing the environmental impact of Paying lawsuits, fines or sanctions due to serious
secure products through enhanced management,
Prevention of Pollution
our products and the pollution resulting from ourleaks involving air or water.
including the supply chain.
business activities.
 Stopping parts procurement due to shutdown of oper Improving our image through management based onations in our suppliers due to environmental problems.
voluntary standards that are stricter than regulations.
 Declining in our social image due to delays in complying with regulations.
 Contribute to the reduction of water risks and con Increasing instability in procurement and costs due toservation of water resources by addressing these Reducing water stress impacts through reduced dewater shortages and water pollution.
issues in light of the impact of climate change,
pendence on water resources.
Conservation of Water  Shutting down operations and reducing revenues due toresource extraction, and environmental pollution on
flooding and other damage caused by climate change.  Reducing costs through reduced water consumption
Resources
water resources (torrential rains, droughts, waterand increased reuse.
 Increasing costs due to water withdrawal restrictions
pollution, water shortages, etc.)
and stricter wastewater regulations.
 Contribute to the reduction of ecosystem loss byaddressing these issues in light of the impact of cli Avoiding the loss of ecosystems that could lead to Increasing procurement costs and instability in promate change, resource extraction, and environmental
environmental changes that raise the uncertainty andcurement of resources due to environmental changes
pollution on ecosystems (e.g., species extinction andcost of procuring resources.
Preservation of
resulting from loss of ecosystems.
migration, reduction, and disappearance of habitats Avoiding damage to our image by mitigating or reBiodiversity Declining in our social image due to loss of ecosysand habitat areas).
storing the impact on ecosystems caused by land use
tems caused by land use in business operations.
 Ensure implementation of conservation measures inin the project.
harmony with regional biodiversity.
* Zero emission vehicles (ZEVs) are electric vehicles (EVs) and fuel cell vehicles that emit no exhaust gases. Automotive regulations in the US state of California state that for manufacturers that sell more than acertain number of units in the state, a certain percentage of those units must be ZEVs.
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Message fromthe President & CEO

Sustainability Management

Environment

SocialGovernance

Disclosure Based on
the TCFD Recommendations

ESG Data

Materiality

Risks
Opportunities
Impacts Securing MITSUBISHI MOTORS’ brand recognition and Increasing in accidents due to aging drivers worldexpand sales by introducing advanced technologies.  Contribute to the realization of a mobility society
wide and rapid increase in car ownership in emerging
Delivering Productswith zero traffic accidents through penetration and Securing brand power and earnings through themarkets.
which Help Prevent
expansion of safety technologies.
development and introduction of anti-crash technol Frequent occurrence of fatal motorcycle accidents in
Traffic Accidents
ogies for motorcycles for the ASEAN market.
ASEAN countries.
 Increase customer satisfaction by providing productImprovement of Prod Causing quality problems due to product and sales/ Enhancing loyalty and winning new customers by
quality and sales and service quality that exceeds
uct, Sales and Service
service quality.
providing high-quality products, sales and services.
customer expectations.
Quality Strengthening of the management base by develop Increasing global investment in the ASEAN region,
Contribution to Local
 Develop and address issues in the regions where we
ing human resources.
resulting in labor shortages and rising labor costs.
Economy throughdo business and grow with them.
 Increasing intra-regional and income disparity due to  Improving the work environment, productivity andBusiness Activities
efficiency through continuous capital investment.
economic development.
 Enhance corporate value by building an organization in Securing talented human resources and creating
Promoting diversity Concentrating human resources in companies withwhich diverse human resources can play an active role.
value from diverse perspectives.
and inclusion, and endiversity and good working environments.
 Provide value by creating a comfortable work envi Improving productivity by enhancing the quality ofhancement of employE ffecting poor communication on business.
ronment that further enhances productivity.
remote work.
ee engagement Enhance corporate value by strengthening managers’ Decreasing productivity and weakening of the organi Improving productivity and organizational resilience.
management skills.
zation under working remotely.
Strengthening Human Enhancing competitiveness due to an increase in Provide value by improving ability to respond flexibly
Resource Development  Decreasing competitiveness due to delayed adaptahighly specialized personnel.
S
to changes in the environment.
tion to social and environmental changes.
 Decreasing our image and interruption of business Increase engagement by providing an environment
continuity due to the occurrence of occupational Ensuring of business stability by creating safe andPromoting Occuwhere each employee can work and play an active
accidents, increase in the number of patients withsecure workplaces and promoting physical and menpational Health androle in a rewarding, healthy and energetic manner,lifestyle-related diseases and mental illnesses, andtal health.
Safetyboth physically and mentally.
other factors that impede the mental and physicalhealth of employees.
 Enhance business continuity by strengthening the Increasing production delays, stoppages, and costs due
BCP* system in cooperation with industry associa Securing an emergency procurement system by estabto supply chain disruptions caused by external factors.
tions and government.
lishing a stable supply chain.
 Reducing raw material procurement and decrease
Achieving a Sustain Reduce impact on human rights and the environ Maintaining social credibility through responsible
in corporate value due to delays in addressing social
able Supply Chain
ment by promoting CSR throughout the supply chain
behavior throughout the supply chain, by respecting
and environmental issues, including human rights
through addressing conflict minerals and other issues
human rights and ensuring compliance.
violations in the supply chain.
related to human rights with suppliers.
 Supporting safe and secure lives by establishing a Increasing number of large-scale disasters andprompt support system in the event of a disaster.
environmental destruction due to extreme weather Ensure the safety and security of community life.
 Contributing to communities’ social development
conditions, etc.
Promoting Social Con Develop local communities through the use of eachthrough ongoing activities that meet regional needs.
 Growing disparity and inequality due to economic
tribution Activities
employee’s skills, know-how and products.
 Contributing to accident reduction by providing traffic
development.
safety awareness opportunities.
 Increasing traffic accidents.
 Ensure confidence in the Company by further
 Increasing of social problems of corporate fraud.
strengthening governance, such as by ensuring com Increasing number of cyberattacks and other issues  Ensuring soundness and transparency by establishing aStrengthening Govpliance with laws and regulations, and the approprirobust governance system, and earning society’s trust.
related to information leaks, as well as their increasG ernance and Ensuring
ateness and efficiency of business execution.
 Ensuring safety and sustainability of corporate busiing severity.
Compliance Ensure confidence in the Company by properly idenness through enhanced risk management.
S topping business due to natural disasters or outtifying risks.
breaks of infectious diseases.
* BCP: Business continuity plan

MITSUBISHI MOTORS CORPORATION Sustainability Report 2024

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Message fromthe President & CEO

Sustainability Management

Environment

SocialGovernance

Disclosure Based on
the TCFD Recommendations

ESG Data

Materiality (External Environment/Stakeholders’ Needs and Expectations/Medium-Term Targets)
Materiality

External Environment

Stakeholders’ Needs and Expectations

Medium-Term Targets
FY2030 targets: Average CO2 emissions from new vehicles:-40%(Tank to Wheel, compared with FY2010) Declaration of carbon neutrality by more than 140 countries/re Electrified vehicles sales ratio: 50% (100% by
gions by 2050.
FY2035) Increasing the 2030 target by major countries by triggering COP26
 Increasing expectations for efforts to achieve car-  CO2 emissions from business activities:
held in 2022 (United Kingdom).
bon neutrality throughout the supply chain against-50% Various national governments considering or announcing lower
Responding toa backdrop of growing demand for environmental(Scope 1 and 2 total emissions, compared
CO2 and higher fuel economy standards, making electrified vehiClimate Change andcles mandatory, banning the sale of vehicles with internal comconsiderations.
with FY2018)
Energy Issues
bustion engines, strengthening regulations on life cycle assess-  Expanding ESG investment (promotion of transfor-  Promoting CO2 reduction activities withments (LCA).
mation of corporate activities by investors.)
major suppliers.
 Acceleration of global efforts to reduce CO2 emissions with theP romoting CO2 reduction activities in cooprelease of the Sixth Assessment Report of the IPCC*1 in Marcheration with logistics companies.
2023.
 Providing energy management services utilizing electrified vehicles and used batteries.
 Implementing measures to adapt to climate change.
 Expansion of the shift to a circular economy.
 Promote the adoption of non-fossil based Materialization of domestic and international waste problems
 Rising demand for environmental considerations.
plastics.
(e.g., import restrictions in emerging countries).
E Resource Recycling Expanding ESG investment (promotion of transfor-  Achieving zero direct landfill waste (lessInitiatives
 Strengthening of the EU Battery Directive (e.g., disclosure of themation of corporate activities by investors.)
than 0.5%.)
amount of recycled materials used).
 Reusing batteries used in electrified vehicles.
 Expansion of marine pollution problems caused by plastics.
 Strengthening of Emission Regulations in Each Country and Region.
 Strengthening of regulations on chemical substances in each Rising demand for environmental considerations.
 Complying with regulations on environmenPrevention of Pollution
country and region.
 Expanding ESG investment (promotion of transfortally hazardous substances in products.
 Strengthening of regulations on import/export of hazardous
mation of corporate activities by investors.)
wastes (plastic wastes).
 Worsening of global environmental changes and water shortages
 Promoting climate change countermeadue to extreme phenomena associated with the progression ofsures, resource recycling, and prevention ofclimate change.
 Rising demand for environmental considerations
environmental pollution.
Conservation of Water Worsening of water pollution due to population growth and urban  Expanding ESG investment (promotion of transfor Managing water consumption and monitorResources
development in emerging countries.
mation of corporate activities by investors.)
ing of wastewater quality based on water Worsening of water pollution due to population growth and urban
risks at each production site.
development in emerging countries.
 Enhancement of international conservation in accordance with an Promoting climate change countermeaassessment report published in May 2019 by IPBES*2.
 Rising demand for environmental considerations
sures, resource recycling, and prevention ofPreservation of Adoption of the Kunming-Montreal Global Biodiversity Frame Expanding ESG investment (promotion of transforenvironmental pollution.
Biodiversity
work at the 15th Conference of the Parties to the Convention on
mation of corporate activities by investors.) Promoting community-based environmenBiological Diversity in December 2022.
tal initiatives.
*1 IPCC: Intergovernmental Panel on Climate Change*2 IPBES: Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services

MITSUBISHI MOTORS CORPORATION Sustainability Report 2024

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Message fromthe President & CEO

Materiality
Delivering Products
which Help Prevent
Traffic Accidents

Sustainability Management

Environment

SocialExternal Environment Strengthening of traffic accident-related laws and regulations,
government safety targets and safety performance evaluation
standards.
 Introduction of safety standards and regulations for CASE andother advanced technologies.

Improvement of
Product, Sales, andService Quality

D
 iversification of customer needs in line with the increasing sophistication of vehicles (electrification/intelligence).
E xpansion of off-board functions of vehicles (connected/smartphone linkage).

Contribution to Local
Economy throughBusiness Activities

 In the ASEAN- Promotion of initiatives toward a carbon-neutral society.
- Facilitation of imports and exports through expansion of themulti-FTA (Free Trade Agreement) network.
- Continued economic growth due to the demographic dividend.

Governance

Disclosure Based on
the TCFD Recommendations

ESG Data

Stakeholders’ Needs and Expectations
Medium-Term Targets Providing customers with safe, secure, and Customers: Increasing Expectations for Active Safecomfortable means of transportation by
ty Technologies.
taking the lead in the environment.
 Local communities: Providing a safe means of mo Developing accident reduction technologies
bility for all people.
suited to the ASEAN road traffic environment.
 Being satisfied with the quality of the product and  Achieving top-level customer evaluations
all touch points with MITSUBISHI MOTORS.
in our five ASEAN core markets (Thailand, Business perspective: Maintaining and strengthIndonesia, the Philippines, Vietnam, andening management to ensure compliance and to
Malaysia), Australia, and the mother market
prevent loss of trust in terms of quality.
of Japan.
 Developing our business with an emphasis on Developing the region by hiring, developing people,
contribution to all stakeholders and society.
investing, transferring technology, exporting, pro Concentrating managing resources in thetecting the environment and contributing to society.
ASEAN region as a core business region.

Promoting diversity
R equirements for a comfortable work environment for a diverse
and inclusion, andenhancement ofworkforce.
employee engagement Providing a fair working environment tailored to Developing a comfortable work environindividual circumstances.
ment in which diverse human resources can Growing the business by securing excellent humanplay an active role.
resources.
 Enhancing our information disclosure on Securing personnel who have strong managementhuman capital.
StrengtheningL ack of communication and isolation due to remote work.
capabilities.
S Human ResourceD eveloping management and training capabilities.
 Providing training that matches the environment
R apid changes in the automotive industry (CASE, MaaS).
Development Establishing education policies tailored toand the times.
the environment and generation.
 Preventing mental illnesses caused byenvironmental changes and maintaining Helping employees respond to environmental, age
employees’ mental and physical health.
Promoting Growth in the number of people suffering from mental illnesses
and lifestyle changes.
 Promoting company-wide health and safety
Occupational Healthand lifestyle-related diseases.
 Requiring business continuity.
management, supervision of health andand Safety
safety related laws and regulations, andhealth management.
 Realizing stable and sustainable procure Rising awareness of human rights and environmental issues inment through collaboration and coordinaAchieving a
the international community.
 Expecting business continuity and enhanced trust.
tion with suppliers.
Sustainable Strong competition in EV battery and raw material procurement  Achieving stable, ongoing procurement.
 Realizing an increase in the value of mobiliSupply Chain
due to increasing electrification ratio.
ty by strengthening the competitiveness ofbusiness partners’ QCDD*.
C
 ontributing to a sustainable society by Promoting initiatives to realize a carbon-neutral
each employee utilizing technologies, expertise, and products to meet the challengsociety in cooperation with local communities.
Promoting Social Various global disasters such as heat waves, droughts, and floods
Contribution Activities
caused by heavy rainfall due to extreme weather worldwide.
 Expecting emergency support in disaster and rees of an increasingly diverse society.
 Providing support based on cooperation agreements
construction support.
in times of disaster and resolving social issues.
 Maintaining a strong governance structure
through effective and efficient operation of Revision of business-related laws and regulations.
the internal control system.
 Business interruptions due to natural disasters or outbreaks of Preventing major incidents through strict compliance.
Strengthening
infectious diseases.
 Strengthening emergency response and
G Governance and Frequent information leaks and business interruptions due to Expecting business continuity and enhanced trust.
internal information sharing when risks
Ensuring Compliancecyberattacks and other issues.
become apparent.
 Occurrence of wars, terrorism, political unrest, or deterioration of Enhancing information collection andpublic safety in our key markets.
analysis, technical measures, and employee
training related to cyber-attacks.
*QCDD: Quality, cost, delivery, and development
MITSUBISHI MOTORS CORPORATION Sustainability Report 2024

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Message fromthe President & CEO

Sustainability Management

Environment

SocialGovernance

Disclosure Based on
the TCFD Recommendations

ESG Data

Stakeholder Engagement
Basic Approach

Stakeholder Identification

MITSUBISHI MOTORS believes that its stakeholder relationships is extremely important to its achievementof sustainable corporate growth. Through dialogue
and other forms of engagement, the MITSUBISHI MOTORS Group clarifies its responsibilities and issues, andstrives on a daily basis to improve its operations.
By further deepening dialogue with our diverse
stakeholders, we will continue to sincerely address
society’s expectations and challenges and incorporate
our understanding of them into our business activities.

Through business, MITSUBISHI MOTORS and the Group are involved with a host of individuals and organizations.
From the standpoint of realizing a sustainable society and enhancing our corporate value, we have identified ourmost important stakeholders as consumers and our customers, business partners, shareholders and investors,
employees and local communities.

Positive Impact Finance Agreement
Concluded with MUFG BankIn March 2022, MITSUBISHI MOTORS signed a loan agreement
for Positive Impact Finance (a type of financing for corporates
with unspecified use of funds) with MUFG Bank, Ltd.
In 2018, MITSUBISHI MOTORS identified material issues itshould prioritize in the fields of the environment, society andgovernance. In 2020, the Company reviewed and revised its
material issues, taking into account worsening environmental problems, as well as changing social conditions caused by
the spread of COVID-19. We announced the Environmental
Plan Package, which outlines the direction of the Company’senvironmental efforts for the next 30 years. We are implementing initiatives throughout the organization on this basis.
Thus acknowledging our responsibility as a company that
produces and sells automobiles, we will work toward specifictargets in activities that reduce the environmental impact.
At the same time, we will reinforce our environmental technologies, hinging on Kei-car segment commercial electricvehicles and plug-in hybrid electric vehicles (PHEV), and encourage the spread of effective products and technologies.
In this way, we will contribute toward the development of avibrant and sustainable society.
In selecting the themes for this contract, we chose activities that contribute to achieving the Sustainable Development Goals (SDGs) and align with MITSUBISHI MOTORS’material issues. Mitsubishi UFJ Research & Consulting Co.,
Ltd. conducted qualitative and quantitative evaluations, anda third-party opinion was obtained from Japan Credit Rating
Agency, Ltd. regarding the compliance of the evaluation procedures with the Principles for Positive Impact Finance andthe rationality of the evaluation indicators used.
MITSUBISHI MOTORS CORPORATION Sustainability Report 2024

Dialogue with Stakeholders
Stakeholders(For details on stakeholder initiatives, refer to the pages enclosed in < >.)Policies on Dialogue
Promote activities that
better reflect customer
input in our products
and services.

Opportunities for Dialogue

Frequency

Reflecting Input in
Our Business
Promoting customer
satisfaction activities

Customer Contact Center <p. 86>, sales comOngoing
panies <p. 85>, after-sales services <p. 86>
Website, social networks
Ongoing
Customer satisfaction surveys <p. 84>
As necessary Improving products
Events, TV/newspaper/magazine advertising, As necessary and services
email magazine
BusinessEngage in communica- Contact for inquiries, Business Partner
Ongoing
Building relationpartners
tion aimed at coexisHelpline <p. 62>
ships aimed attence and coprosperity Suppliers Meeting, presentations, events,
As necessary coexistence andbased on mutual trust. specialized websites
coprosperity based
Participation in industry organizations
As necessary on mutual trust
Shareholders Disclose business and fi- IR inquiry contacts
Ongoing
Promoting initiatives
and investors nancial information and Interviews
As necessary Targeting sustainresults in an appropriate Financial results briefings
Four times per year able growth andmanner and time.
Mid-term business plan briefings
As necessary enhanced corporate
value
Individual initiative briefings
As necessary
Conduct construcShareholders’ Meeting
Once per year
tive dialogue aimed at
Ongoingsustainable growth and IR websites
Events, email magazines
As necessaryenhanced corporate
value.
Integrated report
Once per year
Employees
Two-way communiLabor management discussions <p. 77>
As necessary Creating a safe andcation for fostering
rewarding working
Consultation offices (Employee Consultation
Ongoing
teamwork and a sense Office, Outside attorney consultation (Helpline),
environmentof unity based on the
MITSUBISHI MOTORS Global Hotline) <p. 107>
principle of mutual trust Town hall meetings with Executives
As necessary
and mutual responsibil- Internal websites
Ongoing
ity between labor andEngagement
survey<p.
66>
Once
per yearmanagement.
Consumers
and ourcustomers

Local
Build good relations
Promoting initiatives
Local community consultation desks, websites
Ongoingcommunities with local communities.
to resolve social andCollaborations with municipalities <p. 93>
As necessary environmental issues
As necessary
Engage in dialogue with Social contributions <p. 92>
diverse stakeholders to Community events
As necessary
resolve social and enviPlant
tours
Ongoingronmental issues.
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Message fromthe President & CEO

Sustainability Management

Environment

SocialGovernance

Disclosure Based on
the TCFD Recommendations

ESG Data

Examples of Stakeholder Dialogues
Consumers and customers

Shareholders and investors

Local communities

If a customer points out issues related to quality or

We proactively disclose information to shareholders

We contribute to the realization of resilient com-

defects, we seek to resolve the customer issue inand investors, and strive to ensure transparency andmunities through activities that meet local needs.

collaboration with sales companies and drive quality

credibility through constructive dialogue. Specifically,

As examples of activities that take advantage of ourenhancements. In addition, feedback and opinions

to enhance understanding of MITSUBISHI MOTORS,

products’ distinctive characteristics, after concluding

about product functionality, or opinions about specifi-

we disclose various information through our website,

disaster cooperation agreements with local govern-

cations, are shared with relevant divisions and used toissue publications, and hold briefings on our mid-term

ments, we provide support by loaning “MITSUBISHI

improve product capabilities even further. To educate

business plan and financial results. Furthermore, we

MOTORS PHEVs” that can tap power they have gen-employees about the customer’s perspective, we also

regularly exchange views with numerous investors

erated themselves for use in emergencies. We will

distribute videos of the feedback with images and ex-

about our management strategies, financial infor-

support the safety and security of the lives of local

planations of relevant points on the intranet so thatmation, and non-financial information, including on

people with “the Power of PHEV Driving” and “theemployees can access to firsthand customers’ opin-

the environment. We extensively circulate the opin-

Power of Electricity.”ions. Noteworthy comments and opinions including

ions and evaluations received from shareholders andthose that are particularly important are periodicallyinvestors within the Company, including to manage-reported to management.

ment, to utilize knowledge from capital markets in

Please see page 86 for details.

For details, please see the feature on page 93, as
well as our website.

our management and business activities. Through thissort of internal feedback, we aim to enhance corporate value through sustainable growth.

Conclusion of a disaster cooperation agreement
WEB https://www.mitsubishi-motors.co.jp/
carlife/phev/dcsp/ (only in Japanese)

Responding to customers at Customer
Contact Center
Website: “Investors”
WEB https://www.mitsubishi-motors.com/
en/investors/

MITSUBISHI MOTORS CORPORATION Sustainability Report 2024

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Message fromthe President & CEO

Sustainability Management

Environment

SocialGovernance

Disclosure Based on
the TCFD Recommendations

ESG Data

External Evaluation
To contribute to the realization of a sustainable society, the MITSUBISHI MOTORS Group is working to resolve social issues through its business activities in each country andregion where it operates.
These efforts have earned recognition from external organizations and resulted in our inclusion in various ESG index constituents.

Inclusion in ESG Indices

ESG-Related Assessment

FTSE4Good Index Series/FTSE Blossom Japan Index
MITSUBISHI MOTORS has been consecutively selected as a constituent of the “FTSE4Good Index Series” and the “FTSE Blossom Japan Index,” which were designed by FTSE Russell for
ESG investment, for the five consecutive years since FY2020.
(June 2024)
In addition, MITSUBISHI MOTORS has been continuously
selected as a constituent of the “FTSE Blossom Japan Sector
Relative Index,” which was designed by FTSE Russel in FY2022,
for the three consecutive years. (June 2024)

DBJ Environmentally Rated Loan Program
In the Development Bank of Japan, Inc.’s DBJ Environmentally Rated Loan Program, we have been ranked as a company
with excellent advanced environmental initiatives. We received financing on this basis. (June 2022).

T his Cer tifi es

三菱自動車工業株式会社 殿

貴社は『ＤＢＪ環境格付』調査の結果
環境への配慮に対する取り組みが特に先進的であると認められました

株式会社日本政策投資銀行
代表取締役社長
D a t e2022 年 5 月 27 日

Si gnat ur e

殿

CDP
CDP requests thousands of companies, cities, states and regions to disclose environmental impacts, and assesses theirprogress through independent scoring methodology. The
CDP score is disclosed to institutional investors. In FY2023,
MMC’s scores are as follows. (February 2024)• Climate change: A- (leadership)• Water security: C (awareness)

Morningstar Japan ex-REIT Gender Diversity Tilt Index
Since FY2023, MITSUBISHI MOTORS has been selected as aconstituent of “Morningstar Japan ex-REIT Gender Diversity
Tilt Index,” which was designed for ESG investment. (December 2023)

PRIDE Index
In the PRIDE Index, which was designed by “Work with Pride”
as a criteria for evaluating initiatives related to LGBTQ andother sexual minorities in the workplace, we have been consecutively awarded Gold certification for the six consecutive
years since FY2018. (November 2023)

S&P/JPX Carbon Efficient Index
MITSUBISHI MOTORS is included “S&P/JPX Carbon EfficientIndex” for environmental stock index, which was designed by
S&P Dow Jones Indices LLC and the Tokyo Stock Exchange, Inc.
(June 2023)

MITSUBISHI MOTORS CORPORATION Sustainability Report 2024

CE R TIFICATE

認定証

The Certified Health & Productivity Management Outstanding Organizations Recognition Program
We were certified as a “2024 Certified Health & Productivity
Management Outstanding Organizations” in the large corporation category of the certification system organized by
the Ministry of Economy, Trade and Industry and the Nippon
Kenko Kaigi. (March 2024)
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