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