Sustainability

A Talk with Our External Directors

P43-46

Basic Policy and Structure

P47-48To a Carbon-Neutral Society

P49-50Respect for Human Rights

P51

Supply Chain Management/
Occupational Safety and Health

P52

Corporate Governance41

P53-55Compliance

P56

Management

P57-58Tokai Carbon Co., Ltd.

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Sustainability

Sustainability

A Talk with Our External Directors
regulations apart from delegating management
authority. Sometimes I go beyond the scope ofgovernance to provide future-oriented advice on theoverall management of the company. I believe it is
my role as an external director to provide appropriate
opinions when necessary, including such advice.

Enhancing the Effectivenessof the Board of Directors
As the globalization of business progresses rapidly, our three external directors discussed the ideal formof governance appropriate for a global company and the ideal form of the Board of Directors.

Nobumitsu Kambayashi

Mayumi Asada

Toshiro Miyazaki

External Director

External Director

External Director

The mission and thoughts of an external
director
Miyazaki One year has passed since I became an External
Director of Tokai Carbon. I personally have experience
working for many years in the area of corporate
management planning at a planning department of a
shipbuilding company after I worked at the company’s
departments that handled management accounting,plan execution follow-up tasks, etc. Later, I also
worked as an officer and CFO for several subsidiaries.
From there, I joined a company engaged in marine
development and became its President. 100% ofthat company’s business is conducted overseas. It
is a global company with only about 5% of Japaneseemployees. Our activities were based in areas where
oil could be excavated, such as the U.S., Brazil,
Singapore, Australia, Thailand and Africa. Since Tokai

43

Tokai Carbon Co., Ltd.

Carbon currently sees 80% of its sales come fromoverseas operations, I think that a common point is
the fact that we are developing our business globallyand that the majority of our employees are foreign
nationals.
In order for a company with global businesses
and employees to be effective in governance, it isnecessary to devise a certain level of ingenuity. As
a result of my previous experience, I need to pay
close attention to the governance of subsidiaries,
especially the governance of overseas subsidiaries.
Currently, with the exception of one overseas
subsidiary in Thailand and one in the United States,
the management of Tokai Carbon’s overseas
subsidiaries is basically entrusted to local managers.
However, Tokai Carbon, our parent company, needs
to take the lead in ensuring compliance among
employees, including adhering to internal rules andKambayashi I have a lot of experience in heavy industry
companies and have been employed at a shipbuilding
company for a long time, just like Mr. Miyazaki. I also
have experience as the general sales manager of an
entire company. As you know, there was a time whenheavy industry was positioned as a key industry inJapan. At that time, I did my best for the developmentof society and I think I was able to take on various
challenges. When I was approached about becoming
an External Director at Tokai Carbon, I was retiring as
the head of the shipbuilding company. Although I had
some doubts before making this decision, I decided toassume the position in December 2015 partly due toa strong request from President Nagasaka to take theposition. Seven years have passed since I took officeand I have had many experiences during this time.
Since the mission of an External Director is basicallymonitoring, it is of course important to point out andcall attention to runaway management and execution
by saying “it is risky, so it should be stopped,” “it isdangerous,” etc. I think it is also an important roleas an External Director to support corporate officers,
including President Nagasaka, who is also responsible
for business execution. I have taken these points into
consideration, sometimes admonishing management
and sometimes giving them a push.
Asada

Committee meetings, External Directors can grasp
how each department is trying to address the issues
that are occurring within the company. I think it isan extremely useful system that allows you to get intouch with real-life information within the company
before attending the Board of Directors meetings.

The role of the Management Committee
Asada

We also receive reports on accidents and troubles
during Management Committee meetings. When
this happens, I sometimes give advice during thosemeetings based on my own experience and knowledge,
such as conveying the importance of related surveys
and examinations in order to minimize troubles.
On the other hand, External Directors are required tocheck risks from the standpoint of shareholders rather
than simply agreeing with the ideas of the management
team. I always try not to forget that perspective.

Miyazaki Most of the proposals for the Board of Directors
are deliberated by the Executive Management
Committee. As Ms. Asada said, the Management
Committee is certainly useful. Because of that, I will
listen carefully to proposals made during Management

Sometimes it is important tomake comments that encourage
executive officers.

I have been working as a lawyer for over 20 years.
I think I have not always focused on corporate legal
affairs but rather on medical-related legal affairs,such as those of hospitals and medical corporations.
I have also been involved in criminal cases andjuvenile cases, working on them without specializing
in any particular field.
Tokai Carbon was the first company to appoint me
as an External Director. I was invited to assume thisposition in March 2021 in response to the growing
importance in society of external directors providing
advice from a female perspective.
Since I have no prior experience as an external
director, the existence of a system that allows
external directors to attend weekly Management
Committee meetings has greatly helped me.
Normally Board of Directors meetings are held oncea month. However, by attending weekly Management

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Sustainability

Sustainability

A Talk with Our External Directors
you will probably receive a lecture from the office inadvance. This takes up our time as well as their time
for the lecture. Considering this time burden, I cameto the conclusion that it would be most rational for
external directors to attend Management Committee
meetings. There is a Management Meeting every
Monday morning. To prepare for the meetings, I makeit a rule to do a “preparatory study” on each Sunday
the day before. I read Management Committeematerials in advance. This way, I have the points of
the agenda in mind so that I can ask questions if
interested and give advice if necessary. By doing so,
I can learn about the vivid feelings that Mr. Miyazaki
mentioned. By making such efforts, I can also deepen
discussions during Board of Directors meetings.

Tokai Carbon’s Board of Directors andthe qualities of President Nagasaka as
Chairman of the Board of Directors

Succession planning is also very
important from the perspectiveof management sustainability.
Committee meetings. This is because there is raw
information and vivid thoughts from the executive
side. However, since the proposals are often filled withthe passion of those bringing them forward, there isan undeniable tendency to drift in one direction. I am
afraid that even those of us in the position of External
Director will make a wrong decision if we know thedetails and go too deeply into them since there isa risk that we will be pulled by the passion of theperson making the proposal. I believe that execution
should only be conducted by executives and thatexternal directors should make statements that arefocused on monitoring and supervising management.
I try to calmly judge the content of deliberations of theManagement Committee and express my opinions at
the end of deliberations, paying attention to whether I
am too biased on one side with passionate proposals.
Of course, since there are many projects that I
am personally very supportive of, I sometimes giveencouragement. However, I am always careful to findthe right balance.
Kambayashi I totally agree. I think it all boils down to what
Mr. Miyazaki said and would like to add to this. If you
attend a monthly meeting of the Board of Directors
without attending Management Committee meetings,

45

Tokai Carbon Co., Ltd.

Asada During Tokai Carbon’s Board of Directors meetings,
directors speak frankly which allows us, as external
directors, to speak whenever we want to. Of course,
meetings are centered on those who propose theagenda, and President Nagasaka is the main person
for answering questions from external directors andAudit & Supervisory Board members. However, I
try to raise my hand without hesitation when I needto speak in order to confirm everything that needs
to be confirmed. I think the reason why discussions
at the Board of Directors are more likely to deepen
is because, as I mentioned earlier, discussions at
the Executive Management Committee serve as thefoundation. I believe that President Nagasaka, who is
the Chairman of the Board of Directors, is putting his
utmost effort into creating a Board of Directors where
directors speak frankly and operating the Management
Committee to invigorate the Board of Directors.

Thoughts about the Nomination
Committee/Remuneration Committee
Kambayashi I serve as Chairperson of the Nomination
Committee as well as the Chairperson of theRemuneration Committee.
The most important issue for the Nomination
Committee is the issue concerning successors. It
goes without saying that a succession plan must
be developed internally. It is a difficult issue for any
company to deal with. Even if a succession plan isdecided on internally, it should not be widely authorized
within the company let alone made public. At the
moment, although the Nomination Committee is only
listing successor candidates, it is a very sensitive issue.
The Remuneration Committee will consider mattersat the industry level and the level of companies of thesame size. There is no need to break out from thatlevel nor does the level need to be set to a level thatis very low. There is no correct answer worthy of 100
points, but we should try to get a sense of satisfaction
as a whole. It is important to give consideration to theamount of remuneration so that each officer will bewilling to work hard in the future.
Miyazaki Succession planning is also very importantfrom the perspective of management sustainability.
Given the age difference between the President
and executive officers of the Company, this is anextremely important issue, and I think it is necessary
to take immediate action. I think it is necessary toclearly state to the current executive officers and theirsubordinates at the general manager level who you
intend to succeed to your position. It is important tocarry out and update these initiatives every year.

Towards sustainable growth in the future
Asada

Kambayashi President Nagasaka is willing to spend enoughtime fully grasping the thoughts of people making
proposals in advance before discussing it at theBoard of Directors meetings. It may be possible tohave in-depth discussions at meetings of the Board of
Directors because we have prepared a casual meeting
environment and a solid place for communication.
President Nagasaka sometimes asks me to listen towhat directors are saying. Listening to them deepens
my understanding and allows me to clearly see that
Tokai Carbon is a company in which highly qualified
personnel have gathered together. I feel that Tokai
Carbon is an interesting company.

I do not see many women when I attend Management
Committee meetings and global meetings. Of course,
there are many female employees, but I have theimpression that the number of female employees isstill small at meetings of a certain level. There aremany excellent female employees in the Company,
and I hope that they will play more of an active role.
Although it is not appropriate to be preoccupied withgender, at this point in time, I think it is also necessary
to intentionally increase opportunities for women toplay an active role.
In terms of governance, as was previously indicated,with overseas sales approaching 80%, I think it isnecessary to keep an eye on business activities overseas

Women’s active participation is still at the
halfway point. It is also important to keep
an eye on overseas business.

and check problems. It is difficult to have control whenfacing language barriers and cultural differences, but I
think that is extremely important for us.
Miyazaki We must seriously raise management awarenessregarding ESG and the SDGs. Since Tokai Carbon
has “Carbon” in its company name, we need to moreclearly show how we will work toward carbon neutrality
in the future. Rather than being afraid of various
headwinds, it is important for us to be consciousof environmental harmony and coexistence withnature to acquire business opportunities and actively
contribute to the future of the Earth and society.
Kambayashi Since I became External Director, I havewitnessed five major M&As. As a result, 80% of oursales is overseas based. As I have already mentioned,
I think there is still more work to be done with regard to
the governance of overseas factories and companies.
Since M&As must be considered together with
PMI, it is important to make a plan for how to execute
PMI after M&As take place and carry it out. In thisregard, we are always thinking about how we can
improve our grip on things and what we should do in
the future. As an External Director, I intend to actively
work with the Board of Directors.

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Sustainability

Sustainability

Basic Policy and Structure
Sustainability Policy

Sustainability management structure

Identify the issues from the perspectives ofboth Tokai Carbon and our stakeholders

Tokai Carbon Group engages in corporate activities based on thecorporate philosophy of “Ties of Reliability” with our stakeholders.
Our management strategies are based on good consideration of ESG(Environmental, Social and Governance) to surely respond to the trustof our stakeholders and we work to solve social issues through ourbusiness that will contribute to the realization of a sustainable society
and enlarge our corporate value.

Materiality identification process

Nomination Committee

In January 2022, we set up the Sustainability
Committee as a voluntary advisory body to the Board of
Directors. Chaired by the President and CEO, it consistsof the officer responsible for the General Affairs andLegal Affairs Department, the officer responsible for the
Corporate Planning Department, the officer responsible
for the Human Resources Department, the General
Manager of the R&D Strategy Division, the General
Manager of the Technology & Engineering Division, andGeneral Managers of four principal business divisions.
It meets on a quarterly basis, in principle, to discuss
important matters related to sustainability, refer certain
matters to the Board of Directors, submit reports to
the Board of Directors, and supervise the disclosure of
information on sustainability, including the creation of
integrated reports.

Assess the importance of individual
issues identified

Discuss in the CSR Committee (under theumbrella of the Management Committee),the current “Sustainability Committee”
backed by the input from the external experts

In November 2019, we specified our “Materiality” that we should focus
on. We will sincerely face each materiality, contribute to the realization ofa sustainable society, and appropriately disclose the status of its efforts.

Voluntary Advisory Bodies

Resolution of the Board of Directors

Board ofDirectors
Management
Committee
Business, R&D, Administrative
Divisions, and Others

Remuneration Committee
Risk Management &Compliance Committee
Sustainability Committee

Carbon Neutral Committee
Office: Carbon Neutral OfficeGroup Companies

Sustainability targets (KPls) and results
Materiality
ThemesElements

Goals
Reduce greenhouse gas emissions

Reducing environmental impact
Harmony with the global
environment

Reduce pollution
Reduce water consumption

Realizing a recycling-oriented
society

Recycle waste
Use sustainable resources

2022
Scope

ActualTotal CO2 emissions for the Group in 2022: 2,408 thousand tCO2 (21% reduction from 2018)
This is result of primary efforts such as switching over to renewable energy and fuel switching

RatingReduce CO2 emissions by 25% (VS 2018) by 2030 and achieve carbon-neutrality in 2050

Consolidated

Specific numerical targets

Scope

〇

Reduce CO2 emissions by 25% (VS 2018) by 2030 and achieve carbon-neutrality in 2050

Consolidated

Dispose of all low-concentration PCB waste by March 31, 2025
Maintain zero environmental complaints against the Company (contamination of air, water, etc.)

Domestic group*1

Almost on target with about 62% of low concentration PCB waste having been disposed of〇

Reduce VOCs to 90% or less compared to 2015 level

Non-consolidated

Consolidated

No environmental complaints filed〇

Consolidated

ー

ー

ー

ー

Reduce water consumption (1% or more of reduction from FY2018)
Recycle 80% or more of waste
Final disposal rate of 25% or lower

Non-consolidated

4% reduction from FY2018
87% of waste recycled
18% final disposal rate〇〇〇

Maintain zero environmental complaints against the Company (contamination of air, water, etc.)
By the end of 2024, 30% of product packaging for transportation will be changed toenvironmentally friendly packaging
Reduce water consumption (less than the 2021 level)
Recycle 80% or more of waste
Final disposal rate of 25% or lower

ー

ー

ー

ー

Acquire ISCCPLUS certification at three CB plants in Japan by 2024

Chita Plant/Ishinomaki Plant/
Kyushu-Wakamatsu Plant

Devote 80% or more of development expenditures to reducing environmental burden

Domestic group*2
Tokai Konetsu Kogyo
Co., Ltd.
Domestic group*2
Tokai Konetsu Kogyo
Co., Ltd.

91% of development expenditures devoted to reducing environmental burden〇

Devote 90% or more of development expenditures to reducing environmental burden

Domestic group*2

Devote 60% or more of development expenditures to reducing environmental burden
Technological Innovation

Emphasize research and development

Make 80% or more of patent applications in areas related to reducing environmental burden
Make 70% or more of patent applications in areas related to reducing environmental burden

Supplying safe and secure
products
Contributing to society
through our businessSupply chain management

Respect for Human Rights

Conduct CSR survey of key suppliers on a consolidated basis
Revise Harassment Manual and conduct harassment training at domestic subsidiaries

Consolidated

Domestic group*1

Conduct annual human rights due diligence
Improve understanding of global human rights policy

Consolidated

Actively engage in community
contribution activities

Enhance disclosure of community contribution activities

Consolidated

Strengthening Corporate
Governance

Establish a consolidated governancesystemーConsolidated

Maintain ethical standards,
regulatory compliance

Commit no serious regulatory violations
Formulate a global code of conduct [tentative name] and inform subsidiaries around the world about it
Double the number of female employees in managerial positions (by the end of 2024)

Developing human resources

Promoting occupational healthand safety

Develop diverse human resources

Percentage of new female graduates hired for career-track positions: 30% on a non-consolidated basis

Consolidated

Non-consolidated

Domestic group*1〇

Devote 70% or more of development expenditures to reducing environmental burden

Tokai Konetsu Kogyo Co., Ltd.

〇

Make 90% or more of patent applications in areas related to reducing environmental burden

Domestic group*2

100% of patent applications filed in areas related to reducing environmental burden〇

Make 70% or more of patent applications in areas related to reducing environmental burden

Tokai Konetsu Kogyo Co., Ltd.

〇

Establish electrode consumption rate reduction technology(Rate for 2023: 3% reduction from 2022)

Consolidated

Increased 3.2% over the 2021 level (as of December 31, 2022)

Disseminate procurement policy to new suppliers on a consolidated basis and conduct CSR survey

Reduce CSR risks at suppliers

Consolidated*3

85.1% of development expenditures devoted to reducing environmental burden

Raise the ratio of mid-career hires in managerial positions (by the end of 2024)

Raise supplier awareness of CSR

Consolidated

Tokai COBEX

100% of patent applications filed in areas related to reducing environmental burden

Increase the number of non-Japanese employees in managerial positions (by the end of 2024)

Reduce electrode consumption rate (3% reduction from FY2021)

Contribution to community

Ensuring compliance

Strengthening ourmanagement baseDomestic group*1

Among target users, there was a reduction in the electrode consumption rate of 3% or more. The
overall target has been met since there are also users that have witnessed electrode consumption
rates that have surpassed planned targets
From April 2022, when we start regular transactions with new raw material suppliers, we will informthem about our procurement policy and conduct a CSR procurement survey
Report on the analysis results of a survey conducted on five key overseas base suppliers in 2022
Harassment Manual was revised. Harassment training was conducted at domestic subsidiaries(attendance rate: 100%, average score of comprehension test: approximately 90%)
Conducted human rights due diligence in 2022
Conducted training related to global human rights policy and due diligence
Total amount of donations and activity spending: approx. 48.4 million yen(donations to support Ukraine, donations to support regional culture and sports, etc.)
Community contribution activities: Cleanups, tree planting, food donations, etc.
Promotion of internal controls, North American operations holding company’s functional
upgrading, subsidiary management, etc., have been conducted as planned
Commit no serious regulatory violations
Formulated new Guidelines and Global Code of Conduct and promoted their adoption within the Group
Increased 1.66 times over the 2021 level (as of December 31, 2022)
Percentage of new female graduates hired (non-consolidated) who entered the company in April
2023: 40%
Conducted employment activities, including for management candidates, as planned

Further elevate quality

Raise employee awareness of humanrights2023

Specific numerical targets

〇

ー

ー

〇

Conduct CSR survey of key suppliers on a consolidated basis

Consolidated〇

Distribute Harassment Manual to domestic subsidiaries

Domestic group*1〇〇

Expand human rights due diligence to overseas subsidiaries
ー

Consolidatedーー

Enhance disclosure of community contribution activities

Consolidatedーー

Consolidated〇〇〇

Commit no serious regulatory violations
Consolidated
Create a business base aimed at building a global compliance system
Double the number of female employees in managerial positions (by the end of 2024)
Percentage of new female graduates hired for career-track positions: 30% on a non-consolidated
basis
Non-consolidated
Increase the number of non-Japanese employees in managerial positions (by the end of 2024)〇〇〇

Raise the ratio of mid-career hires in managerial positions (by the end of 2024)

Effectively implement training

Total training hours planned by head office (new-hire training/specialist training)

Domestic group*1

Specialist training in 2022: 1,747 hours, New-hire training in 2022: 1,674 hours〇

Total training hours planned by head office (new-hire training/specialist training)

Domestic group*1

Reduce occupational accidents

Reduce frequency rate (1.8 or lower)

Consolidated

Frequency rate: 1.20〇

Reduce frequency rate (1.20 or lower)

Consolidated*1 Tokai Carbon Co., Ltd. and its principal subsidiaries in Japan (i.e., Tokai Konetsu Kogyo Co., Ltd., Tokai Fine Carbon Co., Ltd., and Tokai Material Co., Ltd.)*2 Tokai Carbon Co., Ltd. + Tokai Fine Carbon Co., Ltd., and Tokai Material Co., Ltd.
*3 Tokai Carbon Co., Ltd. and its 9 principal subsidiaries (i.e., Tokai ErftCarbon GmbH, Tokai Carbon GE LLC, Tokai Carbon CB Ltd., Cancarb Limited, Thai Tokai Carbon Product Co.,Ltd., Tokai Fine Carbon Co., Ltd., Tokai Carbon Korea Co., Ltd., Tokai COBEX Polska sp. z o.o., Tokai COBEX Savoie SAS)

47

Tokai Carbon Co., Ltd.

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Sustainability

Sustainability

To a Carbon-Neutral Society
The Tokai Carbon Group is working to reduce total CO2 emissions with a goal of carbon neutral by 2050.
Recognizing that addressing climate change is an important management issue, and in November 2021, theGroup expressed its support for the Task Force on Climate-related Financial Disclosure (TCFD). We will takeappropriate measures toward achieving a carbon-neutral society by assessing the impact of climate change
on our business.

Tokai Carbon Group’s CO2 Emissions
Reduction Target

CO 2
emissions(Scope 1 and 2
company wide)

Tokai Carbon Group targets reducing CO2
emissions by 25% (VS 2018) by 2030 andachieving carbon-neutral in 2050.

2030 target:

2050 target:

25% reduction in
CO 2 emissions

CarbonNeutral

3,056
thousandtCO 2* The targets pertain to Scope 1 and 2 emissions company wide2018

(base year)

2,292

Net zero CO2emissions

thousand
tCO 2

2030

2050

Emissionstrading

Roadmap to Carbon Neutral
will also make capital investments in energy conservation.
In addition, we will actively use new technologies andinnovation towards net-zero carbon emissions in 2050. Amid
revolutionary technological advances worldwide to reduce
CO2 emissions, we will actively introduce technologies thatare likely to find full practical application.

2022-

2030-

2050

Reduce emissions
by making use ofexisting technologies

Make use of newtechnologies
and innovations

Achieve net-zero emissions● Carbon offset through CCUS, DAC,
methanation, etc. (Scope 1)● Mixed and pure combustion of hydrogen and ammonia (Scope 1)● Introduction of CCS at power plants, DAC (Scope 2)● Diversification of fuel types and fuel switching (Scope 1)● Electrification, use of renewable energy (Scope 1 and Scope 2)● Reduction of CO 2 emission factors for purchased electricity, reduction of electricity intensity, energy conservation, etc. (Scope 2)*CCS: Carbon dioxide Capture and Storage (Capturing and storing CO2) *DAC: Direct Air Capture (Technology for directly capturing and using CO2 in the air)
*CCUS: Carbon dioxide Capture, Utilization and Storage (Technology to utilize CO2 that has been isolated and stored)

49

Tokai Carbon Co., Ltd.

Carbon Neutral Committee
Chairperson: President Office: Carbon Neutral Office

We reorganized the Carbon Neutral Project launched in May
2021 into a Carbon Neutral Committee in February 2022 toreinforce the organization. Serving as a high-level command
tower for our carbon neutral efforts, it plans company wide
policies and strategies. It visualizes issues and actions andcentrally controls them. Under the committee, we have set
up different related meetings, technical subcommittees, andtechnical study groups to implement specific strategies andmeasures for increasing the Group’s competitiveness crossdivisionally.

Carbon Neutral
Steering Conference
Carbon Neutral
Technology Conference

Carbon Neutral BusinessSpecific Review Conference

Each technical subcommittee /investigation group

Response to Climate Change in Accordancewith TCFD Recommendations
We analyze the impacts of climate change on our businessin accordance with the TCFD recommendations and publish
information specified as disclosure requirements in the
TCFD recommendations and the results of scenario analysis
on our website.

Response to Climate Change
https://www.tokaicarbon.co.jp/en/sustanability/climate-change.html

GHG emissions (Scope 1 and Scope 2) (consolidated)

We will take steps to reduce CO2 emissions using existing
technologies to achieve a 25% reduction in CO2 emissions
by 2030, aiming for the earliest possible time. With respect to
raw materials, we are considering introducing nature-derived
and renewable resources. We will promote fuel diversificationand conversion, such as shifting from fossil fuels to electricenergy and utilizing renewable energy for manufacturing. We

Achieve a 25%
reduction as soon
as possible

Structure for Aiming Carbon Neutral★Third party assurance

2018

2019

2020

2021

2022

GHG emissions(thousand tCO2e)

3,056

2,687

2,232

2,409

2,408★

Scope1(thousand tCO2e)

2,430

2,164

1,825

2,070

2,018★

Scope2(thousand tCO2e)

626

523

406

339

391★

Calculation of Scope 1 and Scope 2 GHG emissions
Boundary

CO2

All the consolidated production sites, head office, branches, and laboratories (Tokai Carbon (Dalian) Co., Ltd., Tokai Carbon(Suzhou) Co., Ltd., Shanghai Tokai Konetsu Co., Ltd., Tokai Konetsu (Suzhou) Co., Ltd., and Tokai Carbon Europe Ltd. Italia
Branch were added in 2022)

CH4, N2O

Starting in 2022, major production sites that account for approximately 98% of consolidated CO2 emissions have been added
to the scope of the calculation
Japan

Overseas

Energy sources

Until 2020: April to March(Tokai Konetsu Kogyo: January to December)
2021 and after: January to December

January to December

Non-energy sources

January to December

Period covered

CO2

CH4, N2O-

January to December(*calculation period from 2022)

Calculation Method
CO2 equivalent emissions are calculated using the global warming potentials of CO2, CH4, and N2O gases. HFCs, PFCs, and SF6 are excluded from calculations
because these emissions are negligible.
Scope 1:	Direct GHG emissions from corporate activities, including energy-derived GHG emissions and non-energy-derived GHG emissions (emissions fromindustrial processes) are calculated. In principle, GHG emissions from non-energy sources are calculated from the amount of raw and auxiliary materials
used and the balance of products and waste.
Scope 2: ● Indirect GHG emissions associated with use of energy in corporate activities.
● The market-based method in the GHG Protocol is used. For emissions in Japan, the emission coefficient by electricity utility under the Act on
Promotion of Global Warming Countermeasures applies. For overseas emissions, emission coefficients published by electricity utilities are used,although the latest emission coefficients published by IEA or national and regional authorities are used for emissions from some plants.

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Sustainability

Sustainability

Respect for Human Rights

Supply Chain Management

At Tokai Carbon, we believe that consideration for human rights is important in order to realize our corporate
philosophy of “Ties of Reliability”. The Universal Declaration of Human Rights declares the “common standards
that all peoples and all countries must achieve” in order to respect and ensure human rights and freedoms, andwe support this declaration.

We recognize that maintaining a stable supply of high-quality products is our most fundamental responsibility,
and we are continuously striving to comply with various laws, regulations and social norms, and to reduce theenvironmental impact of our manufacturing processes.

Global Policy on Human Rights
In order to fulfill our corporate responsibility to respecthuman rights, we conduct business activities with a highsense of ethics based on the Guiding Principles for Businessand Human Rights. In July 2020, based on these international
regulations on human rights, we established the Tokai Carbon
Group Global Policy on Human Rights. Under this policy,
we will further promote initiatives to respect human rights as
Tokai Carbon Group. The Tokai Carbon Group Human Rights
Promotion Committee plays a central role in promoting thisglobal policy and the concept of respect for human rights.
We support the “Children’s Rights and Business
Principles”, too, because we believe that special
consideration is needed regarding children’s human rights
since they are vulnerable to violations of their rights. We
are also engaged in social contribution activities to avoid
violations of children’s rights in our business and to realize
children’s rights.

Provisions of Tokai Carbon Group Global Policy on Human Rights
1

Compliance with laws and regulations

2

Prohibition of discrimination

3

Prevention of child labor and slave labor

4

Support of basic labor rights

5

Reduction of excessive working hours and securing
rights to wages

6

Health and safety standards

7

Prohibition of harassment

8

Respect for privacy

9Prevention and mitigation of negative impacts onhuman rights

10

Response to human rights violations
Tokai Carbon Group Global Policy on Human Rights
https://www.tokaicarbon.co.jp/en/sustanability/pdf/human_rights.pdf

CSR procurement policy/Implementation of CSR procurement survey
In order to face global environmental and social issues asa concerned party, the Company has established the Tokai
Carbon Group Procurement Policy. For our new and priority
business partners, we request they agree with our Group
Procurement Policy and respond to the CSR Procurement
Survey to confirm their compliance status. Its major survey
items are determined in accordance with the Procurement
Policy.
The process is characterized by assessing business
partners based on the survey result and requesting them totake necessary improvement actions.

In 2022, we conducted a survey on our priority five raw
material suppliers located in overseas to assess the statusof existing business partners. The survey found that there
were no incidents that needed to be reviewed among thebusiness partners.
Tokai Carbon Group Procurement Policy
https://www.tokaicarbon.co.jp/en/sustanability/pdf/pdf_procurement.pdf

Tokai Carbon Group Implementation of CSR procurement
survey for our business partners
https://www.tokaicarbon.co.jp/en/sustanability/procurement.html

Occupational Safety and HealthAs its global safety policy, the Group has adopted “Safety is a critical core value shared by the entire Tokai
Carbon Group. We aim to provide a safe working environment for all people working in our plants by eliminatinghazards and reducing risks.”

Human rights due diligence

Initiatives for human rights awareness

The Tokai Carbon Group conducts human rights due
diligence to ensure corporate respect for human rights inorder to identify and assess, as well as prevent and address,
potential human rights risk arising from the entire value
chain and corporate-related human rights-issues. Suchissues shall be identified based on the engagement with our
stakeholders including employees, suppliers and business
partners.

Tokai Carbon conducts group-wide and division-specifictraining to instill an awareness of human rights in its employees.
Based on the Global Human Rights Policy of theTokai Carbon Group, training focuses on reinforcing an
understanding of the basic way of thinking about respecting
human rights. In doing so, it uses present-day examples,
including ones addressing discrimination, harassment,
violations of the rights of people with disabilities, andviolations of the rights of people from other countries. Humanrights training is conducted for employees who have been
newly hired or promoted to management. Particularly when
promoted to management, they are educated on humanrights issues such as bullying and harassment, by clarifying
harassment-based issues, and using actual examples ofmeasures taken in each case.
In 2022, human rights training was conducted with theparticipation of 1,060 employees at Tokai Carbon andpartner companies, and 625 employees at Group companies
in Japan. Harassment training was conducted with theparticipation of 209 employees at Tokai Carbon and 527
employees at Group companies in Japan.
Based on our awareness that human rights are thefoundation of sustainability, we have joined human rights
organizations for businesses in Tokyo, Osaka, and Nagoya.
We use our memberships in these organizations to share
information on and expand our understanding of humanrights to ensure that respect for human rights remains a key
aspect of our corporate culture.

Process of our human rights due diligence1

51

Identifying country risks

2

Defining the scope of assessment

3

Putting investigation into practice4

Assessing5

Monitoring and conducting improvement measures

Tokai Carbon Co., Ltd.

Health and safety management structure
The Group’s safety policy and initiatives are subject
to approval by the Executives Meeting and the Board of
Directors. At the Company, the Board of Directors supervises
occupational health and safety risks, and the director in
charge of risk reports to the Board of Directors on importantmatters such as occupational accidents as necessary.
In addition, we hold Central Work Committee meetings
attended by the director in charge of health and safety,
department managers in charge, and the labor union to

discuss health and safety issues and to work on continuous
improvement of health and safety. Further, we hold Healthand Safety Committee meetings at each site with theparticipation of managers and supervisors at each site andthe labor union to report and discuss matters related tooccupational health and safety. Cooperating companies towhich the Company outsources its work also participate in
the Health and Safety Committee meetings as observers.

Improving occupational safety and healthIn order to eliminate hazards and reduce risks, the Group
promotes the implementation of risk assessments andcountermeasures. In the risk assessment, we evaluate therisks that lead to injury and the risks that affect health, clarify
the priorities for the identified risks, and improve the work
environment. When installing new production equipment
or refurbishing existing equipment, we conduct risk
assessments from the equipment design stage, and work to
reduce risks in advance if the risks are high. For work-related
injuries (occupational accidents), poor physical condition,and serious incidents, we first grasp the situation throughon-site verification, thoroughly investigate the root causethrough the five whys analysis, and formulate measures toprevent recurrence to confirm its effectiveness. Moreover,in order to prevent similar accidents, we share informationon the details and countermeasures with all business sites.
In addition to these initiatives, we conduct safety education
to enhance our safety awareness. In 2022, 118 employees,
including newly hired employees, participated in training
provided by an external organization in order to improve their
sensitivity to danger. We also held a training session using
virtual reality (VR) for people to experience danger, with 67
participants in 2022. Furthermore, we are conducting safety
training with the aim of thoroughly enforcing safety rules within
our workplaces and measures to prevent the recurrence of pastoccupational accidents, and in 2022, the training program wasprovided to 106 employees who have been with the Company
for less than five years at all of our business sites.

Integrated Report 2022

52

Sustainability

Sustainability

Corporate GovernanceTokai Carbon recognizes that enhancing medium- to long-term corporate value is the most important management
objective. We believe that responding to the expectations of all stakeholders, including customers and shareholders,and building favorable relationships, are essential in achieving this objective. To this end, we embrace the basic
philosophy of “Ties of Reliability”. Through this philosophy and the policies and values outlined in our Guidelines andGlobal Code of Conduct, we are working to develop an effective corporate governance structure.

Subjects discussed at the Board of Directors in fiscal 2022
Subject category

As a company with an Audit & Supervisory Board, Tokai
Carbon focuses on enhancing the effectiveness of audits
by Audit & Supervisory Board members and our internal
audit functions. At the same time, we work to strengthen
the management supervision functions of the Board of
Directors by appointing multiple external directors andestablishing voluntary committees to realize an appropriate

corporate management structure. Furthermore, to clarify thefunctions and responsibilities of corporate officers engaged
in business execution, we have adopted an executive officer
system and established a Managing Executives Meeting toenhance and strengthen the business execution functions of
the organization.

General Meeting of Shareholders
Appointment/
Dismissal

Appointment/
Dismissal

Accounting Auditor

Appointment/
Dismissal

Voluntary Advisory Bodies

Audit & Supervisory Board

Board of Directors

Nomination Committee

Audits execution of duties
by board members andexecutive officers

Oversees execution of duties
by board members andexecutive officers

Appointment/dismissal of directors

Remuneration Committee
Determination of remuneration for board
members and executive officers

President
Management Committee

Other

3.8%

Reports on financing, investments, andmarket risk management

Management strategy
and sustainability

Reports on the state of internal control andinternal audits

Human resourcesand organization

Management
strategy andsustainability

Governance,risk management,
and subsidiarymanagement

15.2%

Risk Management & Compliance
Committee reports

43.2%

Establishment of new subsidiary plant/
Expansion of existing plants

Accounting andfinance

Corporate governance system (as of April 1, 2023)

Topic
Analysis and evaluation of the effectivenessof the Board of Directors

Governance, risk
management,
and subsidiarymanagement

Corporate governance system

Subject category

Accounting
and finance

Board member and executive officer
candidates

18.9%

Organizational/regulation revisions
Financial statements
Human
resources andorganization

Annual budget plans
Formulation of long-term vision andmedium-term management plans

18.9%

Sustainability Committee and Carbon
Neutral Committee reports

Steps in strengthening
governance● Established the Sustainability Committee as a voluntary advisory body to theBoard of Directors● Established the Carbon Neutrality Committee● Formulated our long-term vision for 2030

Risk Management & Compliance Committee● Newly-formulated the Global Code of Conduct

Risk governance advice● Started governance training for subsidiaries to strengthen group

governance2022

Sustainability Committee

Internal Auditing Office

Proposals on sustainability2021● Established committees including the Nomination Committee,
Executive bodies
Chairman (Board of Directors)/Chairperson (committees)

External/Independent

Internal

Control

Audit

Cooperation* Including Audit & Supervisory Board members

Remuneration Committee, Risk Management & Compliance
Committee as voluntary advisory bodies to the Board of Directors● Established the Management Committee● Monthly meetings of the Board of Directors and clarification ofmatters to be discussed● Appointed multiple independent external directors● Started rating theBoard of Directors
The Board of Directors is responsible for making decisions
on important management matters and overseeing businessexecution. In principle, the Board meets monthly. As of April
1, 2023, there are eight directors, including three external
directors. The Nomination Committee and Remuneration
Committee, for which the majority of members are external

effectiveness of the Boardof Directors on an annual
basis

directors, have been created as voluntary advisory bodies for
the Board of Directors. The Risk Management & Compliance
Committee and Sustainability Committee, also voluntary
advisory bodies, have been established immediately underthe Board of Directors.

2018

2017

53

Tokai Carbon Co., Ltd.

policies and audit plan adopted by the Audit & Supervisory
Board. Audit & Supervisory Board members attend Boardof Directors’ meetings and other important meetings andinvestigate the status of business operations and assets toconfirm the status of business execution by directors.

2019● Formulated

Global Policyon HumanRightsGroup Sustainability Policy● Changed system so that at least 1/3 ofthe directors are independent external
directors, and appointed a female
external director● Formulated the Business Portfolio
Management Policy● Disclosure of climate change risks
and opportunities in line with TCFD
recommendations● Disclosure of the skill matrix of theBoard of Directors● Established and started operation of a global financial andtax management system● Formulated the Tokai Carbon Group Procurement Policy

Audit & Supervisory Board members and the Audit & Supervisory Board
As a general rule, the Audit & Supervisory Board of theCompany meets monthly. As of April 1, 2023, there are four
Audit & Supervisory Board members, of whom two are External
Audit & Supervisory Board members. Audit & Supervisory
Board members perform audits based on the auditing● Newly established the Tokai Carbon

2020

2016

● Started building the ESG management foundation● Established independence standards for external officers● Introduced Group internal reporting system

Integrated Report 2022

54

Sustainability

Sustainability

ComplianceCorporate GovernanceIn line with our Basic Policy of “Ties of Reliability” and our Action Guidelines of “Integrity,” “Innovation,”Management Committee“Challenge,” “Co-creation,” and “Agility,” we have drawn up the Global Code of Conduct and other

The Company has established the Management Committee under the
Board of Directors. This committee deliberates and makes decisions onimportant management matters per basic policies adopted by the Boardof Directors. The Management Committee meets once a week, in principle,with participation from executive officers and Audit & Supervisory Board
members, etc. To assist the Management Committee with its work, we havealso established committees to deliberate certain matters and report theirfindings to the Management Committee for higher-level consideration.

Tokai Carbon Group Corporate governance reporthttps://contents.xj-storage.jp/xcontents/AS04435/9e046a1a/ce20/4f31/bfe3/2fae5188d3a0/20230419150237101s.pdf

Strengthening the effectiveness of the Board of Directors
In 2016, Tokai Carbon established the Nomination Committee,
Remuneration Committee, Management Committee, and Risk Management& Compliance Committee to radically strengthen governance system led by
the Board of Directors. What is special about this is that our three outside
directors actively attend important meetings other than meetings of theBoard of Directors to deepen their understanding of significant subjects. The
effectiveness evaluation reported that the outside director’s impartial andobjective comments were of great assistance in improving the supervisory
functions of the Board of Directors.
In 2022, the Board of Directors conducted an effectiveness analysis
and evaluation based on (1) quantitative and qualitative analysis of theoperational performance and status of the governance system, including
the Board of Directors and the Management Committee, (2) the results ofa questionnaire survey of all directors and corporate auditors regarding
the composition and operation of the Board of Directors and provision of

information to outside officers, and (3) the results of individual interviews
with external officers.
The new governance structure has largely been established. In addition
to the initial results being adequately maintained, in 2022, in accordancewith the Sustainability Policy and the Business Portfolio Management Policy
newly established in 2021, we steered toward strengthening sustainability
management and business portfolio management, expanded mattersreported by the Board of Directors, and discussed crisis events such as theimpact of the Ukrainian crisis and the emergency response to Taiwan. We
believe that we have been able to further improve the effectiveness of thesemeasures.
As future issues, we will continue to work on higher level themes such as(1) linking our sustainability (including carbon neutrality) and management
strategies, and (2) sophistication of business portfolio management.

Establishing an internal control system
To ensure that Tokai Carbon Group properly executes business operations
per relevant laws, regulations, and the Articles of Incorporation, theCompany continuously improves its internal control system. Improvements

are undertaken following the “Basic Policy for Establishing an Internal
Control System,” which was adopted at the May 2006 meeting of the Boardof Directors and revised as necessary.

55

Tokai Carbon Co., Ltd.

Management Structure
The Risk Management and Compliance Committee, an advisory bodyto the Board of Directors, discuss important matters concerning risk andcompliance, such as risk countermeasures for the entire company. At thesame time, it provides advice to relevant departments and sections basedon the outcome of the discussion, reports the progress, and proposes, forexample, countermeasures to the Board of Directors.

In addition, we have created a Compliance Manual based on our Action
Guidelines and Global Code of Conduct. This guidebook provides behavioral
standards required by all our officers and employees in conducting their
day-to-day duties. It is of some help to entrench the strict practice ofcompliance in the company.

Internal reporting system
We have introduced an internal reporting system for receiving reports
from employees who have found out about legal violations or fraud (orsigns thereof), including any acts linked to corruption such as bribery etc.
by executive officers or employees. We have established in-house contact
points (Legal Affairs Department, Audit & Supervisory Board Member)and external contact points (legal advisors) to receive reports or requests
for advice by phone, fax, email, letter, etc. Reports can also be madeanonymously. In addition, we also have a system allowing us to respondto reports from external third parties, reports received in a foreign language
and reports received by persons other than the prescribed points of contact.
The Company’s Guidelines on Handling Internal Reports clearly state that,apart from cases when the system is deliberately misused, informants will
not be dismissed or subjected to unfair treatment under this system, thereby

Prevention of bribery and other corrupt behavior
the Board of Directors, candidates for Director and Audit & Supervisory
Board positions are submitted to the General Meeting of Shareholders forapproval.
The Company discloses the reasons for nominating internal and external
candidates for Director and Audit & Supervisory Board positions in referencematerials provided for the General Meeting of Shareholders.

Executive remuneration
At Tokai Carbon, executive remuneration is composed of basic
remuneration, which is a fixed amount, and performance-based
remuneration, which varies depending on performance. For directors
with executive responsibilities, the proportion of variable remuneration
is designed to rise with executive rank, considering the significance of amanager’s responsibilities. Revisions and decisions regarding the executive
remuneration system and the performance evaluations and remuneration
for individual executives, are based on deliberations by the Remunerationhigh sense of ethics while also complying with the relevant laws, rules, and regulations.

ensuring the appropriate implementation of the system. Specifically, ourcompany’s Legal Affairs Department Manager is responsible for conducting
an investigation into facts reported by an informant, while strictly maintaining
the confidentiality of the informant. If it becomes clear after an investigationthat an illegal act was committed, we will take corrective actions andrecurrence-prevention actions, and impose a punishment under theemployment regulations. At the same time, we have a system whereby all
our employees and stakeholders can report to an external point of contact
without worries. We are making efforts to increase everyone’s awareness of
this system, by including it in the Compliance Manual and internal rules, andannouncing it using various tools, including in-house seminars, an in-housemessage board and in-house newsletters.

Prevention of corruption

Management Appointment Process
The appointment of Directors, Audit & Supervisory Board Members
and Executive Officers begins with the formulation of recommendations
by the Nomination Committee, which is an advisory body to the Board of
Directors and consists of one internal board member and three externalboard members. The Nomination Committee prepares its recommendations
by comprehensively considering the experience, knowledge, expertise,and other qualities of internal and external candidates. After approval byregulations for implementing fair business activities. We are working to conduct corporate activities with aCommittee, which is chaired by an external director and includes external
officers as members.
In addition, at the FY2019 Annual Meeting of Shareholders held on
March 27, 2020, a proposal was approved that directors (excluding external
directors) are provided with remuneration to add shares with restriction ontransfer, separate from maximum remuneration approved at the General
Meeting of Shareholders.

Our Global Code of Conduct stipulates that we conduct our businessthrough fair competition and maintain sound and normal relationships with
political parties, government, and business partners. In addition, we clearlystate that we will comply with laws and regulations and conduct businessactivities based on social norms and common sense. Therefore, we prohibit
and strive to prevent bribery, such as proposing or providing profits as
consideration for convenience, requesting or accepting profits from cash,
excessive entertainment, services, etc., or acts suspected of bribery. We
also prohibit employees from engaging in corruption, such as stealing

company funds or undertaking money laundering.
In FY2022, there was no exposure of corrupt behavior and no fines ormonetary penalties paid. There was no disciplinary action taken against any
employee due to corrupt behavior. We did not offer any political donations.

Supervision of the Board of Directors against corruption
The Board of Directors oversees initiatives on compliance, including theprevention of bribery and other corruption, and receives reports from the
Risk Management & Compliance Committee.

Education and training
To raise awareness of our comprehensive ban on corruption, including
bribery, we make our anti-corruption policy known to employees in training.
We continually provide compliance training for officers, personnel inmanagerial positions, and new employees, with both internal and external

instructors.
We also distribute compliance message videos internally and publish
related articles in our in-house magazine to improve compliance awarenessamong our officers and employees.

Integrated Report 2022

56

Sustainability

Sustainability

Management (As of April 1, 2023)

Title

President & Chief Executive
Officer

Name

Hajime Nagasaka Masafumi Tsuji Katsuyuki Yamaguchi Shunji Yamamoto Tatsuhiko Yamazaki

Nobumitsu Kambayashi Mayumi Asada Toshiro Miyazaki Yuji Serizawa Kazuyuki Kakehashi Kaoru Ogashiwa Yoshinori Matsushima

Date of birthJanuary 9, 1950

January 10, 1963

March 29, 1964

March 08, 1962

November 22, 1964

May 28, 1948

February 5, 1968

August 21, 1949

December 27, 1959

December 7, 1951

January 7, 1967

Term of office

17 years

6 years

4 years

4 years－

7 years

2 years

1 year

－7 years

3 years－

October 1990
Joined Research Center
Management Consulting Institute,
New Japan Securities Co., Ltd(currently Japan Investor Relations
and Investor Support, Inc.)

November 1997
Joined Deloitte Touche Tohmatsu

April 1972
Joined Tokai Electrode Mfg. Co.,
Ltd. (currently the Company)
March 2006
Member of the Board/Executive
Officer
Deputy General Manager, Carbon
Black Division
March 2008
Member of the Board/Managing
Executive Officer
Deputy General Manager, Carbon
Black Division
March 2011
Member of the Board/Senior
Managing Executive Officer
General Manager, Carbon Black
Division

Career Summary

March 2013
Representative Member of theBoard/Senior Managing Executive
Officer in charge of Carbon Black
Division and Graphite Electrode
Division
March 2014
Representative Member of theBoard/Executive Vice President incharge of Carbon Black Division,
Graphite Electrode Division,and Raw Material Procurement
Department
February 2015
Representative Member of theBoard/President & Chief Executive
Officer (incumbent)

Member of the Board/
Executive Officer

Member of the Board/
Executive Officer

Member of the Board/
Executive Officer

Member of the Board/
Executive Officer

April 1986
Joined the Company

April 1988
Joined the Company

April 1985
Joined the Company

April 1985
Joined the Company

March 2015
Executive Officer
General Manager, Carbon Black
Division

March 2018
Executive Officer
General Manager, Technology &Engineering Division

June 2015
General Manager, Production &Technology Department, Carbon
Black Division

March 2016
General Manager, Production &Technology Department, Carbon
Black Division

January 2016
Executive Officer
General Manager, Graphite
Electrode Division

March 2019
Member of the Board/Executive
Officer
General Manager, Technology &Engineering Division

March 2016
THAI TOKAI CARBONPRODUCT CO., LTD.
Director, Managing Director

March 2017
Business Director
General Manager, Sales
Department, Carbon Black Division

March 2018
Executive Officer
THAI TOKAI CARBONPRODUCT CO., LTD.
Director, Managing Director

January 2020
Business Director
THAI TOKAI CARBONPRODUCT CO., LTD.
Director, Managing Director

March 2019
Member of the Board/Executive
Officer
Director, Tokai Carbon CB
Genpar LLC

March 2023
Member of the Board/Executive
Officer
THAI TOKAI CARBONPRODUCT CO., LTD.
Director, Managing Director(incumbent)

March 2017
Member of the Board/Executive
Officer
General Manager, Fine Carbon
DivisionJanuary 2020
Member of the Board/Executive
Officer
Deputy Chairman, Corporate
Planning Department, Strategic
Investment Department, and Sales
Research & Planning Department
General Manager, Corporate
Planning Department

March 2021
Member of the Board/Executive
Officer
General Manager, R&D Strategy
Division General Manager,
Intellectual Property Department(incumbent)

March 2023
Member of the Board/Executive
Officer General Manager,
Technology & Engineering Division(incumbent)

September 2022
Member of the Board/Executive
Officer
responsible for Corporate Planning
Department, Affiliated Company
Business Management Department,
Strategic Investment Department,
Sales Research & Planning
Department, and New Business
Promotion Department
General Manager, Corporate
Planning Department

Committees

Attendance at meetings of the Board of Directors in FY2022

External Director(independent officer)

April 1971
Joined Kawasaki Heavy Industries,
Ltd.

October 2002
Registered as an attorney-at-law
Joined Hiranuma Takaaki Law Office

June 2002
Director, Kawasaki Shipbuilding
Corporation

January 2014
Representative, Marunouchi Building
Aoi Law Office (incumbent)

April 2008
Managing Executive Officer,
Kawasaki Heavy Industries, Ltd.
Director/Senior Vice President,
Kawasaki Shipbuilding Corporation

March 2014
Acquired Doctor’s degree in
Medicine at the Juntendo University
Graduate School of Medicine

April 2010
President & Representative Director,
Kawasaki Shipbuilding Corporation
Senior Vice President (part-time),
Kawasaki Heavy Industries, Ltd.
October 2010
Senior Vice President(Representative Director), Kawasaki
Heavy Industries, Ltd.
President, Ship & Offshore Structure
Company

April 2020
Business Director, Incorporated
Educational Institution Nikaido
Gakuen (incumbent)
March 2021
External Director of the Company(incumbent)

March 2011
Representative Director, President,
MODEC, Inc.
March 2019
Director, Chairman of the Board,
MODEC, Inc.

March 2012
Member of the Board/Executive
Officerin charge of Fine Carbon Division
General Manager, Fine Carbon
Division
March 2014
Executive Officer
General Manager, Graphite
Electrode Division
March 2015
Member of the Board/Executive
Officer
General Manager, Graphite
Electrode Division
January 2016
Member of the Board/Executive
Officer
General Manager, Corporate
Planning Division

June 2015
Chairman, Japan Ship Technology
Research Association (incumbent)

March 2017
Member of the Board/Executive
Officer
responsible for Human Resources
Department, General Affairs
Department, and Legal Affairs
Department

March 2016
External Director of the Company(incumbent)

March 2023
Audit & Supervisory Board Member(full-time) (incumbent)

April 1975
Joined Toyo Carbon Co., Ltd.
(currently the Company)
March 2001
General Manager, Production &Technology Department, Fine
Carbon Division
March 2004
General Manager, Tanoura Plant
March 2009
General Manager, Shonan Office
General Manager, Chigasaki Plant
Industrialization Group Manager,
R&D Strategy Division
March 2010
General Manager, R&D Planning
Department, R&D Strategy Division
August 2010
Member of the Board, Tokai
Konetsu Kogyo Co., Ltd.
March 2015
Managing Executive Officer, Tokai
Konetsu Kogyo Co., Ltd.

External Auditor(independent officer)

December 1992
Registered as a Certified Tax
Accountant
Representative, Ogashiwa Kaoru
Certified Tax Accountant Office(incumbent)
June 2005
Corporate Auditor, Senkon Logistics
Co., Ltd.

External Auditor(independent officer)

February 7, 1968

May 2001
Registered as a Certified Public
Accountant
Representative, Matsushima
Certified Public Accountant Office(incumbent)
May 2006
Registered as a Certified Tax
Accountant
March 2023
External Auditor of the Company(incumbent)

June 2017
External Director and Audit andSupervisory Committee Member,
Senkon Logistics Co., Ltd.
(incumbent)
May 2019
External Auditor of the Company(incumbent)

March 2016
Audit & Supervisory Board Memberof the Company
May 2019
Audit & Supervisory Board Member(full-time) (incumbent)

June 2017
External Director, Inui Global
Logistics Co., Ltd. (incumbent)

59,662 shares

32,205 shares

9,500 shares

22,338 shares

23,200 shares

6,500 sharesー

65,662 shares

19,900 shares

400 shares

ー

21/21

21/21

21/21

－

21/21

21/21

17/17

21/21

21/21

21/21

ー

Chairperson●●

Chairperson●●

Remuneration Committee●

Risk Management & Compliance Committee

Chairperson

Sustainability Committee

Chairperson●

Corporate management

●

●

●

●

●

●

●

●

●

●

●

●

●

●

●
●

●

Legal affairs and risk management
Skills matrix

March 2008
Director, MODEC, Inc.

April 1984
Joined the Company

Audit & Supervisory Board
Member (full-time)

21/21
●

●

●

●
●

Manufacturing, technology, and ICT
Sales and marketing●

Personnel and HR development●●

ESG and sustainability●●

Tokai Carbon Co., Ltd.

June 2007
Director, Finance, Accounting,and Investor Relations andCommunications, Mitsui
Shipbuilding & Engineering Co., Ltd.

March 2022
External Director of the Company(incumbent)

Finance and accounting

57

April 1972
Joined Mitsui Shipbuilding &Engineering Co., Ltd. (currently
Mitsui E&S Holdings Co., Ltd.)

Audit & Supervisory Board
Member (full-time)

156,847 shares

Nomination Committee

Global business

External Director(independent officer)

March 2020
Executive Advisor, MODEC, Inc.

June 2013
Senior Advisor, Kawasaki Heavy
Industries, Ltd.

March 2023
Member of the Board/Executive
Officer
Executive Officer responsible for
Human Resources Department,
General Affairs Department,
and Legal Affairs Department(incumbent)

Number of shares held

External Director(independent officer)

●

●

●

●

●
●

●

●

●

●

●

●

●
●

●
●

●

●

●

●

●

●

●

Integrated Report 2022

58