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Nichirei Group Materiality

Material Matters

Long-term Management Goals(Vision for 2030)

Nicihrei Corporation, Strategic Planning, Nichirei Corporation, Quality Assurance Division, Nichirei Corporation, Technology Management, Nichirei Corporation, Corporate Internal Audit, Nichirei Corporation, Corporate Supervise, Nichirei Corporation, Legal Affairs, Nichirei Corporation, Human Resources Strategy & General Affairs, Nichirei Corporation, Finance & Investor Relations, Nichirei Corporation, Accounting & Tax, Nichirei Corporation, Group Communication, Nichirei Foods Inc., Nichirei Fresh Inc., Nichirei Logistics Group Inc., Nichirei Biosciences Inc., Hitachi Foods & Logistics Systems,Inc., NIchirei Bisiness Partners .inc

Material Matters

In 2020, the Nichirei Group identified five material matters and set a vision for each of them in order to achieve its long-term management goals for 2030. We are conducting sustainability management that achieves both the resolution of social issues and business growth by addressing these material matters.

We will leverage our strengths as we develop business in fields that support good eating habits and health and work on the following five material matters.
Nichirei Group Material Matters Vision for 2030 Group Measures Group KPIs for FY2031 Applicable SDGs
Creating new value in food and health*1 Create new markets and customer value by taking on challenges outside existing business areas in both food and health Discover the potential of materials and cooling power to contribute to the future of the Earth and people’s mental and physical health through food
  • Allocate resources to R&D to investigate health, the global environment and diversifying customer value, as well as to marketing
  • Develop products and services and convey information to address people’s mental and physical health and the global environment
  • Establish mechanisms to create and cultivate value in new fields and conduct innovation activities
  • Sales of products and services that create added value for people’s mental and physical health and the global environment: ¥140.0 billion
  • People provided with information for good eating habits and health (total number of people per year): 200 million
Strengthening food processing and production technology capabilities; enhancing logistics services Further refine core competencies in food processing, production and logistics to resolve social issues and improve profitability through competitive advantages in global markets Ability to generate cash improved by concentrating management resources on core businesses Promote capacity expansion, work process innovation, reduction of environmental impact and development of business foundations through proactive capital expenditures in the processed foods and temperature-controlled logistics businesses
  • EBITDA margin: 12%
  • EBITDA CAGR: 7% or higher
Overseas business has become a new pillar of earnings Accelerate overseas expansion by securing and training global human resources, cultivating partner companies, conducting M&A and other means
  • Overseas sales ratio: 30%
Realizing sustainable food procurement and a circular economy Resolving various social issues related to the supply chain, which is the foundation of our business, and contribute to sustainable food procurement and the realization of a circular economy All raw materials and ingredients are procured from suppliers and partner companies that comply with the Nichirei Group Supplier Code of Conduct and Supplier Guidelines. Establish a supply chain with consideration for human rights and the environment and conduct due diligence
  • Rate of procurement from suppliers and OEMs that comply with the Nichirei Group Supplier Code of Conduct and Supplier Guidelines: 100%
  • Rate of implementation of ESG due diligence for main raw materials and major suppliers: 100%
Promoting a circular economy by creating new business models Work to conduct sustainable resource procurement and help to realize a circular economy
  • Rate of attendance for the SDGs educational program aimed at realizing a circular economy: 100% (all employees)
  • Rate of waste recycling at all sites: 99%
  • Procurement ratio of sustainable marine products in accordance with the guideline: 100%*2
  • Procurement ratio of MSC and ASC products: 50%*2
  • Procurement ratio of sustainable Palm oil (RSPO) : 100%*2
Improving resilience of water resources through an understanding of water-related risks Identify water-related risks through risk assessments at all sites and conserve water
  • Conduct regular water-related risk assessments at all sites, as well as in conservation activities and the BCP
Climate change initiatives As a food and logistics company that is greatly affected by climate change, we will work with stakeholders to counter global warming and reduce energy consumption throughout the supply chain Efforts underway to reduce CO₂ emissions both inside and outside the Group toward the goal of becoming carbon neutral by 2050 Reduce CO₂ emissions per unit of production and utilize renewable energy at food factories and logistics centers, and disclose information based on the TCFD recommendations
  • Reduction in CO₂ emissions: 50%
    (Compared with FY2016; Scope 1 and 2 in Japan)
Elimination of CFCs progressing at production and logistics facilities as a global warming countermeasure
  • Replace all refrigerants used in freezing and refrigerating equipment in Japan with natural refrigerants
  • Switch to natural refrigerants overseas as necessary, based on on-site confirmation
  • Rate of conversion to natural refrigerants Production equipment (Japan): 100% Logistics (Global): 75%
Securing and developing a diverse array of human resources Secure and develop a diverse human resources and foster an inclusive corporate culture to achieve sustainable growth Diverse human resources with various characteristics and skills, maximizing their potential to improve their job satisfaction and support the sustainable growth of the Group
  • I ntroduce a Group-wide engagement survey* to monitor the effectiveness of measures
  • Establish a personnel system that enables Group employees to choose work styles according to their career outlook and contributes to productivity improvement
  • Establish and provide support for application of rules
  • *Engagement survey: A survey that shows degree of understanding of and resonance with the Management Philosophy and independent involvement in the organization (job satisfaction)
  • Ratio of female directors and female Audit & Supervisory Board members
    (HD*): 30% or higher
  • Ratio of female line managers (HD*): 30% or higher
  • *HD: Nichirei Corporation (Holding Company)
  • Promote communication activities and impartially provide learning opportunities in order to create a work environment and corporate culture in which employees are healthy, lively and satisfied with their jobs
  • Double investment in human resources by 2030*
  • *Compared with the average annual investment in human resources in FY2019-FY2021
  • *1The vision for 2030, Group measures and Group targets and KPIs for FY2031 for material matter 1, “Creating new value in food and health,” were revised by the Board of Directors of Nichirei Corporation on July 18, 2023.
  • *2For material matter 3, “Realizing sustainable food procurement and a circular economy,” in April 2023 the Nichirei Group established procurement guidelines for marine products and palm oil, which are important food resources underpinning its business activities, and added related Group targets and KPIs.
Nicihrei Corporation, Strategic Planning, Nichirei Corporation, Quality Assurance Division, Nichirei Corporation, Technology Management, Nichirei Corporation, Corporate Internal Audit, Nichirei Corporation, Corporate Supervise, Nichirei Corporation, Legal Affairs, Nichirei Corporation, Human Resources Strategy & General Affairs, Nichirei Corporation, Finance & Investor Relations, Nichirei Corporation, Accounting & Tax, Nichirei Corporation, Group Communication, Nichirei Foods Inc., Nichirei Fresh Inc., Nichirei Logistics Group Inc., Nichirei Biosciences Inc., Hitachi Foods & Logistics Systems,Inc., NIchirei Bisiness Partners .inc