The Showa Sangyo Group has stipulated three materiality themes and seven materialities in order to advance initiatives for achieving sustainability.
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Materiality Establishment Process
1. Extracting Social Issues
Referring to global guidelines like SDGs, ISO26000, UNGC, and SASB, our Group has prepared a relationship between “importance for society” and “importance for business.”
2. Identifying ESG Critical Issues (up to FY2018)
We evaluated various social issues from the two perspectives of “importance for society” and “importance for business.” As a result, ESG Critical Issues were established for social issues highly relevant to society and highly linked to our Group business after passing through discussion in the CSR Committee (now the Sustainability Committee).
3. Investigating Response Policy for Critical Issues (FY2019)
Regarding ESG Critical Issues, in order to find comprehensive solutions, we examined the relationships among issues and established three critical items (consideration for the environment; evolution of grain solutions; employee activity promotion) and seven critical issues (sustainable production activities; sustainable resource utilization; diverse value response; safe, reliable, stable supply; diversity; health and productivity management; corporate citizen activities).
In the “Medium-term Management Plan 20-22,” we detailed and promoted the seven critical issues for each business.
4. Renewal of the Critical Issues (FY2023)
We reconsidered the critical issues upon hearing the opinions and hopes expressed in dialogue with stakeholders and seen in social conditions. We evaluated (mapped) the various social issues taking “importance to stakeholders” as the vertical axis and “influence on Group business” as the horizontal axis.
Mapping
The Showa Sangyo Group has stipulated three materiality themes and seven materialities based on the evaluation results from this mapping and their relationships in order to advance initiatives to achieve sustainability.
In our current “Medium-term Management Plan 23-25,” we detail and promote our initiatives for achieving sustainability and implementing business strategy for each business based on the risks and opportunities related to these materialities.
