Toyota Boshoku's Materiality
At the Toyota Boshoku group, as we strive to transform from CSR*1 to CSV*2 management, we have been enhancing our corporate value by contributing to the realisation of a sustainable society through our core business. This way of thinking can be deemed the business spirit of 'for the world and for people', inheriting for generations from the Principles of Toyoda that are Toyota Boshoku group's company creed.
In moving towards enhancing corporate value, we formulated the materiality as 'the Toyota Boshoku group prioritises the identification and resolution of important social issues that it prioritises in its core business among various social issues'.
Toyota Boshoku's materiality is periodically reviewed by the CSV Promotion Meeting, which takes changes in the business environment into account and effects appropriate revisions. We also devised a mid-term business plan oriented towards achieving materiality, and are monitoring progress and conducting follow-up by means of the KPI Tree of Business Management Structure.
- *1 Corporate Social Responsibility
- *2 Creating Shared Value
Way of Thinking Behind Materiality
- 1) The dual structure to resolve ‘Issues Relating to Safety, Environment, and Comfort to Resolve through Core Business’ and ‘Issues Relating to the People and Organisations that are Our Sources for Exercising competitiveness’
- 2) Stratification into ‘maximising positive impacts’ so as to enrich people and daily lives, and ‘minimising negative impacts’ so as to avoid risk
Identification of Five Aspects of Materiality
Toyota Boshoku's Materiality
The Meaning and Concepts of Materiality
Together with further arranging and organising the meaning and concepts of Toyota Boshoku's Materiality, we shall devise the 2025 mid-term business plan oriented towards realising Toyota Boshoku's Materiality.
|Issues Relating to Safety, Environment, and Comfort to Resolve through Core Business|
|1)||As an Interior Space Creator, we will contribute to people's quality of life, creating comfort, safety, and reassurance through innovation||Toyota Boshoku group has grown from the textile business to the automotive interior business, contributing to enhancing safety and reassurance in daily lives for the world and for people, and will evolving into an Interior Space Creator providing products and services such as those that make use of biological information from sensors to achieve comfort, which is the ability of people to live without unease and true to their own selves (i.e., to achieve smart cities).||
|2)||Using our established technical capability, we will contribute to realise a society with no traffic casualties through providing products that assure safety||To contribute to the ambitious target of a society of 'zero traffic casualties', we will continue to offer high-quality, high-safety products (integrated seats, seatbelts, airbags, and other such products) and services that make full use of R&D that is part of Toyota Boshoku's identity.||
|3)||Together with our business partners, we will realise MONOZUKURI innovations that minimise environmental stress||Aiming for a sustainable global environment in which children can live in smiling happiness, we will make effective use of business resources and achieve the targets of our 2050 Environmental Vision, including zero CO2 emissions, zero wastewater from production processes, minimising quantities of natural resources used, and minimising waste produced, by working with our business partners to accomplish innovation and improve productivity in MONOZUKURI (and all manufacturing -related processes) by means of the latest leading-edge technologies.||
|Issues Relating to the People and Organisations that are Our Sources for Exercising Competitiveness|
|4)||We will develop people capable of contributing to society, who have diverse values, a challenging spirit and understand the value of strong teamwork||To continue taking up the challenges of the matter of solving the world's problems, we will develop autonomous human resources capable of marshalling other human resources around the world, understanding ideas and ways of thinking, mutually accepting one another, and thinking together.||
|5)||We will continue to be a company of integrity trusted by all our stakeholders, inheriting our tradition of fairness and moral behaviour to the next generation||Henceforth as well, to continue being a company that is trusted by all stakeholders and grows together with them, as we have since our founding, we will continue practicing the values of 'ensuring that our corporate activities are fair and transparent' as held in our corporate philosophy and the Principles of Toyoda that embody the concepts of Sakichi Toyoda, and we will act sensibly as realised in the TB Way.||
Materiality Formulation Process
During the period from April 2019 through July 2020, we formulated Toyota Boshoku's Materiality, with successive communication with top management at every step (27 instances).
Comprehensive Activities for CSR, CSV, ESG, SDGs, Etc.
- Lectures for officers and division general managers
- Lectures on SDGs for officers, entity top management, and next-generation leaders
- SDGs card game for next-generation leaders
Understanding Social Issues
- Clarified SDGs and other social issues
- Verification of social issues where we are already contributing at the present time
Extraction of Social Issues
- Verification of social issues which should be tackled as the company's philosophy
- Verification of social issues which can be resolved by making use of the company's strengths
- Discussion by next-generation leaders
Verification of Stakeholder Expectations
- Investor interviews
- Survey of company members
- Verification of management issues
Plotting of Social Issues and Extraction of Key Issues
- Organisation of social issues from the perspectives of 'social and environment impact' and 'impact on the company's business', and identification of key issues which the company should prioritise
- Formulation of five aspects of materiality in alignment with the company's Vision
Verification of Validity
- Discussion in a CSV Promotion Meeting chaired by the president
- Discussions with outside directors and outside auditors
Decision on Materiality
- Decision on materiality by the Board of Directors