Publication of the “Furukawa Electric Group Integrated Report 2023”
- Promoting ESG management for sustainable growth and enhancement of the Furukawa Electric Group’s corporate value -
- We have published the “Furukawa Electric Group Integrated Report 2023,” which summarizes the value creation process built towards 2030.
- We will continue to promote communication with investors and other stakeholders, as well as ESG management aimed at sustainable growth and the improvement of corporate value over the medium- to long-term.
Furukawa Electric Co., Ltd. (Head office: 2-6-4 Otemachi, Chiyoda-ku, Tokyo; President:Hideya Moridaira) has published the “Furukawa Electric Group Integrated Report 2023” today.
Background
In order to realize sustainable growth and increase medium- to long-term corporate value, we are required as a company to proactively respond to the rapid changes in the business environment and disclose the issues related to sustainability.
As a group, directed at achieving the Furukawa Electric Group Vision 2030 (hereinafter “Vision 2030”), we are promoting ESG management with the aim of improving corporate value over the medium- to long-term. Starting in FY2020, we have issued the Furukawa Electric Group Integrated Report that summarizes the value creation process built towards 2030.
Details
The Integrated Report 2023 presents the specific progress that has been made in the sustainability indicators newly set for each important management issue (material issue) for achieving Vision 2030, as well as the specific value creation process towards 2030.
This year, along with showing strong awareness for the links with the “Approach and Initiatives toward Sustainability” as stated in the Annual Securities Report and summarizing the “information disclosed in line with the TCFD recommendations” in the section on climate change, the section on human capital sets forth a new framework (note) with awareness of the links to the management strategy and business strategy. Including these changes, the structure of this year’s report has been greatly revised to enable a better understanding of the overall strategy. Also, the section on governance includes a “Message from Outside Directors” covering the deliberations by the Board of Directors and Nominating/Compensation Committee concerning the process for appointing the new president and the introduction of ESG-linked remuneration into the Company’s remuneration system for Directors, etc.
We will continue to promote communication with investors and other stakeholders, as well as ESG management aimed at Furukawa Electric Group’s sustainable growth and the improvement of corporate value over the medium- to long-term.
(Note) Furukawa Electric’s original framework based on four perspectives (“individuals,” “organization,” “awareness/mindset/culture” and “actions/systems”) and six elements (“engagement,” “leadership/team mindset,” “organizational culture/communication,” “abilities/skills,” “design of the organization/personnel composition,” and “flow of information, coordination and decision-making mechanism”)
Main items of the “Integrated Report 2023”
- President’s Message: Meeting our 2025 Mid-term Plan, a milestone for achieving Vision 2030, we will work to realize an ideal Furukawa Electric Group.
- Message from the General Manager of the Strategy Division: All members of the Group are determined to take on the challenge of enacting reforms to achieve the 2025 Mid-term Plan and Vision 2030.
- Message from the General Manager of the Finance & Accounting Division: Improving Capital Efficiency and Cash Generation Capabilities of Our Businesses and Increasing Corporate Value: Understanding the Present to Create the Future
- Message from Outside Directors: We look forward to the leadership of new President Moridaira — who was appointed through a fair and transparent process — in implementing the business strategies of the 2025 Mid-term Plan
- Furukawa Electric Group’s values and innovation history
- Furukawa Electric Group’s sustainability, and 2025 Mid-term Plan “Road to Vision 2030 —Transform and Challenge—”
- Business strategies, Creating businesses that solve social issues
- Building a governance system to strengthen risk management
- Developing business activities that consider climate change
- Strengthening human capital and organizational execution abilities
- Corporate information/Data
The Integrated Report 2023 is available on the Furukawa Electric website.
Integrated Report, Sustainability Book
Furukawa Electric website “Sustainability” page
Furukawa Electric Group’s efforts towards the SDGs
Based on the “Sustainable Development Goals (SDGs)” adopted by the United Nations, Furukawa Electric Group has formulated the “Furukawa Electric Group Vision 2030” which sets the year 2030 as its target and is advancing efforts with the aim to “Build a sustainable world and make people’s life safe, peaceful and rewarding, Furukawa Electric Group will create solutions for the new generation of global infrastructure combining information, energy and mobility.” Toward the achievement of our Vision 2030, we will take open, agile, and innovative approaches to promote ESG management that aims to increase corporate value over the medium to long term and will contribute to the achievement of the SDGs.
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