To Create a Vibrant Environment for All Members of Society
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To Create a Vibrant Environment for All Members of Society The Taisei Group creates “safe, secure, and attractive spaces” and “high value” in harmony with the nature, and strives to build a global society filled with dreams and hopes for the next generation. Taisei Group Philosophy Taisei Spirit To Create a Vibrant Environment for Taisei Group Active and Transparent Culture / All Members of Society Philosophy Value Creation / Evolution of Tradition Objectives to be Pursued by the Taisei Group (Goals) Key Concepts That All Taisei Group Officers and Employees Must Adhere to in Order to Pursue and Realize the Taisei Group Philosophy Taisei Spirit Action Guidelines for Taisei Personnel and the Taisei Group as a Whole Overall Overall Medium-term Business Plan Principles of Management (FY2018 – FY2020) Conduct Perspective Individual Policies Customers Shareholders / Investors Suppliers Employees Local Communities In order to pursue the Taisei Group Philosophy “To Create a Vibrant Environment for All Members of Society,” all officers and employees share the “Taisei Spirit,” and carry out corporate actions based on the Group Action Guidelines and Individual Policies “Overall Principles of Conduct” and “Overall Management Perspective” and Medium-term Business Plan. The aim is to create new social value in the course of these actions through the wishes and expectations of our stakeholders, while being aware of the issues of sustainable society and contributing towards their resolution. 1 TAISEI ANNUAL REPORT 2019 Group Slogan* * The Taisei Group Philosophy, the Taisei Spirit and the Action Guidelines for Taisei Personnel and the Taisei Group as a Whole can be summed up in the following slogan. Action Guidelines for Taisei Personnel Taisei Spirit and the Taisei Group as a Whole We value diversity and, through open and active communication lines ❶● Cultivating an open corporate culture Active and and networks both internal and external to the Taisei Group, seek to Securing a pleasant working environment Transparent ❷● cultivate a transparent and active corporate culture in which all of our Culture ❸● Respect for fundamental human rights officers and employees are able to reach their full potential. and diversity Not limited to our understanding of society at large, we carefully take into ❹● Creating a vibrant environment for all account the needs of our clients and using all of the technology and members of society Value know-how at our disposal, together with our passion for innovation and Striving to create value Creation ❺● ingenuity, seek to construct innovative and valuable engineering projects ❻ Pursuing customer satisfaction that inspire and impress our clients. ❼●● Ensuring and improving safety and quality We aim to instill within the Taisei Group the Japanese tradition of Respect for traditions Evolution ❽ monozukuri (precise, superb craftsmanship) and continually challenge of ❾● Promoting partnerships with subcontractors ourselves to provide ever more valuable contributions to society and ensure and suppliers Tradition our continued development and growth as a respected corporate group. ❿● Promoting environmental conservation and creation ⓫● Communication with local communities ⓬● Conduct in the international community ⓭● Appropriate disclosure of information Fulfilling social responsibilities Individual Policies ⓮● ⃝Risk Management Policy ⃝ Policy on Business Continuity in ⃝Human Rights Policy Times of Disaster ⃝ Policy on the Protection of ⃝Fundamental Corporate Governance Policy Personal Information ⃝Information Disclosure Policy ⃝ Fundamental Policy to Enhance Operational ⃝Quality Policy ⃝Policy on Intellectual Property Compliance Systems ⃝Health and Safety Policy ⃝ Declaration of Biodiversity ⃝Code of Conduct on the Use of Social Media Preservation ⃝Environmental Policy ⃝IR Policy ⃝Policy on Intellectual Property ⃝Environmental Targets ⃝Social Contribution Policy TAISEI ANNUAL REPORT 2019 2 This report is intended to help readers better understand the creation of our corporate value as a whole, Editorial Policy such as corporate activities, financial statements, and management tasks in line with the Taisei Group Philosophy and the Action Guidelines for Taisei Personnel and the Taisei Group as a Whole. This report comprehensively and concisely discloses our key ESG information that provides starting points for dialogues, including the President’s talks and External Board Members’ discussion, and SDGs dialogue, as well as our initiatives on sustainability. Further details about the initiatives related to ESG and sustainability are available in the “CSR” section on Taisei Corporation’s official website. WEB https://www.taisei.co.jp/english/csr/ <Supplementary Note on Employees> • “Employee” refers to employees of Taisei Corporation. “Personnel” refers to personnel working at Taisei Corporation, including dispatched and seconded personnel. • “Officers and personnel” collectively refers to Members of the Board, Executive Officers, Executive Fellows, and employees of Taisei Corporation. The main subject of this report is the actual results for the fiscal year ended March 31, 2019 (April 1, 2018 to March 31, 2019). Period of Coverage Some contents concern the data for the previous fiscal year or the most recent activities. Scope of Coverage In principle this report covers the activities of Taisei Corporation and the Taisei Group companies (consolidated subsidiaries) as of March 31, 2019, unless otherwise noted. Guidelines on Non-Financial Information Disclosure • GRI Sustainability Reporting Standards • ISO26000: 2010 (International Organization for Standardization) • Integrated Reporting Framework (International Integrated Reporting Council: IIRC) • Environmental Reporting Guidelines (2018) • Guidance for Collaborative Value Creation (METI) Third-party opinions and third-party assurance on this report • Kanji Tanimoto, DBA, Professor, School of commerce, Waseda university • “Independent Assurance Report” on the environment data and indices by Ernst & Young ShinNihon LLC Date of Issue • September 2019 Composition of Communication Materials ●Japanese ●English Publications Website Investor Relations Information ● ● https://www.taisei.co.jp/english/ir/ CSR Activities (Sustainability): ● ● TAISEI ANNUAL REPORT https://www.taisei.co.jp/english/csr/ 2019 ● ● (Integrated Report) Amount of information More ESG Evaluation (As of July 1, 2019) INCLUSION OF TAISEI CORPORATION IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS ORINDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT OR PROMOTION OF TAISEI CORPORATION BY MSCIOR ANY OF ITS AFFILIATES. THE MSCI INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI. MSCI AND THE MSCI INDEX NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI OR ITS AFFILIATES. 3 TAISEI ANNUAL REPORT 2019 CONTENTS About the Taisei Group Taisei About the About the Taisei Group ESG Section 5 Message from the President 45 Toward the Realization of a Sustainable Society 7 The Taisei Group Corporate History 49 Environment 9 Taisei Group’s Now/Present Realization of a Sustainable and Environmentally 11 11-Year Financial and Non-Financial Friendly Society Summary • Promotion of Environment Management Activities • For the Achievement of a Low-Carbon Society (Risks and Opportunities) Toward Sustainable Growth of • For the Achievement of a Recycling Society the Taisei Group (Risks and Opportunities) • For the Achievement of a Society That Cohabits Group Taisei Sustainable Growth of the Toward 13 Toward Medium- to Long-term Value Creation with Nature (Risks and Opportunities) 14 Strategy for Sustainable Growth • For the Achievement of a Society Where Safety • Recognition of the Business Environment is Assured (Risks and Opportunities) (Risks and Opportunities) 55 Social • Important ESG Tasks for the Taisei Group • Ensuring Quality and Improving Technology (Materiality) and Impact on Corporate Activities • Technical Development for Realizing a • Communication with Stakeholders Sustainable Society Special Feature • Participation in Initiatives • Promotion of Supply Chain Management • Company-Wide Strategy: • Thorough Management of Labor Safety and Medium-term Business Plan (FY2018 – FY2020) Sanitary Conditions • Investment Strategy and Human Resource Strategy • Cultivation of Technical Staff and Securing • Priority Measures for Management Issues Human Resources • Realization of an Attractive Working Environment Special Feature: That Is Good to Work in 61 Governance Engagement to Increase • Corporate Governance Business Section Corporate Value • Management Members 23 Special Feature 1 • Risk Management / Compliance <Talk> President and Investor 27 Special Feature 2 External Board Members’ Discussion Data Section 31 Special Feature 3 75 Explanation and Analysis of Business Results Taisei Corporation’s Efforts to Realize a 79 Consolidated Financial Statements ESG Section Sustainable Society 107 Independent Auditor’s Report • (1) SDGs Dialogue 108 ESG Data of the Taisei Group • (2) SDGs× ZEB 109 ESG Data of Major Group Companies ® • (3) TAISEI i-Innovation 110 Third-Party Opinion 111 Outline of the Company Business Section: 113 Overseas Network Venue of Value Creation 39 Civil Engineering Note Regarding Forward-Looking Statements Data Section This report has been produced in an environmentally friendly manner. It is printed 41 Building Construction on lightweight paper to reduce the use of timber resources and transportation 43 Real Estate Development energy, using vegetable oil-based ink. TAISEI ANNUAL