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Jfe Group Report 2020

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Jfe Group Report 2020 JFE GROUP REPORT 2020 Integrated Report Corporate Vision Standards of Conduct All JFE Group personnel are required to faithfully adhere to the following Standards of Conduct in all corporate activi- The JFE Group will contribute to society with ties. These standards embody the JFE Group's Corporate Vision and go hand-in-hand with its Corporate Values. Senior managers are responsible for communicating these standards to employees of Group companies and their the world’s most innovative technology. supply chain partners, and creating effective systems and mechanisms to ensure adherence to ethical standards. Senior managers are also responsible for measures to prevent the recurrence of any violation of these standards. Additionally, they must report violations promptly and accurately to internal and external stakeholders, determine the Corporate Values persons of relevant authority and accountability, and resolve matters rigorously. 1. Provide quality products and services 2. Be open to society 3. Work with communities 4.Globalize Challenging Spirit, Flexibility & Sincerity 5. Exist harmoniously with the global environment 6. Maintain proper relations with governments and political authorities 7. Maintain crisis readiness 8. Respect human rights 9. Provide challenging work environments 10. Comply with laws and ordinances Contents Value Creation Outside Executives Group Interview Editorial Policy 65 Outside executives share perspectives on ESG as the The JFE GROUP REPORT 2020 (Integrated Report) has been created and published with the aim of having all stakeholders, including shareholders and investors, understand the medium- to 03 COVER STORY foundation for JFE Group’s value creation long-term value creation narratives within JFE Group. 11 History of Value Creation 70 Message from a New Executive While providing a consolidated overview of the medium- to long-term growth strategy together with financial information (such as results and management strategies) and non-financial infor- 13 The Value of Steel mation such as Environment, Society, and Governance (ESG), we have included special feature articles focused on specific strategic themes, clearly presenting the company’s unique initiatives. 15 Process of Value Creation Through this report, we hope to foster a better understanding of JFE Group's approach toward sustainable enhancement of corporate value. Management Foundation to Support Growth 17 Business Model This report is utilized to communicate comprehensively with all our stakeholders, and our intention is to use your feedback to provide even better content in future reports. Steel Business and Trading Business ESG Activities Reporting period FY 2019 (April 1, 2019, to March 31, 2020). Reports on some activities undertaken outside this period are included. 19 Business Model 71 Material CSR Issues of the JFE Group Organizations covered The holding company JFE Holdings, Inc. and its three operating companies JFE Steel Corporation, JFE Engineering Corporation and JFE Shoji Corporation. Additionally, Engineering Business 73 KPIs for Material CSR Issues some reports may include the equity-method affiliate Japan Marine United Corporation and Group companies under the operating companies (consolidated subsidiaries 79 Non-financial Highlights and equity-method affiliates). Strategies for Value 81 Material Flow Guidelines Management Strategies 83 Stakeholder Relationships International Integrated Reporting Council (IIRC) Guidelines: International Integrated Tool map JFE GROUP REPORT 21 Message from the CEO 85 Management Organization Reporting Framework (Integrated Report) 87 Corporate Governance Financial Strategies Ministry of Economy, Trade and 93 Thorough Compliance Industry: Guidance for Collaborative 31 Message from the CFO 94 Risk Management Value Creation Financial Non-financial 33 Financial Highlights GRI: Sustainability Reporting Guidelines Information Information GRI Standards Business Strategies Corporate Data 35 Steel Business Financial Stability Board: the final report of the Task Force on Climate-related Financial 95 Company Profile / Share Information Disclosures (TCFD) Financial results 39 Engineering Business Corporate 97 Operating and Main Group Companies and investors’ Securities 41 Trading Business Publication Date CSR report governance IT REPORT 99 Annual Highlights meeting report Online: November 2020; (Next issue (planned): November 2021) report 43 Shipbuilding Business documents JFE Group-Response to COVID-19 102 Financial Information Disclaimer All current plans, strategies and beliefs published in this report that are not historical facts IR Library CSR Report 2020 44 JFE Group’s Response to the COVID-19 Pandemic https://www.jfe-holdings.co.jp/en/csr/ contain forecasts about future performance, which are subject to risks and uncertainties. https://www.jfe-holdings.co.jp/en/investor/ Business Strategies Feature Actual results may greatly differ from those forecast due to various factors including fu- library/index.html Corporate governance report https://www.jfe-holdings.co.jp/en/company/info/pdf/corporate-governance.pdf 45 Feature 01 JFE Group’s Digital Transformation Strategy ture trends in the global and Japanese economies, and in related industries. IT REPORT Accordingly, please note that we do not guarantee the reliability of such forward-looking ESG Feature https://www.jfe-holdings.co.jp/en/investor/library/itreport/index.html information. 53 Feature 02 JFE Group’s Initiatives for Climate Change Issues 59 Feature 03 JFE Group’s Human Resources Strategy 01 JFE Holdings, Inc. JFE GROUP REPORT 2020 02 JFE Steel JFE Engineering JFE Shoji Japan Marine United CoverRestructuring forStory a new stage of growth We are transforming the company into a leaner, stronger company through restructuring focused on targeted production systems and product types in response to structural changes in our external environment. Furthermore, we are establishing a solid revenue base for the future by pursu- ing growth through three main strategies: strengthen the competitiveness of our domestic manufacturing sites, pursue digital transformation (DX) and ex- pand new revenue bases overseas. Plate mill in the Keihin district 03 JFE Holdings, Inc. JFE GROUP REPORT 2020 04 JFE Steel JFE Engineering JFE Shoji Japan Marine United CoverCreating the future Story by supporting society with advanced technology The Yokohama Northwest Line, which improves access from the Tomei Expressway to Yokohama Port, was opened in spring 2020. JFE Engineering managed the construc- tion of the Yokohama-Aoba Junction that connects Tomei and the Northwest Line. With the site located right next to the Tomei Expressway, meticulous planning and precise construction were required to build the structure where many roads intricately intertwine. Construction of the part that straddles the Tomei Expressway was complet- ed in one night by installing a huge block that was assembled in advance. The opening of the road is expected not only to improve traffic congestion, but also revitalize the economy and strengthen the road network at times of disaster. Yokohama-Aoba Junction 05 JFE Holdings, Inc. JFE GROUP REPORT 2020 06 JFE Steel JFE Engineering JFE Shoji Japan Marine United CoverPeople connect Storyand become power The global market is constantly changing. Our business is built upon the connection between people that understands needs of customers, communicates them to manufacturing sites, and speedily responds to them as a team. JFE Shoji Group’s mission is to lead our customers to solutions through capturing the changing needs of society. We will continue to grow by developing new busi- nesses while firmly maintaining our existing businesses. Photo: Processing center in Vietnam, JFE Shoji Steel Hai Phong Co., Ltd. 07 JFE Holdings, Inc. JFE GROUP REPORT 2020 08 JFE Steel JFE Engineering JFE Shoji Japan Marine United CoverBuilding every shipStory with heart and soul The 14,000 TEU type energy-saving container ship ONE CYGNUS, built at the Kure Shipyard of Japan Marine United (JMU), completes the series of 15 vessels. This vessel adopts YP460, an ultra-thick high-tensile steel developed jointly with JFE Steel, to achieve efficiency in transport through container carrying capacity enhanced to the maximum. In addition, by incorporating unique energy saving de- vices developed by JMU, such as SURF-BULBTM and ALV-FinTM, the vessel delivers high energy saving performance that achieves the Energy Efficiency Design Index (EEDI) regulation Phase 3 requirement. The high-efficiency, electronically controlled main engine provides fuel efficiency over a wide speed range and allows for flexible operations. Delivery of the final 14,000 TEU type energy-saving container ship 09 JFE Holdings, Inc. JFE GROUP REPORT 2020 10 History of Value Creation External environment Technological and strategy development ESG initiatives JFE Holdings JFE Steel JFE Engineering JFE Shoji JFE Group First Medium-term Business Plan 2003-2005 Third Medium-term Business Plan 2009-2011 Fifth Medium-term Business Plan 2015-2017 Realizing our merger’s full potential Targeting future-oriented technological Capturing global demand to the fullest History of Growth development extent The primary aim behind the establishment of JFE was to secure stable profitability early on Despite a harsh business environment brought on by events including the global financial We formulated a manufacturing and sales system to maximize opportunities for capturing and to strengthen its business foundation through active
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