NUCB Business School

Principles for Responsible Management Education Sharing Information on Progress Report 2020-2021 1. Our continued dedication to PRME

On behalf of NUCB Business School and all of our stakeholders, we submit our SIP Report for 2020-2021 and reiterate our pledge to uphold the Principles for Responsible Management Education (PRME). This is our fourth SIP Report since we frst endorsed PRME in July 2013. In line with our motto "Frontier Spirit'', we are steadfastly committed to providing quality learning programs and engaging services to our students. Consistent with this motto, NUCB Business School supports the six major principles of the PRME.

It has already been a year and a half since we were faced by a global health crisis, just one hundred years after the infuenza pandemic, the world's societies and economies were once again exposed to waves of deadly pandemics. But as history has proven, in times of adversity such as these, we must always persevere and take on the challenge head on.

Today, NUCB Business School continues to be a trailblazer as defned by its motto of ‘frontier spirit’ and its efforts to create positive impact leaders. As such, our challenge is to continue seeking more efcient and effective ways to maintain high quality business education in times of adversity and calamity. In response to the most recent pandemic, NUCB Business School was the frst institution in Japan to close its campus and move all of its classes online and offer assistance for students suffering fnancially from the loss of part-time work and support from their parents.

While this could be cited as a successful response, the School is aware that such challenges will no doubt occur again in the future. Thus, in order to ensure that high quality business management education can be maintained in times of adversity and calamity, we must continue to develop more effective and efcient educational systems and strengthen crisis response capabilities among faculty and students.

Finally, again, we are pleased to submit this SIP report, which details our successes and ongoing efforts to promote responsible management education and corporate responsibility.

Sincerely,

Yasutomi Kitahara, Dean NUCB Business School

1 2. About NUCB Business School

NUCB Business School was established by the Kurimoto Educational Institution (KEI) as a non-proft private graduate school of management in 1990, and is located in the business district of Nagoya, Japan. The founder of KEI, Dr. Yuichi Kurimoto, was the frst Japanese person to graduate from the University of Alberta, Canada in 1930. Dr. Kurimoto’s experience in Alberta inspired the School’s motto of ‘Frontier Spirit’ which is the cornerstone of the NUCB Business School educational philosophy. The driving force that founded the School was a vision to develop business leaders who, through a global mindset and an innovative approach to business leadership, would bring about the transformational change required for Japanese companies to succeed in a rapidly changing business environment.

The School quickly gained recognition for offering innovative master degree programs focused on general management, tax accounting, and information technology management. In 2006, it became the second AACSB accredited business school in Japan and in 2009, it became the frst AMBA accredited business school in the country. As the School gained a reputation as a leading provider of case method managerial education nationwide, new satellite campuses were opened in Tokyo (2005) and Osaka (2007), and its main campus was also upgraded to meet the needs of a growing student population to the modern Marunouchi Campus (2015) in a 14-storey state-of-the-art building in the heart of Nagoya’s fnancial district. In its 30-year history, NUCB Business School has grown from pioneering beginnings with a student population of 24 to becoming one of the largest graduate institutions in Japan with a current student body of 523.

Mission Statement NUCB Business School’s mission is to educate innovative and ethical leaders who possess a ‘Frontier Spirit’ and to create knowledge that advances business and society. Our students will have the ability to bridge the gap between New Asia and the rest of the world.

Vision NUCB Business School will be a premier business school in Asia through practice‐oriented learning combining tradition with innovation and international programs.

Core Values 1. Being innovative and creative in curriculum design 2. Balancing between theory and practice in teaching and research 3. Behaving with exemplary ethical standards at all times 4. Taking a global and historical perspective into all endeavors 5. Being aware of social values and trends 6. Valuing participant centred learning and individual attention in teaching 7. Valuing the diversity of faculty and students 8. Providing international opportunities with leading business schools 9. Implementing rigorous assessment for credit recognition 10. Providing the best possible living environment for studying

2 Frontier Spirit The energy driving the mission of the School is the ambition and optimism behind the ‘Frontier Spirit.’ This school motto has been developed through the overseas experience of Dr. Yuichi Kurimoto, the founder of the School. The School encourages students, faculty, and staff to create their own path to a new era with courage and hope.

New Asia With the development of its new strategy in 2017, the School redefned ‘New Asia’ in recognition of a region transforming from the world’s largest factory markets into major world markets in their own right. NUCB Business School now views ‘New Asia’ as a region even more important to the world’s prosperity with a strong trade capacity and high consumption power. Asian economies are being transformed by export-driven industrialization, urbanization, rapid adoption of technologies, and multilateral linkages among countries. The School continues to be committed to producing business leaders who can shape and develop this dynamic market in the 21st century.

3 3. Overview of practical actions

PRINCIPLE 1 Purpose: We will develop the capabilities of students to be future generators of sustainable value for business and society at large and to work for an inclusive and sustainable global economy.

The School’s commitment to ethics, responsibility and sustainability is embedded in its Mission, and deeply rooted in all aspects of the institution as highlighted in one of the core values to ‘always act with exemplary ethical standards’. As such, diversity awareness and matters related to ethical and responsible management have been integrated in the learning goals across all of the School’s programs.

In addition, PRME related initiatives are also embedded into the School’s Strategic Plan 2017-2021 with Goal 4 dedicated to Social Responsibility and Sustainability. This goal is further divided into two categories: (1) actively utilize our advantages to beneft society, and (2) further strengthen efforts instilling the importance of socially responsible behavior to stakeholders. A number of action plans were set out under each category for which the status as of March 2021 is detailed below.

Goal 4: Social Responsibility and Sustainability Strategic Area 4.1 - Actively utilize our advantages to beneft society Action Plan Responsible Division Current Status Establish a center for entrepreneurs to support both future business Executive Committee Completed successors in enhancing their present business as well as converting business ideas of student entrepreneurs to reality.

Further enhance the content of complimentary seminars and workshops External Relations Ongoing in order to solve challenges among business leaders. Ofce

Be involved in activities to enhance female career development. Dean, Academic Affairs, Ongoing External Relations Ofce Offer free workshops and seminars to deepen understanding of the case External Relations Ongoing method to educators including high school teachers. Ofce

Actively play a role in The Japan Society for Business Succession in order External Relations Ongoing to support family business succession. Ofce

Strategic Area 4.2 - Further strengthen efforts in instilling the importance of socially responsible behaviour to stakeholders Action Plan Responsible Division Current Status Integrate diversity awareness as well as ethical and responsible AOL Committee Completed management issues in the learning goals of all programs. Encourage faculty and students to participate in the activities to solve Dean, Managing Director Ongoing social problems both nationally and internationally. Develop a document to show commitment to provide an environment of Dean, Managing Director Completed trust and mutual respect and to place emphasis on diversity.

4 PRINCIPLE 2 Values: We will incorporate into our academic activities and curricula the values of global social responsibility as portrayed in international initiatives such as the United Nations Global Compact.

Core Values of the School NUCB Business School’s Community Values Agreement was developed to refect the School’s commitment to ethical standards highlighted in the Mission developed in 2017. The values detailed in this agreement defne the community and its purpose to create a shared environment of trust and mutual respect with an emphasis on diversity. These values are observed by all those involved in the School’s activities including students, executive program participants, faculty, staff and alumni. Some of the values outlined in the agreement include the following:

● Respect for the rights, differences, and dignity of others ● Honesty and integrity in dealing with all members of the community ● Accountability for personal behavior

Values Instilled through Extracurricular Activities In addition to matters addressed in the classroom, the School also offers cultural experience tours which are designed to help students understand the issues facing the local community by engaging with local residents through rice cultivation and other experiences.

The positive results of these efforts at the School can be found in the student-initiated activities of MBA students in broader Japanese society following their participation in the cultural experience tours. Students have been involved in a wide range of activities contributing to social issues including the revitalization of rural municipalities, corporate social responsibility and sustainability. These outstanding achievements have been recognized in a number of platforms which are further detailed under the “Award Winning Students” section of Principle 6 below.

Student Feedback from Academic Needs Conference Series The School organises Consultative Conferences on Academic Needs each year, for the purpose of identifying knowledge and skills required in the real business community. In this conference, the School has an opportunity to receive feedback for the improvement of the program from alumni. The following outlines some of the recent changes made in the PRME-related areas based on feedback from students:

5 Changes Made in 2020 Based on AY 2019 Student Feedback Feedback from Students Changes More corporate leaders should be invited to More corporate executives have been invited as guest speakers to some class for deepening the understanding of of the courses such as ‘Innovation Management’, ‘Business Model cases. Design’, and ‘New Age Marketing’. In addition, former students who wrote case studies have been invited to class as guests and asked to talk about the actual situation involved in the particular case. A course covering ‘Statics’ can be very helpful ‘Big Data for Analytics’ has been added to the curriculum in addition to for those who are not familiar with data ‘Technology & Operations Management’. analysis. Cases on NPO/NGO organizations should also A new case named ‘Expansion Strategy as Social Venture - NPO be included in some of the courses. Florence’ has been added to the course ‘Changing the Game’. For the enhancement of internationalization of English cases have been added to the following fve courses: the School, some of the courses should use - Marketing Strategy English cases. - Digital Marketing - Strategic Pricing - Strategic Corporate Finance - Strategic Service management Study and meeting rooms for students in One extra room has been added for student use at the Tokyo Campus. Tokyo Campus need to be expanded.

6 PRINCIPLE 3 Method: We will create educational frameworks, materials, processes and environments that enable efective learning experiences for responsible leadership.

Launch of Certifcate in Leadership Development Program As explained in the 2019 PRME SIP report, a specialized Healthcare Track was established based on an increased demand for management education tailored to the industry of medical care and pharmaceuticals, as well as a Global Track which is customized to meet the needs of professionals in the international business scene. Based on the success of these two tracks, the School has launched additional certifcate programs in a variety of disciplines to meet the needs of our student population, and provide them with a learning experience cultivating leadership skills tailored to their area of specialization.

● Advanced Management Program (AMP) ● Digital Transformation Program (DXP) ● Entrepreneurship Acceleration Program (EAP) ● Healthcare Management Program (HMP) ● International Management Program (IMP) ● Sustainable Acceleration Program (SAP)

The certifcate programs mentioned above are available to all degree students who will receive a certifcate in addition to their degree at the time of completion.

Syllabus requirement for ERS and SDG related topics At NUCB Business School, corporate social responsibility is not only an integral part of our program portfolio, but also embedded in our institutional mission. As set in the School mission, the School is committed to instilling the values of responsible risk management and sustainable value creation with respect to the environmental, social, and political impact of business. Faculty members are required to include topics related to these areas as well as ethics in every course, including aspects related to ERS pertaining to the case studies used for each course.

The following are examples of courses with a focus on matters regarding social responsibility offered to students through our degree programs in 2020.

Ethics, Responsibility and Sustainable Related Courses Program Course Title Core

Crisis Management & Leading Change ◯

Internal Control System & Risk Management ◯ EMBA Leading Global Business ◯

Risk Management & Sustainability

Leading Global Business ◯

MBA (JP) Internal Control System & Risk Management ◯

7 Business Succession & Innovation

Enterprise Turnaround Strategy ◯ MBA (EN) Business Issues and Ethics

Risk Management and Sustainability ◎ MSc in Mgt Managing Multinational Business

Corporate Valuation & Management ◯ MSc in Taxation Enterprise Risk Management ◎Mandatory Core ◯Elective Core

In addition to the incorporation of the topics mentioned above, faculty members will also be required to list related SDG goals which are relevant to the courses they teach in each syllabus from the 2021 academic year and going forward.

Transition to Live Virtual Learning NUCB Business School received government recognition for its ethical standards and excellence in response to the pandemic in 2020. In a government white paper sent to all universities in Japan, the School was highlighted as an exemplary model of how other universities should and could respond to the pandemic. This was a time when many institutions closed campuses and postponed classes, while still collecting tuition and fees, however, the School was able to fnd a solution that would create a safe environment in which students could seamlessly continue with their education despite the ongoing challenges. This was a highly unusual initiative since distance education in Japan is uncommon and older faculty members tend to be reluctant to embrace such technology. The School frst offered courses accessible remotely through a live virtual format in 2018 for its non-degree program designed for women in Japan who had left the workforce for various reasons related to pregnancy, child-raising, or simply living in rural areas of the country. Based on these early initiatives to provide educational opportunities to a wide range of students by use of distance learning, the School was successful in making a smooth transition to providing a full range of case method courses through a live virtual platform.

8 Practical Application of the Course Work We strongly believe that students can maximize their learning potential at NUCB Business School by applying learned knowledge to actual business situations and by sharing their experiences in the classroom. Most of the students in the MBA programs are in employment, so they are often asked to present their experiences regarding the practical application of the course work in their workplace. We know that students beneft from this valuable learning and professional development process not only in the classroom, but also at their place of work, as students can apply the effective and efcient problem solving approaches developed in the classroom.

Student learning outcomes are ultimately assessed through their case writing. The case writing and Consulting Note assessment require students to demonstrate their skills at selecting an appropriate analytical framework and showing its application with regard to their real business context. In writing the case, students are required to demonstrate comprehensive analysis of the situation and extract key questions or issues for resolution. Students must then propose a concrete business solution in the Consulting Note. Through this process, students develop the cognitive skills to apply theory to business realities and create innovative practical solutions as well as develop professional written communication skills.

Technology-Enhanced Learning In response to the comprehensive online teaching and learning environment established by the School, faculty members were able to seamlessly implement digital platforms for their courses and function as effectively as before. Indeed, many faculty members have found that the introduction of certain online features have given live virtual courses an advantage over on-campus courses in the following areas of teaching in the table below.

Use of Technology Enhanced Learning Name of platform, title of Program Course Purpose simulation, etc

Financial Market Simulation Financial Simulation VTS² (Virtual Trading Simulation EMBA System) Financial Analysis Whiteboard, Simulation Google Sheets and HBS Simulation MBA [EN] MBA Essentials Distribution of materials, individual Kenja consultation, group collaboration Innovation & Creative Thinking Innovation & Creative Thinking Group collaboration Miro MBA [JP] Service Innovation Notation, group collaboration, Miro, Mural, Jamboard discussion MSc in Mgt Service Design

Managing Multinational Simulation, Course materials HBS Simulation, Multimedia case MSc in Mgt Business Business Economics Business Competition Simulation Mob-lab.com

Fieldwork Fieldwork projects are designed so that students work in collaborative teams to acquire practical organizational knowledge about the different professional roles for leadership, membership, facilitation, and interaction. One of the PRME-related feldwork projects is the SDGs Project. The SDGs Project revolves around a tripartite initiative involving Ricoh Corporation, Ena City government (Gifu prefecture) and the School. The primary aim of the SDG Project is for participants to develop a practical understanding of the concepts related to sustainable development through case studies and literature reviews, and then give them the opportunity to

9 apply this knowledge to create proposals outlining recommendations to improve SDG outcomes for Ricoh Corporation.

Overseas Professional Development and Training Every year, the School provides full-time faculty members with the opportunity to participate in overseas training seminars to develop their teaching skills. This includes the ‘Global Colloquium on Participant-Centered Learning’ organized by Harvard Business School. Over the past fve years, 34 faculty members have participated in training sessions as indicated in the table below. To further build on these professional development opportunities, the School organizes training sessions mainly during Faculty Development meetings to promote faculty familiarization with the philosophy of participant-centred learning and its practical application. The latest meeting, which took place in April 2021, included a limited number of 20 participants, who observed classes taught by fve leading faculty members.

Number of Faculty Participants in Overseas Training Sessions Programs 2016 2017 2018 2019 2020 Harvard Business School: ‘Global Colloquium on 2 2 3 3 0 Participant-Centered Learning’ Harvard Center Shanghai: ‘The Case Writing Workshop’ 2 2 0 0 0 Harvard Business School: ‘Case Method Teaching Seminar’ 0 4 0 0 0 Ivey Business School in Hong Kong: ‘Executive MBA Class Visit’ 9 0 0 4 0 Ivey Business School in Hong Kong: ‘Virtual Case Teaching 0 0 0 0 3 Workshop’ Total 13 8 3 7 3

10 PRINCIPLE 4 Research: We will engage in conceptual and empirical research that advances our understanding about the role, dynamics, and impact of corporations in the creation of sustainable social, environmental and economic value.

NUCB Business School has a highly qualifed team of faculty members who make signifcant contributions to the research culture of the School. Our faculty members are actively involved in research activities, contributing to the School’s mission to ‘create knowledge that advances business and society’.

Most recently, in May of 2021, three of our faculty members presented at The International Academic Forum (IAFOR) under the title ‘Academia and Regional Sustainability in the Age of Pandemic’. The study presented by NUCB Business School faculty is based on a sustainability-oriented workshop with a public-private partnership context which was held in central Japan during the COVID-19 pandemic. The study uses a multi-node knowledge link model to explore the interactions among stakeholders and draw implications for academic institutions, industry partners, and policymakers to attain the regional sustainability goals during the COVID-19 pandemic and beyond.

Other examples of our faculty's research fndings and activities related to business ethics, diversity, and sustainability include:

Publications

● Chan, A. (2020). Social Comparison and Unethical Pro-Organizational Behavior : Multilevel Perspective Based on Social Comparison Theory. Applied Psychology 26(1) 30-38.

● Chin, H., G. (2021). Design Thinking as a means of Citizen Science for Social Innovation. Frontiers in Sociology, Section Sociological Theory.

● Hui, T. (2021). Online or Ofine? Coaching media as mediator of the relationship between coaching style and employee work-related outcomes. Australian Journal of Management. 0312-8962. ● Hui, T. (2020). Work-life balance of Chinese knowledge workers under fextime arrangement: the relationship of work-life balance supportive culture and work-life spillover. Asian Journal of Business Ethics, Vol. 10, pp. 1-17. ● Ito, T. (2020). Entrepreneur Social Responsibilities in Japanese companies. Case Study of two different types of companies. Macao University Journal and Silk Road Project. Silk Road Project hosted by Macao University. 1. 3. Macao, China. ● Ito, T. (2020). Sustainability in Undergraduate Business Education: Developing Talents for Our Sustainable Future. Academy of Management Proceedings. Academy of Management Annual Conference. 1. 3. Vancouver, Canada (virtual live format due to COVID-19) ● Ito, T. (2019). ESR Case Study. Silk Road Entrepreneurship Education Network. Silk Road Entrepreneurship Education Network. 1. 2. Macao, China.

● Ito, H. (2021). Active learning in Japan: Breaking barriers at individual, institutional, and policy levels. Policy Futures in Education (Impact Factor 0.88). ● Ito, H. (2020). International feldwork as skills development: An exploratory study. Journal of Geography in Higher Education.

● Ito, H. (2020). Promoting an environmental education project: The eco-picture diary in Yokohama City, Japan. Environmental Education Research.

11 ● Law, K. K. (2020). Sustainable HRM: An extension of the paradox perspective. Human Resource Management Review. ● Ochiai, Y. (2019). Business Administration for Business Succession -- Business Successor Training Method for Entreprises. Hakuto-Shobo Publishing Company. ● Park, J. (2019). Public Views of the Sustainable Development Goals Across Countries. Nature Sustainability.

● Roman, L., F. (2019). Youth Perception of Corporate Social Responsibility: Does Concern About Social Impact Convert to Consumption? International Journal of Asian Business and Information Management, 10(1): 1947-9638.

● Seki, T. & Fujioka, T. (2020). Small to Medium Enterprises and SDGs: Revolving Around the Initiatives of The National Conference of Association of Small Business Entrepreneurs in Sustainable Management and Small to Medium Enterprises: 100 Years of Management - Corporate Social Management - Management of SDGs. Doyukan, Inc.

● Syed, J. (2020). Gendered work engagement: qualitative insights from Jordan. The International Journal of Human Resource Management, 31(5).

● Yamoto, S. (2020). Boosting up individual productivity for individual wellbeing. Development Engineering Society of Japan, 40(1).

● Yamoto, S. (2020). Effectiveness of Remote work for diversity. Development Engineering Society of Japan, 40(1).

Presentations ● Chin, H. G., Mohsin, M. H. , and Frendy (2021). Academia and Regional Sustainability in the Age of Pandemic - 2020 SDGs Workshop Research Method, Findings, and Discussions. The 12th Asian Conference on the Social Sciences (ACSS2021)(Online)

● Hui, T. (2021). Effects of team-member exchange on student-athletes: The mediating role of interpersonal self-efcacy and the moderating role of seniority. 2021 North American Society for Sport Management Conference. Oral Presentation. Co-presenter. Online.

● Hui, T. (2019). Work-life Balance Practices for Knowledge Workers in the IT Industry: A Case Study of a IT Small-and-Medium Enterprise in Hong Kong. 4th Academia-Industry Exchange IIBG Symposium 2019. Hong Kong SAR, China.

● Ito, T. (2020). ONE Division synchronous session - #18447 Sustainability in undergraduate education: Developing young talents for our future. Academy of Management Annual Conference. Oral Presentation. Co-presenter. Vancouver, Canada (live virtual format due to COVID-19).

● Onaka, T. (2020). Paradigm Shift to Sustainability Management. The 4th Silk-Road Entrepreneurship Education Network Conference at Macau, PRC. Keynote lecture. Guest Speaker. City University of Macau, PRC (Online).

● Park, J. (2020). Psychological problems amid the COVID-19 pandemic: Comprehensive analysis of predictors from a Japanese panel study. Japanese Association of Health Psychology. Oral Presentation. Presenter. Online.

Research in Entrepreneur Social Responsibility Associate Dean Prof. Takehiko Ito has been involved in the development of cases regarding sustainability, and presenting research results at universities in Taiwan and Hong Kong, including the Chinese University of Hong Kong. In a presentation entitled, Responsible Business from East to West, Professor Ito explored the history of a company specializing in the artisanal food, kamaboko, a traditional Japanese fsh-paste loaf. Established in 1865, the company with over 150 years of history created new value for an industry which was experiencing a

12 downward trend all the while revitalizing the local municipality and creating employment opportunities with ofces and a factory both constructed with environmentally friendly facilities.

Publication of Journal of Business Succession The School is actively involved with the Japan Society for Business Succession (JSBS) that aims to contribute to the development of research and education in the area of family business succession. The members include researchers, practitioners and business owners. Since 2018, the School has been taking a leading role to publish the annual Journal of Business Succession. In the latest issue of the Journal of Business Succession published by JSBS in July 2020, Professor Hiroshige Hayashi, a leading expert in this feld, contributed an article titled ‘Management Philosophy to Drive Competitiveness in Globalization, Innovation and Diversity.’

Operations of the Case Center Japan As mentioned in the 2019 SIP report, the School fnalized an agreement for the full acquisition of the Case Center Japan (CCJ) in May 2019. The acquisition of Case Center Japan is especially relevant to the sustainability of the management profession in Japan for two reasons. First and foremost, the Center is the primary platform in Japan for the translation and distribution of high quality cases and the loss of the Center would have had a lasting and detrimental impact on all business schools, research centers and corporations in Japan that are dependent on continued access to cases in both Japanese and English. Secondly, following the acquisition, NUCB Business School signed case distribution agreements with Harvard, Darden, Ivey, IMD, INSEAD, Case Centre (UK), and SMU, as well as greatly expanding the role of the Center to organize case method workshops with Harvard with the aim of training case method educators in Japan. This professional training initiative is especially signifcant since MEXT is currently revamping the education system in Japan and has cited participant-centered learning (case method) as an effective teaching and learning tool that can be applied across all school levels.

Harvard Business Publishing Case Translation NUCB Business School entered an agreement to translate 200 of Harvard Business School’s best selling cases into Japanese. The project is overseen by the Center of Case Teaching & Learning, and 167 of the cases have been translated since the start of the project in 2018. The translated cases are registered with both Harvard Business Publishing and the Case Center Japan which is responsible for disseminating the cases domestically. The School has made plans for future initiatives including further collaboration with overseas publishers as well as translating original cases about Japanese corporations and business practices into English to address the lack of such cases available internationally.

13 PRINCIPLE 5 Partnership: We will interact with managers of business corporations to extend our knowledge of their challenges in meeting social and environmental responsibilities and to explore jointly efective approaches to meeting these challenges.

As declared in the strategy for the UN Global Compact, only through collective action can society build back better from the global pandemic and become more resilient on a trajectory to achieve the Sustainable Development Goals. The School has continued to devote itself to collaboration with partners, a principle set in Goal 3 of its current strategic plan, ‘Community Engagement and External Relations’, aimed to strengthen relationships with external stakeholders, including alumni, corporate and academic partners, and local communities.

Key examples of how the School has deepened its stakeholder engagement since the last SIP submission include:

● Initiated collaboration with JICA (Japan International Cooperation Agency) to bring low-income students from African countries to study in Japan. ● Collaborated with PwC Consulting on a start-ups project in 2020 in which INSEAD and Aichi Prefecture also participated. ● Collaborated with Ricoh Co., Ltd. and Ena City to conduct a consulting project called the SDGs Project. ● Organized a study tour and webinar program ‘Business for a Better World’, with the cooperation of Enakawakami-ya, a successful confectionery manufacturing company that is working to revitalize the local community. ● Established a partnership with the Showa Era Lifestyle Museum through a project to create their English website. ● Deepened its ties with Ena City in neighboring Gifu Prefecture. Through the SDGs-driven ‘Think Ena Project’ and cultural experience tours, we have created opportunities for students to become aware of the social issues facing many rural areas in Japan, while at the same time proposing ways for companies and government agencies to create a better society.

Revitalizing Rural Towns NUCB Business School’s Professor Goi organized an intensive lecture and feldwork course, entitled the ‘Think ENA’ project using the Design Thinking approach. The purpose of the project was to create business ideas for local companies and residents in Ena City of Gifu Prefecture, Japan. A total of approximately 40 international MBA students from ESADE Business School from Spain participated in the project in collaboration with representatives from the Ena ‘Noren’ (Japanese split curtain) Contest Residents’ Committee, and staff of Kawakamiya Co. Ltd., a local company which specializes in producing chestnut cakes.

The Enakawakami-ya management team taught the students how to create business models through collaboration with local farmers, in order to achieve both positive economic and social outcomes. For its role, the Ena Noren Contest Residents’ Committee focused on the importance of maintaining local handicrafts by having the students design artwork on a ‘noren,’ which is a split curtain commonly seen hanging in the

14 doorways of small businesses in Japan. By designing their own noren and participating with community members, the students could empathize with the challenges faced by rural cities with changing demographics due to rapidly ageing communities. Lastly, students created business ideas with prototypes as proposals to the stakeholders as products of their learning outcomes and contribution to the city. In terms of social responsibility, civic duty and community engagement, the project was a win-win situation for both the students and the local populace, since Ena City is a small city that is struggling economically due to an exodus of its younger population to larger metropolitan cities.

Project with Zhejiang University Global Entrepreneurship Research Center In order to effectively facilitate long-term collaborations in research and education in entrepreneurship and innovation, the School established a partnership agreement with the Zhejiang University Global Entrepreneurship Research Center in 2016. Three of our core faculty members manage this project, and they keep the School informed of their research activities at our Faculty Development Meetings. In 2020, the School successfully hosted the Silk Road Project Research Meeting which was coordinated and facilitated by Associate Dean Prof. Takehiko Ito for a total of over 40 participants.

Customized Programs The School views its customized programs as an essential opportunity to understand the skills and knowledge required in the corporate world, and respond to these needs in the creation of new courses and programs to help provide excellent business education.

The School has been successful in building stronger relationships with major companies in the greater Nagoya region and views these programs as an important initiative to contribute to the development of business by promoting innovation in companies and proposing solutions to their problems. Through the efforts of our External Affairs Team, the School has been identifying and reaching out to companies involved in consulting, fnancing, and manufacturing industries. The Greater Nagoya region produces 1% of world GDP annually and is home to global corporate giants like Brother Industries, Ltd., Mitsubishi Heavy Industries, NGK Spark Plug Co., Ltd., Toshiba Corporation and Toyota Motor Corporation.

List of Customized Programs (AY 2019-2020) Academic Clients Days Participants Lecturers Topics Year NTT DATA Global Solutions 6 22 Prof. Nagasawa MBA Core Prof. Koyama Prof. Miyake TOYOTA Tsusho Corporation 6 50 Prof. Onaka Career vision planning Hitachi High-Tech Corporation 4 30 Prof. Takeuchi Leadership program for Prof. Yamaoka future managers 2020 Prof. Miyake Prof. Kato Prof. Uchikoga Toyota Accounting Service 1 24 Prof. Nagasawa CEO’s Management Philosophy Tokai Tokyo Securities CO., LTD. 8 15 Prof. Ito New Leader Development Denka Company Limited 2 71 Prof. Onaka Critical Thinking Kintetsu World Express, Inc. 3.5 60 Prof. Ito Diversity KPMG 9 39 Prof. Nagasawa Global Leadership 2019 Prof. Koyama Prof. Onaka Adways Inc. 3 12 Prof. Nagasawa Strategic Management NGK Insulators, Ltd. 6 21 Prof. Kitahara Innovation

15 TOHO Gas Co., Ltd. Prof. Koyama Sumitomo Electric Industries, Prof. Nomura Ltd. Toyota Accounting Service 2 48 Prof. Nagasawa Leadership Mitsubishi Heavy Industries 1 20 Prof. Sawatani Innovation Management Canon Medical Systems Ltd. 4 20 Prof. Kitahara Design Thinking

Lectures by Corporate Executives Corporate executives are invited as guest speakers to some classes, notably the ‘Innovation Management’ and ‘Business Model Design’ special courses in which students' presentations are evaluated with the support of invited corporate executives. The guest speaker lectures provide students with valuable insights into situations and trends in different industries and countries as well as innovative perspectives on how to solve problems in a fast changing business environment. The School also promotes the use of cases written by program graduates in specifc classes. We also invite the alumni who wrote these case studies to participate as a guest speaker to manage class discussion of the case.

One of the latest sessions welcoming a guest speaker was organized for Innovation and Creative Thinking course participants on the subject of Creating Shared Value (CSV). Mr. Shingo Kamada, CEO of Ena Kawakami-ya, participated as a guest speaker, giving an overview of the efforts and challenges faced by his company. The 17 course participants representing 12 different countries worked in groups to create innovative business proposals using new value and smart digital prototypes for product promotion, such as new product development and market development. "The Sweets Project," as it was titled, concluded with presentations of proposals for Mr. Kamada.

16 PRINCIPLE 6 Dialogue: We will facilitate and support dialog and debate among educators, students, business, government, consumers, media, civil society organizations and other interested groups and stakeholders on critical issues related to global social responsibility and sustainability.

International Advisory Board The School’s International Advisory Board (IAB) has expanded to a diverse group of nine experts representing both academia and industry. The IAB plays a crucial role in providing consulting and advisory services in the development and implementation of the School’s operations. The IAB convenes for its regular meetings and engages in dialogue with School representatives. The key agenda for the October 2019 IAB meeting was ‘Leadership for Sustainability’ and ‘Future Business Leaders’, designed to contribute to the enhancement of future leadership development of the School. The most recent IAB meeting was held with the purpose of discussing the global pandemic with one of the main topics being, ‘During the “With Corona” Era and the “Post Corona” Era, what does the industry expect from business schools?’ Board members suggested taking further advantage of the potential of online education, to place more importance on crisis management education, and to create more opportunities for lifelong learning.

Contributing to SDGs In 2020, a group of our faculty members employed an exploratory and grounded learning approach to launch a sustainability consulting project in collaboration with Ricoh Co., Ltd., a company which is listed in the Dow Jones Sustainability Indices. This project received signifcant media recognition, as there are few joint projects between business schools and companies in the feld of responsible management in Japan.The SDGs Project revolves around a tripartite initiative involving Ricoh Corporation, Ena City government (Gifu prefecture) and the School. The primary aim of the SDGs Project is for participants to develop a practical understanding of the concepts related to sustainable development through case studies and literature reviews, and then give them the opportunity to apply this knowledge to create proposals outlining recommendations to improve SDG outcomes for Ricoh Corporation.

Through his participation in the SDGs Project and discussions with professors and students, the Ena City strategic planning ofcer was able to learn what methods of cooperation with companies can be used to promote SDGs in the city. Ena City is now planning to implement the SDG approaches developed under the Project in 2021, with the aim to be selected as one of the ‘SDGs Future Cities,’ a large subsidy project promoted by the Japanese Government.

17 Ayano Tsuruta, a current student in the MBA (JP) program and the CEO of the venture enterprise Donguri Pit LLC, made an appearance on a television program entitled “You too can make a Contribution to SDGs.” Donguri Pit is a start-up specializing in agriculture with a vision of “enriching and bettering the lives of people through the realization of zero food waste.” The enterprise, which is run by a staff team solely composed of automotive engineers in their 20’s, is launching a project called the Shared Refrigerator. This initiative aims to enable the sharing of excess produce and food from households and farmers within the region in order to better society in the contribution to SDGs as well as societal issues such as the so-called “shopping refugees”, or those who have been cut off from the retail sector as a result of depopulation or lack of transportation.

Aichi Startup Ecosystem Since 2018, NUCB Business School’s Center for Entrepreneurship has been an active participant in events organized under the Aichi Startup Ecosystem which is an initiative led by the Aichi Prefectural Government to boost Japan’s start-up culture. In 2020, the School became a part of their Innovation Program and collaborated with Pwc Consulting and INSEAD. The program aimed at solving problems associated with a shortage of human resources capable of launching new ventures within companies. The School created opportunities to learn essential knowledge for creating innovation, such as new value creation methods, open innovation with startups, and how to create business models using cutting-edge technology. The program has since fostered the development of 17 successful entrepreneurs.

Program overview ● A series of online seminars will be conducted by INSEAD from November to February, aimed at those involved in the creation of new businesses within Aichi Prefecture’s most active industries. ● The participants will also be challenged with start-up related project work to utilize what they have learned in the seminars. Both NUCB BS and INSEAD will offer support as they carry out their projects. ● On the fnal day of the program, a results briefng will be held in March to present fndings and lessons drawn from the program. ● Those who complete the program receive a certifcate from INSEAD. To complete the program, participants must satisfy certain conditions such as attendance rate. ● Target Participants: Enterprises with a head ofce or main ofce in Aichi Prefecture in charge of the creation of new businesses. Participants should be able to communicate in English.

Participation in the Startup Pitch Japan Event In another initiative to contribute to the promotion of start-ups in Japan, the School supported the February 2020 ‘Startup Pitch Japan’ event, with one faculty member participating in the event as judge. The event consisted of 95 companies including start-up entrepreneurs and family business successors involved in business start-ups. Participants presented to the judges their ideas for the creation of new values and contribution to the solution of social issues.

18 Extension Programs and Launch of Webinar Series Since 2002, the School has continued to offer two types of extension program seminars as a component of its Executive Education. These seminars are organized on a wide range of topics at no cost for participants, and are an important initiative for the School to contribute to the development of business by promoting innovation in companies and proposing solutions to their problems.

The frst type of seminars, ‘Business Open Seminars,’ are a series of business lectures on fnance, economy, and other trending topics which are delivered by guest speakers from the corporate world (usually well-known CEOs, Executive Directors, etc.). In 2019, the ‘Business Open Seminars’ attracted 140 participants through a total of four different seminars on the theme of ‘Trump politics and the media’, ‘The value of people being reviewed by digitalization’, and others. The second type of seminars, ‘Executive Frontier Seminars,’ are presented by faculty members delivering cutting-edge insights into the most recent business practices. In 2019, fve different seminars on the theme of ‘Thinking about Japanese corporate governance’, ‘Silicon Valley Entrepreneurship Development System and Digital Disruptor Threats’, and others were organized and attracted 286 participants.

Below is a list of topics along with participant and speaker details:

Business Open Seminars Academic Date Title Presenter(s) Participants Year July 10 Trump politics and media Mr. Takeshi Yamawaki 32 Executive Editor Asahi Newspaper Aug. 7 The value of people being reviewed by Mr. Yasuki Okai 33 digitalization Board Director 2019 Nomura Research Institute Nov. 6 Thinking about Japanese fnance from Mr. Kou Namikawa 38 the evolution of the US fnancial industry Economist Dec. 18 Growing political risk and 2020 economic Mr. Tomohiro Ota 37 trends Senior Economist Goldman Sachs

Executive Frontier Seminars Academic Date Title Presenter(s) Participants Year Jan. 12 Corporate Analysis for Next-Generation Prof. Mitsuyori Miyake, NUCB Business 34 Executives School Feb. 9 Japanese Ways of Corporate Governance Prof. Osamu Ueda, NUCB Business 59 - Case Studies on Seven & i Holdings Co., School Ltd. and TOSHIBA CORPORATION 2019 Feb. 15 Why do human beings learn? Dr. Juko Ando 53 Professor, Keio University Feb. 23 Leadership Style Towards Future by Dr. Masao Torii 47 Foreign Capital Executive President, Novartis Holding Japan K.K. Mar. 16 Untold Asset Management through Prof. Seiichiro Iwasawa, NUCB 93 Behavioral Economics Business School

Open Webinar Series In 2020, due to the global pandemic, the School was unable to organize the previously held on-site extended programs, so it replaced these with a new webinar series in live virtual format called ‘Leading in Turbulent

19 Times’ and ‘Insights from Industry Leaders’ from April to July 2020. A total of 25 sessions each 60 minutes in length were organized in both English and Japanese, and attracted 1,608 participants from 27 countries.

‘Leading in Turbulent Times’ and Insights from Industry Leaders’ Webinars (Japanese) Date Title Presenters Participants April 10 Effective use of online learning Prof. Takeuchi, NUCB Business School 89 April 17 Remote work after COVID-19 Prof. Koyama, NUCB Business School 50 April 24 Pricing in a crisis situation Prof. Tamura, NUCB Business School 90 May 1 Risk scenario under COVID-19 Prof. Otsuki, NUCB Business School 140 May 8 Management under unexpected situation Prof. Yamoto, NUCB Business School 74 May 15 People who fall into crisis, those who can take Prof. Iwasawa, NUCB Business School 182 advantage of crisis May 22 Scenario planning after COVID-19 Prof. Koyama, NUCB Business School 74 May 29 Political judgement under emergent situation Prof. Kitamura, NUCB Business School 49 June 5 Will the new Coronavirus worsen international Prof. Sekine, NUCB Business School 75 relations? June 12 Will COVID-19 offer us innovation Dean Kitahara, NUCB Business School 87 opportunities? June 19 Leadership under crisis Asso. Dean Ito, NUCB Business School 83 June 26 Rescue Japan Prof. Nagasawa, NUCB Business School 140 July 3 Basic income after COVID-19 Prof. Harada, NUCB Business School 57 July 10 International order swaying in the Coronavirus Prof. Mizobuchi, NUCB Business School 67 pandemic July 17 COVID-19 and strategy change Prof. Haga, NUCB Business School 61 Total 1,318

‘Leading in Turbulent Times’ and Insights from Industry Leaders’ Webinars (English) Date Title Presenters Participants May 26 Communication and Perception in Campbell Hanley, GM of Weber Shandwick 25 Management Japan June 4 COVID-19 Risk Management: Leads the Times Prof. Tomofumi Anegawa, NUCB Business 17 of Turbulence from a Global Perspective School June 9 The (Not-so) New HRM Prof. Kuok Kei Law, NUCB Business School 24 June 18 Emotionally Intelligent Leadership Kathi Love, CEO of Motherwell Resources 38

20 June 23 Navigating the Job Market Post-COVID-19 Dr. Hakeem Muhammad Mohsin, NUCB 29 Business School June 30 Effecting Change in Japan: Traditional Culture Prof. Ted Katagi, NUCB Business School 30 and Its Adaptation July 9 Rethink Design Thinking and Mobility: Prof. Goi Hoe Chin, NUCB Business School 32 Innovation in COVID-19 Crisis July 14 How does the 2020 COVID-19 pandemic affect Prof. Frendy, NUCB Business School 26 corporate fnancial reporting and auditing? July 21 A Macroeconomic View of COVID-19 Prof. Seiichiro Iwasawa, NUCB Business 52 School July 28 Life Satisfaction and Moral Values Under the Prof, Park Jooha, NUCB Business School 17 COVID-19 Pandemic Total 290

Community Outreach and Public Engagement Activities As part of the School’s ERS outreach efforts, creating partnerships and links with regional towns, cities and communities is an important part of the School’s commitment to social responsibility and sustainability. A core faculty member, Prof. Goi, created a unique course which employed the Design Thinking approach to combine intensive theoretical study with a feldwork project titled ‘Think ENA.’ The project involved 40 MBA students from Spain's ESADE Business School, who collaborated with representatives of the Ena Noren (split curtain) Contest Residents Committee and staff from local chestnut confectionery specialist Enakawakami-ya Inc.

The Enakawakami-ya management team taught the students how to create business models through collaboration with local farmers, in order to achieve both positive economic and social outcomes. For its role, the Ena Noren Contest Residents’ Committee focused on the importance of maintaining local handicrafts by having the students design artwork on a ‘noren,’ which is a split curtain commonly seen hanging in the doorways of small businesses in Japan. By designing their own noren and participating with community members, the students could empathize with the challenges faced by rural cities with changing demographics due to rapidly ageing communities. Lastly, students created business ideas with prototypes as proposals to the stakeholders as products of their learning outcomes and contribution to the city. In terms of social responsibility, civic duty and community engagement, the project was a win-win situation for both the students and the local populace, since Ena City is a small city that is struggling economically due to an exodus of its younger population to larger metropolitan cities.

Another community ERS outreach project involved the Showa Era Lifestyle Museum, which has been struggling to attract visitors. A group of School faculty and 25 students from 16 different countries collaborated with the NPO ‘Feel the World’ to create an English version of the Museum website. This activity was televised on local TV news and became a news story, helping the museum to increase its foreign visitors.

Expansion of Afnity Groups for Sustainable Networks NUCB Business School founded the Healthcare Network (formerly known as the Pharmaceutical and Medical Care Network) in 2016, and the Women’s Leadership Group (formerly known as the Association to Promote Women’s Active Participation in the Workplace) which are both faculty-led professional networks in which graduates and current students gather several times a year to network, exchange ideas and discuss trends in business and several industries. Since the establishment of the two founding groups, the range of networks have expanded to a total of 11 networks listed below along with a description of their most recent activities.

21 Recent Network Activities Meeting # of Network Subject Date participants Global Minds 10 Feb,. - The Vietnamese start-up, Cricket One, a business aimed to provide 24 Network 2021 sustainable and affordable protein from crickets, enters the Japanese market after success in its home country

Learning 19 Jan. - Organizational Development for Manager 60 Network 2021

Doctoral 5 Nov. - Costs and Benefts of a PhD Abroad (UK) 12 Program 2020 Network

Business 22 Aug. - Human Resource Development for Innovation 23 Consulting 2020 - Overseas business of SME (Small to Medium-sized enterprises) in Network the EV Industry

Healthcare 19 Aug. - The Application of AI Technology in the Medical and Nursing Care 31 Network 2020 Fields - The reality and challenges facing the medical front lines of the corona disaster - Hospital management strategies for the pandemic and what peripheral industries should do - Visible air conditioning Finance Network 8 Aug. - Investment Strategy in Harnessing the VUCA Era 28 2020

Freelance 2 Aug. - What is a side job / freelance work style? 20 Network 2020

22 MOT Network 29 July - Model usage of IoT and AI 44 2020

Business Model 19 July - Assisting Project for Reconstruction of Okuma-town and 40 Network 2020 Futaba-town, Ministry of the Environment Family Business 24 May - Passing the Baton from Father to Daughter 15 Network 2020 Women’s 21 May - Education for those on maternity leave in preparation for returning 26 Leadership 2020 to work Network

Award Winning Students Students have many opportunities to learn about PRME-related matters through classes and extracurricular activities at NUCB Business School and the following are some of the student achievements from their experiences.

A group of MBA students through their interaction with local residents learned from their frst-hand experience that opportunities to receive practical English education in rural municipalities were few to fnd. Also, as a result of the majority of the youth moving away from the Japanese countryside and to large cities, the elderly people who are left behind often fnd themselves secluded and isolated. After gaining an understanding of the current situation in the Japanese countryside, they formed a partnership with a local international association through which they began to organize bi-monthly Language & Cultural Exchange events. This initiative provided an accessible service which could also help individuals overcome and prevent loneliness by promoting active communication. This achievement was recognized as the group was selected for frst place in a contest called the SOI (School on Internet) Asia Service Plan Contest 2020.

Another example is that one of the students who was enrolled in the SDGs Project class was chosen as one of the two speakers from the eleven participants to receive an award recognizing her group’s outstanding work in the 2021 SDG Relay Symposium held by the Aichi Association of University Presidents. She gave a presentation to the Aichi Prefectural Governor, the Mayor of Nagoya City, and presidents and faculty members from member universities on the signifcance and effectiveness of the SDGs Project.

23 PRINCIPLE 7 Organizational Practices: We understand that our own organisational practices should serve as an example of the values and attitudes we convey to our students.

ESG Initiatives It is important to acknowledge our successful collaboration with Ricoh Co., Ltd on the SDGs Project, which is one of the largest multinational electronics and imaging equipment manufacturers in Japan and is included in the Dow Jones Sustainability World Index (DJSI World), one of the world's most well-recognized Environmental, Social and Governance (ESG) indices. The company was awarded the Grand Prix at the 2020 Nikkei SDGs Management Awards for its global efforts to support the UN's sustainable development activities and our collaboration with this outstanding company has helped both faculty and students at the School understand that Ricoh's SDGs, and ESG initiatives are highly effective in its overseas corporate strategy. The School also has learned that in order to continue to be an organization that can contribute to and make an impact on the business community, it is essential for our institution to further enhance its own sustainable development initiatives. In the SDGs Project, students visited sites and interviewed relevant people in order to realize better SDGs activities at Ricoh. Based on this experiential learning process, students submitted a consultation report to Ricoh to demonstrate the main research fndings and outcomes of the project. Based on these report recommendations, Ricoh decided to consider the establishment of a ‘forest school’ in its conservation activity area and the use of IT resources to coordinate environmental volunteers in the future.

Facilities and Operations meeting Environmental Standards Our purchasing policy in the design and construction of the Marunouchi Campus ensured that all new facilities are of the highest environmental standards as certifed by the leading eco-friendly organizations. The Nagoya Campus building is compatible with earthquake resistance safety standards through advanced quake-absorbing technology incorporated in the base structure, as well as fexible structural design with few interior column walls. In addition, the School provides a comfortable, functional, and responsible education space through a variety of energy saving technologies including super high-performance glass, LED lighting systems, various sensor controls, photovoltaic power generation, and an energy saving system linked with a security system.

Minimization of energy usage is an institutional responsibility for all faculty, staff and students. Energy efciency is not only a part of the School's mission, but it is also in line with the national agenda in Japan to reduce energy consumption following the Great Earthquake of Eastern Japan and the ensuing tsunami which had a great effect on energy supply in Japan. The School has also implemented a ‘Policy on Air-Conditioning’ since its establishment in 1990. The policy sets guidelines aligned with the Energy and Resource Saving Promotion Conference organized by the Social Policy Bureau of the Cabinet Ofce. The School sets room temperatures at 28 degrees celsius in summer and 20 degrees celsius in winter. Each administrative staff member is responsible for adjusting room temperatures as required.

24 Diversity in Recruitment Students As stated in the Community Values Agreement, NUCB Business School places value on diversity. NUCB Business School promotes cultural diversity as a valuable component of our program portfolio and a core feature of our institutional culture. The School prioritizes diversity and high-caliber students in its recruitment activities. Over the past three years the School has been successful in providing a highly diversifed environment in which students can engage in productive discussions with each other by merit of the fact that they all have similarly advanced education qualities, professional experience and communication skills. Benefting from our wide network of partner schools, 125 schools across 53 countries, we have welcomed a diverse group of students. By region, students from Asia and Europe account for about 40% each year, with North America, Latin America, the Middle East and Africa accounting for less than 10% and Oceania with the least. The student body is also diverse in terms of generation, industry, work experience and gender. The following is a representation of the students enrolled in our English and Japanese MBA programs and our EMBA program.

Profle of MBA (EN) Students (2018-2020) Category 2018 2019 2020 Average age 31 years 32 years 34 years Average work experience 4.8 years 6.4 years 8.6 years % women enrolled 31% 40% 40% Degree at entry Master: 23% Master: 23% Doctor: 5% Bachelor: 77% Bachelor: 77% Master: 37% Bachelor: 58% Top 3 industrial sectors Technology: 23% Consumer service: 27% Manufacturing: 19% Transportation: 19% Manufacturing: 18% Consultation: 15% Manufacturing: 12% Finance: 14% IT/Technology: 11%

Profle of EMBA Students (2018-2020) Category 2018 intake 2019 intake 2020 intake Average age 40 years 41 years 42 years Average work experience 15 years 16 years 17 years Management experience 60% 67% 73% C-level experience 15% 26% 26%

Salary at entry approx. €71,040 approx. €81,60 approx. €87,440 Degree at entry Doctor: 3% Doctor: 2% Doctor: 5% Master: 22% Master: 14% Master: 24% Bachelor: 75% Bachelor: 84% Bachelor: 71% Top 3 industrial sectors Manufacturing: 31% Manufacturing: 29% Consumer service: 23% Healthcare: 24% Healthcare: 24% Healthcare: 18% Consumer service: 20% Consumer service: 22% Manufacturing: 18%

25 Profle of MBA (JP) Students (2018-2020) Category 2018 intake 2019 intake 2020 intake Average age 36 years 35 years 36 years Average work experience 11 years 9 years 11 years Management experience 45% 33% 28% Salary at entry approx. €59,600 approx. €48,960 approx. €71,200 Degree at entry Doctor: 6% Doctor: 3% Doctor: 1% Master: 14% Master: 10% Master: 6% Bachelor: 80% Bachelor: 87% Bachelor: 93% Top 3 industrial sectors Consumer service: 30% Manufacturing: 25% IT/Technology: 25% Manufacturing: 26% Healthcare: 25% Manufacturing:15% Healthcare: 15% Consumer service: 18% Healthcare: 20%

Faculty Increasing the number of faculty members with international professional or educational experience is one of the main goals set out in our strategic plan. The School has successfully made a steady increase in the percentage of international core faculty members which has increased from 17% in 2016 to 24% in 2020. The number of countries of origin represented by our core faculty has also increased by 7 during this period and 32% of the total number of faculty members now represent 12 countries including China, the Philippines, Indonesia, Iran, Israel, Italy, Korea, Pakistan, Australia, Singapore, the UK, and the USA.

We also had 10 international visiting faculty members join the School in 2020, all of whom have PhDs from well-known universities, and 8 of whom are currently working at universities accredited by one of the international accreditation bodies: AACSB, AMBA, or EQUIS. When visiting faculty members join the School, faculty members beneft from the many opportunities to interact with them, and in some cases hold collaborative workshops. For example, Prof. Roman and Prof. Jiang held workshops titled "How to enhance research collaboration with partner schools?" and "How do Japanese frms withdraw from their overseas manufacturing bases?”.

The School has also been steadily attracting Japanese faculty members with extensive overseas experience under our Internationalization Strategy. In 2020, 39% of Japanese faculty members had international postgraduate degrees, and 52% had overseas business experience. All of these faculty members are able to communicate in English, and 56% have published PRJ articles in English in the past fve years.

The effort to recruit more international faculty will continue in the coming years as the School is committed to providing a genuinely multicultural educational environment and increased international research activities in line with our strategic aims. Furthermore, the opportunity for all faculty members to be trained at leading international business schools will further improve the professional exchange of international perspectives and collaborative initiatives within the School.

The School is a member of international accrediting bodies such as AACSB, AMBA and EFMD, and uses membership with international organizations such as AAPBS, CEEMAN, EMBAC and PRME for professional development purposes. Faculty and staff members have participated in over 20 different international conferences and seminars organized by these membership organizations over a fve-year period.

26 Scholarships Promoting Diversity NUCB Business School has further expanded the range of merit-based student scholarships offered to give opportunities to a diverse group of students. These include admission scholarships, merit-based scholarships for enrolled students and housing scholarships. Funding for scholarships was expanded with a further €10,400 allocated to housing scholarships for international students and €44,800 for participants in the exchange program and short-term EMBA. Seventy-fve percent of international students at the School have received scholarships or benefts from the Japanese Government, non-governmental organizations, or directly from the School in the 2020 academic year.

Admission Scholarships for International Students with Student Visas Type Tuition Remission Minimum Score for Application A 60% Tuition Remission GMAT 720 or above B 30% Tuition Remission GMAT 640 or above C 10% Tuition Remission GMAT 560 or above

Merit-based Scholarships for Enrolled Domestic Students and International Students with Non-student Visas Type of Scholarship Max Number of Recipients Amount Awarded Tuition equivalent For professionals 3 students each semester Half the tuition fee Tuition equivalent For female leaders 3 students each semester Half the tuition fee Tuition equivalent For international leaders 3 students each semester Half the tuition fee

Student Groups Promoting Diversity The Global Frontier Network The Global Frontier Network (GFN), one of the subnetworks under the Student Representative Council (SRC), is made up of current students committed to leveraging the strength of our School's diversity in order to engage all members of the NUCB community and business professionals with a new webinar series, starting with the theme of Team Building. The most recent webinar event organized by the group was focused on the theme of building an Inclusive Environment. As a guest for the event, the GFN invited the Negotiation Club, which recently won the world renowned “The Negotiation Challenge”, to share their experience in building their team and leading it to succeed in the competition against teams representing other prestigious institutions.

The Discover Japan Network The Discover Japan Network is a joint effort between alumni and student representatives of NUCB Business School which conducted its frst on-campus networking and social event in November 2020. This event included a keynote seminar from a world-renowned Aichi innovator Mr. Tetsuya Yokoyama, Director of Yokoyama Kogyo, Ltd. and creator of Birdy Decanters – followed by a whisky tasting session to test out his innovative range of luxury bar tools. Mr. Tetsuya talked about the factors that led to his innovation and the keys to success: fnding accessible experts in bartenders, a penetrable niche market in

27 luxury bar tools, and unique production methods in his car part manufacturing company's machine polishing process. His belief in his product motivated his passion, as he would go to events in person and make believers out of skeptics through demonstration.

NUCB Business School prides itself in the continuing efforts of its students and alumni to strengthen the bond between international and domestic students and create opportunities to interact and learn from each other.

4. Assessment of Progress

A total of four objectives were set in the 2019 SIP Report. The following is an evaluation of the progress which has been made for each initiative.

1. Silk-Road Entrepreneurship Education Alliance Conferences

GOAL: To organize a Biannual Silk Road Entrepreneurship Education Conference. The plan is to hold an event each spring in Nagoya followed by an event in the fall of the same year hosted by Zhejiang University Global Entrepreneurship Center (ZJU-GERC). The frst event was already held in April 2019 in Nagoya and the second event is already planned for fall 2019 at ZJU-GERC. The biannual event is planned to run every year.

Since the establishment of the partnership agreement with the Zhejiang University Global Entrepreneurship Research Center in 2016, activities under the alliance have been managed by three of our core faculty members who report on their achievements in research at our Faculty Development Meetings.

In 2019, the School hosted a Silk Road Project Research Meeting with 40 participants featuring research presentations mainly concerned with the subject of family frms. The following year, Associate Dean Professor Takehiko Ito participated in the 4th Annual Research Meeting which was held in a live virtual format and hosted by the City University of Macau, and featured a diverse group of panelists representing a number of different countries. The topic for the event was Entrepreneurship and Leadership under Crisis Management, and both Professor Ito and Professor Onaka made keynote speeches as co-sponsor representatives for NUCB Business School. An upcoming event featuring presentations on collaborative research on Entrepreneur Social Responsibility is planned to take place in Hangzhou, China, the health crisis permitting, in the fall of 2021.

2. Expansion of the Center for Entrepreneurs

GOAL: Expansion of the NUCB Center for Entrepreneurs to increase the number of participants. The goal is to provide guidance to future business successors by enhancing their present business besides converting business ideas of student entrepreneurs into reality.

Since its inception in 2017, the Center has organized a total of nine pitch events attracting a total of 460 participants. Members of the Center for Entrepreneurship, composed of current students and alumni of the School, have continued to grow in number with the total number of new members registering to the Center increasing to 10 in 2020 from 3 in both 2018 and 2019. The six faculty members leading the Center provide guidance to the member entrepreneurs during a 12-24 month roadmap through four processes: business conception, business planning, business building, and fundraising. The membership fee for a 6 month plan is JPY300,000 (EUR2,400) and JPY600,000 (EUR4,800) for a 12 month plan.

28 3. Upgrade Operations and Reach of Case Center Japan

GOAL: To upgrade Case Center Japan to widen access to high-quality cases in Japanese and promote case method use. Through the acquisition of the CCJ, we will streamline the distribution of cases in Japan and increase the number of case method workshops and training courses.

Since the acquisition of its operations in 2019, Case Center Japan has continued to expand its activities which include case distribution, translation, and organizing training workshops. In cooperation with such preeminent partners as Darden School of Business, Harvard Business School Publishing, IMD, INSEAD, Ivey Business School, and Singapore Management University, the Center has translated, developed, and distributed over 24,000 cases that meet the high standards of the world’s leading business education institutions. A recent study of its facilities has revealed 3,446 users of our services, including 2,549 participant users, 476 academics, 395 professionals (i.e. consultants) and 26 business schools.

Located in the School’s Research Center, it is also equipped with a library of student cases written by graduates of the School. There are currently 1,603 original cases available for viewing, and these cases can be used as reference research materials by current students developing their own cases, with the permission of the School. The Center has also continued to co-host Case Method Seminars in collaboration with Harvard Business School Publishing which are open to students, alumni and educators alike.

4. Increase in Span of Live Virtual Courses and Programs

GOAL: To increase the number of online courses and programs. The initiative not only reduces the carbon footprint of the School, but also will make access to education more affordable and possible to a greater number of people in Japan and beyond.

As mentioned under Principle 3, the School made a swift change to the format of its classes when the pandemic struck in early 2020, offering all of its courses in a live virtual format. The School’s beginnings in remotely accessible learning go back to 2018 when it frst offered courses through a live virtual format for its non-degree program designed for women in Japan who had left the workforce for various reasons related to pregnancy, child-raising, or simply living in rural areas of the country.

The School has invested more than 400,000 euros in creating a series of live virtual classrooms in response to the health crisis, while also training faculty to use the new classroom system. Based on extensive media coverage of these pioneering efforts, the number of domestic applicants reached a record high in 2020, and the number of international students decreased by only about half of that of the previous year despite the travel restrictions imposed during the pandemic. The experience which has been gained through this adaptation will not only allow the School to beneft from the fexibility to adjust its programs, but also it is also seen as an opportunity for the School to provide further opportunities for a wide reach of students.

29 5. Future Objectives

The following initiatives have been planned for the next reporting period.

● Further strengthen governance from an international and gender perspective. ● Increase the number of PRME-related subjects. ● Strengthen partnerships with companies that are actively involved in SDG initiatives.

30 CONTACT

Professor Takehiko Ito Associate Dean, NUCB Business School [email protected]

Mr. Ken Ozawa International Accreditation Manager, NUCB Business School [email protected]

31