The JVCKENWOOD Group’s Sustainability

Our Concept of Sustainability

The JVCKENWOOD Group believes it important to meet the expectations of all of its stakeholders through its business activities in keeping with its Corporate Vision of “Creating excitement and peace of mind for the people of the world.” Continuing to be a company that is trusted by, and that contributes to, society will ensure our sustained growth.

To promote corporate and social sustainability through its business, the JVCKENWOOD Group remains committed to producing products and services that resolve a variety of social issues. We will seek to improve our corporate value in a sustained manner and contribute to society by working to resolve social issues through our business while establishing a high degree of trust not only with customers but also with all other stakeholders connected with our company.


Two-pronged corporate strategy for business and sustainability

In May 2021, the JVCKENWOOD Group formulated its new Medium-Term Management Plan Vision 2023 setting the promotion of sustainability management as one of the priority themes with "Profitable growth" and "Solving social issues on a global basis" as the two wheels of the company. By promoting the basic strategies of "transformation" and "growth" with sustainability management and ESG strengthening as the foundation of management, we aim to contribute through Society 5.0 *1 to the achievement of the UN’s Sustainable Development Goals (SDGs) *2

To these ends, we have organized our business strategies into Fundamental CSR and Strategic CSR (including a CSV [Creating Shared Value] perspective), and we are taking a two-pronged approach focused on business and sustainability as we implement our corporate strategy by developing sustainability from charity-based CSR in the narrow sense.

*1 Society 5.0: A term used in The 5th Science and Technology Basic Plan, approved by the Cabinet in January 2016, that refers to a super-smart society utilizing the Internet of Things (IoT) and AI.

*2 The Sustainable Development Goals (SDGs) : goals for sustainable development adopted by the UN Sustainable Development Summit, comprising 17 goals and 169 targets with a target year of 2030; all organizations are asked to take concrete actions in accordance with these development goals to address the global issues of poverty, hunger, energy, and climate change and to build peaceful societies.


Vision 2023 identifies business strategy and sustainability as two wheels


Pyramid of Company and Society


Social issues we contribute to resolve through our business and SDGs

We, JVCKENWOOD Group, narrowed down the eight social issue themes (1. Society, 2. Labor, 3. Environment, 4. Quality, 5. Economy, 6. Safety, 7. Governance, 8. Value Creation) that the Group will help to resolve. And then we plotted them into four quadrants – Conformity, Visibility, Diversity and Continuity – that reflect their connectedness to “business” and to “society”. These eight themes are the basis for formulating the new medium-term business plan, Vision 2023, and are reflected in the identification of Materiality (important issues) and the establishment of KPIs (Key Performance Indicators).JVCKENWOOD also recognizes that corporate contributions are essential to the achievement of the UN’s Sustainable Development Goals (SDGs). For this reason, we have established a policy of achieving the SDGs through contributions to Society 5.0. Out of the total of 17 SDGs, eight goals that are particularly relevant to social issues are identified as priorities for the JVCKENWOOD Group.

For further details of the relationship between the eight social issues and SDGs, see Contributions to SDGs, and for information on the progress of our identified materiality and KPIs, see Material Issues and Results.


Social issues the JVCKENWOOD Group contributes to resolve

Connections between Sustainability Management Icons and SDGs


The JVCKENWOOD Group's Value Creation Process

The JVCKENWOOD Group aims to realize a sustainable society by providing value that contributes to

solving various social issues through its business activities, utilizing its strengths in audio, visual, communications, and design management.


The JVCKENWOOD Group' Value Creation Process


Sustainability Management System

In April 2018, JVCKENWOOD established the position as an executive in charge under the supervision of the Board of Directors, as well as a Sustainability Management Office and a system for rapidly implementing our Sustainability Management Strategy under the CSO’s purview. The Sustainability Management Office is responsible for implementing the company-wide Sustainability Management Strategy and for managing progress in implementing the strategy, as well as for periodically reviewing material issues and KPIs (Key Performance Indicators) and enhancing the disclosure of sustainability-related information.

 

In pursuing the Sustainability Management Strategy across the company, it is essential to foster awareness of the issues faced and understanding of sustainability within the company. To those ends, the Sustainability Management Office actively communicates with the relevant departments and sections and takes the lead in efforts linking business to sustainability. The head of the Sustainability Management Office will submit regular reports on the progress made in implementing the Sustainability Management Strategy to the Board of Directors and, as necessary, present proposals for deliberations at meetings of the Board of Directors.


Sustainability management system (as of July 1st,2021)


Action Plan for Sustainability Initiatives

The JVCKENWOOD Group has established the following five-point principal action plan based on its Sustainability Promotion Strategy. Under the sustainability promotion system, these policies are reflected and implemented in specific sustainability promotion activities throughout the Group.


1. Top management promotes our initiatives

2. Set KPIs and targets in accordance with the new Mid- to Long- Term Management Plan

3. Encourage the participation of all employees by linking the sustainability initiatives to all business activities

4. Achieve SDGs by contributing to Society5.0

5. Proactively and comprehensively disclose the initiatives to stakeholders via websites, etc.