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
The JVCKENWOOD Group is aiming to fulfill its Mid- to Long- Term Management Plan Vision 2020 and to contribute through Society5.0*1 to the achievement of the UN’s Sustainable Development Goals (SDGs)*2 by attaining profitable growth as a company while at the same time resolving social issues. 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 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 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.
*For a more detailed explanation of the JVCKENWOOD Group’s concept of sustainability, please click here (link will open in a separate window).
Social issues the JVCKENWOOD Group contributes to resolve
With the establishment of its new management structure in June 2016, the JVCKENWOOD Group is working to achieve new evolution as JK3.0 (the third era of JVCKENWOOD). In keeping with JK3.0, we have narrowed down the social issues the JVCKENWOOD Group will help to resolve to eight issues (1. Society, 2. Labor, 3. Environment, 4. Quality, 5. Economy, 6. Safety, 7. Governance, 8. Value Creation), plotting them into four quadrants – Conformity, Visibility, Diversity and Continuity – that reflect their connectedness to business and to society. These eight issues are explained as material issues, so please see Material Issues for further details.
Approach to profitable growth via sustainability strategy topics
We have determined the following five sustainability strategy topics with the aim of simultaneously promoting sustainability and achieving profitable growth. Topics 1) – 4) constitute the foundation for pursuing profitable growth as a company, to which an additional branch 5) has been attached by creating new value.
1) Technological innovations
The trunk for achieving growth in strategic domains through intellectual property and technology
2) Enhancing resilience
A strategic base that underpins efforts in fundamental domains (that support business) through robust, transparent, fair and inclusive mechanisms
3) Smart service
Products and services embodying the value created via 1) and 2) that enhance peace of mind, safety, comfort and trust
Products and services embodying the value created via 1) and 2) that contribute to environmental and social issues (QoL*3, well-being*4, etc.)
5) Brand-new value
A new branch of value grown via 1) and 2) whereby new topics are added through appropriate processes, and their growth fostered
*3 QoL: Quality of Life
*4 Well-being: a concept that refers to being in a good state physically, mentally, and socially
Promotion of sustainability throughout the value chain
In pursuing sustainability, JVCKENWOOD is working to give greater impetus to its sustainability initiatives by sharing a corporate value creation process across the Group and throughout the value chain.
Action plan for sustainability initiatives
The JVCKENWOOD Group has established the following five-point principal action plan based on its Sustainability Promotion Strategy.
The Vision 2020 medium-term management plan was formulated in line with the Corporate Vision in 2014. When this Vision was revamped in 2017, we incorporated the social and environmental activities theretofore pursued as CSR activities into a Sustainability Promotion Strategy inclusive of elements of corporate governance and risk management and clarified its relevance to our Vision. FY2018 marks the start of the implementation phase for Vision 2020 and, under a new Sustainability Management System, we will be undertaking initiatives to promote sustainability in keeping with our material issues and KPIs (Key Performance Indicators).
- Top management promotes our initiatives
- Set KPIs and targets in accordance with Vision 2020, the Mid- to Long- Term Management Plan
- Encourage the participation of all employees by linking the sustainability initiatives to all business activities
- Achieve SDGs by contributing to Society5.0
- Proactively and comprehensively disclose the initiatives to stakeholders via websites, etc.