Seiko Group Sustainability

Our Group Purpose states, “As a company trusted by society, we will constantly pursue innovation, inspiring people everywhere, and creating a future full of smiles,” and our corporate philosophy is based on being a company trusted by society. These ideas govern all our business activities. In October 2021, following discussions within the Sustainability Committee and resolutions adopted by Board of Directors in November of that year, we established our Sustainability Policy based on our Group Purpose. This policy aims to use our business activities to achieve what we call WITH (Well-Being—A Better Life/ Inclusion—For All People / Trust—Certainty and Trust / Harmony—with the Earth).We are working constantly to contribute to the growth of the Group and to achieve sustainable social development. We are also aiming to realize many of the Sustainable Development Goals (SDGs) within our business no later than 2030.

Purpose, Corporate Philosophy, & Sustainability Policy

Policy Promotion Structure

Board of Directors

Board of Directors oversees the work of the Sustainability Committee and its progress on specific issues. At least twice a year the Sustainability Committee reports to the Board on resolutions it has made. Regularly discusses important matters related to promoting sustainability.

Sustainability Committee (Secretariat: ESG/SDGs Promoting Office)

The Sustainability Committee, chaired by the President, consists of full-time officers, including those responsible for ESG and SDGs, as well as the heads of various Group companies. The Committee is responsible for formulating Group policies related to ESG and the SDGs. Discussions and resolutions take place in regular, semi-annual meetings and ad-hoc meetings convened as needed. Resolutions are then reported to Board of Directors. Based on the Committee’s resolutions, appropriate executives take the lead in promoting activities within the Group.
The SDGs Liaison Meeting is chaired by the ESG/SDGs officer and consists of SDGs representatives from 10 Group companies. The meeting is held three times a year, primarily to review progress on the Seiko Group's materialities, discuss updates, share issues, and engage in collaborative discussions.

Sustainability Committee Meeting History

July
2022:
Information Disclosure based on TCFD Recommendations (Discussions and Resolutions)
September
2022:
Progress Report on Key Actions for Materiality
October
2022:
Discussion and Resolution on the Formulation of Procurement Guidelines
November
2022:
Discussion and Resolution on the Identification, Analysis, and Assessment of Human Rights Risks
December
2022:
Discussion on our Decarbonization Roadmap (Including Decarbonization Transition Plan)
February
2023:
Discussion and Resolution on Updated Information Disclosure based on TCFD Recommendations (Including Decarbonization Transition Plan)
March
2023:
Discussion and Resolution on Accelerated Plan for the Introduction of Renewable Energy
March
2023:
Progress Report on Key Actions for Materiality
June
2023:
Report on Human Rights and Procurement
September
2023:
Progress Report on Key Actions for Materiality
Discussion and Resolution on 'the Seiko Group Responsible Mineral Sourcing Policy'
October
2023:
Revision of the Decarbonization Roadmap
February
2024:
Sustainability disclosure report, based on the European Sustainability Reporting Standards (CSRD)
March
2024:
Report on the progress of key actions related to materiality;
Resolution on Group policies and targets related to water
July
2024:
Resolution on the disclosure of 2023 performance related to Scope 1, 2, and 3;
Resolution on the establishment of a reporting hotline for suppliers
September
2024:
Reports on the Group core strategy update and SDGs strategy;
Report on the progress of key actions related to materiality
November
2024:
Report on shift to 100% renewable energy at domestic sites in 2024