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Practicing sustainability management to maximize corporate value and help build a sustainable world
Purpose, Values and Sustainability Management
Casio has upheld its corporate creed of “Creativity and Contribution” since the beginning. Taking advantage of advancing semiconductor technologies, Casio has created new demand by leveraging original ideas and advanced technological capabilities. As our business grew, we made a difference in people’s lives and contributed to social progress. Determined to continue to fulfill our corporate creed of “Creativity and Contribution,” even in this era of rapid market change, in 2024 we issued statements of our Purpose and Values to serve as guideposts, along with the creed, to keep us on the right path.
Our Purpose is, “Through the power to put wonder at hand, bring new levels of joy to lives one by one.” This is the reason we exist, to benefit society in this way. In recent years, we had been concerned that the open and vibrant corporate culture supported by our creed of “Creativity and Contribution” was starting to fade. In formulating the Purpose, we seek to reinvigorate the core Casio principles and the joy of creation throughout the Casio Group and to maximize motivation. Our Values are the beliefs that underlie the action guidelines that apply to everyone who works at Casio. The Values include “Imagination with empathy,” “Creativity through unique thinking,” “Change with joy” and “Collaboration for realization,” and they are meant to shape our attitudes and actions on the job every day. When we all approach our work with this kind of mindset, we will naturally become the kind of people who think and act proactively, and this is the kind of employee Casio values.
In addition, we have also included “Contribution to society as our stance” as one of our Values, in alignment with our pursuit of sustainability management. In order to continue to be the company the world needs for years to come, we will continue to strive to achieve a balance between helping to build a sustainable world and corporate growth by creating new value.
Materiality at Casio: Aiming to Create Value for the Company and Society
In 2023, Casio identified its material issues again, treating materiality as a management focus that would help improve corporate value and build a sustainable world. In 2024, we will set targets and KPIs for each material issue and work to strengthen our corporate structure and implement risk management to create new value.
These material issues are made up of three groups: “value creation through business,” “enhancement of management capital,” and “strengthening of management foundation.” Under “value creation through business,” we aim to create new innovations that reflect consumer needs and go beyond them, in line with the core ideas of the Basic Policies for 2030. The achievement of this value creation is supported by “enhancement of management capital” and “strengthening of management foundation.” In particular, we have focused on enhancing management capital, with an emphasis on human capital, intellectual capital, and manufacturing capital, and we have selected four themes as issues for “strengthening of management foundation.” By carrying out these initiatives, Casio will continue to fulfill its responsibility to help build a sustainable world while working to enhance its corporate value.
Enhancing Management Capital from the Human Resources Perspective
At Casio, in order to strengthen human capital, we have identified “building trust and resonance with employees” as a material issue. As part of this effort, we place particular importance on health management, seeking to create an organization where each and every employee can continue to work in good health for a long time. We believe that this is an essential component of our efforts to achieve sustainable growth, given that the average age of our employees is increasing every year. Furthermore, in order to put the entire Casio Group on a growth trajectory, we need to develop independent personnel who can think and act proactively, and who are flexible in responding to change. At the same time, we are also focusing on strengthening management to improve the management skills of managers, in order to create a workplace environment where diverse human resources can maximize their abilities. This will help us quickly promote the development of leaders who can work freely and actively.
Casio has been actively engaged in health and productivity management, and was certified as a White 500 company in the large corporation category of the Health & Productivity Management Outstanding Organizations 2024 program. We are working on several measures, including career training designed to develop independent personnel and training that seeks to advance women as candidates for management positions, in order to diversify our management talent. In the future, we are also considering adding a new axis to our system in which subordinates evaluate executives to determine whether or not they are practicing management in line with our Purpose.
Focusing on “Strengthening of Management Foundation” to Support Corporate Value
We recognize that “strengthening the corporate governance system” is essential to creating an organization with integrity. We are taking initiatives to further strengthen our management foundation, from improving the effectiveness of the Board of Directors to enhancing global risk management.
In addition, “respecting human rights” is also an extremely important issue for Casio since we are constantly expanding our global business. We will continue to promote human rights due diligence and human rights education, and do our utmost to minimize human rights risks.
Furthermore, “strengthening environmental management” is an essential part of improving corporate value and sustainability. As a response to climate change, we have set reduction targets for Scopes 1, 2 and 3, and are working to reduce greenhouse gas emissions. We have also identified adapting to a recycling society and pursuing harmony with nature as material issues, and we are implementing measures for each of these by setting KPIs.
In addition, we consider “advancing digital transformation (DX) and strengthening information security” to be an important business issue in our future corporate activities. We will actively address these issues in conjunction with our development of human resources skilled in DX.
Casio will continue to promote sustainability management and strive to maximize corporate value and build a sustainable world.
Finally, I would like to apologize for the system failure caused by unauthorized access to our network in October 2024. I know this worried and inconvenienced our customers, business partners and other stakeholders.
We have set up an emergency headquarters to deal with this matter, and we are working hard to restore our internal systems and resume normal operations as soon as possible.
We take this situation very seriously and will do our utmost to prevent a recurrence by investigating the cause and further strengthening and reinforcing our information security system.
Masuda Yuichi
Representative Director, President and CEO