Contributing to People and Society for Years to Come, Guided by Our Corporate Creed of “Creativity and Contribution” and Our Commitment to “Challenge, Change, and Collaboration”
│Reaffirming What Makes Casio’s Existence Valuable
At Casio, we are determined to keep contributing to people’s lives and the broader society for years to come. Anticipating dramatic changes in world affairs as well as our business environment, we have adopted a new guiding theme affirming what makes Casio’s existence valuable: “creating the most important value for the people who use our products and services.”
Since its establishment, Casio has been a game-changer, producing inventions to create products and contributing to society by sparking new lifestyle and cultural trends. Going forward, we will continue creating products and services that offer the most important value to each user and become a familiar and integral part of the their increasingly diverse lifestyles.
We will continue to transform our growth businesses — including Timepieces, Education, and Electronic Musical Instruments — to adapt to the changing times, leveraging their competitive advantage and solid business foundation competitors cannot match. In doing so, I am confident that Casio will enrich people’s lives and contribute to abundance and fulfillment. We will achieve this by creating markets that leverage Casio’s unique strengths and leading technologies.
We also recognize that maintaining the value of our existence requires that we pursue environmental, social, and governance (ESG)-related initiatives, and we recognize this as a key management issue.
│Addressing Climate Change with Environmentally Mindful Business Activities
Casio regards the advancement of environmental initiatives, including steps to address climate change, as a key issue across its corporate activities. With the aim of achieving net-zero greenhouse gas emissions by the fiscal year ending March 31, 2051, Casio has set reduction targets for the fiscal year ending March 31, 2031. In addition to obtaining validation for these targets from the Science Based Targets initiative (SBTi) in the fiscal year ended March 31, 2022, Casio also signed on to the RE100 initiative. Specific initiatives are already underway, including switching to 100% renewable energy for the electricity used at six of our sites in Japan. In July 2022, we also disclosed scenario analyses we conducted based on the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).
Casio has always been known for its prowess in creating products with low environmental impact: we have delivered compact, lightweight, slim, and power-conserving performance for years. We remain committed to making social and environmental contributions through our business for years to come.
│Building a Corporate Culture Where Each and Every Employee Makes the Most of Their Talent
The enhancement of human capital is also a key issue, when it comes to continuing to create products and services that optimally serve the purposes of those who use them.
At Casio, we are working to formulate and implement human resource strategies designed to foster the mindset of “Challenge, Change, and Collaboration.” At the same time, we are developing a project to build a next-generation environment that provides optimal work styles for each workplace and job role in order to promote collaboration both inside and outside the group. We are also focused on diversity, striving to develop diverse human resources, enhance our management methods, and implement various training programs. In all of these efforts, we aspire to build a corporate culture in which each and every one of our employees, with all the diverse values they have, is able to make the most of their talent.
As a medium- to long-term goal, we will press forward with these strategies to continuously shape our corporate culture, maintaining respect for diversity and ensuring that each person feels motivated and energized about their job.
│Respect for Human Rights from a Global Perspective
Engaging in business worldwide, Casio considers maintaining respect for its diverse stakeholders’ human rights to be a matter of exceeding importance. Insufficient responses to human rights issues can develop into serious business risks, including significant declines in corporate brand value, product boycotts, and suspension of business transactions by business partners. At Casio, as we continue with the global expansion of our business, we recognize that respect for human rights is a key sustainability issue, and we are committed to enhancing our initiatives in line with international human rights-related codes of conduct.
In 2014, we established the Casio Group Basic Policy on Respect for Human Rights and created a tool of our own for monitoring the status of human rights-related initiatives on an ongoing basis across the entire Casio group, in and outside Japan. Going forward, we will implement the PDCA cycle at all business sites to enhance human rights due diligence across the entire group.
│Steady Progress on Strengthening Corporate Governance
Working to strengthen and enhance corporate governance is another key management issue in the pursuit of sustainability. We consider invigorating the function of the Board of Directors a matter of particular importance, and we are taking steps to make that happen.
We have enhanced the oversight, supervision, and audit functions of the Board of Directors and the Audit & Supervisory Committee by appointing the chair of the Audit & Supervisory Committee from among those committee members who are also outside directors, and by promoting close communication between outside and inside directors through meetings and other channels.
We have also strengthened the role of the outside directors by requiring that the they make up a majority of the membership of the Nomination and Compensation committees and chair those committees, as well. These committees serve to strengthen the transparency, independence, objectivity, and accountability of the processes for deciding director appointments and compensation.
Furthermore, we have introduced a system whereby the outside directors now attend, as appropriate, the Management Meeting, Internal Control Committee, and Sustainability Committee, where they exercise an advisory function by offering opinions and comments.
As we continue to contribute to society for years to come, Casio will value dialogue with stakeholders in our commitment to making the most of the characteristics that make Casio’s existence so valuable.
Representative Director, Chairman