TOPY INDUSTRIES, LIMITED
Art Village Osaki Central Tower
1-2-2, Osaki, Shinagawa-ku, Tokyo, 141-8634
TEL: 03-3493-0777 FAX: 03-3493-0200
http://www.topy.co.jp
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Account name: Topy Industries, Ltd.
User name: @TOPY_INDUSTRIES
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TOPY
Report
2023
TOPY Report 2023
TOPY
Report
2023
With an eye on the future society of 2050, the Group is committed to contributing to the realization of
a carbon-neutral society and addressing societal challenges in an era of major transformation.
Under the Group's fundamental philosophy to"fulll its responsibilities as a public institution and contribute to the realization of a sustainable recycling -oriented society through the continuation and development of its business,"we are advancing sustainability activities. As the movement toward carbon neutrality by 2050 gets into full swing, the Group will further promote efforts to address various ESG issues, including climate change, in order to continue to be a company trusted by society for many years to come.
TOPY Sustainable Green Vision 2050
-
Aiming to realize an afuent society where people can live safely and healthily, we will continue to
grow sustainably beyond the times -
2050
Achieve carbon neutrality
2030
Reduce CO2 emissions by 46% (compared to FY2013)
Promote green business
2040
Reduce environmental impact
A global corporation in harmony with people and the environment
An afuent
society where
people can
live safely and
healthily
TOPY Active & Challenge 2025
ersity | |||||
d div | |||||
n an | |||||
onizatio | |||||
ecarb | |||||
ue d | |||||
Purs |
Reduce CO2 emissions by 46%
Contribute to achieving the SDGs
"A company that creates new value and leads in solving social issues"
of customers
Accelerate contributions to
realization of low-carbon society
Strengthen resilience
A solid management
foundation for
sustainable growth
Financial strategy
Business
strategy
Sustainability
strategy
01 TOPY Report 2023
Medium- to long-term innovation | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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S |
The green concept
In this vision,"going green"is not limited to reducing environmental impact, also includes the broader concept of activities that aim to contribute to the optimization of all ESG issues that should be addressed by the Group.
TOPY Report 2023 | 02 |
Group Basic
Philosophy
Contents
The Topy Industries Group will fulfill its responsibilities as a public institution and contribute to the realization of a sustainable recycling-oriented society through the continuation and development
of its business.
Group Code of
Conduct
-To win the trust and respect of society - | |||
Under the Group Basic Philosophy, the | |||
management and employees of the Topy | |||
Industries Group shall strictly abide by | |||
all applicable laws and ordinances, the | |||
spirit reflected, and the Corporate Code of | |||
Basic Sustainability | |||
Conduct, while accepting full corporate social | |||
responsibility and fostering an open-minded | Policy | ||
and creative corporate culture. | The Topy Industries Group will promote | ||
Contents and Editorial Policy
Chapter 1 Value Creation
Businesses of the Topy Industries Group
History of the Topy Industries Group
Value Creation Process of
the Topy Industries Group
Business Model and Strengths of the Topy Industries Group
Pursuit of High Added Value through Proprietary Technologies
Non-Financial Capital to Support Value Creation
Special Feature
Human Resources Strategies
Chapter 2 Growth Strategies
Top Message
Medium-Term Management Plan
Special Feature DX Strategies
Message from the Ofcer in Charge of Finance
04 | Chapter 3 Business | S | Social Responsibility | ||
Steel Segment | 29 | Relationship with Customers | |||
Automotive and Industrial Machinery | and Business Partners | 49 | |||
05 | Contribute to Society through | ||||
Components Segment | |||||
07 | (Wheels for Passenger Vehicles) | 31 | Business | 51 | |
Automotive and Industrial Machinery | Contribution to | ||||
09 | Components Segment (Commercial | Local Communities | 52 | ||
and Off the Road Wheels) | 33 | Respect for Human Rights | 53 | ||
Automotive and Industrial Machinery | |||||
11 | Strengthening Human Capital | 54 | |||
Components Segment (Undercarriage | |||||
Parts for Construction Machinery) | 35 | G | Corporate Governance | ||
13 | Business Development Segment | 37 | |||
Management Team | 61 | ||||
Chapter 4 Sustainability | |||||
15 | Corporate Governance | 63 | |||
Stakeholder Engagement | 38 | ||||
17 | Identication of Materiality | 39 | Chapter 5 Corporate Data | ||
Promotion System for | |||||
Our History | 69 | ||||
Sustainability Management | 40 | ||||
19 | Consolidated Financial | ||||
23 | E Environmental Initiatives | Performance for the Past | |||
11 Years | 71 | ||||
25 | Environmental Management | 41 | Non-Financial Highlights | 73 | |
27 | Response to Climate Change | 43 | Major Subsidiaries & Afliates | 75 | |
Responding to Environmental | IR Information | 76 | |||
Risks and Contributing to the | |||||
Establishment of a Recycling- | |||||
Oriented Society | 45 | ||||
Reducing Environmental Impact | |||||
through Products and Services | 47 |
management based on the Group Basic |
Philosophy and aim to enhance sustainable |
corporate value and contribute to the sustainable |
development of society through the pursuit of |
technological innovation and the resolution of |
social issues. |
Editorial Policy
Basic Policy
Topy Report 2023 provides selected important information focusing on the company 's management strategies to improve corporate value in the medium to long term, including information related to its business activities, operating results, social responsibilities, and management control system. The aim of this report is to encourage candid dialogue with our stakeholders, including shareholders, investors and related parties.
The IFRS's International Integrated Reporting Framework and the Ministry of Economy, Trade and Industry's Guidance for Collaborative Value Creation were used as references in the creation of this report.
Reporting Scope
This report covers all companies listed as subsidiaries of the Topy Industries Group (consolidated basis). However, some activities and data represent only Topy Indus- tries, Ltd. In principle, activities where the scope is not specied refer to those of the Topy Industries Group. Where it is necessary to specify the applicable scope, activities by Topy Industries alone are identied within the headline or descriptions as Topy Industries or the"Company,"and activities by an individual Group company are identied by its corporate name.
Reporting Period
Covers mainly FY2022 (April 1, 2022 to March 31, 2023), but also includes some activities that occurred on and after April 1, 2023.
Date of Issue
October 2023
Inquiries Regarding this Report
Topy Industries, Ltd.
(General Affairs Department)
Art Village Osaki Central Tower, 1-2-2
Osaki, Shinagawa-ku, Tokyo 141-8634,
Japan
TEL: +81-3-3493-0777
03 | TOPY Report 2023 | TOPY Report 2023 | 04 |
Chapter | |
1 | Value Creation |
Businesses of the Topy Industries Group
The Topy Industries Group is a comprehensive metal processing group with an integrated production procedure from raw material production to the fabrication of nished products. Within this, the steel segment engages in raw material supply and the automotive and industrial machinery components segment unit deals in material processing, both of which are interrelated. The Group is also striving to diversify its businesses, which now encompass the power generation segment, manufacture and sale of mica, research and development of robots, leasing of real estate, and operation of sports clubs.
(JPY million) | ||||||
Net sales | Operating prot | |||||
334,496 | 7,175 | |||||
Automotive and Industrial Machinery | 198,147 | 4,016 | ||||
Sales | Components Segment | 59.24% | ||||
Steel Segment
A raw material business operated since our foundation
At the Topy Industries Group (the"Group"), the steel business unit produces steel using electric furnaces as well as a wide variety of steel bars. Wide ange beams, general section steels and deformed bars are shipped as construction materials chiey to customers in both domestic and overseas markets, while deformed section steels are largely supplied to the company's automotive and industrial machinery components segment unit where they are turned into n- ished products. This business unit includes companies engaging in the collection and recycling of steel scrap, a transportation company, and a trading company that acts as the logistics and trading arms of the unit. In addition to inter-group business transactions, it also sells products and provides services to customers outside the Topy Industries Group.
Net sales | Operating profit (loss) | (JPY million) | ||||
15,000 | 107,971 | 125,000 | ||||
12,000 | 88,915 | 100,000 | ||||
80,442 | 73,404 | 75,657 | 75,000 | |||
9,000 | 8,038 | |||||
6,000 | 50,000 | |||||
3,000 | 4,142 | 25,000 | ||||
2,248 | ||||||
1,293 | ||||||
0 | (625) | 0 | ||||
-3,000 | -25,000 | |||||
2018 | 2019 | 2020 | 2021 | 2022 | (FY) |
Value Creation
Growth
by segment | Steel Segment | 107,971 | 8,038 | ||
in FY2022 | 32.28% | ||||
Power Generation Segment | 21,957 | (566) | |||
6.56% | |||||
Other Segment | 6,418 | 1,360 | |||
1.92% | |||||
General | Deformed | |
section | section | |
steels | steels | |
Steels for use within the company | Steel construction materials | Steel materials for ships and |
industrial machinery |
Strategies
Business
Automotive and Industrial Machinery Components Segment
Power Generation Segment
Other Segment
A world-leading comprehensive manufacturer of wheels and undercarriage parts for construction machinery
We manufacture and sell products including steel and aluminum wheels for automobiles, wheels for mining vehicles, undercarriage parts for construction machinery (track shoes*1 and tracks*2 ), and industrial steel fasteners for automobiles such as precision leaf springs.
*1 Track shoes: Component of tracks manufactured by processing and heat-treating hot rolled steel materials (special steel).
Track shoes and other components are assembled to form tracks.
*2 Tracks: A general name for the assembled undercarriage components of construction machinery vehicles, which are generally called a steel track belt.
Net sales | Operating profit (loss) | (JPY million) | |||||
10,000 | 188,175 | 198,147 | |||||
174,015 | 200,000 | ||||||
166,542 | |||||||
8,000 | 7,833 | 160,000 | |||||
136,113 | |||||||
6,000 | 120,000 | ||||||
4,000 | 4,813 | 4,016 | 80,000 | ||||
2,000 | 1,657 | 40,000 | |||||
0 | (221) | 0 | |||||
-2,000 | -40,000 | ||||||
2018 | 2019 | 2020 | 2021 | 2022 (FY) |
Focusing on the stable supply of electricity while paying utmost consideration to maintaining harmony with the surrounding environment
Net sales | Operating profit (loss) | 21,957 | (JPY million) | |||
4,000 | 20,000 | |||||
3,000 | 15,000 | |||||
2,000 | 10,567 | 9,326 | 10,000 | |||
7,583 | ||||||
1,000 | 9,718 | 5,000 | ||||
0 | (1,957) | (566) | 0 | |||
-1,000 | 1,228 | 852 | 165 | -5,000 | ||
Creating new sources of prot
Net sales | Operating profit (loss) | (JPY million) | |||
2,500 | 7,041 | 6,558 | 6,418 | 7,500 | |
6,001 | |||||
2,000 | 5,767 | 6,000 | |||
1,500 | 1,550 | 1,360 | 4,500 | ||
1,000 | 893 | 1,023 | 3,000 | ||
500 | 1,500 | ||||
0 | (185) | 0 |
Sustainability
Wheels | Undercarriage parts for | Industrial fasteners |
construction machinery | (precision leaf springs, etc.) | |
(track shoes, tracks) |
Wheels for | Wheels for commercial vehicles | Ultra-Large Wheels for |
passenger vehicles | Mining Equipment [SGOR®] |
Track shoes
Aluminum
Steel
Industrial fasteners
Tracks
Steel
-2,000 | -10,000 | |||
2018 | 2019 | 2020 | 2021 | 2022 (FY) |
We took electricity deregulation as an opportunity to construct a coal thermal power plant (Toyohashi-shi, Aichi) while paying utmost consideration to maintaining harmony with the surrounding environment, and began to operate our electricity wholesale business in 2000. In December 2022, the plant began generating power using biomass solid fuel produced from food waste and sewage sludge in Toyohashi- shi, contributing to local production for local consumption of energy.
Power plant | Biomass solid fuel |
-500 | -1,500 | |||
2018 | 2019 | 2020 | 2021 | 2022 (FY) |
In the Business Development Area, we are expanding sales of mica (ar- ticial mica), which is used for cosmetics and other products, in Japan and other countries, while conducting research and development for crawler robots utilizing our suspension technology. We also lease real estate, such as TOPYREC PLAZA (https://topyrecplaza.com/) (Mina- mi-suna,Koto-ku, Tokyo), and operate sports clubs, including OSSO.
Mica for cosmetics | Robots |
Corporate Data
05 | TOPY Report 2023 | TOPY Report 2023 | 06 |
Chapter 1
Value Creation
History of the Topy Industries Group
Three strengths developed over our 100-year history
In 1964, our integrated production system for producing and making full use of steel was completed through the merger of four companies (engaging in businesses concerning steel and wheels, undercarriage parts for construction machinery, and others). The integration of different businesses has led to the global development of the automotive and industrial machinery parts segment and the creation of new businesses (industrial fasteners, power generation, mica, and other businesses), creating management stability and contributing to earnings growth.
Steel | Wheels | Undercarriage parts | Power generation | Business development |
for construction machinery | ||||
(JPY billion) | (JPY billion) | ||||||
350 | 35 | ||||||
300 | Net sales | Operating profit | 30 | ||||
250 | 25 | ||||||
200 | 20 | ||||||
150 | 15 | ||||||
100 | 10 | ||||||
50 | 5 | ||||||
0 | 0 | ||||||
(FY) | 1964 | 1970 | 1980 | 1990 | 2000 | 2010 | 2020 |
-5 |
*FY1964 to FY1976: Non-consolidated FY1977 to FY2022: Consolidated |
Value Creation
(Year)
Founded in 1921 | |
Origin of deformed section steel technologies |
Establishment of an integrated production system
2000
2020 |
Growth
Japan
1921
Foundation of Miya
Steelworks (predecessor of
Toto Steel Mfg., Co., Ltd.)
1922 | 1953 | ||||||
● Miya Steelworks succeeds | Hot-rolling and | ||||||
in hot-rolling steel sash bars | the commercial | ||||||
(window frames) | production of | ||||||
track shoes starts | |||||||
1930
- Teikoku Hatsujo Seisakusho (the predecessor of Japan Motor Wheel Co., Ltd.) commences the production of prototype steel wheels for automobiles
1964
Topy Industries, Ltd.
is established
Through the merger of Japan Motor Wheel Co., Ltd., Toto Steel Mfg., Co., Ltd., Toto Zoki Co., Ltd., and Toto Tekko Co., Ltd.
2008
Strengthening of the business alliance with Nippon Steel Corporation
2009
The production capacity of the rolling mill shop for medium-size steel products (a rolling line for deformed section steel) is increased at the Toyohashi Plant
2014 | 2021 | Strength 1 | |||||
A new steelmaking plant is completed at | 100th anniversary | ||||||
the Toyohashi Plant with the introduction | |||||||
of an environmentally friendly, high- | Integrated | ||||||
efciency electric furnace | |||||||
Production | |||||||
System |
Strategies
Business
Overseas
A building in the early Showa Period (1926 to 1989) with steel sash bars
Steel wheels for passenger vehicles
1985
Expansion into the United States
2003 | 2013 | 2016 |
Expansion | Expansion into | The business and capital |
into China | Mexico | alliance with MW Italia |
S.R.L. is strengthened | ||
Aluminum wheels for | ||
passenger vehicles |
Wheels for | 2013 | ||
Expansion into | |||
commercial vehicles | |||
Indonesia | |||
2017
Expansion into
India
2018
Expansion into China and Thailand (Asahi Tec Corporation becomes a wholly owned subsidiary)
Strength 2
Global
Expansion of
the Processing
Division
Sustainability
Wheels manufactured by Teikoku | Undercarriage parts for |
Hatsujo Seisakusho | |
construction machinery | |
1999 Expansion into the United States
2002 | 2013 |
Expansion | Expansion into |
into China | Indonesia |
Technologies and new businesses | ||||||||||||||||||
1974 | 1982 | |||||||||||||||||
Commencement of the | Development of SGOR®, | |||||||||||||||||
industrial fastener business | the world's largest wheel for | |||||||||||||||||
mining vehicles | ||||||||||||||||||
Developed from metal | ||||||||||||||||||
processing technologies | 1987 | |||||||||||||||||
Practical application | ||||||||||||||||||
of high-quality mica | ||||||||||||||||||
for cosmetics | ||||||||||||||||||
Developed from electric | ||||||||||||||||||
furnace melting technologies |
1989
Heat treatment efciency improved through the development of low- carbon boron steel for track shoes
2000
The power generation business is launched
Use of existing infrastructure of the steel business for the power generation business (including land, quays and power transmission facilities)
2009 | 2018 | |||||
Development of lighter weight wheels | Launched TACoil®, Japan's | |||||
• Adoption of rims made of deformed section | rst compact coil made of steel | |||||
steel and discs formed through cold spinning | bars wound at high density for | |||||
(rocking die forming) (for commercial vehicles) | reinforced concrete | |||||
• Adoption of high-tensile-strength steel sheet | ||||||
(for passenger vehicles) | ||||||
2021
Launched Evolution Type SGOR® wheels for mining vehicles
Strength 3 |
Value Creation |
through |
Proprietary |
Corporate Data
Environmentally friendly | of the steel business | ||
1992 | 2001 |
Established Global | Developed chrome- |
Environment Ofce | free pretreatment |
technology for | |
aluminum wheels |
2010 | 2018 | 2020 | ||
Started mass production of ISO | Received Energy | Toyohashi Plant received gold | ||
method wheels combined with ECOD- | Conservation Center | rating in the CSR company | ||
processed discs, achieving a weight | Chairman's Award at the | evaluation by EcoVadis of | ||
reduction of approximately 15%. | Energy Conservation Grand | France | ||
Prize 2017 | ||||
2020 | Technologies |
Introduced water-soluble | |
coating for crawler tracks | |
to reduce VOC emissions |
1971 |
Established Topy Industries
Central Environmental Facilities
Committee
07 TOPY Report 2023
1998 to 1999 |
ISO 14001 certication |
obtained at four Topy |
Industries plants |
2004 | 2013 | 2020 | 2022 | |
「Topy Industries Environmental Philosophy | Started EneKatsu 2020 | Acquired right to use EcoLeaf | Formulated long-term | |
Formulated Topy Industries Basic | Environmental Label for six | vision for sustainability | ||
Environmental Policy | products | |||
TOPY Report 2023 | 08 |
Chapter 1
Value Creation
Value Creation Process of the Topy Industries Group
Creating social value and achieving sustainable growth based on advanced technological capabilities and
an integrated production system for producing and making full use of steel
The Group has paved the way for global expansion by providing products and services that meet the needs of customers and society based on its advanced technological capabilities and integrated production system for producing and making full use of steel and continued to grow by applying its core technologies to expand business into peripheral elds. Going forward, we will continue to achieve sustainable growth by maximizing the strengths and management resources we have developed over the years, while working to solve social issues and create social value.
Value
Medium-Term Management Plan
2022 to 2025
TOPY Active & Challenge 2025
TOPY Sustainable Green Vision 2050
Creation
INPUT
Manufacturing P. 15 capital
Production bases in Japan and overseas and highly
Group Basic Philosophy
Basic Sustainability Policy
Business model | |||||
Steel | |||||
Strength | Electric furnace | • Steel construction materials | |||
steelmaking technologies | • Steel materials for ships and | ||||
industrial machinery | |||||
Technologies for rolling | |||||
deformed section steel | |||||
Steel for use within | |||||
the company |
OUTCOME
Recycling of scrap iron, etc. using electric furnaces
Enhancement of the functionality of steel materials for various purposes
Improvements in the safety and functionality of wheels and undercarriage parts for construction machinery
Group Basic Strategy
Promote segment | Strengthen domestic | |||
management | business base | |||
Strengthen overseas | Contribute to | |||
protability | decarbonization | |||
Three key strategies | ||||
Business | ||||
strategy | ||||
Five key | ||||
themes | ||||
Financial | Sustainability | |||
strategy | strategy | |||
Non-nancial | ||||
Financial | ||||
goals | goals | |||
Materiality |
An afuent society
where people can live
safely and healthily
A global corporation | A solid |
in harmony with | management |
Growth Strategies
Business
efcient manufacturing
facilities and lines
Intellectual | P. 15 |
capital | |
Proprietary technologies and know-how, and R&D for future growth
Human capital P. 16
Strength 1
Integrated
Production
System
Strength 2
Automobiles and | • Wheels for passenger vehicles | ||||
industrial machinery | (steel, aluminum) | ||||
Steel wheels for commercial | |||||
Metal processing | |||||
vehicles | |||||
technologies | |||||
Ultra-large wheels for mining | |||||
Heat treatment | |||||
equipment | |||||
technologies | |||||
• Undercarriage parts for | |||||
Coating technologies | construction machinery | ||||
(track shoes, tracks) | |||||
Procurement | Stable supply chain within and | ||||
outside the Group | |||||
Provision of a stable energy supply
Improvements in the safety and functionality of cosmetics using impurity-free synthetic mica as a raw material
Reductions in manpower and energy needs using robots
Promotion | |
of green | |
innovation | |
Environment | |
E | Contribution |
to building | |
a recycling- | |
oriented |
people and the | foundation for |
environment | sustainable growth |
Sustainability
Diverse human resources
capable of supporting
sustainable growth
Social capital P. 16
Trust from customers, business partners, local communities, and other stakeholders
Natural capital P. 16
Global Expansion
of the Processing
Division
Strength 3
Value Creation
through
Proprietary
Recycling
Development and design
Production
Supply and sales
Product development and design capabilities that leverage the technological strengths and synergies of each process
Ability to produce products efciently and stably in an environmentally friendly manner
Ability to handle a wide variety of products in small lots and global supply system of the processing division
Economic Value
Financial capital targets
(medium-term plan)
Rate of operating prot
on sales
4.5% or higher EBITDA .... 32.0 billion yen
ROE ......... 8.0% or higher
society | |
Respect for | |
human rights | |
Social | Support for |
S | diverse human |
resources | |
Contribute to | |
society through | |
business |
Corporate Data
Efcient use of various
resources
Financial capital
Technologies
Power generation | Electricity: Use of the existing infrastructure | |
of the steel business | ||
Business | Mica: Application of electric furnace melting | |
technologies | ||
development | Robots: Application of track manufacturing | |
technologies |
Governance | Build of a solid |
G | management |
foundation | |
Sound nancial footing
09 TOPY Report 2023
TOPY Report 2023 | 10 |
Chapter 1
Value Creation
Business Model and Strengths of the Topy Industries Group
Building a competitive value chain with the One-piece Cycle and supplying high value-added products globally
The Group hopes to create a new movement, using steel as a medium to create a cycle in unison with society through the technology and quality that we have developed over the years to make society more afuent and easier to live in. The One-piece Cycle embodies the thinking of the Group.
Strength 1
Integrated
Production
System
Strength 3
Value Creation
through
Proprietary
Technologies
Source of our product development and manufacturing capabilities
Our integrated production system from materials to n- | Strength 2 |
ished products is the source of our ability to develop | |
products that meet the needs of customers and society | Global |
as well as our manufacturing capabilities that enable us to | |
Expansion of | |
consistently produce high-quality products. In addition, we | |
Processing | |
contribute to the realization of a recycling-oriented society | × the Division |
by recycling steel scrap as the main raw material, while | |
at the same time reducing both environmental impact and | |
costs by utilizing environmentally friendly production facili- | |
ties and energy-saving technologies. |
18 production bases in
7 countries overseas
With production bases around the world, we have established a global supply system capable of meeting the local procurement needs of global automobile and construction equipment manufacturers.
Product lineup with high market share at the top level in Japan and overseas
Value Creation
Materials division | Steel segment | Processing | Automotive and industrial machinery | Products | ||||
Materials | Products | |||||||
division | components segment | |||||||
Procurement | Stable supply chain within |
Development | Product development and design capabilities that |
and design | |
Production | Ability to produce products efciently and stably |
Supply and sales | Ability to handle a wide variety of products in small lots |
and outside the Group | Customers | Society | ||||||
leverage the technological strengths and synergies of each process | ||||||||
Compensation/ | ||||||||
in an environmentally friendly manner | cash | |||||||
Shareholder returns | ||||||||
and global supply system of the processing division | Growth | |||||||
investment | ||||||||
Growth Strategies
Business
External suppliers
Recycling of steel scrap as a raw material
18 production bases in 7 countries overseas* | * Excluding locations in Japan, MW Italia S.p.A., Incoasc, Paco Aquina | |||||||||||
China | ||||||||||||
Topy Undercarriage (China) Co., Ltd. | ||||||||||||
Europe | ||||||||||||
Fujian Topy Autoparts Co., Ltd. | ||||||||||||
(France, Poland, Romania, Russia, and Turkey) | ||||||||||||
(MW Italia S.p.A.) | Ring-Techs Guangzhou Co., Ltd. | |||||||||||
Guangzhou Wheelhorse Asahi Aluminium Co., Ltd. | ||||||||||||
Guangdong Dicastal Auto Parts Co., Ltd. | ||||||||||||
Japan | ||||||||||||
India | ||||||||||||
Topy Industries, Ltd. | ||||||||||||
WIL Car Wheels | ||||||||||||
Ring Techs Co., Ltd. | ||||||||||||
Kyushu Wheel Kogyo, Ltd.
Topy Fasteners, Ltd.
United States
Topy America, Inc. Topy Precision Mfg., Inc.
Sustainability
Corporate Data
Capacity expansion of the Akemi Recycling Center
Approximately | Approximately | |||
Processing capacity | 4,000 tons | 10,000 tons | ||
per month | in 2025 | |||
CO2 emissions from electric | Reduction of approximately 17,000 t/year | |||
furnaces due to recycling |
of dust
South Africa
(MW Italia S.R.L.)
Thailand
Topy Fasteners (Thailand) Ltd.
Asahi Tec Aluminium
(Thailand) Co., Ltd.
Vietnam
Topy Fastener Vietnam Co., Ltd.
Indonesia
PT. Topy Palingda Manufacturing Indonesia
PT. Topy Undercarriage Indonesia
(PT. Inkoasku, PT. Pakoakuina)
Mexico
Topy MW Manufacturing Mexico S.A. de C.V. Topy Fasteners Mexico, S.A. de C.V.
Products produced at each base
Wheels for passenger | Wheels for passenger | Wheels for commercial | Wheels for mining | Undercarriage parts | Industrial | Alliance | |||||||||||||
vehicles (steel) | vehicles (aluminum) | vehicles | equipment | for construction | fasteners | partner | |||||||||||||
machinery | |||||||||||||||||||
11 | Raw materials | Ferrous scrap | 12 | ||||||||||||||||
TOPY Report 2023 | TOPY Report 2023 |
Chapter 1
Value Creation
Pursuit of High Added Value through Proprietary Technologies
Proprietary technologies to meet diverse internal and external needs
Over the years, the Group has nurtured diverse and original technologies under the keyword of making steel and handling steel. We will continue to focus on developing and strengthening technologies that will contribute to solving issues faced by our customers and society and become a source of competitiveness for the Group.
Electric furnace steelmaking technologies
High-efciency electric furnace that achieves the world's top-level low electrode basic unit
The Toyohashi Plant Steelmaking Factory began operations in March 2015, with the upgrading of aging equipment and a supply system resistant to disasters such as the anticipated Nankai Trough earthquake. We introduced one of Japan's largest 200-toneco-friendlyhigh-efciency electric furnace (ECOARC™*) and made subsequent changes in operation methods, such as in-furnace atmosphere control to suit the characteristics of the ECOARC™ furnace. By improving operations using our unique technology and know-how, we have achieved energy conservation and cost reduction, leading to further decreases in per-unit electrode consumption. The steelmaking factory is now one of the most environmentally friendly and competitive in Japan, operating only on inexpensive nighttime electricity due to increased steelmaking capacity, and becoming self-sufcient in billets for steel bars by introducing a continuous casting machine for both blooms and billets.
*ECOARC™ is a registered trademark of Steel Plantech Co.
Metal processing technologies
Achieved weight reduction and high strength and quality, and gained about 90% of the Japanese market share
The company boasts world-class productivity, capable of manufacturing commercial | Value | |
wheels as fast as one every nine seconds. Rim materials for commercial vehicle wheels | ||
are made from our electric furnace materials, which are effective in achieving carbon neu- | ||
trality. Through our technologies for rolling deformed section steel, we have reduced the | Creation | |
weight of the rim material by making it as thin as possible while maintaining its strength, | ||
which greatly contributes to improved fuel efciency. In addition, discs manufactured | ||
through our unique ECOD molding process can signicantly reduce waste materials | ||
compared to general manufacturing methods, contributing to resource conservation. | ||
Steel wheels for commercial vehicles | Growth | |
Our steel wheels for trucks and buses are made of deformed section steel, which | ||
we have independently developed based on our advanced analysis technology and | ||
accumulated know-how, to reduce weight and achieve high strength and quality. | ||
We have captured approximately 90% of the domestic market share of steel wheels | Strategies | |
sold to automobile manufacturers. | ||
Heat treatment technologies
Achieving high durability of undercarriage parts for construction machinery | Business |
Energy saving and cost reduction effects
By using the heat energy from the exhaust gas, which used to be discarded, to preheat steel scrap and continuously feed it into the electric furnace, we have been able to signicantly reduce the amount of electricity used. In addition, continuous melting by at bath operation, in which scrap is continuously fed from the preheating shaft into the hot water pool of the electric furnace, has resulted in improved productivity and sig- nicant cost reduction due to the reduction of inactive time and heat extraction.
Heat generation efciency improvement of 4.9% Total energy consumption reduced by 7.7%
Maintain exhaust gas | |||
temperature | |||
Maximize the use of scrap | |||
preheating | |||
Secondary combustion of | |||
Shaft | unburned gases such as CO is | ||
output side | |||
used to achieve these goals. | |||
exhaust gas | |||
temperature | |||
must be above | |||
a certain level. | |||
20% reduction in steelmaking costs compared to conventional equipment Lowest cost level in Japan
Our strength lies in our technology that increases | |
strength, wear resistance and toughness based | |
on a proprietary heat conduction analysis system | |
through repeated heating and cooling. In addition, | |
by developing the world's fastest link processing | |
line and an automatic link belt assembly line that | |
no other company can match, we supply stable | |
quality and low-cost crawler belts to the world. | Sustainability |
Tracking shoes, the material used in tracks, are one of our | |
core products. They are manufactured in an integrated man- | |
ner in-house, from material selection to completion, in close | |
cooperation with the Steel Division, which handles steelmak- | |
ing and rolling. |
Technologies for rolling deformed section steel
Manufacturing various complex cross-section steel to meet the needs of customers
One of our strengths is our deformed section steel manufacturing technology that makes full use of our unique numerical analysis. Although deformed section steel products with asymmetrical cross sections are prone to bending during the rolling process, we are able to correct the bending by having our production lines convey the special shapes.
Mast materials for forklift trucks
This steel shape is used for the vertical section (mast) at the front of a forklift. It is a product that requires high strength as well as wear resistance and weldability.
13 TOPY Report 2023
Coating technologies | DataCorporate | ||||
Responding to the diversifying needs of customers and society | |||||
Leveraging our coating technology that enables metallic par- | |||||
ticles to be uniformly and precisely oriented, we have de- | |||||
veloped satin, bronze, and high-glossglitter-colored wheels | |||||
for high-grade vehicles, in addition to conventional plated | |||||
wheels, which stand out for their premium appearance, in or- | |||||
der to differentiate ourselves from our competitors and meet | |||||
diversifying needs. We are also actively promoting environ- | |||||
mental friendliness by using low-temperature baking paints | |||||
and improving coating efciency. | |||||
TOPY Report 2023 | 14 |
Chapter 1
Value Creation
Non-Financial Capital to Support Value Creation
Strengthening non-financial capital for further value creation
Manufacturing capital | Intellectual capital |
Production bases in Japan and | Proprietary technologies and know- |
overseas and highly efcient | |
how, and R&D for future growth | |
manufacturing facilities and lines | |
Non-nancial capital, including technological capabilities that have been continuously rened over the 100 years since our founding and human resources that are the source of value creation, are important management resources that support the sustainable growth of the Group.
We are working to strengthen our non-nancial capital for further evolution of value creation.
Value Creation | ||||
Human capital | Social capital | Natural capital | ||
Growth | ||||
Diverse human resources capable of | Trust from customers, business | Strategies | ||
partners, local communities, and | Efcient use of various resources | |||
supporting sustainable growth | ||||
other stakeholders | ||||
Concept of capital
The Group has a wide range of production bases in Japan and overseas, manufacturing product in optimal locations according to product characteristics and customer needs. We promote the supply and cross-sourcing of materials and the sharing of development and manufacturing roles among our production bases to build an efcient global production system and support the integrated production system from materials to products and the resource-recycling business model that is a characteristic of the Group.
In addition, at each of our production bases, we are introducing highly efcient manufacturing equipment and constructing production lines to create products that are competitive in terms of both cost and environmental friendliness.
Throughout its more than 100-year history, the Group has always been a pioneer, repeatedly taking on new challenges with originality and ingenuity, and creating diverse and creative technologies. Recently, customers have requested a wide range of products in terms of weight reduction, shape and size, and environmental friendliness, and the Group's strength lies in its ability to respond to such requests, backed by the proprietary technologies and know-how it has developed over the years.
Furthermore, by applying these technologies and know-how, we have created new technologies, leading to the expansion of our business.
We believe that our human capital is our greatest asset and that reinforcing it is the source of our value creation.
In order to respond to rapidly changing society and technology and open the way to the future, we need human resources who can always think and act on their own initiative. We also believe that the ability to create new value comes from diverse human resources who recognize each other's differences in values, enhance organizational capabilities, and take on the challenge of achieving major goals.
The Group is working to strengthen its human capital through human resources development and the creation of a workplace environment in which a diverse range of human resources can play an active role.
The Group has earned the trust of its customers by providing products and services that meet their needs. In addition, by building strong relationships of trust and cooperation with many of our business partners and alliance partners, we are able to provide a stable supply of products and services around the world.
Moreover, coexistence with the local communities in which we operate is essential to our business activities, and each of our production bases engages in activities that contribute to the local communities in which it is located.
The business activities of the Group are closely related to natural capital, including the use of water resources and mineral resources as raw materials for products and fuel for power generation.
Through its resource-recycling business model, the Group contributes to the realization of a sustainable, recycling-oriented society by effectively utilizing limited resources through recycling. We also view promotion of green innovation as a materiality and promote efcient use of natural capital and environmental impact reduction through development and advancement of environmental technologies to conserve the global environment and biodiversity as well as to create economic value.
Business
Strengths of
capital/current status
• Optimal global production system | • Electric furnace steelmaking technologies |
(Japan and 18 production bases in 7 | • Technologies for rolling deformed section |
countries overseas) | steel |
• ECOARC™, an environmentally friendly | • Metal processing technologies |
high-efciency electric furnace | • Heat treatment technologies |
• Crude steel production capacity of approx. | • Coating technologies |
1 million tons/year | • Business development strategy center |
• Advanced metal sorting equipment at the | • R&D expenditures 1.0 billion yen (FY2022) |
Akemi Recycling Center | |
• Manufacturing facilities and lines based on | |
proprietary technologies | |
• Capital investment 8.9 billion yen (FY2022) |
• Promotion of green innovation | ||||
Related materiality | • Contribution to building a recycling- | • Promotion of green innovation | ||
oriented society | ||||
• Contribute to society through business | ||||
• Global production bases | P. 12 | • Proprietary technologies | P. 13 | |
• Proprietary technologies | P. 13 | • Development of environmentally | P. 47 | |
Initiatives for | • Responding to environmental risks | friendly products | ||
and contributing to the establishment | P. 45 | • Technical education (development | P. 54 | |
strengthening capital | of recycling-oriented societies | of education system) | ||
• Quality | P. 49 | • Intellectual property policy | P. 68 | |
15 TOPY Report 2023
• Number of consolidated employees: | • High market share based on customer trust | • CO2 emissions | Sustainability | |||
approx. 5,700 | · Steel wheels for passenger vehicles: | (consolidated, Japan, FY2022) | ||||
• Ratio of employees at overseas production | approx. 55% in Japan | Scope 1 233 thousand tons CO2 | ||||
bases: 43% (FY2022) | · Steel wheels for commercial vehicles: | Scope 2 332 thousand tons CO2 | ||||
• Human resources development based on | approx. 93% in Japan | Scope 3 1,334 thousand tons CO2 | ||||
an education system | · Ultra-large wheels for mining equipment: | • Environmental management system ISO | ||||
• Promotion of environmental improvement | approx. 90% in Japan and overseas | 14001 certication ratio (consolidated and | ||||
and other measures to promote diversity | · Track shoes for hydraulic excavators: | production sites): 75% (FY2022) | ||||
• Efforts to improve ES (employee satisfaction) | approx. 71% in Japan | • Monthly processing capacity of the Akemi | ||||
• Promotion of Health Management®* | *All of the above are actual sales shares for au- | Recycling Center: approx. 4,000 t | Corporate | |||
tomobile manufacturers and construction equip- | ||||||
ment manufacturers in FY2022 (based on re- | ||||||
search by Topy) | ||||||
• Respect for human rights | • Respect for human rights | • Promotion of green innovation | Data | |||
• Contribution to building a recycling- | ||||||
• Support for diverse human resources | • Contribute to society through business | |||||
oriented society | ||||||
• Human resources strategy | P. 17 | • Quality | P. 49 | • Resource-recycling value chain | P. 11 | |
• Human resources development | P. 54 | • Supply chain management | P. 50 | • Environmental management | P. 41 | |
• Diversity | P. 55 | • Ensuring fair trade | P. 50 | • Response to climate change | P. 43 | |
• Improvement of employee satisfaction | P. 57 | • Contribution to communities | P. 51 | • Biodiversity preservation and | P. 45 | |
• Health and safety | P. 59 | • Respect for human rights | P. 53 | chemical management | ||
• Dialogue with shareholders | • Waste reduction and recycling | P. 46 | ||||
and investors | P. 68 |
*Health Management® is a registered trademark of the Institute for Health Management, a non-prot organization.
TOPY Report 2023 | 16 |
Chapter 1
Value Creation
Special Feature Human Resources Strategies
The Group aims to achieve sustainable growth by making appropriate investments in human resources in order to maximize their potential. The basic concept of the Human Resources Development Policy is to"create human resources who continue to develop through their work,"and we encourage employees to feel a sense of growth through working for the Group, thereby fostering a desire to
Creation of organizational results | ||
Output | To clearly manifest results, we are strengthening initiatives that celebrate | ■ Promotion of job crafting |
■ Evaluation system based on human resources | ||
- Manifest results - | results through presentations and awards. | development |
■ Expansion of opportunities for improvement | ||
suggestions and project proposals | ||
contribute to their peers and to the organization. Since 2015, we have been continuously working to improve our corporate culture through activities to enhance job satisfaction, creating an environment in which employees can proactively engage in their work. We will continue to engage in improvement activities so that employees can continue to work with peace of mind in a lively atmosphere.
Takanori Yoshikawa
General Manager,
Human Resources Department
Topy Industries Group Human Resources Development Policy
• Create human resources who continue to | • Continue to produce future business leaders |
develop | • Create an organizational environment that |
• Strengthen employees'capability to respond | permits diverse human resources to work |
to environmental changes | actively in various ways |
- Support employees in their autonomous career development
Develop
- Nurture -
Reward
- Compensate -
We provide opportunities for reskilling and various exchanges with the | Fostering a mindset for development |
■ Expansion of managerial staff education | |
aim of fostering a proactive spirit of improvement. | ■ Support for relearning (reskilling) |
■ Introduction of training to promote innovation | |
We are conducting a fundamental review of our human resources sys- | Implementation of evaluations and pay raises |
in a balanced manner | |
tems based on the concept that results are dened as problem-solving | ■ Review of personnel treatment system (personnel |
ability combined with the ability to take action that leads to results. | evaluation, grading system, promotion system, etc.) |
■ Expansion of various awards |
Value Creation
Growth Strategies
Strategies and initiatives for FY2025
- Providing opportunities for self-awareness realizations: 1-on-1meetings, thorough implementation and revision of the evaluation system, expansion of 360-degreesurveys, etc.
- Quality improvement of awareness based on realizations: cross-in-dustry exchanges, culture improvement workshops, training to en- hance DX literacy, etc.
- Quality improvement of actions based on consciousness change: cross-industryexchange training, idea proposal systems, etc.
Vision for 2030
- Quality improvement of corporate culture through the human re- source strategy implementation process
- Enhancement of human capital leading to human resource growth and higher protability
- Securing diverse human resources in consideration of sustainabil- ity management
- Human resources development in response to innovations in DX technologies such as AI and automation
Business | ||||
We aim to be a company where people want to continue to work, through | Enhancement of recruiting strength and | |||
Attract | measures that are carefully tailored to each employee with diverse val- | diversication of work styles | ||
■ Promotion of D&I recruitment and diversication of | ||||
ues. We have established a system to support employees with various | ||||
backgrounds who have challenges or difculties in working, and we are | recruiting methods | |||
- Draw in - | ■ Promotion of remote working (promotion of telework) | |||
improving the working environment for them. We will continue to support | ■ Introduction of hourly annual leave | |||
diverse working styles while listening to the voices of our employees. | ■ Introduction of a retirement age of 65 | |||
Turnover rate within | Ratio of | |||
three years of hire |
Human resource strategy in the Medium-Term Management Plan and four activity axes
Enhancement of recruiting strength and diversication of work styles
- Promotion of D&I*1 recruitment and diversication of recruiting methods
- Promotion of remote working (promotion of telework)
- Introduction of hourly leave system
- Introduction of a retirement age of 65
Medium-Term Management Plan | ||||
Attract | human resources strategy | |||
- Draw in - | Working style | |||
reforms | ||||
Realization of operational | ||||
reform through promotion | ||||
of DX | ||||
Output | Creation of organizational results | ||||
- Manifest results - | |||||
■ Promotion of job crafting*2 | |||||
Four axes of activity | ■ Evaluation system based on human | ||||
and correlated | resources development | ||||
measures | ■ Expansion of opportunities for | ||||
improvement suggestions and project | |||||
Utilization of | proposals | ||||
human resources | |||||
Improving the working | |||||
environment and securing | |||||
diverse human resources | |||||
Strengthening | Develop | ||||
human capital | |||||
Human resources | - Nurture - | ||||
Demonstrate initiative through | |||||
development | |||||
motivation and achievement | Expansion of | ||||
(engagement) | 育成施策の拡充 | ||||
development measures | |||||
[Targets to be achieved by FY2030]
Ratio of female managers:
10% or more
for new graduates | mid-career hires | Sustainability | ||
(FY2022) | ||||
(FY2022) | ||||
25.4% | ||||
5.2% | ||||
Progress towards the achievement goals set for FY2030 | ||||
We are making steady progress towards the goals for securing and developing human resources set for FY2030. In terms of se- | Corporate | |||
curing human resources, we have achieved our recruitment target of at least 40% for female employees in career-track positions, | ||||
thanks to the success of measures such as internships. We have also met our plans for both men and women regarding the rate | ||||
of acquiring childcare leave, which is one of our initiatives for promoting diversity. The ratio of female managers reached 6.3% in | ||||
FY2022 (up 1.3% from the previous year), and is on track to reach the target of 10% or more in FY2030. | Data | |||
Percentage of female new graduates hired for | Percentage of employees acquiring | |||
Ratio of female managers | childcare leave (Topy Industries, FY2022) | |||
career-track positions (Topy Industries, FY2022) | ||||
Male employees: 27% | ||||
(FY2022) | ||||
53.8% | ||||
6.3 | ||||
Implementation of evaluations and pay raises in | Fostering a mindset for development | |
a balanced manner | ■ Expansion of managerial staff education | |
■ Review of personnel treatment system (personnel | ■ Support for relearning (reskilling) | |
evaluation, grading system, promotion system, etc.) | Reward | ■ Introduction of training to promote |
■ Expansion of various awards | - Compensate - | innovation |
*1 Diversity and inclusion
*2 Method for enhancing job satisfaction and fulllment by making creative adjustments to one's way of working
17 TOPY Report 2023
% | Plan period: April 1, | Female employees: 100% |
(Target for FY2030: | ||
2021 to March 31, 2026 | Plan period: July 1, 2020 to March 31, 2025 | |
at least 10%) | ||
Target: at least 40% | Male employees: acquisition rate of at least 7% | |
Female employees: acquisition rate of at least 75% |
TOPY Report 2023 | 18 |
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TOPY Industries Ltd. published this content on 25 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 December 2023 22:43:43 UTC.