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Approach to Social contribution

Approach

The IHI Group uses its technological capabilities and human resources to help create a rich and livable earth, and engages in social contribution activities that increase the Group’s value.
In line with the medium-term management plan Group Management Policies 2023, which started in fiscal 2023, the Group has established a three-year policy for social contribution activities (from fiscal 2023 to fiscal 2025). Under this policy, based on the actual state of its business operations and past social contribution activities, the Group will focus on two priority areas of social contribution activities: coexistence with local communities and development of next-generation professionals.

Priority Areas of Social Contribution Activities

Priority Areas Relevance to Business SDGs
Coexistence with Local Communities Establishing and maintaining good relationships with local communities is essential for smooth business expansion.
Development of Next-generation Professionals Conducting activities that support STEAM education, etc., and supporting future research in science and technology fields will enrich the foundations of future industry and is essential for improving understanding of the products handled by the IHI Group, and expanding our business.

Strategy

Risks

If there is insufficient dialogue with local communities, the IHI Group’s business activities may have a negative impact on the local natural environment and livelihoods. As a result, relationships with local communities may deteriorate, which may impede the continuation of existing businesses or the launch of new businesses. Additionally, if good relationships with local communities are impaired, the Group’s public reputation may decline, potentially affecting its corporate value.

Opportunities

Establishing and maintaining good relationships with local communities is essential for smooth business expansion. In particular, collaboration between industry, academia, and government to address regional issues such as the development of next-generation professionals will enrich the future industrial base and improve the efficiency of internal and external networks. The IHI Group feels that this will also help with business continuity and growth.

Metrics and Targets

In fiscal 2023, the IHI Group invested a total of ¥532 million into activities concerning social contribution.
As the infection classification of COVID-19 was lowered to category 5 in Japan, activities such as “coexistence with local communities” and “developing next-generation professionals,” which are priority areas of social contribution activities, have resumed. The Group was able to carry out a variety of unique activities at its offices. As a result, social contribution activity expenses increased by ¥43 million compared to fiscal 2022.

Breakdown of Social Contribution Activity Expenses

(Unit: Millions of yen, Scope: IHI and consolidated subsidiaries)

Item FY2021 FY2022 FY2023
Breakdown by activity content Coexistence with local communities 103 335 312
Development of next-generation professionals 111 121 185
Conservation of the global environment* 21 31
Others 25 2 35
Breakdown by expenditure Cash investment 120 251 244
Time investment 87 94 184
Goods donations and site costs 53 144 104
Reference Membership fees for local organization 13 15 23
Operating costs 110 106 97

Since FY2023, our focus has been changed to two areas: “Coexistence with local communities” and “Development of next-generation professionals,” so figures for “Conservation of the global environment” will no longer aggregated from FY2023 onwards.

Activity Results

(Scope: IHI and consolidated subsidiaries)

Priority Area Index FY2021 FY2022 FY2023
Coexistence with local communities Business interests*2 Visitors to events 645 1,535 18,803
Social/environmental interests*2 Investments to local communities 103 million JPY 335 million JPY 312 million JPY
Development of next-generation professionals Business interests*2 Number of participants in school visits, manufacturing classes, etc. 5,297 7,468*3 7,593
Social/environmental interests*2
Conservation of the global environment*1 Business interests*2 Participants in hosted events 254 156
Social/environmental interests*2 Environment protection area 12,652㎡ 112㎡
  1. Since FY2023, our focus has been changed to two areas: “Coexistence with local communities” and “Development of next-generation professionals,” so figures for “Conservation of the global environment” will no longer aggregated from FY2023 onwards.
  2. The indicators above for business and social/environmental interests defined by RobecoSAM are as follows.
    Business interests: Factors directly related to product development, brand improvement, human resource development, and other such business interests.
    Social/environmental interests: Factors linked to SDGs and other social/environmental interests.
  3. The number of participants in school visits, manufacturing classes, etc. in FY2022 has been revised.

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