CSR activities in FY2023
ESG Management
NTN’s Future Vision
Toward Realization of a “NAMERAKA Society＊”
In December 2019, we established a Management Policy of the NTN Group. This represents the NTN Group’s management philosophy and stance, and is based on the Founders’ Spirit consisting of the “Frontier Spirit” and “Coexistence and Co-prosperity Spirit” and on our corporate philosophy that incorporates these spirits. In addition, the NTN Group has clearly stated its stance towards all stakeholders involved in the NTN Group. By steadily implementing initiatives based on the above, we aim to realize a “NAMERAKA Society.＊”
Management Policy
NTN Group aims to realize a “NAMERAKA Society＊” through practicing its corporate philosophy.
As a company that is trusted and needed by communities including stakeholders, we engage in business activities with an emphasis on respect of human rights and compliance.
＊ NAMERAKA Society : A society where people can easily lead a secure and fulfilling life in harmony with nature.
Our Vision
- A company where its corporate philosophy is understood by all employees around the world, and where all employees think and act by themselves
- A company that has a global presence with original new products and services appreciated for high quality and functions
- A company which everyone involved can be proud of the “NTN” brand
Toward Realization of a “NAMERAKA Society”
Basic Approach to Sustainability
The NTN Group has established the Management Policy of realizing a “NAMERAKA Society.” To achieve this vision, we have identified (1) and (2) below as sustainability activities that the Group, its officers, and employees will practice, and are promoting these efforts.
(1) Activities that create environmental and social value as a company that confronts social issues and is trusted and needed by communities
(2) Activities that enhance corporate value through the provision of products and services that reduce friction to minimize energy consumption, leading to the sustainable growth of the NTN Group
The NTN Group has established the Sustainability Committee chaired by the Executive Officer in charge of the ESG Promotion Department (Chief Management Officer of Sustainability Activities). The Committee serves as a body that deliberates the sustainability activities required for identifying and resolving issues with a view to realizing a “NAMERAKA Society,” and it reports regularly to the Board of Directors on the details of its meetings.
■Overview of sustainability activities
■Structure
Roadmap for realizing a “NAMERAKA Society”
In December 2021, we formulated a roadmap for realizing a “NAMERAKA Society” as an overview of our management to ensure that our Group continues to grow as a company that contributes to society. The roadmap shows the Group’s approach to materiality, envisioning the period from the 2020s to the 2050s.
■Roadmap for realizing a “NAMERAKA Society”
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Promotion of ESG management
The roadmap for realizing a “NAMERAKA Society” consists of “contribution to solving social issues toward the future we aim for” and “foundation to support ESG management,” which forms the base for its activities. The roadmap represents related materiality and specific measures based on the seven ESG issues of “realize carbon neutrality,” “contribute to carbon-free society,” “contribute to prosperous lives,” “environmental protection,” “sustainable supply chain,” “prosperous human development” and “governance.” We have defined the measures that must be taken by combining the perspective of forecast, which identifies the anticipated future as an extension of conventional business activities, with the perspective of backcast, which considers what needs to be done and at what point in time by working backward from the targeted future.
We will promote ESG management along the roadmap to achieve sustainable growth, creating environmental and social value. We aim to realize a “NAMERAKA Society.”
Contribution to solving social issues toward the future we aim for
Reduce CO2 emissions in business activities
In “realize carbon neutrality,” we have set “Achieve carbon neutrality by the fiscal year 2035 (by the fiscal year 2050 for the entire supply chain)” as the target, and are working to reduce CO2 emissions in our business activities. We are accelerating our efforts toward carbon neutrality by mainly implementing the following measures.
(1) Confirmation of power usage status and systematic reduction of CO2 emissions by visualizing power consumption in the product manufacturing process
(2) Introduction of solar and wind power generation facilities at business sites and the promotion of purchasing renewable energy power
(3) Utilization of internal carbon pricing
Contribution to society by providing products and services
In “contribute to carbon-free society,” we will contribute to the spread and stable operation of wind power generation equipment by providing bearings that support the increase in size of wind power generation equipment and providing condition monitoring services that utilize IoT. In addition, as a response to the electrification and EVs shift in the automobile industry, we are promoting higher efficiency, smaller size and lighter weight of core products, and developing multifunctional module products that utilize core technologies.
In “contribute to prosperous lives,” we will propose solutions such as robot-related modules to meet the growing demand for labor saving due to the declining working population. In addition, to prepare for frequent natural disasters, we will contribute to disaster mitigation and disaster prevention by providing independent power supplies and others.
Foundation to support ESG management
Environment
We are striving for “environmental protection” by promoting efforts in resource recycling and pollution prevention as part of our business activities.
Social
We will strive to improve the reliability of our products and services, promote CSR procurement, and aim to realize a “sustainable supply chain.” In addition, we believe that it is important for business operations to protect the safety of employees who support the business and improve the quality of human resources. Based on this thought, we are working to achieve “prosperous human development” by promoting safety and health, and fostering a culture of learning and development in the workplace.
Governance
As a company that is trusted and needed by society, we engage in business activities with an emphasis on compliance. We also strive to increase corporate value over the medium to long term through management that emphasizes transparency and fairness.
NTN PROUD AWARD
In conjunction with the 100th anniversary of NTN’s founding, the NTN PROUD AWARD was established to commend all employees across the Group’s global sites on their practice of the corporate philosophy. Although the award ceremony has not been held since 2019 due to the impact of the COVID-19 pandemic, the NTN PROUD AWARD was relaunched in FY2023 as an internal award system to recognize sustainability activities undertaken by employees toward the realization of a “NAMERAKA Society.”
Under this system, teams that are engaged in activities that link daily operations with the Company’s materiality submit entries, and two outstanding projects are first selected from among entries from six regions worldwide (Americas, Europe, China, ASEAN, India, and Japan) for the Excellent Award and Special Award. These winning teams are then entered into a global competition in which they give presentations to vie for the President’s Award. The team that wins the President’s Award is invited to the Global Management Conference, which brings together senior executives from around the world.
Through this system, NTN aims to enhance understanding and awareness of sustainability activities among employees, as well as to foster motivation and engagement, and by doing so, contribute to enhancing NTN’s social value and resolving social issues with the aim of realizing a “NAMERAKA Society.”
For improvement of corporate value
Nowadays, companies have been required to not only achieve corporate performance (economic value), but also to be an entity that is needed by society (social value). Corporate growth cannot be expected without being required by society. For NTN to continue to be a company recognized by society, we need to face social issues and aim to achieve a sustainable society through the practice of our corporate philosophy.
In 2018, we established the corporate philosophy code of conduct, “NTN SPIRIT,” to spread the philosophy thoroughly. “NTN SPIRIT” stipulates credos and actions expected for every employee to pursue. In NTN, “spread” is divided into three steps of “recognition,” “empathy and understanding,” and “practice,” to promote initiatives that will lead to practice.