Stakeholder engagement
Basic approach
The Idemitsu Group continues to take on the challenge of creating value together with its stakeholders.
We organize the stakeholders we engage with based on the impact we have on them and the impact we receive from them from the environmental, social, and economic aspects. We also consider the interests of each stakeholder and the degree of impact on the future, including risks, and engage in engagement activities.
●Stakeholders surrounding our company
Policy
Multi-stakeholder policy
In corporate management, we recognize the importance of co-creating value with a variety of stakeholders, including not only shareholders but also employees, dealers, business partners, partner companies, creditors, and local communities. Based on this, we will work on appropriate collaboration with multi-stakeholders. Based on this, from the perspective that appropriately distributing profits and results generated through value collaboration and productivity improvement to multiple stakeholders will lead to maintaining the momentum of wage increases and sustainable economic development. Based on the importance of giving back to our employees and being considerate to our business partners, we will proceed with the following initiatives.
1. Return to employees
Since our founding, our company has advocated ''people are our capital'' and ''People-Centered Management.'' With human resources strategy at the core of our management strategy, and the growth of our people as our management objective, we aim to achieve sustainable growth by focusing our management Resources on growth areas, developing the capabilities of our employees, and improving their skills. We will work to improve productivity and focus on business structure reforms and maximizing added value to realize a carbon-neutral, recycling-oriented society. Based on the profits and results generated, wages will be increased in an appropriate manner based on the company's situation, in accordance with the "Basic Principles of Wage Determination," and other comprehensive treatment improvements will also be made. We aim to provide sustainable returns to our employees by proactively focusing on human capital investment, which will contribute to improving employee engagement and further improving productivity.
(Individual items)
Our company will work diligently to raise wages, taking into consideration the social situation and business environment. Regarding investments in human capital, based on the human capital strategy in Medium-term Management Plan (2023-2025) announced in 2022, we have set KPIs for employee engagement, D&I, and education investment per employee. We will work on the growth of organizations and people, with the key themes of ''sympathizing with Management Philosophy and vision,'' ''deepening D&I,'' and ''exercising abilities and individuality.'' Specifically, these include roundtable discussions to spread Management Philosophy, townhall meeting meetings to share management information, unconventional dialogue and inclusion training to incorporate different values, and other ways to expand perspectives and viewpoints. We will develop a wide range of measures, including creating opportunities for matches, cross-border learning, and dispatching students to tough assignments to develop next-generation management personnel.
2. Consideration for business partners
Our company will continue to strive to comply with the contents of the Partnership Building Declaration.
・Registration date of partnership building declaration
June 7, 2022
・URL of partnership building declaration (Japanese only)
Regarding these items, we will steadily move forward with efforts while confirming the status of our efforts.
That's all
April 19, 2023
Idemitsu Kosan Co., Ltd.
Representative Director and President
Shunichi Kito
Governance
Strategy
Our group believes that highly transparent information disclosure to stakeholders leads to building relationships of trust and creating value. At the same time, our group strives to ensure compliance, safety and quality control, and when a problem occurs, we provide timely and appropriate information, including negative information, through information disclosure on our website, news releases, etc. We will continue to disclose.
Through responsible dialogue with diverse stakeholders, we will increase corporate value and contribute to social development.
Initiatives
Dialogue with stakeholders
| Stakeholders | Initiatives | Overview of initiatives |
|---|---|---|
| All | Information dissemination via website | In order to disseminate the latest information about our group in a timely manner, we have established an official website to disseminate information. We have set up various contact points on our website and are working to actively communicate with you. |
| Public relations activities through advertisements and promotions | We are continually engaged in advertising and promotional activities to deepen understanding of our group's business and other initiatives. |
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| Public relations magazine | In order to communicate our business and initiatives, we produce a quarterly public relations magazine four times a year, publish a digital book on our website, and create a booklet version. The booklet version is distributed to domestic and overseas business partners, dealers, related parties in areas surrounding domestic bases, and members of Koyukai and Social Friendship Associations. |
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| Shareholders/Investors | Dissemination of information for individual investors | We participate in IR events for individual investors, where the director in charge of IR, general manager of accounting and finance, and others explain business overview, management strategy, and business status. We have launched "Idemitsu Connect," a website exclusively for our shareholders, and are strengthening two-way communication with them by providing content and events for them. Idemitsu Connect |
| Information dissemination for analysts and institutional investors | In addition to quarterly financial results briefings, we also hold individual IR meetings and small meetings with analysts. Our management team visits institutional investors in Europe, America, and Asia to explain management strategies and business conditions. |
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| Customers (individuals/consumers) | Setting up a customer center | We respond to a wide range of inquiries, from inquiries about various products such as Petroleum and lubricating oil to questions about our company and business. We also handle inquiries regarding SS-related services, staff customer service, and tanker trucks. In particular, we work with the relevant departments and offices to promptly and appropriately respond to complaints and complaints, and to make necessary improvements. In the event of concerns or reports regarding other business activities, we promptly coordinate with the relevant department and office and respond appropriately. |
| Public relations activities through advertisements and promotions | We are continually engaged in advertising and promotional activities to deepen understanding of our group's business and other initiatives. |
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| Customers (corporations/ customer) | Holding customer seminars | Through communication with our corporate customers, we are proposing and developing products that meet their needs. In addition, at our branches across the country, we hold seminars for customer to provide information useful for their businesses, such as technological trends such as energy saving and environmental technology, and the status of laws and regulations. |
| Partner companies | Collaboration with partners | We work together with our partner companies to create value. By having common goals, policies, and guidelines, we strive for mutual sustainable development. |
| NPOs, NGOs, research institutions | Participation in initiatives etc. | We join and collaborate with various initiatives to collect information and collaborate to help solve social issues. |
| Country/local community | Holding regional information sessions | We hold briefing sessions at least once a year, inviting local representatives such as neighborhood chairs of Refineries/Complexes, and factories. In addition to explaining the status of our safety and environmental initiatives, we also receive feedback from everyone. |
| Implementation of environmental education | We hold classes primarily for elementary school students living near Refineries/Complexes and factories to help them deepen their understanding of climate change issues such as global warming. |
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| Implementation of environmental conservation activities | We participate in cleanup activities near our Refineries/Complexes, and factories, as well as local forest and coastal conservation activities, which not only contribute to the local community but also encourage interaction between employees. |
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| Employee | Next Forum | This meeting is held twice a year as a place for employees and management to directly engage in dialogue, exchange opinions, and make proposals regarding company-wide issues, with the aim of becoming a better company. Forum members selected from each department and office deliver the voices of the workplace and communicate directly with management. |
| Holding townhall meeting and various “dialogue meetings with executives” | We have been conducting this event since fiscal 2020 as a place for direct communication between management and employees. Management shares information with all employees on various management issues, and also engages in direct dialogue with all employees. Additionally, starting from November 2021, we have been holding quarterly mini townhall meeting to explain our financial results. In addition, we hold various "dialogue meetings with executives." |
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| Implementation of “rewarding” survey questionnaire | We conduct this survey once a year in order to quantitatively and continuously analyze employees' ''rewarding work, mutual trust, and sense of unity'' and to take action. A total of 11,522 people (response rate 96.1%) from our company and domestic and overseas group companies responded to the 2023 survey from late July to early August. |
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| Information dissemination through group newsletters, internal signage, internal portal sites, etc. | Group newsletters (published on the internal portal site) include a reader comment function to facilitate two-way communication. In addition, our in-house signage disseminates various information such as our business information, compliance, health management, and employee survey results. |
Customer center initiatives
At our "Idemitsu Customer Center," we place great importance on "customer feedback."
At our center, we not only respond to customer inquiries, but also strive to provide "plus" guidance in order to make customers feel glad that they called.
In addition, in order to sincerely listen to customer feedback, we regularly undergo response training and strive to improve quality.
●Number of customer center receptions (FY2022) Unit: cases
| Total number of receptions |
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|---|---|
| Inquiry |
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| Complaints complaints |
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| Suggestion |
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| Compliment |
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| Others |
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