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Sustainability

President Shinya Ogawa
President Shinya Ogawa

Our aim is to achieve sustainable growth together with society by incorporating climate change and other sustainability issues into our management.

The year 2020 marked our Group’s 90th anniversary. Thinking forward to our 100-year anniversary in 2030, as well as to the “tomorrow” that exists further beyond, we have set forth our PACIFIC GLOCAL VISION and are passionately promoting sustainability management in order to make important contributions to a society that is capable of enduring.

Manufacturing That Takes Environmental Changes into Account

The automobile industry is in the midst of a once-in-a-century major transformation, and the transition to a mobility society, including CASE and electrification, is accelerating. In the midst of this, and in light of growing needs for weight reduction and the progress in digital technology, we are working to strengthen our competitiveness by mobilizing the collective strength of our Group under the medium-term management plan OCEAN-22.

In response to the spread of COVID-19, in fiscal year 2020 we glocally implemented measures to prevent the infection of our employees, their families, and local communities while maintaining employment and supply chains, and built a production system tailored to fluctuations. At the same time, we thoroughly implemented profit improvement activities in the face of significant production cutbacks.

In the stamping business, we actively developed ultra-high tensile strength steel (UHTSS) and aluminum products that contribute to weight reduction, which is one of our strengths, and also expanded the scope of business into areas where needs are increasing in step with vehicle electrification, such as battery cases, functional parts such as those from forge presses, and plastic products that contribute to sound and vibration insulation.

In the valve business, together with Schrader we offer a wide variety of products, including tire valves, on which our company was founded, Tire Pressure Monitoring Systems (TPMS), car air conditioner valves, and valves for industrial use. We are also responding to the needs of society and our customers by developing new products using sensor technology and technology that can be applied to new refrigerants for car air conditioners as an environmental preservation measure.

Accelerating Sustainability Management with a Focus on Carbon Neutrality

In response to expanding sustainability issues, such as climate change and human rights issues, last year we identified our “material topics,” which are key issues for the Pacific Industrial Group to fulfill based on the Sustainable Development Goals (SDGs).

In order to effectively tackle these material topics, we organized and outlined each issue’s ideal state, major initiatives, and KPIs, and we will continue to listen to our stakeholders to understand social and environmental issues and integrate them into our management.

A particularly urgent issue is “mitigation of and adaptation to climate change.” In Pacific Environmental Challenge 2050, which we developed last year, we set long-term targets for decarbonization. However, following the government’s announcement in April of this year of a 46% reduction target for 2030, the Sixth Assessment Report of the Intergovernmental Panel on Climate Change (IPCC) released in August reported the accelerating impact of climate change, making further efforts essential. In light of this, we are strengthening our efforts to achieve carbon neutrality, setting a reduction target of 50% compared to fiscal 2019 by 2030. To achieve this target, in addition to the accumulation of daily improvement activities, we are accelerating our efforts, such as introducing carbon pricing into capital investment decisions through internal carbon pricing and actively introducing renewable energy.

From Policies and Targets to Implementation

Aside from climate change, in February we announced our Human Rights Policy, and have begun to implement human rights due diligence, including in supply chains. Furthermore, we believe that the health of our employees is a prerequisite for their success and, to promote health management, we announced our Health Declaration in September, and are developing a foundation for human rights and human resources initiatives.

In this way, we have spent the past year sharing our policies and targets with our employees and stakeholders on important sustainability issues for our company. By implementing these measures going forward, we will weave the warp of the Group's business into the woof of sustainability, aiming to achieve sustainable growth together with society. We would like to ask for your continued guidance and support.