Materiality targets and results
The Group’s approach to addressing material issues involves setting targets premised on the importance we ascribe to appropriately managing material issues using the PDCA cyclical process.
We have set short- to medium-term targets effective from 2021 and review results, progress, and self-evaluation each fiscal year.
Priority Topic 1 Contributing to solutions to environmental issues
"Contributing to solutions to environmental issues" refers to "reduction of global greenhouse gas emissions through environmentally friendly products" leveraging INTEGRATION and the ultra-precision machining technology that is our biggest strength. We are working on this as a company, "minimizing the environmental impact of business activities."
Material issues
❶ Reduction of global CO₂ emissions through environmentally friendly products
Medium-term targets | Fiscal year | Short-term targets | Results | Progress status |
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Volume of CO2 emission reduction by products: Approx. 4.0 million tons (by the fiscal year ending March 2031) | FY2024 | Promote CO2 emission reduction by products, aiming for approximately 4.0 million tons by the fiscal year ending March 2031 | — | — |
FY2023 | Maintain the volume of avoided CO2 emissions from products to 2.67 million tons | × | Contribution to CO2 emission reduction through products: 2.09 million tons | |
FY2022 | Maintain the volume of avoided CO2 emissions from products to 2.3 million tons | ○ | Products Contributed to CO2 emissions reductions by 2.67 million tons | |
FY2021 | Contribute to reducing CO2 emissions from products toward 2.3 million tons in the fiscal year ending March, 2031 | ○ | Contribution to CO2 emission reductions by products in the fiscal year ending March, 2022: 2.49 million tons | |
Percentage of net sales attributable to Green Products: 90% or more (by the fiscal year ending March 2029) | FY2024 | Percentage of net sales attributable to Green Products: 90% or more | — | — |
FY2023 | Maintain the net sales attributable to Green Products to 90% or more | ○ | Green Products sales ratio was 90.0% of total sales | |
FY2022 | Maintain the net sales attributable to Green Products to 90% or more | × | Green Products sales ratio 89.6% of total sales | |
FY2021 | To achieve 90% in the fiscal year ending March, 2029, improve the ratio of green products sales | ○ | Green Products sales ratio 91.1% of total sales |
❷ Minimizing the environmental impact of business activities
Medium-term targets | Fiscal year | Short-term targets | Results | Progress status |
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10% reduction of our own greenhouse gas emissions per unit sales compared to the fiscal year ended March 2020 (by the fiscal year ending March 2026) | FY2024 | Promote our own greenhouse gas emissions with the aim of 10% reduction of our own greenhouse gas emissions per unit sales compared to the fiscal year ended March 2020 (by the fiscal year ending March 2026) | — | — |
FY2023 | Reduce our own greenhouse gas emissions, aiming 10% reduction compared to the fiscal year ended March 31, 2020 on a per-unit basis for sales in the fiscal year ending March, 2026 | ○ |
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FY2022 | Reduce our own greenhouse gas emissions, aiming 10% reduction compared to the fiscal year ended March 31, 2020 on a per-unit basis for sales in the fiscal year ending March, 2026 | ○ | Reduced our own greenhouse gas emissions by 16.3% per unit of production in the fiscal year ending March, 2020 as the base year | |
FY2021 | Reduce our own greenhouse gas emissions, aiming 10% reduction compared to the fiscal year ended March 31, 2020 on a per-unit basis for sales in the fiscal year ending March, 2026 | × | Increase our own greenhouse gas emissions by 0.2% per unit of production in the fiscal year ending March, 2020 as the base year | |
42% reduction of total greenhouse gas emissions compared to the fiscal year ended March 2023 (fiscal year ending March 2031) | FY2024 | Promote the reduction of our own greenhouse gas emissions with the aim of reducing the total amount by 42% in the fiscal year ending March 2031 compared to the fiscal year ended March 2023 | — | — |
FY2023 | Reduce our own greenhouse gas emissions: aiming 30% reduction by the fiscal year ending March 2031, compared to the fiscal year ended March 2021 | ○ |
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FY2022 | Reduce our own greenhouse gas emissions: aiming 30% reduction by the fiscal year ending March 2031, compared to the fiscal year ended March 2021 | ○ | Scope 1 and 2 greenhouse gas emissions in the fiscal year ended March 2023: 880,000 tons-CO2 (down 4% year-on-year) | |
FY2021 | Reduce our own greenhouse gas emissions: aiming 30% reduction by the fiscal year ending March 2031, compared to the fiscal year ended March 2021 | × | Our own greenhouse gas emissions increased by 9.3% with the fiscal year ending March 31, 2021 as the base year | |
Integrate climate-related risks into the company-wide risk management system | FY2024 | Create a migration plan | — | — |
FY2023 | Enhance scenario analysis and quantitatively disclose information | ○ | Continued information disclosure | |
FY2022 | Prepare for the disclosure of quantitative information based on TCFD's recommendations for the disclosure of climate related-information | ○ | Disclosure of governance and risk management, strategy, metrics and goals, as well as scenario analysis | |
FY2021 | Disclose and disseminate information in accordance with the TCFD's recommendations | ○ | Disclose governance, risk management, strategies, metrics and goals |
Priority Topic 2 Creating the high quality precision products that support society
"To create the high quality ultra-precision products that support society," thereby contributing to the environment, we work to "strengthen the mass and stable supply system for ultra-precision components" and "practice responsible procurement" while also promoting "coexistence with local communities" at manufacturing and other business sites by job creation and collaboration with local residents.
Material issues
❸ Strengthening the mass and stable supply system for ultra-precision components
Medium-term targets | Fiscal year | Short-term targets | Results | Progress status |
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Development of mass production system for ultra-high-performance bearings and other products through substantial improvement in precision | FY2024 | Aim to increase orders by proposing bearings (super bearings) with significantly improved accuracy compared to conventional products for a wide range of applications, and provide value such as improved environmental performance and functionality. | — | — |
FY2023 | Started sales of Super Bearings, which began mass production, aiming for profitability | △ | Developed mass production system for bearings with significantly improved precision compared to conventional one (super bearings) | |
FY2022 | Prove the effectiveness of precision bearings that are three times more accurate than conventional bearings and complete the product evaluation | ○ | Establishment of processing technology with triple accuracy, commercialization as super bearing, and mass production started | |
FY2021 | Build mass production system for ultra-high-performance ball bearings by significantly improving precision accuracy | △ | The company has established a processing technology that triples the precision of the product and is on track to commercialize it | |
Strengthen product safety management system to be capable of supporting products in new fields increased by business expansion | FY2024 | Expanding a wide range of education from operators to managers and standardization of technology evaluation process and deployment to all business units. | — | — |
FY2023 | Expansion of audits and training to support acquisition of new standards including VDA6.3 and IATF16949 etc. | ○ | 3 business units and 7 factories are continuing activities to obtain new standards. Continue implementation in 2024 | |
Strengthen audits and monitoring to enhance design reviews | ○ | A common technology evaluation process was created and completed preparations for standardization. | ||
Plans to establish a permanent learning center for quality managers to learn about practical quality | △ | Introduced to one factory as a trial. Developed to level-based training | ||
FY2022 | Enhance the education of quality trainers and persons responsible for product safety management | ○ |
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FY2021 | Creating systems to improve employee skills | ○ |
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FY2024 | Improving the loading efficiency of marine containers | — | — |
Expanding employee training to overseas locations such as Europe, the Americas, and Greater China to strengthen trade compliance | — | — | ||
FY2023 | Improving the loading efficiency of marine containers | ○ | Increased loading efficiency Results as of March 2024: Group average 62% Significant improvement compared to 55% in the previous fiscal year ended March 2023 |
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Plans to expand employee training to overseas locations to strengthen trade compliance | ○ | Carried out education at each overseas base in Asia (Southeast Asian countries, South Korea, India) |
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FY2022 | Expand the use of unified barcode labels with MITSUMI products (coil products, etc.) | ○ | Unified bar code labels deployed throughout the MITSUMI products (connector products) | |
FY2021 | Expand the use of unified bar code labels with MITSUMI products | ○ | Unified barcode operation was expanded to include compatible models with in-vehicle antennas The Precision Components Division (connector products) is also preparing to introduce the system |
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FY2024 | Continuing from FY2023, risk survey to be conducted at 6 to 7 domestic bases [Schedule]
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Based on the trial results, we will continue investigation and make course corrections toward full implementation for the entire Group and discuss the implementation method suitable for our company at the Risk Management Committee during this fiscal year, and make proposals to management | — | — | ||
FY2023 | Continuing from FY2022, risk survey to be conducted at 6 domestic bases [Schedule]
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○ | Conducted at 4 locations in the first half and 3 locations in the second half (Azumino, Miyazaki, Hirose, Noshiro, Akita, Fujisawa, Tama) |
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Based on investor requests and the Governance Code, etc., we will consider the implementation of risk assessments by the entire Group, discuss the implementation method at the Risk Management Committee during the current fiscal year, and make proposals to management. | ○ | Proposed the risk assessment implementation method to the Risk Management Committee and management and also conducted a trial. | ||
FY2022 | Conduct risk surveys at domestic sites and quantify the disaster risk at all sites | ○ | Conducted surveys at the following six locations a) MinebeaMitsumi Tokyo X Tech Garden b) Mitsumi Electric Chitose Business Division c) Mitsumi Electric Yamagata Business Division d) Mitsumi Electric Kyushu Business Division e) MMI SEMICONDUCTOR (Shiga) f) Minebea Connect (Sendai) Sharing survey results and best practices with all sites |
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Respond to climate change-related floods and other water-related risks Develop disaster prevention manuals and BCPs for sites at high risk of river flooding |
○ | According to the Aqueduct Map (a world map of global water risks released by the World Resources Institute (WRI), 25 sites with high water risks such as floods were surveyed, and U-Shin Zhongshan (China) was found to have the highest relative risk. With U-Shin Zhongshan as the top priority, consultations were held with on-site team and countermeasures were taken | ||
FY2021 | Conduct a risk survey at domestic bases and quantify the risk of disasters at all sites | ○ | Implemented at 8 locations within the MinebeaMitsumi Group | |
Enhance training to minimize damage in the event of fire | ○ | Conducted fire drills and safety confirmation drills at each location in conjunction with "Spring and Fall Fire Prevention Weeks" | ||
Formulation of the emergency response manual for responding in the event of large-scale disasters (domestic bases) | ○ | The "Emergency Response Headquarters Manual" for the Tokyo Headquarters for earthquakes, etc., directly under the Tokyo metropolitan area was formulated The manual stipulates the establishment, operation, and organizational structure of the Emergency Headquarters, with the aim of preventing the spread of damage and bringing it under control as soon as possible |
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FY2024 | Implementation of a job-rank based compliance training | — | — |
Implementation of compliance training for all employees | — | — | ||
Strengthening the system for collecting compliance information globally | — | — | ||
FY2023 | Implementation of a job-rank based compliance training | ○ | Compliance training was also conducted during new graduate employee training, mid-career new employee training, leader development training, new assistant manager training, and new manager training (total of 1,010 participants, 100% participation rate) | |
Implementation of compliance training for board of directors | ○ | Conducted including group company executives (122 participants, 100% participation rate) | ||
Strengthening the system for collecting compliance information globally | ○ | Appointed Compliance Officer/Staff at Minebea Power Semiconductor Device Inc. which was scheduled to newly join our Group | ||
FY2022 | Strengthening the system for collecting compliance information globally | ○ | Appointed regular compliance officers at newly joined the Group of Honda Tsushin Kogyo, Minebea Connect, and Minebea Access Solutions | |
Implement rank-based compliance training | ○ | Compliance training was provided when new graduate new employee training, mid-career entry training, leader development training, new assistant manager training, and new section manager training were conducted (total of 775 employees, participation rate: 100%) | ||
Implement compliance training considering the results of the employee awareness survey | ○ | Conducted video viewing training for all employees, include Group company (10,796 employees in total, participation rate: 80.45%) |
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FY2021 | Establish a global internal whistleblowing contact point | × | Reexamine the compliance with the personal information protection laws of each country, etc., as it requires close scrutiny | |
Implementation of a job-rank based compliance training: 100% enrollment | ○ | Compliance training was conducted as part of rank-based training. (23 sessions, 795 participants, 100% participation rate) | ||
Conduct employee awareness surveys | ○ | A compliance employee awareness survey was conducted among employees working for all group companies in Japan and expatriates |
❹ Practicing responsible procurement
Medium-term targets | Fiscal year | Short-term targets | Results | Progress status |
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Enhancement of CSR procurement guidelines considering environmental and human rights issues (introduction of RBA standards in guidelines and implementation of self-audits based on them) |
FY2024 | Confirm the current status of CSR promotion with the "CSR Procurement Promotion Self-Check Sheet" for suppliers of our group company | — | — |
Targets are set for SBT certification. Continue to conduct a questionnaire for suppliers every year | — | — | ||
FY2023 | Confirm the current status of CSR promotion with the "CSR Procurement Promotion Self-Check Sheet" for suppliers of our group company | ○ | Confirmed the status of 567 companies in 11 locations, mainly related to the merged companies | |
Plans to conduct a questionnaire on greenhouse gas emissions for suppliers in preparation for SBT certification | ○ | Survey conducted for 249 companies | ||
FY2022 | Check the status of CSR promotion with the "CSR Procurement Promotion Self-Check Sheet" for suppliers in U-Shin China | ○ |
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Investigate the RBA standard implementation status of other companies and identify issues to promote and adopt the RBA standard to the guideline | ○ |
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FY2021 | Confirm the current state of CSR procurement at U-Shin and disseminate it to our business partners based on the "CSR Procurement Guidelines". For Japanese business partners, check the status of CSR progression using the "CSR Procurement Self-assessment Checklist" | ○ |
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❺ Coexistence with local communities
Medium-term targets | Fiscal year | Short-term targets | Results | Progress status |
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Continuing communication with local communities | FY2024 | Promote activities in each region and fully fulfill our role as a member of the local community | — | — |
FY2023 | Resume communication with the local communities of domestic and international bases as soon as the relaxation of infectious diseases situation | ○ | Actively increased our participation in line with the resumption of activities in local communities in each country. | |
FY2022 | Resume communication with the local communities of domestic and international bases as soon as the relaxation of infectious diseases situation | × | As the pandemic did not subside, dialogue with the community was postponed | |
FY2021 | As soon as the situation of infectious disease settles, resume the promotion of dialogue with local governments in Japan and overseas | × | The infectious disease is not under control, and the impact of the outbreak is forcing the company to suspend dialogue with the community | |
By promoting information disclosure and two-way communications, we aim to further gain understanding and trust from stakeholders and increase our corporate value in the medium to long term | FY2024 | To further enhance communication with each stakeholder, we will utilize both real and online channels depending on the purpose, including not only financial results briefings, but also IR Day and domestic factory tours | — | — |
FY2023 | To further enhance communication with each stakeholder, we will utilize both real and online channels depending on the purpose | ○ | Held interim financial results briefings on site. Other briefing sessions were held online. Overseas factory tours were also held as usual. | |
FY2022 | Expand communication methods and make communication more effective in New Normal | ○ | In line with the new normal, we continued to use online meeting tools and resumed real communication to expand flexible information dissemination | |
FY2021 | Study and implement safe and efficient communication methods adopting to the new normal of With Covid and After Covid | ○ |
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Promote of communication with local communities using DX (Digital Transformation). | FY2024 | Carry out active public relations activities regarding the museum, disseminate information to all relevant parties, and actively accept social studies tours mainly from elementary school students. During the summer vacation period, we will hold workshops. Provide visitors with a deeper understanding of the parts exist in the world and our company. | — | — |
FY2023 | Completed design and construction of the new showroom (X TECH MUSEUM) and put it into use. | ○ |
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FY2022 | Design showrooms, etc., facilities in MinebeaMitsumi Tokyo X Tech Garden in preparation for facilitating effective communication with a community and committing to its development | ○ | Decided on a design company and started designing a new showroom | |
FY2021 | Open a showroom that can accept a wide range of visitors from the local community at the Karuizawa Plant Technology Center, as this is a year the company celebrates its 70th anniversary | ○ |
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Priority Topic 3 Maximizing the power of employees
The source of this value creation is our human resource management effort. Aiming to "maximize the power of employees," we seek to "enhance training by our human resources departments and promote diversity on a global scale" while working to "create a positive and rewarding work environment" for employees and promote "employee health and safety."
Material issues
❻ Global talent development
Medium-term targets | Fiscal year | Short-term targets | Results | Progress status |
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Strengthen talent development to actively promote expansion and development of business operations worldwide by leveraging benefits of the integration synergy of the MinebeaMitsumi Group | FY2024 |
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Invite next-generation leaders from overseas to Japan and continue to provide training | — | — | ||
FY2023 | Conduct employee engagement surveys | ○ |
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Based on the survey results, establish key indicators and KPIs for human capital management | ○ | Published the results of human capital performance indicators (KPIs) in the 2023 Integrated Report | ||
FY2022 | Strengthen training to nurture the next generation of executive leaders (Japan) | ○ |
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Invite the next generation of executive leaders from overseas to continue the training | ||||
Implement training for evaluators to enhance their skills for setting targets and providing feedback in the interview | ○ | Conducted training for evaluators to improve their skills in setting goals and conducting evaluation feedback interviews for 1,364 employees | ||
FY2021 | Continuous education for employees to promote corporate philosophy and team building activities and commendations | ○ |
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Continuous implementation of target management system and evaluation system to encourage challenges and appropriately evaluate contributions (Domestic Group) | ○ |
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❼ Global promotion of diversity
Medium-term targets | Fiscal year | Short-term targets | Results | Progress status |
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FY2024 | Aim to achieve a ratio of female managers: 3.7% or more (by the end of April 2025, non-consolidated) | — | — |
For new graduate recruitment in Japan, increase the ratio of women to 18.5% or more | — | — | ||
Increase the employment rate of people with disabilities to 2.6% or higher | — | — | ||
FY2023 | Ratio of female managers: 3.1% or more (by the end of April 2024) |
○ | Ratio of female managers: 3.5% (as of the end of April 2024) | |
Achieve recruiting target of at least 15% of women of new hires from Institute of technology colleges, universities, graduate schools | △ | Percentage of female employees hired with a technical college degree or higher: 13.7%. Percentage of women with all educational backgrounds combined, including junior college, technical college, and high school graduates: 15.9% (Actual recruitment of new graduates in FY2024) |
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Maintain recruiting target of 2.5% of people with disabilities, or achieve 2.6% or more | ○ | Employment rate of people with disabilities: 2.52% (as of June 2024) | ||
FY2022 | Continue implementing initiatives regarding the promotion of women's advancement | ○ |
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Retain "Eruboshi" Level 3 Certification | ||||
Achieve recruiting target of 15% or more of women of new hires from Institute of technology colleges | △ | Percentage of female employees hired with a technical college degree or higher: 13.4% Percentage of women with all educational backgrounds combined, including junior college, technical college, and high school graduates: 17.4% (Actual recruitment of new graduates in FY2023) |
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Maintain recruiting target of 2.5% of people with disabilities | ○ | 2.53% (as of the end of March 2022) | ||
FY2021 | Continuous promotion of women's participation | ○ |
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Hire 10 female science major graduates | ○ | Achieved 12 female hires in the sciences for new graduates joining the company in April 2022 | ||
Implementation of initiatives to expand employment opportunities for people with disabilities | ○ | Achieved 2.5%, exceeding the legally mandated employment rate of 2.3% |
❽ Creating a positive and rewarding work environment
Medium-term targets | Fiscal year | Short-term targets | Results | Progress status |
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Achieve diverse work styles that enable employees to work enthusiastically | FY2024 | Balancing work with childcare and nursing care to promote the creation of a comfortable working environment for employees:
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Annual paid leave acquisition rate of 75% or more (non-consolidated) | — | — | ||
FY2023 | Balancing work with childcare and nursing care to promote the creation of a comfortable working environment for employees:
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Annual paid leave acquisition rate of 75% or more (non-consolidated) | ○ | Annual paid leave acquisition rate 81.0% achieved | ||
FY2022 | Consideration and introduction of systems to realize diverse styles of work | ○ | Continue to hold internal network events to exchange ideas and information on balancing work and child-rearing in the Diversity and Inclusion Promotion Project | |
Annual paid leave acquisition rate of 75% or more | ○ | Annual paid leave acquisition rate 78.2% achieved (Non-consolidated) | ||
FY2021 | Consideration and introduction of systems to realize diverse styles of work | ○ | Implementation of staggered work hours and telecommuting in response to the Corona disaster | |
Annual paid leave acquisition rate of 80% or more | × | Annual leisure acquisition rate 74% |
❾ Employee health and safety
Medium-term targets | Fiscal year | Short-term targets | Results | Progress status |
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FY2023 | Zero incidents of severe workplace injuries (fatal accidents) | ○ | Work-related fatalities: zero | |
FY2022 | Zero incidents of serious workplace injuries (fatal accidents) | ○ | Work-related fatalities: zero | |
FY2021 | Zero incidents of serious workplace injuries (fatal accidents) | ○ | Work-related fatalities: zero | |
Maintain 100% regular health checkup participation rate and strengthen health management system | FY2024 | Promotion of health checkups: Regular health checkup participation rate 100% | — | — |
100% implementation rate of individual interviews for highly stressed employees | — | — | ||
FY2023 | 100% compliance with regular health checkups | ○ | Regular health checkup rate 100% achieved | |
100% compliance with stress checkup | ○ | Stress check implementation rate of 100% achieved | ||
FY2022 | 100% compliance with regular health checkups | ○ | Regular health checkup rate 100% achieved | |
100% compliance with stress checkups | ○ | Stress check implementation rate of 100% achieved | ||
FY2021 | 100% compliance with regular health checkups | ○ | Regular health checkup rate 100% achieved | |
100% compliance with stress checkups | ○ | Stress check implementation rate of 100% achieved |