External Evaluation

We describe the results of evaluations from various stakeholders regarding the GS Yuasa Group's CSR activities.

Inclusion in ESG Investment Constituents

ESG investment means an investment made by selecting companies who consider Environment, Social and Governance. Corporate value in terms of investment is evaluated based not only on financial information (a company's business performance and managerial conditions, etc.) but also non-financial information (a reduction in emissions of greenhouse gases, management of chemical substances, response to human rights issues, employees' work-life balance, compliance, and independence of outside directors, etc.).

MSCI Japan ESG Select Leaders Index

This index was developed by Morgan Stanley Capital International (MSCI). For the index, companies with high ESG evaluation in each category of business have been selected. This is the index adopted by the ESG investment managed by the Government Pension Investment Fund (GPIF), an entity managing pension reserve funds in Japan.

The Company has been selected for this index by acquiring “A” rating (seven investment ratings: AAA, AA, A, BBB, BB, B and CCC).

MSCI Japan Empowering Women Index(WIN)

This index was developed by Morgan Stanley Capital International (MSCI). For the index, companies with excellence gender diversity in each category of business have been selected. This is the index adopted by the ESG investment managed by the Government Pension Investment Fund (GPIF), an entity managing pension reserve funds in Japan.

FTSE4Good Index Series

The Company has been selected for inclusion in the ESG Investment Constituents, a major global index developed by the global index provider FTSE Russell. The FTSE4Good Index series is a series of stock market indices made up of corporations that satisfy global criteria for ESG management and performance.

FTSE Blossom Japan Index

The Company has been listed in the FTSE Blossom Japan Index, which is comprised of Japanese companies recognized for their outstanding ESG initiatives by the global index provider FTSE Russell. This index was adopted for ESG investment management by the Government Pension Investment Fund (GPIF), which manages and invests pension funds in Japan.

FTSE Blossom Japan Sector Relative Index

The Company has been included in the FTSE Blossom Japan Sector Relative Index, a stock index designed by global index provider FTSE Russell to indicate relatively performance in the various sectors of Japanese companies excelling in the area of ESG. This index has also been adopted for ESG investment management by the Government Pension Investment Fund (GPIF), which manages and invests pension funds in Japan.

S&P/JPX Carbon Efficient Index

The Company has been included in the S&P/JPX Carbon Efficient Index, a stock index jointly developed by the S&P Dow Jones Indices and the Tokyo Stock Exchange. This index consists of companies meeting certain criteria on disclosure of environmental information and carbon intensity (carbon emissions to revenues). The S&P/JPX Carbon Efficient Index is one of the indices used in the context of ESG investment operated by the Government Pension Investment Fund (GPIF), which manages and operates Japanese pension funds.

Nadeshiko Brand

The Company has been selected as a Nadeshiko Brand, a program run jointly by the Ministry of Economy, Trade and Industry and the Tokyo Stock Exchange. The Nadeshiko Brand program showcases Japanese listed companies noted for excelling in the area of women’s empowerment to investors who are specifically focused on greater medium and long-term corporate value. The goal is to promote investment in these companies and facilitate their initiatives.

CSR Rating

Toyo Keizai CSR Ranking

CSR survey conducted by Toyo Keizai Inc. with the aim to find "a company that is trusted by society."

The Company has acquired the following ratings for each initiative (five ratings: AAA, AA, A, B and C).

Utilization of human resourcesEnvironmentCorporate governanceSociability
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EcoVadis Business Sustainability Ratings

EcoVadis operates a joint platform to evaluate sustainability of suppliers, and evaluates suppliers based on CSR-related standards considering response to environmental issues, labor practices, respect for human rights, fair trade and Responsible Procurement.

The Company has received the "gold rank" certification level (Four ranks: Platinum, gold, silver and bronze).

Evaluation, Certification, Award, Etc. Regarding CSR Activities

DBJ Employees' Health Management Rated

Under the health management rating loan system conducted by the Development Bank of Japan Inc. (DBJ), companies that conduct excellent initiatives for their employees' health have been evaluated/selected, and the terms and conditions of loan are set up according to the evaluation.

The Company received the highest rank "particularly excellent in terms of initiatives for employees' health" in 2018.

"Company with Excellent Health Management 2022"

"Company with Excellent Health Management" means a system under which the Ministry of Economy, Trade and Industry (METI) and The Nippon Kenko Kaigi jointly confer companies that carry out particularly excellent health management, based on activities to deal with local health issues and initiatives for health improvement promoted by The Nippon Kenko Kaigi. The Company has been selected as a certified company of this system.

Platinum Kurumin

Platinum Kurumin is a certification program under which the Minister of Health, Labour and Welfare recognizes companies that offer high levels of childcare support. GS Yuasa was selected as a certified company under this program.

CDP

CDP is a London-based international non-profit organization that collects, analyzes, and publicly releases information on the environmental strategies of leading companies around the world in response to the needs of institutional investors. GS Yuasa is classified in the A- rank for climate change programs that require information disclosure on greenhouse gas emissions, risks and opportunities arising from climate change, and other topics (assessments are based on an eight-step scale: A, A-, B, B-, C, C-, D, D-).

Third-Party Assurance

Greenhouse gas emissions

The Company requested third-party verification in order to secure the credibility of our greenhouse gas emission data that is disclosed on the CSR web content, and received the results of verification, saying "there is no item indicating that it has not reported material points about the GS Yuasa Group's greenhouse gas emissions (Scopes 1 and 2) in FY 2021".

Statement on third-party verification by SGS Japan Inc. (FY2021)

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