- I understand that Teijin's corporate philosophy focuses on "quality of life." In what sense do you use this phrase?
- Can you give us a brief outline of Teijin's operations?
- Can you tell us about Teijin's history?
- What is the makeup of Teijin's Board of Directors, Board of Auditors and Advisory Board?
- What sort of corporate governance structure has Teijin established?
- What is the Teijin brand's promise to customers and society?
- What is Teijin's basic philosophy regarding corporate social responsibility (CSR)?
- How is Teijin approaching corporate ethics issues?
- What steps is Teijin taking to grow with local communities and residents?
I understand that Teijin's corporate philosophy focuses on "quality of life." In what sense do you use this phrase?
The Teijin Group's corporate philosophy comprises three components: "Enhancing the quality of life through a deep insight into human nature and needs, together with the application of our creative abilities" "Growing in harmony with society" and "Empowering our people."We use "quality of life" in a broad sense, to mean the fulfillment that comes from general well-being, good health, security and contentment and from having work and interests and enjoying human contact, as well as the importance of all life on our planet. As this indicates, the Teijin Group believes firmly that companies exist to create value for people and contribute to their happiness.
Can you give us a brief outline of Teijin's operations?
Teijin conducts business in more than 20 countries in two main business segments: the Materials Business, which involves advanced fibers, performance polymer products and composites; the Healthcare Business, which is engaged in pharmaceuticals and home healthcare. In the fiscal year ended March 31, 2018, consolidated net sales amounted to ¥835.0 billion, while as of March 31, 2018, consolidated total assets were ¥986.2 billion.
Can you tell us about Teijin's history?
Teijin was established in 1918 and was the first company in Japan to produce rayon yarn. In 1958, we launched our Polyester Fibers business. Since then, we have leveraged our basic chemical technologies to establish Teijin as a leading Fibers manufacturer. We have capitalized on our technological expertise and experience in fibers to shift our operations to a diverse range of high-performance materials in the Materials Business field, including aramid fibers, carbon fibers, polyester film, polycarbonate resin and composites. We have also expanded our operations to business fields such as pharmaceuticals and home healthcare, as well as trading and retail and IT. Today, the Materials Business and the Healthcare Business are the two main pillars supporting Teijin.
What is the makeup of Teijin's Board of Directors, Board of Auditors and Advisory Board?
Four of the directors are independent individuals appointed from outside the Group. To separate responsibilities for monitoring/supervision and those for internal operations, the Teijin Limited Chairman of the Board (counselor or outside director in the case that the chairman in absent) is not involved as a corporate officer.The Board of Statutory Auditors consists of five members and is in charge of overseeing and auditing management. The majority (three) of the Statutory Auditors are independent and appointed from outside the Group to ensure outward transparency in management.The Advisory Board is a consultative body to the Board of Directors. It is comprised of five to seven Japanese and non-Japanese outside experts, the chairman or a senior advisor, and the CEO of Teijin Limited.
What sort of corporate governance structure has Teijin established?
To reinforce monitoring/auditing functions and fulfill our responsibilities to our shareholders, employees, creditors, customers, suppliers, consumers,and local residents and communities, we have sought to boost transparency, ensure fairness, guarantee objectivity and accelerate decision making through, among others, a corporate governance structure comprising the Advisory Board, Board of Auditors, and Board of Directors and corporate officers.
What is the Teijin brand's promise to customers and society?
Corporate brands are increasingly influential in determining public perceptions of a company's operating activities and corporate value. Our brand statement—"Human Chemistry, Human Solutions"—summarizes our brand strategy, which is to continue to develop chemical technologies that are friendly to both people and the global environment and to keep providing solutions that deliver the real value that society and our customers expect.
What is Teijin's basic philosophy regarding corporate social responsibility (CSR)?
The Teijin Group believes that the survival and prosperity of any corporate entity depends on the survival and prosperity of society. Accordingly, we are committed to fulfilling our responsibilities as a corporate citizen and earning the trust of society. To this end, we have made "Growing in harmony with society" a key component of our coporate philosophy. To achieve an ideal balance between economical activities and social activities in business management, we appoint the Chief Social Responsibility Officer in charge of ESH, corporate ethics, compliance and social responsibility.
How is Teijin approaching corporate ethics issues?
We believe that observing a strict code of corporate ethics should be an essential core value for any corporate entity. Through training programs for executives and employees, as well as through our annual Corporate Ethics Week, we are endeavoring to promote greater awareness of corporate ethics among executives and employees at all levels. To ensure the ongoing relevance of our corporate ethics guidelines and related activities, we use surveys and hotlines, information from which is used to help us gauge the effectiveness of efforts, address issues and communicate with employees.
What steps is Teijin taking to grow with local communities and residents?
As a conscientious corporate citizen, we recognize our responsibilities as a member of the many local communities in which we operate as well as the wider global community. We also believe we have a responsibility to establish a solid relationship, built on trust, with the public by creating opportunities for interaction. Accordingly, we are promoting a variety of programs at our plants and offices in Japan and overseas designed to enhance our ties to local communities.