Message from the President
Sustainability management policy
In 2021, Toyo Tire Corporation announced its medium-term business plan, the Medium-Term’21 Plan, where we declared our intention to strengthen sustainability management — incorporating sustainability into management and aiming to create social value through our business.
To take determined action toward this goal, in April 2021 we established the Sustainability Committee under the Executive Committee, with myself as chairperson, to serve as the body that deliberates on company-wide strategies for sustainability.
We also developed a basic policy to use as a set of principles for discussing, thinking about and engaging in sustainability, to first confirm which perspectives we should always bear in mind.
Companies are now being asked what their motivations are in pursuing sustainability, and what kind of stance they are taking in order to ensure the sustainability of the society they are a part of.
For Toyo Tire Corporation, our Company Philosophy both signifies our purpose and can be seen as our motivation for sustainability. We believe that underpinning our sustainability initiatives with our philosophy is a way to pursue our corporate identity, and at the same time also means integrating sustainability into business management.
We see it essential to shift from short-term thinking to a medium- to long-term mindset, as well as to work together with others in the supply chain, ally with relevant organizations, respect internationally-recognized standards, and form wider partnerships through society as a whole in order to avoid becoming self-righteous.
Materiality and value creation
Sustainability is about demonstrating our purpose within society. We have worked to address, from both risk and opportunity standpoints, the particularly important issues we can impact, and reflected them in our materiality.
We have identified seven material issues and classified them into three domains: the value we create in society through our business, the foundation necessary to create that value, and the overall foundation a company should have.
TOYO TIRE Group's Materiality
Domain Ⅰ Value creation
Society of sustainable mobility
1. Help create a society of sustainable mobility
Enjoyment of mobility for all
2. Support the enjoyment of mobility for all
Domain Ⅱ Foundation for value creation
3. Support diverse talent with motivating challenges and job satisfaction
4. Continue innovating next-generation mobility technology
Domain Ⅲ Risk management
5. Pursue decarbonization in all corporate activities
6. Promote supply chain sustainability
Quality and safety
7. Ensure the fundamentals of manufacturing:quality and safety
When envisioning a society of sustainable mobility five to ten years from now, we would like to see ourselves continuing to create value that brings joy through our unique products and services. It is no longer an exaggeration to say that electric vehicles (EV) are the key to sustainable mobility. And as the growth of the EV market picks up speed, it is anticipated that it will also diversify
We will utilize our strengths in this growing and diversifying EV market, taking on the challenge of sustainability with our own unique strategy of providing “the enjoyment of driving” and anticipating user preferences to provide satisfaction.
Our commitments to human capital development and technological innovation indeed also form an invaluable and important foundation that supports value creation, and we will further work to strengthen both.
We will also improve our risk management in order to protect the foundation of our business and the unique value that we create in society.
Regarding the decarbonization of our corporate activities specifically, we have set a target to reduce emissions by 46% compared to 2019 levels by 2030, with the ultimate hope of going carbon neutral by 2050. We will also expand our use of renewable energy, save energy through equipment updates and new manufacturing systems development, and innovate on-site decarbonization through digital transformation.
Then there are the issues of resource recycling and human rights within the supply chain, the importance of which will only increase in the future. We are already addressing both of these matters through approaches such as researching and developing sustainable materials, promoting retreading of truck and bus tires, partnering with primary natural rubber suppliers, and implementing objective risk assessment systems.
To ensure steady implementation, activity progress is compared against medium- and long-term targets and plans, changes are regularly shared with and evaluated by the Sustainability Committee, and then feedback is given to each usiness function. While progress was generally positive in the evaluation from fiscal 2021 to the present, we recognize the necessity of keeping close watch over the impact major global changes may have in the future.
In 2019, we became a signatory to the United Nations Global Compact, declaring our support for its 10 principles in the four areas of human rights, labor, the environment and anti-corruption. We also announced our commitment to ensuring ransparency and accountability to society, to strengthening these through stakeholder dialogue, and to working towards achieving the SDGs through our business activities.
By closely integrating initiatives based on our Sustainability Management Policy into corporate management centered around our medium-term business plan, we will fulfill our responsibility as a member of global society while improving our corporate value.
We would like to thank you for your kind, continued support of the Toyo Tire Group.
Action for Sustainability
- Message from the President
- TOYO TIRE Sustainability
- TOYO TIREʼs SDGs
TOYO TIRE Materiality
- Help create a society of sustainable mobility / Support the enjoyment of mobility for all
- Support diverse talent with motivating challenges and job satisfaction
- Continue innovating next-generation mobility technology
- Pursue decarbonization in all corporate activities
- Promote supply chain sustainability
- Ensure the fundamentals of manufacturing: quality and safety
Sustainability and ESG themes beyond the material issues
- E: Environmental
- S: Upholding human rights
- S: Managing occupational health and safety to global standards
- S: Crisis management (responding resiliently to natural disasters, infections and other crises)
- S: Working with local communities (Helping solve local issues)
- G: Sound governance
- G: Compliance
- G: Information security
- G: Promoting DX (Achieving borderless and centralized management through ERP reform)
- Toyo Tire Group Charter of Corporate Behavior
- Toyo Tire Group Code of Conduct
- Site Report
- Report Downloads
- Editorial Policy
- GRI Content Index
- ESG Data/Survey Index
- Communication on Progress (CoP) Index
- External Recognition