Stakeholder Engagement
Basic Approach
Ushio believes that in the course of corporate management it is important to co-create value not only with shareholders but also with employees, business partners, customers, creditors, local communities, and other diverse stakeholders. For this reason, we will fulfill our corporate social responsibilities by engaging in continuous dialogue with each stakeholder and utilizing the opinions we receive on a daily basis in our management. Revenues and results generated through value co-creation and productivity improvement will be appropriately distributed to each stakeholder through the following initiatives.
Actual Results
| Stakeholders | Policy | Initiatives |
|---|---|---|
| Employees | Ushio's Management Philosophy states in the first paragraph, "Build both a prosperous company and prosperous employees." As part of Ushio’s ESG management, we have set "developing our diverse talent to get closer to our vision" and "creating working environments where it is easy to produce results" as important issues (materiality), and we will work to maximize added value by developing employees and increasing productivity. On top of that, using the revenue and results generated, we will raise wages in an appropriate manner based on the company's situation in accordance with the "Principles of Wage Determination," and aim to be a "highly engaged group" in which the company and employees grow together and benefit each other. In addition, based on the belief that "human capital" is the most important management resource that supports the sustainable growth of the company, we aim to provide sustainable returns to employees by actively investing in personnel. |
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| Business Partners |
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| Other stakeholders |
In Revive Vision 2030, Ushio defined itself as "Innovation Company of Light," aiming to contribute to societal challenges and technlogical advancements by utilizing light not only as illumination and energy as our Misson. We will work toward sustainable development by solving social issues with our proprietary optical technology, matching social value with economic value, and sharing this value with all stakeholders. |
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Specific Initiatives
Introduction of Employee Stock Compensation System
We are taking various measures with the aim of achieving high engagement levels that enable the Company and employees to grow together in line with Vision 2030.
In fiscal 2023, we introduced an employee stock compensation system through an employee stock ownership plan covering Group companies in Japan. Under this system, employees receive shares in the Company as compensation for the positive impact of achieving the required targets of the 1st Medium-Term Management Plan and as a means of supporting collaboration between management and employees under the 2nd Medium-Term Management Plan, which started in fiscal 2023.
In addition to further increasing employees’ investment in business performance and enhancing motivation to work with management to improve medium-to long-term corporate value, we will look to encourage uptake of the employee stock ownership plan as a means to help employees build assets.
Internal Communications
Cultural and Sports Clubs
Ushio has a Culture and Exercise System with around 40 active clubs including a Marathon Club and a Reading Club. The Company provides subsidies and other support for club activities as a way of helping employees to improve their health, increase their cultural education and development, and enjoy communication and refreshment with one another.
Engagement Survey
Survey Implementation and Taking Results on Board
After starting our engagement surveys in fiscal 2021, the scope was expanded to cover Japanese and overseas Group companies in fiscal 2022.
These surveys are a way to visualize employee engagement. We define engagement as “a state of feeling valued through relationships with the Company and co-workers and feeling motivated to make an active contribution.” The engagement score* indicates the percentage of employees who answered affirmatively to questions indicating that this statement applies to them.
In analyzing the 2023 survey results, we found that two factors—“communication from management” and “receiving interest in one’s own work”—are crucial for improving engagement.
In response to these findings, for fiscal year 2024, we implemented dialogue sessions with young employees and created videos where top management personally explains New Growth Strategy announced in May 2024. We also created “manufacturing videos” that clearly introduce our products from the manufacturing lines to help employees re-recognize the strengths of our products and how they contribute to society, thereby increasing their interest.
As a result, Ushio’s engagement score for fiscal year 2024 reached 61%, achieving a 5-point increase compared to the previous year. We will continue our efforts to maintain a high level of engagement, where the company and employees grow together..
*Measuring Method of the Engagement Score
Ushio calculates by averaging the percentage of employees who respond positively to the following three questions:
1.A question about willingness to recommend workplace to others.
2.A question about sense of accomplishment through work.
3.A question about willingness to contribute to work.
*Our engagement survey includes questions about understanding one’s own role and stress levels.
