Riken Vitamin's Materiality
In 2019, we identified the key themes (material issues) of our CSR activities. In 2022, we formulated our medium- to long-term vision of “Achieving growth by supporting a sustainable society with specialty products and services.” Our goal is to link our contributions to sustainability with increased corporate value. In light of our medium- to long-term strategies and changes in our business environment, we reviewed our material issues in 2024. We identified eight new material issues that we consider priority management issues, and the Management Meeting and the Board of Directors have approved them. Our objective is to increase corporate value while creating environmental and social value through initiatives related to our material issues.
Process for Identifying Material Issues
| STEP1 | Identify and summarize social issues |
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- Drew on the SDGs and other inspirations to identify social issues and trends
- Clarified the relationship between business and social issues and trends
| STEP2 | Submit outcomes to senior management for discussion and create draft |
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- Drew on interviews and discussions with senior management to identify business opportunities and risks for each social issue and trend
- Created draft
| STEP3 | Engage external experts to assess validity |
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- Obtained third-party opinions on the draft by interviewing two external experts
| STEP4 | Approval by the Board of Directors |
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- Finalized the draft
- Presented the draft to the Board of Directors
Material Issues
| Domains | Material Issues | Relevant SDGs | |
|---|---|---|---|
| Technology-Based Value Creation | Create value through research and development | As a research and development-oriented company, we focus on the development of new technologies, new applications, and new products that support a sustainable society. | 
9.5 |
| Provide safe and reliable products | We provide safe, high-quality products and appropriate information that reassures customers. | 
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| Contribute to health and a rich dietary life | We contribute to health and a rich dietary life for all people by providing specialty products and services. | 
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| Contributing to the Global Environment | Address climate change | We help to mitigate climate change by providing products that reduce greenhouse gas emissions and promote decarbonization. We also promote the development of technologies for adapting to climate change. | 
13.3 
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| Contribute to the transition to a circular economy | We promote the transition to a circular economy with products and technologies that help reduce food loss and environmental impact. |
12.3 |
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| Well-Being for People and Society | Build a resilient supply chain | Together with our stakeholders, we aim to build a resilient supply chain with careful consideration of human rights, the environment, and biodiversity. | 
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| Promote diversity and inclusion | We aim to be a company that can generate sustainable growth by respecting diversity and employing and developing the capabilities of all individuals. | 
5.4 5.5
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| Provide a safe and healthy working environment | As a company that contributes to health and nutrition, we provide a safe and healthy environment in which employees can work with confidence and motivation. | 
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Evaluation by External Experts
In May 2024, we engaged external experts to assess the validity of the proposed revisions to our material issues and solicited the opinions of Riken Vitamin Group executives.
We consider sustainability-related initiatives that impact finances to be material. From the perspective of value creation, explaining the connection between the value of health and R&D can help the Riken Vitamin Group stand out. If research into areas such as blue carbon has the potential to lead to future business opportunities, highlighting this can help the Riken Vitamin Group further demonstrate its uniqueness. In addition, adapting to climate change will be a major issue in the food industry. It is necessary to ensure that the supply chain remains uninterrupted, even if the situation worsens. I believe that initiatives to support wakame aquaculture are a great example because they both ensure stable procurement and contribute to the local community.
Hidemi Tomita
Managing Director LRQA Sustainability Co., Ltd
The Riken Vitamin Group has unique businesses, and focusing on material issues that underline its competitive advantages and differentiation strategies helps to emphasize its uniqueness. A company must continuously improve corporate value, and a clear relationship between material issues and business helps shareholders and other stakeholders accurately evaluate the Riken Vitamin Group. Recently, a growing number of companies with a commitment to society and the environment have created new businesses by working to resolve issues. In addition to addressing risks, I would like the Riken Vitamin Group to think of environmental changes as opportunities and reflect them in its material issues and key performance indicators.
Mika Takaoka
Professor, College of Business, Rikkyo University
※Note: Titles as of June 2024