Message from the President

President, Toray Industries, IncAkihiro Nikkaku

Contributing to society through the creation of new value with innovative ideas, technologies and products

Supporting Society in Every Era

Humanity today faces a multitude of challenges when it comes to the natural environment. Problems like climate change, water scarcity, and resource depletion are becoming more and more severe. These and many other issues must be resolved if humanity is to build a sustainable world that can support future generations in an era of increasing populations and aging demographics. Companies are expected to take steps above and beyond national and regional frameworks, tackling the global issues addressed by the Paris Agreement on climate change and the Sustainable Development Goals (SDGs) adopted at the United Nations.

Since the very founding of the Toray Group, our fundamental mission has been to contribute to society, and we formalized this as our company principle in 1955. This same commitment is now captured by our corporate philosophy, “Contributing to society through the creation of new value with innovative ideas, technologies and products.” After all, every product people use is made from materials—and we believe materials can change lives. This conviction underpins our commitment to being the kind of company that can support society in every changing era. We aim to do this by leveraging our core technologies to create innovative materials to help solve the challenges the world faces, and fulfilling our responsibilities as a public institution.

Since fiscal 2017, in line with our long-term corporate vision, AP-Growth TORAY 2020, we have been executing our medium-term management program, Project AP-G 2019. One of our key strategies is to expand businesses in growth fields. Under this strategy, the entire Toray Group is focusing on Green Innovation businesses, which contribute solutions for environmental, resource, and energy issues, and our Life Innovation businesses, which enhance the quality of medical care and contribute to health maintenance and longevity. In addition, in July 2018 we established the Toray Group Sustainability Vision, which includes specific initiatives to help create the world envisioned by the Toray Group by 2050 as well as quantitative targets for 2030. The Vision also lays out our long-term determination to provide innovative technologies and advanced materials to help address global issues.

At the Toray Group, we integrate corporate social responsibility into our management strategies, recognizing that the CSR perspective is essential to delivering a sustainable business and social growth. Social responsibility is a top priority for Toray Group management. Under our Sixth CSR Road Map, which covers the same period of time as Project AP-G 2019, we are carrying out initiatives in areas such as corporate ethics and legal compliance, human rights promotion and human resources development, and safety, accident prevention, and environmental preservation.

Reinforcing Product Quality Assurance Compliance

In November 2017, Toray announced with regret that Toray Hybrid Cord, Inc., a Toray subsidiary, had inappropriately overwritten product inspection report data. We sincerely apologize for the concern and inconvenience that this incident caused for our stakeholders. (For details on this incident and the Group’s response, please see “Reinforcing Compliance in Product Quality Assurance” in this report.)

At the Toray Group, we expect all officers and employees to acquire right knowledge and constantly consider whether their subordinates, colleagues, supervisors—and most of all themselves—are behaving appropriately. Group-wide, we share the conviction that this practice raises not only personal and professional value, but also the value of the workplace, products and company; proper conduct is critical to our capacity to contribute to society. In our renewed effort to ensure compliance in quality assurance processes, we have asked our entire team to recommit themselves to having the integrity to do the right thing in the right way.

This report systematically presents our social responsibility initiatives and results for fiscal 2017 and is designed to engage all of our stakeholders. I invite you to spend some time with this report and get to know the Toray Group better.

September 2018