In fiscal 2016, the Mitsubishi Electric Group identified materiality and initiatives in response to today's social trends and business environment, as required by the fourth edition of the GRI Guidelines.
In fiscal 2021, a full internal review of the materiality, initiatives, and targets/key performance indicators (KPIs) was undertaken by the Sustainability Expert Committee and Sustainability Business Promotion Committee, in view of subjective evaluations from outside the company, including stakeholder questionnaires targeted at general consumers (600 respondents) that have been carried out since fiscal 2017 as well as other questionnaires and interviews from a total of 951 people, including Mitsubishi Electric Group employees, suppliers, investors, and analysts.
In order to expand the scope of information disclosure, while continuing to incorporate opinions from inside and outside the company, these initiatives will be further strengthened, and the materiality, initiatives, and targets/key performance indicators (KPIs) will be reviewed through ongoing improvement activities based on the PDCA cycle.
Candidate materiality (357 issues) were identified based on ISO26000*1, the GRI Standards*2, the SASB standards*3, and the Sustainable Development Goals (SDGs).
Extraction of candidate materiality from guidelines, etc.
Questionnaire for stakeholders
Using the short list created in step 1, we conducted a questionnaire survey of consumers, suppliers, investors, and Mitsubishi Electric Group employees, who are our stakeholders, regarding what expectations they have for the Mitsubishi Electric Group to contribute to addressing social challenges. In addition, we received opinions from experts regarding the identification of materiality through interviews and dialogues with them in order to assess both internal and external views of the Mitsubishi Electric Group. Based on the results obtained, internal working groups narrowed down the issues that the Mitsubishi Electric Group should address as top priority, and the Sustainability Expert Committee and Sustainability Business Promotion Committee are studying the materiality of such issues.
Mitsubishi Electric’s Matrix of Materiality
Internal working groups
Interviews with experts
Dialogues with directors and experts
The issues thus extracted and studied through the above-described process and specific initiatives and targets/key performance indicators (KPIs) were confirmed by executive officers and identified as the Mitsubishi Electric Group's materiality by the Sustainability Committee.