Material Issues
Identification of Material Issues
In 2021, the NISSIN FOODS Group used the following steps to identify material issues. A review of the material issues is also conducted at least once each year at the Sustainability Advisory Board, an advisory committee of the Board of Directors.
Step1：Extracting Stakeholders’ Expectations of the Group
International standards—such as the areas of emphasis in the Dow Jones Sustainability Index (DJSI)* and guidelines of the Sustainability Accounting Standards Board (SASB) of the United States—were used as references to extract stakeholders’ expectations of the Group. Stakeholders’ degree of expectation was determined from the distribution of points among the items established within the DJSI.
- *Index for investors which evaluates companies from the three aspects of the economy, the environment, and society
Step2：Identifying Material Issues the Group Should Focus on
The issues derived in Step 1 and Step 2 were deliberated at the Management Advisory Committee, which includes the participation of the chief executive officer (CEO), chief operating officer (COO), and outside directors, as well as the Sustainability Advisory Board, which is attended by external experts.
Degree of stakeholders’ expectations and the degree of impact on businesses were combined to identify four materials issues that should be undertaken with priority.
Step3：Identifying Important Themes the Group Should Focus on
Degree of stakeholders’ expectations of the Group and the degree of impact on the Group’s businesses were combined to extract important themes the Group should undertake intensively. These were prioritized to identify four material issues.
Related Information
Announcement of Commitments at Tokyo Nutrition for Growth Summit
The Tokyo Nutrition for Growth Summit is a global summit for the leaders of governments, international agencies, companies, civil groups, and other entities to discuss widely about improving nutrition for people around the world under the themes of health, food, and resilience, deepen the shared recognition about the direction of future actions, and promote initiatives toward solving global nutrition issues.
It is a practice that the country hosting the Olympic and Paralympic Games will organize this summit. The first summit was held in 2013 in the United Kingdom (London), the second in 2016 in Brazil (Rio de Janeiro), and the third was held on December 7 and 8, 2021 in Japan (Tokyo).
To promote its efforts in sustainability, the NISSIN FOODS Group announced its commitment toward achieving “nutrition improvement” and “building sustainable food system” at the summit.
- (1) Wellness Products
- We will promote the health and nutritional properties of all our products. We will increase the Group’s sales of wellness products in Japan to ¥ 23 billion by 2030, contributing to promoting people’s health.
- (2) Food Allergen Tests
- We will develop a new testing method that allows simultaneous tests on recommended labeling of food allergens with high accuracy by 2030. We will promote the method and conduct more than 100,000 tests in total, contributing to ensuring food safety and supply.
- (3) Meat Alternatives
- NISSIN FOOD PRODUCTS will increase the amount of vegetable protein used as instant noodle ingredients in Japan to 1,100 tons per year by 2030 and promote the use of meat alternatives, contributing to establishing a sustainable food system.
- (4) Food Waste
- We will, by 2030, reduce the total amount of food waste from the Group’s distribution and sales in Japan by 50% compared to 2015, contributing to establishing the sustainable food supply chain.