Materiality/Sustainability Themes

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Materiality

In formulating the JAPEX Management Plan 2026-2035, we positioned materiality as "significant challenges to our growth strategy." From among the challenges with significant financial implications, we have identified four challenges as material issues centering around the key areas to enhance our corporate value.

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Process for Identifying the Material Issues

STEP1 Identify and evaluate challenges

Comprehensively identify challenges with large social and financial implications in consideration of the GRI Standards and other guidelines. Analyze our strengths and weaknesses by considering the external environment and sort out the challenges from the perspective of medium- to long-term risks and opportunities.

Risks and Opportunities

STEP2 Align with Management Plan

Verify the challenges through discussions among the management officers and managers. Align with the Management Plan formulation process and identify the significant challenges to our growth strategy.

STEP3 Verify financial impact

Confirm consistency with the financial targets of the Management Plan. Verify the magnitude of financial impact brought about by each challenge from the perspective of growth strategy and identify four key challenges directly linked to medium- to long-term improvement of corporate value.

STEP4 Finalize

Following discussions among general managers and officers at the Sustainability Committee, approve the new Management Plan including the redefined material issues at Executive Committee and Board of Directors.

Related

Management Plan

Sustainability Themes

In addition to materiality, which represents "significant challenges to our growth strategy", we have formulated Sustainability Themes as "initiatives for the business foundation underpinning our growth strategy." While clearly differentiating them from the material issues, we have established challenges in our business activities in line with the ESG framework.

List of Sustainability Themes

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Note: Sustainability Themes comprise initiatives for the business foundation that are not included in material issues.

Ideal State

Environment

Promote participation in renewable energy projects by leveraging the knowledge and experience gained from conventional businesses.
Strengthen demand creation measures, including fuel-switching proposals, to expand the utilization of natural gas that contributes to reducing environmental impact.
In conducting business, strive for energy conservation and the efficient use of natural resources, thereby contributing to global warming prevention and resource sustainability.
Reduce the environmental impact by preventing water, air, and soil pollution and taking ecosystems into consideration.

Related

Social

Achieve a stable supply of energy by maintaining stable supply sources and infrastructure for crude oil and natural gas, efficient and safe operations, and ensuring the quality and safety of its products.
Secure diverse sources of supply by actively participating in the development of geothermal, solar, and other renewable energy sources, as well as unconventional energy sources such as shale oil gas and methane hydrate, while contributing to the development of related technologies such as Carbon dioxide Capture and Storage (CCS).
Secure occupational health and safety, develop various risk management policies and systems, including security risks, and firmly establish a corporate culture that places top priority on HSE.
Firmly establish a corporate culture that respects human rights and eliminate all forms of discrimination and harassment through the continuous implementation of human rights due diligence across the entire value chain and the operation of effective grievance mechanisms.
Through open and sound communication with stakeholders, gain an accurate understanding of the requirements society places on the JAPEX Group.
By creating employment in regions where the Group operates and pursuing fair business practices, achieve co-existence and growth with its business partners, customers, and oil- and gas-producing countries.
Respect local cultures and maintain good relationships with local communities through social contribution and funding initiatives outside our business activities.
Establish a friendly workplace where all its employees - encompassing a wide range of genders, nationalities, academic qualifications, and careers - recognize the diversity of each other's attributes, fulfill their individual potential, receive appropriate evaluation and remuneration, improve their technical skills and knowledge, and are able to grow.
As a global company, provide an attractive work environment where talented people choose to work.

Related

Governance

Practice highly efficient and transparent management under its governance structure.
Establish a compliance system that prevents the occurrence of improper activities and legal violations.
Foster employee awareness to promote steadfast work practices that are aligned with our Corporate Vision.

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