2024.7.26
IR Survey Results 2024Q2: SSBJ Sector Classifications and the Evolving Role of Sustainability in Corporate Strategy
We conduct a survey for respondents following IR meetings. The survey covers impressions of the meeting with us, future IR policy, sustainability-related topics, and similar areas. Survey content is updated quarterly and responses are compiled.
■■ Overall Commentary on Survey Results ■■
This quarter, the proportion of respondents selecting "Management Philosophy" as an important topic in the meeting rose notably (24.4% → 42.6%), while the proportion selecting "Sustainability" declined (58.5% → 44.7%).
We believe this is because, as sustainability has become embedded into the core of corporate management, many respondents took a broader interpretation of "Management Philosophy" as a category. This is consistent with our recollection of meeting discussions, where conversations about "the relationship between management philosophy and materiality" were common. We view it as a very positive development — from the perspective of balancing economic and social value — that more companies are treating sustainability as an essential element of management and extending consideration to a broad range of stakeholders. At the same time, we cannot rule out the possibility that interest in sustainability is simply declining, and we will continue to monitor the situation through ongoing dialogue.
This quarter we also asked a question related to the Sustainability Standards Board of Japan (SSBJ) disclosure standards. SASB assigns companies to industry categories using its own classification system called SICS, and we asked whether this classification matches each company's own understanding of itself.
With only 55% of respondents answering that "the displayed classification is appropriate," the degree of misalignment appears significant. Since the content required under SSBJ disclosure varies by industry classification, it would be advisable to verify this at an early stage to ensure a smoother process.
There also appear to be usability issues with SASB's industry search tool. While 17.0% of respondents said their company "was not displayed," we were able to find most of them when we checked on our end.
Disclosure content by industry is available on the SASB website. If you have difficulty locating it, please feel free to contact us and we will send it to you.
■■ Compiled Results ■■
● Did this meeting cover topics that were important to your company?
Figures in parentheses represent results from the previous quarter (January–March 2024)
Yes: 100.0% (97.6%)
No: 0.0% (0.0%)
Neither/Unsure: 0.0% (2.4%)
● Which of the following topics were important to your company in this meeting? (Multiple responses allowed)
Medium- to long-term strategy: 72.3% (65.9%)
Sustainability: 44.7% (58.5%)
Management philosophy: 42.6% (24.4%)
Financial information: 25.5% (19.5%)
Business details: 23.4% (46.3%)
Other: 14.9% (17.1%)
● Please select the individuals who may be available to meet with us at your company in the future. (Multiple responses allowed)
IR officer: 85.1% (95.1%)
Sustainability officer: 48.9% (63.4%)
Responsible executive: 63.8% (51.2%)
Top management: 44.7% (36.6%)
Business unit head: 10.6% (17.1%)
Outside director: 8.5% (17.1%)
● Under the Sustainability Standards Board of Japan (SSBJ) disclosure standards currently being developed, specific considerations are defined for each sector. Each company's sector classification can be found by entering its name on the SASB website (https://sasb.ifrs.org/find-your-industry/). Please select from the options below how your company internally perceives the sector classification shown.
The displayed classification is appropriate: 55.3%
Additional classifications are needed beyond the one displayed (feedback already submitted): 2.1%
Additional classifications are needed beyond the one displayed (not yet addressed): 8.5%
The displayed classification is incorrect (feedback already submitted): 0.0%
The displayed classification is incorrect (not yet addressed): 2.1%
Our company was not displayed: 17.0%
Other: 14.9%
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