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Materiality for the Ricoh Group

Ricoh Group aims to create new markets and value propositions by looking broadly at social issues, and taking on the challenge to resolve them while simultaneously achieving social development and Ricoh's own business growth. Based on Materiality reflecting Ricoh's Mission Statement, the Mid-Term Management Plan (MTP), and the expectations of our stakeholders, we will address to solve social issues through business.

Process of Materiality Analysis

In 2014, Ricoh Group set materiality for the first time based on the trends of the international community, expectations from stakeholders, and importance for management. With the launch of its 19th MTP in April 2017, Ricoh has newly established five material issues which it needs to focus on through business, based on the Sustainable Development Goals that were agreed by the international community, Ricoh's Mission Statement, the MTP, and expectations from stakeholders.

image: Process of Materiality Analysis

To the Ricoh Group, a sustainable society is one that pursues a Three Ps Balance - the balance of Prosperity, People and Planet - and its aims for it an ideal society. The following figure shows how the five material issues and the Three Ps Balance align with the SDGs. We will set target and KPI for each issue with business division and reinforce the initiatives through business.

Five material issues and SDGs

image: Five material issues and SDGs

2030 Goals for Material Issues

In June 2019, the Ricoh Group set the goals to accomplish by 2030 for the five material issues. The goals were set through the process summarized below, in order to accelerate our efforts to achieve the SDGs based on the basic management policy of solving social issues through business. Going forward, each business division will carry out activities to accomplish self-set targets to contribute to achieving the SDGs and monitor the progress to be reported every year. In addition, we will review and refine target levels, KPIs and assessment methods on an ongoing basis in consideration of societal requirements and international norms as well as the opinions of our stakeholders, including customers, the social sector and experts. The resultant refinements will also be reflected in our business activities to increase the social value of the activities.
Also, through these activities, individual employees are expected to become more aware of their contribution to society through their work, thereby increasing employee motivation and engagement.

The Ricoh Group’s activities, framework for sustainability, and 2030 goals

For each of the areas related to economic sustainability, society and the environment, we have set the three objectives: realization of the ideal society; resolution of material issues; and achievement of goals 2030. The goals represent our contribution to our customers, the number of people that use the medical, educational, and community services incorporating Ricoh technology and the environmental impact throughout the value chain that is a result of business divisions’ activities.

image: Goals to accomplish by 2030 for the five material issues

Process for setting 2030 targets

  1. Combining two opposing approaches: the backcasting method with the ideal society achieved through the SDGs set as the final goal; and the forecasting method based on business strategies (EMPOWERING DIGITAL WORKPLACES)
  2. Mapping out what part of and how much our business activities will produce an effect on society
  3. Discussed by the management team and reviewed by experts before being finalized by the ESG Committee*

*ESG Committee was established to ensure that the Ricoh Group’s medium- to long-term issues in environmental, social and governance-related areas are discussed continuously at the management level to raise the management quality of the entire group, aiming to meet expectations and requirements from stakeholders in an appropriate and timely manner.