Human Capital
Our Basic Approach
For our group, which has established the majority of its value chains, spanning from basic research and product planning and development to materials procurement, production and sales, using the resources within our group, recognizing "talents" as capital and striving to maximize its value is an important management initiative. We believe that realizing an attractive corporate culture in which each of the employees of our group can work while "being emotionally fulfilled," "feeling fulfillment in their work," and "maintaining motivation" will enable each employee to maximize his/her potential, produce organizational results such as improved productivity and competitiveness, and eventually lead to sustainable growth.
System for promoting Human Capital
In developing human resource strategies based on the business strategies of each operating company, the human resources department of each operating company takes the initiative in formulating and implementing specific measures to address human resource issues, monitoring progress, and evaluating and examining the status of achievement. At the same time, in order to ensure the effective functioning of governance concerning human capital of the entire group, we regularly monitor the status of initiatives at each operating company, mainly from the perspective of human rights, diversity, equity & inclusion ("DE&I") and compliance, and provide instructions and requests as appropriate.
Talent Strategy
As the business environment is becoming increasingly uncertain, the strategies related to talents, which will play a key role in the rapid transformation of the business model, will only increase in importance. In Japan, in particular, as the working population declines due to the aging of the population and the declining birthrate, competition for talents is certain to intensify more than ever before, and it is therefore necessary to formulate and implement a talent strategy to be an attractive company. To advance the formulation and implementation of decisive structural reforms and growth strategy in parallel and at higher speed, the Company will pursue measures that contribute to further growth of individual employees as well as reforms to create an environment and culture that enable employees to use their individual strengths, thereby leading to strengths of the organization.
In the Group, employees belong to each operating company (0 employee belongs to the Company), and human resources strategies and measures are formulated in tandem with individual companies' business strategies, and implemented and verified after consultation and arrangement in each employer-employee relationship. Therefore, disclosure on a consolidated basis is difficult, and the status of implementing strategies and measurers of Wacoal Corp., which is the core operating company, are provided at present. On a consolidated basis, we view the enhancement of governance related to human capital of the Group, specifically perspectives of human rights/DE&I and compliance, as a major issue, and will continue to give consideration so that we will disclose information of the Group including consolidated companies at a stage where initiatives for these issues are advanced.
Human Capital Strategy (Target: Wacoal Corp.)
| Basic policy | In addition to individual growth, we will further focus on the initiatives to translate individual capability into results, to realize virtuous cycle between "growth of the company" and "investments in human capital and growth of talent." |
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| Key Initiatives of Human Capital Strategy |
I. Recruitment Addressed by materiality: 5 Building of an organization that can demonstrate great results through co- creation and collaboration |
| II. Promote employees' growth (Talent and career development) Addressed by materiality: 4 Growth into talents who can expand their potential and have confidence, pride, and success |
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| III. Strengthen management capabilities Addressed by materiality: 5 Building of an organization that can demonstrate great results through co- creation and collaboration |
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| IV. Promotion of DE&I Addressed by materiality: 5 Building of an organization that can demonstrate great results through co- creation and collaboration |
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| V. Improvement of employees' well-being Addressed by materiality: 6 Continuous improvement of employees' health and health awareness |
Initiatives to Maximize Human Capital
Metrics and Goals
Relationship with Labor Union
The Wacoal Labor Union has been organized for Wacoal Corp., and it belongs to the Japanese Federation of Textile, Chemical, Food, Commercial, Service and General Workers' Unions (common name: UA ZENSEN). In addition, independent labor unions have been organized in-house at some subsidiaries.
Wacoal's labor-management relations are based on the preamble to the labor agreement, which states that "under a spirit of mutual trust, the development of the Wacoal Group and the maintenance and improvement of working conditions for union members will be promoted through productivity enhancement." Through Labor-Management Council meetings and other forums, the progress of medium-term management plans is checked, personnel systems and various regulations are developed, run, verified, etc., and activities are pursued to ensure that employees and the company grow together and their organizations get even better.