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, the most important management resource is “human resources”, so maximizing our human capital 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.
Wacoal Corp., our core operating company, has established the “Human Resources Development Committee”, attended by the President and other Directors, to discuss and formulate policies regarding human resource strategies.
A Human Resources
As the business environment is becoming increasingly uncertain, the strategies related to human resources, 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 human resources is certain to intensify more than ever before, and it is therefore necessary to formulate and implement a human resources strategy to be an attractive company. In addition, in order to promote reforms without interruption, it is necessary to create an environment and/or a culture that will enable individual employees to grow further and to link their strengths to the organizational strengths.
At Wacoal Corp., in parallel with measures to quickly improve profitability, we will promote initiatives based on the three axes of (i) supporting career autonomy and providing growth opportunities (human resources development), (ii) strengthening management capabilities to maximize teamwork (organizational development), and (iii) creating systems and mechanisms that support job satisfaction, DE&I and well-being (culture development) in order to be a company that is chosen and will continue to be chosen over the medium to long term.
Human Capital Strategy (Target: Wacoal Corp.)
| Basic policy | Further promote career autonomy and foster a corporate culture that allows employees to feel fulfillment in their work, and aim to become “a company that shares success with all employees” by bringing out the individuality and strengths of each employee |
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| What we look for in our employees | “Autonomous and innovative employees” Employees who respect and can embody our management philosophy. Employees who can rethink existing concepts and current frameworks and innovate with enthusiasm. Employees who can proactively enhance their own abilities and take on the challenges of new possibilities. Employees who can build good teamwork and contribute to organizational goals. Employees who can practice healthy and sound lifestyles. |
| Human capital issues based on management strategies | ＜Direction.＞ Realization of organizational management by a small group of highly skilled employees = individual growth x improvement of organizational strength x fostering an attractive culture Implementing human resource development, organizational development and culture reform for medium- and long-term growth while, at the same time, pursuing personnel plan management to improve profitability at an early stage. ＜Priority issues＞ (i) Recruit, train and promote employees who will be responsible for the company’s growth.
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| Initiatives to maximize human capital | Ⅰ. Acquisition of talent |
| Ⅱ. Support growth (training, reskilling, career development) | |
| Ⅲ. Strengthen management capabilities | |
| Ⅳ. Promotion of DE&I | |
| Ⅴ. Achievement of well-being |
Initiatives to Maximize Human Capital
Relationship with Labor Union
The Wacoal Group has a labor union. The Wacoal Labor Union, organized by employees for Wacoal Corp. and some other Wacoal Group companies, is run under the union shop system. (A total of 3,515 union members as of March 31, 2023)
The preamble to Wacoal's labor agreement made between the labor and management clearly states that under a spirit of mutual trust, the development of the Wacoal Group and the improvement of working conditions for union members will be promoted through productivity enhancement. In Labor-Management Council meetings, the progress of medium-term management plans is reported and the operation of the human resources management system is checked and confirmed, thus promoting better relations between the labor and management.