Highlights of the Year


Strengthening the Group’s ESG Organizational Structure and Governance

The HOYA Group drafts policies and key initiatives with respect to ESG through the ESG Promotion Office, a dedicated organization under the Chief Sustainability (ESG) Officer. The Board of Directors, which serves as the monitoring board, deliberates on these policies and initiatives, decides whether to adopt them, and receives regular reports from the CSO (four times in fiscal 2022), offering advice from a wide range of perspectives. In addition, a sustainability/ESG-related team and personnel in charge are established in each business division. These personnel establish key performance indicators (KPIs) aligned with Group targets. The CSO reports their activities and progress to the Board of Directors, which monitors them.

In fiscal 2022, ESG indicators were incorporated into the Performance Share Unit (PSU) that serves as a medium- to long-term incentive in Executive Officers’ remuneration. To enhance the effectiveness of these indicators, in fiscal 2022 key ESG criteria, such as degree of achievement of renewable-energy targets, were added to the annual incentives of personnel responsible for each business.


Measures Related to Climate Change

Scenario analysis based on the TCFD declaration

In November 2021, HOYA announced its endorsement of the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD). After that announcement, the Company began conducting scenario analysis based on the TCFD declaration, identifying risks and opportunities associated with climate change and evaluating their financial impacts. Based on that analysis, HOYA is now moving forward with the drafting and implementation of countermeasures. The Company publishes a report entitled TCFD Disclosure, which describes this scenario analysis in detail.

Joining RE100*1 and Setting Targets for Renewable-energy Usage Rates

HOYA joined RE100 in February 2023, and has set a target to achieve a 100% renewable-energy usage rate (deriving 100% of the energy consumed in its business activities from renewable sources) by fiscal 2040. As an intermediate target, the Company aims to achieve a renewable-energy usage rate of 60% by fiscal 2030, and is accelerating efforts to transition to renewable energy.

Medium- to long-term CO2 emissions reduction targets

Energy purchases constitute over 90% of the HOYA Group’s CO2 emissions (Scopes 1 and 2). In addition to its target for renewable-energy usage rate, the Group has set a target of complete elimination of CO2 emissions (Scopes 1 and 2) by fiscal 2040. In addition to ongoing efforts, such as energy-saving activities and upgrading to high-efficiency equipment at production sites, the Group has begun a host of other measures in Japan and overseas including installing solar panels and switching to electrical power from sustainable sources.

For a detailed discussion, please read “Environmental.”

*1 “RE100” refers to “100% renewable electricity.” This international initiative commits influential companies worldwide to converting the energy they use in business activities to 100% renewable energy.

Medium- to long-term Targets for Renewable-energy Usage Rate and Reduction of CO2 Emissions

Fiscal 2021

usage rate

CO2 emission volume 522,000t

Fiscal 2030

Target renewable-energy usage rate:60

CO2 emission volume = -60%

Fiscal 2040

Target renewable-energy usage rate:100

CO2 emission volume = -100%

Expansion of Human Capital

Employee engagement surveys

In September 2022, the HOYA Group conducted its third employee engagement survey. Targeting all HOYA Group employees worldwide, this year’s survey attained a 97% response rate. After analyzing the results of this survey, the Group implemented a series of measures, focusing on the fields of talent management and career development. The survey results were also discussed at the individual-workplace level, to identify points for improvement leading to meaningful plans of action.

Introduction of a new global performance management framework (performance evaluation system)

Based on the results of the employee engagement survey, the Group began operating a new, common global framework for performance evaluation, which was developed based on the previously used framework. The framework introduces 360° evaluation and other measures to reflect the results of performance evaluation and fosters an environment for obtaining regular and effective feedback for the purpose of personnel development.

Introduction of a career development program

HOYA recognizes that providing opportunities for continuous updating of knowledge and reskilling is vital for upholding its competitiveness. To that end, the HOYA Group is offering LinkedIn Learning, an on-demand, online learning platform. The platform will support career development for the employees who underpin HOYA’s growth strategy.

Establishing human-rights policy and exercising human-rights due diligence

The HOYA Group proclaims its philosophy and values through a number of policy statements. The HOYA Code of Conduct and HOYA Supplier Code of Conduct codify the Group’s guidelines for action based on respect for human rights. The Group professes its compliance with international principles and guidelines, informed by basic principles of human rights, and has established the HOYA Group Policy on Human Rights, whose scope includes its partnerships with HOYA stakeholders.

The HOYA Group is committed to exercising due diligence on human rights. As part of this effort, the Group has brought to light and enumerated potential human-rights issues and risks in its value chain and enumerated human-rights issues for each stakeholder. As a result, the Group has identified the following high-priority issues: risks related to labor compliance; privacy protection and personal-information management; consumer (patient) safety; and bribery/corruption. In addition to continuing efforts to enhance understanding of the Codes of Conduct and educational and training measures to prevent harassment, the Group is intensifying existing measures and augmenting them with additional approaches. Going forward, the Group intends to build and reinforce a framework for human-rights due diligence extending to all stakeholders throughout the value chain, from those within the Group to suppliers, for example through the use of questionnaire surveys.

In January 2023, HOYA signed the United Nations Global Compact (UNGC). Hoya supports all 10 of the UNGC’s principles in the areas of human rights, labor, the environment and anti-corruption and is pressing ahead with measures to achieve further permeation of commitment to sustainability.

For a detailed discussion, please refer to “Social.”

External Evaluation and Expansion of Disclosure

Status of Adoption by GPIF ESG Indexes

HOYA has been selected as a constituent of the following ESG indexes adopted by the Government Pension Investment Fund (GPIF) of Japan.

  • FTSE Blossom Japan Sector Relative Index (general index)


  • 2023 CONSTITUENT MSCI JAPAN EMPOWERING WOMEN INDEX (WIN) (thematic index: social initiatives)

  • S&P/JPX Carbon Efficient Index (thematic index: environmental protection)


HOYA has also been selected for inclusion in the following

  • MSCI ESG Leaders Indexes

  • MSCI Japan Climate Change Index

  • iSTOXX MUTB Japan Platinum Career 150 Index


Main ESG Rating Status

  • MSCI ESG rating: AAA (highest of seven ratings, upgraded from A in previous evaluation)

  • Sustainalytics ESG risk rating: Low Risk

Main ESG Rating Status

  • Selected by GPIF’s external asset managers for “excellent integrated report”

  • Certified by the Ministry of Economy, Trade and Industry (METI) as an outstanding health and productivity management organization for seven consecutive years

  • R&I rating: AA

  • Selected as one of the Most Honored Companies in the Electronics/Precision Instruments sector in Institutional Investor magazine’s 2023 All-Japan Executive Team rankings as of June 30, 2023