Develop and Disseminate Innovative Products, Technologies, and Business Models
Contribute to sustainable development of society by striving to develop and disseminate innovative products, technologoes, and business models that help solve social issues, through collaboration of various people and organization inside and outside the Group.
The Kurita Group Approach
The Kurita Group considers that industrial development and global environmental conservation must go hand in hand to ensure that humanity can continue to lead affluent lives. We aim to contribute to sustainable development of society by striving to develop and disseminate innovative products, technologies, and business models that help solve social issues, through collaborations of various people and organizations inside and outside the Group.
Contribution to Achieving the SDGs
Promotion and Governance System
The Kurita Group has defined “Develop and disseminate innovative products, technologies, and business models” as one of its materialities, and the Sustainability Committee chaired by the Executive General Manager of the Sustainability Division, a Corporate Officer of the Company, oversees and promotes the Group’s initiatives. The Sustainability Committee discusses or reports on the status of the initiatives to the Executive Committee, and the Executive Committee deliberates and decides on necessary measures. Additionally, the Executive Committee reports on the status of initiatives to the Board of Directors, which oversees initiatives related to materialities.
Targets and Results
The Kurita Group is committed to developing and disseminating innovative products, technologies, and business models by setting targets related to investment rate in innovation areas*, rate of the number of themes in innovation areas, and number of stakeholder engagements related to innovation areas. Targets and results for this materiality are shown as below.
- This refers to the "innovation area" in Deloitte 7cells℠ (Deloitte's approach to formulating growth strategies).
| Metrics | Targets（Upper row） and Results（Lower row） | |||
|---|---|---|---|---|
| FY2024 | FY2025 * | FY2026 | FY2028 | |
| Investment Rate in Innovation Areas | 15% | 20% | 25% | 30% |
| Achieved （18%） |
||||
| Rate of the Number of Themes in Innovation Areas | 20% | 23% | 30% | 30% |
| Achieved （22%） |
||||
| Number of stakeholder engagements related to innovation areas |
Meet or exceed the previous year | Meet or exceed the previous year | Meet or exceed the previous year | Meet or exceed the previous year |
| Achieved | ||||
- The targets for fiscal 2025 were reviewed by the Sustainability Committee, and decided by the Executive Committee.
Evaluation of Results and Outline of Activities
Investment Rate in Innovation Areas
The Kurita Group has set targets for investment rate in innovative areas to ensure that the development of products, technologies, and business models that fall into innovation areas defined in Deloitte 7cells℠ (Deloitte's approach to formulating growth strategies).
In fiscal 2024, we achieved our target of 15% at 18%.
Rate of the Number of Themes in Innovation Areas
The Kurita Group has set targets for the rate of the number of themes in innovation areas for development of products, technologies, and business models that fall under the innovation areas defined in Deloitte 7cells℠ (Deloitte's approach to formulating growth strategies).
In fiscal 2024, we achieved our target of 20% at 22%.
Number of Stakeholder Engagements Related to Innovation Areas
The Kurita Group aims to continuously increase the number of stakeholder engagements related to innovation areas with the goal of understanding stakeholders' expectations and concerns during the development phase in order to promote innovative products, technologies, and business models. In fiscal 2024, the number of stakeholder engagements related to innovation areas was higher than previous year, achieving the target.
Innovation areas in Deloitte 7cells℠ (Deloitte's approach to formulating growth strategies)
For other initiatives related to the development and dissemination of innovative products, technologies, and business models, please see the below.