Evaluation by society

Pigeon Corporation has been selected as a constituent of the MSCI Japan ESG Select Leaders Index, which is used by the General Pension Investment Fund (GPIF) for ESG (Environmental, Social and Governance) investment. With this selection, the Company has been selected as a constituent*1 of all ESG indices adopted by the GPIF.

Disclaimer

^{THE INCLUSION OF Pigeon Corporation IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT OR PROMOTION OF Pigeon Corporation BY MSCI OR ANY OF ITS AFFILIATES.
THE MSCI INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI. MSCI AND THE MSCI INDEX NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI OR ITS AFFILIATES.}

MSCI Japan ESG Select Leaders Index

The Index reflects the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices, and has been adopted as a passive management benchmark for ESG investment by the General Pension Investment Fund (GPIF). The Pigeon Group has been selected as a constituent of this index since 2022.

FTSE Russell (the trading name of FTSE International Limited and Frank Russell Company) confirms that Pigeon Corporation has been independently assessed according to the index criteria, and has satisfied the requirements to become a constituent of the FTSE Blossom Japan Index. The FTSE Blossom Japan Index is used by a wide variety of market participants to create and assess responsible investment funds and other products.

FTSE Blossom Japan Index 

The Index reflects the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices in their respective sectors, and has been adopted as a passive management benchmark for ESG investment by the General Pension Investment Fund (GPIF). The Pigeon Group has been selected as a constituent of this index since 2022.

FTSE Russell (the trading name of FTSE International Limited and Frank Russell Company) confirms that Pigeon Corporation has been independently assessed according to the index criteria, and has satisfied the requirements to become a constituent of the FTSE Blossom Japan Sector Relative Index. The FTSE Blossom Japan Sector Relative Index is used by a wide variety of market participants to create and assess responsible investment funds and other products.

FTSE Blossom Japan Sector Relative Index 

An index published by US-based MSCI Inc. One of the ESG indices selected by Japan’s Government Pension Investment Fund (GPIF), this index selects companies from the 700 top companies on Japanese stock markets by total share value (MSCI Japan IMI Top 700 Index) that boast the most outstanding records in terms of empowerment of women. The Pigeon Group has been selected as a constituent of this index since 2009.

_{THE INCLUSION OF PIGEON CORPORATION IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT OR PROMOTION OF PIGEON CORPORATION BY MSCI OR ANY OF ITS AFFILIATES. THE MSCI INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI. MSCI AND THE MSCI INDEX NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI OR ITS AFFILIATES.}

MSCI Japan Empowering Women Select Index 

Built with the data and scoring methodology of Equileap*, "GenDi J" is designed to emphasize the stocks of companies that have strong gender diversity policies embedded in their corporate culture and that ensure equal opportunities to employees, irrespective of their gender. Companies are divided into five equally sized groups based on their Gender Equality Score. Pigeon Corporation is in Group 1, the highest tier of "GenDi J".

In addition, the Government Pension Investment Fund (GPIF), one of the world's largest public pension fund, has newly adopted "GenDi J" as an ESG index for domestic equities.

Morningstar, Inc., and/or one of its affiliated companies (individually and collectively, "Morningstar") has authorized Pigeon Corporation to use of the Morningstar Japan ex-REIT Gender Diversity Tilt Logo ("Logo") toreflect the fact that, for the designated ranking year, Pigeon Corporation ranks in the top quintile of companies comprising the Morningstar® Japan ex-REIT Gender Diversity Tilt Index℠ ("Index") on the issue of gender diversity in the workplace. Morningstar is making the Logo available for use by Pigeon Corporation solely for informational purposes. Pigeon Corporation use of the Logo should not be construed as an endorsement by Morningstar of Pigeon Corporation or as a recommendation, offer or solicitation to purchase, sell or underwrite any security associated with Pigeon Corporation. The Index is designed to reflect gender diversity in the workplace in Japan, but Morningstar does not guarantee the accuracy, completeness or timeliness of the Index or any data included in it. Morningstar makes no express or implied warranties regarding the Index or the Logo, and expressly disclaim all warranties of merchantability or fitness for a particular purpose or use with respect to the Index, any data included in it or the Logo. Without limiting any of the foregoing, in no event shall Morningstar or any of its third party content providers have any liability for any damages (whether direct or indirect), arising from any party's use or reliance on the Index or the Logo, even if Morningstar is notified of the possibility of such damages. The Morningstar name, Index name and the Logo are the trademarks or services marks of Morningstar, Inc. Past performance is no guarantee of future results.

* Equileap: Headquartered in Amsterdam, Equileap is the leading provider of data and insights on gender equality in the corporate sector.

Morningstar Japan ex-REIT Gender Diversity Tilt Index

One of the ESG indices selected by the GPIF, the S&P/JPX Carbon Efficient Index adopts TOPIX, a key index of share-price trends on Japanese markets, as its universe and weights the shares with emphasis on status of environmental disclosure and standards of carbon-efficiency. The Pigeon Group has been selected as a constituent of this index since 2020.

S&P/JPX Carbon Efficient Index 

First company to receive an "AA" rating in the MSCI* ESG Ratings for 2024.

The MSCI ESG Ratings are a global evaluation index for ESG investment, based on research and analysis of corporate environmental, social, and governance (ESG) initiatives, with ratings ranging from AAA, the highest rank, to CCC on a seven-point scale.

*MSCI (Morgan Stanley Capital International) is a financial services company headquartered in New York, USA. It is listed on the New York Stock Exchange and provides a wide range of services to institutional investors around the world, including the calculation of stock price indices and portfolio analysis.

MSCI website

THE USE BY PIGEON CORPORATION OF ANY MSCI ESG RESEARCH LLC OR ITS AFFILIATES (“MSCI”) DATA, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT, RECOMMENDATION, OR PROMOTION OF PIGEON CORPORATION BY MSCI.  MSCI SERVICES AND DATA ARE THE PROPERTY OF MSCI OR ITS INFORMATION PROVIDERS, AND ARE PROVIDED ‘AS-IS’ AND WITHOUT WARRANTY.  MSCI NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI.

CDP is a non-profit organization whose purpose is to promote environmental measures by supporting companies and local governments to disclose information regarding measures to address environmental impacts such as climate change, water resource protection, and forest conservation, based on requests from institutional investors and others who are highly concerned about environmental issues. 

We have been reporting to CDP’s Climate Change program since FY2022, and have obtained a "B" rating for the disclosure and activities of Climate Change in 2023.

CDP

Our Response to CDP's Climate Change Program 2024

The Nikkei 500 Stock Average is comprised of 500 stocks selected from domestic common stocks in the Prime Market of the Tokyo Stock Exchange. The Pigeon Group has been selected as a constituent of this index since 2022.

Nikkei 500 Stock Average 

This index managed by Sompo Asset Management Co., Ltd. is composed of approximately 300 companies with outstanding ESG-related initiatives, and used for the company's "SOMPO Sustainable Investment" product.
Launched in August 2012, "SOMPO Sustainable Investment" is a responsible investment product for pension funds and institutional investors that invests in a wide range of companies with high ESG evaluation. It aims to contribute to the asset building of long term investors through the assessment of corporate value from a long-term perspective by revealing management quality and hidden risks that are not shown in financial statements.

SOMPO Sustainable Investment(Japanese) 

We are proud to announce that we received the "Award of Excellence" at the 3rd Nikkei Integrated Reporting Awards sponsored by Nikkei Inc.

The purpose of this award system is to enhance and disseminate integrated reports. Fund managers, analysts, and academic experts from financial institutions actually read integrated reports, which are then rigorously reviewed according to the stipulated items.

We will continue to actively utilize the Integrated Report as a tool for promoting dialogue with all stakeholders, and will strive to further enhance its initiatives and contents to create value over the medium to long term.

Integrated Report 2022 (year of issue 2023)

Selected for the Excellence Award at the 3rd Nikkei Integrated Reporting Awards

“Nikkei Integrated Reporting Award", Nikkei Inc.

Pigeon received an Encouragement Award for its "Lesson for Learning About Babies - For a Baby-Friendly Future" at the 2023 Awards for Companies Promoting Youth Experiential Activities sponsored by the Ministry of Education, Culture, Sports, Science and Technology . As part of its efforts to encourage society as a whole to think and act in order to realize a baby-friendly future, Pigeon provides educational materials to junior high school students throughout Japan for an educational program entitled "A Lesson to Know About Babies: For a Baby-Friendly Future . By the end of December 2023, approximately 27,000 junior high school students had taken this class . In addition to providing free educational materials for teachers to conduct the classes, Pigeon employees visited some junior high schools to provide opportunities for students to learn more about babies and families by holding baby dolls, wearing maternity jackets, push strollers, and more.

Special page for the “E-taiken” award for companies promoting hands-on activities for young people　（Japanese）

 “Lesson for Learning About Babies: For a Baby-Friendly Future”

For donations to Hitachi-Omiya City, Ibaraki Prefecture, through the “Corporate Version of Furusato Tax Payment”, we received the Medal with Dark Blue Ribbon* for the three fiscal years 2024, 2023, and 2022. Since 1986, we have been conducting a tree-planting campaign in Hitachi-Omiya City, Ibaraki Prefecture, in commemoration of the birth of a baby. In support of activities to create a safe and comfortable environment for raising children in Hitachi-Omiya City, Ibaraki Prefecture, we made a donation to support the city's marriage, childbirth, and child-rearing support program over the three-year period from 2021 to 2023. As a result, we have received the award every year from 2022 to 2024.

*The Medal of Honour with Dark Blue Ribbon is awarded by the Cabinet Office to individuals who donate at least ¥5 million, or corporations that donate at least ¥10 million, for the public good.

Pigeon received the "Director-General's Award" in the category of "Contribution to the fulfillment of the public interest functions of forests" in the "Forest x Decarbonization Challenge 2022" sponsored by the Forestry Agency. Pigeon has been conducting the "Newborn Baby Commemorative Tree-Planting Campaign" since 1986, planting trees in national and private forests in Hitachi-Omiya City, Ibaraki Prefecture and continues to manage the forests after the trees are planted. The company's efforts to protect rare vegetation and conserve biodiversity by planting broadleaf trees in forests that were originally mainly coniferous, and by maintaining a biotope in the forest, were highly evaluated . The company was also certified as a "Green Partner 2022," which contributes to decarbonization through forest maintenance. The amount of CO2 absorbed per year by the forests developed during 2020 and 2021 was 40t-CO2/year. The total annual CO2 absorption of the trees planted through this campaign amounted to 507t-CO2/year.

Forests x Decarbonization Challenge 2022

Campaign for Commemorating the Birth of Newborn Babies

We received a Consumer-Oriented Activity Commendation at the 7th ACAP Consumer-Oriented Activity Awards, hosted by the Association of Consumer Affars Professionals (ACAP). This commendation recognizes praiseworthy behavior from businesses or other organizations that promotes or contributes to consumer-oriented management.

Pigeon operates the Tiny Birth Cry Support Project (Pigeon Corporation) to support preterm babies, low birthweight babies, and other babies needing specialist care due to illness or physical condition, along with their families. 

Key Reasons for Commendation: Pigeon uses its insight and network cultivated over many years as strengths in pursuing initiatives of high social value and public benefit that are worthy of praise. 

7th ACAP Consumer-Oriented Activity Awards ( in Japanese)

We received the Minister of State Commendation at the 2021 Selection of Consumer-Oriented Companies for Best Practice held by Japan’s Consumer Affairs Agency. The Selection of Consumer-Oriented Companies for Best Practice recognizes corporations that declare a commitment to consumer-oriented management and undertake superior initiatives based on that declaration.

We were recognized for our proactive measures to solve social issues, such as actively collecting consumer needs and opinions through tens of thousands of questionnaires and more than 250 monitoring surveys per year to develop products with differentiation from other companies and such as establishing a Human Milk Bank in our headquarters to raise awareness and usage of human milk banking in order to protect the lives of very low birthweight infants.  

Pigeon’s Consumer-Oriented Declaration (in Japanese) 

We have been selected as a Winner Company at the "Corporate Governance of the Year* 2021" : an award that supports companies that have achieved and maintained healthy medium- and long-term growth by implementing good corporate governance, held by the Japan Association of Corporate Directors (JACD).

We were recognized for our PVA (Pigeon Value Added: our unique EVA) with an awareness of Cost of Capital management, the concrete basis for CEO dismissal, and the fact that we are proactively incorporating the knowledge of outside directors as a pioneer of ”Board 3.0."

Corporate Governance of the Year* 2021

* “Corporate Governance of the Year” is a registered trademark of the Japan Association of Corporate Directors.

Pigeon Corporation received the Forbes JAPAN WOMEN AWARD 2021 (Corporate Category: 300 to 1,000 employees), which recognizes companies that have created diverse and comfortable workplaces through the "true success of women".

Forbes JAPAN WOMEN AWARD 2021

In 2020 a new category, the SDGs category, was created out of the existing ESG Investment category of the Tokyo Financial Awards, honoring companies (including financial firms) that practice SDGs-oriented management. The Pigeon Group received the award for its support for promotion of Human Milk Bank, an effort made possible by the Group’s unique knowledge set and network.

Tokyo Financial Award

Pigeon has been recognized for its superior health and productivity management under the Certified Health & Productivity Management Outstanding Organizations Recognition Program run jointly by the Ministry of Economy, Trade and Industry (METI) and the Nippon Kenko Kaigi as a “Health & Productivity Management Outstanding Organization 2024 (Large Enterprise Category).” This is the third consecutive year that our company has been certified.
The Certified Health & Productivity Management Outstanding Organizations Recognition Program honors the achievements of large corporations and SMEs who achieve particular excellence in health management based on initiatives addressing regional health needs and health promotion initiatives promoted by the Nippon Kenko Kaigi.

Occupational Health Management (Pigeon Corporation)

Eruboshi certification is a system under which the Minister of Health, Labour and Welfare certifies companies that meet certain standards and have excellent performance in promotion of women’s active engagement, based on the Act on the Promotion of Women’s Active Engagement in Professional Life.
In terms of the performance of its activities to promote women’s active engagement, the company met all of the five criteria set forth by the Ministry of Health, Labor and Welfare, including "Recruitment," "Continuous employment," "Working style (working hours, etc.)," "Ratio of female managers" and "Diverse career courses," and received the third stage certification, the highest level of Eruboshi .

Eruboshi and PlatinumEruboshi Certification in recognition of the Promotion of Women’s Active Engagement in Professional Life

Pigeon has been recognized for its superior health and productivity management under the Certified Health & Productivity Management Outstanding Organizations Recognition Program run jointly by the Ministry of Economy, Trade and Industry (METI) and the Nippon Kenko Kaigi as a “Health & Productivity Management Outstanding Organization 2023 (Large Enterprise Category).” This marks the second year running we have received this recognition under the program.
The Certified Health & Productivity Management Outstanding Organizations Recognition Program honors the achievements of large corporations and SMEs who achieve particular excellence in health management based on initiatives addressing regional health needs and health promotion initiatives promoted by the Nippon Kenko Kaigi.

Occupational Health Management (Pigeon Corporation)

Pigeon has been recognized for its superior health and productivity management under the Certified Health & Productivity Management Outstanding Organizations Recognition Program run jointly by the Ministry of Economy, Trade and Industry (METI) and the Nippon Kenko Kaigi as a “Health & Productivity Management Outstanding Organization 2023 (Large Enterprise Category).”
The Certified Health & Productivity Management Outstanding Organizations Recognition Program honors the achievements of large corporations and SMEs who achieve particular excellence in health management based on initiatives addressing regional health needs and health promotion initiatives promoted by the Nippon Kenko Kaigi.

The 2022 Certified Health & Productivity Management Outstanding Organizations Recognition Program

Occupational Health Management (Pigeon Corporation)

In 2007 the Pigeon Group was awarded the Kurumin logo, recognizing the Group’s certification as “a company that supports child-rearing.” In 2018 the Group was recognized with the Platinum Kurumin logo, honoring its achievements, even among certified Kurumin recipients, in introducing systems that support work-life balance and promoting their use, as well as the superior level of its efforts.

Platinum Kurumin