Stakeholder Engagement
Basic Concept
The MOL Group sets "Stakeholder Engagement" as an initiative regarding sustainability issues (materiality) "Human & Community-Contribute to the growth and development of people and communities," aiming to enhance dialogue with vital stakeholders and reflect their concerns in our business.
With that aim, the group develops business activities in line with social needs by expanding opportunities for dialogues, mainly with our stakeholders listed below, and making use of the valuable insights gained through dialogues in our business management. And then, through these efforts, we will contribute to solving various social issues.
| Main stakeholders | Responsibility fulfilled by MOL | Main dialogue methods (frequency)*1 |
|---|---|---|
| Shareholders/ investors | We expand corporate value by sustainable growth and return appropriate profit. We disclose financial and non-financial corporate information in a fair and equitable manner, through a wide variety of communication methods, so it can be properly evaluated by our shareholders and investors. |
Annual General Meeting of Shareholders (once a year), financial results briefing sessions (4 times a year), IR meetings in Japan and overseas (about 200 times/year), SR meetings (about 20 times/year), business performance briefing sessions/ ESG briefing sessions for individual investors (several times/year) Small gatherings with president (general version: 4 times/year, ESG version: once a year) Small gatherings with outside directors (planned for FY2022) Various reports (Securities Report, Corporate Governance Report, MOL Report, Investor Guidebook, etc.) (once a year) |
| Customers | We comply with laws and international rules, make relentless efforts to improve our technological capabilities, and offer high-quality, environmentally conscious services. We provide necessary information for customers in a timely and appropriate manner, and strive to improve services and build sustainable value chains for our customers, based on requests we receive from them. |
Business activities (routine) Web site, SNS (routine) MOL Service Website/Inquiry desk (routine) Ship visits (Cargo handling tours etc.) (anytime) Customer satisfaction surveys (as scheduled) Various seminars/exhibitions (as scheduled) |
| Business partners | We procure in consideration of fair trade, legal compliance, the environment, human rights, safety, and so on, and build sustainable value chains. In asking our business partners for their cooperation in the MOL Group's initiatives, we strive to expand communication methods with them to further deepen our partnerships. |
Shipowners meeting (once a year) Safe operation liaison meeting with shipowners (once a year) Agency/stevedore meetings (one-twice a year) Safe operation campaign (once a year) Various seminars/exhibitions (as scheduled) |
| Employees/ Seafarers | We strive to develop workplace environment in consideration of industrial safety and health and human right, and cultivate corporate culture that every employee and seafarer can fully demonstrate their capabilities and play active roles. We lead to growth of both company and them, by providing opportunities of diverse education and challenge, and exchanging opinions about direction of management for all employees and seafarers. |
Personnel evaluation meeting (4 times/year) Corporate culture assessment (every other year) Labor-management consultation (any time) Advisory service desks (any time) In-house magazines (printed, web site, etc.) (any time) Business performance/management workshop (4 times/year) Dialogue between management and employees (more than 10 times/year) Seafarer Family Day (once a year) Safety Conference (3 times/year) |
| Administrative organs | We fulfill obligations as good corporate citizen for legal compliance and tax payment, and contribute to smooth administrative operation and development of maritime industry. We make deeper understandings of policies and measures through opportunities to exchange opinions with countries and local government to reflect them to our business activities in an appropriate manner, and proactively continue to involve in formulation of transport policies, which contribute to reduction of the environmental impact and sustainable growth. |
Exchange opinions with government offices and local governments (any time) Cooperate for various surveys and questionnaires (any time) |
| Local communities/ NGOs | As a globally growing corporate group, we strive on sustainable growth and promotion of local communities in which the MOL Group involves. We provide opportunities for two-way communication with communities and NGOs to promote businesses and social contribution activities that meet their needs. |
NGO roundtable (once a year) Social contribution activities in Mauritius (full year) Beach cleanup activity (several times a year) Cargo loading/terminal tour (as scheduled) Accept students' workplace visit, event to introduce business (any time) Send instructors to lectures and training programs (any time) |
*1 Currently, some of our activities are suspended or held online in consideration of the need to prevent COVID-19 infection.
Examples of initiatives
Communication with shareholders and investors
IR meeting/SR meeting
MOL holds IR meeting with investors and analysts about 200 times a year, and SR/engagement meetings with persons of our major shareholders in charge of investment about 20 times a year. At about 25% of those meetings, management (the president or CFO) participate in meetings to make dialogue. We also hold IR meetings overseas where the management themselves hold direct dialogue with investors-about twice a year in Asia and Europe. Based on opinions from investors and shareholders, we carry forward shifting to management, which weighs more on capital cost and cash flow, review measures for shareholders return, eliminate parent-child listing, reduce cross-shareholdings, and so on.
We are also working to enhance disclosure along with shareholders' opinions, such as disclosure along with TCFD and disclosure of skill matrix.
Communication with customers
Web marketing
MOL opened "MOL Service Web site" as a part of web marketing for customers, sending information on our group services. We have also received inquiries about transport and accompanying services from customers in Japan and overseas, via SNS and newsletter we regularly stream. Besides business talks, we also receive requests writing for academic journals, or feedbacks about interesting initiatives and projects of our group. Thus, this is an opportunity for our business partners to recognize MOL as "trusted partner."
Communication with business partners
Shipowners' meeting
MOL holds "Shipowners' meeting" annually as a place of dialogue and social gathering.
In FY2021, we held it online and provided a lecture (content was related to our response to the environmental issues), and also introduced our initiatives on safe operation using ICT and current status in Mauritius (local situation since a year passed from the Wakashio grounding incident).
We received an impression from participants for the lecture: "You explained that the environmental problem is urgent issue, in a very understandable way." They also focused their interest on "remote ship inspection" and "ship inspection app," which were introduced as our initiatives on safe operation using ICT. In addition, we received comments such as "Your initiatives on the environmental protection and support in Mauritius are great" and "I could understand the states and hardships in Mauritius very well." We also received a positive opinion "I will make more efforts on the environmental issue and safety."
Communication with employees and seafarers
Business performance/management workshop
MOL quarterly holds a workshop for executives and employees to explain the business environment and performance, and management policy for fiscal year.
At the workshop, we explain details of business environment and performance and also explain results of questionnaire to executives and employees. We also explain focus field and business we picked up based on the times at every workshop.
In addition, this workshop is an opportunity that employees can directly communicate with management including the president. The president himself frankly answers questions and comments from employees.
Labor-management negotiation
Through proactive dialogue with labor unions (at sea/on land), MOL engages in workstyle reforms, childcare support, reduction of overtime work, provision of good benefits for employees, and so on. At the labor-management council for reduction of overtime works, the union (on land) had a proposition to reduce maximum number of overtime work hours, and we reached to reduce the number of hours through discussion between labor and management.
In addition, we deepened discussions about the way of the telework system in anticipation of post COVID-19, through dialogue between labor and management, and expanded the system from FY2022. We are committed to maximize "job satisfaction" and "comfortable working environment" and develop an environment that employees and the company together continue to grow.
Safety Conference
Every year, MOL holds "One MOL Safety Conference" in the group's major seafarer supply countries, Japan, the Philippines, Croatia, India, and Russia. At the conference, we exchange opinions with seafarers allocated on our operated vessels, through reviewing efforts on safe operation and incidents and accidents, under the participation of management including MOL Chairman and President.
The FY2021 conference was held online due to the COVID-19 pandemic and our seafarers delivered their comments about desire to share information such on the company's future policy and vision, desire to hold the conference face to face, and so on.
Based on their comments, we produced the content, which seafarers can share the company's overall vision and plan, etc., and made DVD of the content. In addition, in the past conferences, there were opinions and requests regarding the residential area improvement plan to be implemented in the future newbuilding vessels. To realize comfortable quarter for seafarers, we brought opinions that we collected, to the conference about improvement of the quarter, trying to realize to improve higher engagement.
Communication with local communities and NGOs
2nd NGO roundtable
In September 2021, inviting eight experts from NGOs and NPOs, MOL held a roundtable meeting with the theme of MOL's initiatives on the environment.
From experts, we were objectively evaluated, receiving some praise as well as points to improve about the environmental assessment we implemented and our activities towards promotion of the blue economy in Mauritius. We also received some advice about reinforcement of supply chain management from a viewpoint of preventing reoccurrence of the incident. Furthermore, we exchanged opinions about the MOL Group's "Environmental Vision 2.1," and they pointed out our weaknesses in understanding and analyzing risks to the marine environment.
Based on their opinions, we have upgraded disclosure about our initiatives in Mauritius on our website. In March 2022, we also revised "MOL Group Basic Procurement Policy" to reinforce supply chain management and newly established the "MOL Group Supplier Procurement Guidelines." We continually seek out opinions from experts in local communities and NGOs and make every effort to reflect them in our business.
For other initiatives on local communities, please browse Social Contribution Activities.
For activities in Mauritius, please browse MOL's Action towards the Wakashio Incident (Environmental Recovery and Social Contribution).