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JFE Standards of Business Conduct (excerpt)

(1) Provide quality products and services

Earn the trust and regard of customers by endeavoring to provide safe, high-quality products and services based on superior technology, and by fully respecting and protecting the privacy of personal and customer information.

Quality Initiatives

The JFE Group manages quality by ensuring compliance with quality standards set by each operating company. All manufacturing sites that require ISO 9001 certification of their quality management have been duly certified.

Fair Competition and Trade

Compliant purchasing and procurement activities are critical to becoming a good business partner and nurturing the understanding and trust of suppliers. Each JFE operating company clearly defines its purchasing and procurement policies, and discloses them to suppliers to encourage them to maintain the same high standards.

JFE Steel

Basic Policy on Procurement and Raw Materials Purchasing Policy

JFE Steel upholds its Basic Policy on Procurement to conduct purchasing activities with fairness and sincerity and thereby continue earning supplier trust as a good business partner.


JFE Steel: Purchasing and Procurement Policies (Japanese only)


JFE Steel Corporation has established a Raw Materials Purchasing Policy and operates a sustainable procurement system for sourcing raw materials based on the company’s commitment to respecting human rights, complying with all laws and regulations, and protecting the environment.


JFE Steel Corporation also purchases raw materials which are proven to be not conflict minerals.


JFE Steel:Raw Materials Purchasing Policy

JFE Engineering

Fair and Sincere Procurement

JFE Engineering, viewing its suppliers as key partners in achieving mutual growth, strives to nurture mutual trust and reinforce partnership relationships. The company collaborates with suppliers on CSR initiatives and upholds its Purchasing and Procurement Policies as a standard for fair and transparent procurement activities.


JFE Engineering: Purchasing and Procurement Policies (Japanese only)


JFE Shoji Trade

Ensuring a Safe, Fair Supply Chain

Corporate social responsibility (CSR) is a pivotal element in JFE Shoji Trade’s supply chain for the provision of products, functions and services through its global business. Customer demand for CSR-based procurement is increasing every year. In addition to existing initiatives for quality, stable supply, safety and reasonable prices, the company is enhancing support for the global environment, human rights and occupational safety and health.

Shareholders and Investors

JFE Standards of Business Conduct (excerpt)

(2) Be open to society at large

Endeavor to communicate with shareholders and the broader community and actively disclose corporate information.

Returns to Shareholders

JFE Holdings positions returns on shareholder investment as one of its top priorities. Profits are basically returned in the form of dividends. The company’s basic policy under its Fifth Mediumterm Business Plan is to maintain its payout ratio at between 25% and 30% based on an improved financial standing, revenue and cash flow resulting from investments to strengthen the domestic revenue base and increase income from overseas businesses.

Proactive Information Disclosure

JFE Holdings strives for fair disclosure based on established internal policy. The company actively communicates with investors by holding meetings when announcing financial results, medium-term business plans or other important information. The president explains the announced results and answers questions at investor meetings, and he also holds small-group briefing sessions and conducts individual interviews with institutional investors and securities analysts. In addition, managers regularly visit investors in Japan and overseas, including institutional investors in North America and Europe. For individual investors, briefings are held at the branch offices of securities firms around Japan. The company also distributes e-mails regarding IR


information. Important press releases and Notices of the Ordinary General Meeting of Shareholders are provided in English for overseas investors.


isclosure Policy Information for Shareholders and Investors

Japanese: https://www.jfe-holdings.co.jp/investor

English: https://www.jfe-holdings.co.jp/en/investor

Enhancing Communication with Shareholders

JFE Holdings created its Investor Relations and Corporate Communications Department in April 2015 to facilitate more interactive communication with diverse stakeholders. The collection and dissemination of integrated information is being enhanced to provide management with more useful information for constructive dialogues with shareholders, including individual investors as well as domestic and foreign institutional investors.


General meetings of shareholders are opportunities for dialogue with shareholders, so JFE sends invitations at the earliest possible date to maximize attendance and avoid overlapping with the shareholder meetings of other companies.

Enhancing Communication with Shareholders

For shareholders who are unable to attend, the company allows online voting in addition to providing normal proxy forms. Since FY2015, invitations have been posted on the company website at the earliest possible date.


Also, plant tours and company briefing sessions are organized to foster shareholder understanding of JFE.

Local Communities

JFE Standards of Business Conduct (excerpt)

(3) Coordinate and cooperate with the community

Actively contribute to the community as a good corporate citizen in the spirit of coordination and cooperation.

Local Activities

Every year, JFE opens its manufacturing facilities to residents in local host communities for demonstrations, tours and other events.

JFE West Japan Festival in Fukuyama

JFE West Japan Festival in Fukuyama

In addition, on-site recreational facilities are made available for community sports such as soccer, baseball, volleyball and basketball as well as other JFEsponsored events. Coaching sessions are offered by company baseball and track teams, which compete in Japan’s top-level corporate leagues. Such activities promote sports and health as well as stronger relationships with host communities.


JFE Steel East Japan Works conducts plant tours for students at nearby elementary schools. In addition, company employees visit schools to give lectures on steelmaking processes, the features of steelworks, environmental initiatives and other topics to deepen understanding of the steel industry.

JFE 21st Century Foundation

The JFE 21st Century Foundation was founded in 1990 through a donation from the JFE Group (the former Kawasaki Steel) to operate as a public-service corporation that contributes to society. It engages in various public services, such as supporting research at universities and cultural development.


JFE 21st Century Foundation

Employees

JFE Group’s Basic Policy on Human Resource Management

1. Respect Human Rights and Facilitate Fair Management of Human Resources

The Group manages human resources fairly by respecting the human rights of all employees and nurturing employees who embrace the Group’s corporate values and standards of business conduct.


2. Foster a Corporate Culture that Nurtures People and Promotes Satisfying Workplaces

The Group facilitates interactive communication among employees to cultivate a corporate culture that nurtures human resources and creates safe, attractive environments where everyone can enjoy working.


3. Diversify Human Resources

The Group ensures that diverse all people, including women, non-Japanese, the elderly and the disabled, can demonstrate their full potential.


4. Recruit and Steadily Nurture Excellent Human Resources

To survive in an increasingly complicated and diversified global environment, the Group steadily recruits diverse, high-quality skilled human resources, ensures that they receive the skills and knowledge necessary to continue strengthening the Group’s technological capabilities, and nurtures their global capabilities.

JFE Group Health Declaration

1. JFE, recognizing that safety and health are fundamental for fulfilling its mission, creates workplaces in which every employee can work with vigor.


2. JFE and its health insurance union work together to advance initiatives for maintaining and upgrading the physical and mental health of employees and their families.


3. JFE gives top priority to safety and health and to creating a health culture in which each employee takes personal responsibility.

Respecting Human Rights

In response to the International Bill of Human Rights, the Universal Declaration of Human Rights, the International Covenant on Human Rights, and other international conventions, the JFE Group views respect for human rights as both a corporate social responsibility and a foundation of its business. To enhance awareness of human rights, we established the JFE Group Human Rights Promotion Council chaired by the corporate officer in charge of general administration. The Council reports to the JFE Group Compliance Committee, which is chaired by the president of JFE Holdings. This framework allows us to define Group-wide policies and share information with departments responsible for human rights issues that have been set up at each operating company. In FY2018, we established the JFE Group Human Rights Basic Policy to undertake a range of initiatives in line with the United Nations Guiding Principles on Business and Human Rights and we are working to raise awareness of human rights among all employees. Specific examples include implementation of human rights training courses, guaranteed employment opportunities and promotion of fair human-resource management, and the prevention of workplace harassment. Harassment of a sexual or power nature, or on any other basis, is prevented through measures including company regulations, training, workplace posters and hotlines staffed by men and women at each business location. In addition, during the annual Human Rights Week, leaflets with messages from senior management are distributed and employees are encouraged to submit slogans. Furthermore, we actively support and take part in initiatives undertaken by human rights organizations, such as the Industrial Federation for Human Rights, Tokyo and the Corporate Federation for Dowa and Human Rights Issue, Osaka. By attending seminars and workshops of such organizations, we have become increasingly aware of human rights trends and challenges as well as issues specific to Japanese business. In turn, we apply use this knowledge in JFE human-rights-awareness training programs and related initiatives. In line with the ongoing globalization of the Group’s business in recent years, these training programs now cover corporate responsibility for respecting human rights to meet the expectations of global society.


Human Rights Basic Policy

Workforce Diversity

By designating workforce diversity as a key business objective, the JFE Group is promoting efforts to maximize the potential of employees regardless of gender, nationality, creed, lifestyle or family background.


Diversify Human Resources

Attracting and retaining diverse talent

JFE recruits new employees in a steady manner to support the group’s sustainable growth. Recruitment sources are purposefully diversified, including women and non-Japanese people as well as mid-career hires and people available outside of Japan’s normal recruitment season.

For more details regarding our recruitment track record and employees, please refer to the JFE Group CSR Report. In addition to regular full-time employees, we had 182 temporary workers working for JFE Steel Corporation (1% of total), 649 working for JFE Engineering Corporation (17%) and 18 working for JFE Shoji Trade Corporation (2%) as of April 2018. The full-time employee turnover in FY2017 was 2.03% at JFE Steel, 0.94% at JFE Engineering, and 2.1% at JFE Shoji Trade.

Human Resource Development and Skill Transfer

JFE supports the professional development of employees, the transfer of skills to new generations, and the development of competitive talent in line with overseas business expansion. We offer on-the-job training in each workplace as well as a wide range of training programs to help employees gain needed knowledge and skills systematically, including training for selected personnel, level-specific training and optional training. Training programs for junior personnel are focused on acquiring business skills and practical knowledge, whereas training programs for managers cover broader topics ranging from basic management skills (such as dealing with harassment based on case studies and managing working hours) to business management and supervisory skills development.

Employee Health and Safety

Providing for the health and safety of employees is a basic requirement of companies, particularly manufacturers, and is fundamental to the continued existence of any company. JFE adheres to the fundamental philosophy of safety first and works to consistently maintain safe working environments and secure workplaces for all employees as well as those of business partners.

JFE Steel is implementing a company-wide "Zero Serious Workplace Accident" campaign and a "Zero Workplace Accident" campaign in each workplace as health and safety goals in 2019. Specific initiatives are managed by the Central Health and Safety Committee, which is chaired by the officer responsible for safety issues, regularly provides reports to the Board of Directors, and therefore is overseen by the Board.

The Central Health and Safety Committee, whose members include labor union officials and representatives from each workplace, organize meetings at all business locations. Meetings between management, including the officer responsible for safety, and labor union officials are regularly organized to exchange views and ideas. Through management-labor dialog, JFE works to provide safer work environments, encourage employees to remain highly safety-conscious and create highly safety-oriented workplaces.

Safety Track Record

  Number of lost-time
injuries
Lost-time injury
frequency(LTIFR)1
Total recordable injury
frequency rate(TRIFR)2
JFE Steel
employees
Employees
of business
associates
JFE Steel Industry
average3
JFE Steel Industry
average
FY2016 6(1 death) 16(1 death) 0.21 0.28 0.15 0.24
FY2017 4(1 death) 14(1 death) 0.17 0.29 0.15 0.14
FY20184 6(1 death) 9(1 death) 0.15 0.16

1 Number of lost-time injuries / number of hours worked × 1,000,000

2 Number of working days lost / number of hours worked × 1,000

3 Based on data from Japan Iron and Steel Federation members

4 Data available up to end November

Employee Health

JFE collaborates with its health insurance union and industrial health staff to strengthen employee health so that everyone can work with vigor.

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