Sustainability
Social
Our policies and initiatives for society are introduced here.
Human Rights Policy and the Promotion of Diversity
We formulated a Human Rights Policy in February 2021 to fulfill our responsibility of respecting the human rights of all people involved in our business operations. We support the Universal Declaration of Human Rights and other international norms on human rights, and we will pursue initiatives to promote respect for human rights.
Furthermore, as a means of increasing diversity, we have positive action initiatives in place to support the active participation of women.
Human Rights Policy
- Support for international norms and guidelines
We support international norms on human rights, including the Universal Declaration of Human Rights, the Declaration on Basic Principles and Rights in Labor of the International Labor Organization (ILO), and the United Nations Global Compact. In addition, we respect human rights in accordance with the United Nations’ Guiding Principles on Business and Human Rights.
Furthermore, the parent company ITOCHU Corporation’s Itochu Group Human Rights Policy applies to all officers and employees of IRM. - Non-complicity in human rights violations
We endeavor not to violate human rights ourselves or be complicit in human rights violations by others. - Respect for freedom of association and collective bargaining rights
We respect the freedom of association and the right to collective bargaining in accordance with relevant laws and regulations, and we do not engage in illegal or improper discrimination in employment and occupation. - Elimination of forced labor
We strive to eliminate and prevent all forms of forced labor at IRM and in our supply chain. - Effective abolition of child labor
We support and practice the effective abolition of child labor from IRM and our supply chain. We do not hire children who are not above the legal minimum working age. - Elimination of discrimination in employment and occupation
We do not treat people differently or disadvantage them based on characteristics that are irrelevant to their capabilities or specific job requirements. Those characteristics include ethnicity, skin tone, gender, religion, political views, nationality (country of birth), social origin, age, disability, HIV infection/AIDS, trade union membership, and sexual orientation.
Human Resource Strategy
Based on the awareness that the stable growth of each investment corporation and investment fund is dependent on our personnel, we are pursuing a human resource strategy with the aims of enabling people to unleash their full potential and of achieving overall human resource optimization.
Specifically, we have established a personnel evaluation system that defines the perspectives as well as the competencies and skills required for each level of work.This system enables us to hire, train, assign, and promote highly competent personnel. To help employees realize their potential and develop their career, we have established a system through which they can indicate their career path intentions, leading to the optimal assignment of employees.
* In accordance with the Act on Investment Trusts and Investment Corporations, the investment corporations whose assets IRM manages are prohibited from hiring employees, and therefore outsource operations including asset management, custody, and administration.
Employee capacity building
As part of our employee capacity building efforts, we offer various career development programs, support for obtaining academic degrees and certifications, and training.
* Only full-time employees are eligible for career development programs and for regular performance appraisals and feedback, while both full-time and contract employees are eligible for support programs and financial aid for obtaining academic degrees and certifications.
Career development
As part of our employee capacity building efforts, we offer various training programs as well as opportunities for skills and career development.
In addition to a job rotation program, we have a system for employees to indicate their desired career path once a year and discuss it with their superior. Moreover, each new hire is assigned a senior employee as an instructor, and in addition, a separate employee to act as a mentor who can be consulted on work and other various matters.
Performance appraisals and feedback process
Our personnel evaluation system consists of “performance evaluation,” which evaluates the degree of achievement of the employee's business goals, and “behavioral evaluation,” which evaluates the performance required for each grade and position.
We hold target management interviews three times a year at the beginning of the fiscal year (target setting), during the fiscal year (review), and at the end of the fiscal year (evaluation feedback) to establish a transparent target setting system with good communication between supervisors and subordinates, and an evaluation system to support employees in achieving their goals, expanding results, and growing.
Fixed salaries and bonuses are determined based on evaluations, and bonuses are partially linked to the investment performance of each investment corporation and fund under management. In addition, through individual interviews, feedback on evaluations and dialogue on individual career development are provided to help formulate human resource strategies.
Support and financial aid for acquiring certifications
We have a system in place to subsidize the cost of acquiring qualifications in order to improve work performance and acquire specialized knowledge. All executives and employees (including contract employees) are eligible for this program. (Examples of certifications eligible for financial aid: real estate transaction agent, ARES certified master, securities analyst, certified building administrator,First-Class Architect)
Employees with professional certification
| Certification | Number of people certified |
|---|---|
| Real Estate Transaction Agent | 61 |
| ARES Certified Master | 36 |
| Certified Building Administrator | 6 |
| First-Class Architect | 4 |
| Lawyer | 1 |
| real estate appraiser | 1 |
| Securities Analyst | 4 |
| Certified Public Accountant | 2 |
| U.S. CPA | 1 |
| Labor and Social Security Attorney | 1 |
| Certified Internal Auditor | 1 |
Professional development and training programs
We have set up a wide range of training programs and self-development support systems matched to job levels and other factors.
Examples of Training Courses
Training for new managers
Participants acquire knowledge and skills essential for leaders, such as management, trust building, team building, human resource development, and labor management. Utilizing an external organization, participants practice at their workplaces, reflect on their experiences, and receive advice from external lecturers to enhance their practical skills.
Next Generation Business Leader Training
To fFoster a sense of management as a mid-level employee. To rRecognize the role required of them as the core of the organization, based on their own strengths and weaknesses.
Step-up Training
To improve communication skills, learn the key points of work arrangement, task management, visualization of business, etc., and improve business skills.
Follow-up training for young employees
A course for young employees to consider and design their own careers and learn the ability to set issues and grasp the essence of issues in order to step up to mid-level employees.
Line Care Training
To understand the mechanism of mental health problems and acquire skills to prevent them for the primary prevention of mental health problems, and to understand the key points to create a healthy workplace.
Team Building Training
To correctly redefine the role expected of a team leader, learn key points for building a better team, and increase the perspective and awareness of team-related issues in the workplace.
Life Planning Training
Veteran employees take stock of their own careers and skills, and use their abilities to further their activities and career planning.
Managers
| Category | Overview | Executive/Managers | Hours/people |
|---|---|---|---|
| New officer training | Responsibility and role recognition required of officers | no applicable employees | － |
| ESG Training for Executives | Training for executives to deepen their knowledge on ESG issues |
6 | 1 |
| Manager training | Training of future executives、Line Care Training | 35 | 7 |
| Multifaceted Evaluation Training （Target: Department heads and above） |
15 | 5 |
* FY2023 actual results
General employees
| Category | Overview | General employees |
Hours/people |
|---|---|---|---|
| Future manager training | Management training | no applicable employees | － |
* FY2023 actual results
General training ・ Self-improvement
| Category | Overview | Executive /Managers |
General employees |
Non-regular employees |
Hours/people |
|---|---|---|---|---|---|
| Next generation Business leader training | Leadership training | － | no applicable employees | － | － |
| Fourth-year training | Training for fourth-year employees | － | 2 | － | 17.5 |
| Second-year training | Training for Second-year employees | － | no applicable employees | － | － |
| Instructor training | Training for appointees as instructors of new hires | － | no applicable employees | － | － |
| New hire training | Basic training for new graduate hires (ITOCHU Group) |
－ | no applicable employees | － | － |
| Bookkeeping training | Training on basic bookkeeping knowledge for new hires | － | no applicable employees | － | － |
| Training on office machinery | Training for new hires and some junior employees | － | no applicable employees | － | － |
| Compliance training and exams | Comprehensive compliance training (For all officers and employees Apart from training, compliance exams are conducted.) |
－ | Cumulative total: 295 | － | － |
| Crisis Management Public Relations Training | Training to strengthen media response skills in the event of a crisis |
9 | 1 | － | 3.5 |
| Sustainability training and exams | Training aimed at raising the awareness of officers and employees | 46 | 40 | 14 | － |
| Life Plan Training | Life planning and career design training for employees over 50 years old | － | no applicable employees | － | － |
| Cafeteria-style training |
Training provided by the ITOCHU Group. |
－ | 2 | － | － |
| Subscription-based training | A video learning platform that allows employees to study business-focused, carefully selected programs regardless of time or location. Employees can learn at their own discretion. | All employees | － | － | |
| Support for certification |
System of financial aid toward the costs of acquiring certification to improve business execution skills and gain expertise |
11 | 6 | － | － |
| Language learning support | System of financial aid for part of the costs of language classes to improve language skills required for business | 2 | 4 | － | － |
| Mentor system | System of support by senior employees (expenses borne by company) |
－ | no applicable employees | － | － |
| Career path reporting system | System for employees to indicate career path intentions | － | 34 | － | － |
| Company-wide online health program | Online stretching and yoga instruction for increased physical activity and improved health under the COVID-19 pandemic. | 49 | 34 | 16 | Conducted more than once |
* FY2023 actual results
Employee Benefits, Work-Life Balance, Health and Productivity Management
We are pursuing the following initiatives covering all full-time and contract employees to enhance our employee benefits system and ensure that employees can achieve a good balance between work and personal life.
To enable employees to flexibly adapt their work styles to accommodate the requirements of each stage of life and the way they want to relate to their community, we have established a childcare leave system and a shortened working hour system, and a nursing care leave system for employees with elderly parents, etc. In addition, a special leave system has been established to support childcare, to promote employee healthcare and volunteer activities, as well as an hourly paid leave system to make it easier to utilise paid leave.
In addition, we practice health and productivity management to promote efforts that enable our personnel and their families to maintain and improve their health in mind and body.
Health and productivity management
We established the Health and Productivity Management Policy and declared that we will advance efforts towards the maintenance and improvement of employees’ and their families’ physical and mental health.
Declaration of Health and Productivity Management
We believe that the physical and mental health of our employees and their families is the most important factor in realizing our corporate philosophy and management policies. We will continue to actively promote health management, emphasizing the creation of a comfortable work environment and the maintenance and promotion of employee health.
April,2023
ITOCHU REIT Management Co., Ltd.
Junichi Shoji
- Recognize health issues at the beginning of each fiscal year, set specific goals (plans and numerical targets) based on health issues, verify the results at the end of the fiscal year, and implement the "PDCA (Plan-Do-Check-Act) cycle of health management" to achieve further improvements in the new fiscal year.
- Enhancement of work-life balance (harmony between work and life)
- Ensure 100% of employees receive regular health checkups, encourage family members (dependents) to receive checkups, and prevent serious illnesses (improve the rate of retests and full examinations).
- Mental health measures (implementation of stress checks, group analysis, and mental health training)
- Measures to prevent overwork
- Measures to prevent infectious diseases
- Measures to prevent passive smoking
- Promotion of communication to vitalize the workplace
- Support for balancing work and medical treatment
- Improvement of health literacy (setting up educational opportunities for managers or employees)
- Efforts to maintain and promote women's health (addressing health issues specific to women)
- Efforts to improve dietary habits and promote exercise opportunities
- Initiatives to provide opportunities for specific health guidance
Health and productivity management-related certifications acquired
- Certified Health & Productivity Management Outstanding Organization
- Gold Certification from the Tokyo Association of the National Federation of Health Insurance Societies as a company with superior health programs
Major Initiatives for Health Management
【Promotion of health management and strengthening of prevention】
- Receiving regular health checkups is the first step in health promotion. In addition to aiming to have 100% of employees undergo periodic health checkups, we recommend that all employees with findings undergo medical examinations and checkups at hospitals.
- We also provide health literacy education opportunities by holding company-wide health seminars and self-care training programs for employees to promote their mental and physical health.
- To ensure that employees can receive vaccinations with peace of mind, we treat vaccination time as work time and provide a prescribed number of days off (with pay) for adverse reactions after vaccinations. In addition, employees are granted leave (with pay) to accompany their family members for vaccinations.
【Promotion of Mental Health in the Workplace】
- In addition to establishing a mental health promotion plan for the prevention and early detection of mental health problems, the Company recommends employees to undergo stress checks for primary prevention, and utilizes the results of the organizational diagnosis in workplace development efforts.
- To support employees returning to work after a leave of absence due to mental health problems, we have prepared a guidebook and are promoting functional cooperation with related parties.
Employee investment unit ownership program
We have established an investment unit ownership program for investing in units of the investment corporation whose assets we manage (Advance Residence Investment Corporation). The aim is to further align the interests of our employees with those of the investment corporations’ unitholders and to expand employee benefits.
Childcare leave, shortened work hours for childcare, nursing leave
To assist employees in balancing work and childcare, we offer childcare leave that can be taken until the child turns two, and shortened work hours for childcare that can be taken until the child enters elementary school. In addition, we treat nursing leave taken to care for sick or injured until children graduation from elementary school as paid leave.
Caregiver leave, shortened work hours for caregivers, caregiver absence
To assist employees in balancing work and caregiving, we offer caregiving leave, shortened work hours for caregivers, and caregiver absence.
Special leave system
We have a system that allows employees to take up to five days of leave per year, in addition to paid leave. This leave system can be used for participation in community contribution activities and social welfare activities, childcare support such as the birth of a spouse or other family member or participation in a child's school events, and healthcare purposes such as periodic health checkups and explanations of the results and secondary examinations.
Hourly paid leave
Each year, employees may take paid leave by the hour for up to five days’ worth of hours (40 hours).
Telecommuting and flextime systems
We have introduced telecommuting and flextime systems to realize diverse work styles and promote efficient operations.
Continued employment
We have set the retirement age at 60, but eligible employees may choose to be reemployed as a commissioned employee under a renewable annual contract.
Congratulatory and condolence money
We provide congratulatory benefits for employees’ marriages and childbirths, and we also have a system of providing condolence money in preparation of loss of family members.
Cafeteria-style benefits package
The cafeteria-style benefits package offers employees preferential rates for the unlimited use of a broad range of services provided by various partners, such as hotels, fitness clubs, and childcare providers. The objective is to support employees in balancing work and family life, and in improving their health.
Company trips
To promote friendly relations among our employees, as a general rule we organize annual company trips. The trips provide the opportunity for employees to get to know each other better while spending time together in a setting outside of the office. They also have a major positive impact on work as well.
Recreational clubs
We have recreational clubs so that employees can build friendships, and we provide financial support for club activities.(Activities have been cancelled since FY2020 due to the COVID-19 pandemic.)
Company gatherings
The organization of social gatherings, walking events and various communication events deepens the friendship between employees. By promoting good health and fostering communication between employees in various departments, company-wide morale is enhanced.
Periodic monitoring of employee satisfaction
To be a company where employees can work with pride and satisfaction, we conduct employee satisfaction surveys and apply the results to such efforts as improving the workplace environment.
【Results conducted in FY2024】
Surveyed: Directors and Full-time employees
Response rate: 91.7
Wellbeing （ Initiatives for health and comfort ）
Office Environment development
IRM has developed its office environment so that each and every officer and employee can work comfortably, and in April 2023, a major layout change was made to expand the shared space in the office.
Expansion of internal meeting spaces
Meeting space has been expanded to stimulate communication between employees. Not only team meetings, but also cross-departmental exchanges have become more active.
Employee interaction in communication spaces
A communication space has been set up in the office. Employees are free to use the communication space for internal meetings and lunches, and it provides a place for interaction.
Individual booths
From the perspective of promoting in-house DX, individual booths are set up for online meetings and telephone conferences. They are well received within the company as they allow employees to concentrate on their work.
Creation of magnetic spaces
Free coffee servers, water servers, multifunctional machines and other equipment that can be shared by employees are located together, creating a magnet space where people naturally gather. Communication across departmental boundaries takes place not only during breaks but also at work.
Creating a workplace environment that is easy for women to work in
In order to create a workplace environment that is easy for women to work in, our company has endorsed the “Laurier in Workplace” project run by Kao Corporation's sanitary napkin brand “Laurier”, and has implemented the provision of sanitary napkins.
'Laurier in Workplace' is an initiative by Kao Corporation to create a more comfortable working environment for women by providing sanitary napkins in company offices and other places of work.
Click here for more information about 'Laurier in Workplace'(Japanese Only) >
https://www.kao.co.jp/laurier/project/shokuba/
Key Human Resource Data
Coverage: Full-time employees and contract employees
| Category | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 |
|---|---|---|---|---|---|---|
| Employees*1 (No. of people) | 59 | 62 | 64 | 67 | 78 |
79 |
| Males (No. of people) | 49 | 52 | 52 | 55 | 62 | 60 |
| Females (No. of people) | 10 | 10 | 12 | 12 | 16 | 19 |
| Percentage of females (Percent) | 16.9% | 16.1% | 18.8% | 17.9% | 20.5% | 24.1％ |
| Average years of service (No. of years) | 8 yrs 1 mths |
8 yrs 1 mths |
8 yrs 5 mths |
8 yrs 8 mths |
8 yrs 3 mths |
8 yrs 7 mths |
| Males (No. of years) | 8 yrs 3 mths |
8 yrs 1 mths |
8 yrs 7 mths |
8 yrs 11 mths |
8yrs 6 mths |
9yrs 2 mths |
| Females (No. of years) | 7 yrs 6 mths |
8 yrs 2 mths |
7 yrs 10 mths |
7 yrs 7 mths |
7 yrs 2 mths |
6 yrs 11mths |
| No. of new hires (No. of people) | 2 | 6 | 6 | 6 | 2 | 4 |
| Males (No. of people) | 2 | 5 | 4 | 5 | 1 | 1 |
| Females (No. of people) | 0 | 1 | 2 | 1 | 1 | 3 |
| Turnover*2(Percent) | 3.4% | 8.1% | 6.3% | 3.0% | 5.1% | 5.1％ |
Notes:
1. Number of employees as of March 31 .Information is before the asset management company merger on June 1, 2022, and therefore does not include the number of employees of the former ITOCHU REIT Management Co.,Ltd.
2. Turnover is calculated by dividing the number of employees that left IRM during the fiscal year by the number of employees as of March 31. Additionally, there were no workforce reductions due to corporate mergers or acquisitions involving restructuring, or for other reasons during the fiscal years listed above. Also,and the same applies to the merger between asset management companies on June 1, 2022.
Workstyle Reforms ・ Diversity
| Workstyle Reforms/Diversity | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 |
|---|---|---|---|---|---|---|
| Average overtime (Length of time) | 17 hrs 31 min |
20 hrs 35 min |
23 hrs 46 min |
20 hrs 41 min |
26 hrs 16 min |
25 hrs 58 min |
| Paid leave acquisition rate (Percent) | 79.9% | 68.4% | 68.2% | 59.8% | 67.9% | 70.1％ |
| Share of female executives (Percent) | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0％ |
| Share of female managers (Percent) | 0.0% | 3.7% | 6.3% | 11.4% | 10.3% | 14.0％ |
| Users of childcare leave system (No. of people) | 1 | 1 | 1 | 1 | 1 | 0 |
| Users of shortened work hours for childcare (No. of people) | 2 | 1 | 1 | 0 | 1 | 1 |
| Users of nursing leave (Whole) | 76.5% | 78.6% | 66.7% | 50.0% | 83.3% | 90.9% |
| Users of nursing leave (Percent of males) | 69.2％ | 72.7％ | 58.3％ | 45.5％ | 77.8% | 87.5％ |
| Users of nursing leave (Percent of females) | 100.0％ | 100.0％ | 100.0％ | 100.0％ | 100.0% | 100.0％ |
| Users of special leave (No. of people) *2 | 7 | 3 | 0 | 1 | 0 | 13 |
＊1 FY2023 Actual results
＊2 As part of our efforts to enhance work-life balance, we are expanding the use of the following.
～FY2022 For Volunteers
FY2023 In addition to the above, childcare (from 4/1) and health care related (from 3/1) were added.
Employee Health and Safety
| Employee Health and Safety | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 |
|---|---|---|---|---|---|---|
| Annual medical exam taken (Percent) | 100% | 100% | 100% | 100% | 100% | 100% |
| Occupational accident frequency rate*3 (Percent) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
3. Occupational accident frequency rate is calculated as follows: number of fatalities and injuries due to accidents ÷ cumulative work hours x 1 million hours.
For details, please refer to the following Ministry of Health, Labour and Welfare site (in Japanese).
Making Social Contributions to Local Communities
Participation in Famima Food Drive
In cooperation with FamilyMart Co Ltd, an ITOCHU Group company, employees participate in the Famima Food Drive as part of their social contribution activities and donate food products.
*About 'Famima Food Drive'...
This is an initiative in which households bring in uneaten food to FamilyMart shops and provide it to those in need through cooperating partners such as local authorities and NPOs. Through the Famima Food Drive initiative, uneaten food from the home is utilised, leading to a reduction in food loss. In addition, by using FamilyMart shops nationwide as collection points, local residents can easily participate in social contribution activities.
Find out more about Famima Food Drive（Japanese Only）＞
Famima Food Drive | Sustainability | Family Mart(family.co.jp)
Various food items, including instant foods and confectionery, are collected from employees each time.
*Note: FamilyMart does not normally accept food items on a company-by-company basis.
≪Donation of food at FamilyMart Co., Ltd. ≫
Regular cleaning of areas around office buildings
As members of the community, our employees carry out cleanup activities in surrounding neighborhoods.
Participation in the 2023 Kanda Festival
As part of our commitment to the local community, we made a donation to the 2023 Kanda Festival held from May 11th to 17th, and contributed to local events and community revitalization.
The Kanda Festival is one of the three major festivals in Japan and is held once every two years in May at the Kanda Myojin Shrine in Chiyoda-ku,Tokyo
Disaster Support
In the event of a major natural disaster, we provide disaster relief by donating funds to help affected areas recover as quickly as possible.
In the past, we have donated funds for emergency relief activities in the aftermath of the Great East Japan Earthquake and the Kumamoto Earthquake. In the 2024 Noto Peninsula Earthquake, which occurred on 1 January, we donated relief funds to the Japan Platform [Specified Nonprofit Corporation].
In addition, we are calling for employee volunteer activities and employee fund-raising.
Supporting the social participation of people with disabilities
To provide motivating and rewarding workplaces to people with physical and mental disabilities, ITOCHU Corporation established ITOCHU Uneedus Co., Ltd. in 1987 as a special subsidiary.
We support ITOCHU Uneedus by placing orders to them for IRM’s business cards and envelopes.
Further information can be found here (in Japanese).
Support for the ITOCHU Foundation
Established in 1974, the ITOCHU Foundation has continuously engaged in activities to contribute to society with the objective of fostering the healthy development of children. It is currently focused on two projects supporting children’s healthy growth: subsidizing the development of children’s literature collections and promoting the spread of e-books.
We support the foundation by participating in its donation collection campaigns.
Further information can be found here (in Japanese).
Other Efforts
Achievements in Providing Assistance to Students
With the aim of providing a opportunity for many students studying architecture and design to engage in activities and support them, and to encourage students to become interested in our company and the REIT industry, we invited students to participate in a competition for ideas to renovate the "RESIDIA" rental housing that we operate. Renovations based on the designs of the best entries were actually carried out.
