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View Sumitomo Corporation's Sustainability : Our People
The Group defines its ideal employee (individual) and company (organization) within the Global HR Management Policy, and aims for “Enriching lives and the world” by building relationships in which individuals and the organization grow together. Based on Sumitomo’s Business Philosophy underlying the Group’s talents, we are working to upgrade the HR management cycle. Specifically, we are creating a work environment and workplace culture that serves as the foundation for each and every employee to demonstrate their abilities and potential, and implementing various measures and systems from the perspectives of recruitment, development, right talent to the right positions, performance management, and fair treatment. At the same time, following the concepts of expanding the pool of Top-Tier Professionals, implementing thorough “Pay for Job, Pay for Performance,” promotion of diversity, equity and inclusion, and enhancing people management skills, we provide a place where each and every employee can realize autonomous growth and self-realization and encourage them to take on new challenges for value creation. Through this cycle, we are maximizing the performance of the organization and our diverse workforce, thereby realizing our vision and creating new value for the Group. Furthermore, important HR management policies, strategies, and measures are discussed at meetings of the Management Council. The Board of Directors makes decisions on important directions and conducts supervises and monitors these policies accordingly.
Sumitomo Corporation established the Sumitomo Corporation Group "Global HR Management Policy". This policy sets forth the vision and concept of talent management on a global basis with the aim of achieving talent management for the creation of new value. It is used as the foundation for each HR initiative.
The Sumitomo Corporation Group, through our "Global HR Management Policy", presents a vision for global talent management.
With this as the foundation of all our HR initiatives, we will implement HR management to foster an environment that creates new value.
The Sumitomo Corporation Group aims to be a group of individuals “creating new value on a global scale, sharing SC Group’s vision and mission, and maintaining high aspirations and a continuous intrinsic motivation with Enterprising Spirit”.
The Sumitomo Corporation Group aims to build a “Great Place to Work” on a global scale, where individuals continuously and passionately create new value.
We aim to be an organization recognized for nurturing talents that continuously take on new challenges throughout the world.
The Sumitomo Corporation Group recognizes Diversity, Equity & Inclusion as "the core enabler for value creation, innovation and competitiveness", eliminating any barriers, and pursuing the realization of our shared vision, by leveraging our mix of diverse wisdom.
The Mindset that Sumitomo Corporation Group values in HR management.
To realize business growth strategy.
To be responsive to different needs in various businesses, regions, and markets, and to provide flexibility.
To treat and reward individuals in a fair manner, with "medium and long-term perspective" and "objectivity".
To continue highly transparent operations understood by individuals from different backgrounds, so we can elevate our collective understanding.
To value individual responsibility, commitment, and accountability.
To convey your own thoughts to another with respect while drawing out the other person’s views so as to build a bridge of understanding.
To comply with local laws, as well as governance systems and agreements.
The Sumitomo Corporation Group continuously endeavors to be attractive to diverse talents. In recruitment, we value the sharing of core values, regardless of one’s background or any dimension of diversity.
The Sumitomo Corporation Group values the fundamental significance of "talent development".
We encourage individuals to grow proactively by continuously learning with a heightened sense of awareness.
The Sumitomo Corporation Group pursues transparent and fair evaluation for each contribution to organizational growth and value enhancement, thereby connecting the performance management process to the growth of both individuals and organizations.
The Sumitomo Corporation Group draws out the full potential of individuals rich with diversity. Through a Talent Review and Succession Planning mechanism, we deploy the right talents to the right positions according to our business strategy.
The Sumitomo Corporation Group, while bearing in mind Total Rewards, spotlights and respects different promoters of value creation and pursues fair treatment.
The Sumitomo Corporation Group provides a safe, healthy and sound work environment.
We create a workplace culture that provides psychological safety and encourages growth of individuals and trustworthy relationships.
All members of the Sumitomo Corporation Group assume the ownership and responsibility to execute this "Global HR Management Policy".
Based on this policy, we seek to increase talent throughout the Group who can create new value on a global scale, sharing the Group’s vision and mission, and maintaining high aspirations and a continuous intrinsic motivation with Enterprising Spirit. We also aim to build a “Great Place to Work” on a global scale, where individuals continuously and passionately create new value. We aim to be an organization recognized for nurturing talent that continuously take on new challenges throughout the world.
As a company that engages in global business, Sumitomo Corporation Group requires talents who are attuned to our businesses and principles, have high aspirations and a continuous intrinsic motivation with Enterprising Spirit, and a willingness to create new value on a global scale. Our basic policy is to conduct fair and equitable recruitment that respects fundamental human rights without discrimination, and hires employees based on the professionalism, abilities, experience, potential, and aspirations of applicants regardless of nationality, gender, age and other attributes. We actively hire both new graduates and mid-career hires throughout the year, in line alignment with our management and business strategies.
(Unit: persons)
| FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | ||
|---|---|---|---|---|---|---|---|
| New graduates(※1) | 209 | 154 | 106 | 101 | 100 | 99 | |
| Male | 118 | 102 | 75 | 72 | 63 | 62 | |
| Female | 91 | 52 | 31 | 29 | 37 | 37 | |
| Mid-career(※1) | 35 | 27 | 20 | 75 | 88 | - | |
| Male | 27 | 24 | 14 | 47 | 68 | - | |
| Female | 8 | 3 | 6 | 28 | 20 | - | |
| Ratio of mid-career hires (*2) | 14% | 15% | 16% | 43% | 47% | - | |
*Updated on May 1, 2024
We hold various seminars relating to recruitment and create opportunities to support the career development of post and undergraduate students.
We offer internships to university and graduate students every year to have them experience the business of an integrated trading company and to provide an opportunity to support the development of their career views. In FY2023, we conducted three internship programs relating to our business. The first program was a business experience program based on our renewable energy project. The second program, a business creating program on beyond mobility business, allowed participants to experience the process of creating a new business with design thinking skills. The third program was based on our cosmetic business, allowing participants to realize the significance of an integrated trading company engaging in the business. Participants can experience the process of bringing a business into reality, and through this process also develop their career views as well as deepen an understanding of our own way of the new value creation process.
〈Number of Past Participants〉
FY2020: 164 / FY2021: 148 / FY2022: 230 / FY2023: 319
The business environment surrounding us is changing rapidly. In order to survive the competition in this age of tremendous changes, we need to take on the challenge of doing business in new fields while expanding and advancing our existing businesses. To respond to these business needs, in line with our business strategy, we recruit mid-career professionals with diverse expertise and knowledge. Our mid-career hires have a wide range of backgrounds and include lawyers, public accountants, and those with other qualifications, as well as people with experience in the manufacturing, finance, media, IT, and other industries. These professionals from various fields are making use of their respective expertise for the benefit of our company.
Sumitomo Corporation recruits mid-career hires not only for their expertise and knowledge. We expect these talents who have diverse backgrounds, to revitalize the company and organizations with their ways of thinking, work methods, out-of-the-box ideas, values, and help us enhance our competitive strength. Sumitomo Corporation will continue to promote mid-career recruitment along with the employment of new graduates for the retention of a diverse workforce.
For the Sumitomo Corporation Group, human capital is our most critical management capital. Our Global HR Management Policy, established in 2020, articulates our vision for individuals as those who “create new value on a global scale, sharing SC Group’s vision and mission, and maintaining high aspirations and a continuous intrinsic motivation with Enterprising Spirit”. To realize this vision, the most crucial aspect is for each individual to "enhance their globally competitive capabilities (i.e., expertise)." To develop such a "group of Top Tier professionals," it is essential to integrate On-the-Job Training (OJT) with Off-the-Job Training (OFF-JT). By engaging in "reflection and review" of successes and failures in their work, as well as "generalizing and conceptualizing" their experiences, individuals can acquire the necessary skills and knowledge to undertake more advanced assignments.
Our company organizes approximately 200 OFF-JT training sessions annually under the Sumisho Business College (SBC). We provide an environment where individuals can proactively acquire the knowledge and skills required in their respective fields. We believe it is vital to develop talent based on each person's career perspective, experience, aptitude, and challenges. Thus, we offer "career development training" to enhance and maximize the professionalism of our employees. We also focus on strengthening "people management skills," as well as "Diversity, Equity & Inclusion," to foster organizational and individual growth.
In addition, we continue to offer long-term, selective programs that provide the knowledge and skills necessary for business management. Many of our participants, upon completing these programs, assume leadership roles in domestic and international business operations. We also leverage high-level external training opportunities, such as overseas executive programs, to further enhance our talent development efforts.
And starting from fiscal year 2024, we have introduced the e-learning platform “LinkedIn Learning” company-wide. This initiative aims to provide equitable self-learning opportunities regardless of location or working conditions, fostering a self-initiated learning culture within the company and supporting each employee's autonomous growth and career development.
| SBC Training | Training Conducted by Business Units (excluding SBC Training) | Total | |
|---|---|---|---|
| Number of sessions (per year) | 195 sessions | 868 sessions | 1,063 sessions |
| Total number of participants (non - consolidated) | 5,442 people | 35,088 people | 40,530 people |
| Total training hours (non - consolidated) | 44,623 hours | 61,982 hours | 106,605 hours |
| Average number of training courses taken per employee (non - consolidated) | 1.1 sessions | 7.0 sessions | 8.1 sessions |
| Hours of training per employee (non - consolidated) | 8.9 hours | 12.3 hours | 21.2 hours |
In our long-term selective programs, we aim to cultivate a comprehensive understanding of management, facilitate self-reform, and develop practical leadership skills—objectives that are challenging to achieve through short-term programs. Each training session is designed to select individuals who are currently excelling in their fields or are anticipated to become future leaders. These programs are dedicated to fostering and advancing the development of "Top Tier professionals" across diverse fields.
This program is designed for individuals at the managerial to senior managerial level, who are expected to assume future leadership positions and are anticipated to develop a company-wide management perspective. Through dialogue with top management and members from various industries, participants will receive insights and external stimuli from executives and industry leaders. The program aims to help them gain awareness of the broad strategic perspective, thinking, and commitment essential for executives. Approximately 30 participants will engage in the program over a six-month period, which includes around 30 days of sessions. They will conceptualize Sumitomo Corporation’s management strategy and present action plans as leaders towards their envisioned goals.
This program is designed for employees who are expected to gain experience in strategic planning from the perspective of SBU heads or division managers, as future executives. Through various case studies, participants will repeatedly engage in simulated executive experiences to develop their strategic vision, decision-making abilities, and leadership skills. Additionally, by visiting the Besshi Copper Mine and participating in leadership philosophy sessions, participants will solidify their personal theories and worldview regarding management and organizational talent, thereby fostering their own management perspectives. Approximately 25 participants will take part in this program, which spans about 10 months and includes approximately 20 lectures. Upon completion, participants will deliver presentations on the theme of "The Desired Vision as the Head of an SBU/Division/Key Business Unit Ten Years from Now."
We sponsor employees who are expected to become future executive candidates within their respective organizations to participate in executive programs at business schools both domestically and internationally. The objectives of these programs include cultivating an awareness and mindset suitable for future executives, acquiring comprehensive management knowledge and decision-making skills, and gaining insights through interactions with professionals and executives from other companies. Each year, we send over 30 participants to domestic business schools and consistently send more than 10 participants to top-tier business schools abroad.
In our selective programs, we offer over 80 different programs that cover a broad range of knowledge and skills, from foundational to advanced levels, necessary for thriving as a management professional who can contribute to society through business. Initially, participants are required to complete the "Introduction" and "Fundamentals" courses to acquire the standard skills expected of a trading company professional. Following this, they have the freedom to select and enroll in programs that provide the specific knowledge and skills needed for their roles from among the available options. Our programs are designed to be accessible regardless of the participant’s current department or responsibilities, supporting employees who are committed to continuous learning through comprehensive training opportunities.
At the time of promotion, we conduct tiered training programs to provide understanding of internal systems and literacy required to drive business forward. From new employees to senior management, these training sessions aim to help individuals recognize the expectations and roles pertinent to each level, serving as a catalyst for behavioral change. Additionally, we offer tiered training programs for our group companies. These programs emphasize the cultivation of leadership that contributes to society through business and provide participants with insights to facilitate their autonomous self-development.
The Instructor System and Newcomer Supporter System are important initial training programs to develop new employees into full-fledged member of society and Sumitomo Corporation employee.
We provide on-the-job training to help new employees start their first experience as a member of society smoothly (explanation of job duties and basic behavior as a member of society), comprehensive education, values to have as a Sumitomo Corporation employee, and the transmission of the organization's work culture, etc. to foster a mindset that will be the foundation for growth as a Sumitomo Corporation employee.
In FY 2022, we introduced the New Employee Supporter System with the aim of supporting new employees in their working environment. The newcomer supporter is a senior employee who stands a little apart from the new employee and provides support and training through periodic one-on-one interviews. We aim to develop our talents throughout the organization in cooperation with supervisors and instructors.
| Instructor | New Employee Supporter | |
|---|---|---|
| Requirement | P1 (AP possible) | |
| Term | 1 year | |
* AP: Advanced Professional, P1: Professional 1
* Supervisor, as "Promoter," provide guidance from a higher perspective and create an
organization-wide environment to guide and develop new employee.
As a global business group, the Sumitomo Corporation Group offers many intern programs to develop our talents who can work effectively around the world.
These include a trainee program designed to develop talent who can play an active role on the global stage, a language training program that develops language and regional specialists, an overseas study program primarily for acquisition of an MBA, a venture intern program designed to foster individual strengths in domestic startups, and a global intern program that focuses on business in emerging countries.
Each year, 80 to 100 trainees in these training programs are dispatched to different regions of the world, including Japan.
As a global organization contributing broadly to society, the Sumitomo Corporation Group holds management principles that place prime importance on integrity and sound management with utmost respect for the individual. Based on this principle, the Group developed the “Human Rights Policy” and the “CSR Action Guidelines for Supply Chain Management” that take into consideration human rights and other various issues. We will respect human rights to take our social responsibility and pursue sustainable growth with society.
To this end, we have created the Human Rights and Dowa Issues Promotion Committee, which facilitates discussions on human rights issues such as discrimination against marginalized communities, persons with disabilities, foreign residents, and online human rights violations at various organizational levels annually. Additionally, we conduct annual "Human Rights Training" with external speakers to further raise awareness of human rights issues.
Moreover, we distribute e-learning content on the impact of corporate activities on human rights and the responsibility of companies to respect human rights, enhancing internal awareness efforts. We also conduct training on mental health and talent management. Our tiered training programs for management include content on harassment prevention, and we provide education and awareness on creating environments free from harassment and handling any incidents that may arise, ensuring a workplace free from human rights violations.
Sumitomo's Business Philosophy stresses the need for an enterprising spirit to stay a step ahead in dealing with change, while ascribing importance to maintaining integrity and sound management, avoiding easy gains, and working for the public interest, without being misled by short-term immediate changes. This philosophy has continuously formed the basis of Sumitomo Corporation Group's business for more than 400 years. With the aim of experiencing and assimilating Sumitomo’s Business Philosophy, which is the basis of the Group’s Management Principles, we conduct training annually at Besshi Copper Mine in Niihama City, Ehime Prefecture (Trainings in FY2020 and FY2021 were cancelled due to the spread of COVID-19). The Besshi Copper Mine continued to produce copper for approximately 280 years from its opening in 1691 to its closure in 1973 and supported the foundation of Sumitomo's business. The visit of this mine is an opportunity to reconfirm the role that the Sumitomo Corporation Group should play in society. Also, all employees learn the history of Besshi Copper Mine upon joining the company.
The Sumitomo Corporation Group also attributes importance to talents’ development at Group companies in and outside Japan. We make use of the development know-how gained at Sumitomo Corporation to provide Group companies with training programs suitable for them. These programs also provide participants with opportunities for interpersonal exchange and to build great networks.
We provide national staff of our overseas bases and Group companies with level-specific training in English, with a view to helping them achieve growth.
We invite locally hired employees from across the world to the Head Office in Tokyo to speak to them about the Sumitomo Corporation Group’s philosophy and strategies and help them acquire business skills such as cross-cultural leadership. Through this training they can develop a sense of unity and improve their skills as members of the Group.
*FY 2020~2022 conducted online
Targeting Sumitomo Corporation Group employees who are expected to become managers and future leaders of the company, we implement a leadership program in which participants acquire the skills necessary to set visions and strategies from a long-term perspective and hone the leadership abilities they will need to implement the strategies.
For Group companies in Japan, we provide a range of programs for new employees, mid-level employees, senior managers and clerical employees to help them acquire the leadership mindset and skills required for their respective positions and make progress for further improvement.
The Sumitomo Corporation Global HRD Center in Ginza, Tokyo serves as a training center to develop global talent as well as a strategic multipurpose facility. International colleagues from different organizations and countries all over the world meet at this facility for intensive discussions on the future visions and strategies of the Sumitomo Corporation Group.
Sumitomo Corporation Global HRD Center
Sumitomo Corporation conducts job training programs through Toyota Iraq, a subsidiary, to create local opportunities for stable employment and enhance the skills of job seekers. Prolonged conflict in Iraq has had tremendous impacts on the people, and more than 3 million people have been forced to leave their homes and have become internally displaced persons (IDPs).
Over recent years, employment has become a more serious issue for the younger generation in particular, and creating local skills training and employment opportunities is an urgent matter. Because of such problems, Toyota Iraq has been working with the UNDP since 2016 to conduct job training programs for such IDPs. Starting in 2020, the company has also been working with the International Organization for Migration, an organization affiliated with the United Nations, to conduct new programs offered to persons other than IDPs as well. To date, 108 persons have completed a total of 9 job training programs. These graduates have been offered support in finding work at local companies, and the programs themselves are continuing.
Sumitomo Corporation hopes to achieve sustainable development of local communities through these programs and will continue to support the creation of job opportunities and skill enhancement in Iraq through these business activities.
Trainees receiving training on vehicle maintenance, parts warehouse management and customer services
Talent development does not happen overnight. There is a need to envision, develop and deploy talents required for the growth of each business in the medium to long-term. In order to assign talent continuously and strategically in line with business strategies on a global basis, the Sumitomo Corporation Group implements the measures below to help all talent to play an active role, regardless of whether they belong to Sumitomo Corporation non-consolidated, overseas offices or group companies.
To identify key positions for our group management which are essential to execute our group strategy.
Each key position candidate will be selected not only for the next generation but also its following generation, and a successor training plan will then be put in place. Additionally, candidates are periodically reviewed and replaced.
To enable key position candidates to acquire the necessary experience, skills, and abilities, we will effectively combine job rotation, job assignment, and off-the-job training.
Under our HR system, to achieve the “Intrinsic motivation/Great Place to Work” described in the Global HR Management Policy, we conduct talent allocation after thorough alignment with the company’s expectations and the individual’s career aspirations. As an integrated trading company, continuous development of talent who possess a variety of knowledge and expertise is essential for the sustainable creation of value tailored to the social issues of the times, and we will continue assignment rotations to expand this talent pool. To develop “Top-Tier Professionals” as specified in the policy, more diverse rotations will be required, and there are cases such as longer term assignments in a particular field to enhance the talent’s expertise in that field.
As part of our current efforts to reform talent management, we are implementing a range of measures that enhance people management skills in dealing with individuals. We have introduced an “absolute evaluation” system that focuses on the individual. Instead of comparing specific actions, progress, and outcomes against those of others, the evaluation is based on the degree of achievements of the individual’s assignments and assignment-related objectives. We have also adopted a “360-degree evaluation” as a mechanism for improving the objectivity and validity of the “absolute evaluation,” and dealing sincerely with the individual to draw out their potential. The 360-degree evaluation is currently applied to managers and above. By soliciting a wide –range of comments from colleagues involved through work, supervisors can make their final evaluation based on those comments. In this way, we aim to achieve a greater level of information on how others see the individual, which improves the people management skills of the supervisors and enables them to deal more sincerely with their subordinates. It also provides opportunities for the subordinates to gain better insights as well.
In addition, a career assessment interview is held once a year between supervisors and subordinates to help reflect and align the career views of the subordinates with their supervisor. In these interviews, we review the individual’s career goals, experience, aptitude, and challenges from the medium to long-term perspective as we align company expectations for work and personal development needs with the individual’s own aspirations. This also aims to facilitate communication and help individuals understand that the interviews offer opportunities for superiors and subordinates to deal comprehensively with career plans and challenges to overcome. We are expanding our training programs to improve such communication skills to create references for effectively communicating with subordinates.
Through these evaluation system and career assessment, we aim to provide support for the development of the individual and open diverse career paths for each individual. Furthermore, by combining talent development measures, such as Internal Job posting system and planned rotations, we support the autonomous growth and diverse career development for each individual. Our objective is to continuously develop “Top-Tier professionals”.
We have introduced evaluations based on the progress of strategy execution as a measure to enhance each individual’s commitment in accomplishing each organizational strategy. Under this system, progress toward achievement of the KAIs and KPIs established at the SBU level is evaluated and reflected in individual bonuses. This leads to the internal sharing of good practices toward KAI/KPI execution and the enhancement of the overall PDCA cycle for the accomplishment of each organizational strategy.
We have adopted “a system of compensation linked to investment performance” as part of our efforts to strictly select investments and strengthen post-investment value-creation. By reflecting the performance of new investment projects in remuneration, this system seeks to improve the probability of success of new large-scale investments, and also the sense of ownership of the individual executing the investment.
Aiming to recruit and develop talent who can lead global business operations, the Sumitomo Corporation Group is focusing on promoting and developing locally hired employees in its overseas offices and Group companies.
As part of these efforts, we conduct training programs for locally hired employees at different career levels, such as senior executives, managers, and senior staffs. These training programs establish a shared sense of the Sumitomo Corporation Group's corporate DNA and strengthen the sense of unity among employees as members of the Group by reaffirming participants' understanding of Sumitomo’s Business Philosophy and the Group's management principles.
Sumitomo Corporation Group promotes the right talent in the right positions on a global basis, regardless of nationality and affiliation. Based on this policy, locally hired staff and employees of overseas offices and group companies are transferred beyond the borders of countries and companies. We positively appoint local staff to executive positions of overseas offices to promote our policy of placing the right talent to the right positions on a global basis.
Executives / upper managements In regional offices: 36
*As of April 2024
Sumitomo Corporation conducts an annual Engagement Survey for all of its employees to assess (1) their level of commitment to the organization, their engagement indicating their willingness to take initiative in their work, and (2) whether their work environment enables them to maximize their performance. The results of the survey are affected by not only the area of HR management but also by various factors such as business strategy, organizational structure, and work procedures. By carefully interpreting them, we are promoting various measures at company-wide level and at each workplace.
From FY2023, the survey is conducted for all employees worldwide, including locally hired employees in domestic and overseas offices, and “Employee Engagement” has been added as one of the evaluation indicators for stock based remuneration in the executive remuneration. In addition, we have set year-on-year improvement in Employee Engagement index as a target, and are checking whether it has been achieved.
0→1 Next (Zero One Next) is an in-house entrepreneurship program launched in FY2018 with the name of 0→1 Challenge, and then its design has been partially updated in FY2024. All Sumitomo Corporation Group employees worldwide regardless of affiliation or title are eligible to participate. Its aim is to enable individuals in each workplace to realize new business ideas. The concept of the challenge is to create businesses from zero (ideas never seen before) to one (creating next-generation businesses). In addition to creating new businesses, the program serves for enhancing business engineering power and leadership through challenge. Driven by their enthusiasm and intrinsic motivation to "absolutely make their ideas a reality," challengers go beyond the boundaries of their own organizations, and proactively interact and collaborate with people and organizations both inside and outside the company to refine their business concepts. The visions and aspirations of those challengers have resonated widely within the company and led to a culture of taking on challenges. Over 1,000 applications were received over the six years from FY2018 to FY2023. As of the end of FY2023, 15 ideas, including ones that passed the selection process in previous years, are in the process of achieving commercialization. Program participants are working passionately to bring to realize new ideas that Sumitomo Corporation Group have not embarked yet and that respond to new trends in our society. Even after the challenge is over, previous challengers play active roles in their organization, and colleagues around who witness the participants' challenges also become inspired. This program energizes the organization and leads to new initiatives in existing businesses and increased interaction with others internally and externally.
The SC Alumni Network was established in FY2019 to provide opportunities for alumni now working in other companies to interact with current officers and employees of Sumitomo Corporation. The purpose of the network is to foster an open corporate culture while creating new business opportunities by merging various knowledge and personal networks inside and outside the company. Alumni are expected to play a supporting role in securing talent while working to create a more interconnected network.
MIRAI LAB PALETTE promotes various collaborations as a community organizer to create new values with partners in diverse fields beyond the framework of the Sumitomo Corporation Group. We’ve launched it in 2019 as part of Sumitomo Corporation's 100th anniversary initiative.
Based on the concept of breaking away from traditional practices, creating a space where people of completely different backgrounds and cutting-edge technologies can meet and inspire each other, and creating new value that transcends all organizational boundaries, we provide facilities (Otemachi) and functions designed to bring together a diverse range of people and foster collaboration and co-creation.
MIRAI LAB PALETTE's greatest strength lies in its diversity, with over 7,500 members registered (as of August 2024) from various sectors, including industry, academia, government, and the private sector. Additionally, the average number of active visitors per month is approximately 1,800.
Through various daily activities, such as providing collaboration spaces, hosting events and programs, and facilitating member matchmaking, we create collaborations that transcend all boundaries.
Based on the collective agreement with the Sumitomo Corporation Labor Union, Sumitomo Corporation provides its employees with explanations of management policy and business status, as well as opportunities to discuss wages, labor conditions, personnel affairs, safety and health, and employee benefits on a regular basis. The agreement defines that the company must maintain and improve employment conditions and ensure stable lives for employees, and the labor union must keep order and discipline at work and make an effort to increase labor efficiency, and both parties must cooperate with each other in developing the company‘s business. To achieve this objective, we make every effort to have serious and sufficient discussions on each specific project, while ensuring mutual understanding and trust. In addition to matters for collective bargaining and negotiations on an official level, we hold various meetings to share opinions on a wide range of issues. They include informal meetings with the president, round-table discussions on business performance, medium-term management plan and related issues, Human Capital Strategy and personnel systems, work styles, and rewarding work. We also hold seminars organized jointly with the labor union. As the number of Mid-career hires increases, both the company and the labor union are engaged in networking initiatives. Sumitomo Corporation adopts a union shop system in which all employees participate, excluding executives above a certain level and employees classified as non-union members based on an individual agreement considering the nature of their jobs. As of March 2024, the number of members of the Sumitomo Corporation Labor Union is 3,200, accounting for 65% of all employees of Sumitomo Corporation (non-consolidated basis).
Our group's human capital is our most critical management capital. Through interviews, we will introduce you to our talents who are active in various business fields and regions, as well as the diverse ways in which they build their careers.
