Inclusion in ESG Investing Indexes

CDP Climate Change A List

TOPPAN Holdings Inc. has been named to CDP’s 2023 Climate Change A List. A total of 346 companies scored an A for Climate Change in the 2023 assessment, including 109 from Japan.
CDP is a global non-profit that surveys and assesses the efforts of businesses and subnational governments in relation to environmental issues. CDP’s annual assessment process is aligned with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and is renowned as a global standard for evaluating companies’ environment-related activities. In 2023, more than 740 financial institutions requested data through CDP, and a record number of more than 23,000 companies responded by providing disclosures.

Dow Jones Sustainability World Index(DJSI World)

TOPPAN Holdings Inc. was named to the 2023 Dow Jones Sustainability World Index (DJSI World). TOPPAN Holdings has been included in DJSI World six times and is the only Japan-based company in the Commercial & Professional Services industry group in the 2023 index. A total of 321 companies were selected overall, including 38 from Japan.
DJSI World is an ESG investing index provided by S&P Global. As one of the longest-running and best-known sustainability indexes, it is widely recognized and trusted by experts the world over. Companies’ environmental, social, and governance (ESG) performance is evaluated based on a stringent Corporate Sustainability Assessment (CSA) of more than 13,500 listed entities around the world, with those demonstrating outstanding sustainability practices being selected to the index.

MSCI Japan Empowering Women Index (WIN)

An ESG investment index provided by MSCI Inc. of the U.S. The index is composed of companies recognized for their excellence in gender diversity in the workplace based on various gender-equality metrics, including the percentages of women among new hires and management. Toppan Inc. was listed on the index in 2023, as it was in the previous year.

FTSE4Good Index Series
FTSE Blossom Japan Index
FTSE Blossom Japan Sector Relative Index

The FTSE4Good Index Series is a group of ESG investment indexes developed by FTSE Russell of the U.K. Toppan Inc. has been listed on the FTSE4Good Index Series, FTSE Blossom Japan Index, and FTSE Blossom Japan Sector Relative Index for several consecutive years.

Sompo Sustainability Index

Established by Sompo Asset Management Co., Ltd. of Japan as an investment index composed of around 300 companies with records of outstanding performance in ESG metrics. The companies listed on the index make up the long-term investment portfolio managed by Sompo Sustainable Asset Management. As of fiscal 2022, Toppan Inc. has been listed on the Sompo Sustainability Index for 12 years running.

S&P/JPX Carbon Efficient Index

The S&P Dow Jones and Tokyo Stock Exchange (TSE) jointly recognize Japanese companies with a sound record of disclosing environmental information and achieving a high level of carbon efficiency (low carbon emissions per unit of sales).

Morningstar Japan ex-REIT Gender Diversity Tilt Index

Morningstar Japan ex-REIT Gender Diversity Tilt Index

An index from Morningstar, Inc. of the U.S., composed of companies highly evaluated for their corporate commitment to gender diversity in the workplace. The index divides companies in the Japanese market into five groups based on their gender equality scores. Toppan Inc. has the highest ranking, Group 1.

Recognition for ESG


A France-based ratings platform that evaluates corporate efforts for sustainability in the supply chain based on four themes: the environment, labor and human rights, ethics, and sustainable procurement. Toppan Inc. has been awarded the Silver medal, a recognition granted to companies rated in the top quartile of entities assessed, for consecutive years.

DX Stock 2023

Japan’s Ministry of Economy, Trade and Industry (METI) and the Tokyo Stock Exchange (TSE) jointly introduced the Digital Transformation Stocks (DX Stocks) in 2015. Companies are selected for the DX Stock designation by exhibiting outstanding strategic uses of digital technologies that contribute to management reforms and efficiency and profitability enhancements. Toppan Inc. was included in this selection for the third consecutive year in fiscal 2023.

2023 Health & Productivity Management Organization “White 500”

METI has established a Certified Health & Productivity Management Organization Recognition Program in Japan to recognize enterprises of various sizes that exhibit outstanding performance in employee healthcare initiatives from a management perspective. Under this program, companies are assessed for their engagement in initiatives to address healthcare-related issues in communities and to practice the health-promotion measures recommended by the Nippon Kenko Kaigi (Japan Health Conference). Toppan Inc. was named a health and productivity management organization for the seventh consecutive year in fiscal 2023.

Eruboshi Marks

Eruboshi (“L Star” in Japanese; L stands for “lady, labor, and laudable”) is a certification system aligned with the Japanese Act on the Promotion of Female Participation and Career Advancement in the Workplace. Eruboshi marks are issued to companies that meet the specific criteria for excellence in female success in the workplace and other gender equality metrics. Toppan Inc. acquired the 2nd grade mark (shown on the right) on March 1, 2021.

PRIDE Index 2022

The PRIDE Index was developed in 2016 by “work with Pride (wwP),” a Japan-based organization of volunteers who promote LGBTQ-friendly workplaces where everyone can work with pride. wwP evaluates corporate efforts to create LGBTQ-inclusive workplaces with the PRIDE Index. Toppan Inc. became a “Gold” winner in fiscal 2022, achieving the highest designation for the second consecutive year.