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37 Enterprises Selected under the 2019 Health & Productivity Stock Selection Program

February 21, 2019

The Ministry of Economy, Trade and Industry (METI) and the Tokyo Stock Exchange (TSE) have been jointly selecting exceptional TSE-listed enterprises engaged in health and productivity management in which enterprises focus on and strategically carry out efforts regarding their employees’ health from a management perspective as brands under the Health & Productivity Stock Selection program. Under the program, METI and TES introduce the selected enterprises as attractive investment options for investors who prioritize the improvement of corporate value from a long-term perspective. Through this effort, METI and TES aim to encourage enterprises to further engage in health and productivity management.

The 2019 Selection is the fifth such selection, and METI hereby announces that 37 enterprises in 28 industries were selected as brands of the 2019 Health & Productivity Stock Selection.

1. Outline of the program

Under the Health & Productivity Stock Selection program, METI and TSE have jointly been selecting outstanding listed companies engaging in a health and productivity management program in which enterprises focus on and strategically carry out efforts with regard to their employees’ health from a management perspective. Under the program, METI and TES recognize such outstanding TSE-listed enterprises in terms of health and productivity management and introduce the selected enterprises as attractive investment options for investors who prioritize the improvement of corporate value from a long-term perspective. Through this effort, METI and TES aim to raise social recognition of enterprises engaging in health and productivity management and to thereby further encourage such programs..

This program has been conducted as one of the measures under the Future Investment Strategy 2018 policy.

Prior to the selection, METI conducted the FY2018 Survey on Health and Productivity Management* and assessed the responses collected through this survey based on five criteria: [i] the positioning of health and productivity management in management philosophy and policies, [ii] organized frameworks established for tackling health and productivity management issues, [iii] specific systems established for ensuring health-conscious management as well as measures introduced for implementing them, [iv] measures established for assessing and improving health and productivity management, and [v] adherence to laws and regulations and risk management. The 37 outstanding enterprises were selected after being sorted by these criteria as well as by their financial performance and other points as additional criteria.

From the 2019 Selection, METI and TSE started new selection of outstanding enterprises through the following procedure: on a one-company per industry basis as before, they calculate the average score of enterprises that have earned the highest score in terms of the level of health and productivity management by industry based on the results of the Survey on Health and Productivity Management and select enterprises that have earned higher scores above the average.

*Note: METI conducted the FY 2018 Survey on Health and Productivity Management (FY2018 Research Project for Assessing the Health and Productivity of Enterprises), targeting all listed and other enterprises in Japan (3,740 enterprises as of August 27, 2018).

Selection criteria

METI and the TSE selected:

  1. Enterprises ranking in the top 20% of all enterprises that answered the Survey on Health and Productivity Management in terms of scores derived from the overall rating system;
  2. Enterprises whose ROE (return on equity) is not lower than 0% as the past three-year average; etc.

Note: Additionally, enterprises should not have committed any serious legal violations.

2. List of the selected enterprises under the 2019 Selection (37 enterprises in 28 industries, in numerical order by brand code)

Industry Brand code Enterprise Selected year
2019 2018 2017 2016 2015
Fishery, agriculture and forestry 1332 Nippon Suisan Kaisha, Ltd.        
Construction 1820 Nishimatsu Construction Co., Ltd.        
Food 2802 Ajinomoto Co., Inc.    
Fabricated textile products 3591 Wacoal Holdings Corp.  
Pulp and paper 3880 Daio Paper Corporation        
Chemicals 4452 Kao Corporation
Medicines 4507 Shionogi & Co., Ltd.  
Petroleum and coal products 5020 JXTG Holdings, Inc.        
Rubber products 5195 Bando Chemical Industries, Ltd.    
Glass and clay products 5332 TOTO Ltd.
Iron and steel 5411 JFE Holdings, Inc.      
Non-ferrous metal 5801 Furukawa Electric Co., Ltd.        
Machinery 6146 DISCO Corporation        
Electrical equipment 4902 Konica Minolta, Inc.  
6448 Brother Industries, Ltd.      
6645 OMRON Corporation        
6856 HORIBA, Ltd.        
7751 Canon Inc.        
Transportation equipment 6902 Denso Corporation    
Precision machines 4543 Terumo Corporation
Other products 7936 ASICS Corporation      
Electricity and gas 9502 CHUBU Electric Power Co., Inc.        
Land transport 9005 Tokyu Corporation
Information and communication 4689 Yahoo Japan Corporation        
9687 KSK Co., Ltd.        
9719 SCSK Corporation
Wholesale trade 8060 Canon Marketing Japan Inc.      
Retail trade 8252 Marui Group Co., Ltd.      
Banking 8379 Hiroshima Bank Ltd.        
8411 Mizuho Financial Group, Inc.      
Securities, futures commodity transaction dealers 8601 Daiwa Securities Group Inc.
Insurance institutions 8630 Sompo Holdings, Inc.        
8725 MS&AD Insurance Group Holdings, Inc.        
8766 Tokio Marine Holdings, Inc.  
Other financial services 8566 Ricoh Leasing Company Ltd.    
Real estate 8860 Fuji Corporation Limited    
Services 2432 DeNA Co., Ltd.        

Note: The term “health and productivity management” is a registered trademark of the Workshop for the Management of Health on Company and Employee.

Division in Charge

Healthcare Industries Division, Commerce and Service Industry Policy Group