External Evaluation and Commendations

This section provides an introduction to external evaluation and commendations of the Pigeon Group's ESG efforts. (As of March 31, 2021)

External Evaluation

MSCI Japan Empowering Women Select Index

An index published by US-based MSCI Inc. One of the ESG indices selected by Japan’s Government Pension Investment Fund (GPIF), this index selects companies from the 700 top companies on Japanese stock markets by total share value (MSCI Japan IMI Top 700 Index) that boast the most outstanding records in terms of empowerment of women. The Pigeon Group has been selected by this index every year since 2009.

THE INCLUSION OF PIGEON CORPORATION IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT OR PROMOTION OF PIGEON CORPORATION BY MSCI OR ANY OF ITS AFFILIATES. THE MSCI INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI. MSCI AND THE MSCI INDEX NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI OR ITS AFFILIATES.

MSCI Japan Empowering Women Select Index

S&P/JPX Carbon Efficient Index

One of the ESG indices selected by the GPIF, the S&P/JPX Carbon Efficient Index adopts TOPIX, a key index of share-price trends on Japanese markets, as its universe and weights the shares with emphasis on status of environmental disclosure and standards of carbon-efficiency. The Pigeon Group has been selected for inclusion in this index since 2020.

S&P/JPX Carbon Efficient Index

JPX-Nikkei 400

The JPX-Nikkei 400 is an index published by the Japan Exchange Group (JPX), the Tokyo Stock Exchange and Nikkei. The index is composed of “companies that are highly attractive to investors” for satisfying global investment standards such as efficient use of capital and investor-oriented management outlook. It was developed to highlight the appeal of Japanese companies to domestic and international investors, to promote sustainable improvement of enterprise value of those companies and to energize Japan’s stock markets. The Pigeon Group is currently selected as a constituent of the JPX-Nikkei 400 for the 8th consecutive year.

JPX-Nikkei 400

Key Commendations

2020

Tokyo Financial Award

In 2020 a new category, the SDGs category, was created out of the existing ESG Investment category of the Tokyo Financial Awards, honoring companies (including financial firms) that practice SDGs-oriented management. The Pigeon Group received the award for its support for promotion of mother’s-milk banks, an effort made possible by the Group’s unique knowledge set and network.

Tokyo Financial Award

2018

Forbes JAPAN WOMEN AWARD 2018

The Forbes Japan Women Award recognizes companies that create diverse and worker-friendly workplaces through “true women’s empowerment.” In the 2018 awards, the Pigeon Group was bestowed with Second Prize in the Enterprise Award and Diversity Promotion Award. (The Enterprise Award was in the category of companies with 300 or more but fewer than 1,000 employees.)

Forbes JAPAN WOMEN AWARD 2018

2018 Best IR Award

The Pigeon Group received the Best IR Award in the 2018 Best IR Award, sponsored by the Japan Investor Relations Association (JIRA). The Group was praised for its senior management’s awareness of the importance of improving enterprise value, its regular dialogue with investors, and its disclosure of its logic trees based on Pigeon Value Added (PVA: the Group’s proprietary version of Economic Value Added (EVA)).

Best IR Award

2015

Corporate Value Improvement Awards

The Pigeon Group was awarded the Grand Prix at the 2015 Corporate Value Improvement Awards, sponsored by the Tokyo Stock Exchange. Pigeon was praised for such measures as setting management targets in consideration of investor perspectives, proactive disclosure and the Group’s original management index, PVA, which is used to quantify enterprise value created.

Corporate Value Improvement Awards

Outside Certifications

2015

Platinum Kurumin

In 2007 the Pigeon Group was awarded the Kurumin logo, recognizing the Group’s certification as “a company that supports child-rearing.” In 2018 the Group was recognized with the Platinum Kurumin logo, honoring its achievements, even among certified Kurumin recipients, in introducing systems that support work-life balance and promoting their use, as well as the superior level of its efforts.

Platinum Kurumin