Our approach to sustainability

Message

Since our establishment, under the basic policies of “investments in residential properties with high growth potential” and “utilization of the Tokyu Fudosan Holdings Group”, CRR has achieved internal and external growth by focusing our investment in assets located in the 23 wards of Tokyo where has a strong demand for rental residences.

In the meantime, we have witnessed changes in social structure and lifestyle in Japan, such as decrease in population caused by declining birthrate and aging population; migration of younger generations to metropolitan areas; change in residential preference from ownership to renting; and the government-led workstyle reform.

In recent years, demand for corporations to respond to such social issues has increased, considering that these issues and changes may become a risk factor for corporate business continuity. Triggered by the adoption of Sustainable Development Goals (SDGs) by the United Nations, the recognition that management focus on ESG (Environment, Society and Governance) will contribute to the enhancement of the corporate value, has been widespread.

In light of this trend, our asset management company TLC REIT Management, Inc. (the “Asset Management Company”) established their Sustainability Policy in April 2019 as their basic approach towards contributing to the development of sustainable society.

Since the theme defined in their Sustainability Policy is wide, the Asset Management Company has identified key issues as priority (the “Materiality”) which are related to our business such as environmental and energy saving measures, coexistence with the local community, and governance. CRR also shares the Materiality with the Asset Management Company as well. In addition, CRR respects the human rights of stakeholders involved in its business to pursue sustainable growth.

We will make sincere efforts to address our Materiality, and appropriately disclose the specifics of the material issues as well as our progress and achievements to our stakeholders.

Executive Director:

Sustainability Policy

The Asset Management Company is aware of the issues concerning environment, social consideration and governance enhancement, and shares the Group sustainability vision as a member of the Tokyu Fudosan Holdings Group (the “Group”). The Asset Management Company believes that commitment to these issues is equivalent to its social responsibility and implementation of its management philosophy, which will contribute to the development of sustainable society. It has established a sustainability policy (the “Policy”) to implement this philosophy.
Please refer to the “Sustainability Initiatives” by the Asset Management Company for details of the Policy.

Promotion System

To enhance the Asset Management Company's efforts towards the issues related to environmental or societal consideration, etc. based on its Sustainability Policy, the rules on the Sustainability Promotion System require that the President & CEO to be the Chief Sustainability Officer and each department appoint one responsible person from the department. The Sustainability Promotion Council is to be held with the President & CEO as chairperson. Sustainability Department was established as of April 1, 2021 to expand the functionality of the Sustainability Promotion System. The Sustainability Department succeeds the ESG-related missions from the Environmental Engineering Department, and we will further promote our sustainability program.

Sustainability Promotion Council

The Sustainability Promotion Council meets regularly with President & CEO as the Chief Sustainability Officer who assumes the ultimate responsibility, and other members from across the organization of the Asset Management Company and among members, we share relevant information and examine and promote the efforts. External experts are invited to the Council to consult opinions when needed.
Mattered discussed at the Sustainability Promotion Council are regularly reported to the Asset Management Company's Board of Directors and, as needed, to CRR's Board of Directors as well.

Members of the Sustainability
Promotion Council
Chairperson: President & CEO

Regular members:Director, Chief Division Officers of the Activia Management Division, Comforia Management Division, and Broadia Management Division, Corporate Management Division, General Managers of Environmental Engineering Department, and Sustainability Department, Compliance Officer

Organizer: Sustainability Department
Meeting frequency Every quarter in principle
Main issues to be discussed ・Amendment and abolishment of the Sustainability Policy
・Amendment and abolishment of the Materiality
・Matters related to, and common to the Asset Management Company and CRR
・Annual activities planning report on status

Environment Management System

The Asset Management Company established a unique environment management system (EMS) which applies PDCA cycle to continuously approach to environmental challenges. We are working to continuously reduce environmental impacts in the management operation for CRR, through the cycle of four steps; set targets (Plan), assess performance (Do), analyze budget vs. actual (Check), and implement countermeasures for a better performance (Act). The Asset Management Department of Comforia Management Division reviews actual performances regularly, reports review findings to the management at least once a year and receives both feedbacks for the fiscal year under review and directions for further improvement for the next fiscal year from the management.


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