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Efforts for Employees
The Act on Investment Trusts and Investment Corporations prevents investment corporations from hiring employees, so the asset manager’s employees are responsible for operation in practice. The Asset Manager to which the Investment Corporation entrusts asset management cultivates its human resources through initiatives like the following to achieve high-level asset management.
Promotion of Active Participation of Diverse Personnel
Believing that promotion of active participation of diverse personnel improves the organization, the Asset Manager monitors employee diversity. Daiwa Securities Group proactively promotes talented employees regardless of gender and endorsed the declaration of the Cabinet Office Gender Equality Bureau’s Male Leaders Coalition for Empowerment of Women in 2015.
| FY2019 | FY2020 | FY2021 | FY2022 | |
|---|---|---|---|---|
| Number of directors（Including part-time） | 6 | 7 | 6 | 7 |
| Male | 6 | 7 | 6 | 6 |
| Female | 0 | 0 | 0 | 1 |
| Ratio of Female directors | 0% | 0% | 0% | 14.3% |
| Number of managers | 84 | 91 | 99 | 90 |
| Male | 66 | 73 | 82 | 71 |
| Female | 18 | 18 | 17 | 19 |
| Ratio of Female managers | 21.4% | 19.8% | 17.2% | 21.1% |
| Number of employees in senior human resources (age over 60) |
1 | 3 | 3 | 4 |
Strategies for securing/training human resources
In addition to hiring talented personnel from outside the company, the Asset Manager has concluded a "Sponsor Support Agreement Concerning Cooperation in Securing Human Resources, etc." with Daiwa Securities Group Inc. and accept employees on secondmentfrom the Daiwa Securities Group to promote the sharing and passing on of expert opinions and skills related to real estate asset management, and to improve the sustainability of the entire organization. The Asset Manager has also introduced an "intra-group recruitment system" to open up new career paths for employees with the desire and ability to achieve self-fulfillment.
| FY2020 | FY2021 | FY2022 | |
|---|---|---|---|
| Secondments from sponsor | 28 | 28 | 27 |
Qualification Acquisition Support
The Asset Manager supports its employees so that they can demonstrate a high level of expertise as professional personnel. The Asset Manager provides support for the acquisition of qualifications to improve employees' abilities, such as training and examinations for various qualifications, including real estate-related qualifications such as certified real estate transaction agents and certified masters of the Association for Real Estate Securitization, as well as covering the costs of maintaining qualifications.
Main Qualification Holders
| Number of holders | |
|---|---|
| Real Estate Transaction Specialist | 71 |
| ARES Certified Master | 43 |
| Certified Building Administrator | 11 |
| First-Class Architect | 8 |
| Real Estate Consulting Master | 8 |
| Real Estate Appraiser | 1 |
| Chartered Member of The Security Analysts Association of Japan | 12 |
| Certified Public Tax Accountant | 2 |
- Number of employees of the Asset Manager in FY2022: 118
(As of March 31, 2023)
Qualification Support Usage Results
| FY2022 | |
|---|---|
| Number of qualification support utilization | 48 |
| Qualification fee per person | 8,408yen |
Employee Health & Comfort
Creation of Comfortable Working Environment
The Asset Manager has installed free vending machines, cafeteria space, Wi-Fi and other telecommunication environment in the office area and meeting rooms, and introduced a free address system in order to improve the office space with consideration for the comfort of employees, and is striving to create a workplace environment that supports diverse work styles and enhances productivity.
Benefits and Work-Life Balance
The Asset Manager has introduced a flextime system, a teleworking system, an hourly paid leave system, and other systems to enable employees to work in diverse ways according to their individual lifestyles and work characteristics. The following systems have been established to help employees achieve a better work-life balance so that they do not have to give up work due to life events such as childbirth, childcare, or nursing care.
All Employees
Consecutive holiday, flextime, medical checkups, Life Support paid holiday, Telework system
Childrearing
Childcare leave, Childcare Support Leave, Pre-childcare leave for male employees, Short working hours system, Exemption/restriction on overtime work, Nursing care leave, Daycare subsidy, Babysitter system, Support desk for employees looking for nursery schools
Female Employees
Daiwa ELLE Plan
Nursing Care
Nursing care leave, Nursing care-support leave
| FY2020 | FY2021 | FY2022 | |
|---|---|---|---|
| Childcare leave takers | 6 | 10 | 5 |
| Return rate from child care leave | 100% | 100% | 80% |
| Childcare Support Leave takers | 2 | 6 | 2 |
| Childcare Support leave usage rate | 100% | 100% | 100% |
| Nursing care leave takers | 0 | 0 | 0 |
Employee Satisfaction Survey
The asset Manager believes that it is important to reflect the views of employees in organizational management and utilize them in various measures, etc.,in order to build a better workplace environment . To this end, it conducts employee satisfaction surveys(in principle, at least once every three years) by an external organization and utilizes the survey results to improve the internal environment.
Initiatives for Health Care
In its health and safety efforts, including labor management and crisis management, the Asset Manager emphasizes the prevention of overwork and the proper understanding of working hours, and strives to improve labor productivity and maintain employee health by appropriately monitoring working hours. It concludes labor-management agreements (36 agreements) on overtime work with employee representatives. As a new initiative, since February 2023, the lights have been automatically turned off in the office area of the Asset Manager every certain time after 7:00 p.m., in an active effort to reduce overtime hours. In addition, in order to maintain the health of its employees, it provides subsidies for various expenses such as the expenses for medical checkups and influenza inoculations, etc., and also making efforts to thoroughly conduct stress checks and medical examinations, require employees to take long consecutive vacations, improve the rate of paid vacations taken, etc.
Employee Health Data
| FY2020 | FY2021 | FY2022 | |
|---|---|---|---|
| Percentage of employees who took the stress check | 94% | 94% | 96% |
| Paid holiday usage rate | 72% | 77% | 74% |
| Yearly paid holidays taken per person | 16.6 | 17.8 | 17.0 |
| FY2020 | FY2021 | FY2022 | |
|---|---|---|---|
| Annual Prescribed Working Hours per Person | 1837.5 | 1830 | 1837.5 |
| Average monthly overtime hours per person | 24.6 | 23.1 | 18.7 |
Initiatives to Promote Wellness
Daiwa Securities Group has implemented measures to prohibit smoking on all surfaces during working hours and to improve health awareness. In June 2022, the Group began offering subsidies for dental checkups to all insured employees of Daiwa Securities Group, and launched the "Good Sleep Daiwa -Good Sleep Daiwa Project" as an initiative to improve employees' sleeping skills. Reflecting the opinions of the employee satisfaction survey, the Asset Manager, upon the initiative of its employees, has continued to hold "Shuffle Lunch Meetings" to revitalize internal communication, which had become scarce with the Corona Disaster, and subsidized the expenses for the meetings.
Fulfilling Workplace Creation
Employee Satisfaction Surveys
Believing in the importance of reflecting employee feedback in various measures to build a better working environment, the Asset Manager regularly conducts employee satisfaction surveys and uses the results to improve the in-house environment.
Evaluation System
The Asset manager conducts performance reviews of all employees every six months and pays bonuses commensurate with their achievement of half-year targets. The regular evaluation and feedback help employees in their career development and forms a transparent HR evaluation system.
Ongoing Anti-Harassment Training
The Asset Manager increases employee sensitivity to and awareness of harassment by instructing employees on their first day (or secondment) about harassment, the whistleblowing system and other internal controls, conducting regular anti-harassment training thereafter and ensuring thorough awareness of the compliance consultation process. It also asks about harassment when employees submit their career plans twice a year.
General Business Owner Action Plans
In accordance with the Law for Act on Advancement of Measures to Support Raising Next-Generation Children and the Act of Promotion of Women's Participation and Advancement in the Workplace, the Asset Manager has formulated General Business Owner Action Plans with the aim of creating a pleasant working environment and a work environment in which female employees can work for a long time. For those who have taken childcare leave, we encourage to provide them with a place to discuss about the balance of childcare and work such as follow-up lunches when returning to work.
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HR Data
| FY2019 | FY2020 | FY2021 | FY2022 | |
|---|---|---|---|---|
| Employees | 113 | 127 | 132 | 118 |
| Male | 76 | 88 | 94 | 80 |
| Female | 37 | 39 | 38 | 38 |
| Percentage of Female | 32.7% | 30.7% | 28.8% | 32.2% |
| Contract employees | 0 | 0 | 0 | 0 |
| Male | 0 | 0 | 0 | 0 |
| Female | 0 | 0 | 0 | 0 |
| (Ref.) Temporary employees | 5 | 5 | 5 | 3 |
| Male | 0 | 0 | 0 | 0 |
| Female | 5 | 5 | 5 | 3 |
| New hires | 11 | 15 | 10 | 6 |
| Male | 6 | 13 | 9 | 3 |
| Female | 5 | 2 | 1 | 3 |
| Average Years Employed | 4.7 | 5.1 | 5.2 | 6.5 |
| Male | 4.9 | 5.4 | 5.2 | 6.5 |
| Female | 4.4 | 4.6 | 5.2 | 6.4 |
| Departures | 4 | 3 | 3 | 3 |
| Rate of departure | 3.8% | 2.7% | 2.4% | 2.6% |
| SecondMalets from sponsor | 26 | 28 | 28 | 27 |
- Excluding secondments from sponsor.
Labor Standard Infractions
The Asset Manager had no serious labor standard infractions between April 1, 2022, and March 31, 2023.
Human Rights Efforts
Formulation of Daiwa Securities Group Human Rights Policy
The Daiwa Securities Group's corporate philosophy states that “the Group will strive to maintain a high sense of morality and duty, endearoring to continue contributing to the sustainable growth of the societies in which we operate“. In October 2022, to further improve a corporate culture rooted in the basic principles of respect for human rights, and to promote efforts for the respect of the human rights in accordance with international standards, it has established this Human Rights Policy.
Daiwa Securities Group Human Rights Policy
1.Respect for International Standards
Daiwa Securities Group supports and respects international standards on human rights, such as the International Bill of Human Rights (consisting of the Universal Declaration of Human Rights and the International Covenants), the UN Guiding Principles on Business and Human Rights, the ILO Declaration on Fundamental Principles and Rights at Work, the OECD Guidelines for Multinational Enterprises, ISO 26000, and Children's Rights and Business Principles. We also endorse the Ten Principles of the UN Global Compact as a signatory to the UN Global Compact.
2.Scope of Application
This Policy applies to all companies, officers, and employees within Daiwa Securities Group. We also expect all stakeholders, such as customers and suppliers, to respect human rights.
3.Prohibition of Human Rights Violations
Daiwa Securities Group provides an equitable and safe working environment that values people, and is considerate of the human rights of all stakeholders. We do not tolerate discrimination based on race, nationality, birthplace, creed, religion, politics, biological sex, sexual orientation, gender identity, social status, physical characteristics, or disability, or human rights violations such as sexual harassment, power harassment, or other acts of harassment in any aspect of our work. Furthermore, we do not tolerate unfair labor, such as child labor and forced labor.
4.Human Rights Due Diligence
Daiwa Securities Group conducts appropriate human rights due diligence and is committed to preventing and mitigating any negative impact its corporate activities may have on human rights.
5.Remedial Mechanisms
Daiwa Securities Group takes corrective and remedial actions through appropriate procedures in the event it becomes clear that its corporate activities have caused or been involved in a negative impact on human rights.
6.Education and Training
Daiwa Securities Group educates and instructs all officers and employees with accurate information on human rights. At the same time, we view human rights issues as our own problem, not somebody else's problem, and foster a sensitivity that enables empathy with the suffering of others.
7.Information Disclosure
Daiwa Securities Group is committed to disclosing information on its human rights initiatives and progress on its website and through other media to ensure that they are understood by all stakeholders.
8.Stakeholder Engagement
Daiwa Securities Group implements this Policy with an emphasis on dialogue with stakeholders.
9.Governance System
Daiwa Securities Group has established a Human Rights Awareness Promotion Committee, chaired by the Human Resources Officer, to promote human rights initiatives. This Policy is determined by the Board of Directors.
Initiatives to Respect Human Rights
The Asset Manager promotes human rights initiatives based on the “Daiwa Securities Group Human Rights Policy". The compliance manual stipulates "respect for human rights and prohibition of discrimination, sexual harassment, etc." and all officers and employees, including temporary employees, are thoroughly informed of this policy through compliance training and other means. In the future, we will further strengthen our human rights education and awareness efforts, and encourage all stakeholders to understand this policy and comply with it to ensure respect for human rights.
Promoting Diversity Equity & Inclusion (DEI)
In its Sustainability Policy formulated in 2023, the Asset Management Company has set "promotion of diversity, equity, and inclusion (DEI)" as one of the major issues to be addressed. The Asset Manager is working to create a work environment where each and every employee can fully demonstrate his or her abilities and work with vitality, regardless of age, nationality, gender, values, or disabilities.
Complaint Collection
As a member of Daiwa Securities Group, the Asset Manager has an anonymous whistleblowing system to quickly detect and correct any infraction of the law or regulations. The report recipient is the Daiwa Securities Group Inc.’s corporate ethics officer or designated advisory legal firm attorney. When necessary, the internal control supervisor implements corrective and preventive measures based on the instructions of the president.