Sumitomo Mitsui Trust : Receives Gold Rating on PRIDE Index Evaluation (137KB)

November 21, 2023

To whom it may concern

Sumitomo Mitsui Trust Holdings, Inc.

Sumitomo Mitsui Trust Bank, Limited

Sumitomo Mitsui Trust Group Receives Gold Rating on PRIDE Index Evaluation

We are pleased to announce that Sumitomo Mitsui Trust Holdings, Inc. (Director, President: Toru Takakura, hereinafter "SuMi TRUST Holdings") received the top rating of gold on the wwP's (Work with Pride) (*1) PRIDE Index, which evaluates companies' efforts toward inclusion of members of the LGBTQ+ community, as a group (*2) on November 7. In addition, Sumitomo Mitsui Trust Bank, Limited (Director, President: Kazuya Oyama, hereinafter "SuMi TRUST Bank") was simultaneously awarded the Rainbow Award, which recognizes companies implementing collective impact initiatives. (*3)

The PRIDE Index was established in 2016 as Japan's first index that evaluates companies' LGBTQ+- related initiatives across five pillars: Policy (Action Declaration), Representation (LGBTQ+ network), Inspiration (Raising Awareness), Development (Human Resources Management Policy and Programs), and Engagement/ Empowerment (Social Responsibility and External Activities). Companies are evaluated based on these five pillars and assigned a rating of either gold, silver, or bronze. In 2017 and 2018, SuMi TRUST Bank received a Gold Rating. From 2019, these initiatives were expanded across our entire group, leading to SuMi TRUST Holdings along with five of its group companies (SuMi Trust Bank, Sumitomo Mitsui Trust Asset Management Co., Ltd., Sumitomo Mitsui Trust Business Service Co., Ltd., Sumitomo Mitsui Trust Card Co, Ltd., and Sumitomo Mitsui Trust Club Co., Ltd.) receiving the Gold Rating. With Sumitomo Mitsui Trust Panasonic Finance Co., Ltd., Custody Bank of Japan, Ltd., Sumitomo Mitsui Trust Life Partners Co., Ltd., and Nikko Asset Management Co., Ltd. added to the list of Gold Rating recipients in 2022 and Sumitomo Mitsui Trust General Service, Inc. added in 2023, a total of ten group companies along with SuMi TRUST Holdings received this Gold Rating for our initiatives as a group. SuMi TRUST Bank simultaneously received the Rainbow Award for three consecutive years since 2021.

SuMi TRUST Group holds the concept of diversity,equity & inclusion in the sense of "leveraging the diversity and creativity of each individual in management" as its Mission (management principles). Our Group declares that its Human Rights Policy includes the principle that our Group and its employees shall not violate human rights or discriminate against employees based on sexual orientation or gender identity.

To create a workplace in which employees who identify as LGBTQ+ can fully demonstrate their abilities, we have continuously improved our working environment by setting up consultation centers, revising employee benefit programs and offering training sessions to raise awareness of LGBTQ+ issues. In November 2022, we announced our support as a Group for the "Business for Marriage Equity," a campaign meant to bring together companies that support equality in marriage, as well as for the "Declaration of Business Support for LGBT Equality," a campaign which aims to enact the "LGBT Equality Law" in Japan. We have sponsored "Tokyo Rainbow Pride 2023" as well as pride events throughout the nation (in Sapporo, Nagoya, Kanazawa, Osaka, Wakayama, Yamaguchi, Fukuoka). SuMi TRUST Bank offers mortgage loans to same-sex partners (*4) by considering them as spouses, while Sumitomo Mitsui Trust Club Co., Ltd. and Sumitomo Mitsui Trust Card Co, Ltd. issue family credit cards to same-sex partners. Through these initiatives, we have expressed our support for LGBTQ+ individuals inside and outside our Group. Moreover, we have been working with local governments to promote understanding of LGBTQ+ topics in communities while enhancing cooperation with companies and organizations that have common views in each region.

SuMi TRUST Group will continue our initiatives to make a positive impact on society in collaboration with local governments, LGBTQ+ support groups and LGBTQ+-friendly companies through activities tailored to each community. At the same time, we will continue working to improve the environment and raise awareness to achieve our "Declaration of Work Style Reform," which aims to realize "a workplace where the diversity and creativity of its employees are more fully utilized to add value to the organization and where employees can have pride and be highly motivated in fulfilling their missions".

(*1) wwP is a general incorporated association that supports the promotion and establishment of diversity in management related to LGBTQ+ topics in companies and other organizations.

(*2) The group includes SuMi TRUST Holdings, SuMi TRUST Bank, Sumitomo Mitsui Trust Asset Management Co., Ltd., Sumitomo Mitsui Trust Business Service Co., Ltd., Nikko Asset Management Co., Ltd., Sumitomo Mitsui Trust Card Co., Ltd., Sumitomo Mitsui Trust Club Co., Ltd., Sumitomo Mitsui Trust Panasonic Finance Co., Ltd., Custody Bank of Japan, Ltd., Sumitomo Mitsui Trust Life Partners Co., Ltd. and Sumitomo Mitsui Trust General Service, Inc. Nikko Asset Management Co., Ltd. has received Gold on a non-consolidated basis for five consecutive years since 2019.

(*3) Collective impact is the commitment of a group of important actors from different sectors (NPOs, governments, companies) to a common agenda for solving a specific social problem at scale.

(*4) It is necessary to submit a notarized document or other documentation designated by SuMi TRUST Bank.

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