External Evaluations | Sustainability of Morinaga Milk

Incorporation into SRI index

＊As of March 31, 2026

Index and Rating	Summary
FTSE JPX Blossom Japan Index https://www.lseg.com/en/ftse-russell/indices/blossom-japan	Constructed for companies in Japan that have excellent responses to environment, social, and governance (ESG) issues
FTSE JPX Blossom Japan Sector Relative Index https://www.lseg.com/en/ftse-russell/indices/blossom-japan	An index built for companies with relatively excellent ESG practices in each sector
MSCI Japan ESG Select Leaders Index *THE INCLUSION OF Morinaga Milk Industry Co., Ltd. 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 Morinaga Milk Industry Co., Ltd. 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.	An index created for companies with relatively outstanding ESG practices in each sector
Morningstar Japan ex-REIT Gender Diversity Tilt Index	An index built for companies with excellent practices for gender diversity.
S&P/JPX Carbon Efficient Index	An index composed with a focus on the status of environmental information disclosure and the level of carbon efficiency (carbon emissions per sales)
SOMPO Sustainability Index	An index built for companies with excellent ESG practices.

Evaluation by external evaluation organizations

Evaluations from Evaluating Organizations	Summary
CDP 2025 "CDP Water Security A List (highest rating)"	CDP is a nonprofit organization established in 2000 that operates an environmental information disclosure system. In CDP 2025, more than 22,100 companies disclosed information on climate change, forests, and water security, and about 20,000 of them were evaluated from D- to A.
FTSE Russell ESG Score: 3.6	FTSE Russell, part of the London Stock Exchange Group, is a global leader that provides multi-asset benchmarks, analytics, and data solutions. The FTSE Russell ESG Score evaluates the transparency of companies' ESG (environmental, social, and governance) activities. The ESG score is assessed once a year based on data collected from public information.
MSCI ESG Ratings: A	MSCI ESG Ratings provide an opinion on companies' management of financially relevant ESG risks and opportunities. Each rating takes into account a company's exposure to potential material ESG risks and the quality of its management systems, and governance structures to mitigate those risks, and, where applicable, considers how the company responds to market demand for products and services that may deliver positive environmental and social impacts. For details on the definitions of the rating scale, please refer to MSCI ESG and Climate Symbols and Definitions.

Evaluations from Evaluating Organizations

Summary

CDP 2025 "CDP Water Security A List (highest rating)"

CDP is a nonprofit organization established in 2000 that operates an environmental information disclosure system.
In CDP 2025, more than 22,100 companies disclosed information on climate change, forests, and water security, and about 20,000 of them were evaluated from D- to A.

FTSE Russell ESG Score: 3.6

FTSE Russell, part of the London Stock Exchange Group, is a global leader that provides multi-asset benchmarks, analytics, and data solutions.
The FTSE Russell ESG Score evaluates the transparency of companies' ESG (environmental, social, and governance) activities. The ESG score is assessed once a year based on data collected from public information.

MSCI ESG Ratings: A

MSCI ESG Ratings provide an opinion on companies' management of financially relevant ESG risks and opportunities. Each rating takes into account a company's exposure to potential material ESG risks and the quality of its management systems, and governance structures to mitigate those risks, and, where applicable, considers how the company responds to market demand for products and services that may deliver positive environmental and social impacts. For details on the definitions of the rating scale, please refer to MSCI ESG and Climate Symbols and Definitions.

Related commendations

Morinaga Milk has received commendations from various external organizations for product quality, research activities, and social activities.

2024

Product, Activity	Commendation	Result	Theme
Child-rearing support activity	Consumer Affairs Agency	Received Commissioner of the Consumer Affairs Agency Commendation	Social activities
Integrated report	Nikkei Inc.	Received the Award for Excellence at the Third NIKKEI Integrated Report Award	Social activities
Website	Ministry of the Environment	Selected as Environmentally Sustainable Company at fifth ESG Finance Awards Japan	Social activities

2023

Product, Activity	Commendation	Result	Theme
Research on bifidobacteria	NutraIngredients‐Asia Awards	Awarded Ingredient of the Year in the Cognitive Function category	Research Activities
Research on bifidobacteria	Commendation for Science and Technology (Development Category) by the Minister of Education, Culture, Sports, Science and Technology Award	Science and Technology Award	Research Activities
Morinaga Milk Online Activities to Support the Growth of the Next Generation	Ministry of Education, Culture, Sports, Science and Technology Award for Companies Promoting Experience-based Learning Activities for Youth	Judging Panel Encouragement Award	Social contribution activity
Research on bifidobacteria	NutraIngredients‐Asia Awards	Awarded Ingredient of the Year in the Cognitive Function category	research activities
Food manufacturing system	Japan Food Hygiene Association, Ministry of Health, Labour and Welfare	Received the Excellent Food Hygiene Facility Award	Social activities

2022

Product, Activity	Commendation	Result	Theme
Research related to lactobacillus, bifidobacteria, etc.	Japan Society for Lactic Acid Bacteria	Japan Society for Lactic Acid Bacteria Award	Research Activities
Creap	World Branding Forum	Brand of the Year Awards(DAIRY PRODUCTS – CREAMER category of the World Branding Awards)	Products
Mt. RAINIER Japan's First Pop-up Newspaper Ad	Nihon Shinbun Kyokai	Newspaper Advertising Prize Excellence Award	Products
Initiatives related to production and supply of specialty milk	Ministry of Health, Labour and Welfare	Letter of appreciation	Social Contribution Activities
Child-rearing support	Ministry of Health, Labour and Welfare	Kurumin certification	Social Contribution Activities
Health Management	Ministry of Economy, Trade and Industry	Outstanding Health and Productivity Management Organization (large enterprise category) certification	Social Contribution Activities
Initiatives related to LGBTQ	PRIDE Index	Gold rating	Social Contribution Activities

2021

Product, Activity	Commendation	Result	Theme
Integrated Report	MerComm, Inc.	Bronze Award in the Traditional Annual Report Division of the International ARC Awards 2021	Social Contribution Activities
Child-rearing support	the Minister of Health, Labor and Welfare	“Platinum Kurumin" Certification	Social Contribution Activities
Health and Productivity Management	Ministry of Economy, Trade and Industry	Outstanding Health and Productivity Management Organization (large enterprise category)	Social Contribution Activities
Corporate LGBTQ engagement	The PRIDE Index	Gold	Social Contribution Activities

2020

Product, Activity	Commendation	Result	Theme
The MOW ice cream series	The International Taste Institute (iTQi)	Three-Star Superior Taste Award	Products
Peptide research	The Society for Biotechnology, Japan	Excellent Paper Award	Research Activities
Health and Productivity Management	Ministry of Economy, Trade and Industry	Outstanding Health and Productivity Management Organization (large enterprise category)	Social Contribution Activities
Corporate LGBTQ engagement	The PRIDE Index	Gold	Social Contribution Activities
"PINO Gatcha," a capsule vending machine–like toy that was included as a gift in "Yochien," a Japanese educational magazine for kindergarten-age children	Japan Packaging Institute	2020 Japan Packaging Contest Idea Award	Social Contribution Activities

2019

Product, Activity	Commendation	Result	Theme
KRAFT Pure (Muku) – Mature Cheddar Flavor	The International Taste Institute (iTQi)	Three-Star Superior Taste Award	Products
KRAFT Pure (Muku) – Mature Gouda Flavor	The International Taste Institute (iTQi)	Two-Star Superior Taste Award	Products
Morinaga Jelly series	Mothers' Selection	Grand Prize	Products
Triple Yogurt	Japan Food Journal	The Blockbuster Food Award	Products
Bifidobacterium breve M-16V	Nutra Ingredients ‐ Asia Awards	Infant Nutrition Ingredient of the Year	Research Activities
Research into Bifidobacterium longum BB536	Japan Packaging Institute	Food Immunology Industry Award	Research Activities

2018

Product, Activity	Commendation	Result	Theme
Greek Yogurt PARTHENO Plain (two varieties–with and without sugar)	The International Taste Institute (iTQi)	Two-Star Superior Taste Award	Products
Novel Health Functions of Aloe Vera Gel-derived Phytosterols	Japan Society of Nutrition and Food Science	Technological Research Award	Research Activities
5th Food Industry Mottainai Awards	Japan Organics Recycling Association	Review Committee Chairperson's Award	Social Contribution Activities
Little Angels Expedition Team Exploring Forest and Food program	Corporate Awards for Youth Experience Activity of Japan's Ministry of Education, Culture, Sports, Science and Technology	Judging Panel Encouragement Award	Social Contribution Activities

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