Table 4 Combined values (Stage 2,... | Emerald Publishing

Table 4

Combined values (Stage 2, 2011–2013)

	Wrappers
	Linguistic devices	Contextual discourses and vocabularies found in the reports	Examples from Mitsubishi corporate reports
Language wrapping	2.1.1. Caring and protective language 2.2.1 Ritualistic phrases adding spiritual power	2.1.2 Discourse of the great Eastern Japan Earthquake Vocabulary: the concept of ESG (environmental, social and governance) 2.2.2 Re-framed capital-market discourse towards integration of sustainability and governance into the financial Vocabulary: ESG, financial info and charts 2.2.3 Re-framed sustainability discourse towards integration of environmental, social and governance Vocabulary: ESG	2.1.1a “…we established the Mitsubishi Corporation Disaster Relief Foundation with some of the funds from the Mitsubishi Corporation East Japan Earthquake recovery fund. We established this foundation to provide more flexible and continuous support based on the various needs of affected regions. Besides, carrying on the activities of the Mitsubishi Corporation East Japan Earthquake recovery fund, the foundation will develop new initiatives for reviving industry and creating employment to aid the recovery”. (AR2012, p. 7) 2.1.1b “Although demand for petroleum is declining in Japan, petroleum remains a vital energy lifeline as evidence in the aftermath of the Great East Japan Earthquake”. (AR2011, p. 44) 2.1.2a In the presentation of the CSR & Environmental Affairs Advisory Committee, environmental, social and governance initiatives were articulated in relation to the Great East Japan Earthquake. (https://www.mitsubishicorp.com/jp/en/ir/library/ar/pdf/archives/ar2013.pdf, pp. 85-86) 2.1.2b “In keeping with our “Corporate Responsibility to Society – one of MC´s “Three Corporate Principles” – the company established the “the MC East Japan Earthquake recovery fund”. The purpose of the fund is to provide “support of the regions and victims affected by the Great East Japan Earthquake”. (AR2013, pp. 86) 2.2.1 “…companies are increasingly looking to develop business overseas. The Great East Japan Earthquake may in fact accelerate these moves. In response, MC´s branches and offices in Japan will diversify the roles they play, including drawing on MC´s collective capabilities through cooperation with MC group companies. In this way we will solidify our business platform and, at the same time, work to create new business opportunities”. (AR2011, p. 63) 2.2.2a ESG management of loans and investments: “The screening and review process is an extensive one, talking into account not only financial and legal risks but also environmental, social and governance (ESG) factors”. AR2013, p. 77 2.2.2b Charts presenting ROE, ROA and Earnings per share ratios show gradually decreasing values (https://www.mitsubishicorp.com/jp/en/ir/library/ar/pdf/archives/ar2013.pdf, p. 21) 2.2.3 The section sustainability in Annual Report 2013 starts with the section Corporate Governance as integral part of sustainability and then highlights environmental and social dimensions (https://www.mitsubishicorp.com/jp/en/ir/library/ar/pdf/archives/ar2013.pdf, table of contents on p. 1, details on pp. 64-84)
Social wrapping	2.3.1 Visual presentation of power and articulation of status and legitimacy	2.3.2 CG discourse Vocabulary: CG vocabulary, photos and descriptions of the CG members highlighting the power, status and legitimacy of independent directors and auditors, and international advisory committee	2.3.1 “This includes strengthening management supervision by appointing independent directors and independent corporate auditors, and using the executive officer system to expedite and bolster decision-making and business execution”. (AR2012, p. 64) 2.3.2 Almost half of the corporate governance presentation in the report is dedicated to articulation and visualisation of the voices and roles of independent directors and auditors, and international advisory committee. (https://www.mitsubishicorp.com/jp/en/ir/library/ar/pdf/archives/ar2013.pdf, pp. 70-74)
Temporal wrapping	2.4.1 Division of time and rhetorical use of history	2.4.2 Nationalistic discourse Vocabulary: presentation of old corporate principles and corporate history, linked to modern discourse of corporate efficiency 2.4.4 Discourse of modernity of Japan Vocabulary of management efficiency, ESG measures	2.4.2 “Through corporate activities rooted in the principles of fairness and integrity, Mitsubishi strives to continuously raise corporate value. (…) In order to ensure sound, transparent and efficient management, MC is working to put in place a corporate governance system, based on the Corporate Auditor System that is even more effective”. (AR2011, p. 83) 2.4.4a An ESG measures is presented in numerical terms for the first time along with other financial measures. (https://www.mitsubishicorp.com/jp/en/ir/library/ar/pdf/archives/ar2011.pdf, p. 26) 2.4.4b “We will strive to reduce greenhouse gas emissions by continually implementing new efficiency measures and embracing new technologies”. (AR2013, p. 77)

	Wrappers
	Linguistic devices	Contextual discourses and vocabularies found in the reports	Examples from Mitsubishi corporate reports
Language wrapping	2.1.1. Caring and protective language2.2.1 Ritualistic phrases adding spiritual power	2.1.2 Discourse of the great Eastern Japan EarthquakeVocabulary: the concept of ESG (environmental, social and governance)2.2.2 Re-framed capital-market discourse towards integration of sustainability and governance into the financialVocabulary: ESG, financial info and charts2.2.3 Re-framed sustainability discourse towards integration of environmental, social and governanceVocabulary: ESG	2.1.1a “…we established the Mitsubishi Corporation Disaster Relief Foundation with some of the funds from the Mitsubishi Corporation East Japan Earthquake recovery fund. We established this foundation to provide more flexible and continuous support based on the various needs of affected regions. Besides, carrying on the activities of the Mitsubishi Corporation East Japan Earthquake recovery fund, the foundation will develop new initiatives for reviving industry and creating employment to aid the recovery”. (AR2012, p. 7)2.1.1b “Although demand for petroleum is declining in Japan, petroleum remains a vital energy lifeline as evidence in the aftermath of the Great East Japan Earthquake”. (AR2011, p. 44)2.1.2a In the presentation of the CSR & Environmental Affairs Advisory Committee, environmental, social and governance initiatives were articulated in relation to the Great East Japan Earthquake. (https://www.mitsubishicorp.com/jp/en/ir/library/ar/pdf/archives/ar2013.pdf, pp. 85-86)2.1.2b “In keeping with our “Corporate Responsibility to Society – one of MC´s “Three Corporate Principles” – the company established the “the MC East Japan Earthquake recovery fund”. The purpose of the fund is to provide “support of the regions and victims affected by the Great East Japan Earthquake”. (AR2013, pp. 86)2.2.1 “…companies are increasingly looking to develop business overseas. The Great East Japan Earthquake may in fact accelerate these moves. In response, MC´s branches and offices in Japan will diversify the roles they play, including drawing on MC´s collective capabilities through cooperation with MC group companies. In this way we will solidify our business platform and, at the same time, work to create new business opportunities”. (AR2011, p. 63)2.2.2a ESG management of loans and investments: “The screening and review process is an extensive one, talking into account not only financial and legal risks but also environmental, social and governance (ESG) factors”. AR2013, p. 772.2.2b Charts presenting ROE, ROA and Earnings per share ratios show gradually decreasing values (https://www.mitsubishicorp.com/jp/en/ir/library/ar/pdf/archives/ar2013.pdf, p. 21)2.2.3 The section sustainability in Annual Report 2013 starts with the section Corporate Governance as integral part of sustainability and then highlights environmental and social dimensions (https://www.mitsubishicorp.com/jp/en/ir/library/ar/pdf/archives/ar2013.pdf, table of contents on p. 1, details on pp. 64-84)
Social wrapping	2.3.1 Visual presentation of power and articulation of status and legitimacy	2.3.2 CG discourseVocabulary: CG vocabulary, photos and descriptions of the CG members highlighting the power, status and legitimacy of independent directors and auditors, and international advisory committee	2.3.1 “This includes strengthening management supervision by appointing independent directors and independent corporate auditors, and using the executive officer system to expedite and bolster decision-making and business execution”. (AR2012, p. 64)2.3.2 Almost half of the corporate governance presentation in the report is dedicated to articulation and visualisation of the voices and roles of independent directors and auditors, and international advisory committee. (https://www.mitsubishicorp.com/jp/en/ir/library/ar/pdf/archives/ar2013.pdf, pp. 70-74)
Temporal wrapping	2.4.1 Division of time and rhetorical use of history	2.4.2 Nationalistic discourseVocabulary: presentation of old corporate principles and corporate history, linked to modern discourse of corporate efficiency2.4.4 Discourse of modernity of JapanVocabulary of management efficiency, ESG measures	2.4.2 “Through corporate activities rooted in the principles of fairness and integrity, Mitsubishi strives to continuously raise corporate value. (…) In order to ensure sound, transparent and efficient management, MC is working to put in place a corporate governance system, based on the Corporate Auditor System that is even more effective”. (AR2011, p. 83)2.4.4a An ESG measures is presented in numerical terms for the first time along with other financial measures. (https://www.mitsubishicorp.com/jp/en/ir/library/ar/pdf/archives/ar2011.pdf, p. 26)2.4.4b “We will strive to reduce greenhouse gas emissions by continually implementing new efficiency measures and embracing new technologies”. (AR2013, p. 77)

Source(s): Table created by authors