For the sustainable development of our society, simultaneous achievement of economic efficiency, environmental protection and social responsibilities in each corporation should be attained. These targets, however, have some strong interdependency. It is difficult to find the optimal solution that satisfies these targets. In this paper, the authors propose a sustainability oriented value chain combining corporate activities with product lifecycles, and define two types of value chain; horizontal value chain and vertical value chain. Based on these value chains and the objective functions, the optimal value chains can be selected as a compromised solution or the Pareto-optimum solution throughout the corporate activities by a proposed multi-objective dynamic programming method.