Constructive dialogue with shareholders and investors/Others

Policy on constructive dialogue with shareholders and investoers

Executive Officers responsible for administration are in charge of dialogue between the Company and shareholders/investors. Each department within the Company coordinates with the officers accordingly in providing necessary information to promote constructive engagement between them.
In terms of providing opportunities for dialogue, we have established briefing sessions with the presence of the President or Executive Officers responsible for administration and individual meetings, and issue an integrated report and other IR materials and disclose information on the corporate website as well to help our shareholders and investors to understand our management strategy and business environment better.
The opinions and requests received from shareholders and investors through dialogue are reported to the Board of Directors on a quarterly basis, and dialogue records are always shared among Directors and Audit & Supervisory Board Members. These opinions and requests are valued to further strengthen our dialogue, and relayed to the management and related departments to use for active review of our business strategies.
During the silent period before announcing our financial results, we restrict dialogue with our shareholders and keep the insider information strictly confidential. Information deemed to be a material fact is managed centrally by the Executive Officers responsible for administration to prevent any leaks. We disclose immediately if the information is determined to correspond to information requiring disclosure as well.

Number of dialogues with investors held in the fiscal year ended March 2024

Target Number of dialogues held (cumulative total)

Coverage analysts

10

Domestic institutional investors

8

Foreign institutional investors

14

Individual investors

6

Total

38

Main topics and concerns of the dialogue

Topics and concerns (FYE March 2024)

• Timeline of the Long-Term Business Plan

• Progress in new businesses and recruitment of personnel

• Disclosure of capital costs

• Improvement of stock price and capital efficiency

• Status of reducing cross-shareholdings

• Strengthening of link between Directors' remuneration and shareholder value

Status of Response

Based on the opinions and suggestions from shareholders and investors, and after discussions at the Board of Directors, we have implemented the following measures.


Measures implemented

• Launched new businesses ahead of schedule

• Disclosed capital costs

• Added ROE achievement level to the KPIs of performance-linked remuneration for Directors

• Promoted recruitment

• Formulated a plan for reducing cross-shareholdings