Dialogue with Shareholders and Investors

We make every effort to ensure timely and appropriate disclosure, by means such as General Meetings of Shareholders, presentation meetings and other IR tools, so that our shareholders and investors have a thorough understanding of our operations and continue to support us over the long term.

IR Policy

We have always been proactive in disclosing information to our shareholders, investors and other stakeholders, and have made it our policy to constantly improve transparency throughout our management activities.
In order to clarify our policy on investor relations even further, in April 2016 we formulated an IR Policy. As well as underlining our legal obligations with regard to disclosure, the policy states that we will make every effort to effectively disclose voluntary information too. Other commitments include disclosing information quickly, accurately and fairly, setting aside a "quiet period" to ensure that earnings-related information is disclosed fairly, and providing ways to feed back opinions and perceived issues from shareholders and investors to management.

Dialogue with Shareholders

General Meetings of Shareholders

We regard our Ordinary General Meeting of Shareholders as an invaluable opportunity for management staff to talk directly with shareholders. That is why we send out a convocation notice as early as possible, and provide details on our website, so that our shareholders have sufficient time to think about matters to be reported and resolved at the meeting. We have continued to expand our efforts to disclose information. Since 2012, we started posting information on our website even earlier and adding new content to information sent out with our annual business report, including details of our policy regarding the determination of remuneration and status of corporate governance.
As well as enabling shareholders to exercise their voting rights in writing or online, we also use an electronic voting platform for institutional investors both in Japan and overseas.
In the General Meeting of Shareholders, we use slides and narration to make the contents of our presentations easier to follow. We also publish shareholder voting figures for all resolutions after the meeting, via channels such as our website.

Distribution of Shareholders Distribution of Shareholders

* The total may not add up to 100% due to rounding up or down of individual figures.

Dialogue with Investors

Meetings for Investors

We organize earnings information meetings for institutional investors and securities analysts to coincide with our quarterly earnings announcements. In addition to providing a breakdown of our earnings and explanations regarding matters such as management policy, we also accept questions and comments from participants so as to reflect their views in our IR activities via channels such as feedback to management. We also organize facility tours on an ongoing basis and arrange interviews with institutional investors and securities analysts at home and abroad. As exercises in active communication, such interviews enable us to clarify operating strategies and other aspects of our business and engage in constructive exchanges of opinions.
We have been participating in information meetings for individual investors since fiscal 2010.
In May 2017, we were ranked 2nd by the U.S.-based Institutional Investor investment information magazine in its ratings of "Best IR Professional" in the Metal category in the 2017 All-Japan Executive Team, which is targeted at Japanese companies. We make every effort to provide timely and accurate financial information in our day-to-day IR activities, and recognize that people involved in the market have evaluated our swift handling of requests from securities analysts and institutional investors in a positive way.
We are committed to maintaining an active IR schedule and ensuring adequate disclosure in the future, for the benefit of all of our investors.

A presentation at this year's executive information meeting (President Takeuchi)A presentation at this year's executive information meeting (President Takeuchi)

IR Activities in Fiscal 2017
Description Number of times during
fiscal 2017
Interviews with institutional investors 252
Overseas IR visits (Europe, USA, Asia) 29
Facility tours for institutional investors 6
Earnings information meetings for individual investors 5