Relationships with Society

Communication to Shareholders & Investors

We strive to enhance shareholder value in the medium to long term through highly transparent and reliable disclosure as well as sincere communication.

Disclosure of Corporate Information

For the Company, timely and appropriate disclosure to shareholders and investors serves to ensure transparent and fair decision making as well as effective corporate governance functions. We also believe that it contributes to increasing corporate value by promoting public understanding and an appropriate market assessment of the Company.
Therefore, we not only undertake disclosure required by laws and regulations, but also publish information proactively mainly through our website, working in this way to create a system for highly transparent and reliable disclosure.
To ensure that our disclosed information can be easily understood and serves as a useful basis for investment decisions, we adopt reader-friendly language and formats in our materials, and we are improving both financial and non-financial information. We also provide an English language version where the information is considered likely to be of particular importance to non-Japanese shareholders and investors.

Disclosure Policy

Profit Return

We consider return of profits to shareholders as one of the most important management issues. Based on the recognition that enhancement of corporate value through investments for growth is in the common interest of our shareholders, while prioritizing business investment that will lead to sustainable enhancement of corporate value, our basic policy is to distribute profit to shareholders according to profit growth, with a target total payout ratio to Profit attributable to owners of parent before amortization of goodwill 40%.

Shareholder Returns / Dividends

General Meeting of Shareholders

Ahead of the Annual General Meeting of Shareholders, we send out the meeting notices as early as possible, provide enhanced information, post documents on our website in both Japanese and English, and take other measures to ensure that shareholders have fair access to data, adequate information to exercise their rights, and sufficient time for reflection. Moreover, we are working to create an electronic voting environment, with a website where individual shareholders can exercise their voting rights online and an electronic voting platform for institutional investors.

General Meeting of Shareholders

IR Activities

IR Library

Below is an outline of investor relations activities for the fiscal year 2019.

Activity	Frequency	Contents
Interviews with analysts and Japanese and non-Japanese Institutional investors	149 times	Holding individual interviews and web/telephone conferences
Briefings for institutional investors and analysts	4 times	Earnings briefings (4 times)
Briefings for individual investors	4 times	An online briefing was held. We streamed a video and published a transcript of the briefing for people who could not participate on the day, and a total of 8,709 individual investors have watched the video and read the transcript.
Posting IR materials on website IR Information	As appropriate	Posting of materials such as the consolidated financial results and earnings briefings materials, as well as securities reports (quarterly), materials relating to the General Meeting of Shareholders, the IR event calendar, and so on The "For Individual Investors" section of our website was refreshed to provide content for individual investors(only on the Japanese site). Content including the content of the business report has been enhanced. Also accessible using a smartphone.