Sustainability

Sustainability Top

Corporate Governance

Basic approach

In order to improve the corporate value of the entire group by strengthening the group's strategic functions, promoting speedy management, and balancing the optimization of the entire group with the optimization of each business, the Group will conduct appropriate corporate governance in accordance with the "Basic Policy on Corporate Governance." We are working to build governance.
By choosing the structure of a company with Audit and Supervisory Committee, the audit and supervisory committee members have voting rights on Board of Directors, increasing the fairness and transparency of management and strengthening the supervisory function of Board of Directors. Additionally, by adopting Operating Officers system (term of one year), we have clarified the division of roles between management oversight and business execution functions, speeding up decision-making and strengthening oversight of business execution.
Meanwhile, the core operating companies, TOYOCOLOR Co., Ltd., TOYOCHEM Co., Ltd., and TOYO INK Co., Ltd., regularly hold operating company management meetings attended by Director of the holding company, and discuss management policies and strategies. We share information and discuss executive issues and achievements.

The Company has established a basic policy regarding corporate governance in order to contribute to the sustainable growth of the Company, its subsidiaries, and its affiliated companies (hereinafter collectively referred to as the "Company Group") and the improvement of its corporate value over the medium to long term.

Chapter 1 General rules

Article 1 (Basic philosophy regarding corporate governance)

From the perspective of achieving sustainable growth for our group and improving corporate value over the medium to long term, we will continue to work to improve our corporate governance based on the following basic philosophy.

  1. We respect the rights of shareholders and strive to ensure substantial equality for shareholders.
  2. Aim for appropriate collaboration with various stakeholders.
  3. Ensure transparency through appropriate disclosure of company information (including non-financial information).
  4. Board of Directors recognizes its fiduciary responsibility to shareholders and strives to maintain and improve the functions Board of Directors.
  5. Engage in constructive dialogue with shareholders whose investment policies are consistent with medium- to long-term shareholder interests.

Chapter 2 Rights and Equality of Shareholders
guarantee

Article 2 (General Shareholders’ Meeting)

In order to enable shareholders to fully consider the proposals General Shareholders’ Meeting and exercise their voting rights appropriately, the Company sends out convocation notices for the general General Shareholders’ Meeting at least three weeks in advance of the general meeting. and disclosing the convocation notice on our website.

2 The Company will strive to improve the environment for shareholders to exercise their voting rights, such as by utilizing the electronic voting rights platform and by translating reference documents for notices of convocation General Shareholders’ Meeting into English.

Article 3 (Ensuring shareholder rights and equality)

The Company will take appropriate measures to ensure that shareholders' rights are substantially secured, and strive to create an environment in which they can exercise their rights. Also, consideration will be given to the substantial equality of shareholders, including minority shareholders and foreign shareholders.

Article 4 (Cross-shareholdings)

The Company strategically holds stocks in companies that it deems necessary as part of its management strategy, such as business alliances, maintaining and strengthening business relationships, and stable procurement of raw materials. The economic rationality of these strategically held listed stocks will be verified for each individual stock from a medium- to long-term perspective at Board of Directors every year, and stocks whose holdings have become less meaningful will be sold.

2 Regarding the exercise of voting rights for cross-held listed stocks, whether each proposal contributes to improving the mid- to long-term corporate value of the issuing company and whether it contributes to the common interests of shareholders, including the Company. In addition, each proposal will be exercised appropriately after qualitatively and comprehensively considering its impact on the Group's management and business. Furthermore, if there are special circumstances at the issuing company, such as significant damage to its corporate value or serious compliance violations, or if there is a concern that the company's corporate value as a shareholder may be damaged, we may hold dialogue with the issuing company, etc. After gathering sufficient information, carefully judge the pros and cons.

Article 5 (Capital Policy)

In our business plans, we accurately grasp the cost of capital, disclose business targets such as overseas sales ratio, operating profit margin, ROE, and balance of interest-bearing debt, and in order to achieve these targets, we will use operating, investment, and financial cash flows. We will implement financial strategies that take into consideration the balance between In this context, our capital policy is to maintain a sufficient level of shareholder equity in order to continuously improve shareholder value, enable flexible responses to business opportunities, and prepare for rapid changes in the economic environment, etc. Our basic policy is to maintain the following.
Regarding shareholder returns, we will place emphasis on continuing stable dividends while striving to ensure a long-term sustainable management base. Regarding capital policies that result in changes in control or large-scale dilution, the board Board of Directors will deliberate on their rationality and provide sufficient explanations to shareholders, investors, and other stakeholders.

Article 6 (Related Party Transactions)

The Company will carry out all transactions, including those with related parties, in accordance with internal regulations and after obtaining the necessary settlement. Board of Directors will then monitor transactions with related parties to ensure that they do not harm the common interests of the Group and its shareholders.

Chapter 3 Appropriate collaboration with stakeholders

Article 7 (Corporate Code of Conduct)

Our company has established the "artience group Philosophy System," which describes the ideal vision of our group and the basic way of thinking and behavior required of our group's officers and employees, and which all officers and employees must abide by as members of our group. We have established the `` artience group Code of Ethics and Conduct,'' which outlines the rules that should be followed, and Board of Directors regularly reviews its implementation status.

Article 8 (Relationship with stakeholders)

In accordance with the group philosophy system and ethical code of conduct set forth in the previous article, we will provide security, safety, and satisfaction to our entire supply chain, including business partners, customers, and consumers, and protect the rights and diversity of all employees involved in our group's business activities. Our group companies strive to respect human rights, contribute to the preservation and restoration of the global environment, contribute to improving the sustainability of society through all corporate activities, and improve shareholder satisfaction through information disclosure and constructive dialogue. Aiming to improve value.

Article 9 (Sustainability)

The Company will establish an appropriate promotion and enforcement system, including Sustainability Committee, to address issues related to sustainability, and Board of Directors will review the status of implementation.
2 We identify and evaluate social issues that are important to our group and have high social demands as important issues (materiality), and proactively and proactively disclose the content and results of corresponding measures. do.

Article 10 (Ensuring diversity)

Recognizing that mutual learning through diverse values, thoughts, and ideas and the synergistic effects thereof are the source of our sustainable growth, we ensure the diversity of our employees and draw out diverse values. Strive to create a better workplace and promote the active participation of female employees.

Article 11 (Whistleblowing system)

The Company shall promptly report to Audit and Supervisory Committee any reports that pertain to Director or Operating Officers among the reports received through the internal or external contact point based on the internal reporting system.

2 The Company will protect reporters who have made a report based on the whistleblowing system described in the previous paragraph in accordance with internal regulations regarding whistleblowing.

Chapter 4 Corporate Governance System

Article 12 (Role of Board of Directors)

Board of Directors determines important management matters, including the basic policies and strategic direction of the Group, as well as provides an environment for the execution of duties by Director and Operating Officers, and provides highly effective supervision. We will also improve the standard of our internal control system, which will lead to increased corporate value.

Director evaluate the effectiveness of Board of Directors once a year. Additionally, third-party evaluations of Board of Directors will be conducted as necessary.

Article 13 (Composition of Board of Directors)

Board of Directors shall be composed of appropriate personnel, taking into consideration diversity and expertise within the number of members specified in the Articles of Incorporation, and at least one-third of Director shall be Independent Outside Director compliant with the independence standards separately established by the Company.

Article 14 (Composition of Audit and Supervisory Committee)

Audit and Supervisory Committee The number of members of the Audit Committee (hereinafter referred to as "Audit Committee Members") shall be composed of personnel who can ensure the effectiveness of the audit within the number of members stipulated in the Articles of Incorporation, a majority of the Audit Committee Members shall be Outside Director appointed in accordance with the independence standards separately established by the Company, and at least one of the Audit Committee Members Director shall be an individual with appropriate knowledge of finance and accounting.

Article 15 (Advisory Committee)

The Company shall establish an advisory committee headed by Outside Director as a voluntary committee.The advisory committee receives consultation from Board of Directors Directors regarding Director selection process, executive compensation, etc., and deliberates on the appropriateness of such matters. I do.

Article 16 (Training)

The Company will provide training and information necessary for Director to appropriately fulfill their roles and functions.

Chapter 5 Dialogue with shareholders

Article 17 (Dialogue with shareholders)

From a medium- to long-term perspective, the Company will engage in honest dialogue with shareholders in order to achieve sustainable growth and increase corporate value.

2 In order to promote constructive dialogue, our company will establish the following systems and implement the following initiatives.

  1. Designate Director in charge of IR to oversee activities.
  2. A department in charge of general shareholders and a department in charge of investors will be established to serve as external contact points and to work together with related departments of the Group to enhance dialogue.
  3. The means of dialogue will be individual interviews, as well as briefing sessions for investors, etc., in an effort to promote understanding of the Company's management policies, performance, business content, etc.
  4. The content of the dialogue will be shared among executives through methods such as regular reporting to Board of Directors.
  5. Information will be disclosed proactively and fairly in accordance with the information disclosure policy. Consideration will be given to managing insider information, such as by establishing a silent period during dialogue.

Chapter 6 Others

Article 18 (Supplementary Provisions)

Board of Directors may amend or abolish this basic policy.

Established on November 9, 2015
December 14, 2018 Partial revision
Partially revised November 12, 2021
Partially revised March 23, 2022
Partially revised on January 1, 2024 (resolved at Board of Directors on December 8, 2023)

Corporate Governance Report

Corporate Governance System

Corporate governance system (FY2023)

Corporate governance system (FY2023)

Main organization/meeting structure and roles

Main organization/meeting system Structure  role
Board of Directors
2022
Number of events held: 17 times
Term: 1 year
Chairperson: President and Representative Director
Members: 11 people (including 3 women): 7 Director who are not audit and supervisory committee members (including 3 Outside Director), and 4 Director who are audit and supervisory committee members (including 3 Outside Director)
It is held once a month as an important decision-making body for the management of the entire group, and also holds extraordinary meetings as necessary to decide on matters stipulated by law and important management matters, and to review the status of business execution. I am supervising.
Audit and Supervisory Committee
2022
Number of events held: 10 times
Term: 2 years
Members: 4 members of the Audit and Supervisory Committee (including 3 Outside Director). In cooperation with the Group Audit Office, which is an internal audit department, and Accounting Auditors, we audit the legality and appropriateness of Director' execution of their duties.
The Group Audit Office, which is an internal audit department, reports directly to the representative Director and conducts audits to check whether the operations of each group company comply with laws and regulations and the Articles of Incorporation and are appropriate, and whether the internal control system is functioning effectively. The results of the audit are reported to the representative Director and Director in charge of internal control, as well as to Audit and Supervisory Committee. In addition to reporting audit results, we also hold information exchange meetings with Accounting Auditors from time to time. In addition to regular reports at Audit and Supervisory Committee, we also hold information exchange meetings with the Group Audit Office, which is the internal audit division, from time to time.
Group Management Committee
2022
Number of events held: 26 times
Members: Directors, Director and Supervisory Committee members, Operating Officers who oversee or are in charge of important management functions, and presidents of core operating companies. Group Management Committee The Board of Directors is a consultative and decision-making body similar to the and makes important decisions on business execution.
In addition, since Group Management Committee mainly discusses the Group's business strategies and business execution issues and performance, Operating Officers, the head of Finance & Accounting Department, the head of Human Resources Department, and representatives of the core operating companies TOYOCOLOR, TOYOCHEM, and TOYO INK, who do not attend Board of Directors, are in charge of technology, research, and development.
Regarding nomination and remuneration
advisory committee
2022
Number of events held: 1 time
Members: 2 internal Director, 3 Outside Director (one of whom is the chairperson) Prior to the regular General Shareholders’ Meeting, this committee meets to deliberate on Director candidates and their remuneration. The committee, which has a majority of Outside Director, appoints and reports on officers.

Members of the corporate governance committee (as of July 1, 2023)

◎:Chairman/Chairman ◯:Members

position full name Board of Directors Audit and Supervisory Committee Advisory Committee on Appointment and Remuneration
Chairman and Representative Director Katsumi Kitagawa
President and Representative Director
Group CEO
Satoru Takashima
Senior Managing Director
In charge of corporate department
Hiroyuki Hamada
Director
In charge of quality assurance, production, environment, sustainability, purchasing, and logistics
Tetsuaki Sato
Outside Director Shingo Kaneko
Independent Outside Director Chise Onodera
Independent Outside Director Tomoko Adachi
Director, Audit and Supervisory Committee member (full-time) Toshiaki Hirakawa
Leading Independent Outside Director Yutaka Yokoi
Independent Outside Director Keiko Kimura
Independent Outside Director Minoru Matsumoto

List of officers (reasons for selection/skill matrix)

Standards for independence of outside officers

Attendance status at the 2022 Board of Directors

position full name Number of attendance Attendance rate
Chairman and Representative Director Katsumi Kitagawa (17 times/17 times) 100%
President and Representative Director, Group CEO Satoru Takashima (17 times/17 times) 100%
Senior Managing Director in charge of Human Resources, Finance, General Affairs, and Audit Office Yuya Aoyama (17 times/17 times) 100%
Managing Director, Corporate Planning, Legal Affairs, Public Relations (IR) Hiroyuki Hamada (17 times/17 times) 100%
Outside Director Shingo Kaneko (17 times/17 times) 100%
Independent Outside Director Chise Onodera (15 times/17 times) 88%
Independent Outside Director Shigesuke Ikegami (17 times/17 times) 100%
Director, Audit and Supervisory Committee member (full-time) Toshiaki Hirakawa (17 times/17 times) 100%
Leading Independent Outside Director Yutaka Yokoi (17 times/17 times) 100%
Independent Outside Director Keiko Kimura (17 times/17 times) 100%
Independent Outside Director Minoru Matsumoto (16 times/17 times) 94%

Complying with the Corporate Governance Code

Evaluation of the effectiveness of Board of Directors

In order to ensure that corporate governance functions effectively, we conduct a survey of Director to analyze and evaluate the overall effectiveness of Board of Directors, and work to improve Board of Directors based on identified issues.
In 2023, we conducted a survey with the involvement and advice of an external organization, and based on the results, Board of Directors discussed the results and made a final evaluation.

Implementation process
Target audience All members Board of Directors: 7 Director who are not audit and supervisory committee members (including 3 outsiders) and 4 Director who are audit and supervisory committee members (including 3 outsiders), totaling 11 people.
Evaluation method Anonymous survey
Implementation period Survey response period: January 13, 2023 to January 26, 2023
Survey question items
  • The form of Board of Directors
  • Composition of Board of Directors
  • Management of Board of Directors
  • Board of Directors discussion
  • Board of Directors monitoring function
  • Exercising the functions of Outside Director (including audit and supervisory committee members)
  • Support system for Director (including audit and supervisory committee members)
  • training
  • Dialogue with shareholders (investors)
  • own efforts
  • Operation of Advisory Committee on Appointment and Remuneration
Regarding improvements to the previous survey
  • In the previous effectiveness evaluation conducted in the form of a questionnaire in January 2022, there was an opinion that more creativity was needed in explaining matters reported by Board of Directors (contents of Group Management Committee) to Outside Director, and in FY2022, Outside Director In response, we have created an opportunity to explain in detail the matters to be reported Board of Directors in advance.
    As a result, we were able to obtain the opinion that ``information is now provided more appropriately'' in this survey.
Evaluation results/issues
  • Overall, positive evaluations were obtained, such as active discussions and exchange of opinions at Board of Directors and compliance with the ideal form of Board of Directors that emphasizes supervisory functions, and overall the effectiveness of Board of Directors as a whole was ensured. We have confirmed that it is.
  • Issues raised include training opportunities for executives, feedback to Board of Directors on the status of dialogue with shareholders, and the operation of Advisory Committee on Appointment and Remuneration. We will work on these improvements during fiscal 2023 and verify the status of our response to the issues in the next year's survey.

Executive compensation system

The Company recognizes the executive compensation system as an important matter in corporate governance, and has established the system based on the following basic policy, and operates the system while incorporating an objective perspective through Advisory Committee on Appointment and Remuneration Masu.

  1. The level must be in consideration of the balance with economic conditions and business results.
  2. Must be at a level that allows us to secure excellent managers to increase corporate value.
  3. A remuneration system that embodies the management philosophy and reflects the medium- to long-term management strategy, and strongly motivates sustainable growth.
  4. Incorporate a system that reflects performance linkage and motivates the achievement of public performance.
  5. Designed with fairness and rationality from the perspective of accountability to stakeholders, and decisions made through an appropriate process with increased objectivity and transparency.

Decision process for executive compensation system

Executive compensation is determined by a resolution of Board of Directors after the draft is presented by Director, which is delegated to Advisory Committee on Appointment and Remuneration each fiscal year, and the evaluation process and results are discussed and reported by .

Overview of executive compensation

From the perspecti         ve of focusing on Director Outside Director ensuring transparency, our company's Director remuneration consists of "basic remuneration," "performance-based remuneration," and "restricted stock remuneration." It consists of "rewards". The total remuneration for Director (excluding Director who are members of the Audit and Supervisory Committee), as resolved at the Ordinary General General Shareholders’ Meeting held on March 23, 2022, shall be no more than 500 million yen per year (including no more than 100 million yen Outside Director), and no more than 100 million yen for outside directors. The total remuneration for a certain Director is less than 100 million yen per year. Additionally, the total amount of monetary remuneration claims to be paid as restricted stock compensation to Director (excluding Director who are audit and supervisory committee members and Outside Director) is set at 100 million yen or less per year, in addition to the 500 million yen per year limit. .

  • Basic remuneration is a monthly fixed remuneration in cash and is determined based on position.
  • Performance-linked remuneration incorporates a system that reflects the evaluation of consolidated performance, and is paid as short-term incentive remuneration as monthly remuneration. This allowance is provided to internal Director who are not members of the Audit and Supervisory Committee.
  • Restricted stock compensation is intended to share the benefits and risks of stock price fluctuations with shareholders, and to further increase motivation and contribution to improving the company's medium- to long-term performance and increasing corporate value by demonstrating a healthy entrepreneurial spirit. This is long-term incentive remuneration for internal Director who are not Audit and Supervisory Committee members.

The proportions of each compensation component (standard amount when performance-based compensation targets are achieved 100%) are designed to be 65% base compensation, 35% performance-based compensation, and 5% restricted stock compensation.
Director who are members of the Audit and Supervisory Committee receive only basic remuneration, with an upper limit of 100 million yen per year, in consideration of their responsibilities and roles in supervising and auditing the execution of business.

Amount of remuneration for Director and auditors (FY2022)

Officer classification Total amount of remuneration, etc.
(One million yen)
Total amount of compensation by type (million yen) Number of eligible officers
(given name)
fixed remuneration
(basic remuneration)
variable compensation
(performance-based compensation)
With transfer restrictions
stock compensation
Director (excluding Director who are audit and supervisory committee members)
(including Outside Director)
293
(34)
196
(34)
85
(-)
11
(-)
11
(6)
Director (Audit and Supervisory Committee Member)
(including Outside Director)
40
(22)
40
(22)
4
(3)
Auditor
(including outside auditors)
20
(8)
20
(8)
5
(3)
total
(including outside officers)
353
(64)
256
(64)
85
(-)
11
(-)
Total 20
(12 in total)

*The above amount includes two Director and five corporate auditors who retired at the conclusion of the ordinary General Shareholders’ Meeting held on March 23, 2022.

その他の取り組み

  • Implementation of training for executives
  • Successor development plan for CEO, etc.
  • Appointment and dismissal of senior management and nomination of Director candidates
  • Support system for Outside Director

Thoughts on cross-shareholdings

The economic rationality of cross-shareholdings is verified by Board of Directors every year. We will examine the benefits and trading conditions of holding in comparison to the cost of capital for each individual stock, and if we determine that holding is not appropriate, we will reduce our holdings after taking into consideration the situation of the company and market trends. .
Regarding the exercise of voting rights for cross-shareholdings, we will consider whether each proposal will contribute to improving the medium- to long-term corporate value of the issuing company, whether it will contribute to the common interests of shareholders, including the Company, and We will appropriately exercise each proposal after qualitatively and comprehensively considering its impact on the management and business of our group. In addition, if there are special circumstances at the issuing company, such as significant damage to corporate value or occurrence of serious compliance violations, or if there is a concern that the company's corporate value as a shareholder may be damaged, we may hold dialogue with the issuing company, etc. After gathering sufficient information, we will carefully judge the pros and cons.

Investment stocks held for purposes other than pure investment purposes

Number of brands
(Brand)
of the amount recorded on the balance sheet
Total amount (million yen)
unlisted stocks 50 780
Stocks other than unlisted stocks 45 17,704

Information on investment stocks, such as the number of shares for each brand of specified investment stocks and deemed holding stocks, and the amount recorded on the balance sheet.

Brand name Current fiscal year Previous business year Purpose of holding, quantitative holding effect
and the reason for the increase in the number of shares
Whether or not you own shares of our company
Number of shares (shares) Number of shares (shares)
Amount recorded on balance sheet (million yen) Amount recorded on balance sheet (million yen)
Toyo Seikan Group
Holdings Co., Ltd.
3,798, 969 3,798, 969 We are involved in transactions related to polymer coatings, and we hold this property for the purpose of maintaining and strengthening business relationships. Yes
6, 161 5, 215
Nippon Shokubai Co., Ltd. 904, 547 904, 547 We hold this property for the purpose of stable procurement of raw materials. Yes
4,776 4,812
Lintec Co., Ltd. 414, 720 414, 720 The Company conducts transactions in polymer and processing-related businesses, and holds this property for the purpose of maintaining and strengthening business relationships. Nothing
890 1,092
NISSHA Co., Ltd. 457, 894 457, 894 The Company conducts transactions in the packaging-related business and holds the shares for the purpose of maintaining and strengthening business relationships. Yes
837 764
Mitsubishi UFJ Finan Co., Ltd.
Shar Group
795, 420 795, 420 It is a major financial institution and is held for the purpose of facilitating smooth financing. Nothing
(*1)
707 497
Kyodo Printing Co., Ltd. 216, 920 216, 920 The Company conducts transactions in the packaging-related business and holds the shares for the purpose of maintaining and strengthening business relationships. Nothing
596 621
japan paint hall
Dings Co., Ltd.
550,000 550,000 We are involved in business related to color materials and functional materials, and we hold these assets for the purpose of maintaining and strengthening business relationships. Nothing
571 689
Marubeni Corporation 266, 851 266, 851 We hold this property for the purpose of stable procurement of raw materials. Nothing
(*1)
404 298
Osaka Organic Chemical Industry Co., Ltd. 175,000 175,000 We hold this property for the purpose of stable procurement of raw materials. Yes
334 581
Sumitomo Mitsui Trust Holdings Co., Ltd. 69, 024 69, 024 It is a major financial institution and is held for the purpose of facilitating smooth financing. Nothing
(*1)
316 265

*1 The holding company does not hold shares in our company, but its subsidiary holds shares in our company.

Dialogue with shareholders and investors

The Company considers shareholders and investors to be important stakeholders, and in addition to disclosing information in a timely and appropriate manner, the Company engages in sincere dialogue with shareholders and investors in order to achieve sustainable growth and increase corporate value, and utilizes the valuable opinions it receives to improve management.

The basic policy and the establishment of systems and initiatives to promote constructive dialogue are clearly stated in the "Basic Policy on Corporate Governance" (Article 17, Dialogue with Shareholders), and we will continue to implement them based on this policy.

Information disclosure is carried out proactively and fairly in accordance with the Information Disclosure Policy.

Details of IR and SR activities (FY2023)

The main IR and SR activities in FY2023 (fiscal year ended December 2023) are as follows.

Primary responders

Group CEO, Director in charge of Corporate Divisions, Operating Officers in charge of IR, Officer in charge of business, Department in charge of IR, etc.

Summary of shareholders and investors engaged in dialogue

Domestic and Overseas Institutional Investors, Securities Analysts, Individual Investors

Main activities

activity number of times details
Financial results briefings for analysts and institutional investors, business briefings 2 times
  • Semi-annual financial results briefings were  held, including live streaming.
  • In the first half of FY2023, we held a business briefing on the CNT dispersions business for lithium-ion batteries.
  • Total number of participants: Approx. 200
Individual interviews with domestic and overseas institutional investors and analysts Approximately 100 times in total Individual interviews were conducted on a visit, in the office, and online (WEB or telephone).
Briefing session for individual investors 1 time Briefings were held and materials were posted on the website for individual investors.
General Shareholders’ Meeting 1 time Conduct hybrid participatory virtual General Shareholders’ Meeting.
Disseminating information on the website suitability Financial results, financial results briefing materials, General Shareholders’ Meeting-related materials, video distribution and transcriptions, annual securities reports, quarterly reports, integrated reports, shareholder newsletters (to shareholders), timely disclosure materials, etc.
Sponsored Research Reports (4 times a year, Japanese and English)

Key themes and interests of the dialogue

  • Performance Results of Existing Businesses and Future Prospects
  • Progress of Strategies Based on the Medium-Term Management Plan SIC-II
  • Management with an awareness of capital costs and stock prices, especially ROE improvement and capital policy
  • Our Approach to Shareholder Returns
  • Request to hold a business briefing session specializing in future focus projects

Implementation of feedback to management and Board of Directors

  • The Director in charge of corporate affairs reported on the opinions and dialogues of institutional investors and analysts on Board of Directors. Share information, discuss and provide feedback with Director and Outside Director. (Semi-annually)
  • Quarterly reporting of dialogue to management and related departments.
  • Reporting on the contents and results of individual investor briefings (on a case-by-case basis)

Matters incorporated based on dialogue and feedback

  • Holding of business briefing on CNT dispersions for lithium-ion batteries
  • Summary of the previous medium-term management plan SIC-II at the financial results briefing, and explanation of the progress and results of each strategy
  • Disclosure of Business Portfolio Transformation, Capital Policy, Cash Allocation, and Shareholder Return Policy in Medium-Term Management Plan artience 2027
  • Holding quarterly financial results briefings (from 2024)
  • Organizational changes to strengthen IR (transfer of IR functions from Corporate Communication Department to Corporate Planning Division)