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Dialogue with Shareholders
Status of Dialogue between Shareholders and Management, etc., in FY2024
Conducted ten dialogues with eight institutions (ten hours total) during FY2024.
| Key responders in dialogue with shareholders | CEO, CFO, CTO, heads of business sectors and Outside Directors | |
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| Outline of shareholders with whom we had dialogue | Domestic and overseas institutional investors Questioners: Staff in charge of stewardship, ESG analysts, staff in charge of research on socially responsible investment, equity analysts, etc. |
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| Key themes of dialogue and shareholders' matters of interest | Key matters of interest |
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| Concrete details of dialogues | Outline of dialogues | |
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Our greatest concerns are the economic impact on the U.S. itself and the impact on our supply chain. We will try to minimize that impact through means such as price adjustments. | |
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We position this business as one of the growth drivers in our business portfolio, and we aim to improve profit margins by increasing the sales share of high-margin Overseas OEM Business. The core of the Overseas OEM Business is our Group company ASK Industries, S.p.A., which handles in-vehicle speakers, amplifiers, antennas, wire harnesses, and other products in response to changes in the market, led by EV adoption. In the Aftermarket Business, where the market is contracting, we will thoroughly pursue efficiency improvements in development, production, and sales systems. | |
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Under the current Medium-term Management Plan "VISION 2025," our target shareholder return ratio is approximately 60% share repurchases and 40% stock dividends. However, we will consider revising this based on stock price levels in the future. | |
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We are pursuing a redefinition of the business portfolio based on the concept of ROIC management. We are discussing how to evaluate the viability of each business based on growth potential and capital efficiency, and ways to shift management resources to businesses that will drive growth. | |
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We have already discussed this and plan to incorporate ESG factors starting in FY2025. | |
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In response to the requirements of the Corporate Governance Code regarding the composition of the Board of Directors, we are discussing the necessary human resources while considering the skills matrix and diversity in line with our business. | |
| Status of giving management and the Board of Directors feedback on shareholders' opinions and concerns that were ascertained through dialogue | Our division in charge of IR summarizes the dialogue and provides reports on it at Board of Directors or shares information with Directors and Audit & Supervisory Board Members via email. | |
| Matters incorporated, based on dialogue and feedback | Reflected the content upon elements such as the maximum number of Directors, the ratio of Outside Directors, and the diversity of the Board of Directors. Improvements were made to the content of the Integrated Report by reflecting the point of the matters were indicated. Various initiatives for sustainability are being undertaken. With regard to these various initiatives, we have made improvements which allow us to always have the ability to disseminate information from the perspective of investors via IR and SR activities. | |
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