Conducted seven dialogues with five institutions (seven hours total) during FY2022.
|Key responders in dialogue with shareholders||CEO, CFO, heads of business sectors and Outside Directors|
|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.
|Key themes of dialogue and shareholders' matters of interest||Key matters of interest||
|Concrete details of dialogues||Outline of dialogues|
||Although there was a crisis caused by the spread of COVID-19 infections from the first year of the medium-term management plan VISION 2023, the Group was able to revise its way of thinking of the structure of fixed costs, the business structure and expenses of the Company, and advance their visualization in each business division.
Additionally, by having engaged in management foundation reforms such as Monozukuri (manufacturing) Reforms and Supply Chain Management Reforms, the Group was able to exit from disruptions in supply chains ahead of others and return business activities to normal, resulting in the communications systems business, which the former Kenwood had been founded to run, making great strides.
||The management is thinking that the business portfolio should be redefined from multiple angles, such as by assessing issues with each business and placing each of them either as a core growth business or a business to keep as a cash cow or one that should be terminated, based on the indicators of business potential and capital efficiency.
In addition, the management intends to make revisions by incorporating the business value that outsiders find and the viewpoint of cash flows, which are the so-called investor perspectives or outsider points of view, and specifically, the indicators of EBITDA, multiples, etc.
||The Group has not yet reached the level of applying for certification from the angles of the Task Force on Climate-related Financial Disclosures (TCFD) and Science Based Targets (SBT), but we have continued discussing what are potential risks, and so on, in our internal environmental meetings.
Management thinks that the further deepening of this discussion will lead the Group to start a move toward participation in TCFD and certification in SBT.
(Afterward, the Group expressed its support for the recommendations of TCFD in March 2023.)
|Status of giving management and the Board of Directors feedback on shareholders' opinions and concerns that were ascertained through dialogue||The Public Relations and IR Group summarizes the dialogue, and the CEO reports on it at Board of Directors meetings to share information among Directors and Outside Directors.|
|Matters incorporated, based on dialogue and feedback||In formulating the medium-term management plan VISION 2025, we first set long-term goals, then backcast and established medium-term goals. Then, we devised a way to demonstrate the goals in presentation materials in a more clearly reasoned fashion.|