Strengthening Governance

Dialogue with investors

The Company emphasizes on dialogue with shareholders, investors and analysts, and conducts more than 300 IR meetings a year. In FYE 03/24, against the backdrop of growing interest in Japanese equities from global investors, the company resumed overseas IR, which had been suspended due to the covid-19. In meetings with overseas investors, directors and IR staff speak directly to them in English, without the use of interpreters. We disclose information to overseas investors as much as possible at the same time as we do to Japanese investors, for example by translating materials for investors into English in-house, with some exceptions. We will continue to feed back dialogue with investors and analysts to management to improve our corporate value.

Number of IR meetings (FYE 03/24)
Total number
CEO
IR officer
IR staff
IR meeting with domestic investors
171
81
140
IR meeting with overseas investors
133
37
98
106
SR meeting
8
8
8

We meet with domestic and overseas investors of various investment styles (analysts, fund managers, ESG managers, voting representatives, etc.), and our management team, including the CEO, actively participates in IR meetings to carefully convey our growth story and capital strategy to the capital market. The IR Department continues to improve the disclosure information used in dialogue with investors through discussion with each department.

Feedback to Management and the Company

Opinions are regularly fed back to the company at branch meetings and the Board of Directors meetings, and are utilized in the development of our governance, management, and capital strategies.

Major IR events (From April 2023)
Name of events
Contents
Main speakers
04/2023
Financial Results Briefing for FYE 03/23 and Business Strategy Meeting
Three-Year Plan, Full-Year Results, Business Reorganization
Kashiwaya, Kiyota
07/2023
Large meeting
Comparison between our original plan and analysts' forecasts
Kiyota
07/2023
Conference call to explain financial results
1Q financial results
Kiyota
09/2023
Small meeting
Why we can conduct both profit growth and 100% shareholder returns
Kiyota
10/2023
Conference call to explain financial results
2Q financial results
Kiyota
12/2023
Seminar sponsored by a securities company
PowerX (a venture company engaged in the manufacture and sale of large storage batteries, Commercial power supply, EV charging stations, electric carriers by ships, etc.)
Yoshida
02/2024
Conference call to explain financial results
3Q financial results
Kiyota
02/2024
Outside Director Dialogue
Corporate governance, board discussions, etc.
Yamada (Outside director)
03/2024
Tour of Yume no Kizuna
Introduction of Yume no Kizuna, features of our LP gas operations
Yoshida, Kiyota
04/2024
IR for individual investors
Our Growth strategy and return policy Attractiveness and expectations of the Company from Institutional Investors' Perspective
Kiyota
05/2024
Business Strategy Meeting
Medium-term business strategy and LP market consolidation Energy retail business strategy Platform business strategy
Kashiwaya, Yoshida, Tsuchiya, Kiyota
Outside Directors' Roundtable Meeting (February 2024)

For the first time, we held a discussion meeting between an outside director (Mr. Yamada) and investors/analysts (28 people in total). Mr. Yamada, Director, explained the roles and contributions of outside directors to the Board of Directors and exchanged opinions through a question-and-answer session.

Held a web seminar for Individual Investors (April 2024)

For the first time, we held an online presentation for individual investors. Mr. Kiyota explained the Company's growth strategy and return policy, and Mr. Iwasa of Misaki Investment also participated in the session, explaining the appeal of the Company from the perspective of institutional investors and their expectations.