[As of September 30, 2024]
In order to win the understanding and the trust of all stakeholders including shareholders and investors, the Company also believes that the timely and appropriate disclosure of information (financial and non-financial information) that forms the basis for dialogue (face-to-face interviews) is a duty of any company and is essential also from the perspective of corporate governance.
In disclosing information, the Company pays attention to the following points:
- Improving and establishing an information disclosure system
- Information disclosure based on careful planning and appropriate decision and approval processes
- Disclosure of information that is deemed to be important beyond disclosure required by laws and regulations
- Accurate, clear and useful disclosures
The Company has a system in place where the department in charge of IR coordinates on a day-to-day basis with other departments and group companies and also coordinates with the departments in charge of legal affairs and management strategies which serve as the secretariat for the Board of Directors, the Board of Managing Directors, the Audit and Supervisory Committee as well as for the Internal Control Committee and other committees in an effort to widely come in contact with management information across the organization and to carry out information collection/compilation and the preparation of materials, etc., that are necessary for dialogue (face-to face interviews).
- Department in charge: Department in charge of IR
- Officer in charge: Managing Executive Officer and General Manager of Management Strategy Unit
- Persons in charge of dialogue (face-to-face interviews): President and Executive Officer, Director and Senior Managing Executive Officer in charge of finance and accounting, and managers in charge at the department in charge of IR
Constructive dialogue (face-to-face interviews) with shareholders, investors and other market participants build relationships of mutual trust, and is positioned as an important element contributing to the sustained growth and improvement of medium- to long-term corporate value of the Company. As a general rule, the Company promptly responds to any request for dialogue (face-to-face interviews) to the extent reasonable after sufficiently considering its purpose. The Company also endeavors to create opportunities for constructive dialogue (face-to-face interviews) through proactive approaches to institutional investors (especially shareholders).
Based on the demands and main interests (cost of capital, ROE, enhancement of corporate value, stock price, etc.) of shareholders, investors and other market participants, the Company conducts face-to-face interviews through a system involving the President and Executive Officer, the Director and Senior Managing Executive Officer in charge of finance and accounting, and managers in charge at the department in charge of IR.
Recently, the Company held dialogue (face-to-face interviews and online interviews) with four overseas institutional investors between February 2024 and June 2024, involving the President and Executive Officer and managers in charge at the department in charge of IR. The main topics of the dialogue were related to recent financial results, the Company’s capital policy and shareholder returns, and enhancement of corporate value.
The Company actively delivers information on management policies and strategies, financial results, etc., and creates opportunities to promote the understanding of the Company and cultivate “CRESCO fans” through mutual communication.
- Financial results meeting for institutional investors and analysts (quarterly, four times a year)
- Responding to various interviews and one-on-one meetings (including company visits, teleconferences, and web conferences)
- Participating in various conferences including those held in overseas locations (not on a regular basis)
- Delivery of information (timely disclosure, voluntary disclosure, issuing news releases, etc.)
- Creation and update of the IR site
- Responding to inquiries from shareholders
- Press conferences on financial results (quarterly, fourtimes a year)
- Responding to media such as newspapers and magazines
- Conducting marketing activities in coordination with relevant departments and CRESCO Group companies
- Preparing IR materials that are easy to read and understand as well as are shareholder- and investororiented
- Preparation of an English version of IR materials
In order to provide all shareholders and investors with fair and accurate information, the Company discloses information and other important information in a timely manner in accordance with the timely disclosure rules set forth by Tokyo Stock Exchange, Inc. (hereinafter “Timely Disclosure Rules”). In addition, the Company actively discloses information on the CRESCO Group when judging that such disclosure is meaningful.
The Company holds a briefing session by the President and Executive Officer four (4) times (quarterly) a year as a general rule. Presentation materials, minutes, and videos of these briefings are posted on the Company’s website.
The Company works to provide overseas investors with fair disclosure and responses comparable to those for domestic investors through holding dialogue on an individual basis.
Up to February 2020, before the COVID-19 pandemic, the Company held briefings by the responsible staff in charge of IR (sometimes attended by the President and Executive Officer) four (4) to six (6) times a year. In future, the Company plans to participate in joint briefings (including online) held by securities companies, taking into account the trends and circumstances. Supporting materials, etc., distributed at past sessions are also made available on the Company’s website.
The Company works to provide timely information disclosure based on its IR policy. Disclosed information includes news releases, summaries of financial results, reference materials for financial results meetings, (quarterly) securities reports, medium-term management plans, and the Company’s initiatives relating to the Corporate Governance Code. They are available also in English with some exceptions.
In order to ensure that shareholders have sufficient time to consider the agenda of a general meeting, the Company generally sends out the convocation notice of said meeting 18 days prior to the meeting date, and makes electronic announcement 10 days prior to the date these notices are sent out (28 days prior to the meeting date), in an effort to deliver the notice early and announce it prior to delivery. Electronic announcements are made on the Company’s website and on the Tokyo Stock Exchange’s Listed Company Search service. In order to ensure the accuracy of the information to be included in the convocation notice, consideration is given to securing appropriate auditing time by external accounting auditors.
The Company sets the dates related to the general meeting of shareholders, considering the perspectives of enhancing constructive dialogue with shareholders and providing accurate information. The date of the general meeting of shareholders is set in mid-June, avoiding any peak day so that more shareholders can attend the meeting, and we make every effort to ensure that the convocation notice reaches the shareholders as early as possible.
The Company provides a method for exercising voting rights by accessing the voting website designated by the Company via the Internet from a personal computer or smartphone.
The Company participates in Electronic Voting Platform for Institutional Investors operated by ICJ, Inc.
The Company provides English translations of the convocation notice in summary form, not in full text, and works to post them on the Company’s website and on the Tokyo Stock Exchange’s Listed Company Search service around five days prior to the date that convocation notices are sent out (23 days prior to the date of the general meeting of shareholders).
- In order to promote understanding of the proposals and objectives of the general meeting of shareholders, the Company keeps in mind to provide easy-to-understand explanations on the convocation notice.
- The Company promptly provides information, such as news releases, summaries of financial results, reference materials for financial results meetings, (quarterly) securities reports, medium-term management plans, and the Company’s initiatives relating to the Corporate Governance Code, as necessary, including information that is considered to contribute to shareholders making appropriate decisions at the general meeting of shareholders, via the Timely Disclosure network “TDnet” provided by the Tokyo Stock Exchange and the Company’s website.
- Information in English, with some exceptions, is provided on our English website.
- Information on the most recent general meeting of shareholders (notice of resolutions, notice of results of exercise of voting rights, videos of the general meeting, projected presentation materials) is available on the Company’s website, with some information only available on our Japanese website.
