[As of December 26, 2023]
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
The Company has a system in place where the department in charge of public relations 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 public relations & IR
- Officer in charge: Director and Senior Managing Executive Officer in charge of the Corporate Supervisory Unit
- Persons in charge of dialogue (face-to-face interviews): President and Executive Officer, Director and Senior Managing Executive Officer in charge of the Corporate Supervisory Unit, and Manager in charge of public relations
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 in charge of the Corporate Supervisory Unit, Senior Managing Executive Officer and managers in charge at the department in charge of public relations.
Recently, the Company held dialogue (online interviews) including the Chairman & CEO in the above system with one overseas institutional investor in May 2023, and one Japanese institutional investor in June 2023. 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 for dialogue (face-to-face interviews) 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, four times a year)
- Participating in briefings for individual investors
- 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 investor-oriented
- 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 the Public Relations (sometimes attended by the President and Executive Officer) four (4) to six (6) times a year. Supporting materials, etc., distributed at the session are also made available on the Company’s website.
In future, the Company plans to participate in joint briefings (including online) held by securities companies.
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.
The Company works to deliver notice of the general meeting of shareholders early and to announce it prior to delivery, while giving consideration to offering appropriate auditing time by external accounting auditors and to other factors so that shareholders have adequate time to review the proposals. The Company also announces it on the delivery date through the Company's website and the Timely Disclosure network “TDnet” provided by the Tokyo Stock Exchange.
The Company recognizes that a general meeting of shareholders offers the opportunity to pursue constructive dialogue with shareholders. Realizing the need to consider having as many shareholders as possible attend the meeting, the Company sets its annual general meeting of shareholders to avoid the peak day.
Exercising of voting rights via the Internet is available.
The Company participates in Electronic Voting Platform for Institutional Investors operated by ICJ, Inc.
A summary of the convocation notice is prepared in English and disclosed through the Company's website and the Timely Disclosure network “TDnet” provided by the Tokyo Stock Exchange.
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 also works to accurately provide information that may contribute to having shareholders make appropriate judgement through its website.
- Publication of convocation notice and Internet disclosure on the Company’s website before they are sent in a paper-based format
- Live broadcasting of the general meeting of shareholders
- Publication of notice of resolution, results of voting rights exercise, presentation materials projected at the general meeting of shareholders, and video presentation of the proceedings of the general meeting of shareholders on the Company’s website
