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Shareholder and Investor Relations

Basic Policy

As a "contributing member of society," ESPEC advocates, as its corporate philosophy, building a meaningful relationship with every stakeholder (improvement of value exchange) and fulfilling its social responsibilities.

Our "IR Policy" is explicitly stated based on such corporate philosophy applied to IR activities that are intended to improve communication with shareholders and investors, and aims at disseminating information regarding our code of activities.

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Communication with Shareholders and Investors

Information Disclosure Policy and System

We disclose information in accordance with corporate laws, the Financial Instruments and Exchange Act, other related laws and regulations, as well as with the Timely Disclosure Rules and other related rules prescribed by the stock exchange. We also disclose in a proactive and fair manner other useful information that does not fall under these rules in order to further the understanding our shareholders and investors.

We have established an information disclosure committee as an internal corporate structure tasked with deliberating over information disclosure issues. We are also striving to centralize the information by limiting the number of people who can disclose it, and disclose information in a fair and prompt manner through our website and other means.

Implementing a More Open General Meeting of Shareholders

We believe that the general meeting of shareholders is a valuable opportunity to directly interact with our shareholders. When holding our meetings, we deliberately avoid days on which many companies hold their meetings of shareholders in order to allow more shareholders to participate. On June 23, 2017, 118 shareholders attended our 64rd Ordinary General Meeting of Shareholders. We set up a place for shareholders and executives to interact freely.

Photo: Business performance briefingsBusiness performance briefings

Corporate Briefings for Institutional Investors and Security Analysts

We conduct business performance briefings for institutional investors and security analysts. The president and the directors attend the briefings and provide information about performance, strategies, etc.

We also conduct individual meetings mainly in Tokyo and Osaka as occasion calls. In FY2016, we conducted about 90 such meetings.

Photo: Corporate Briefings for individual investorsCorporate Briefings for individual investors

Exhibiting at the Tokyo Stock Exchange IR Festival

In February 2017, ESPEC exhibited at the Tokyo Stock Exchange IR Festival held at the Tokyo International Forum. This is the third time we have exhibited at this event from when we started in 2014. This year we outlined the factors driving ESPEC's growth including our businesses that are aligned with global trends, our competence as a company, and being highly engaged in social activities. In addition to the president briefly outlining who we are and what we do, staff at the ESPEC booth also did the same numerous times for the more than 1,400 people that attended this event over two days. We will continue to actively create opportunities to exchange information and interact with individual investors.

Appearance on Radio Nikkei's "Asazai"

In February 2017, the company was featured in Radio Nikkei's "Asazai," a radio program that targets individual investors. The president provided details about the company's business activities as well as growth strategies.

Enhancement of IR Tools

Photo: 64th Half Shareholders’ Communications64th Half Shareholders’ Communications

● Shareholders' Communications

We update shareholders and investors on our CSR activities and various other initiatives in the biannual ESPEC Investors' Note. In fiscal 2016, we included special feature articles on overseas group companies and examples of how we supply products in order to deepen the readers' understanding of our businesses.

Photo: English IR websiteEnglish IR website

● Website (IR site)

We renewed our English website in April 2016. We have enhanced the content of our IR site by adding dedicated content tailored to individual investors.

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External Recognition of Our IR Site

Our IR site is highly regarded outside of the company and was, among other things, designated GRADE AA Corporate Websites (comprehensive ranking) in the "2017 Listed Company Website Quality Ranking Survey" organized by Nikko Investor Relations Co., Ltd.

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Feedback to Management

Shareholder and Investor Surveys

In addition to receiving opinions from investors at corporate briefings and other such occasions, we conduct surveys targeted at shareholders when forwarding shareholders' communications. We report opinions and other ideas received from our shareholders in the interim shareholders' communication. In FY2016, 1,990 shareholders responded to our surveys.

Market Assessment Feedback

Analysis results of surveys conducted at corporate briefings and through shareholders' communications, as well of opinions and other ideas received at individual meetings are compiled into reports and reported, as occasion calls, at the Board of Directors.By bringing back this assessment of the market to our company, we can more easily identify issues. This then leads to an improvement of future IR activities and quality of management.

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Returning Profits to Shareholders

Returning Profits to Shareholders

Recognizing that passing on profits to our shareholders is a key priority and that raising corporate value on a lasting basis is fundamental to raising shareholder value, dividends are decided taking into account sustainability and the dividend payout ratio.The annual dividend for FY2016 was 36 yen per share.

■ Dividend per share

  2013/3 2014/3 2015/3 2016/3 2017/3
Total (Yen) 15 20 26 32 36
End of 2nd quarter (Yen) 7 7 7 9 12
Term-end (Yen) 8 13 19 23 24