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Dialogue with Shareholders and Investors

Basic Approach

As a responsible member of society, ESPEC advocates a corporate philosophy of building stronger relationships with all stakeholders and fulfilling its social responsibilities by enhancing mutual value exchange.
Through our IR activities, we aim to deepen understanding of ESPEC among all stakeholders, including shareholders and investors, and to build relationships of trust so that they appropriately evaluate the company. We also strive to enhance the quality of our management by incorporating market evaluations and opinions into ESPEC’s management activities.

IR Policy

IR Implementation Framework

ESPEC's IR activities are administered mainly by the Sustainability Management Department under the Sustainability Management Headquarters and supervised by the director in charge of investor relations and public relations. As a rule of thumb, the president, directors and chief officers in charge of each headquarters provide shareholders with explanations in the Company's IR activities. However, the department in charge of IR shall provide those explanations depending on the agenda, scale and other aspects of IR events. The Sustainability Management Department, as the department in charge of IR, responds to inquiries regarding ESPEC's IR activities from shareholders.This department in charge of IR plays a central role facilitating coordination with the relevant departments to help smooth the dialogue with shareholders.

Major IR Activities (FY2024 Results)

Please scroll horizontally to look at table below.

Activity FY2024 Results Description Main Participants
Financial Results Briefings 2 times (via video streaming) Explanations of financial results, future plans, and growth strategies provided semiannually President
Individual Meetings with Analysts and Institutional Investors 147 meetings (106 domestic, 41 overseas)
* Of these, 22 meetings were attended by the President		 Individual meetings held with analysts and institutional investors as needed President, Director in charge of IR
Briefing for Individual Investors 1 time
(135 participants)		 The President explained the company’s business overview, strengths, medium-term management plan, and shareholder returns, and responded to questions from shareholders President, Director in charge of IR
Shareholder Reports
Shareholder Survey		 2 times
1 time		 Issued to provide information on the company’s business performance and various initiatives
A survey was conducted in conjunction with the shareholder report to gather opinions and requests regarding IR tools and activities		 ー
IR Email Newsletters 115 times Distribution of the latest IR information and news to institutional and individual investors in Japan and overseas ー
Website Information Disclosure ー Providing useful information for shareholders and investors, including management policies, financial and performance data, and materials from IR events ー

Main Themes and Topics of Dialogue

Theme FY2024 Results
Financial Results Overview and Outlook
  • Background behind business growth and order continuity
  • Differences from earnings forecasts and progress toward projections
  • Demand trends and growth potential by market
Medium- to Long-Term Growth Strategy
  • Future growth drivers and views on the business environment
  • Progress of business strategies and direction of the next medium-term management plan
  • Details and progress of growth investments
Shareholder Returns and Capital Policy
  • Financial strategy and approach to shareholder returns (dividends and share buybacks)
  • Approach to strategic shareholdings
ESG and Sustainability
  • Initiatives related to strengthening human capital, diversity, and human rights
  • Climate change initiatives

Feedback to Management

Please scroll horizontally to look at table below.

Activity FY2024 Results Description
Reporting to the Board of Directors Quarterly and annual summary
Total of 5 times		 Reports were provided on major questions and opinions raised during individual meetings with analysts and institutional investors, as well as the results of briefings for individual investors and shareholder report surveys.
Meetings with Top Management Several times per month Opinions and questions from shareholders and investors are reported in a timely manner and issues are shared. These discussions are used to help improve management strategies and initiatives.
Meetings with Chief Officers Quarterly Progress of business performance and strategies is reviewed, while opinions and questions from shareholders and investors are reported and issues are shared. These discussions are used to help improve management strategies and initiatives.
Participants in financial results briefing pre‑meetings: President, Directors, and Chief Officers.
Financial Results Briefing Pre‑Meetings Second quarter and fourth quarter
Two meetings each (total of four)
Reporting to Chief Officers As needed Reports are provided to chief officers as necessary regarding Board of Directors report materials, analyst reports, and stock-related articles.

Key Outcomes of Dialogue

Activity Description
Formulated a Shareholder Return Policy A cash allocation policy for the Medium-Term Management Plan (FY2025–FY2027) was formulated, and the basic dividend policy was revised (the name was also changed to the Shareholder Return Policy). The policy was disclosed in May 2025.
Held Financial Results Briefings Online In response to strong requests from shareholders and investors, the company held its financial results briefing online for the first time in May 2025.
Enhanced Financial Results Presentation Materials The presentation materials for the Medium-Term Management Plan (FY2025–FY2027) were enhanced to include expanded information such as SWOT analysis and target markets.
Enhanced IR Activities Online meetings with overseas institutional investors were conducted, with the President and the Director in charge of IR participating.
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