Kurita Water Industries Ltd., maintains a dialogue with shareholders and investors in line with the management principle of "management that respects Shareholders." As for disclosure, "appropriate recording and disclosure of information" in the Kurita Group Code of Conduct stipulates that all accounting and financial information be properly recorded and saved in line with laws, ordinances, and in-house rules in order to ensure the appropriateness of financial reports and that reports be appropriately made in a timely manner in line with in-house rules and related in-house procedures.
System for Promoting Dialogue
The General Manager of the Corporate Planning Division has overall responsibilities for constructive dialogue with shareholders and investors. A specialized Investor Relations (IR) section has been established within the Corporate Planning Division, at which staff specialized in IR are assigned. The General Manager of the division is involved in dialogue with shareholders and investors. As well, he/she attempts to organize such dialogue between the president and other officers and shareholders and investors.
In regard to important information on matters within the Company, the General Manager of the division ascertains, collects, and controls it adequately, and discloses it in a timely and appropriate manner. He/She also provides feedback to the Board of Directors concerning the opinions and concerns of shareholders learned through such dialogue periodically and as necessary.
IR Activities for Institutional Investors
Commendation by The Securities Analysts
Association of Japan
In activities taken for institutional investors in fiscal 2017, Kurita held financial results briefings at the time of its second-quarter and full-year financial results, at which the president and the directors of the Accounting Division and the Corporate Planning Division explained the Company’s results and answered questions. Teleconferences were also held at the time of the Company’s first- and thirdquarter financial results, during which the General Manager overseeing the IR department explained the results and answered questions. The materials used at these briefings, as well as summaries of the questions and answers, have been posted on the Company’s IR website to ensure the timely and fair disclosure of information.
In addition, IR staff conduct individual meetings with securities analysts and institutional investors in Japan and overseas on a regular basis except during quiet periods. During fiscal 2017, over 200 meetings and telephone meetings were held.
For foreign shareholders and investors, the president and the General Manager of the Corporate Planning Division conduct roadshows in Europe, North America, and Asia. In addition, the General Manager of the Corporate Planning Division participates in domestic conferences organized by securities companies. In the fiscal 2017, we visited 54 shareholders and investors overseas and held 28 meetings in Japan.
In recognition of our efforts for these activities, Kurita was chosen by the "Awards for Excellence in Corporate Disclosure by Securities Analysts," conducted by The Securities Analysts Association of Japan, as a "Company with the Notable Level of Disclosure Improvement" and received a commendation from the association in October 2016.
IR Activities for Individual Investors
For individual investors, a shareholder briefing is held after the General Meeting of Shareholders, and a company briefing is conducted at the branches of securities companies in the metropolitan areas as well as at venues in rural cities. In fiscal 2017, we shared with over 800 people the outline of the Company and organized opportunities for the exchange of opinions. The materials used at these briefings are available on the Company’s IR website.
Communication with Shareholders
In Japan, our IR staff visit major domestic shareholders as well as the hubs of foreign shareholders in Japan in order to create opportunities to communicate with the persons in charge of exercising voting rights. We at Kurita explain the direction of management and report on the implementation and status of improvement of corporate governance, while shareholders express their opinions and requests regarding management and discuss policies on the exercise of voting rights. Feedback regarding the opinions and requests expressed is provided to the president and other directors, and those opinions and requests are reflected in various management policies.