We engage in dialogue with shareholders within reasonable limits with the aim of achieving sustainable growth and a medium- to long-term increase in corporate value. We employ the measures below in order to hold appropriate and constructive dialogues with our shareholders.
(i) The Presdent's Office is in change of investor relations (IR) under the leadership of the General Manager of the Presdent's Office.
(ii) Departments such as the Presdent's Office, the Corporate Planning Group, Finance Department and Internal Audit Department cooperate with each other through means such as holding regular liaison meetings to exchange information.
(iii) As a method of dialogue other than separate meetings with various investors, we hold briefings on financial statements for institutional investors twice a year, and the explanatory materials for these are posted on the Company’s website.
(iv) The opinions from shareholders and investors that are shared during the separate meetings in every accounting period are reported to the director in change, and major issues are reported to the Board of Directors.
(v) We have established regulations to prevent insider trading, and we manage insider information based on those regulations. We also take measures based on the regulations when engaging in dialogue with investors, such as by establishing a quiet period.

FY2025

Main responders

General meeting of shareholders	All directors and auditors
Financial results briefing	All Directors excluding Outside Directors
Individual Meeting	Persons in charge of Investor relations

Number of interviews

69 meetings with analysts and domestic and international institutional investors.

Main topics of the dialogue and shareholder interests

*Business environment, cumulative performance, and outlook for each segment
*Background, expected synergies, and financial impact of the acquisition of Kyocera Corporation's power device business
*Progress of the Medium-Term Management Plan and profitability improvement
*The Shindengen Group's competitive advantages and positioning amid the restructuring of the power semiconductor industry
*Progress of two-wheel EV adoption in India and the impact of demand driven by AI and data centers
*Response measures regarding the TOPIX revision and a PBR (Price-to-Book Ratio) below 1x
*Management focused on cost of capital and shareholder returns
*Sustainability initiatives

Feedback to the Board of Directors

In addition to the main topics of dialogue during IR meetings, the IR department reports quarterly to the Board of Directors on the concerns, expectations, and other feedback raised by institutional investors and analysts regarding the Shindengen Group.

Key Actions Taken based on the dialogue

As part of the feedback on our IR activities, investors requested the disclosure of more detailed data required to deepen their understanding of our business and analyze our financial performance. In response to this request, we have enhanced our financial results supplementary materials by adding data such as the sales composition by application for all products and semiconductors, as well as net sales trends of the Shindengen Group companies in the motorcycle market (on a local currency basis) in areas like India and the ASEAN region. Through these updates, we have endeavored to enrich our disclosure to provide information that is easier for investors to analyze.