Alongside our shareholders and investors
Based on the Mitsubishi Steel Group Code of Conduct and the Basic Policy for Corporate Governance, we engage actively in fair, accurate, and timely disclosure with shareholders and investors. We also engage in constructive dialogue with shareholders and investors to contribute to sustainable growth and increasing corporate value over the medium to long term.
Policy for Dialogue with Shareholders and Investors
We have formulated a Basic Policy on Communication with Shareholders and Investors, which is available on our website.
We meet regularly with institutional investors and shareholders and maintain a structure for promptly relaying comments from them to our top management and other members of the management team as feedback for corporate management.
We held meetings for certain specific institutional investors attended by the directors responsible for general affairs and investor relations, in which Outside Directors also participated. These meetings include briefings by the Company and discussions on matters such as our medium- to long-term vision, management based on cost of capital, and efforts to address various ESG topics. Opinions and other comments from these meetings are reported to the Board of Directors as feedback for management, to promote further initiatives.
Please refer to “Measures to realize management with awareness of cost of capital and stock price“ for details on the Company's measures to realize management based on the cost of capital.
We will continue to enhance efforts to ensure constructive communication with shareholders and investors.
System and Implementation Status of Dialogue with Shareholders and Investors
Dialogue structure and results
FY2024 results
| Details | Our personnel responsible | Times (cumulative total) |
| ❶ SR meetings (meetings with institutional investors) | Keisuke Aoike, Representative Director/Managing Executive Officer Minako Takeuchi, Outside Director Executive Officer/Head of Public & Investor Relations Department, ExecutiveOfficer/Head of General Affairs Department | 9 |
| ❷ IR meetings | Executive Officer/Head of Public & Investor Relations Department, Senior Executive Officer/Head of Accounting Department | 23 |
| ❸ Responding to inquiries | Public & Investor Relations Department | As needed |
| ❹ Briefings on financial results | Jun Yamaguchi, Representative Director, President & CEO Keisuke Aoike, Representative Director/Managing Executive Officer, and others | 2 |
| ❺ ESG briefings | Keisuke Aoike, Representative Director/Managing Executive Officer, and others | 1 |
| ❻ General meetings of shareholders | Jun Yamaguchi, Representative Director, President & CEO, and others | 1 |
Twice a year, our management team explains our financial results, the progress of our mid-term business plan, and future business development.
A video of the meeting and a summary of the Q&A session are also available on our website.
In order to provide a better understanding of our current situation and future initiatives, we will explain not only the results of the current fiscal year, but also the outlook for the next fiscal year and the progress of our medium-term business plan. The materials projected and distributed at the meeting are also available on our website. For shareholders who were unable to attend the meeting, a video of the meeting was posted on our website for three months.
Implementation Status of Feedback
Details of feedback
| Details | Subjects | Frequency | |
| ❶ Shareholder/investor meeting reports | Opinions collected in dialogue with shareholders and investors, response policies, etc. | Members of the Board of Directors Members of management meetings | IR meeting report: once/quarter SR meeting report: once/year Annual report: once/year |
| ❷ Financial results briefing reports | Summaries of questions asked in financial results briefings, etc. | Members of the Board of Directors Members of management meetings | Twice/year (end of first half, end of year) |
| ❸ Other than regular reports | Issuing PR and IR reports (details of IR meetings and shareholder inquiries) | Members of management meetings | Monthly |
❹ Explanations and feedback to employees | Deployed through internal bulletins and other means ● Explanation of financial results and progress reports on the Mid-term Business Plan ● Introductions to ESG initiatives ● Summaries of IR meetings and shareholder inquiries | Company employees | Monthly |
Main themes of dialogue
| Themes | ||
| Business strategies,etc. | ● Management reflecting a keen understanding of capital costs and share price ● Use of ROIC and business portfolio optimization | ● Progress and details of strategic businesses ● Efforts to improve PBR |
| Environment (E) | ● Promoting emissions reduction plans for carbon neutrality ● Status of studies of biodiversity disclosures | ● Opportunities related to climate change (environmental products, etc.) |
| Society (S)（社会） | ● Engagement survey results and measures to improve survey results ● Human resource strategy to realize the Company’s ideal | ● Status of implementing human rights due diligence ● Diversity (percentages of women officers, managers, and employees) |
Governance (G) | ● Status of Nomination and Compensation Committee activities and the nature of Committee discussions ● Composition of Board of Directors membership (including skills matrix) | ● Efforts to improve Board of Directors efficacy ● Executive compensation incentive enhancements |
Examples of initiatives based on dialogue
| Main items implemented | Key items partially addressed or under consideration | |
| Business strategies, etc. | ● Establishing clear policies on adopting ROIC management and business portfolio optimization ● Revising understanding of equity capital costs ● More advanced disclosure, including disclosure encompassing the Integrated Report | ● Verbalization of our Purpose ● Expanding KPIs on nonfinancial targets ● Regular progress reports on ROIC management and improving its efficacy |
| Environment (E) | ● Revising reduction targets to achieve carbon neutrality ● Disclosing progress on carbon neutrality plans ● Expanding the range of Scope 3 emissions disclosure | ● TNFD-based biodiversity disclosure |
| Society (S) | ● Conducting engagement surveys and disclosing survey results ● Implementing human rights due diligence and disclosing theresults | ● Disclosing and promoting human resource strategies, including HR portfolio optimization ● Improving diversity (percentages of women managers and employees) |
| Governance (G) | ● Enhancing disclosure of the skills matrix ● Incorporating nonfinancial indicators into executive compensation ● Increasing the weight of role-based performance-linked compensation in executive compensation ● Discontinuation of the special advisor system ● Preparing and disclosing succession plans | ● Further stimulating discussions within the Board of Directors (focusing on strategic topics) ● Consideration of the ideal Company organizational design |