Initiatives to promote understanding and build trust on the part of shareholders and investors
Information disclosure policy
Hioki has adopted the following basic policy on disclosing information to shareholders and investors: “Hioki is committed to disclosing information in a timely, fair, and appropriate manner to facilitate understanding, trust, and the ability to fairly evaluate the company’s operations on the part of all stakeholders, including shareholders and investors.”
We comply with the Timely Disclosure Rules put in place by the Tokyo Stock Exchange. We also work to disclose information that does not technically fall under those rules when we believe it could be of use to stakeholders or the general public, and we do so quickly and accurately based on considerations of fairness and timeliness.
Historically, we've strived to deliver a greater return on shareholders’ investments by improving our performance and by adopting a stable annual dividend base of 20 yen and a target consolidated dividend payout ratio of 30%.
In 2017, we eliminated our shareholder benefit program and increased the consolidated dividend payout ratio to 40% as part of a renewed commitment to ensuring an even greater return on shareholders’ investments by improving our performance.
Our basic policy is to pay interim and year-end dividends.
Financial results briefings
We hold two financial results briefings in Japan each year (after the second quarter and at the end of the year) for institutional investors and securities analysts to help them understand Hioki’s performance and future corporate strategies. The briefing for the second quarter of 2020 was held online for the first time. We also work to deepen investors’ understanding of our operations and of the electrical measuring instrument industry in general by accommodating inquiries from investors and journalists. We strive to ensure that both of these vehicles provide an opportunity to communicate by listening to stakeholders’ questions and desires directly.
General meeting of shareholders
We host a general meeting of shareholders at the end of February each year in Hioki Hall at our Headquarters. The event includes reports on recent operations, including topics of note from the last year, future business strategies, and policies being pursued to implement our plans, as well as a party with a buffet dinner. In this way, we strive to communicate actively with shareholders.
Management Advisory Committee
We created the Management Advisory Committee on April 1, 2016, to advise the Board of Directors. The Committee, whose members currently include two outside directors, offers advice on important management issues in order to increase the transparency and soundness of our management. We strive to enhance our corporate governance structures and increase our corporate value by making use of advice and suggestions from committee members, who bring deep knowledge of corporate management and extensive experience to their task.