Based on our "IR Manifesto," our company places importance on an open and proactive approach in dialogue with shareholders and investors, conducting IR activities accordingly.
We hold meetings with institutional investors on a quarterly basis and proactively engage in communication by responding additionally as needed. When conducting IR meetings, we also organize matters we want to confirm with institutional investors internally in advance and confirm them during the dialogue, aiming for efficient and fruitful discussions.
[Main Initiatives]
- We hold quarterly earnings briefings for institutional investors, explaining the progress of our mid-term business plan and the outline of our financial results.
- We engage in dialogue and disseminate information to individual shareholders and investors through participation in online seminars.
- We actively provide information through IR website, notices of shareholders' meetings, and other channels.
The relevant departments, primarily the Corporate Planning Department, collaborate to collect and analyze financial and business information, which is then provided appropriately and in a timely manner.
Furthermore, when meeting with institutional investors, the President or the Executive Officer in charge of the Corporate Planning and Accounting & Actuarial Department actively engages in discussions, with IR personnel also in attendance.
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Content |
Number of Times/year |
Speakers |
||
|
Earnings briefing for institutional investors and sell-side analysts |
4 |
President and Representative Director, Senior Executive Officer in charge of Corporate Planning and Accounting & Actuarial Department, and Head of Accounting & Actuarial Department |
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|
Small meetings hosted by sell-side analysts |
4 |
President and Representative Director, Senior Executive Officer in charge of Corporate Planning and Accounting & Actuarial Department, and Head of Accounting & Actuarial Department |
||
|
Individual meetings with institutional investor proxy voting representatives |
7 |
Senior Executive Officer in charge of Corporate Planning and Accounting & Actuarial Department |
||
|
Individual dialogue with institutional investors |
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|
Domestic Institutional Investors |
60 |
President and Representative Director, Senior Executive Officer in charge of Corporate Planning and Accounting & Actuarial Department, Head of Corporate Planning Department and IR representative |
||
|
Overseas Institutional Investors |
98 |
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|
Sell-side analyst |
20 |
|||
|
Online seminar for individual investors |
1 |
Senior Executive Officer in charge of Corporate Planning and Accounting & Actuarial Department |
||
The status of IR activities and the main opinions received from shareholders and investors are shared with management team through meeting minutes as needed. Additionally, reports are made to the Executive Officers and the Board of Directors four times a year.
|
Content |
Number of Times |
Recipient |
|
IR Activity Report |
Quarterly, 4 times total |
Board of Directors |
|
Earnings Briefing |
Quarterly, 4 times total |
Executive Officers |
|
Comments from Investors/Analysts |
As needed |
Executive Officers and Outside Directors |
|
Main Opinions |
Responses |
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To further align the interests of shareholders and management, should the proportion of stock compensation for directors be increased, and should stock compensation also be introduced for employees? |
With the aim of enhancing employees' awareness of mid- to long-term shareholder value and investing in human capital, we introduced a stock compensation plan targeting all employees in November 2024. Notice Regarding Introduction of Stock Compensation Plan for Employees |
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Regarding valuation, what indicators are investors using to evaluate Lifenet? What indicators would Lifenet like to be evaluated on? |
In response to the adoption of International Financial Reporting Standards (IFRS) from fiscal year 2023, we have changed the most important management indicator representing corporate value from the traditional "European Embedded Value (EEV)" to "Comprehensive Equity." As a management target, we aim to achieve "Comprehensive Equity" of ¥200 billion to ¥240 billion in fiscal year 2028, the final year of the mid-term business plan.
By changing from "EEV," an indicator unique to life insurance companies, to "Comprehensive Equity," an indicator that aligns with IFRS financial statements, we believe we can further enhance the reliability of our corporate value indicators for our shareholders and investors. |
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How do you plan to improve valuation in the future? |
In the "Presentation Material for Investors Fiscal 2023" disclosed in May 2024, we explained our understanding of the current market valuation and the main initiatives aimed at improving market valuation. We will continue to provide updates on these initiatives in subsequent earnings announcements. To achieve our management targets for FY2028, we believe it is essential to work on both improving corporate value through our medium-term plan and enhancing valuation from the capital markets. |
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To make the Board of Directors' monitoring function more effective, isn't it necessary for a majority of the Board to be independent outside directors who supervise management from an independent standpoint? |
With the aim of strengthening the supervisory function of the Board of Directors and further enhancing the separation of supervision and execution, we transitioned to a structure where a majority of directors are independent outside directors in June 2024. We will continue to strive for further strengthening and enhancement of corporate governance by improving the effectiveness of the Board of Directors from various perspectives.
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