Accountability to Stakeholders

ITOCHU emphasizes dialogue with its shareholders, investors, and other stakeholders from the perspective of achieving sustainable growth and enhancing corporate value over the medium to long term. We now strive to reflect input obtained in investor meetings, general meetings of shareholders, and one-on-one meetings into our management strategies and financial and capital policies. Through commitment-based management, we are striving to expand corporate value and sustain a positive cycle through effective engagement. Investor relations activities in FYE2020 include the followings.

                    
Activity Times Content

Investor briefings on financial results for analysts and institutional investors

4

Held presentations for analysts and institutional investors every quarter, through web conferences.

Investor briefings on operating segments / projects for analysts and institutional investors

1

We hold meetings for analysts and institutional investors to explain specific themes, such as strategies of individual operating segments. (Topic of FYE2021 : Power & Environmental Solution Division)

Overseas IR roadshow

0*

Visited Europe, North America, Hong Kong, and Singapore to have individual meetings with overseas institutional investors.

Conferences sponsored by securities companies

4

Attended conferences sponsored by securities companies and held individual meetings mainly with overseas institutional investors.

Presentations for individual investors

2

Held meetings for individual investors through web conference.

Disclosure of IR-related materials on website

Disclose Investor Relations-related materials on our website. Following materials are available: financial statements, presentation materials for investors’ meetings (including Q&As), materials used in segment-specific briefings, TSE filings, annual securities reports (yuka shoken hokokusho), quarterly securities reports (shihanki hokokusho), and notice of general meeting of shareholders.

  • To prevent the spread of COVID-19, we held individual online meetings instead of overseas IR roadshow.

Examples of Measures Launched as a Result of Dialogue

Q1:The shareholder returns policy unveiled along with “Brand-new Deal 2023,” the medium-term management plan, was vague and less attractive than expected.

A1:We again studied market expectations gained through dialogues with investors and shareholders after announcing the medium-term management plan, and announced the New Dividend Policy with FYE 2022 Q2 financial results. Also, we announced repurchase of own shares* to increase the shareholder returns on January 2022.
*Total number of shares to be repurchased: 20,000,000 shares (maximum)
 Total amount: 60,000,000,000 yen (maximum)

Q2:ITOCHU’s policies for the coal-related business should be announced.

A2:We announced Coal-related business policy on February 2019. We also announced “Promoting decarbonization by fully divesting from thermal coal mining assets.” on January 2021. Only 3 months later, we sold Drummond thermal coal mine interest in Colombia, which was the largest thermal coal asset for ITOCHU. Further, the sale of Ravensworth North thermal coal mine interest is expected to be completed by the end of FYE 2022.

Q3:Please outline initiatives on climate change.

A3:After conducting a TCFD scenario analysis, we announced our endorsement of the TCFD. Further, we set and announced a roadmap for achieving the Japanese government’s goal of carbon neutrality by 2050 in “Brand-new Deal 2023,” the medium-term management plan. In addition to the steady implement of the policy for the coal-related business, we actively work on renewable energy businesses such as energy storage systems business to reduce GHG emissions. We respond to the needs of society and customers through our operation as a general trading company.

Q4:I would like to hear the Company’s thoughts on parent-subsidiary listings.

A4:We provided detailed explanations on the significance of owning listed Group companies and benefits for subsidiaries in our Corporate Governance Report and Annual Report. The detailed explanations are updated as needed.

Q5:Please present the concrete outcomes of collaboration with CITIC and CP Group, as well as the delisting of FamilyMart.

A5:In the Annual Report, we presented “Advertising & Finance Businesses” and “Making the Supply Chain More Efficient” as concrete results of privatization of FamilyMart. We recognize the needs to address the progress of collaboration with CITIC and CP Group, which is slightly behind the schedule.

[写真]
[写真]
[写真]

Related Information