Through constructive dialogue with shareholders and investors, the Company aims for sustained corporate growth and increases in corporate value over the medium to long term. Our policy on system development and initiatives to promote constructive dialogue with shareholders and investors is described below.
Policy on Constructive Dialogue with Shareholders and Investors
The Company aims to grow continuously and improve corporate value over the medium- to long-term by through holding a constructive dialogue with shareholders and investors. Policies on the development of the systems and initiatives that facilitate such dialogue are as follows:
- The Corporate Communications Department, which is under the direct control of the President is responsible for overall dialogue with shareholders and investors.
- Opinions collected through dialogue with shareholders and investors are appropriately conveyed to Members of the Board of Directors and Audit & Supervisory Board Members as well as relevant departments as necessary in order to share and utilize information.
- To appropriately hold dialogue with shareholders and investors, the Corporate Communications Department builds a framework of cooperation to share information with the Business Management, Human Resources, Corporate Governance, Sustainability and other departments.
- If shareholders and investors request a dialogue with the Company, we provide appropriate personnel for such a dialogue after confirming what the shareholder hopes and what the purpose of the dialogue is.
- Other than one-on-one meetings, the Company provides dialogue opportunities in the form of financial results meetings for analysts and investors after announcement of quarterly financial results, as well as R&D-related and sustainability-related briefings. In addition, the Company offers meetings for individual investors.
- The Company works to ensure stringent management of insider information in accordance with the policy for the Prevention of Insider Trading. When holding dialogue with shareholders and investors, we strive to disclose information in an easy-to-understand, fair and accurate manner, based on the policy on information disclosure. the Company set a quiet period of four weeks prior to the financial results announcement, during which dialogue with investors is restricted.
Status of dialogue with shareholders and investors
Communication with Shareholders and Investors (FY2024)
| Category | Activities |
|---|---|
| Participants from ONO | The Chairman of the Board and CEO; President and COO; Corporate Officers; Corporate Communication Dept. and other departments (Business Management, Corporate Governance, Sustainability etc.） |
| Overview of dialogue partners | Diverse shareholders and analysts as well as active and passive institutional investors, both in Japan and overseas. |
| Main topics and matters of interest | ・The status of integration with Deciphera, future growth strategies—including global expansion—and research and development policies. ・Status of main product 「OPDIVO」 and progress on development pipeline ・Future growth strategies, including overseas expansion, and R&D strategy ・Financial Strategy and Shareholder Return Policy ・Non-Financial Activities Including ESG, etc. |
| Status of feedback on the opinions or concerns of shareholders and investors to the management team and the Board of Directors | ・Reported 5 times a year at the Board of Directors meeting (4 IR activity reports and 1 SR activity report) ・Reported quarterly to the Corporate Officers (Executive Director) additionally as needed. |
| Key matters incorporated based on feedback | ・Following the completion of the M&A, disclosure of core financial indicators was initiated. ・The investment allocation for fiscal years 2025 and 2026 were updated and disclosed. ・Given that there were negative opinions regarding the inclusion of in-house directors to be deliberated in the members of the Executive Appointment Meeting and the Executive Compensation Meeting, the composition of the Executive Appointment Meeting was limited to outside directors only. On the other hand, since the corporate officer personnels are also subject to deliberation in the Executive Appointment Meeting, the Chairman of the Board and CEO was to remain as a member of the meeting. In addition, if the chairman (outside director) judged that a matter should be deliberated only by outside directors, the Chairman of the Board and CEO was not to participate in the discussion (the composition of both meetings were changed on April 1, 2024). ・From the perspective of diversity, we provided Director Okuno, a female outside director, with an opportunity to explain internal initiatives. ・Based on feedback that disclosing the reasons for selecting each skill item in the Board of Directors’ skill matrix would make it easier to understand the relationship among management issues, management strategies, and the composition of the board, we disclosed the reasons for selecting each skill item. ・In response to feedback that there were too many materiality items, and given the need to update materiality, we simultaneously reviewed and reorganized the materiality items and disclosed the results. |
Achievements in Dialogue Activities
| Activities | FY2022 | FY2023 | FY2024 |
|---|---|---|---|
| Individual Investor Meetings | 1 | 1 | 1 |
| Financial Results Meetings for institutional investors and analysts | 4 | 4 | 4 |
| Sustainability Meeting | 1 | 1 | 1 |
| R&D Meeting | 1 | 1 | 0 |
| 1-on-1 meetings with institutional investors and analysts ※1 | In Japan：271 people/61 companies Overseas：110 people/59 companies |
In Japan：184 people/114 companies Overseas：141 people/118 companies |
In Japan：221 people/154 companies Overseas：194 people/91 companies |
| Overseas roadshows | 1 | 2 | 3 |
| Conferences hosted by securities companies | 2 | 3 | 5 |
| Small meetings | 4 | 10 | 5 |
| 1-on-1 meetings with exercisers of voting rights（Shareholder Relations）※2 | In Japan：7 companies Overseas：7 companies |
In Japan：8 companies Overseas：4 companies |
In Japan：8 companies Overseas：3 companies |
※1 Total number of participants and companies
※2 Including those implemented in April 2024
- Please see the IR Calendar page below for our company's schedule of dialogue with shareholders and investors.
- IR Calender