Dialog with Stakeholders

We believe that information disclosure and dialog with shareholders, institutional investors, and financial analysts is important to achieve sustained growth and increase corporate value of our group.

Enhance constructive dialogue with shareholders, investors, and other stakeholders

1.Policy and Structure of Initiatives

The president, executive officer in charge of IR, and other managements attend financial results briefings and IR meetings to promote constructive dialogue with shareholders and other stakeholders. In other efforts organized by the Company, executive officer in charge of IR and other managements are present to the extent as possible.

The Board of Directors is informed of the opinions of shareholders and investors obtained through IR activities as appropriate. And they instruct relevant internal departments to implement measures necessary for sustainable growth and mid- to long-term improvement of corporate value.

Also, we conduct company facility tours, construction site tours, and various business presentations for shareholders and financial analysts to ensure that they have a clear understanding of our business strategy and management environment.


2. Dialogue and other activities

Activities in FY2022

Activities Counts
Financial results briefings for financial analysts 4
Business briefing for financial analysts (facility tours, etc.) 2
SDGs・ESG briefing for ESG analysts 1
Shareholder and investor events (Only in Japanese) 2
IR meeting (institutional investors in Japan and Overseas) 23
Individual meetings with financial analysts 117
Small meeting with financial analysts 1
ESG engagement 5
Meeting with "Institutional Investors Collective Engagement Forum" 1
SR meeting (institutional investors and voting rights exercisers) 11

Summary of Individual Meetings for FY2022

Our members

President, Senior managing officer in charge of Administrative Functions, Executive officer in charge of IR, Executive officer in charge of ESG, General manager in charge of accounting, Corporate communications division, etc.

Meeting parties

Institutional investors in Japan and overseas focusing on active management, ESG institutional investors, financial analysts, ESG analysts, etc.

Main Q&A, requests, and dialogue topics

1)Construction business environment
  • Trends in the construction market, competitive environment and order profitability
  • Strategies for receiving orders for large-scale construction projects
  • Causes of the decline in profit margins and future outlook
  • Impact of and response to rising material prices
  • Shortage of skilled workers and response to overtime work limits
  • Status of overseas construction business
2)Non-construction business
  • Status of real estate development business and its return level
  • Private REIT
  • Status of offshore wind power generation business, operation of SEP vessels
3)Digital related technologies
  • DX Initiatives and our strengths
4)Shareholder Return Policy
  • Disclose plans and targets for reduction of securities holdings
  • Use of cash brought by the sale of securities holdings
  • Future plans for share buybacks
5)Related to Affiliated Companies
  • Synergy effects with THE NIPPON ROAD Co. Ltd. and future collaboration policy
  • Progress of "Ecology Mission 2030-2050," a mid- to long-term goal for reducing CO2 emissions
  • Survey method, survey items, and numerical calculation method for the "Job Satisfaction Index"
  • Establishment of human rights-related KPIs and disclosure of the status of initiatives
  • Percentage of female directors and managers
  • Reasons for the current structure of the Nomination and Compensation Committee and its activities
  • Succession planning
  • Reasons for selection of skills in the skills matrix
  • Linkage between long-term vision, mid-term plan, and achievement of non-financial KPIs and executive compensation

Policy on Information Disclosure

The Company discloses information based on the principles of transparency, timeliness and fairness, in accordance with the Financial Instruments and Exchange Act, related laws and regulations, and the rules on timely disclosure set forth by Tokyo Stock Exchange Inc. We also strive to actively and fairly disclose information that is not subject to the various laws, regulations, and rules on timely disclosure, but which we consider useful to shareholders and investors, to the extent possible.

Method of Information Disclosure

The Company discloses information subject to the rules on timely disclosure by registering it on TDnet (Timely Disclosure Network), which is operated by Tokyo Stock Exchange Inc. We also post the same information on our corporate website after registering it on TDnet, in principle. In addition to this, we strive to actively and fairly disclose information that is not subject to rules on timely disclosure and other regulations, but which we consider useful to shareholders and investors, to the extent possible.

Earnings Forecasts and Other Projections

The Company sometimes discloses information concerning earnings forecasts and other forecasts and projections on the corporate website. Statements based on assumptions other than past facts are projections the Company has deemed reasonable based on information obtainable at the time of disclosure. As such, they are subject to unforeseen risks and uncertainties and actual results may differ substantially from future projections provided by the Company.