Policy for Constructive Dialogue with Shareholders and Investors

1. IR Basic Principles
2. Structure for dialogue
3. IR Activities
4. Dialogue results
5. Dialogue themes and feedback within the company

1. IR Basic Principles

Our basic policies for investor relations activities are threefold: "Timely, appropriate and fair disclosure of information," "Building long-term relationships of trust through constructive dialogue with shareholders and investors," and "Working together with shareholders and investors to increase corporate value."
We view IR activities as an essential approach to increasing corporate value. By disclosing information, we promote dialogue with shareholders and investors. Through such dialogue we bring to light the issues facing our company, which we then reflect in management and strive to maximize our corporate value by engaging in a cycle of disclosure.

2. Structure for dialogue

We have established a section responsible for IR in the strategic finance department. IR activities are overseen by the member of the Board of Directors and the Executive Deputy President, who is also the director of the corporate unit. Dialogue with shareholders and investors is facilitated by the President, Members of the Board of Directors, Executive Officer, or the IR section, according to the purpose of the dialogue.
In order to promote constructive dialogue, the IR section coordinates with the management strategy division and each business division, as well as the division responsible for public relations, the sustainability promotion division, the general administration division, etc. to collect and disseminate necessary information.

3. IR Activities

Activity	FY2024 results	Details
Financial Results	4 times	Held quarterly for analysts and institutional investors, with the participation of the President and the Officer in charge of IR to explain the financial results.
Earnings Release Conferences	1 time	An event for analysts and institutional investors at which the President directly explains medium- to long-term business opportunities, our management strategy, and other information. The President, and the Chief Financial Officer (concurrently the Officer in charge of IR) and business managers, also participate as speakers.In addition, at the company information sessions held in fiscal 2024, we disclosed the economic and social value targets of our Medium-Term Direction 2027 and presented our strategies to achieve them.
ESG Meeting	-	An event for analysts and institutional investors to present our sustainability initiatives. In fiscal 2024, the company information session also included an explanation of the social value targets of our Medium-Term Direction, along with the related strategies and initiatives.
Individual meetings with analysts and institutional investors	555 times	Online and other forms of meetings available as needed.
Individual dialogue with persons exercising voting rights of institutional investors, and others	12 times	Regularly held as part of our shareholder relations program.
Seminar for Individual Investors	1 times	Seminars for individual investors, including in online format.
Shareholders’ Meetings	1 time	Held to report important matters on the company to the shareholders for their resolution. We hold an Ordinary General Meeting of Shareholders in late June of each year.
Report for Shareholders	2 times	Issued twice a year to provide shareholders with information on our business performance and management policies.
Information dissemination on our website	-	Our website provides useful information for shareholders and investors, including IR materials, integrated reports, and videos of financial results briefings. Financial statements and related materials are disclosed in both Japanese and English simultaneously based on the fair disclosure rules.

4. Dialogue results

Graph of Dialogue results (no. of events)

Figures are for the period from April 1 to March 31 of each year.
"Sessions by management" refer to sessions attended by Vice President or above, including the President.

(Number of events)

	FY2022	FY2023	FY2024
President	13	18	29
Officer in charge of IR	23	26	26
Other officers	7	14	3

If more than one officer attended a meeting, the number of times is counted for each officer.

Graph of Dialogue results (total of companies)

Figures are for the period from April 1 to March 31 of each year.
"Sessions by management" refer to sessions attended by Vice President or above, including the President.

(Number of companies)

	FY2022	FY2023	FY2024
President	65	45	156
Officer in charge of IR	69	113	64
Other officers	16	29	17

If more than one officer attended a meeting, the number of companies is counted for each officer.

5. Dialogue themes and feedback within the company

Main dialogue themes

Business performance	Demand forecast by end-market Product price trends Enhancing corporate value through the introduction of employee RS Assumptions and perspectives for earnings forecasts
Management strategy	Worldview and technology trends in 2030 Growth strategy toward 2030 Assumptions and strategies in the Medium-Term Direction 2027 Progress of mid-term direction Portfolio management M&A approach
Business strategy	Competitive environment and growth strategy for components (layer-1) Growth strategy for devices and modules (layer-2) Restructuring of low-profit businesses Progress toward profitability in the battery business Future prospects for technologies acquired through M&A New business (layer-3)
ESG/Sustainability	Advancing the timeline for achieving RE100 Initiatives for Climate Change Measures (Advancing Scope Targets) Environmental contribution through products Women's empowerment initiatives Approach to human rights (Labor rights, human rights in the supply chain) The Appointment of Our First Outside Director as Chairman of the Board of Directors Corporate governance
Financial strategy	Capital allocation policy (Progress on Strategic Investment) Secondary Offering of Shares in Overseas Markets Shareholder return policy (including the concept of share buyback)

Feedback within the company

Opinions and questions that we receive from shareholders and investors are reported at Board of Directors meetings and management meetings, and are also widely shared with relevant departments within the company to help improve our management and IR activities.

Activity	Frequency	Target
Reporting at Board of Directors meetings	Once a year	Board members
Reporting at management meetings	Four times a year After financial closing	Vice Presidents including the President Attendees at management meetings
Release of IR reports - reports on stock price trends, investor interests and concerns, frequently asked questions, and other information. Activity reports are also released once a year.	Five times a year	Board Members (including outside directors) and Vice Presidents General managers of business divisions Presidents of affiliated companies･Finance department of affiliated companies Relevant departments
Release of minutes of financial results briefings	Four times a year	Board members and officers All employees
Information sharing meetings with relevant departments Enhancement of cooperation with the management strategy division	Quarterly	Business divisions and sales departments
Internal IR briefings	Iregular basis	(Result for FY2024) Finance department of Domestic and Overseas Affiliates Responsible Functional Department Domestic Factories
Others (IR-related)	Whenever necessary	Timely reports on shareholder composition, trends in shareholdings by institutional investors or others, rating changes, and other information as needed

Matters incorporated into corporate activities based on dialogue

Enhancement of IR briefings	In response to requests from investors, the following events were held.。 In order to deepen understanding of our technologies and new business initiatives, held a facility tour and technical briefing at the Minato Mirai Innovation Center.
Disclosure of Capital allocation policy	Briefing on the shareholder return and investment policies during the Mid-term Direction 2027, and engagement in dialogue in accordance with changes to the shareholder return policy.
Dialogue with capital markets	Expansion of management engagements (approximately twice compared to the previous fiscal year) Communication of the mid-term direction aimed at internal and external alignment, and presentation of the after-tax ROIC target.
Increase in the Number of Small Meetings between the President and Foreign institutional investors	After financial announcements and Information meetings,held Conducted multiple small meetings where the President directly explains financial results to sell-side analysts.
Enhancement of IR for individual investors	Seminars for individual investors to be held
Disclosure on corporate governance	Disclosure of major discussions at Board of Directors meetings and Nomination and Remuneration Advisory Committee meetings Disclosure of reasons for selection of skills in the Board members' skill matrix Disclosure of shareholding guidelines
Others (IR-related)	Published the HTML version of the integrated report to improve readability Disclosed the breakdown of one-time expenses in the earning release conference presentation Further identification and clarification of materialities in the mid-term direction (Consolidated from a perspective of enhancing corporate social value rather than comprehensive materialities)