Dialogue with Shareholders and Investors

Policy for Constructive Dialogue with Shareholders

(1)

The Company actively engages in dialogue with shareholders with the aim of enhancing corporate growth and increasing corporate value.
(2)

The Company nominates President & CEO as well as Directors in charge as the contact person of dialogue with shareholders. The President & CEO and Directors in charge shall actively participate in dialogue with shareholders in cooperation with the Corporate Management Department, the first contact point in charge of dialogues, and the General Affairs Department, in charge of shareholder management. At the request of shareholders and in other situations, the Company shall make available opportunities to interview outside directors and Audit & Supervisory Board Members. Directors in charge periodically reports the opinions, etc. of shareholders ascertained in the dialogue with them to the Board of Directors.
(3)

The main specific efforts are as follows:
(i) Business strategy presentation meeting for shareholders following the Ordinary General Meeting of Shareholders;
(ii) Results presentation meeting for investors held twice a year (the presentation video is posted on the Company's corporate website);
(iii) Briefing session for individual investors (constantly); and
(iv) Individual meeting (constantly).
(4)

The Company shall endeavor to prevent insider trading by providing ongoing training to employees, etc. in order to practice the appropriate management of insider information, and when disclosing information, shall make every effort to make accurate and prompt disclosures while emphasizing the fairness and soundness of market transactions.

Dialogue Results with Institutional Investors and Analysts (FY 2023)

Main correspondents from the Company

President and CEO, Senior Executive Officer, Executive Officer, persons in charge of investor relations

Dialogues conducted in the most recent fisical year

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	FY 2023
Financial Results Meeting	2
Small Meetings	4
1 on 1 meetings with Institutional Investors/Analysts (Domestic)	76	104
1 on 1 meetings with Institutional Investors/Analysts (Overseas)	28	104

Main Themes and Concerns discussed in the Dialogue

Real estate market trends, the Company's business model and growth strategies for each segment, shareholder return policy, initiatives to enhance corporate value, ESG initiatives, etc.

Feedback to Management and Board of Directors

The contents of the dialogue are constantly shared with the management. In addition, the opinions etc. of shareholders ascertained in the dialogue with them are reported on a quarterly basis to the Board of Directors by the President and CEO and the Director in charge, which are then discussed continuously within the Board of Directors in order to improve corporate value.

Measures implemented considering the dialogue

We utilize the opinions to enhance IR disclosure materials, promote sustainability management, formulate management plan etc.
We will continue our efforts to achieve sustainable growth and improve medium to long-term corporate value through constructive dialogue with our shareholders and investors.