Open General Meeting of Shareholders

NGK endeavors to hold open General Meeting of Shareholders that its shareholders feel welcome to attend. Every year, we introduce NGK corporate activities at the General Meeting of Shareholders with booths displaying product exhibits explained by NGK staff.
We also make efforts toward expanding General Meeting of Shareholders-related information, including the following:

Explanation of initiatives related to the General Meeting of Shareholders: (1) Early delivery of convocation notice, (2) Early disclosure on the website, (3) Participation in the voting platform of the Tokyo Stock Exchange, and (4) Posting of materials for the General Meeting of Shareholders on the website. Annual Shareholders' Meeting

TSE Electronic Voting Platform: An electronic voting system operated by TSE. It allows people to vote not only through the conventional printed materials but also via the Internet, making the process more convenient for shareholders in Japan and overseas.

Two-Way Communication

In addition to regular presentations held in Japan and overseas, the NGK Group conducts one-on-one meetings and participates in interviews among other ongoing initiatives to expand dialogues with institutional investors. NGK senior management also visits and conducts one-on-one discussions with institutional investors in Japan and overseas.

Activities in Fiscal 2019

Activities Details
Japan Senior management conducted presentations for analysts and institutional investors twice this year. They also conducted one-on-one meetings and participated in interviews.
Overseas Senior management conducted overseas IR meetings targeting analysts and institutional investors twice this year.
Online IR Library Included financial reporting information, the timely disclosure of non-financial reporting information, securities reports, annual reports, General Meeting of Shareholder materials, and other information.

Investor Relations

NGK booth during the Nomura IR Fair. Numerous individual investors visited the booth.

Participation in Nomura IR Asset Management Fair

To familiarize individual investors with the details of business and performance of NGK, our General Affairs Department and the Finance & Accounting Department took part in the Nomura IR Asset Management Fair 2019 (sponsored by Nomura Investor Relations Co., Ltd.), held at the Tokyo International Forum.
With participation by a total of 62 listed companies and investment firms, the event attracted approximately 12,200 visitors over two days. The NGK booth used panels and small briefings to explain what NGK does and how it is performing.

Measures for Returning Profits to Shareholders

At NGK, returning profits to shareholders is considered one of the highest management priorities.
As a basic policy, we aim for management that focuses on shareholders and ROE. Based on this basic policy, we share profits while comprehensively taking account of our business performance, financial structure, and future business development. Our medium-term benchmark for the consolidated payout ratio is around 30%.
In fiscal 2019, we paid an annual dividend of 50 yen. The consolidated payout ratio stood at 59.0%.
We will keep striving to secure profitability above the capital cost and to maintain financial soundness. We opt to proactively return profits to our shareholders from the medium- to long-term perspective.

Changes in dividends per share over the past five years. Dividend per share in fiscal 2019 was 50 yen, the same as in fiscal 2018.
Changes in return on equity (ROE). For fiscal 2019, ROE was 5.8%.