To build relationships of trust with our shareholders and other investors, we actively engage in dialogues with them in Japan and overseas throughout the year. In this dialogue, senior management,including the CEO, participates in quarterly financial results briefings, meetings with investors, and other events, striving to provide thorough answers to questions about management policy. We also hold briefings on our medium- to long-term management policy, individual businesses, and ESG, as well as plant tours from time to time. We also conduct parallel activities: those to deepen the understanding of the company, and those to listen to the voices of shareholders and investors so we can reflect them in our management. These include participating in overseas IR events and domestic and international IR conferences, holding meetings with major shareholders, exchanging opinions with investors regarding the Integrated Report, and conducting briefings for individual shareholders.

Overseas shareholders and investors: Approx. 40%, Domestic shareholders and investors: Approx. 60%

FY2024 was a year in which we promoted various reforms in line with the goals set forth in the Teijin Group Medium-Term Management Plan 2024-2025. The content of our dialogues with shareholders and investors covered a wide range of topics, including the implementation of measures to improve profitability, the execution of strategic options, and changes to our governance structure.

• It is clear that the business portfolio strategy was considered from the strength and best owner perspectives.
• We understand the direction of the transformation and the general direction for increasing ROE. It would be more convincing if you were to present the challenges you face, the paths to resolving them, and your future growth strategies.
• You can take pride in the fact that you have thoroughly carried out the Restructuring Initiatives, including the improvement of asset efficiency. Next, we would like you to organize and present the direction of your growth investments.

• Balance is necessary, but given the large amount of interest-bearing debt, you also need to consider financial soundness.
• The market is doubtful with regard to maintaining the 50-yen annual distribution. Adopting a stable distribution policy would attract more attention.

• To resolve differences of opinion between departments and positions, it is important to share common values and a purpose.

• We recognize that you are a step ahead of your peers, but your ROE and PBR remain low, and we would like to see improved governance lead to better business performance.

• It would be beneficial to present the circular economy by linking it to growth strategies, such as business opportunities and connections to business performance.
• Improving employee motivation and how you utilize human capital will be important for getting back on a growth trajectory.