The Kobe Steel Group strives to increase the corporate value of the Group as a whole by pursuing business development from a medium- to long-term perspective. As part of our efforts, we naturally place a high priority on returning profits to shareholders and recognize the importance of enhancing management transparency through open communication with all stakeholders, including shareholders and investors. To that end, we are committed to the appropriate and timely disclosure of a broad array of information and to its widespread release.
Kobe Steel places high priority on returning profits to shareholders and is committed to increasing its overall corporate value by pursuing business development from a medium- to long-term perspective.
The distribution of profits is decided based on comprehensive consideration of various factors, including the company's current financial position, trends in business performance, and future demand for capital. With regard to dividends, Kobe Steel's policy is to provide continuous and stable distribution, taking into account such factors as each period's business results and the payout ratio.
We make use of internal reserves in an effort to improve profitability by allocating a portion to investment for future growth and to improve and strengthen our financial constitution.
For the foreseeable future, we will share our profits in accordance with our business results, targeting a dividend payout ratio of about 15 percent to 25 percent of our consolidated net income.
Our Articles of Incorporation stipulate that the distribution of retained earnings shall be determined by the Board of Directors based on Article 459-1 and Article 460-1 of the Companies Act.
Accordingly, dividends are in principle paid out twice a year, at the end of the half-year period and at the end of the fiscal year, as stipulated by the Articles of Incorporation, after resolution by the Board of Directors. For dividends to be paid out on any other date, the date must be designated separately by the Board.
* Dividend payout ratios are not applicable for fiscal 2012, fiscal 2015 and fiscal 2016 due to the posting of a consolidated net loss.
* As Kobe Steel carried out a share consolidation at a ratio of 10 shares to 1 share on October 1, 2016, yearly dividends listed above were stated assuming the occurance of a share consolidation at the beginning of fiscal 2012. Additionally, dividends were not paid in fiscal 2012 and fiscal 2016.
* As the share conconsolidation of 10 shares to 1 share was implemented on October 1, 2016, net income (loss) per share was calculated assuming the occurance of a share consolidation at the beginning of fiscal 2012.
Ownership of Shares (as of March 31, 2017)
Kabunushi no Minasama e ("To Our Shareholders"),
To maintain the trust and support of shareholders and investors over the long term, we take accountability very seriously and strive to make timely and appropriate disclosures of corporate information and financial data.
We disclose information in strict observance of statutory disclosure standards and in accordance with stock exchange rules for the timing of disclosures. We also strive for the active, prompt and ongoing release of disclosable information relevant to investment decisions and to release this same information in English so that it is accessible to stockholders and investors overseas.
Our aim is to facilitate an accurate appraisal of corporate value through adequate understanding of the Kobe Steel Group's business conditions and activities.
We see shareholders' meetings as a forum for communication with shareholders. To encourage as many as possible to exercise their voting rights, we send out invitations and post announcements on the Kobe Steel website well in advance, release information in English for the benefit of overseas members, and choose dates that do not conflict with other major shareholders' meetings. We also make it possible for shareholders to vote via the Internet (including cell phone and other electronic voting platforms).
Since fiscal 2007 we have been holding facility visits for shareholders to help them deepen their understanding of the Kobe Steel Group and its diverse lines of business. To date we have invited 5,365 shareholders (including their partners) to a total of 19 tours. The following are the sites that have been visited thus far:
|Kakogawa Works||Steel||Kakogawa, Hyogo Prefecture|
|Kobe Works, Kobe Power Plant||Steel, electric power||Kobe, Hyogo Prefecture|
|Takasago Works||Steel (steel castings and forgings, titanium products, steel powder), machinery||Takasago, Hyogo Prefecture|
|Moka Plant||Aluminum (aluminum sheet)||Moka, Tochigi Prefecture|
|Kobe Corporate Research Laboratories||R&D||Kobe, Hyogo Prefecture|
|Kobelco Construction Machinery Co., Ltd. GEC/Itsukaichi Factory||Construction machinery||Hiroshima, Hiroshima Prefecture|
We will continue to hold tours at various sites in the future to give shareholders a deeper understanding of our operations. We will also consider holding tours at new sites and increasing the number of tours given.
Facility Tours for Shareholders
We hold briefings on financial results four times a year for institutional investors and securities analysts in Japan, to give them a better understanding of Kobe Steel's management policies, operating results, and financial position.
We also arrange individual meetings to maintain ongoing communication with institutional investors and securities analysts, both at home and abroad.
The Kobe Steel website
In addition to publications such as Kabunushi no Minasama e ("To Our Shareholders"), a Japanese publication that is sent to shareholders semiannually, we also provide an English annual report, annual securities report (in Japanese), this sustainability report, and other information for individual investors on our website. We also hold company information sessions.
In 2015 we updated our website, putting effort into giving visitors a deeper understanding of the Kobe Steel Group. In addition to postings of the latest news and publications, this also included layouts that make it easy to search for group products and technologies, videos of manufacturing facilities, and pages for Group products and technologies in high-demand fields.
We have also opened websites in English and Chinese so that investors overseas can learn more about the Kobe Steel Group.