Status of Dialogue with Shareholders(From 1 June 2022 to 31 May 2023)
SANYO SHOKAI LTD.
28 July 2023

Status of Dialogue with Shareholders
60 annual IR/SR dialogue with Representative Director, President & CEO as amain speaker. Discussed specific measures to achieve operating profitability,
Medium-term Business Plan and ESG initiatives.
Status of Dialogue
Total number of IR/SR dialogue1 60

Outline ofShareholders/Institutional Investors
Active & Passive

Overseas
29%

Speakers
IR/SRmeeting

Financialresultsmeeting

39%

Domestic/
Overseas
Representative Director, President & CEO
Executive Managing Officer
GM of Corporate Management HQ(Chair of Sustainability Committee)
General Manager of IRStyles2

71%
Domestic61%
ActiveMajor Topics and Interests of Shareholders

Representative Director, President & CEO
Director, Senior Executive Managing Officer
GM of Business HQ and Marketing & Digital
Strategy HQ• Changes in the market environment due to the calming
down of COVID-19• Business model and strengths• Structural reforms and operating profitability• Medium-term business plan and growth strategy
General• ESG initiatives
All Directors and Corporate Auditors
meeting of‒ Identification of our materialityshareholders‒ Initiatives to reduce GHG, CSR procurement,diversity, employee engagement
1. Includes financial results meeting and GMS 2. Excludes securities and industrial corp.
‒ Board structure and succession plan
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1

Status of Dialogue with Shareholders
Timely feedbacks to Board. Discussions on future growth strategies,shareholder returns, share price measures and the identification of materiality
were major outcome from dialogue.
Feedbacks to Board of Directors
Freq. MethodComments
fromsharehold Twiceers/Insti- a year
tutional
investors

IRreports

Report toBoard ofDirectors/
explanatory
meeting

Report/email
to Board ofTimely Directors/
explanatory
meeting

Copyright ©SANYO SHOKAI LTD. All Rights Reserved.

Outcome of Dialogue

Contents

Input

StatusSummary of
dialogue withshareholders after
Q2/Q4
announcements offinancial results, aswell as input for
improvement

Requests for disclosure andexplanation of specificdetails of future growthstrategies

Confirmed that preparations
will be made to include
specific details of future
growth strategies in the next
medium-term business plan.

Requests for strengthening
shareholder returns andstock price measures

Confirmed that shareholder
return policy could be flexibly
revised while monitoring
performance. Promoting
preparations for disclosing
plans to improve PBR.

Materiality identification
Recommendations

4 materialities wereidentified and disclosed in
the financial year ended
February 2023.

Improvement of employee
engagement disclosure; notonly degree of improvementin overall score but also
degree of leverage in areasof shortage

Currently preparing fordisclosure in March 2024,
led by HR and Sustainability
Committee.

IR strategies,
priority measures,issues andcountermeasures,
share price/index,etc.

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Disclaimer
This material was prepared to provide information related to the finances, business, etc., of SANYO SHOKAI LTD. and its affiliated companies;
it is not a full declaration or guarantee and was not prepared to solicit investments. Decisions regarding investing in the Company should bebased on one's own judgment, not on information provided in this material.
In addition to historical results, information in this material includes the Company's outlook for the future, and the outlook may change on
account of various social and economic developments. The Company bears no responsibility for losses incurred on account of the use of
information provided in this material.
The Company is not obligated to revise the outlook included in this material in accordance with new information and future developments, orto publish any revisions.
This material does not include all information the Company discloses to entities such as securities exchanges and may use expressions
different than those used in disclosure material. Information in this material might be deleted or changed without notification.
Although the Company has carefully prepared this material, it bears no responsibility for incorrect information, problems due to informationthat is altered or downloaded by third parties, etc., regardless of the reason.