When any shareholder wishes to discuss with Meidensha’s ideas that will contribute to the medium- to long-term improvement of our corporate value, our policy is that our management will engage in such dialogue to the extent possible.

We have established a system whereby each special department for IR and SR under the IR & SR Director works to strengthen external communication while simultaneously enhancing communication and creating opportunities for discussions with shareholders, including institutional investors. These activities are also regularly reported to and discussed by the Board of Directors.

We hold Q&A sessions on financial results twice a year in May and October (or November). In FY 2024, the video of the President explaining the financial results was distributed to analysts and institutional investors who registered for the Q&A session immediately after the disclosure of the financial results, and the Q&A session was held on the following business day via a web conference.

In FY 2024, 100 analysts, institutional investors, and others participated in both the interim and full-year financial results announcements.

Since FY 2018, we have held small meetings once a year. We set a different business theme each year and create an opportunity to better understand our business by giving presentations and holding Q&A session with the relevant managing officers.

Seven analysts attended the small meeting for the Power Infrastructures Business Group held in February 2025. After a report on the overall state of business by Managing Executive Officer Hiroshi Takahata (IR head) and an explanation of the power infrastructure business by Power Infrastructures Business Group Managing Executive Officer Shinichiro Kon, questions were taken from those in attendance.

In FY2024, Meiden showed a company introduction video aimed at investors at SMBCs Nikko Securities Inc.’s Nikko Web IR Day. About 1,800 individual investors viewed this video and learned about our business, growth strategy, shareholder return policy, and more.

We publish a quarterly IR report that includes the opinions and requests given at financial results briefings and individual meetings and this report is given to internal and external directors, executive officers, heads of business units, the Staff Business Unit, managers, and others. The main themes that came up in discussions with analysts and institutional investors in FY2024 are as follows.

This section will introduce some case that we reflected the opinions and realizations we received through conversations with analysts, institutional investors, and shareholders to our activities.

Going forward, we will continue to proactively communicate with our shareholders and investors by enhancing opportunities for dialogue through financial results briefings and individual IR/SR, as well by expanding information disclosure on our website and in reports and other publications.