Shareholders and Investors

Kureha recognizes the importance of providing timely and appropriate information and promoting constructive dialogue with shareholders, investors, and all of our stakeholders in order to be a company needed by society and earn widespread public understanding and trust. Our Corporate Governance Guidelines set policies to promote constructive dialogue with shareholders and investors. In line with these Guidelines, we are conducting various IR activities that help us communicate to all of our stakeholders about our Company in a way that is easy to understand.

Goals and Vision

  • Be a company needed by society and earn widespread public understanding and trust.

Fiscal Year 2022 Plan

  • Proactively create opportunities for dialogue with shareholders and investors.
  • Enhance explanations of non-financial information.

Fiscal 2022 Performance and Outcomes

  • Through the use of online meetings and conferences hosted by securities companies, interviews were held with a total of 241 companies (105% of the previous fiscal year) and 435 individuals. As a result, we were able to provide a wide range of investors with information on our business strategy and other aspects of improving our corporate value over the medium to long term. Moreover, increased opportunities to hear information and requests from investors have enhanced the content of reports to management.
  • The first overseas roadshows since 2019 promoted understanding of the demands of overseas institutional investors, which are becoming increasingly important.

Approach to Information Disclosure

Based on the Basic Policy on Information Disclosure, we will disclose information in a timely and appropriate manner in compliance with relevant laws and regulations and the Timely Disclosure Rules set out by stock exchanges, with a basic principle of information disclosure aimed at being a company that is trusted and supported by society. We also disclose information in a timely and appropriate manner when we judge that the information is useful to our stakeholders, unprompted by laws and regulations. We believe that disclosing information in a fair and continuous manner will lead to increased management transparency and stakeholder trust.

Basic Policy on Information Disclosure

Kureha Corporation ("Kureha") will disclose information in a timely and appropriate manner with a basic principle of information disclosure aimed at being a company that is trusted and supported by society.


  1. Kureha will disclose information to stakeholders in a timely and appropriate manner in compliance with Japan's Financial Instruments and Exchange Act, the Timely Disclosure Rules set out by stock exchanges, and relevant laws and regulations.
  2. Kureha will disclose information that is covered by Japan's Financial Instruments and Exchange Act, Timely Disclosure Rules, and other relevant laws and regulations using the method provided for in the rules, such as the Timely Disclosure network (TDnet) of the Tokyo Stock Exchange.
    Kureha will also publish the disclosed information promptly on the corporate website. Kureha will disclose information that is not covered by Timely Disclosure Rules in a timely manner based on the spirit of timely disclosure through such means as providing materials, holding press conferences, organizing briefing meetings, distributing printed materials, and on the corporate website.
  3. Kureha will disclose information based on this policy. The Sustainability Coordination Committee will also appropriately review the appropriateness of information disclosures that have been made.

Dialogue with Shareholders and Investors

Kureha holds its annual general shareholders' meetings in late June each year. The convocation notice is posted on our website and sent out by mail in early June, allowing shareholders the necessary time to examine the agenda. When exercising voting rights, shareholders may choose to exercise their voting rights via the Internet. At the general shareholders' meetings, we make use of video and other innovative methods, and we strive to provide frank and detailed explanations in response to questions. In addition, we began live streaming meetings in fiscal 2022 for shareholders who are unable to attend the meeting in person.
Twice a year, we provide our shareholders with the Kureha Report, which summarizes our financial results and other topics to promote a better understanding of our Company. We have also established an Inquiries about IR contact form and enhanced the content on our website to assist shareholders and investors in obtaining information and understanding our Company.
For institutional investors and securities analysts, we regularly hold briefings on growth scenarios based on our mid- to long-term management plan, financial results, and future prospects, and answer their questions. In order to deepen their understanding of our Company, we also engage in proactive dialogue through individual interviews and small meetings in Japan, as well as visits to directly meet with overseas institutional investors. We have set financial and non-financial KPIs in our mid- to long-term management plan based on the opinions of our shareholders and investors, aiming to achieve sustainability management that combines improvement of corporate value and contribution to a sustainable society.

Approach to Shareholder Returns

The Kureha Group's mid- to long-term management plan has set a basic policy to maintain stable dividends with a target payout ratio of 30% or more, while enhancing internal reserves to enable active investment in future business expansion. In addition, we aim to achieve a total payout ratio of 50% or more through share repurchases, acquiring a cumulative total of approximately ¥20 billion in treasury stock during the three-year period ending fiscal 2025 to meet the expectations of our shareholders.

  FY 2018 FY 2019 FY 2020 FY 2021 FY 2022
Annual dividend per share (¥) 165 170 170 210 270
Dividend payout ratio (%) 24.3 24.5 24.6 28.9 31.2
  • -Includes the FY2018 \10 commemorative dividend.