Communication with Stockholders and Investors
In accordance with its Information Disclosure Policy, Toray makes sure to disclose information required under laws and regulations in an accurate, timely and appropriate manner, as well as a broad range of additional information beyond these requirements. Toray's Investor Relations Department was established directly under the president to liaise with stockholders and investors, aiming to create as many communication opportunities as possible.
Number of responses to investor inquiries
Reporting scope: Toray
Fiscal 2016 target:
No annual numerical target
Holding Investor Relations Events to Meet Directly with Stockholders and Investors
Toray conducts same-day briefing sessions for institutional investors and securities analysts to coincide with the release of quarterly and annual earnings results, and fields interview requests from the media. The table below summarizes the main investor relations activities that were conducted in fiscal 2016. Feedback received at investor briefing sessions and through communication with investors and stockholders is regularly reported to the Board of Directors and Corporate Communications Committee, helping to guide management and business activities.
|Activities||Attendees from Toray||Number of events||Number of participants/frequency|
|Briefings on business results announcements||President, Director in charge of Investor Relations Department, Director in charge of Finance and Controller's Division||4 times/year||616|
|Meetings and conference calls with investors and analysts||Director in charge of Investor Relations Department, General Manager and staff of the Investor Relations Department||As required||646|
External Evaluation of Information Disclosure to Investors
In the "Investor Relations" section of its corporate website, Toray provides information about its financial results and management policies and strategies for stockholders and investors. In an effort to disclose information fairly, Toray promptly posts financial data and presentation materials, including English translations, used in its briefings for institutional investors. In fiscal 2016, Toray's publications were evaluated externally by a number of organizations, as shown below.
|Daiwa Investor Relations Co., Ltd.||Awards for outstanding websites in 2016|
|Nikko Investor Relations Co., Ltd.||Most outstanding site in overall completeness, in a ranking of listed company websites in 2016|
|MerComm, Inc. (US)||2016/2017 Mercury Excellence Award in Annual Reports—Overall Presentation (Bronze in the field of chemicals)|
|League of American Communications Professionals (LACP)||Silver Award in the digital-based reports category, 2016 Vision Awards Annual Report Competition|
Evaluations from the Perspective of Socially Responsible Investment
Toray was included in the following SRI indices as of March 31, 2017.
- Dow Jones Sustainability Index Asia Pacific
- MSCI Global Climate Index
- Ethibel Pioneer & Excellence Registers
- Morningstar Socially Responsible Investment Index (MS-SRI)
- Euronext Vigeo World 120 Index
- Sompo Japan Nipponkoa Asset Management (SNAM) Sustainability Index
Convenient General Stockholders Meetings
For the convenience of its stockholders, Toray avoids holding its general meeting of stockholders on a date when many other companies in Japan hold their meetings. Toray also sends out notices of its general meetings of stockholders as early as possible to give sufficient time for stockholders to plan their attendance. In fiscal 2016, 1,756 stockholders attended the Company's ordinary general meeting of stockholders, down from 1,972 in fiscal 2015.