Making Shareholders' Meetings Lively and Facilitating the Exercise of Voting Rights
To ensure our General Shareholder's Meetings are lively, we hold our meeting about 10 days before the period when most Japanese companies typically hold their meetings in an attempt to encourage the attendance of as many shareholders as possible.
In addition, voting rights can be exercised via computer, smartphone, mobile phone and Internet. Participating in the digital exercise of voting rights platform, institutional investors are ensured a sufficient amount of time to consider proposals starting on the day the convocation notices are distributed. We also post convocation notices in English on our corporate website to promote the exercise of voting rights by shareholders in Japan and overseas.
Capcom believes that the timely and appropriate disclosure of information is the duty of every listed company, and that accountability to our shareholders and investors is indispensable from the perspective of corporate governance.
To this end, our basic policy for IR activities involves (1) the establishment of a responsible investor relations framework, (2) the thorough disclosure of information, and (3) the creation of a system for the timely disclosure of information to enhance management transparency.
Capcom provides timely disclosure in accordance with the Securities and Exchange Law and other regulations including the "Rules on Timely Disclosure of Corporate Information" by Issuer of Listed Security (hereinafter Timely Disclosure Rules) stipulated by the Financial Instruments and Exchange Act and the Tokyo Stock Exchange.
It is our policy to disclose as much information as possible, including the disclosure of information not required by the Timely Disclosure Rules and other regulations, to accommodate our investors' needs.
We also disclose information through our corporate website in an attempt to provide quick and fair disclosure. Shareholders are informed of operating results and business conditions through shareholder letters.
To prevent the unauthorized disclosure of quarterly earnings information prior to official announcements, Capcom has established a quiet period starting one month prior to the scheduled earnings announcement. During this period, we refuse all inquiries relating to our business performance. However, if significant changes to our earnings outlook are anticipated during the quiet period, we will disclose this information pursuant to the Timely Disclosure Rules and other regulations.
High Praise for Proactive IR Initiatives
In recognition of our ongoing pursuit of timely and appropriate information disclosure, our IR activities and various IR tools have received a number of awards from third-party organizations. In addition to receiving the Award for Excellence at the Nikkei Annual Report Awards 2014 in the fiscal year ended March 2015, our IR website was selected by Daiwa Investor Relations for the Internet IR Grand Prize and we ranked third overall in the Fiscal 2014 Listed Company Website Quality Ranking.
With an awareness of the importance of accountability, we will continue our efforts to earn the trust of investors and provide timely disclosure.
Fiscal 2014 Third Party Evaluations
|IR Activities||Institutional Investor magazine 2014 All-Japan Executive Team Best IR Companies, Software (Entertainment) category.|
|Annual Report||Nikkei Annual Report Awards 2014, Award for Excellence|
|League of American Communications Professionals (LACP)
2013 Vision Awards Annual Report Competition, Silver Award,
|IR Website||Daiwa Investor Relations Co., Ltd.
2014 Internet IR Grand Prize
|Morningstar Inc./Gómez Consulting
Ranked 2nd overall in Gomez IR Website Ranking 2014
|Nikko Investor Relations Co., Ltd.
Ranked 3rd overall in the Fiscal 2014 Listed Company Website Quality Ranking
Reflecting Results of Dialogues with Investor and Analysts in Management
Through meetings with the stock market, Capcom's IR Department attempts to promote an understanding of management policies, strategies and future outlook among investors and analysts. Furthermore, stock market opinions are gathered and provided to management, which is utilized for corporate management going forward. As a company based in Osaka, proactive IR meetings with the stock market enable us to minimize asymmetric information as we strive to achieve appropriate corporate value. This fiscal year, meetings with investors in Japan and overseas and conference calls amounted to nearly 350 points of contact with investors.
Fiscal 2014 IR Measures
|Visited domestic investors||85|
|Visited overseas investors||94|
In addition, we conducted various initiatives ahead of the Corporate Governance Code going into effect. Specifically, our General Affairs Section collaborated with the Investor Relations Section on takeover defense measures, arranging meeting opportunities with shareholders in Japan and overseas. In these meetings, we made an effort to promote understanding of the necessity of these measures by repeatedly emphasizing the validity of our arguments and making changes where necessary.
Next, we set up small meetings between external directors and investors to facilitate frank discussions pertaining to governance. We also arranged opportunities for senior management to exchange opinions directly with investors, who were provided with a chance to experience the latest virtual reality(VR) technologies. At our earnings presentation, we showed videos of developer interviews related to new titles investors are focused on, as well as a variety of other new initiatives aimed at reflecting stock market opinions and demands. In addition, Capcom conducts a perception gap study every year targeting investors and analysts in Japan and overseas. Being aware of investor perception gaps with regard to management objectives, business strategy and shareholder's return enables us to fine-tune corporate management and IR activities. Questionnaires are also given to attendees at our semiannual Presentation of Financial Results and individual investor briefing sessions, which we make proactive use of as one management criterion to determine stock market opinion.
Specific examples of how this information is used include (1) medium-term business goal revisions, (2) enhanced business strategies, (3) information disclosure content and timing reviews and (4) group meetings with management.
Perception gap study feedback report
Developer interview video
|CEO small meeting||Speaker: Kenzo Tsujimoto, Chairman and CEO|
|External director small meetings||Speaker: Takayuki Morinaga, External Director|
|Earnings supplementary explanatory administrative officer conference call||Quantitative-related supplemental conference calls before/after earnings announcement|
|Latest technology experience-based event||Conducted experience-based demonstration of latest VR technologies, promoted understanding of Capcom development technologies|
|Showed developer interviews during earnings presentation||Used developer videos to explain development status of latest titles of high interest to the market|
|Conducted perception gap study||Conducted assessment survey targeting investors and analysts in Japan and overseas regarding Capcom's management targets, strategies and IR activities, provided feedback to management|
Perception Gap Study Investor Feedback (Excerpts)
Utilizing a Website Easily Accessed by Everyone
Since 2001, Capcom has made proactive use of its corporate website as a tool for disseminating information pertaining to IR activities. The main reasons for this are to emphasize the importance of information disclosure procedures within corporate governance, to ensure fairness for a wide range of stakeholders, including investors, analysts, the mass media and job-seekers, and because it easily ensures information is available for inspection immediately in Japan and over 200 countries worldwide. Capcom's corporate website is positioned as our most cost-effective tool from the perspective of printing and shipping costs.
Capcom IR for iOS App for the iPhone (Japanese Only)
This app delivers up to date IR information, including the latest press releases and earnings information. Using the simple touchscreen interface, IR materials such as financial result summaries, presentation materials and integrated reports can viewed and saved, users can sign up to receive announcements regarding press releases and other breaking news and register for IR events. We encourage everyone to make use of this application.
Full-Time Staff Engaged in a Wide Variety of Activities
Capcom IR activities are conducted by two full-time staff members in addition to the chairman, the president and the IR director on behalf of shareholders and investors in Japan and overseas. For earnings information and other IR-related inquiries, please contact the IR team.
Public Relations & Investor Relations Section
9:00–12:00, 13:00–17:30 (JST)
(excluding weekends and public holidays)
|Corporate Governance (PDF:1.28MB/18 pages)|