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Initiatives on Behalf of Shareholders and Investors

The basic stance of Harmonic Drive Systems Inc. toward our shareholders and investors is to live up to the expectations of stakeholders as a meaningful company and to endeavor to improve the soundness and transparency of our corporate management in order to raise our corporate value.

Corporate Governance

Corporate Governance Structure

We have adopted a corporate auditing system based on institutional auditing, as a company with Board of Auditors as prescribed in the Companies Act. We have further adopted a basic policy of building an internal control system as a system for ensuring that the performance of duties by directors complies with laws and with the Articles of Incorporation, and as a system for ensuring that other operations are carried out properly. In addition to making sure our operations are carried out based on this policy, we continue to conduct reviews and make improvements aimed at building a more effective internal control system. We implement a risk management system based on Crisis and Risk Management Regulations, creating an organization equipped for risk management and crisis response as it carries out management by safe and responsible means.

Information Disclosure Policy

We disclose corporate information in compliance with the Financial Instruments and Exchange Act as well as in accordance with the "Rules Regarding Timely Disclosure of Corporate Information by the Issuer of Listed Securities" (Timely Disclosure Rules) of the Tokyo Securities Exchange. We also have a policy of forthrightly and fairly disclosing information deemed to be useful for helping shareholders and investors better understand our company.

Methods of Timely Disclosure

Our basic stance regarding corporate information that may have a material effect on investment decisions by investors is to disclose such information in a timely and proper manner, in compliance with our company regulations including Rules on Managing Insider Transactions.
Regarding material information, including that of our subsidiaries, whether determined facts, occurred facts, or information on financial results, we concentrate management in a Chief Information Officer (Chief Financial Officer) appointed by the President.
The Chief Information Officer (Chief Financial Officer), upon receiving a report of corporate information, confers with the relevant departments, determines whether disclosure is required by the Timely Disclosure Rules, and decides the contents and timing of the information disclosure with the approval of the representative directors. In the case of matters requiring a decision of the Board of Directors, as soon as a decision is made, the matter is notified to the Chief Information Officer (Chief Financial Officer), who decides its timely disclosure.
The Chief Information Officer (Chief Financial Officer), upon deciding to make timely disclosure, instructs the investor relations department on regarding the disclosure procedure and management of the relevant corporate information.
Disclosure is made through registration of the information with the Timely Disclosure Network (TDnet) and, as necessary, by sending materials to media organizations, etc. The same information as that registered with TDnet is also published on the company website.

Dividends Policy

At HDSI, our basic policy is to distribute earnings in accordance with operating performance.
While our general dividend policy is to maintain an annual dividend payout ratio of 30% (30% of Net income attibutable to owners of parent), we determine return to shareholders through comprehensive considerations including dividend continuity and the maintenance of sufficient internal reserves.

Shareholders' Meeting

The company holds an Ordinary General Meeting of Shareholders in June of each year.
Following the meeting, a shareholders reception is held at which shareholders can meet directly with company officers in a casual setting, as well as viewing our products and learning about the latest developments, providing a valuable opportunity for shareholders to get to know our company better.

Initiatives on Behalf of Stock Analysts and Institutional Investors

Presentation of financial results

For stock analysts and institutional investors, a presentation meeting is held following the announcements of annual financial results and second quarter financial results, at which the Chairperson, Representave Director and CEO and the Executive Officer for Corporate Planning and Finance explain the results. In addition, the investor relations department welcomes individual requests for discussions following each quarterly announcement of financial results. In response to frequent requests, we also offer tours of the Hotaka Plant at any time.

Other Investor Relations Services

Besides disclosing information as required by laws and regulations, our policy is to make available information believed to be relevant to investment decisions, and to do so actively, fairly, and in a timely manner. In keeping with our efforts to make timely and proper disclosure, the parent company data on new orders received and net sales, of particular interest to investors, is announced around 10 business days following the end of each quarter.

Presentation to individual investors

At least once a year, a company presentation led by the Chairperson or the Executive Officer for Corporate Planning and Finance is given for individual investors, for deepening understanding of our business and products and providing a forum for active communication with individual investors.

Information Provision Using This Website

Information for shareholders and investors on this website is not limited to financial information but includes information about our overall business management and materials given at company presentations.
The documents disclosed using Timely Disclosure Network (TDnet) are also published the same day on the website, as we strive for fair information disclosure.

Investor Relations