To contribute to sustainable growth and improved corporate value over the medium to long term, Lacto Japan will build a long-term relationship of trust by actively engaging in constructive dialogue with its shareholders and investors.

Dialogue Framework

Dialogue with shareholders and investors is overseen by the Director in charge of Investor & Public Relations. It is also the Company's basic policy when it comes to dialogue to have the President, the Director in charge of Investor & Public Relations, or the General Manager of the Investor & Public Relations Department, attend meetings within a reasonable extent, taking into account the wishes of shareholders and investors, and the main matters of interest of the meetings.

Main Investor Relations Events and Information Disclosure

Dialogue with shareholders and investors conducted by the Company in fiscal 2025 (December 2024 to November 2025) is as follows.

Event

Details

Main Speaker

Financial results briefing

A financial results briefing for analysts and institutional investors is held twice a year after the year-end and second quarter financial results are released.

Information such as explanatory materials and main questions and answers from the day are posted on the Investor Relations page of the Company's website.

President

Executive Vice President (in charge of Investor & Public Relations)

Individual meetings

Individual sessions take place with domestic and foreign analysts and institutional investors.

Sessions: 63 in first half and 63 in second half (figures are total number of sessions that have taken place)

Executive Vice President (in charge of Investor & Public Relations)

General Manager of Investor & Public Relations

Small meetings

Small group meetings are held mainly for domestic institutional investors.

Sessions: 3/year

President

Executive Executive Vice President (in charge of Investor & Public Relations)

General Manager of Investor & Public Relations

Shareholder meetings

Sessions for shareholders take place every year for domestic institutional investors who are our main shareholders.

Sessions: 10

Executive Vice President (in charge of Investor & Public Relations)

General Manager of Investor & Public Relations

Briefings for individual investors

Lacto Japan takes part in briefing sessions planned by companies that support investor relations. Explanatory materials from the day are posted on the Investor Relations page of the Company's website.

Sessions: 2

President

Other information disclosure

IR-related materials such as financial results, timely disclosures, financial results briefing materials, supplementary materials, annual securities reports, quarterly reports, notice of convocation of the General Meeting of Shareholders, the Lacto Japan Newsletter (shareholder newsletter), and integrated reports are posted on the Investor Relations page of the Company's website.

We also have an About Lacto Japan page to help investors understand our business, features and strengths.

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Content of Dialogue and the Company's Response

Content of Dialogue and the Our Response
  • Business Performance: Differences from Initial Targets and Progress Against the Full-Year Forecast.
  • Changes in the Business Environment, Domestic Skim Milk Powder Inventory Status, and Future Outlook.
  • Asian Business Environment and Future Developments.
  • Medium-Term Growth Strategy.

　・Growth Potential of Key Businesses and Future Focus Areas.

　・Investment Plan: Progress on Construction of New Singapore Plant. 

    ・Financial Strategy and Shareholder Returns.

    ・Formulation of the Next Corporate Business Plan. (Exchange of Opinions Regarding Market Expectations and Disclosure Information)
  • Feedback from institutional investors. (Background, Approach, Expectations, Areas for Improvement)

   ・Investment Decision-Making Points and Management Structure.

   ・Evaluation of Current Stock Price.

   ・Communication with the Investor Relations & Public Relations Department and Areas for Improvement.

Matters incorporated based on dialogue (main points)
  • Shareholder returns

　・We plan to achieve our mid- to long-term target of a 30% dividend payout ratio this fiscal year ahead of schedule.
  • Enhance information disclosure

　・English Information Disclosure (Summar of Financial Results, Timely Disclosure, Financial Highlights)
  •  Strengthened Initiatives for Sustainability and Enhanced Disclosure

　・ Expanded Information Disclosure in the Integrated Report

　・ Response to a Survey by an External Evaluation Institution
  • Management with an Awareness of Capital Costs

　・Introduction of ROIC as a Divisional Profitability Management Indicator

Feedback for senior management and board of directors
  • Report on the content of dialogue with directors (monthly report format)
  • Report on investor feedback for senior management (as and when required)