Pursuing Stable Return of Profits and Building Trust
(Commitment to Shareholders and Investors)

Basic Approach to Shareholders and Investors

We actively communicate with shareholders and investors to help deepen their understanding of Air Water’s businesses and management strategies and also work to build trust on a stable, long-term basis by returning profits to shareholders in line with performance.

Communication with Shareholders and Investors

Air Water strives to disclose appropriate information in a timely manner and to proactively communicate with shareholders and investors through providing company information on our website and in publications, holding the general meeting of shareholders, and conducting IR activities both inside and outside Japan, among other activities, in order to build stable, long-term, trust-based relationships and provide shareholders and investors with an accurate understanding of our distinctive strategies and business model.
The information is disclosed and delivered earlier to shareholders in the Notice of Convocation of general shareholders’ meeting on our website. We also issue shareholder reports twice a year that seek to provide a clear presentation of our business activities and performance. For institutional investors and analysts, we hold earnings briefings each quarter via teleconferencing, arrange individual meetings, and organize an annual financial results briefing in which the president and responsible personnel of each business division participate. We also hold conferences for overseas institutional investors, in which the president also participates to have direct talks with overseas investors. We will continue to promote proactive communication in order to maintain and develop stable, long-term, trust-based relationships with our shareholders and investors, as well as analysts.

Disclosure Policy

Air Water endeavors to ensure prompt information disclosure to its shareholders and investors based on the principles of transparency, fairness, and continuity. In disclosing information, we comply with the Rules on Timely Disclosure of Corporate Information by Issuers of Listed Securities of the Tokyo Stock Exchange (hereinafter, “Timely Disclosure Rules”). We also endeavor to proactively disclose information not subject to the Timely Disclosure Rules in a timely manner.

Method of Information Disclosure and Efforts to Ensure Fair Disclosure

Information subject to the Timely Disclosure Rules is disclosed in accordance with the Rules via the Timely Disclosure Information System (TDnet) provided by the Tokyo Stock Exchange. Disclosed information is promptly posted on the Air Water IR website in principle. We also endeavor to disclose information not subject to the Timely Disclosure Rules according to the purpose of timely disclosure, so as to ensure that information is communicated correctly and fairly to investors.

Basic Policy on Shareholder Returns

Air Water works to strengthen its operating base to increase corporate value on a sustained basis and at the same time has positioned returning profits to shareholders as one of the most important tasks of management.
For this reason, our basic policy on dividend distribution is to pay a stable dividend in line with performance into the future, with a target payout ratio of 30% of consolidated net income, while maintaining adequate focus on enhancing internal reserves necessary for strategic investment and other measures to achieve growth over the medium to long term.