Dialogue with Shareholders and Investors

Status of Dialog Implementation in FY2023

Overview of NSK Respondents

Representative Executive Officer, Executive Officer responsible for Corporate Planning and Investor Relations

Overview of Participating Shareholders

Investment style: active, passive (domestic and overseas)
Counterparts: Fund managers, analysts, responsible investment representatives, shareholder voting representatives

Breakdown by Dialogue Format

Financial conference (large meetings)

4 times for a total of 378 companies

Individual IR interviews

Total of 266 companies

Institutional investor engagement visits

Total of 19 companies

President’s small meetings

5 times for a total of 55 companies

Online IR roadshows (Europe, North America, Asia)

16 companies

Participation in Investor Conferences outside Japan

5 times for a total for 37 companies

Main Topics of Dialogue and Matters of Interest to Shareholders


  • Current performance and future outlook
  • Details and progress of Mid-term Management Plan 2026
  • Mid-term initiatives to improve ROE and PBR


  • Cash Allocation


  • Reduction of cross-shareholdings
  • Composition of the Board of Directors
  • Discussions at Board of Directors meetings (opinions of outside directors, etc.)
  • Development of management personnel
  • Disclosure of employee engagement survey results
  • Human Rights due diligence initiatives

<Other Matters>

  • Discussion of approach to revision of voting standards for institutional investors
Status of Feedback to Management, Board of Directors, etc.

The results of the above dialogue were reported to management as necessary, and the Board of Directors was also briefed on the results of the dialogue and the approach to future approach to disclosure based on the feedback received.

Policy Adopted Based on Previous Dialogue (Including FY2024 Initiatives)
  • Further reduction of policy shareholdings
  • Adopt DOE from FY2025 (in addition to a dividend payout ratio of 30%-50%, to ensure stable profit returns)
  • Organizing materiality
  • Enhanced disclosure of employee engagement survey (Integrated Report)