Relations with Shareholders and investors
 
■ Securing of Efficiency, Soundness, and Transparency of Management
In order to secure the efficiency, soundness, and transparency of management, and to continuously improve our corporate value while fulfilling the social responsibilities of a corporation, we have targeted the strengthening of corporate governance as one of our most important challenges.

Nichicon introduced the "operating officer system" in June 2003, and through close cooperation with our board of directors, we have made efforts to improve management system and organization so that it can effectively address ongoing changes in the business climate. Members of the board of auditors regularly attend board of directors and other important meetings to give their input. They carry out compliance audits, including investigations on our directors' business execution, our group's business, and the current status of company assets. We have also set up the Audit Office, which reports directly to the president, and executes scheduled audits on the progress of operations for each business office.
System of corporate governance


■ Aggressive IR Activity
The Nichicon Group makes efforts to disclose corporate information and financial information at the right time. We are continuously disclosing the quarterly information of our closing accounts, giving briefing sessions to explain our closing accounts every half year, etc., and the president himself explains to our shareholders and investors the financial information and strategy of our group, etc., in an easy-to-understand manner and in detail.

In addition, we make prompt and fair information disclosure by uploading the investor information contents in our homepage, in which you can also view the brief announcement of the most recent financial statement, Annual Report, etc.


■ Securing of Sound Financial Structure
Without a sound financial structure, a positive business strategy that aims at further growth could not be possible. The Nichicon Group sustains a stable financial structure, and secures strong soundness with a sharholders equity ratio of 74.4%, whose average in the listed companies in japan is said to be about 30%. Moreover, even in a recent business environment where the competition in the market is severe, our financial structure is rock-solid as we continue non-debt management without having any interest-bearing debt at all.
■ Basic Policy Concerning Profit Allocation
We recognize that the passing on of profits to our shareholders is one of the most important challenges in our business. For this purpose, we have a policy that we should aim at the expansion of enterprise value and strengthening of the business structure by securing the reliability of our products, as well as by promoting eco management, and that we should make efforts to have a stable increase in dividends by increasing profits.

Our internally reserved capital should be used, looking toward the future, for investments to enhance enterprise value, such as investments in the expansion of existing core businesses and for R&D, which is necessary for new product development to cope with user's needs etc.

Cash Dividends per share

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