The presence of “individual shareholders” is increasing, and what is the “strongest IR” revealed based on data from 60,000 investors including NTT, Mitsubishi Corporation, and Sony

NTT, Sony, Mitsubishi Corporation, Sanrio

With the start of the new NISA, Japan has entered the era of 100 million total investors. According to a Nikkei Shimbun survey,Of the February purchases of 10 major and online securities companies, 50% was made up of individual stocks.(as of March 14).

Naturally, an increasing number of companies are reconsidering how they deal with individual investors. In addition to increasing shareholder returns and attracting individual shareholders through stock splits, the company will also focus on IR PR.

The idea behind this move is to suppress organizational votes in the event of a proxy fight, as activist activities have become more active.

NTT Group, Sony Group, Mitsubishi Corporation, Sanrio, Kose, Furukawa Electric IndustriesParticipated in the IR briefing session ofApproximately 60,000 individual investorsAnalysis of this data reveals what Japanese shareholders want from companies. A surprising truth has come to light.

Daijin Shirafuji:Joined Link and Motivation in 2006. Appointed president of Link Corporate Communications in 2019. We provide a wide range of solutions in the IR field, including production of integrated reports and distribution support for financial results briefings, mainly for prime companies. Since 2023, he has been a director of the Japan IR Planners Association, a specified non-profit organization.

Misunderstandings and misunderstandings between companies and individual investors

There have been many individual investors in the past, but from a company’s perspective, they may not necessarily have been seen as important partners. actual,”Individual investors are looking for dividends and shareholder benefits.”There are still many companies that have this image.

If there is a negative impact such as a decline in business performance or stock prices, they will give harsh words, but in some cases they will provide support during a downturn, and individual investors consider them to be difficult to deal with. There may also be companies.

However, there is a misunderstanding.

First of all, with the recent increase in the number of activist shareholders,By securing a certain percentage of individual shareholders, it is possible to decentralize voting rights, and in some cases it is possible to suppress organizational votes through proxy fights..

In addition, by communicating well with individual shareholders on a daily basis and gaining a sense of trust, it is possible to create an environment where it is easier to obtain approval votes from the company, thereby increasing the number of individual investors and communicating with them more than ever before. is becoming increasingly important for IR activities.

However, the current situation is that it is difficult for companies to understand the thoughts of individual investors.

Compared to institutional investors, who have many opportunities for one-on-one dialogue such as IR interviews, individual investors and companies often face a large number of people, such as at IR days and general shareholder meetings.

Even when we talk about various measures such as “stock splits,” “shareholder returns,” “improving ROE,” and “M&A,” we often wonder, “How well did they understand?” and “which measures resonated with us, or didn’t resonate with us at all?” I don’t know how much it led to action.

Precisely because their relationship is like that of a “noren curtain”, misunderstandings can easily occur.

Reference article:Mitsui & Co.’s market capitalization is approaching 10 trillion yen.Trust built with investors by a former IR manager

NTT, Mitsubishi Corporation, Sony…Analysis of data from 60,000 individual shareholders

In response to these voices from companies, Link Corporate Communications, which I run, offers a service called “IR Dialogue.” When the president or CFO gives a presentation on financial results or IR policy at an online briefing session, “individual shareholders can evaluate their statements in real time.”

The button is“Huh!” “I already know that” / “Easy to understand!” “Hard to understand” / “Interesting!” “Boring”This makes it possible to quantitatively understand both positive factors such as “What are individual investors attracted to?” and negative factors such as “What are they not interested in?”

Until nowNTT Group, Sony Group, Mitsubishi Corporation, Seibu HD, Sumitomo Mitsui Trust HD, Kose, Sanrio, Furukawa Electric, Ebara Foods, Mitsubishi Chemical Group, Hirogin HD, DeNAhave been introduced.

The accumulated data of individual investors is from more than 120 briefing sessions,Approximately 60,000 peopleamount to minutes.

I would like to share with you some examples of positive and negative reactions that I discovered after analyzing the reaction data.

What attracted positive impressions was the company’s differentiation from its peers and the CEO’s passionate presentation

First, here is an example of a positive reaction.major telecommunications companySo, even in a business with a lot of competition,Differences in monetization methods compared to other companies in the same industryWhen I explained the high level of profitability, the response was, “I see! It’s easy to understand,” with an increased level of understanding.

Alsoreal estate companiesSo,”We are conducting sales activities targeting only specific occupations.”When a characteristic business strategy such as this was drawn, a reaction of new awareness occurred, saying, “Huh! That’s right.”like these“A convincing strategy” and “differentiation from other companies”It is important to emphasize the high level of effectiveness in dialogue with prospective investors.

AlsoEven when managers themselves give passionate presentations, individual investors receive positive reactions.Was. In fact, many people say, “I’m interested in being a manager because I entrust my assets to them.” “What kind of management is this company?”personality”What kind ofbackboneThere is,what do you want to achieveIn recent years, the number of companies issuing integrated reports has been increasing year by year, so individual investors who want to understand the thoughts and ideas of management by reading messages from top management are becoming more and more likely to do so. It will continue to increase.

Next, I will introduce an example that surprisingly attracted negative reactions.

One company did not receive a positive response despite its good performance, and instead received a less-than-convincing response, saying, “It’s hard to understand…” This is thought to be because the company was limited to communicating results such as “growth” in business results.Investors will not be convinced unless you mention not only the results that business performance is increasing, but also why those results were produced and how they will lead to future business results..

If we think about it in the context of sports, for example, can we believe that “We won last year, so we will win this year too” at Koshien? “One of the reasons we won last year was because of the results of the mental training of the club members.This year, in addition to that, we will work on strengthening the physical strength of the club members, and we will also review our scouting policy and think about strategies on our own, which is currently lacking. It would be more persuasive to explain concrete future strategies such as, “We are scouting and developing pitchers with a focus on strong players, and we are confident of winning this year as well.”

The same goes for capital markets. Regardless of whether the results are good or bad, it is important to be honest about why you think the results are the way they are.

Reference article:Job-hunting students and job-changers should read the IR materials.The recruitment page only has “neatly edited information”

Source: BusinessInsider


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