Dialogue with Shareholders and Investors

Policy on dialogue with shareholders

We recognize that constructive dialogue with shareholders is important for our sustainable growth and the enhancement of corporate value over the medium to long term. We continue to develop measures and mechanisms to encourage such constructive dialogue.
Through IR activities overseen by the director in charge of the Corporate Planning Division, we strive to communicate NX Group management strategies and policies clearly for a better understanding of who we are and what we do.
We report opinions collected from shareholders and investors to the Board of Directors on a semiannual basis. We strive to reflect this feedback in management after discussions at Board of Directors meetings that include outside directors.

Presentations for institutional investors

1.Financial results presentation

We offer presentations twice annually on the day we publish year-end and interim results. The president and CEO, division chief general managers, and other senior executives provide explanations and respond to questions.
During our first and third quarter financial results presentation, the director in charge of finance explains the details and answers questions via online conference, etc.
We publish the content of quarterly financial results presentations and an extract of Q&A sessions on our website. On-demand videos of our annual and interim financial results presentations are also available in English and Japanese.
Financial Results Presentations

2. Small meetings, securities firm-sponsored conferences

Our president and CEO or other senior managers, as appropriate, participate in small meetings with analysts and institutional investors.

【FY2023 Results】
Our president and CEO participated in a small meeting held on March 7, 2023.
We also participated in conferences sponsored by securities firms, viewing these conferences primarily as opportunities to meet with foreign investors.

3. IR Day

Our president and CEO and executive directors participate in business briefings and IR Day events for fund managers, analysts, and institutional investors. In these presentations, we explain our initiatives across each business and other information.

【FY2023 Results】
We held an IR Day on September 14, 2023, discussing sustainability management, global business growth strategy, expanded synergies through PMI, and Group management strategies, among other information.
IRday

Individual dialogues with institutional investors

1. Response to institutional investors

We conduct individual interviews for analysts mainly via telephone or online conferencing. These dialogues are based on financial results presentation materials and monthly information disclosures, etc., and include an explanation of our business, including logistics market trends and business environment.

2. Response to overseas investors

Our president and CEO and the director in charge of the Corporate Planning Division meet regularly with overseas investors via conference calls and at conferences sponsored by securities firms. In addition to visiting overseas investors in person and participating in interviews, we conduct interviews via teleconference and web conferencing.

3. Dialogue with shareholders

Item	Status
Main representatives	President and CEO, managing executive officers, executive officers
Main representatives	Investor Relations Promotion Group, Corporate Planning Division
Shareholder overview	Domestic and international fund managers, analysts, ESG-related professionals, and persons exercising voting rights.
No. of individual meetings （January 2023 through December 2023）	No. of individual meetings for Japanese and overseas institutional investors 177 meetings/263 companies. *Includes overseas IR interviews (North America, Europe, Asia)
Main dialogue topics	Period: Main topics discussed in individual meetings held from January 2023 to December 2023 (1) Overview and profitability of the forwarding business (2) M&A strategy (3) Earnings forecast (4) Status of business plan initiatives

Initiatives incorporating major matters of shareholder and investor feedback received through dialogues

We hold dialogues with investors in a variety of ways. The topics of interest in these dialogues range from an overview of financial results, business outlook, trends in the logistics market and business environment, management strategy, profit improvement, M&A strategy, and shareholder returns. We communicate the feedback received from these dialogues to the Board of Directors to reflect this information in management.
As an example of specific dialogue feedback incorporated in this manner, we added information as supplementary materials to our financial results briefing based on questions about business trends, particularly trends affecting our air and ocean freight forwarding businesses. We began disclosing Japan and Overseas Segment Air Export Freight Forwarding Business Gross Profit and Gross Profit Margin in our presentation materials for the second quarter of the fiscal year ended December 31, 2022 and Gross Profit per TEU for Japan/Overseas Segment Outbound Ocean Export Freight Forwarding in our presentation materials the first quarter for the fiscal year ended December 31, 2023. We believe these added disclosures provide a deeper understanding of our business.