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Performance Reporting

Relationship with Shareholders and Investors

We consider that our mission is to maintain sustainable growth to increase corporate value and contribute to society. Moreover, it is essential to gain the understanding of our shareholders and develop mutual trust.
We are endeavoring to make active communications by disclosing information in a timely and appropriate manner.

Timely and Appropriate Disclosure of Business and Financial Information

 Yamada Denki has disclosed IR information, such as earnings data and press releases, as well as information on the development of new products or the commencement of new initiatives, on our website to shareholders and investors, thereby endeavoring to deepen their understanding of Yamada Denki.
 As the foreign ownership has been rather high, we have a number of opportunities to explain our business performance and management policy from the global perspective. We explain our business strategies and CSR activities at meetings with investors and analysts held around 200 times annually in Japan and overseas.
 We specifically hold an annual briefing session for investors. The session has been held for 15 consecutive years in a different major city of Japan. To deepen investors' understanding, our top management officer explains our management philosophy and management policy, as well as the current status of business performance and future business plans.

▶Shareholding Ratio (as of March 2018)

Basic Policy for Distribution of Profits

 Regarding the appropriation of profi ts, our primary policy is to pay dividends to shareholders in a stable and consistent manner.
 We consider it essential to build up internal reserves in order to achieve stable growth through enhancing future corporate value and strengthening the management base and also to increase and maintain market share in the industry, while improving the efficiency of capital with the aim of achieving sustainable growth into the future. We set the goal of a consolidated payout ratio of at least 30% and decide the amount of dividends in consideration of financial conditions and business performance of the relevant term.
  We will utilize the internal reserves in an effective manner for its sustainable growth, for strengthening various solution businesses to broaden and deepen its business range, with the aim of responding to the rapidly changing environment of the distribution market, including the declining birthrate and the aging of society, population decrease, and development of the internet society, and for improving the efficiency of existing stores and their network, enhancing and maintaining competitiveness, securing working staff, and strengthening financial structure, as well as for distributing profits to various stakeholders.
 We will endeavor to secure dividends continuously based on stable growth in profits.

▶Yamada Denki Group's IoT

Economic Relationships with Major Stakeholders

 The value of economic relationships with major stakeholders was calculated as described below. For details, please refer to earnings reports and financial statements.

▶Economic Relationships with Major Stakeholders

The Shareholder Special Benefit Plan

 We have established a shareholder special benefit plan in appreciation for the support of existing shareholders and with the aim of enhancing the advantage of investing in our shares and increasing long-term shareholders. The plan offers benefits in two ways, i.e., depending on the number of shares held and on the length of period of holding shares. Complimentary tickets are provided twice a year to shareholders as of the end of March and the end of September.

Prospects

Japanese Economy

 The future course of the global economy remains unpredictable in fiscal 2018, due to concerns over an upward trend in long-term interests in the US and escalating trade conflicts with other countries, as well as over economic trends in China and emerging countries, although geopolitical risks originating in North Korea seem to be somewhat easing.
 However, in Japan, it is expected that corporate earnings and the economy as a whole will improve continuously backed by steady demand.

Home Appliance Distribution Market

 The home appliance distribution market, to which the Yamada Denki Group belongs, is expected to maintain the sales level or achieve a slight sales increase from the previous year thanks to steady replacement purchases.

Yamada Denki's Efforts

 Under such market environment, the Yamada Denki Group set up the management slogan, "Challenge towards a New Stage," and will continue positive efforts for the nine segmented businesses, namely, housing equipment business, financial services business, support services business, environmental business, online sales & shopping mall business, mobile business, home appliance sales business, home appliance business by affiliates and subsidiaries and corporate sales business. Furthermore, we will continuously lay weight on the total housing services centered on home appliances and will develop and expand "Kaden Sumairu Kan", a new type of stores with a cafeteria and financial and real estate service counters, in which staff members offer comprehensive proposals on houses, home renovation, housing equipment, interior goods and furniture, etc., which are closely connected with home appliances. We plan to renovate 100 existing stores into this new type of stores in a year.