At Cadira Capital Management, we ask our contacts to fill out a survey after each Investor Relations meeting.
The purpose of our survey is twofold. One is to understand the opinions of the companies and get input for our activities. The other is to compile the results on a quarterly basis and share them with the respondent companies so that they can use them as a reference for their IR activities.
Below, we share the contents of the e-mail sent to the companies in the hope that sharing this information will be useful for mutual understanding among capital market participants.
Survey Results
Q: Did this meeting address issues important to your company?
Yes: 100% (97% in the previous quarter)
No: 0% (0%)
Neutral: 0% (3%)
Q: Which of the following issues were important to your company at this meeting (multiple answers allowed)?
Management philosophy: 23% (21%)
Medium- to long-term policies: 82% (82%)
Financial information: 18% (13%)
Business details: 31% (47%)
Sustainability: 64% (63%)
Other: 15% (21%)
Q: Please select the person(s) who could be available for our next meeting (multiple choices allowed)
Top management: 36% (24%)
IR Director: 64% (63%)
External Directors: 10% (8%)
IR personnel: 95% (97%)
Sustainability officers: 49% (53%)
Business managers: 13% (13%)
Do you disclose the results of employee engagement?
(Last quarter's question was about biodiversity policy.) ）
Yes: 26%
No: 69%
Unknown: 5%
Additional comments from Cadira
Last quarter we asked if the company had a biodiversity policy and this quarter we asked if the company disclosed employee engagement.
We compared the responses we received from companies this time with data from a particular information provider and found that more than 40% of the responses differed. In other words, companies acknowledged that they disclose employee engagement results, but the vendor's data showed "No" or "N/A," or the companies answered "Yo" but the data showed "Yes.
Due to the lack of standardization in disclosure methods and timing discrepancies, it is often possible for information providers' data to differ from companies' perceptions. To build a better ecosystem, it is important for all parties to work together to disclose information in a way that is easy to understand, and for data providers to improve the accuracy of their information, not to mention the need for caution when using the data.
With less than half of companies disclosing information on employee engagement and the content not yet standardized, it is too early to use the data for "side-by-side" comparisons between companies, but we believe it is useful to look at a company's score over time.
In addition, to make better investment decisions, it is important to pay attention not only to the appearance of improvement or deterioration in numerical scores, but also to the background of the data and the company's response to it. Therefore, we hope that the disclosure of information will include interviews with employees and other information that will help us understand the actual situation on the front lines.
Learn More
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