Hibiki Path Advisors（”Hibiki”）made a presentation (link below) on March 2nd, to DAIICHI CUTTER KOGYO K.K.（”Daiichi cutter”） regarding corporate governance improvement, various IR strategies, and appropriate dividend level/policy.

CEO Takahashi fully acknowledged our view  particularly on 1)the lack of market recognition of its true corporate value, which has been derived from the company’s conservative earnings estimates and mid-term management plans, 2) the need for more appropriate financial measures.

Daiichi cutter also storngly agreed that in order to improve its recognition in the capital market and increase its corporate valuation, it is necessary not only to expand its business but also to conduct IR more proacitvely and strategically. 

Hibiki will continue to discuss with Daiichi cutter about future measures and report our engagement in our media. We are committed to working with them side-by-side in order to bring a spotlight to this humble but well-run company.

This document does not constitute an offer, recommendation or solicitation to buy or sell any security or enter into any other transaction. Hibiki does not purport to provide any investment, financial, legal or other expert advice or recommendation in this document.

BETTER GOVERNANCE AND DIVIDEND POLICY FOR VALUATION IMPROVEMENT
Investee Introduction (only in Japanese)：DAIICHI CUTTER KOGYO（1716）