Dialogue with Stakeholders

Fundamental Policy

The Company will strive to enhance trust by providing information to the capital markets in a timely, fair, and continuous manner while ensuring transparency and accountability in its disclosures, and to promote understanding of its efforts to increase corporate value and accurate assessment of the Company. Furthermore, through constructive dialogue between management and shareholders and investors, the Company will gain an appropriate understanding of how it is viewed and the state of the capital markets and provide that understanding and feedback to management and within the Company to lead to the improvement of management itself and further enhance corporate value.

In April 2024, we launched the New York Desk of IR/SR Department to strengthen dialogue with overseas shareholders and investors and disseminate information.

From management to the capital markets: Disclosure and dialogue. From the capital markets to management: Feedback. Aiming to be the most trusted by the capital markets.

Dialogue with Investors

Dialogue with Institutional Investors

We hold financial result conference calls, IR conferences, and theme-focused strategy conferences both in person and on the Web (via live streaming worldwide). In addition to these conferences, we hold dialogues with shareholders and investors in Japan and overseas through 1on1 and group meetings. For details of the events held in FY2025, please refer to our Investor Relations page.

Status of Dialogue between the Management and Shareholders and Investors (FY2025)

	Number of times performed	Total number of participating companies	Summary
Financial results conference calls	Twice	303 companies	Explanation of financial results by CEO, CFO, IR team and related departments (conference call)
IR conference	Twice	203 people	Explanation of management strategies, etc. by the CEO and each officer in charge (face-to-face and online).
Annual Investor Day	Twice	131 companies	IR conference for overseas institutional investors in New York, attended by CEO, CFO, Head of International Business, President of TMNF, and heads of European and American Group companies
Theme-focused conferences	Twice	181 companies	Presentation and dialogue by the new CEO (face-to-face) Explanation of the introduction of IFRS and ICS (conference call)
Domestic IR	-	391 companies	CEO, CFO, and the IR team conduct one-on-one and group meetings (face-to-face, conference call, and online)
Overseas IR	-	313 companies	CEO, CFO, Head of International Business, President of TMNF, and the IR team conduct one-on-one and group meetings (face-to-face and online)
Conferences hosted by securities companies	Eleven times	112 companies	CFO, Head of International Busines and the IR team conduct one-on-one and group meetings (face-to-face and online)

Dialogue with Individual Investors

Every year, we hold conferences for individual investors in which the Group CEO takes the stage. In FY2025, we held briefings in Tokyo and Aichi, with a total of 761 participants. Investors are satisfied with the Company’s easy-to-understand explanations that focus on the “Group’s Management Strategy” and “shareholder returns,” which are of great interest to individual investors. We will continue to engage in careful dialogue with our shareholders to expand our fan base and increase the number of individual shareholders and the percentage of shares held by individual shareholders.

Feedback

We are also making efforts to report the opinions obtained through dialogue with shareholders and investors widely to management and other members of the Company, and to reflect them in improvement of management. Many of our employees have no contact with the capital markets in their daily work, but through the IR/SR activity reporting sessions, they understand the voices of the capital markets, the evaluation of the Company, and the connection between their work and the capital markets. This has a positive impact on their own motivation and growth and, as a result, a virtuous circle of company growth is also created.

In FY 2025, we also conducted web-based Internal IR Sessions for six overseas Group companies, sharing the Group’s strategies and engaging in dialogue with more than 2,500 Group employees in Japan and overseas on a cumulative basis.

(Reference) Matters of Interest to Shareholders and Investors

We utilize the following and other issues of interest to shareholders and investors not only in IR strategies, such as financial results and management strategy explanatory materials, contents of integrated reports, and disclosure methods, but also in enhancing group strategies, such as formulation of KPI targets and discussions on capital policy.

Management in general	Balancing Earnings Growth and ROE Improvement How can you achieve both the earnings growth outlined in Aspiration 2035 (more than double FY2025 earnings) and an improvement in ROE (to over 17%, a level among the highest of global peers)? Can you deliver earnings growth while utilizing excess capital and improve ROE at the same time? Strategic Partnership with Berkshire Hathaway Group What are the specific initiatives and expected benefits of the three pillars of the Strategic Partnership? In particular, how will the Strategic Partnership expand your M&A options and create new growth opportunities?
Japan P&C	Growth Potential of the Japanese P&C Market and Competitive Advantage With Japan facing a declining birthrate, an aging population, and a shrinking population, how do you view the growth potential of the domestic insurance market? As industry consolidation changes the competitive landscape, how will you maintain and strengthen your competitive advantage? Direct Business Strategy As customer needs continue to diversify, how do you position the direct channel within your overall business strategy? What benefits do you expect from the rebranding of Tokio Marine Direct?
International	Sustainability of High Earnings Growth and Profitability As insurance markets in North America and Europe continue to soften, how will you sustain earnings growth and maintain high profitability? M&A Strategy How will you pursue future M&A opportunities by leveraging your strong capital position and Strategic Partnership with Berkshire Hathaway Group?

Awards Related to Disclosure

As a result of these efforts, we have received various awards.