DyDo Group Holdings

Masataka Inoue
Independent Outside Director

The Board discussed the mid-term business plan from a medium- to long-term perspective in fiscal 2018, the year the plan was formulated. However, I believe that the time allocated to discussion from that point of view in fiscal 2019 was insufficient. In particular, the plan for the Domestic Beverage Business, which is the company’s core business, is not simply an issue for the operating companies, but is an important initiative for the group. I think more discussion should take place at the level of the holding company’s Board of Directors. Further, time for discussion by the Board alone is limited. As such, I have asked for opportunities, even non-public ones, to be created for further discussion.

The materials we receive in advance are clear and the explanations are detailed. However, I hope to see deeper discussion concerning the strategic significance of measures, the end state they are meant to bring about, and the KPI milestones toward that end state. For example, a medium-term goal of “establish our overwhelming superiority over other companies” was established for the Domestic Beverage Business. However, it will be essential to discuss what such a position would look like and where to set the bar for achieving it. Only then will it be possible to translate the goal into a concrete plan and a roadmap.

Time allocated to discuss overall management strategy and important investment proposals is currently increasing. However, I hope to see those whose role it is to safeguard shareholder interests seek higher investment return targets, bolster standards for withdrawing from investments to avoid losses, and be tenacious in pursuit of their objectives.