Basic IR policy

The basic policy underlying the Company’s IR activities is that it is the duty of a listed company to disclose corporate information appropriately and in a timely fashion to all of its stakeholders, including shareholders and investors. The Company is keenly aware that fulfilling this duty is a vital component of maintaining a healthy securities market, and considers it important to incorporate the perspective of shareholders and investors at all times, to enable the swift, accurate and fair disclosure of corporate information.

How information is disclosed

Items that are covered by timely disclosure rules are recorded by the Company on TDnet (the timely information communications system provided by Tokyo Stock Exchange, Inc.), with the same information being provided to news organizations via press releases. Information is also made available on the Company website as soon as possible after publication on TDnet has been confirmed. Moreover, in the spirit of the timely disclosure rules, the Company works for the swift, accurate and fair disclosure even of information that is not strictly covered by these regulations, and basically makes the information available on the Company website.

Material nonpublic information

nformation disclosed by the Company in printed documents, on its website, in interviews or meetings, or in response to telephone inquiries is limited to information already disclosed, facts in the public domain, or those that relate to the general business environment, etc. In accordance with the fair disclosure rule of the Financial Instruments and Exchange Act, the Company makes no comment whatsoever on nonpublic material facts as defined by insider trading regulation, or on information pertaining to the settlement of the accounts, defined as finalized financial information relating to either annual or quarterly settlements of the accounts that could have a material effect on the price of securities (hereinafter collectively referred to as “material information”).

Furthermore, when conveying nonpublic material information to those involved in trading for securities companies, etc., the spirit of the fair disclosure rule shall be observed, and the information shall be disclosed fairly.

Forward-looking statements

The information disclosed by the Company may include “forward-looking statements,” but due to changes in economic conditions and the market environment these may diverge significantly from the Company’s actual business details and performance. When considering the Company’s performance, competitiveness, corporate value and the like, we recommend that you avoid relying solely on such forward-looking statements.

IR self-restraint period (“quiet period”)

The Company implements an IR self-restraint period (“quiet period”) between the date of the settlement of the accounts for each quarter and the date on which results are announced. During this period, the directors and employees of the Company refrain from making comments on the business outlook, results or forecasts. However, in the event that, during the quiet period, it appears that results are likely to significantly diverge from earnings forecasts, this will be disclosed as appropriate in accordance with the timely disclosure rules.