Disclosure Policies

1. Information Disclosure Standards

With a view towards fair and impartial management, we will observe laws and regulations and respect social norms in our conducting conscientious corporate activities and we will disclose information to shareholders and investors in a timely and appropriate manner.
We will disclose information in compliance with the Financial Instruments and Exchange Act and other legislation following the Timely Disclosure Rules established by the Tokyo Stock Exchange (TSE).

2. Information Disclosure Methods

When timely disclosures are required as stipulated in the TSE's rules, we will publish information on the TSE's Timely Disclosure Network (TDnet) following an explanation to the TSE. We will promptly publish the information on our website as well.
We will also broadly disclose information useful to shareholders and investors on our website, even information whose disclosure is not required by the Timely Disclosure Rules.

3. Handling of Earnings Forecasts and Future Information

The financial forecasts, strategies, policies and targets that we disclose, excluding statements of past and present facts, are forward-looking statements based on judgments and assumptions derived from the information available at the time they are made. These statements may differ from actual results and other events due to various risks, changes in uncertain factors, economic circumstances and other factors.

4. Quiet period

We define the period from the day after the closing date of each quarter to the date of the announcement of the financial results for that quarter as a quiet period. This prevents the leak of financial information and ensures the fairness of information disclosure.
During quiet periods, we decline to answer questions or comment with regard to financial results. However, even during quiet periods, we will respond to questions and other statements regarding information that has already been published, information that is publicly known and information that is disclosed on TDnet during quiet periods.