IR Policy

1. Disclosure of Corporate Information

We strive to communicate corporate information to general investors, including shareholders, as well as to institutional investors and analysts, in a prompt, fair, accurate and easy-to-understand manner. We do not disclose specific information to only a limited number of specific parties.

The information we communicate is as follows.

• Financial results information (quarterly, half-year and full-year results)
• Other matters subject to timely disclosure

In accordance with the Financial Instruments and Exchange Act and the rules on timely disclosure established by the Tokyo Stock Exchange, Inc. and others, we also post such information on our website as appropriate.

2. Earnings Forecasts and Forward-Looking Statements

We endeavor to serve your convenience by providing detailed disclosure of our results on a quarterly basis.

Earnings forecasts and other forward-looking statements that we announce are forecasts as of the time of announcement and their content is not guaranteed. Furthermore, we do not endorse any forecast of our results made by any third party.

3. Disclosure of Information in Meetings with Securities Analysts and Institutional Investors

Information presented in meetings we hold with securities analysts and institutional investors (individual meetings and small meetings) is limited to facts already made public through earnings announcements and other means, widely known facts, or general business conditions and the like. We make no reference whatsoever to undisclosed “material facts” or similar information.

4. Disclosure Methods

Disclosures required under laws such as the Companies Act and the Financial Instruments and Exchange Act are conducted appropriately in the manner prescribed by law. Disclosures that fall under the timely disclosure rules are, in accordance with those rules, registered with the Timely Disclosure Network (TDnet) provided by the Tokyo Stock Exchange, Inc. after prior explanation to the Exchange, and the same information is promptly provided to the press. With respect to the provision on our website of information disclosed via TDnet, in light of the Financial Instruments and Exchange Act and the timely disclosure rules, after announcing the facts to the press and confirming their posting on the “Timely Disclosure Information Viewing Service” on the Exchange's website, we promptly post the relevant information. Depending on preparations such as PDF files, the posting of such information on our website may be delayed. For information that does not fall under the timely disclosure rules, we intend to communicate such information to shareholders and investors accurately and fairly by appropriate methods, in light of the Financial Instruments and Exchange Act and other applicable laws.

5. Internal Implementation of the IR Policy

We will disseminate and thoroughly implement this IR Policy throughout the company from time to time. All inquiries from securities analysts and institutional investors are handled by our IR department. This is intended to protect the company and its employees from every kind of legal liability, including under the Financial Instruments and Exchange Act.

6. IR Quiet Period

We have established an “IR quiet period,” which runs from the day following the closing date of each quarter until the date of the earnings announcement. During that period, our officers and employees refrain from commenting on business outlook, results or forecasts, and do not hold or participate in individual meetings, analyst briefings (large and small meetings), seminars, conference calls or the like.