Disclosure Policy

1. Basic Policy

Our policy is to disclose information swiftly and accurately to stakeholders including shareholders and investors via proactive public relations and IR activities based on transparency, fairness, and continuity.

The Company will disclose information fairly in compliance with the Fair Disclosure Rule prescribed by the Financial Instruments and Exchange Act.

2. Criteria for Disclosure

The Company will disclose information in compliance with laws and regulations including the Financial Instruments and Exchange Act and the Securities Listing Regulations prescribed by the Tokyo Stock Exchange (TSE) where the Company is listed. We will also proactively disclose other information considered to be useful for understanding the Company in a timely manner.

3. Methods of Disclosure

Certain information required under the Securities Listing Regulations, etc. will be disclosed via the Timely Disclosure Network (TDnet) of Tokyo Stock Exchange. After publicly announced via TDnet, such information will be released to the news media and disclosed on our website in a prompt manner. However, the timing of disclosing on the website may be delayed because of the system. Other information not subject to the laws and regulations including Securities Listing Regulations will also be disclosed appropriately, accurately, and fairly via the Company’s website, etc. in consideration of the purposes of timely disclosure.

4. Earnings Forecasts and Future Outlook

Except for those related to the facts in the past and present, the Company’s plan, future outlook, and strategies are our plan or forecasts based on the information available at the time of disclosure. Therefore, the actual results in the future may vary from those forecasts due to various risks, fluctuations in uncertain factors and changes in the economic climate.

5. Quiet Period

In order to prevent leakage of earnings information and ensure fairness, the Company has established a “Quiet Period” from the following day of the end of the accounting period (including quarterly period) through the release date. During this period, we do not answer to or make comments on inquiries related to the earnings results. In case there is a new possibility arises that the earnings forecasts may be changed significantly during the period, we will make an appropriate public announcement in accordance with the Securities Listing Regulations, etc. During the quiet period, we will respond to inquiries to the extent that such inquiries are related to the information already publicly announced.

6. Information Disclosure to Third Parties and Earnings Forecasts by Third Parties

At individual meetings with institutional investors and analysts, etc., the Company refers only to the facts that have already been disclosed, well-known facts or information on the general business environment, etc. In addition, we do not support any comments about the Company or earnings forecasts, etc. made by third parties.

7. Compliance with Disclosure Policy

From the perspective of the Corporate Social Responsibility (CSR), the Company ensures that all officers and employees comply with Disclosure Policy mentioned above.