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Disclosure Policy

1. Disclosure Policy

We seek to maintain the highest ethical standards and regulatory compliance in all our business activities. To ensure management transparency, we comply with all applicable laws and regulations, including the Securities and Exchange Act and the Timely Disclosure Rules for Issuers of Listed Negotiable Securities or Valuable Instruments (hereinafter the "Timely Disclosure Rules") enacted by the Tokyo Stock Exchange. We also disclose all other information considered appropriate or helpful in understanding company operations in an accurate, fair, and timely manner.

2. Disclosure Methods

Information to be disclosed is first submitted to the Tokyo Stock Exchange, after which it is registered in the "TDnet" (Timely Disclosure Network) provided by the Exchange and announced to the mass media through the "Kabuto Club" (press club) within the Exchange, in compliance with the Timely Disclosure Rules.

We submit reports promptly to the appropriate finance bureau and to the Tokyo Stock Exchange, including financial statements and internal control reports, in compliance with the Securities and Exchange Act. Reports such as financial statements and internal control reports are also made available for public inspection.

We regard this website as an important way to provide stockholders and investors with information. If deemed necessary and helpful for stockholders and investors, we also release information to which the Timely Disclosure Rules do not directly apply. Note that the website may describe some information in a manner that differs from other sources.

3. Preventing Insider Trading

We register company information based on the Timely Disclosure Rules and important company information considered significant for investment decisions on TDnet as required by insider trading regulations. We post this information on this website simultaneously or soon after.

4. Quiet Period

In order to prevent information leaks affecting stock price and to ensure fairness of information disclosure, we set up a quiet period from the day following the closing date until the date on which financial statements are announced. During this period, please note that we will refrain from answering questions or commenting on the accounts settlement.

However, where it comes to light that results identified during the quiet period deviate significantly from previously announced earnings forecasts, and the deviance falls within the range of fluctuations specified in the Timely Disclosure Rules, we will disclose new information in the form of a revised earnings forecast in compliance with the Timely Disclosure Rules.

5. Information Disclosure to Third Parties and Third-Party Earnings Forecasts

Although we hold individual meetings and hearings (interviews) with corporate investors, analysts, media reporters covering investment issues, and so forth, we will only disclose facts that have already been disclosed or information on general market trends at these events.

We take no responsibility for comments, earnings forecasts, or other information released by third parties.

6. Forward-looking Statements

In addition to earnings forecasts reported to the Tokyo Stock Exchange, we may disclose current forward-looking statements, plans, strategies, and other information via papers we issue or on this website. In all cases, statements other than historical facts are forecasts of future corporate activities based on certain assumptions and on information available at the time of disclosure.

Such forward-looking statements involve various elements of risks and uncertainty, and actual results may differ. Please refrain from making investment decisions based solely on these forward-looking statements.

7. Other

To search for information on our group on this website, please refer to the "Terms of Use" posted separately, as well as this disclosure policy.