Disclosure Policy

1. Policy on IR activities
The Company aims for impartial, timely and appropriate disclosure of information to shareholders and investors. The Company will disclose accurate, impartial, and timely information in accordance with the disclosure system for company details, etc. set out in the Financial Instruments and Exchange Act, and Tokyo Stock Exchange’s “Rules on Timely Disclosure of Corporate Information by Issuers of Listed Securities” (hereinafter “Timely Disclosure Rules”). In addition to information corresponding to that set out in the Securities Listing Regulations, the Company actively discloses information that it considers important in the context of its business activities.

2. Method of information disclosure
Disclosure of information designated as being subject to timely disclosure in the Timely Disclosure Rules is published using TDnet (Timely Disclosure Network), which is a service provided by the Tokyo Stock Exchange. The Company considers its IR website to be an important source of information for shareholders and investors, and even in cases where the information in question is not subject to timely disclosure under the Timely Disclosure Rules, whenever possible the Company actively and impartially publishes information that it judges will be useful in aiding the understanding of shareholders and investors.

3. Quiet period
In order to prevent leaks of information related to financial results and to ensure fairness, the time from the closing of the quarterly or full-year period to the date of the announcement of results for the period is designated a “quiet period” by the Company. During this period, the Company refrains from comment or responding to questions related to financial results. That notwithstanding, in cases where it becomes apparent during a quiet period that significant changes in financial forecasts are likely, the Company will make an appropriate announcement in accordance with the Timely Disclosure Rules.

4. Forward-looking statements
The current plans, forecasts, strategies and other Company information on the IR website are predicated on certain assumptions about the future, which are based on the judgment of Company management after taking into account the information available at the time of preparation. Accordingly, readers should bear in mind that these forecasts incorporate risks and uncertainties and that actual results may differ from the current forecasts for a variety of reasons, including economic trends, drastic changes in foreign exchange rates and raw material prices, and abnormal weather conditions.