Policy on IR activities

The Company's IR activities are for the purpose of receiving appropriate evaluations by stakeholders. The Company therefore works to provide fair, accurate and timely financial and non-financial information to stakeholders and to communicate proactively with them.

Basic stance on disclosure

The Company complies with the Timely Disclosure Rules established by the Tokyo Stock Exchange and statutory disclosure regulations (including the Financial Instruments and Exchange Act, Companies Act, and related laws) and actively discloses information thought to help stakeholders gain a better understanding of the Company.

Disclosure method

Disclosure of information subject to the Timely Disclosure Rules is published on the Timely Disclosure Network (TDnet) provided by the Tokyo Stock Exchange. Securities reports and related information are published on the Electronic Disclosure for Investors' NETwork (EDINET) provided by the Financial Services Agency. Other important information is appropriately disclosed using TDnet. Information in all cases is also promptly posted on the Company's website.

Earnings forecasts and other future projections

Earnings forecasts and other future projections released by the Company are estimates as of the time of their release and are subject to change without prior notice due to changes in their assumptions or in the business environment; the Company does not guarantee their content. Earnings forecasts from analyst reports, news publications or other third parties are based on the analysis of the parties who made them and so are not the concern of the Company.

Quiet period

The Company enforces a quiet period of two weeks prior to earnings announcements in order to maintain impartiality and prevent earnings data from being leaked. During this period, the Company does not respond to questions or comment on earnings or forecasts. However, if important facts arise during the quiet period, the information is appropriately disclosed.