Disclosure Policy

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So as to secure the trust and understanding from shareholders and investors, the Company discloses corporate information in a timely, fair, appropriate and ongoing fashion in compliance with the following matters.

1. Standards for Information Disclosure

The Company discloses information based on related laws and regulations including the Financial Instruments and Exchange Act and the Rules on Timely Disclosure of Corporate Information by Issuers of Listed Securities (below, "Timely Disclosure Rules") prescribed by the Tokyo Stock Exchange. In addition, the Company proactively discloses information that does not fall under related laws and regulations and the Timely Disclosure Rules if that information is believed to be useful for a deeper understanding of the Company.

2. Information Disclosure Method

Information that falls under the Timely Disclosure Rules is disclosed through the Tokyo Stock Exchange's Timely Disclosure Network (TDnet) in accordance with those rules. After disclosure, identical information is promptly provided to media organizations and disclosed through our website. In addition, when disclosing information not falling under the Timely Disclosure Rules that is believed to be useful for a deeper understanding of the Company, the Company makes all efforts to present this information, by disclosing it on the Company's website, etc., in a way that is as fair and timely as possible.

3. Forward-looking Statements

Information disclosed by the Company can include forward-looking statements that are projections based on information at the time of announcement, and actual results can differ significantly depending on factors including changes in economic conditions.

4. Quiet Period

To prevent the leakage of financial results information and ensure fairness, the Company has established a period of two weeks before the financial results release date as a quiet period, during which time we refrain from responding to or making comments relating to questions concerning financial results. However, if it is expected that there will be a significant divergence from business forecasts during the quiet period, we will conduct disclosure based on the Timely Disclosure Rules.