Japanese

Disclosure Policy

Disclosure Policy

1. Disclosure standards

The Company is committed to providing information to shareholders and other Investors in a timely, comprehensible and fair and improving the quality of information. To this end, we shall disclose information in accordance with the Securities Exchange Law and "Regulations Governing the Timely Disclosure of Corporate Information by the Issuer of Listed Securities" (hereinafter referred to as the "Timely Disclosure Rules") enacted by the Tokyo Stock Exchange. In addition, we shall proactively disclose other information such as the outcome of business performance, the composition of finances and company strategies in order to assist people to better understand the Company.

2. Methods of disclosure

Each decision and occurrence of an event to be disclosed under the Rules shall be publicized though the "Timely Information Disclosure System (TDnet)", announced to the media (Press Release) and uploaded on our website in order to ensure appropriate timing and fairness.

3. Future prospects

The Company sometime provides forward-looking statements such as "earnings forecasts". However, as actual earnings depend on variations in the business environment, such as the economic climate and market conditions, such forward-looking statements may not be assured. For this reason, in the event that investment in the Company is being considered, please be advised not to rely solely on such statements.

4. Silent period

In order to prevent information leaks of accounts settlement and ensure fairness, the Company shall impose a silent period estimated at about three (3) weeks prior its announcement of accounts settlement. During this period, the Company shall not respond to questions or make comments regarding the accounts settlement. Provided, however, that if projections differ significantly during the silent period, the Company shall make an announcement in accordance with the Timely Disclosure Rules.

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