IR Policy

Information disclosure standards

We disclose information based on an accuracy, fairness and transparency in accordance with applicable laws and regulations, including the Financial Instruments and Exchange Act, and the Timely Disclosure Rules of the Tokyo Stock Exchange, and other rules. We will disclose to the best extent possible information that is considered useful for shareholders and investors in making investment decisions, including information that is not prescribed in the Timely Disclosure Rules and other rules, in a proactive and fair manner.

Definition of information disclosure

Information disclosure method

Disclosures of information subject to the Timely Disclosure Rules are registered and provided through the Tokyo Stock Exchange's Timely Disclosure network (TDnet) and we quickly provide the same information on our HP after making the disclosure through TDnet. Also, other information that is not subject to the Timely Disclosure Rules, we actively disclose timely on our HP and so on, that information that we judge would be effective and useful.

Prevention of insider trading

Regarding prevention of insider trading, etc,, we have established information management rules and relevant internal rules, strive to ensure full dissemination. In addition, we hold a study session on insider trading regulations every year for officers and employees, and we distribute explanations of insider trading and strive to make them fully aware of its purpose and to get their attention of insider trading.

Quiet Period

We observe a quiet period of around 45 days prior to an earnings results announcement date to prevent divulging earnings information and to ensure disclosure. During this quiet period, we cannot comment on or answer any inquiries about earnings results and forecast. If consolidated financial results forecast is expected to change significantly, however, we promptly disclose the information as appropriate in accordance with Disclosure Rules and other rules.

Information disclosure system

We consider that the timely disclosure to investors and other stakeholders is one of our most important management priorities, and proactively and swiftly disclose information. Our chief responsible for information disclosure and handling is manager of the Corporate Planning Department. Information disclosure is performed by the Corporate Planning Department as the department in charge of information disclosure under the direction of the person responsible for information disclosure and handling. The department in charge of information disclosure promptly disclose the determined facts and financial results (including quarterly disclosure) after decisions are made by the Board of Directors, or after approval, under the direction of the person in charge of information handling. Material facts and other company information are gathered from related divisions and group companies to the manager responsible for information disclosure and handling.

The manager responsible for information disclosure and handling reports important information to the President after examining the importance of information. If it is determined that the information is a disclosure matter, the manager responsible for information disclosure and handling gives instructions to the department in charge of information disclosure. The above flow of timely disclosure is illustrated in the reference material "Timely Disclosure System (diagram)".

"Timely Disclosure System (diagram)"

Spokesperson for IR activities

In order to ensure the accuracy of information and the fairness of disclosures, the president, general manager of Corporate Administration, the manager of Corporate planning department, and Staff of Corporate planning section act as spokespersons in the IR activities. In principle, only spokespersons will provide company information to investors to ensure consistency of disclosure and avoid selective disclosure of information.

IR activities

We hold an investor briefing for analyst to explain financial results directly. In addition, we effort to create opportunity of being interested in our company and to enhance communication between investors and our company, regularly hold an investor briefing for individual investor to explain our business and financial results.