The Company will strive to provide information in a timely fashion to shareholders and investors both at home and abroad, focusing on transparency and fairness. We will disclose information on TDnet in line with relevant laws and ordinances, including the Commercial Code and the Securities and Exchange Law, and the "regulations concerning timely disclosure of corporate information by issuers of listed securities" (hereinafter referred to as the "timely disclosure regulations"), established by the Tokyo Stock Exchange. The Company will put up the information made public on TDnet on its Web site as soon as possible after the information is released to the mass media. We will also correctly and swiftly disclose other corporate information, which is not subject to timely disclosure, taking into account the purpose of timely disclosure.

To prevent information on settlement of accounts from leaking and to ensure fairness, the Company deems a silent period to be from the day following the closing day to the announcement of the settlement of accounts. We will refrain from making any comments on the closing of accounts or answering any questions on this subject during the silent period. However, when the difference between the earnings projections that become clear during the silent period and the earnings projections already announced fall under the fluctuation range subject to timely disclosure, the Company will properly make an official announcement in accordance with the timely disclosure regulations.

During separate meetings with institutional investors, analysts and other bodies, the Company will refer only to limited information such as facts already disclosed, widely known facts and information about the general business environment. We will never support any comments on the Company, earnings projections, or other such information released by third parties.

When you search the information of the Company on our Web site, please refer to not only this disclosure policy but also to the cautionary statement that we have posted separately on this Web site.