IR Policy

1. Key principle

Our IR activities are aimed to clearly disclose Management goal to shareholders and investors and to improve the shareholder value by reflecting public voice to its management. The President and top management will ensure to distribute strategies and business plans in accurate and proactive manner to investors and analysts in the global market.

2. Compliance with IR policy

This IR policy is complied with and penetrated in the entire group. All questions and requests from analysts and research institutes are taken care of by the IRmanager in charge.

3. Fairness and timeliness of information

The information will be publicly accessible on the website or other media timely in order not to be published for certain individual or organization.

4. Information Disclosure

1. We will disclose the information in compliance with timely disclosure regulations by Securities andExchange Law and Japan Securities Dealers Association. Even without such requirement of regulations we will actively and fairly provide the information which fulfills investors’ requests.
   
2. In one-on-one meetings with investors and analysts, the presentation material will be limited to publicly announced matters or well-known facts. No unreleased material facts will be mentioned or discussed.

5. Silent period

We applies silent period of IR activities. During those periods we do not have conversation with investors and analysts regarding business forecasts or results. However, should it in exceptional cases be considered to influence on future plans, correction or changes will be published. Silent period is 4 weeks before each quarter financial announcement.