Disclosure Policy

Disclosure Policy

In order to be able to provide accurate, timely and impartial information to our shareholders and potential investors, we seek to comply with the guidelines for timely disclosure set by the Tokyo Stock Exchange and to actively release important information to help investors better understand our Company.

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Information Disclosure Methods

After holding a press conference at the Tokyo Stock Exchange to explain information we are disclosing, we release that information via the TSE's "Timely Disclosure Information System" (TDnet). We also make every effort to publish this disclosure information on our Website as quickly as possible. Moreover, we maintain a similar policy of accurate and fair disclosure of information that is not considered necessary to disclose.

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Exceptions to Our Timely Disclosure Policy

We reserve the right not to disclose certain information in order to maintain client confidentiality and to preserve our competitive position.

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Regarding Our Future Projections

In addition to the earnings forecasts we submit to the Tokyo Stock Exchange for public disclosure, we may also provide on our Website various information pertaining to our future business development, which investors and shareholders may use as a basis for their own projections about our earnings. Such forward-looking information and estimates of future performance rest on certain assumptions, as well as on the most accurate information available at the time of release. However, despite our best efforts to ensure the accuracy of this information, it may change due to a variety of uncertainties and unforeseen risks, and our actual results may differ from our projections.

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Regarding Our "Quiet Period" Policy

In order to prevent leaks of sensitive earnings information and to ensure fairness in our disclosure, we maintain a "quiet period" extending from the first day after the end of our fiscal year to the actual release of our earnings announcement. During this period, we refrain from answering any questions relating to our earnings. However, if we discover a considerable difference between our actual earnings and our projections during this "quiet period," we will follow the steps noted above to disclose the correct information.

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