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Purpose and Basic Policy of Disclosure

We always ensure that our disclosure activities will bring confidence from our shareholders, investors, customers and the community and allow us to maintain such confidence, and also, they contribute to appropriate valuation of our stock and appropriate pricing based on such valuation.
For the above objectives, we always commit to faithful responses in our IR activities. We also ensure as our basic policy that we disclose our policies and strategies, financial condition and other information in timely, precise and fair manners, and in easy-to-understand ways.

Disclosure Criteria

Our disclosures are in compliance with applicable laws and regulations, including the Financial Instruments and Exchange Act and “Regulations Pertaining to the Timely Disclosure of Corporate Information by Issuers of Listed Securities” (“Timely Disclosure Regulations”) prescribed by JASDAQ Securities Exchange, Inc. (“JASDAQ”). We also make it our policy that we actively disclose any information which is not governed by the Timely Disclosure Regulations, too, in fair manners so as to meet our investors’ needs.

How We Disclose Information

We disclose information which is governed by the Timely Disclosure Regulations in accordance with the Timely Disclosure Regulations via “TDnet”, a timely-disclosed information viewing service provided by JASDAQ, after giving pre-briefing about such information to JASDAQ. We also make press releases via “Kabuto Club”, the press club at Tokyo Stock Exchange.

Posting on Website

We are posting the information which we register on TDnet on this website, too, as soon as possible after the TDnet registration. Information that is not governed by the Timely Disclosure Regulations, too, is posted on this website, whenever we determine that such information will be helpful to our investors.

Future-looking Statement

Quarterly results disclosed by us and information posted on our website may contain current plans and projections, and future outlooks and strategies. Although we endeavour to provide such information containing future-looking statements as precisely as possible, any information other than past facts is disclosed based on our judgement that its statement is reasonable in light of the information currently available to us, and it may contain certain uncertainties and risks. Accordingly, results and other information actually disclosed may materially differ from those realized in the future, due to changes in economic climates, market condition, taxation and other systems or any similar external factors. You are also advised not to invest in full reliance upon such future-looking statements.

Silent Period

In order to prevent divulgement of our accounting results before their announcement as it would affect our stock prices, and as part of our efforts to ensure fair disclosure, too, we set three (3) “silent” weeks before announcement of our accounting results. During this silent period, we refrain from answering and commenting to any inquiries made about our accounting results, except only where substantial departure from past forecasts becomes anticipated during the silent period, in which case we will make announcement as appropriate in compliance with the Timely Disclosure Regulations.

Stock Price Information

A stock price should be determined only when the stock is traded on market. For this reason, we do not make any comments about prices, trading volumes, or any occurrences.

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We will provide information in timely, accurate, fair and comprehensible manners.

We intend to make disclosures to earn and maintain the trust of the stockholders, investors, customers and society. This kind of disclosure is conducted for an appropriate assessment of share prices and the appropriate stock price information.


Therefore, we intend to respond in honest and sincere manners for IR activities, and our basic approach is to provide the policy information, strategy and financial situation in a timely, appropriate, fair and comprehensible manners.(“Disclosure Policy”)