1.Disclosure policy.

We aim to conduct fair, timely and appropriate disclosure to shareholders and investors. We will disclose information accurate, fair and timely according to such laws and regulations as Company content disclosure system by the Financial Instruments and Exchange Law or by the Timely Disclosure Rules of the Tokyo Stock Exchange (the Timely Disclosure Rules).

And we disclose aggressively information relating to our business which we judge as important other than the information required by Security listing regulations.

2. Disclosure Methods

Information required by the Timely Disclosure Rules of the Tokyo Stock Exchange is disclosed via the TSE’s Timely Disclosure Network (TDnet).

We think IR website is one of the important information submission methods, and aggressively and fairly disclose the information which are not required by the Timely Disclosure Rules of the Tokyo Stock Exchange, but we judge it is of use in shareholders’ and investors’ understanding.

3. Silent period

To prevent leaks of financial results information and maintain the fairness of disclosure, we designate a silent period from the 2 weeks before the closing of accounts until announcement. We refrain from answering or making comments to inquiries on matters related to financial results. However, this does not apply to the occasion that previously announced forecasts may differ tremendously and we disclose properly according to the Timely Disclosure Rules.

4. Forecasts and forward-looking

Present management plan, forecast and strategies stated on the IR website are forward-looking forecast made based on some fixed assumptions and the understanding by managements using the information currently available to us. Therefore, these forward-looking has various uncertainty and risk factors and you may understand that actual results may different from the present forward-looking due to economic condition, sudden movement of foreign exchange and material price, and unusual weather.