Our company and its subsidiaries (hereafter referred to as the Group) will carry out prompt, accurate, and fair disclosure to our shareholders and investors. And by continuing to do so, we will enhance the transparency of our management and our credibility as a public institution in society. We have established the following disclosure policy to make this basic policy known both inside and outside of the company, and to ensure our disclosures are carried out in accordance with the appropriate standards, methods, and systems.

1. Information Disclosure Standards

The Company discloses information in accordance with the Companies Act, the Financial Instruments and Exchange Act, and other laws and regulations including the regulations on timely disclosure of corporate information stipulated in the "Securities Listing Regulations" of the Tokyo Stock Exchange (hereinafter referred to as the "Timely Disclosure Rules"). When information arises regarding decisions, occurrences, or financial results that have a significant impact on investment decisions, we will promptly disclose it in accordance with the Timely Disclosure Rules. We will also proactively disclose information that we deem important or useful to shareholders and investors in understanding the Company, even if the information does not fall under these rules.

2. Methods of Information Disclosure

Information that falls under the Timely Disclosure Rules will be registered and disclosed on the Timely Disclosure network (TDnet) provided by the Tokyo Stock Exchange, then promptly posted on our company website. Information that does not come under the Timely Disclosure Rules will also be disclosed widely through means such as posting it on our company website.

3. Preventing Insider Trading

We have established internal rules for appropriately managing important information and preventing insider trading. We also promote thorough dissemination and understanding of these rules among all Group officers and employees.

4. Handling Earnings Forecasts and Forward-looking Information

Earnings forecasts, strategies, policies, etc. disclosed by the Company that are not historical facts, are considered forward-looking statements. They are founded on plans, expectations, and judgments based on information available to us at the time and certain assumptions judged to be reasonable. Various risks and uncertainties may lead to actual results differing significantly from predictions.

5. Quiet Period

We institute a quiet period from the day after the end of each quarter until the day on which we announce financial results. This is to ensure fairness to shareholders and investors. During this period, we refrain from commenting or answering questions about financial results and earnings forecasts. However, we will disclose information as appropriate in accordance with Timely Disclosure Rules if there is a chance that our earnings forecast will deviate significantly during the quiet period.