１．Basic policy on disclosure

Our basic policy in IR (investor relations) is to provide our shareholders and investors with information on our management policies and information about our earnings and financing in a clear, fair, and accurate manner in order that you properly evaluate our company and make an investment decision. We will disclose appropriate and timely manner in accordance with the relevant laws and regulations of the Financial Instruments and Exchange Act and regulations for “Timely disclosure of company information of the issuer of the listed securities” (following timely disclosure rules) stipulated by the Tokyo Stock Exchange.
As for the important information that may be is not limited to information subject to the timely disclosure and legal disclosure, to affect investment decisions, to disclose promptly and fairly.

２．Methods of timely disclosure

Information that we disclose is based on the timely disclosure rules, we disclose it through Timely Disclosure network provided by the Tokyo Stock Exchange(below TDnet), and then press release promptly. The information that has been published in TDnet, will be posted on our website promptly. For information disclosure that does not depend on the timely disclosure rules, we’ll disclose through our website mainly.

３．Positioning of our website

Our website is posted on the Internet and is available to all persons who wish to access our information. In order to make fair information disclosures, information that is made publicly available is posted on our website as soon as possible thereafter, but posting of information may be delayed because of telecommunications or other problems, and therefore, our website is positioned solely as a secondary information source.

In addition, not all information disclosed by we are posted on our website. Information made available by other means may be modified to an easier to understand format for posting on our website. When accessing information on our website, please keep these points in mind.

４．The system for disclosure information

The IR activities of our Company, a President –director as a Chief Executive, Corporate Planning department plan its business, management, and promotion.
For timely disclosure, we gather the information collected from each department that are Corporate Planning Department, Finance & Accounting Department, Legal Department.
It is consulted with an information handling person in charge and a number of specialized department elected by an information handling person in charge.It is approved by the information handling person or board of directors, thereafter, a procedure of the information disclosure is taken promptly.
We will disclose the other information that we judges as important, in the same procedure as previously described.

■Figure of the internal management system for timely disclosure information

5．Silent period

We observe a silent period of three weeks prior to an earnings results announcement date to prevent divulging earnings information and to ensure equality. Please note that during this silent period, we cannot comment on or answer any inquiries about earnings results. If any event that arises during a silent period is subject to timely disclosure, however, we will promptly disclose the information as appropriate.

6. IR activities

In addition to the disclosure to the exchange, we try to keep a direct communication with shareholders and investors through a briefing session to hold appropriately and printed matter, the appropriate correspondence to a daily inquiry. At an ordinary general meeting of shareholders to be held in June every year, in addition to the reporting regard to the matters specified by law, we carefully the question-and-answer with the description of our medium -and- long term business strategy, then we attempt to be construction of shareholders and the relationship of mutual trust with us and the formation of mutual communication.
An evaluation and the demand that they gave to us, not only the management refers to it, but also we shares information widely in an office and makes use for the improvement of service and achievements.