Disclosure Policy

Policies for Website Announcement
This section is an explanatory section in order to assist the viewers of this website to fully comprehend our disclosure policies.

1. Disclosure Standards

Our disclosure is made in accordance with applicable laws and regulations such as Japan's Company Law and the Financial Instruments and Exchange Law, as well as the Timely Disclosure Regulations (the "Regulations") enacted by the Tokyo Stock Exchange ("TSE").
The Regulations require timely disclosure when a decision, event or information regarding accounts settlement that affects investment judgments occurs, or when an inquiry is made by the TSE, or when a material change, suspension or discontinuation occurs on the contents of material corporate information which has already been disclosed.
It is also our policy to disclose, as much proactively and fairly as possible, information that does not fall under the Regulations, such as the contents of announcements made at a [meeting with institutional investors], in order to better meet investors' needs.

2. Information Disclosure Method

Disclosure of information falling under the Regulations is publicized through the Timely Information Disclosure System (TDnet) offered by the TSE in accordance with the Regulations. We post each piece of information publicized on TDnet on our website promptly. A substantial delay in such posting on our website may occur due to the particular circumstances of preparation of tools and systems.
In disclosing information beyond that required to be released under applicable laws and regulations such as the Company Law and the Financial Instruments and Exchange Law, as well as the Regulations, we are endeavoring to ensure that such information is provided as much precisely and fairly as possible to general investors in an appropriate manner in light of the purpose of timely disclosure.

The regulatory disclosure to prevent insider stock trading required by Article 30 of the Enforcement Order for the current Financial Instruments and Exchange Law, revised in February 2004, is completed when information is published on TDnet. But when an information un-publishable situation caused by a system failure occurs in TDnet after registration of information at TDnet, the so-called 12-hour rule applies. In such a case, if you trade our shares, etc. based on information from this website-within 12 hours after the disclosure of such information on the website, you might violate the regulations for insider stock trading. Accordingly, when confirming any aspect of our disclosed information, it is recommended that you refer to both this website and other information sources such as TDnet.

3. Future Prospects

We sometimes provide guidance concerning our future prospects in addition to profit estimates to be submitted to the TSE, in order that we may assist investors and securities analysts to make their own estimates about our performance.
Any greeting message, speech, questions and answers, or other letter or document from time to time issued by us, or the contents of our website may contain information relating to our current plan, future projections, strategy and so forth. In any case, all statements which are not an historical fact are future projections made based on certain assumptions and our management's judgment drawn from currently available information.
Accordingly, when evaluating our performance or value as a going concern, you are requested not to rely on these projections entirely. Please note that actual performance may vary significantly from any particular projection, due to various factors.
Factors affecting our actual performance include: (1).Market Risk; (2).Foreign Exchange Risk; (3).R&D Risk; (4).Legal Risk; (5).Risk related to Price Negotiations; (6).Risk related to Raw Materials and Logistics Costs; (7).Latent Risk related to Operations Overseas; (8).Risk related to Natural and Other Disasters; (9).Risk related to Compliance and Internal Controls; (10).Risk related to accrued Post-Retirement Benefit and Pension Costs; (11).Environmental Risk; (12).Risk related to M&As and Alliances; (13).Quality Risk; (14).Information Management Risk. However, this is not a complete list of the factors affecting actual performance. For business risks, please refer to business risks.

4. Characterization of This Website

This website is open to, and for the convenience of, all those who wish to search for information regarding us on the Internet. We post the information on our website promptly after publication according to our policy to disclose information as fairly as possible. However, given possible delay in such posting due to internet technological failure and the like, we must characterize the disclosure of information using this and similar technology as a complimentary to traditional information disclosure.
In addition, this website does not always contain all of the information disclosed by us. Furthermore, the manner of expression used for particular information may be different from that disclosed by another method.
You are requested to be fully aware of these qualifications when using this website.

5. Silence Period

To prevent any information affecting the stock price from being divulged during the preparation period of the data for the announcement of the accounts, we fix three or four weeks "silence period" prior to the announcement of the accounts. During this period, we refrain from making comments on the accounts or responding to related questions. If it becomes likely that the results will substantially vary from the previously released projection, however, we will disclose information by way of press release.

6. Terms and Conditions

When using this website for information on the Company, please read carefully not only this disclosure policy, but also the Terms and Conditions or other notices.

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