The Company’s core value for all employees to be observed consists of five “trust and sympathy”, one of which includes “trust and sympathy with shareholders.”

We aim to establish trust relationships through dialogue with shareholders or investors and incorporate their feedback into our management in order to further enhance corporate value.

Moreover, we strive to fulfill our accountability to shareholders or investors by information disclosure in a fair, timely and appropriate manner and obtain proper corporate valuations in the market by increasing public understanding of our management and business activities.

The Company responds positively to dialogue (or interview) requests from shareholders, as well as engage in dialogue with shareholders or investors for the target market, which is specifically done by the Corporate Communications Department / the Corporate Planning Department. Furthermore, the representative director, a person responsible for information disclosure and outside directors respond as often as possible to some demands from shareholders or investors in the form of interview.

The Company has adopted the following policies in order to enhance constructive dialogues with shareholders:

1. Appoints a corporate officer as a person responsible for information disclosure and establishes the Corporate Communications Department / the Corporate Planning Department under the direction of the person as the department in charge of investor relations.

2. Makes efforts to enhance organic coordination under the direction of the person responsible for information disclosure by sharing information more effectively between the Corporate Communications Department / the Corporate Planning Department and other related departments.

3. Holds biannual financial results briefings for investors and analysts to offer direct explanations from top management. Furthermore, the Company holds tours of facilities to offer a deeper understanding of the Company’s management strategy. In addition, based on the Company’s shareholder composition and capital policy, the Company arranges visits for foreign investors mainly by using the opportunity to attend the conference sessions held by securities companies in North America, Europe, and Asian regions.

4. Properly feeds investor relations activities and opinions from investors back to the senior management and the Board of Directors.

5. Stringently manages information in accordance with internal regulations concerning those involved in handling insider information in order to prevent selective disclosure of insider information only to some market participants, and in dialogue with investors, tries hard to make into dialogue topics the Company’s sustainable growth and the matters contributing to corporate value enhancement over the medium to long term.

The Company observes a period of silence from the day after the closing date of each quarter until the announcement of the financial statement of the accounting period. During this period, the Company will refrain from responding to interviews or replying to questions on earnings projections. However, in the event that results are expected to significantly deviate from the projections during the quiet period, the Company will release the appropriate information.

The Company releases corporate information required under the Timely Disclosure Rules via TD-NET, operated by the Tokyo Stock Exchange. At the same time, the Company posts the information on its website. The Company also provides corporate information not subject to the Timely Disclosure Rules on its website.