Disclosure Policy

Communication with Shareholders and Investors

The director in charge of IR and the IR department communicate with shareholders and investors while paying close attention to the handling of material facts under insider trading regulations. We provide regular opportunities for dialogue between shareholders and the Representative Director, President & CEO, and provide opportunities for meetings between institutional investors and the Representative Director, President & CEO or the director in charge of IR periodically or as needed. Opinions received from shareholders and investors are compiled by the IR department and reported regularly to the management team, shared with related departments and the Change Group,

In addition to striving to disclose information in compliance with laws and regulations and the rules of the Tokyo Stock Exchange, we actively strive to disclose information that we judge to be effective in deepening the understanding of the Company.

Standards for Information Disclosure

In addition to striving to disclose information in compliance with laws and regulations and the rules of the Tokyo Stock Exchange, we actively strive to disclose information that we judge to be effective in deepening the understanding of the Company.

Methods of Information Disclosure

Information required to be disclosed by laws and regulations and the rules of the Tokyo Stock Exchange is posted on our website promptly after disclosure via "TDnet (Timely Disclosure network)." For other information, we strive for fair and broad disclosure through posting on our website and other appropriate methods.

Prevention of Insider Trading

We properly manage important information of the Change Group and have established internal regulations to prevent insider trading, promoting thorough awareness and understanding within the Company and each Change Group company.

Forward-Looking Statements

Future plans and forecasts disclosed by the Company are based on certain assumptions judged to be reasonable by the Company based on information available at that time. Actual results may fluctuate due to various risks and uncertain factors such as social and economic conditions.

Quiet Period

To prevent the leakage of financial results information and ensure fair and impartial information disclosure, we observe a "quiet period" from the day following the end of the fiscal period (quarterly period) until each financial results announcement date. During the quiet period, we cannot answer questions or comment on the financial results of the Company and each Change Group company. However, if facts that are required to be disclosed by laws and regulations and the rules of the Tokyo Stock Exchange are decided or occur during this quiet period, we will disclose this information in a timely and appropriate manner. Even during the quiet period, we will respond appropriately to the disclosure of information not related to financial results and to questions concerning information that has already been made public.

Development of Internal System

We have built and maintain a system to conduct appropriate information disclosure based on this Disclosure Policy. We are operating this Disclosure Policy appropriately by collecting and analyzing information in a timely and appropriate manner through close coordination with each Group company.