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6. IR policy, enhancement of disclosure and insider information control
13. IR policy, enhancement of disclosure and insider information control
13.1 Basic policy for information disclosure
The Company strives to improve management transparency and trust in society by conducting fair, timely and appropriate information disclosure to shareholders, investors and other stakeholders. Moreover, it shall proactively listen to expectations, opinions and feedback from stakeholders and reflect them in its corporate activities as necessary.
13.2 Criteria for information disclosure
The Company shall implement information disclosure in accordance with the Companies Act, the Financial Instruments and Exchange Act, other relevant laws and regulations, as well as regulations on timely disclosure prescribed by the stock exchange on which its shares are listed. Other information not subject to relevant laws and regulations and other regulations on timely disclosure shall be positively disclosed if such information is deemed necessary for investment decisions of shareholders and investors.
13.3 Method of information disclosure
The Company shall disclose information mainly through the Electronic Disclosure for Investors’ Network (EDINET) provided by the Financial Services Agency for securities reports and other disclosure documents in accordance with the Financial Instruments and Exchange Act, Timely Disclosure network (TDnet) of Tokyo Stock Exchange or the Company’s webpages. Moreover, English versions of documents related to earnings results announcements and other material information for disclosure are also made available at the same time from the perspective of fair and timely information disclosure.
13.4 Promotion of IR activities
Led by the IR Department, the Company strives to enhance disclosure and to engage in direct dialogue with shareholders, domestic and foreign institutional investors, and analysts by holding financial results briefings, individual meetings, and facility tours.
These IR activities are being promoted in close collaboration with multiple related departments, including business divisions, administrative departments, and group companies. In addition, the CEO and Chief Officers participate in financial results briefings and individual meetings as necessary for a unified, group-wide approach to IR activities.
Feedback is provided to the Board of Directors as appropriate, including the outside officers, regarding the results of IR activities and major opinions of the capital market.
13.5 Prevention of insider trading
The Company has established Regulations on Internal Information Control and Prevention of Insider Trading and works to prevent insider trading and acts that are suspected of being insider trading or fraudulent information transmission and trade recommendations, by providing thorough internal training and appropriate control and management of insider information and trading in shares, etc.
13.6 Quiet period
The Company has established a “quiet period” which starts on the business day following the end of each quarter and ends on the day of announcement of quarterly earnings results for the purpose of preventing the leakage of earnings results information and ensuring compliance and fairness.
During this period, the Company refrains from answering questions regarding earnings results. However, if the Company recognizes the possibility that actual earnings results significantly deviate from its forecasts, it shall disclose such information appropriately in accordance with rules on timely disclosure.