Disclosure Policy

1. Basic Policy

We, Pigeon Group will comply with laws and regulations regarding the disclosure of corporate information, including the Financial Instruments and Exchange Act, Companies Act, and rules on timely disclosure defined by the Tokyo Stock Exchange ("TSE"), and will disclose the relevant information promptly and actively to provide shareholders, investors, and all other stakeholders with timely, accurate, and fair information to help them to understand our group activities. Additionally, the division manager of the business strategy division will be in charge of disclosing timely disclosure information, and its division will promote constructive dialogue and to incorporate market opinions and valuations in feedback to the management of the Pigeon Group.

2. Information Disclosure

Information subject to laws and regulations of timely disclosure will be made through TDnet, a timely disclosure system provided by the TSE after prior confirmation. Information disclosed on TDnet will also be disclosed promptly via our corporate website. We will also disclose other useful information not required by the rules accurately, fairly, and appropriately, taking into consideration the purpose of timely disclosure.
In addition to disclosure on TDnet and our corporate website, we will disclose information to various media, hold press conferences and/or meetings as needed.
Also, we will disclose information related to financial results via TDnet, including financial statements, and hold financial results briefings (including live streaming and teleconferences), provide supplementary materials, presentation materials, and minutes on our website, and hold individual meetings with shareholders and investors to explain financial results in detail.
We will actively prepare and publish English versions of the Integrated Report and various disclosure materials to promote smooth communication with stakeholders in Japan and overseas.

3. Quiet Period

We do not respond to inquiries regarding specific information due to competitive advantages or confidentiality agreements.
We observe a quiet period to ensure fairness in the disclosure of financial results. The quiet period is from the day after the closing date until the date on which earnings are announced each quarter. During the quiet period, we do not comment on or respond to inquiries regarding financial results-related information.

4. Forward-looking Statements

In addition to earnings forecasts disclosed via the TSE, we may provide current plans and forecasts in our documents and corporate website so that shareholders and investors can make their forecasts of the Pigeon Group's performance. In all cases, statements other than historical facts are forward-looking statements made based on certain assumptions and expectations at the time of the announcement. These forward-looking statements involve risks, uncertainties, and other factors that may cause actual results and achievements to differ from those anticipated in these statements. Please refrain from making investment decisions based entirely on the information we provide, and you are requested to make investment decisions based on your judgment.

5. Disclosure on Our Corporate Website

We provide a variety of information through our corporate website in order to deepen understanding of the Company among shareholders and investors. Information we disclosed in a timely manner will be also posted on our website as soon as possible. However, our website does not cover all of the information we disclosed including some of the information of timely disclosure. Also, posting information on our corporate website could be delayed due to technical difficulties in information and communication technologies, etc.
When using our corporate website, please be sure to fully understand these factors and also refer to the disclaimer (Disclaimer on Forward-Looking Statements) on the website.

6. Internal Information Management (Prevention of Insider Trading)

We established regulations for the prevention of insider trading, and operating rules regarding the disclosure of material facts and management standards and methods for insider information. We are also making our best efforts to ensure appropriate management of insider information by making these rules spread to all directors and employees.

7. Others

Pigeon will make constant efforts to act as a member of the securities market in terms of disclosure and set the standards for other listed corporations.