Disclosure Policy

The proper disclosure of information about business operations and management is essential for the growth of shareholder value. Furthermore, disclosure activities result in feedback from the market concerning the performance of the SAN HOLDINGS Group. This feedback is a vital source of information for maintaining and improving the soundness of the group’s management. Based on this stance, SAN HOLDINGS has established the following basic policy and is taking actions aimed at further improving disclosure activities.

1. Disclosure of important information

To provide shareholders, investors and others with important information in a proper and timely manner, SAN HOLDINGS discloses important information in compliance with the Financial Instruments and Exchange Act and other applicable laws and regulations, the timely disclosure rules of financial instrument exchanges, and other rules and guidelines.

2. Voluntary disclosure of information

SAN HOLDINGS discloses other information in addition to important information for the purpose of enabling shareholders, investors and others to accurately understand and assess the operations of the SAN HOLDINGS Group. SAN HOLDINGS is dedicated to further improving the voluntary disclosure of information about management policies, business strategies and other subjects. Information is disclosed with emphasis on continuity and consistency as well as on providing information in a format that is easy to understand from the standpoint of people who use this information.

3. Disclosure methods

SAN HOLDINGS uses its website and other channels in order to disclose information with speed and fairness.

4. Internal disclosure framework

SAN HOLDINGS has an internal framework for ensuring the proper disclosure of information stated above and is continuously working on improving this framework.