The basic idea and the policy of the corporate governance of the Group is as follows.
The Kurita Group discloses information in accordance with the laws related to information disclosure, such as the Companies Act and the Financial Instruments and Exchange Act, and regulations for the timely disclosure of corporate information established by the Tokyo Stock Exchange. The Kurita Group will actively and fairly disclose financial information, including information about financial conditions and the results of operations, management strategies, policies for capital efficiency, etc. This information is deemed to be effective for facilitating the shareholders and investors’ understanding of the Kurita Group.
Method of Information Disclosure
The Company discloses information prescribed in the Timely Disclosure Rules of the Tokyo Stock Exchange through the TDnet (Timely Disclosure Network) provided by the Tokyo Stock Exchange in compliance with said rules. The disclosed information will promptly be posted on the Company’s website. In disclosing other information not required by the Timely Disclosure Rules, the Company makes careful arrangements to ensure that such information is provided precisely and fairly to shareholders, investors and other stakeholders in an appropriate manner in light of the purpose of timely disclosure.
In addition to earnings forecasts submitted to the Tokyo Stock Exchange, the Company may provide information concerning earnings forecasts by other method.
Such information is based on information available at the time of preparation and specific assumptions judged to be reasonable. Accordingly, actual performance may differ from the forecasts due to various risks and uncertainties.
Information Disclosure System
- (1)Collection and management of information
The General Manager of the Corporate Planning Division manages the corporate information of the Group (decisions made by the Company, financial information and occurrence of material facts) as the person responsible.
Important corporate information is centrally managed by the General Manager of the Corporate Planning Division. Furthermore, there is a system that enables speedy transfer of information about matters of urgency and other risk information to the President of the Company.
- (2)Judgment of timely information disclosure
The General Manager of the Corporate Planning Division makes decisions on whether or not corporate information collected is subject to timely disclosure.
- (3)Timely disclosure of information
Information subject to timely disclosure is disclosed by the General Manager of the Corporate Planning Division after a resolution is made at a meeting of the Board of Directors or after the relevant information has been reported at a meeting of the Board of Directors or at the Executive Committee in accordance with the internal rules. When disclosure needs to be made urgently, the General Manager of the Corporate Planning Division decides whether or not the relevant information should be disclosed in a timely manner and, with the approval of the President, the General Manager of the Corporate Planning Division discloses that information without delay.
In order to prevent the leakage of financial information and to ensure fairness, the Company has adopted a "silent period" that commences on the day following the closing date of the fiscal period and ends on the day the related financial statements are released. During this period, we will not make any comments or respond to any questions concerning our business results for the relevant period. However, if we determine during the silent period that the results will differ significantly from our forecast, we will disclose the relevant information in a timely manner. During the silent period we will gladly respond to any questions concerning information that has already been released.