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Disclosure Policy

1. Basic Policy on Disclosure

J-Oil Mills is committed to conducting sound and transparent management that earns the trust of stakeholders, so that it can achieve sustainable growth and improve its enterprise value over the medium-to-long term. With those objectives in mind, the Company is strengthening corporate governance and building a comprehensive framework of internal controls. J-Oil Mills performs appropriate disclosure in accordance with the law, not only of financial information such as financial status and business results, but also non-financial information such as management strategy, management issues, risks to business activities and information related to corporate governance. In addition to disclosure required by law, J-Oil Mills provides other disclosure as necessary by appropriate means, providing explanations and dialogue with shareholders both directly and indirectly.

For information that has important impact on investment decisions, J-Oil Mills has established a framework to ensure equal access for all market participants. The Company publishes such information in accordance with timely disclosure rules, posts it as necessary on its website and officially announces it to news media.

By providing all shareholders and other stakeholders with timely, reasonable and fair disclosure, J-Oil Mills strives to build trust in the Company as an enterprise and obtain reasonable evaluations of its enterprise value in the capital markets.

In cases where the Company judges that information it disclosed in the past contains errors, the Company promptly corrects the errors and discloses the corrections. J-Oil Mills also promptly updates information when significant changes in conditions occur.

2. Dialogue with Stakeholders

J-Oil Mills recognizes that reflecting the views of shareholders appropriately in its management is a vital management issue for the achievement of sustainable growth and improvement of enterprise value over the medium-to-long term. For this reason the corporate officers responsible for Public Relations and IR work closely to conduct dialogue with shareholders and investors, to obtain their understanding of the Company’s management strategy, management plans and other key management activities. These corporate officers report the opinions they gather through dialogue to the Board of Directors and other management bodies as necessary, thereby working hard to ensure a balanced understanding of the perspectives of a wide range of stakeholders and appropriate responses by the Company based on that understanding.

3. Internal Framework for Timely Disclosure of Important Facts

The Company maintains a Disclosure Committee, composed of the representative officer (President and CEO), corporate officers responsible for disclosure (corporate officers responsible for Public Relations and IR), persons in charge of timely disclosure (Public Relations and IR personnel) and persons in charge of the Securities Report and other financial documents (Finance personnel). This Committee deliberates and decides on the disclosure of corporate information, deliberating with and reporting to the Board of Directors and Management Conference as appropriate with regard to these matters. The Audit & Supervisory Board members and accounting auditors perform regular audits and provide advice and guidance. When necessary, outside specialists such as lawyers provide advice and guidance to assist in deliberations and decision-making.

社内体制図
Organization chart

4. Definition of Important Information and Methods of Disclosure

(1) Information subject to timely disclosure
Financial instruments exchanges stipulate rules for the disclosure of important information regarding duties, management, business results and other issues that have important impact on investors’ decisions regarding investment in marketable securities. This information includes matters such as decisions made by listed companies and their subsidiaries, events at said companies and the accounts of said companies. J-Oil Mills discloses such information in accordance with the procedures in the disclosure rules stipulated by financial instruments exchanges. In addition, the Company posts information on its website and officially announces information to news media, as necessary.

(2) Important information subject to the Fair Disclosure Rules
Certain important information regarding the Company’s operations, duties and assets is not officially announced but has important impact on the investment decisions of investors. J-Oil Mills makes every effort to manage this important information appropriately. However, in the event that this important information is relayed to certain business partners, the Company discloses it in accordance with the Fair Disclosure Rules (as defined in Article 27-36 of the Financial Instruments and Exchange Act and the Cabinet Office Order on the Official Announcement of Important Information). In addition, the Company posts information on its website and officially announces information to news media, as necessary.

(3) Statutory disclosure information
Some important information is subject to statutory disclosure in accordance with the Financial Instruments and Exchange Act. J-Oil Mills discloses this information appropriately in accordance with the law. In addition, the Company posts information on its website and officially announces information to news media, as necessary.

5. Prevention of Insider Trading

J-Oil Mills is committed to the appropriate management of important information and prevention of insider trading. To this end, the Company establishes internal rules, thoroughly notifies personnel in all Group companies of these rules, and promotes activities to raise awareness of the rules and the importance of preventing insider trading.

6. Improving Fair Access to Information

In its provision of timely disclosure, J-Oil Mills is committed to ensuring fair disclosure to all investors. For this purpose the Company submits filings and press releases to each securities exchange and discloses information on its website, with identical timing.

If persons designated as spokespersons by the Company disclose in various presentations to investors, etc., important information that has not yet been disclosed, contrary to the original intentions of the Company, the Company immediately discloses said information appropriately. Similarly, if a third party discloses important information that originally requires timely disclosure but has not yet been officially announced, the Company immediately discloses said information appropriately.

7. Quiet Periods

To prevent leaks of account-settlement information, J-Oil Mills sets “quiet periods” covering the periods from the day after the settlement date of the annual or quarterly accounts to the date of publication of said accounts. During this period the Company refrains from issuing any new comments related to account-settlement information. However, if reason arises during this period to expect that existing forecasts of business results will be significantly in error, the Company discloses this information in accordance with timely disclosure rules. During the quiet period, the Company responds as usual to inquiries regarding information already officially announced.

8.Forecasts

With the exception of statements about past or current events, the Group’s plans, forecasts, strategies and other items listed in the disclosure documents posted on this website consist of forecasts of future business results. Said information is based on the judgment and assumptions of the J-Oil Mills management team in view of information available at the time of publication. As such, actual results may differ significantly from these forecasts, due to elements of uncertainty and risk inherent in business conditions.

In principle J-Oil Mills does not comment on the opinions of third parties regarding the Company’s future. However, when third parties make allegations about the Company that are demonstrably false or mistaken, the Company may point out the issue on its website.

9. Response to Market Rumors

J-Oil Mills does not affirm, deny or otherwise comment on market rumors.

In cases where rumors are circulating with respect to J-Oil Mills, and the Company recognizes that those rumors have a significant effect on the capital markets, such that their veracity or falsehood must be clarified, the Company discloses appropriate information through the timely disclosure network (TDNet).

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