When undertaking IR activities, Mitsui Fudosan Co., Ltd., endeavors to foster an accurate understanding of its business among key participants of the financial markets-shareholders, other investors, and securities analysts. We target initiatives aimed at earning the long-term confidence of all market participants, and seek to be evaluated appropriately as a result. In an effort to achieve these objectives, we work to ensure proper disclosure of management strategies, financial status, and other information related to the Company.
(1) Disclosure Standards
We disclose information in a timely manner according to the Financial Instruments and Exchange Law and related regulations, as well as rules determined by the Tokyo Securities Exchange (TSE). Our policy is to disclose information swiftly, with an emphasis on four core areas: transparency, fairness, continuity, and timeliness. As far as possible, we also work actively to publish information not required by disclosure laws, to the extent that we deem such information would engender a better understanding of our operations.
(2) Disclosure Methods
Information mandated by rules of timely disclosure is transmitted via TD-NET, an information network operated by the TSE. Securities reports, quarterly reports, and other financial disclosure documents are released via EDINET, the electronic disclosure system operated by Japan's Financial Services Agency. Information not subject to regulations but deemed important from an investment perspective is swiftly uploaded to the Company's Web site and released to media organizations.
(3) "Material Facts" Subject to Disclosure
Other important information is subject to timely disclosure under Rules 2, 3, and 4 of the TSE's "Rules on Timely Disclosure of Corporate Information by Issuer of Listed Security and the Like." Such information pertains to key decisions made by the Company's decision-making body, emerging incidents, information on settlement of accounts, and key information that would influence the judgment of investors.
(4) Disclosure to Third Parties and Performance Forecasts by Third Parties
The Company holds regular meetings with institutional investors, analysts, and others. At such meetings, the Company in principle makes references to past historical facts, facts already disclosed, and limited information pertaining to the general business environment. The Company does not interfere with the opinions and recommendations of securities analysts, nor does it in principle make comments on reports and earnings models prepared by third parties. However, the Company will point out misinterpretations and factual errors.
(5) Responding to Rumors
In principle, the Company does not comment when it receives inquiries about rumors. However, in cases where the Company believes it would be significantly affected by a rumor if that rumor were not addressed, the Company will quickly identify the source of the rumor and take appropriate actions as necessary.
(6) Quiet Period
To prevent leakage of financial information and ensure fair disclosure, the Company designates the three-week period ending the date of announcement of its financial results as the "quiet period." During this period, the Company will neither comment upon nor respond to queries concerning its financial results. If, however, the Company becomes aware of major discrepancy between its performance forecast and its actual financial results, it will publicly announce this discrepancy according to rules of timely disclosure. The Company will also respond to questions about previously disclosed information, even during the quiet period.