Disclosure Policy

Information Disclosure Policy

The Company shall endeavor to build a trust relationship with its various stakeholders through continuous, appropriate, proactive information disclosure.

Information Disclosure Standards

1. Timely Disclosure of Important Information

We disclose information in conformance with relevant laws and regulations, such as the Financial Instruments and Exchange Act, as well as the Timely Disclosure Rules established by the Tokyo Stock Exchange, where Tsumura's stock is listed.

2. Voluntary Disclosure

We also proactively disclose information to which the aforementioned Timely Disclosure Rules do not apply if we judge the contents of that information to be useful for making investment decisions, taking into consideration timeliness and fairness.

Information Disclosure Method

Tsumura discloses information via the Timely Disclosure Network (TDnet). Disclosed information is promptly posted to Tsumura's website.

Future Outlook

The information disclosed by Tsumura includes forecasts based on the future outlook and plans of the company accordance with Tsumura's judgment at the time of disclosure. Risks and uncertainties are inherent factors in these forecasts, so actual business performance and results may differ.

Quiet Period

In order to prevent the leaking of financial results and ensure fairness in our information disclosures, Tsumura has a "quiet period" that lasts for about one month prior to the reporting announcement date of each quarter, and we refrain from responding to questions and media inquiries related to unpublished results (financial information and company business activities that include research and development).