NX (NIPPON EXPRESS) Holdings Disclosure Policy

Basic Policy

NIPPON EXPRESS Holdings, Inc. ("the Company") respects the principles of the "Fair Disclosure Rules" set forth in the Financial Instruments and Exchange Act, and through timely and appropriate disclosure of fair and highly transparent information, and through dialogues with stakeholders including shareholders and investors, the Company strives to raise the quality of corporate management and enhance corporate value in a sustainable manner, while enriching communication, and maintaining and improving relationships of mutual trust.

Disclosure Standards

The Company, pursuant to relevant laws and regulations as well as rules set forth by the Tokyo Stock Exchange, properly manages important information to be disclosed regarding the Company and its Group companies, etc., and discloses such information while ensuring accuracy of disclosed details. In specific terms, important information denotes information subject to insider trading regulations, and definitive final financial results information that have yet to be announced and that could significantly impact the price of securities.
Additionally, the Company proactively discloses information which it deems to be useful for deepening the understanding of the Company's management policy and businesses ("useful information"), in addition to information set forth in laws, regulations and disclosure rules, etc.

Disclosure Methods

The Company discloses important information via TDnet, the Timely Disclosure network system of the financial instruments exchange, and via EDINET, the Electronic Disclosure for Investors' Network for the disclosure of annual securities reports and other documents pursuant to the Financial Instruments and Exchange Act, and upon disclosure, promptly posts the contents of such disclosures on the Company's website.
Additionally, the Company distributes useful information externally and widely through news releases, press conferences, briefings, materials posted on the Company's website and IR email distribution, etc. The Company will strive to accelerate the speed of disclosure of English translations of information.

Internal Framework for Disclosures

The Company, in an effort to encourage dialogues with shareholders and investors, has established the Investor Relations Promotion Group in the Corporate Planning Division, while the Officer in charge of the Corporate Planning Division oversees IR activities. The Investor Relations Promotion Group serves as the secretariat for information disclosures and the Disclosure Policy is determined by the Board of Directors based on the consultation with the Corporate Communication Division, the Secretarial Division, the Accounting Division, the Financial Planning Division and the Corporate Planning Division on the appropriateness of information disclosure policies and information disclosure activities.
Based on this Disclosure Policy, the Company discloses information, under the responsibility of the Representative Director or the officers in charge of each information to be disclosed.
The Board of Directors shares details of the disclosure activities reported by the Officer in charge of the Corporate Planning Division and confirms the appropriateness of such activities.

Disclosure Structure

Dialogues with Shareholders and Investors, and Feedback

The Investor Relations Promotion Group of the Corporate Planning Division is responsible for setting up dialogues with shareholders and investors, and the Directors and the executive personnel (including Executive Officers) participate in the actual interviews, upon taking into account the contents of the dialogues and the schedule, etc.
In addition to individual interviews conducted in Japan and overseas, financial result briefings are held in each quarter. The Company is endeavoring to create opportunities for dialogues by holding tours of its facilities, business briefings and small meetings sponsored by the Company, as appropriate, as well as taking part in small meetings and IR conferences sponsored by securities companies.
Opinions, etc. obtained through dialogues are periodically fed back to the Board of Directors via the Director in charge of the Corporate Planning Division. Additionally, such feedback is shared with executive personnel including the Executive Officers and the relevant divisions in the Company, and reflected in corporate activities.

Handling of Undisclosed Important Information

To prevent undisclosed important information from being disclosed to only a select few capital market participants, the Company thoroughly communicates the principles of the Disclosure Policy and the importance of information management to parties handling such information. In the event of the unintentional communication of material information, or in other cases in which it is difficult to provide simultaneous disclosure, the Company will provide prompt disclosure.

Quiet Period

To prevent leaks of financial results information and to ensure the fairness of disclosures, the Company establishes a quiet period from the day following the fiscal year-end to the date of announcement of the financial results. During this period, the Company refrains from answering questions relating to the Company's financial results, financial forecasts and plans. However, in the event it becomes likely during the quiet period that the Company's financial results will deviate widely from the financial forecasts, the Company will disclose information, as necessary, pursuant to laws, regulations and disclosure rules.

Financial Forecasts and Future Predictions

The financial forecasts and the future predictions regarding management strategies and other matters that the Company discloses are based on certain assumptions considered to be reasonable in accordance with information available at the date of disclosures. Accordingly, actual business performance may differ from the disclosed forecasts and predictions due to a number of factors.

Third Party Financial Forecasts

In principle, the Company does not offer any comments in regard to third-party opinions, recommendations or financial forecasts. However, the Company may issue statements regarding opinions, etc., issued by third parties that contain major factual errors or misrepresentations to identify these errors as such.

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