1.Introduction of Takeover Defense Measures

Introduction of Takeover Defense Measures Not in Place

Additional Information

Our company has not introduced anti-takeover measures. And We have no intention of introducing the measures again.

2.Other Corporate Governance Measures

(ⅰ) Skill Matrix

We have created a skill matrix for the Board of Directors based on our business strategy. This skill matrix shows the areas in which we specifically expect candidates for directors and the skills and experience of each director. The skill matrix is as follows.

(ⅱ) Disclosure Policy

Because our company considers fundamental the timely disclosure of Company information to its investors, and in conformance with that principle, a system has been put in place to ensure that whenever important issues or material facts come to light, all submissions, resolutions, and reports issued by the Board of Directors as prescribed by Board guidelines are swiftly and adequately disclosed by the Representative Director or such other person responsible for such disclosures.
This system is illustrated by the "Disclosure Structure."

Disclosure Structure

Disclosure Policy

  • (1) Objectives

    Our company respect 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, our 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. Therefore, our company has revised these Disclosure Policy Rules.

  • (2) Applicable Scope

    These rules apply to procedures for corporate information disclosures by NIPPON EXPRESS Holdings, Inc. to shareholders, investors, and other stakeholders.

  • (3) Disclosure Standards

    Our 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 our 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, we proactively disclose information which it deems to be useful for deepening the understanding of our management policy and businesses (“useful information”), in addition to information set forth in laws, regulations and disclosure rules, etc.

  • (4) Disclosure Methods

    Our 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 our website. Additionally, we distribute useful information externally and widely through news releases, press conferences, briefings, materials posted on our website and IR email distribution, etc.

  • (5) Internal Framework for Disclosures

    Our 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 Director 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, our 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 Director in charge of the Corporate Planning Division and confirms the appropriateness of such activities.

  • (6) 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, the methods of dialogues include teleconferences conducted at the first and third quarters and the full-year and interim results briefings. Our company is endeavoring to create opportunities for dialogues by holding tours of its facilities, business briefings and small meetings sponsored by our 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 our company, and reflected in corporate activities.

  • (7) Handling of Undisclosed Important Information

    To prevent undisclosed important information from being disclosed to only a select few capital market participants, our 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, our company will provide prompt disclosure.

  • (8) Quiet Period

    To prevent leaks of financial results information and to ensure the fairness of disclosures, our 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, our company refrains from answering questions relating to our financial results, financial forecasts and plans. However, in the event it becomes likely during the quiet period that our financial results will deviate widely from the financial forecasts, our company will disclose information, as necessary, pursuant to laws, regulations and disclosure rules.

  • (9) Financial Forecasts and Future Predictions

    The financial forecasts and the future predictions regarding management strategies and other matters that our 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.

  • (10) Third Party Financial Forecasts

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


This English translation has been prepared for general reference purposes only. Our company shall not be responsible for any consequence resulting from the use of the English translation in place of the original Japanese text. In any legal matter, readers should refer to and rely upon the original Japanese text released February 22, 2022.

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