Disclosure Policy

The Kuraray Group is building an information disclosure system for maximizing corporate value of the Group based on Our Mission, which states:
"We are committed to developing new fields of business using pioneering technology that improves the environment and enhances the quality of life throughout the world. For people and the planet—to achieve what no one else can."

The Kuraray Group is a social entity and is accountable to society. "Society" collectively refers to stakeholders surrounding the Kuraray Group, including shareholders, investors, customers, suppliers, local communities and employees. The Kuraray Group shall conduct sufficient disclosure in a timely manner in order to achieve this accountability to society, and we will establish bidirectional communication with society through disclosure.

1. Method of Disclosure

Disclosure of Important Company Information: If any determining events occurring events or information related to financial results that may have an impact on investment decisions specified in the "Timely Disclosure Rules" of the Tokyo Stock Exchange, the Kuraray Group shall promptly disclose important company information in accordance with the procedures stipulated in the Rules. The information shall be published on the TDnet system provided by the Tokyo Stock Exchange and provide the same information to the press immediately after it has been published, in addition to placing the information on the Kuraray Group website.

Disclosure of Other Company Information

Even when information is deemed to not be important company information specified in the "Timely Disclosure Rules," if it is believed that there is a social demand to disclose the information or if it is believed that it is necessary to defend the company from false press coverage or rumors, the Kuraray Group shall disclose the information using the same methods used for important information.

2. Quiet Period

In order to prevent leaks of financial information and ensure fairness, the Kuraray Group shall implement a "quiet period" from end of each quater to the announcement of results, and shall refrain from making comments and responding to questions about the results during the current period. However, information shall be disclosed as appropriate if performance is expected to significantly deviate from forecasts in the relevant period.

3. Matters Related to Future Forecasts

In addition to profit estimates submitted to the Tokyo Stock Exchange, the Kuraray Group may disclose company information regarding forecasts that are required in the investment decisions of investors and securities analysts. However, information about such forecasts is based on hypotheses and measurements related to the future business environment and economic conditions made at the time of preparation of the document. Actual performance may differ from these results.

4. Internal Systems Related to Disclosure

The Kuraray Group has established the Disclosure Policy of the Kuraray Group as the basic policy for disclosure. To ensure it is operated properly, regulations such as the Company Disclosure Guidelines have also been established. Based on these regulations, the president makes disclosure decisions on important matters, ensuring an appropriate disclosure system. An internal reporting system has also been established for important company information occurring within the Kuraray Group.

Established on December 6, 2007