JPX's Disclosure Policy
JPX's corporate philosophy defines our mission to society as contributing to the realization of an affluent society by promoting continuous development of the market by ensuring our public nature and reliability, constructing a highly convenient, efficient, and transparent market foundation, and providing creative and attractive services. JPX executes prompt, precise, and fair disclosure activities for shareholders, investors, and other stakeholders in accordance with our corporate philosophy. By continuing this practice, JPX strives to pursue a higher degree of management transparency and earn the trust of society as a good corporate citizen. The following disclosure policy has been created in order to make this fundamental policy known both within and outside of the Company and to ensure that JPX's disclosure practices are always executed according to appropriate standards, methods, and framework.
1. Information Disclosure Standards
JPX discloses information in accordance with the Companies Act, the Financial Instruments and Exchange Act, and other laws and regulations, as well as rules on the timely disclosure of corporate information stipulated in the "Securities Listing Regulations" of the exchanges on which JPX is listed (hereafter "Timely Disclosure Rules"). When information related to determined facts, occurring facts, or information related to account settlement that has significant impact on investment decisions arises, JPX will promptly disclose such information according to the standards outlined in the Timely Disclosure Rules. At the same time, JPX will proactively disclose information that is deemed to be important or valuable to investment decisions, even when it is not subject to the Timely Disclosure Rules. Personal information, client information, and information that may infringe upon the rights of a related party, however, will not be disclosed.
2. Information Disclosure Methods
Information subject to the Timely Disclosure Rules is promptly published on our corporate website following the disclosure via the Timely Disclosure Network (TDnet) provided by Tokyo Stock Exchange. Information that is not subject to the Timely Disclosure Rules is also openly announced via various methods including our corporate website.
3. Fair Disclosure of Material Information and Prevention of Insider Trading
JPX has established internal rules for the appropriate management of material corporate information in order to enforce fair disclosure and prevent insider trading while working to promote a thorough understanding and awareness of these rules by officers and employees across the entire group.
4. Handling of Earnings Forecasts and Future Information
Any non-historical fact disclosed in our earnings forecasts, strategies, policies, targets, etc. are forward-looking statements. Such statements are made on the grounds of a plan, expectation, or decision made based on information obtained at the time and certain assumptions deemed reasonable, while actual earnings results and other disclosed future information may vary greatly due to various risks and uncertainties.
5. Quiet Period
In order to ensure fairness of disclosure and prevent the leak of earnings-related information, JPX has defined a quiet period of three weeks preceding the day of our earnings announcement for each quarter. During this period, JPX will refrain from responding to or making comments on questions related to our account settlement and earnings forecast. However, if a large discrepancy from the earnings forecast is found during the quiet period, information will be disclosed in an appropriate and timely manner in accordance with the Timely Disclosure Rules.
6. Development of Internal Systems/Structures
Through the appropriate management of our disclosure policy, JPX establishes and maintains systems/structures that allow us to disclose information in a timely and appropriate manner following the Timely Disclosure Rules. JPX has clarified the process from the point at which information originates to its disclosure in order to allow information disclosure departments to appropriately collect and analyze information in, coordination with business departments and to conduct disclosure with appropriate corporate judgment.
Overview of JPX Timely Disclosure System
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