The Avex Group is committed to providing shareholders and other investors with information that is timely and appropriate. We treat as insider information all undisclosed corporate information (decisions, events, information about financial data, etc.) that is an important fact as defined in the Financial Instruments and Exchange Act (but not information that meets the standards for being negligible) and information listed in the Tokyo Stock Exchange Regulations for Timely Disclosure of Corporate Information by Issuers of Listed Securities (the "Timely Disclosure Regulations"). This information is disclosed at the proper time in accordance with our own standards.
We also disclose information that is not included in the required disclosure items in the Timely Disclosure Regulations. We provide this information in the interest of giving investors a better understanding of the Avex Group.
We announce corporate information that is covered by the disclosure standards of the Timely Disclosure Regulations in accordance with these regulations. After first providing a preliminary explanation to the Tokyo Stock Exchange, we use the exchange's timely disclosure system (TDnet) to make the information available to the public. We then post this information on our Web site as quickly as possible.
For other corporate information where disclosure is not required by the Timely Disclosure Regulations, we make announcements in a suitable and timely manner much as with required information.
The CFO is responsible for the timely disclosure of information as well as for the management and supervision of information that has not been announced.
As stipulated in our standards, this managing director submits important unannounced information to the Executive Committee and, depending on the nature of this information, to the Board of directors. Following approval, the information is promptly made public as an announcement by the CEO.