Disclosure Policy
The Group has established a Disclosure Policy that defines the Group's attitude towards disclosure of corporate information, which is to promote a greater understanding of the Group among all stakeholders including shareholders, investors and local communities, and to contribute to their ability to form realistic expectations concerning the Group.
The Group has also established Disclosure Regulations, which mandate the creation of a Disclosure Committee and other matters relating to disclosure in order to implement the Disclosure Policy. Furthermore, the Group's main subsidiaries have established similar regulations to standardize the policy for disclosure.
"Management-Related Information" mentioned in the Disclosure Policy includes not only information covered by law or regulation, but also information that is required of us to carry out our social responsibilities as a member of society. Such information includes information regarding compliance, corporate governance and impact on local communities and the environment.
Daiwa Securities Group Inc. Disclosure Policy
  • The Daiwa Securities Group will disclose important financial, social and environmental information about the Group ("Management-related Information") in a prompt, fair and appropriate manner, so that our stakeholders, (including shareholders, investors and the communities we operate in) may understand and maintain realistic expectations of the Daiwa Securities Group.
  • The Group will comply with the Financial lnstruments and Exchange Law and other laws and ordinances related to securities transactions and the various rules of the financial instruments exchanges on which our stock is listed.
  • The Group will strive to disclose information fairly, in terms of both content and timing.
  • The Group will utilize various communication channels including presentations, telephone conferences, the Internet and printed materials to disclose information in a manner that is easy for investors to comprehend.
  • The Group will keep in mind its responsibility to set an example for other listed corporations, in terms of disclosure, and will strive to promote healthy markets.
  • To ensure that these policies are implemented properly, the Group has established "Disclosure Regulations (*)" which include guidelines for disclosing management-related lnformation and standards for establishing a "Disclosure Commiuee."
* Highlights of the Disclosure Regulations
  • The definition of "Management-Related Information":
    The Daiwa Securities Group Inc. (the "Group") will classify information concerning the Group into three categories. "Information required to be disclosed by laws and ordinances", "individually disclosed information" and "other information" based on content and level of importance.
  • The establishment of the Disclosure Committee, and the description of its authority and functions regarding disclosure of "Management-Related Information":
    The Committee shall hold meetings on a quarterly basis between the end of each quarter and the day the relevant quarterly results are announced, and when a meeting is deemed necessary. The CFO shall serve as the Committee chairman.
  • The procedures for disclosure of "Management-Related Information" based on the Group's Disclosure Policy:
    Information Required to be Disclosed by Laws and Ordinances will in principle be disclosed by registering with the timely disclosure circulation system (TDnet), in compliance with the timely disclosure rules of the Tokyo Stock Exchange, and will be promptly announced to the press and disclosed according to any other laws and regulations. Subsequent to the disclosure, the information shall be posted on the Group's website without delay.
  • The setting of principals prohibiting disclosure of Management-Related Information to specific third parties and procedures in case of violation:
    If Management-Related Information which has not been disclosed is disclosed to a specific third party, the Group shall promptly disclose the applicable Management-Related Information utilizing various measures such as by posting the information on the Group's website.
  • The setting of a quiet period:
    The Group shall not make public comments or respond to inquiries regarding the applicable quarterly financial results during the period following the last day of each quarter until the day of announcement.
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