PASSION FOR THE BEST
Disclosure Policy
Daiwa Securities Group Inc. Disclosure Policy
1. We will observe fair and timely disclosure of important financial, social and environmental information ("Management-Related Information") regarding the Daiwa Securities Group so that our stakeholders, (including shareholders, investors and the communities we operate in) may understand and maintain realistic expectations of the Daiwa Securities Group.
2. We will comply with the Financial Instruments and Exchange Law and other laws and ordinances related to securities transactions and the various rules of the financial Instruments exchanges where on which our stock is listed.
3. We will endeavor to achieve fair disclosure both in terms of content and timing.
4. We will utilize various communication channels including presentations, telephone conferences, the Internet and printed materials to disclose information in an easy to comprehend manner for investors.
5. We will consciously act as a leader of the securities markets in terms of disclosure and set the standards for other listed corporations.
6. To realize the above policies we will establish Disclosure Regulations* and set up a Disclosure Committee to lay down procedures for disclosing information.

* 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 disclosing 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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