We work to provide shareholders, investors and other stakeholders with information regarding our management policy, business strategies and financial data,that such information is (1) accurate, (2) fair, (3) timely, and (4) easy to understand.

Information Disclosure
We are determined to appropriately and promptly disclose information as regulated by Japan's Securities and Exchange Law, "Related Rules regarding Timely Disclose of Corporate Information " designated by the JASDAQ Securities Exchange and other regulations. At the same time, we endeavor to make material information that may have a bearing on investment decisions available to all market participants in a fair manner.

Methods of Information Disclosure
Intelligent Wave discloses information designated in the Securities and Exchange Law, Ttimely Ddisclosure Rules and other regulations through the (Timely Disclosure network (TDnet) in Japan, as well as via dels releases. For shareholders, we send our business reports and post various information, including timely disclosure materials and press releases, on our website.

Performance Forecasts and Forward-Looking Statements
The information we disclose may involve statements regarding future plans and strategies, performance forecasts and outlook.These statements are our expectations based on assumptions and opinions we judged from information available to us at that time. Please note that these involve risks and uncertainties due to economic trends, market demands and other factors that could cause actual results to vary from the projected results and the revision of plans without prior notice.

Voluntary Restriction Period on IR Activities
In order to prevent settlement information from leaking and assure fairness, we have established the approximately three weeks prior to our settlement announcements as a period when we voluntarily restrict IR activities. Please note that we will refrain from making any comments or answering any inquiries concerning the settlement during thise period, as well as refrain from holding company briefing sessions and other meetings. However, in the case events that qualify for timely disclosure arise during the period, we will disclose them as deemed appropriate in accordance with the timely disclosure rules set by stock exchanges.

Information Disclosure on the Website
We aim to assure fairness by posting settlement information and other disclosed information on our website (English - IR Information) in a timely manner. Please note in advance, however, that a time lag due to translation, technical issues and other reasons may cause a delay in posting such information to the website. We also endeavor to disclose information not required by the disclosure rules in as fair a manner as possible.