Investor Relations

Disclosure Policy

Information disclosure rules

JR-West makes disclosures of necessary information on JR-West and its Group pursuant to the Financial Instruments and Exchange Law of Japan and other related laws and ordinances, as well as the rules on timely disclosure of corporate information (the "timely disclosure rules") established by the stock exchanges on which its shares are listed. In addition, JR-West will endeavor to make active and fair disclosures of information considered in its judgment helpful to investors in deepening their understanding of JR-West and its Group.

Method of information disclosure

Any disclosure of information falling under the category of the timely disclosure rules will be publicized pursuant to such rules through "TD-net" provided by the Tokyo Stock Exchange. JR-West will endeavor to promptly post on its website such information publicized through TD-net. In addition, with regard to any information not falling under the category of the timely disclosure rules but considered desirable in JR-West's judgment to be disclosed, JR-West will make a disclosure thereof as fairly and broadly as possible through publication on its website and other means. Hence, it is advisable to consult JR-West's website as well as TD-net for information.

Prevention of insider trading

On February 1, 2004, amendment was made to Article 30 (12-Hour Rule) of the previous Ordinance to Enforce the Securities and Exchange Law of Japan, which provides for the requirements for publication for the purpose of regulation of insider trading. Accordingly, when corporate information is publicized through TD-net in accordance with the timely disclosure rules established by the stock exchanges, publication for the purpose of regulation of insider trading shall be deemed to have been completed.JR-West will publicize any corporate information required to be publicized, as well as any important corporate information considered in JR-West's judgment to have any impact on investment decision-making, through TD-net in accordance with the timely disclosure rules. Through such information disclosure, JR-West will endeavor to prevent insider trading.

Investment decisions

Information on JR-West's website is for better understanding of JR-West and its Group and not for any solicitation of investment. Please be aware that decisions regarding investing are the responsibility of users themselves.

Nondisclosure of information prior to the announcement of financial statements (silence period)

To prevent leakage of information on financial statements and ensure fairness, JR-West will, during two weeks prior to each date of the announcement of quarterly financial statements, which period is called a silence period, not answer any inquiry or make any comment about its financial statements. However, in the event of any prospective material change in operating results during such silence period, JR-West will make a disclosure in accordance with the timely disclosure rules.

Exclusion of responsibility

Future plans and prospects publicized by JR-West are based on certain assumptions considered reasonable according to information currently available to JR-West and various risks and uncertainties could cause JR-West's actual results to differ from the plans or prospects. JR-West also may revise the plans and prospects.

It should be noted that disclosure is basically made in Japanese and the above is the translation of Japanese website.