Disclosure Policy

To provide shareholders and investors with accurate and fair information, MUTOH HOLDINGS publishes important information in a timely manner as required by the Financial Instruments and Exchange Act and the disclosure regulations of the Tokyo Stock Exchange. We also make every effort to disclose any other information that may be effective in fostering a better understanding of MUTOH HOLDINGS.

□ Disclosure Channels

MUTOH HOLDINGS discloses important information as required in the Tokyo Stock Exchange regulations on timely disclosure by explaining the information in advance to the Tokyo Stock Exchange, then posting the information on TDnet, TSE's electronic disclosure system. After this disclosure, MUTOH HOLDINGS provides the information to the media and posts it on the company website (this website).
MUTOH HOLDINGS also discloses information not required by the Tokyo Stock Exchange disclosure regulations. This information is provided through the media and/or the company website, to ensure that all shareholders and investors are informed in a fair and timely manner.

□ Future Directions

The directors of MUTOH HOLDINGS deem that the forecasts of business results the company submits to the Tokyo Stock Exchange and the forecasts of business results, plans, strategies and other materials regarding forecasts of business results the company publishes on this website are reasonably accurate, taking various risks and uncertainties into account, based on the information available at the time of submission and publication and on certain assumptions. However, actual results may differ substantially from these forecasts. Investors are therefore advised not to base their investment decisions on these forecasts of business results alone.

□ Silent Periods

To prevent the leaking of financial information and ensure the impartial distribution of information, MUTOH HOLDINGS maintains a silent period from the date of closing of the annual accounts, interim accounts, and quarterly accounts to the date of publication of those accounts. During this period, MUTOH HOLDINGS normally declines to comment or answer any questions regarding its accounts. However, when it becomes necessary to disclose information under the Disclosure Policy during the silent period, information is promptly disclosed through the disclosure channels described above.

□ Cases Where Disclosure May Be Refused

MUTOH HOLDINGS may elect not to respond to inquiries regarding certain topics in order to maintain competitive advantage or to comply with confidentiality agreements.