Enacted on May 3, 2006
Revised on November 5, 2007
1.Disclosure Policy
To earn the trust and support of society, Kao Corporation ("Kao") is committed to timely, accurate and fair disclosure of information to its shareholders, investors and all other stakeholders. Kao adheres strictly to the Japanese Corporation Law and the Financial Instruments and Exchange Law and other regulations, as well as regulations set down by Tokyo Stock Exchange, Inc., and discloses information promptly in accordance with the Securities Listing Regulations*. In addition, Kao proactively discloses information of social relevance pertaining to the Kao Group.
2.Disclosure Method
Kao will disclose all information subject to the Securities Listing Regulations on the online Timely Disclosure Network (TDnet) of Tokyo Stock Exchange, Inc. To ensure fair and timely disclosure, the information will also be promptly posted on the Kao website. Furthermore, depending on the purpose of disclosure, the Kao Group will use press conferences, presentation meetings, printed materials and other methods to ensure all pertinent information is disclosed.
3.Fairness
To ensure fairness toward all media organizations, investors and securities analysts, the Kao Group will not disclose important unpublished information to specific individuals, and will refer only to previously disclosed facts, facts of a general nature and information regarding the business environment.
4.Organization
Kao has established a Disclosure Committee to set the Kao Group's regulations for disclosure, develop an organizational structure and determine the appropriateness of information to be disclosed.
5.Voluntary Restriction on Disclosure
To ensure the fairness of the information it discloses and to prevent the unauthorized release of earnings information, Kao refrains from commenting on or replying to any questions regarding business results from the end of each quarter until the business results are officially announced. However, Kao will make an appropriate announcement pursuant to the Securities Listing Regulations in the event that results are expected to differ substantially from forecasts.
6.Information from Third Parties
The Kao Group assumes no responsibility for any forecasts or comments related to the Kao Group by any third parties.
* The "Securities Listing Regulations" under these guidelines shall mean the Securities Listing Regulations itself and other regulations there on set down by Tokyo Stock Exchange, Inc.
