Disclosure Policy

Basic Policy

ANA fully recognizes that the timely and appropriate disclosure of company information constitutes the backbone of a sound securities market. Accordingly, ANA has a basic policy of providing the fair, impartial, accurate and prompt disclosure of material information that could influence the investment decisions of investors, including information on corporate decisions, occurrences affecting the Company and financial results. ANA makes such disclosure in compliance with timely disclosure regulations based on the related rules of financial instruments exchanges and legal disclosure regulations based on the Financial Instruments and Exchange Act and other related laws.

Method of Disclosure

We disclose material corporate information via TDnet, a system for timely disclosure operated by securities exchanges in Japan; EDINET, the electronic disclosure system for disclosure documents such as the annual Securities Report (Yuka Shoken Hokokusho) under the Financial Instruments and Exchange Act; the ANA website; or a combination of these disclosure methods. We also make timely disclosure through overseas securities exchanges.

Forward-Looking Statements

In addition to the results forecasts included in announcements of financial results, ANA may publicly release information concerning the future outlook. Statements or projections in such announcements that are not historical fact represent the judgments of ANA management based on information that is currently available. The markets served by ANA are volatile, and sudden changes may occur due to trends in technology, demand, prices and economic conditions, fluctuations in foreign exchange rates, or many other factors. Because of these risks and uncertainties, ANA's actual future performance may differ significantly from the Company's projections.