T&D Holdings, Inc. (T&D) strives to promote investor relations (IR) activities based on the core principles of timeliness, fairness and accuracy, with the aim of garnering the trust of and proper evaluation from investors and securities analysts.

T&D's top management is in principle responsible for all IR activities and statements. However, officers or employees in charge of IR may act on behalf of the management depending on the nature of the IR event, its scale, or other factors.
The IR department handles all inquiries from investors and securities analysts concerning the Company's IR activities.

T&D strives to clearly and continuously provide information on the Group's business environment and management strategies, financial condition, and performance to investors and analysts.
Specifically, in addition to statutory and mandatory reporting requirements (including financial statements, "YUHO Report," earnings releases, "Tanshin Report," and other timely information), T&D also provides the following IR-related information.

• Materials for IR events (conferences, financial results meetings, IR fairs, etc.) for investors and analysts.
• Annual reports and other IR-related booklets/publications.

The IR information described above is available on T&D's Web site, including an IR site, as appropriate.

Useful information gathered from investors through IR activities is fed back to management such as to the Board of Directors, and Executive Committee through regular reporting.

In order to ensure fairness and prevent the unauthorized disclosure of financial information, T&D maintains a "Silent Period" in its IR activities for ten(10) days prior to the announcement of quarterly financial results. During this period, T&D refrains from commenting on financial results, and, in principle, from participating in IR events and meetings.

T&D formulates a work plan for IR activities at the beginning of each fiscal year, and activities are verified every quarter.
Verification of IR activities is done by considering neutral indicators such as objective figures and third-party evaluations, and results are reflected in, and used to enhance and improve, future IR activities.