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

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

T&D strives to clearly provide the continuous information on the business environment and strategies, financial results and performance to investors and analysts.
More specifically, in addition to information mandated by law and the institutional disclosure principles (including financial statements "YUHO Report", financial summary "Tanshin Report", and other timely information), T&D also provides the following IR-related information.

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

IR information described above is appropriately posted on T&D's Web site, including pages for investor relations, etc.

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

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 the 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.