IR Basic Policy

1. Purpose of IR Activities

JAPEX aims to earn the trust and fair evaluation of our shareholders, investors, and all other stakeholders by providing them with accurate, fair, and timely information on our management policies, business operations, and financial condition.

2. Basic Policy for Information Disclosure

JAPEX is committed to disclosing the material corporate information such as corporate decisions, occurrences of material facts, or financial information that has a significant effect on investment decisions in a timely, appropriate and fair manner in accordance with applicable laws and ordinances including the Companies Act, the Financial Instruments and Exchange Act, and the Rules on Timely Disclosure of Corporate Information by Issuers of Listed Securities (the Timely Disclosure Rules) stipulated by the Tokyo Stock Exchange (TSE). We also disclose the information not required by related laws and regulations on disclosure but contributory to make their understanding of our business, in a prompt and fair manner.

3. Information Disclosure System

Information on material facts is collected by promptly notifying the Corporate Communication Office, which is responsible for information management and disclosure, from each supervising department. The Corporate Communication Office is responsible for determining whether or not aggregated information is a material act, determining the timing of disclosure, compiling the content of disclosure, and conducting disclosure in a consistent manner in order to prevent leaks before disclosure and to ensure prompt disclosure. If there is any doubt on the decisions whether or not a matte constitutes a material fact, the decision will be promptly made by the officer in charge of the Corporate Communication Office who is responsible for handling the information.The content of disclosure is determined through appropriate internal procedures by the department in charge of handling material facts and is disclosed by the Corporate Communication Office.

4. Disclosure Method

JAPEX discloses the material information through the Timely Disclosure network (TDnet) provided by the TSE in accordance with the Timely Disclosure Rules. The information disclosed through TDnet is also provided on the JAPEX website promptly. In addition, JAPEX is committed to disclosure of the information not applicable to the Timely Disclosure Rules, on the JAPEX website or other ways in a prompt and fair manner.

5. Quiet Period

In order to prevent information leaks and to maintain fairness of the disclosure, a month prior to the announcement of financial results is deemed as the "quiet period." During the quiet period, JAPEX refrains from making comments on and answers to inquiries related to the financial information. However, if any material fact necessary to disclose under the Timely Disclosure Rules occurs during the quiet period, JAPEX discloses the material information in accordance with the Timely Disclosure Rules.

6. Notes Concerning Future Prospects

Plans, strategies, and other non-historical facts related to the Company's future prospects posted on the Company's website are based on the judgment of the Company's management using information currently available. These future prospects are subject to risks and uncertainties, and investors are cautioned not to place undue reliance on them in making investment decisions. Please note that actual results may differ significantly from these forecasts due to various factors including the business environment surrounding the Company, demand trends, crude oil and natural gas price trends, and foreign exchange rates.