The goal of Elpida's Investor Relations Group is to enhance the understanding of Elpida and aid shareholders, investors and others in the investment community in their evaluation of company value. We strive to meet this goal most importantly by ensuring appropriate information disclosure, and through effective interfacing with the financial community using various communication approaches.
Elpida's information disclosure and IR activities are conducted based on the principles stated below.
Information Disclosure Standards
Elpida conducts fair, accurate and prompt information disclosure in accordance with the timely disclosure requirements set forth in the laws and regulations of Japan and in the rules established by the Tokyo Stock Exchange. In addition, Elpida proactively discloses information which is not required to be revealed by such timely disclosure requirements if the company determines that such information could be valuable in making an investment decision or could assist investors to achieve a more comprehensive understanding of the company.
Information Disclosure Methods
Information required to be disclosed under the Tokyo Stock Exchange's rules for timely disclosure is disclosed via the Timely Disclosure Network, or TDnet, operated by the Tokyo Stock Exchange. Documents which companies are required to submit under the Financial Instruments and Exchange Act, such as Annual and Quarterly Securities Reports and Securities Registration Statements, are disclosed through the Electronic Disclosure for Investors' NETwork, or EDINET, operated by the Financial Services Agency of Japan. Once information concerning Elpida has been properly disclosed via TDnet or EDINET, the company acts as quickly as possible to post the same information on its corporate website. Occasionally, time needed for document preparation may slightly delay the appearance of information on the corporate website.
Furthermore, Elpida posts on its corporate website information the company considers of value to shareholders and investors, or delivers such information in other appropriate ways, in order to facilitate a deeper understanding of company operations.
In fairness to overseas investors, documents and other information are generally posted on Elpida's corporate website in both Japanese and English simultaneously.
Forward-Looking Statements
Because DRAM prices undergo sharp fluctuations in the DRAM market it is difficult to accurately project DRAM prices. Therefore, Elpida does not present earnings forecasts. Instead, Elpida provides several estimates relevant to future earnings in its quarterly consolidated financial reports (kessan tanshin) which can be used as a general forecasting guideline. In addition, in accordance with the regulations of the Tokyo Stock Exchange, the company discloses preliminary consolidated financial results for the first half and full year as soon as those preliminary figures are confirmed.
Please note that Elpida's forward-looking statements, including the kinds of information mentioned above, are based on the information available at the time of disclosure and certain assumptions and beliefs of Elpida with respect to future events & financial performance. Therefore, actual business performance and financial results may differ materially from those statements due to changes in a number of factors.
Elpida's Policy on Comments
In principle, Elpida will not comment on the following matters:
- The propriety of the current share price or future share price performance.
- The propriety of investment decisions and target share prices in information created by financial analysts or other third parties.
- Stock market rumors.
However, Elpida will respond appropriately if the company believes the above matters left unaddressed would have a significant impact on stakeholders or the business operations of the company.
Quiet Period
In order to prevent the leakage of financial results and assure their disclosure in a fair manner, Elpida's policy is to establish a quiet period that lasts from the day after a quarterly business period ends until the day quarterly financial results are announced. During this quiet period Elpida refrains from making comments or responding to inquiries concerning quarterly financial results.