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Disclosure Policy

Last updated:June 23, 2017

1. Basic Policy

NTT Urban Development Corporation (the "Company") recognizes that timely and appropriate disclosure of corporate information is fundamental to the sound operation of securities markets, and as such we are committed to providing timely, fair and impartial disclosure of information concerning the Company Group in order to promote shareholders' and investors' understanding with respect to the Company Group and facilitate appropriate investment decisions in the Company's securities.

2. Disclosure Standard, etc.

The Company conducts expeditious disclosure based on principles of transparency, fairness and consistency and in conformity with the Financial Instruments and Exchange Act and other applicable laws and regulations as well as the Securities Listing Regulations, etc. stipulated by the Tokyo Stock Exchange.
The Company also actively discloses information that it believes to be useful in promoting shareholders' and investors' understanding with respect to the Company Group, to the fullest extent possible, in addition with disclosure of information in compliance with the laws and regulations and the Securities Listing Regulations, etc.

3. Methods of Disclosure, etc.

Items of information required to be disclosed pursuant to the Financial Instruments and Exchange Act and other applicable laws and regulations or by the Securities Listing Regulations, etc. of the Tokyo Stock Exchange are applicable shall be disclosed via the Financial Services Agency's electronic disclosure system (EDINET), the timely disclosure network (TDnet) system of the Tokyo Stock Exchange, the press and other media, and the Company's web site, etc.
Other information will also be announced using appropriate methods of distribution such as the Company's corporate website, depending on the content of the disclosure.

4. Enhancement of Communications

The Company will proactively enhance direct communications with shareholders and investors through methods such as presentations and investor meetings and response to day-to-day inquiries.
In addition, the Company will disseminate requests and feedback received from shareholders and investors broadly within the Company Group both as a means to improve investor communication and so that those requests and feedback may be taken into account in group management.

5. Silent Period

In order to prevent information leaks and ensure the fairness of disclosures, the Company observes a silent period from the beginning of the day after the end of each quarter through to the announcement of financial results for that quarter. During the silent period, the Company will refrain from responding to or commenting on inquiries relating to business results. However, where material modifications to results forecasts are anticipated to be required during the silent period, the Company will make necessary disclosures in accordance with the Securities Listing Regulations, etc.

6. Forward-looking Information

Any information disclosed by the Company that is not historical fact comprises forward-looking statements and is subject to risks and uncertainties. This reflects the Company's assumptions and views in the light of information currently available. Actual results may differ materially from forecasts due to changes in the environment and other factors.