IR Information Disclosure Policy

Basic Policy

Based on the Lion Group Charter for Corporate Behavior, Lion actively works to disclose corporate information such as that concerning business strategy and the Company's financial status in a fair, accurate and timely manner in order to secure the trust and understanding of shareholders, investors and all other stakeholders.

Information Disclosure Standards

Lion discloses information in line with the timely disclosure rules of the Tokyo Stock Exchange (TSE), on which the Company's shares are listed. In addition, Lion proactively discloses information that, although not specified by the TSE's rules of timely disclosure, it believes may be of relevance to the investment decisions of shareholders and investors.

Method of Disclosure

In accordance with the above information disclosure standards, Lion discloses information via the Timely Disclosure Network (TDnet) provided by the TSE while actively employing its corporate website to promote the fair and timely disclosure of such information. Furthermore, Lion releases news and updates its website to disclose other information in a fair and timely manner.

Forward-Looking Statements

In addition to the results forecasts that Lion provides to the TSE, Lion provides forward-looking information in such forms as business plans and strategies through results briefings and other IR activities. Forward-looking information reflects judgments made based on the information available at the time of compilation, and actual results may differ significantly due to a number of factors.

Period of Silence

To prevent leaks of information concerning business results and to ensure fairness, Lion maintains a period of silence from the day following the closing of accounts for each fiscal period, including for each fiscal quarter, until that period's results briefing. During this period, the Company does not, in principle, disclose information about or answer questions pertaining to its business results.

November 2, 2007