Terms of Use

From www.sharedresearch.jp

The users of this website are deemed to have agreed to the terms of use set forth below.

I. Rules of Shared Research

The users of this website may edit the reports in the site (“SR Reports”); provided, however, that they abide by the following rules (“Rules”):

1. All conclusions must be explained, accompanied by a logical train of thought showing how the conclusion was arrived at. Statements of opinion not supported by analysis will not be accepted. Speculations, models, and predictions can be accepted if compliant with the Rules.
2. Always provide a source when stating or discussing facts. The source must be reliable and be physically verifiable by a third party within a reasonable effort. Quoting the company on which the SR Report is written (“Company”) or their officers as saying something is not allowed unless the quote is from a publicly available written or audio/visual source. Edits like “according to the Company...” without such references will not be allowed. The only exceptions to this rule are commentary made directly by the Company or its officers as real name users, or by Shared Research Inc. (“SR”) if SR has a contractual research relationship with the Company.
3. Issues discussed must have material impact on the Company. Numerically, events are relevant if they impact the Company earnings by 20% or more. Smaller impact events might be considered relevant; as a rule any >20% impact is relevant and any <10% impact is irrelevant. At the same time, events, facts, or speculations can be deemed relevant if their outcomes may materially impact future Company value, through long term impact on reputation, etc. (e.g. information about a fire in a store of a large retail chain is not relevant but information about a fire on a nuclear power station may be relevant even if direct earnings implications are small in both cases.)
4. This website is operating on principles of mutual respect among users, respect of the Companies, and respect of law. Please do not attempt any action that could constitute a violation of existing laws. Such actions may include, among others, disclosing material non-public information, spreading of rumors, share price manipulation, defamation, leaking of trade secrets and privileged information, and posting copyrighted and trademark protected works without permission. Administrators of this website will make their best effort not to allow such actions on the site but if you see any content that raises doubts of its legality, please inform administrators immediately here. Apart from the obvious requirement to respect the law, we are asking you to respect the Companies and fellow users. Please use restrained language at all times and apply in your judgment the Golden Rule, “Do unto others as you would have them do unto you”.
5. No investment opinion or advice is provided, intended, or solicited on this website. Please do not submit any comments regarding current and future share price performance, investment merits of securities, etc.
6. This website is not intended to be a primary source of information. This explicitly means that any unpublished or previously undisclosed factual information should not be posted in the site.
7. Avoid subjective qualifiers (“good”, “bad”, standalone “high/low” as opposed to “high/low relative to”, etc.), non sequiturs, vague generalizations, etc. Company level opinions and assessment are not acceptable.
8. Do not repeat views already expressed by others in the same SR Report. It is acceptable to express similar views across different Companies in the same or different industries if such views are relevant.
9. Views must be expressed in a neutral tone.
10. State your assumptions when discussing models and speculating about the future. Assumptions must have basis. This means that, for example, it is not enough to proclaim that you think the growth rate in units will be 5% and this is why sales should grow X%. You need to explain why 5% growth rate is a valid assumption.
11. If edits are submitted which violate Rules 4 and 5 above then such edits will be rejected and deleted. The entry for Rejected Contributions archive will include only mentioning of possible violation of Rule 4 and/or Rule 5 and contain no actual text of the rejected edits.

Edits which violate other Rules may also be rejected. In such case, the actual text of the rejected edit will be archived in Rejected Contributions with the entire text available for review. For suspected violations of Rule 2, in case of doubt regarding unsubstantiated claims, such claims may be regarded as violating Rule 4 and the edit be deleted.

The primary Rules are Analyze and Explain, Cite Your Sources, Be Relevant, Behave and Be Nice, and No Investment Opinions. The secondary Rules are Not a Primary Source, No Generalizations, No Repetitions, Tone Neutrality, and State Assumptions and Their Basis.

II. Copyright

1. The copyright of the SR Reports and the rights regarding creation and exploitation of the derivative work of the SR Reports belong to Shared Research Inc.
2. When editing the SR Report, the user is deemed to have agreed to transfer without compensation the copyright of the contents of the edit and the rights regarding creation and exploitation of the derivative work of such contents to Shared Research Inc., and not to exercise the moral rights of author of such contents.
3. Shared Research Inc. grants a license to all users to use the SR Report under the following conditions:

(1) Users may reproduce or modify the SR Report for personal use;

(2) Users are prohibited to distribute, transfer or otherwise use the SR Report in such ways other than as provided in (1) above;

(3) This license is granted non-exclusively; and

(4) Shared Research Inc. may revoke this license without prior notice to the users.

III. Privacy Policy

Shared Research Inc. shall:

(1) Utilize all personal information acquired through this website only for the purpose of proper operation of this website according to the Rules of Shared Research;

(2) Not handle personal information of a person without prior consent of the person beyond the scope necessary for the purpose set forth in (1) above, unless otherwise provided for in law;

(3) Endeavor to maintain personal information accurate and up-to-date within the scope necessary for the purpose set forth in (1) above;

(4) Take necessary and proper measures to prevent leakage, loss or damage of personal information, and for other security control of such information;

(5) Exercise necessary and appropriate supervision over its employees to ensure the security control of personal information when it has its employees handle such information;

(6) Exercise necessary and appropriate supervision over a trustee to ensure the security control of personal information when it entrusts the trustee with the handling of such information;

(7) Not disclose personal information of a person to a third party without prior consent of the person, unless otherwise provided for in law; and

(8) Not acquire personal information by deception or other wrongful means.

For any inquiries regarding this privacy policy, please contact us here.

IV. Disclaimers

1. Shared Research Inc. shall make its best effort to secure the accuracy, propriety, etc. of the contents of this website, but does not make any warranty thereon. Shared Research Inc. shall not be held responsible for any damage caused by the use of this website.
2. This website is not intended to provide any investment advice.
3. The contents or the address of this website are/is subject to change or deletion without prior notice.
4. The disclaimers on this page may change without prior notice.

V. Miscellaneous

1. Should anyone find any statement in the SR Report that may violate the Rules of Shared Research or the law, or is inaccurate or harmful, we kindly ask the person to inform us here.
2. Shared Research Inc. has filed an application for patent on this website (Patent Application No. 2009-118515).
3. These terms of use shall be governed by the laws of Japan.