Contents

Introduction

Management

Social (S)Environment (E)Governance (G)Recognition / Assurance

Corporate Governance | Risk Management | BCP / BCM | Strict Compliance | Information Security | Tax GovernanceTax Governance
Basic Approach
Approach

PolicyIn performing Group operations, we understand the importanceof acting appropriately with integrity and high ethical standards
in conformance with applicable laws, regulations, in-houserules, social norms, and other requirements.
Our tax approaches have been affirmed in the TOPPANGroup Tax Policy. We firmly meet a core social corporateresponsibility by fulfilling tax obligations under the tax regimesof the countries and regions where we operate.
We are striving for sustainable growth and enhanced
medium- to long-term corporate value by adopting a solidGroupwide tax-management framework that secures tax
compliance and controls tax-related risks.

TOPPAN Group Tax Policy
In accordance with the TOPPAN Group’s Corporate Philosophy,

Corporate Creed, and Conduct Guidelines, we, the TOPPAN Group,

position sustainable growth and medium-to-long-term enhancementof corporate value as vitally important challenges for management.

1. Purpose

Promotion framework

The head of the Finance & Accounting Division of TOPPAN
Holdings Inc. is responsible for operating a Groupwide tax
management framework. Tax departments in the Finance &Accounting Division supervise this framework based on our tax
policy and duly manage operations. They also work with theaccounting departments at Group companies to address taxrelated challenges and risks.
We are intensifying our Groupwide management frameworkby handling tax matters appropriately in accordance with advice
and guidance from external specialists whenever necessary.

framework covering the TOPPAN Group throughout the world.

3）Tax Risk

The TOPPAN Group has established the TOPPAN Group Tax Policy asa set of norms for making decisions on tax-related matters based on afundamental approach of building relationships of trust with stakeholders,
contributing to society, and enhancing corporate value by complying

with the tax-related laws and regulations of each country and region andfulfilling obligations to pay taxes in an appropriate manner.

2. Basic Policy

We give sufficient prior consideration to tax risk associated with businessactivities and aim to reduce tax risk based on advice and guidance fromexternal specialists whenever necessary.

We strive to resolve uncertain tax positions promptly by seeking

advice and guidance from external specialists or by consulting with the tax
authorities in advance as necessary in the event of any doubt regarding
the treatment or interpretation of tax matters.
4）Tax Governance1) Tax Compliance

We fulfill our corporate social responsibility by filing tax returns and paying

Management Framework

To achieve them, we have formulated the following TOPPANGroup Tax Policy and will establish and implement a tax management

taxes as appropriate when they are due in accordance with internationalrules and the tax-related laws and regulations of each country and region inwhich we conduct business.

We endeavor to maintain and enhance tax compliance by conducting

training and ensuring that officers and employees of TOPPAN Group

companies are kept fully informed of policies and other matters related totax.

We establish and implement a global tax governance system to ensurethat the companies of the TOPPAN Group comply with international rules
and the tax-related laws and regulations of each country and region andfile tax returns and pay taxes appropriately when required.
5）Transfer Pricing

We analyze the functions, assets, and risks of each of the parties fortransactions between related parties based on the arm’s length principle
and endeavor to ensure that profits are allocated appropriately inaccordance with level of contribution.

2) Tax Planning

In the consideration and operation of business activities, we implement
effective tax planning in accordance with relevant laws and legislative

principles. We endeavor to maximize consolidated cash flow and enhance
corporate value through such measures as eliminating double taxationand making effective use of tax incentives.

We pay taxes as appropriate in the countries and regions in which

we conduct business, take a basic approach of contributing to local

communities, and do not engage in tax avoidance practices, which seek toexcessively reduce tax payments.

1546）Relationship with Tax Authorities

We strive to build and maintain sound and proper relationships with tax

authorities in the countries and the regions in which we conduct businessand communicate with them in good faith by providing sincere andfactual explanations.

If any issues are raised or any instructions are given by tax

authorities, we clarify the cause of such issues, take appropriate action torectify them or make improvements, and strive to prevent their recurrence.

Sustainability Report 2023