Toyota Industries Corporation President’s Message
To everyone who works together in Toyota Industries Group
Toyota Industries Group, based on its founding philosophy of the Toyoda Precepts,
constantly strives to develop products and services that contribute to the creation of amore livable planet and richer lives in a warmer society. In doing so, we also aim toachieve sustainable growth.
In the spirit of the Toyoda Precepts, in particular, “Always be faithful to your duties,
thereby contributing to the Company and to the overall good,“ everyone must comply
with laws and regulations, company policies, ethics, and social norms and conductbusiness activities in good faith and with integrity.
In line with the Toyoda Precepts and other corporate values of Toyota Industries Group,
this Code of Conduct provides how we should act. We all have a responsibility to
conduct ourselves in accordance with this Code of Conduct on a daily basis and in a
way that exemplifies a culture of ethics and compliance and upholds our Company’s
reputation.
If you suspect or become aware of any conduct or threat of a violation of this Code of
Conduct, be sure to stop, and contact your supervisor, managers, the relevantCompliance group, the relevant departments, or the ethics and compliance helpline(whistleblowing system) for consultation. You will not be retaliated against as a resultof asking questions or raising concerns.
Let us pledge that we will work together in good faith to protect the values and trust of
Toyota Industries Group.

Koichi Ito
Toyota Industries Corporation President
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Toyoda Precepts
 Always be faithful to your duties, thereby contributing to the Company andto the overall good.
 Always be studious and creative, striving to stay ahead of the times.
 Always be practical and avoid frivolousness.
 Always strive to build a homelike atmosphere at work that is warm andfriendly.
 Always have respect for spiritual matters and remember to be grateful at
all times.

Each of us working for Toyota Industries Group,
guided by the spirit of Toyoda Precepts,
will conduct all of our business activities with integrity,
strive to create a workplace where everyone openly andequally communicates, and do the right things in the right ways.

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Contents
Introduction ............................................................................................................................ 4
1.1.
Positioning of this Code of Conduct .............................................................................. 4
1.2.
Intended Audience ......................................................................................................... 4
1.3.
Expectations ................................................................................................................... 5
1.4.
Violations of this Code of Conduct ................................................................................ 7
2 Compliance .............................................................................................................................. 8
2.1.
Compliance with Competition Laws .............................................................................. 8
2.2.
Prevention of Bribery ..................................................................................................... 8
2.3.
Trade Compliance/Import and Export Controls............................................................ 9
2.4.
Compliance with Environmental Laws ........................................................................ 10
2.5.
Respect for Intellectual Property Rights ..................................................................... 10
2.6.
Protection of Personal Information............................................................................. 10
2.7.
Record Retention ......................................................................................................... 11
2.8.
Protection of Confidential Information ....................................................................... 11
2.9.
Prevention of Insider Trading ...................................................................................... 122.10. Proper Accounting and Tax Payment .......................................................................... 13
2.11. Protection of Company Assets ..................................................................................... 13
2.12. Avoidance of Conflicts of Interest ............................................................................... 14
2.13. Providing Accurate Information to Government Authorities .................................... 14
2.14. Respect for Human Rights............................................................................................ 15
2.15. Risk Management......................................................................................................... 16
3 Relationship with Stakeholder ............................................................................................. 16
3.1.
Customers ..................................................................................................................... 16
3.2.
Associates ..................................................................................................................... 17
3.3.
Business Partners ......................................................................................................... 19
3.4.
Shareholders................................................................................................................. 20
3.5.
Global Society and Local Communities ....................................................................... 21
4 Toyota Industries Group Sustainability Policy ..................................................................... 23
4.1.
Introduction .................................................................................................................. 23
4.2.
Compliance ................................................................................................................... 23
4.3.
Respect for Human Rights............................................................................................ 23
4.4.
Risk Management......................................................................................................... 23
4.5.
Role of Top Management ............................................................................................ 23
4.6.
Relationship with Stakeholders ................................................................................... 24
1

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1 Introduction
1.1.

Positioning of this Code of Conduct
Clearly crystalizing the spirit of founder Sakichi Toyoda,
Toyoda Precepts

the Toyoda Precepts are the founding spirit of Toyota Group
companies.

Toyota Industries Group
Sustainability Policy

Policy based on the Toyoda Precepts that focuses on
the social responsibilities of Toyota Industries Group in
relation to stakeholders from the perspective of contributing
to a sustainable society.

Toyota Industries Group
Code of Conduct

A code of conduct that helps Executives and Associates
put into practice the Toyoda Precepts and the Sustainability
Policy.

1.2.

Intended Audience

This Code of Conduct is applicable to Toyota Industries Corporation and its consolidated
subsidiaries (each as “Company” and jointly as “Toyota Industries Group”) and their
Executives1 and Associates2. Additionally, we expect our Agents and Representatives3
worldwide to comply with the principles set out in this Code of Conduct.
There may be additional laws and requirements specific to regions, countries, and/or groupcompanies. To the extent such requirements apply, they are listed in Appendix.

1“Executives” means directors, executive officers, audit & supervisory board, or equivalent person.

2“Associates” means all regular and contracted employees, all temporary staff and seconded employees or any other personnel working under
the control and supervision of Company.
3“Agents and Representatives” means third parties who interact with government officials and commercial partners on behalf of the Company.

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1.3. Expectations
1.3.1. Your Responsibility
 We should be conscious of the role we play in Toyota Industries Group, be proudof our role, and actively fulfill our role based on high ethical standards.
 Please read this Code of Conduct carefully and put it into practice (including
activating and living the Toyoda Precepts in all we do and all of our businessactivities).
 We must complete periodic training on this Code of Conduct in a timely mannerin order to better understand our commitment to the principles set out herein
and each of our roles in upholding them as well as additional requiredcompliance training as applicable to our respective roles.
 We are expected and encouraged to ask questions about compliance with laws
and Company policies and raise potential compliance concerns, even if we are
not sure if there is an actual issue.
If you are a manager or supervisor, be sure to do the above as well as the following:
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Demonstrate your initiative, set a good example for your subordinates, and givethem guidance.
Listen actively to your team, and colleagues, and act sincerely if you hearsomething, see something, or believe someone may be struggling with aCompany values or compliance issues.
Consult the responsible department(s) (See Appendix at the end of this Code of
Conduct), if necessary.
Ensure your team(s) complete all trainings to help foster an environment thatpractices ethics, compliance, and integrity.
Demonstrate commitment to ethical leadership by fostering an open culture,embracing team learning, and embodying the Toyoda Precepts to maintaincompliance and integrity.

As we strive to integrate the principles of this Code of Conduct into our daily lives, here
are three questions that we can ask ourselves when reflecting if our decisions andactions are aligned with our commitment to uphold the highest standards of ethics,
integrity, and compliance:
1. Is what I am doing, or plan to do, consistent with laws and regulations, theToyoda Precepts, Company policies, and this Code of Conduct?
2. Would I feel comfortable telling my family or friends about it?
3. Would it harm the trust others have in the Company?

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If the answer is “no” or you are unsure, please stop and consult with your supervisor or
manager to responsible compliance department and personnel4.
1.3.2. Ethical Behavior and Compliance with Laws
We comply with all applicable laws, regulations where we do business as well as thespirit thereof and our Company policies, and conduct our corporate activities withhonesty, soundness, and integrity. We, also, respect the culture and history of eachcountry and region and maintain the highest ethical standards.
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When carrying out our work, we always make sure that the relevant regional,
national, and international laws, regulations, and standards, and our Company
policies we refer to are up-to-date and accurate, and we comply with them.
If necessary, we also consult with external experts and the authorities in charge
to clarify what we should observe.
We always think and act with a humble attitude. Referring to publicly available
information about known cases from other companies and reflecting on thelessons learned, we ask ourselves whether our behavior is sufficiently sincere toearn the hope and trust of stakeholders.

1.3.3. Speaking Up and Listening Up (Reporting and Handling Concerns)
We are empowered to raise our hands and voices and call out those instances when wecollectively or individually may not be at our best. We are encouraged and expected to
speak up when we know or have reason to believe a law, regulation, policy, or Company
values are not being met. We are encouraged and expected to listen actively andcommunicate openly and equally when a colleague or other stakeholder identifies orcalls out an issue.
Within our culture, each of us is empowered to report and/or consult with managers,
supervisors, responsible department or responsible compliance departments andpersonnel in the event there is a question or concern regarding how to interpret orunderstand applicable laws, regulations, and policies. Such a culture will help ensurethat our Company follows proper procedures to maintain compliance and live the
Toyoda Precepts.
We should all seek advice and raise concerns whenever we are uncertain as to whether
our own conduct or the conduct of others around us may violate the standards in thisCode of Conduct.

4“Responsible compliance department and personnel” means Enterprise Risk and Compliance Management Department at Toyota Industries
Corporation, Regional Compliance Officers (“RCCOs”), Compliance Leads or Compliance Ambassadors designated by Company. See Appendix at
the end of this Code of Conduct.

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We will immediately raise any concerns or questions about unethical conduct or
potential violations of laws, regulations, or Company policies, including this Code of
Conduct. We encourage our business partners, including customers and suppliers, toreport issues that relate to Toyota Industries Group business.
We should raise compliance questions and concerns to our manager/ supervisor,
responsible department, responsible compliance organization and personnel, or the
Helplines, which offer the ability to ask compliance questions and report complianceconcerns anonymously where permitted by law (See Appendix at the end of this Code of
Conduct).
Please refer to your local, responsible compliance department and personnel for
detailed information on how to reach such channels within your region. Reports will be
investigated as appropriate.
We do not tolerate any form of retaliation against those who report complianceconcerns or issues, regardless of whether these issues are substantiated or not.
1.4. Violations of this Code of Conduct
Violators of this Code of Conduct may be subject to disciplinary action up to and including
termination based on the nature of the conduct and subject to the Work Regulations or
Company policies. Managers and supervisors who neglect violations or overlook it due togross negligence may also be subject to disciplinary action up to and including immediate
termination based on the nature of the conduct and subject to the Work Regulations or
Company policies.

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2 Compliance
2.1.

Compliance with Competition Laws

Basic Stance We comply with all applicable competition laws and maintain fair and free trade.
<Our Code of Conduct>
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2.2.

We minimize contact with competitors, such as at meetings, exhibitions, and tradeassociation gatherings.
We do not engage in communication or conduct that could be considered as cartel
activity or bid rigging such as price fixing, market allocation or boycotts.
If we come across an incident of cartel activity or bid rigging, we firmly refuse to join
it, and we do not get involved in it.
We do not exchange non-public information with competitors about prices, sales
volumes, or production volumes of competing products, business plans, operating
revenues, production capacity, production plans, or the development of new
products.
We do not exchange information or make arrangements with bidders about
successful or winning bids.
We do not engage in unfair trading prohibited by competition laws, such as tellingdealers or business partners to sell our products to consumers at specific prices.
Prevention of Bribery

Basic Stance We are committed to complying with all applicable anti-bribery and anti-corruption
laws and prohibit offering, promising, or making bribes, kickbacks, or other similar
payments, including facilitation payments, to government officials or any otherbusiness partners, whether directly or indirectly (e.g., through third-party
intermediaries, such as agents or representatives).
<Our Code of Conduct>

We do not directly or indirectly through a third-party offer, give, solicit, or receive
money, entertainment, or gifts to or from government officials. If public officials ask
us for money, entertainment, or gifts, we never meet such requests.
We do not give or receive money, entertainment, or gifts beyond the generally
acceptable range to or from business partners.

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2.3.

When we give or receive entertainment or gifts, we do so in accordance with
Company policies within reasonable bounds in terms of the purpose and monetary
value of the entertainment or gifts and our relationship with the other party.
We only engage in business for commercial reasons. We never engage intransactions or business dealings with business partners in which remuneration is
not based on commercial considerations and/or is unreasonably high for the work
and/or service performed.
In case of questions, we may consult our local Legal and/or compliance responsibleorganization and personnel for guidance and pre-approval requirements or limits, asapplicable in the region or locally, to offering, giving, or receiving of gifts, meals,
entertainment, travel and accommodation, and similar benefits.
For more information, please refer to the Toyota Industries Group Anti-Bribery Policy.

Trade Compliance/Import and Export Controls

Basic Stance We comply with all applicable laws and regulations on export as well as economic
sanctions, and in accordance with the Global Export Control Guidelines on
International Security implement security export control appropriately to ensurethat our products or technologies do not go to countries or organizations that may
threaten the peace or security of the international community.
 At the time of import, we duly pay import duties and consumption tax.
<Our Code of Conduct>When exporting, we comply with all applicable laws and regulations and Company
policies on export.
At the time of import, we duly make declarations in accordance with all applicablelaws and regulations on customs duty.
We comply with applicable trade compliance and economic sanctions laws,
regulations, and Company policies and rules.
We must not conduct any prohibited transactions under trade compliance laws,
regulations, and Company policies, including transactions with any sanctioned ordesignated individual or entity.

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2.4.

Compliance with Environmental Laws

Basic Stance We comply with all applicable environmental laws, regulations, standards, andCompany policies.
<Our Code of Conduct>
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2.5.

We commit to complying with all applicable environmental laws, regulations,standards, and Company policies, including laws, regulations, and standards relating
to emissions of environmentally hazardous substances.
This commitment echoes our unwavering dedication to environmental sustainability
and regulatory compliance. When we become aware of an environmental
compliance issue or concern, we immediately report it to our supervisor/manager
and responsible department or responsible compliance department and personnel.
Respect for Intellectual Property Rights

Basic Stance We encourage the creation of excellent inventions for the development of society.
 We respect the intellectual property rights of third parties and pay attention not toinfringe upon such rights.
 We globally protect and utilize the results of our research and creation activities as
our intellectual property.
<Our Code of Conduct>
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2.6.

We apply for the registration of our inventions and ideas without delay so that wecan protect them as intellectual property.
We do not infringe upon the intellectual property rights of third parties.
When utilizing intellectual property rights, we comply with all applicable laws andregulations, and contract conditions.
Protection of Personal Information

Basic Stance We acquire, manage, use, and provide personal information properly in accordancewith all applicable laws, regulations, and Company policies.
 We take security measures to protect the acquired personal information fromunauthorized access, leakage, loss, or falsification.
<Our Code of Conduct>
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2.7.

Before acquiring personal information of an individual, we specify the purpose or
use of the information and notify the individual of the acquisition or announce theacquisition. We do not use the said personal information for any other purpose.
We do not give or disclose personal information of an individual to third parties
without obtaining the consent of the individual (as required by law) or as permitted
by law.
When receiving inquiries or requests about the personal information of theindividual, we sincerely respond to such inquiries and requests subject to applicablelaws and regulations.
Record Retention

Basic Stance Data is a Company asset, and we will store, use, and dispose the data sincerely andappropriately in accordance with Company policies.
<Our Code of Conduct>
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2.8.

We comply with applicable laws and regulations regarding document retention andrecordkeeping.
All records must be accurate and complete, and we are expected to comply with
relevant document retention policies and requirements if relevant.
Protection of Confidential Information

Basic Stance We strive for appropriate protection and management of confidential information.
 We do not tolerate anyone’s acquisition through illicit means of confidential
information held by third parties.
 We understand and comply with our Company policies about information security
and strive to prevent cyber incidents and unauthorized information leaks througheducation and training.
<Our Code of Conduct>

We keep confidential information in a secure place and restrict unauthorized access.
We take appropriate security measures, such as encrypting data, enhancing security
measures, and using password protection.
When receiving a suspicious email that seems to have nothing to do with us, we do
not open it but report it to the responsible department.”

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2.9.

We do not send any inside information about the Company, whether confidential ornot, to privately owned email addresses.
When sending an email, we confirm the recipients in the “To,” “Cc,” and “Bcc” fields
and any attachments so as not to send the email to the wrong recipients or send thewrong attachments.
When taking confidential information out of the Company, we comply with ourCompany policies and manage the information properly to protect it from loss,
leakage, and theft.
If we take pictures on Company premises, we follow our Company policies.
We do not discuss confidential information in the presence of outsiders. Also, we do
not post confidential information online or on social media.
We promptly return information devices and access rights to the Company once
they are no longer needed.
We encourage responsible use of mobile phones and other technology, including
social media, with permission to use technology while in the office or factory (whereapplicable).
Personal device use should not interfere with productivity or violate any applicable
rules or Company policies, including Acceptable Use rules.
Prevention of Insider Trading

Basic Stance We comply with laws and regulations on the prevention of insider trading. We
do not tolerate insider trading that hinders fair securities trading.
<Our Code of Conduct>

If we overhear or otherwise become aware of insider information about theCompany, we do not buy or sell stocks of the Company under the name of ourselves,
our family members, or anyone else, or recommend buying or selling such stocks,
until that information is made public.
Except when necessary for business purposes, we do not reveal insider information
about Toyota Industries Group or business partners to our family members,
acquaintances, or anyone else.

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2.10. Proper Accounting and Tax Payment
Basic Stance To provide our stakeholders with bona fide information regarding our businessperformance and financial position, we conduct proper accounting according to
generally accepted corporate accounting standards and related laws andregulations.
 We strive to contribute to society and maintain and enhance corporate value bycomplying with the applicable tax laws and regulations of each country and region,
as well as by paying the appropriate level of taxes.
<Our Code of Conduct>
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We believe that keeping accurate records at each workplace is the basis forproviding stakeholders with correct information. With this belief in mind, we
properly keep and store records of our daily business activities (including slips andinventory records) in accordance with laws and regulations, and Company policies.
We familiarize ourselves with tax-related laws, regulations, and rules through faceto-face training and e-learning in accounting, and we pay taxes and respond to tax
affairs appropriately.
We uphold the highest standards in our accounting and tax practices. Fraudulent
activities, such as falsifying records or evading taxes, are strictly prohibited. Weemphasize honesty, integrity, and transparency in all our financial dealings.
During audits, we have a responsibility to cooperate fully, providing accurate andcomplete information. Auditing plays a crucial role in maintaining our commitment
to ethical accounting and tax practices.
Confidentiality of financial information is of importance to us. We must ensure theconfidentiality and security of such data at all times.

2.11. Protection of Company Assets
Basic Stance We efficiently and appropriately utilize and manage Company assets and will not
use them for unfair or improper purposes.
<Our Code of Conduct>

We use Company assets (all tangible and intangible items, including products,
equipment, fixtures, information, and intellectual property) for Company mattersonly, not for private purposes. We do not engage in any illegal acts that may damage

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the value of Company assets (such as taking them out of the Company without
permission).
We pay close attention to risks, including fraud, theft, and loss, and strive forappropriate management of Company assets.

2.12. Avoidance of Conflicts of Interest
Basic Stance We do not engage in any act that would be detrimental to the Company for our own
personal gain when performing our duties.

<Our Code of Conduct>
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We each have a duty in the performance of work to ensure that we act in the
Company’s best interest. We do not give priority to the interests of ourselves orothers at the expense of the interests of the Company.
We also draw a line between public and private matters so as to avoid conflicts
between the personal interests of ourselves or our family members or
acquaintances and the interests of the Company (“conflicts of interest”).
We should avoid any activities that create an actual or potential conflict of interest,or the appearance of one.
We should not supervise, hire, or conduct business with people where we have apersonal relationship, unless disclosed appropriately.
We should not engage in outside activities with, or have a financial/professional
interest in, organizations that are in the same industry or are customers / business
partners of the Company.
We should not use, leverage, or reference Company resources (including personnel,
money, data any other assets) for personal gain.
We should not give or receive gifts or business courtesies that could be perceived asfor our own personal gain (and not in the best interest of the Company).

2.13. Providing Accurate Information to Government Authorities
Basic Stance We must provide accurate information to regulators and other government authorities
as required by law. We strictly prohibit misrepresentation or omission in any event.

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<Our Code of Conduct> We are timely and responsive in our correspondence with regulators and othergovernment authorities as required by law.
 We are truthful and complete our responses to inquiries by regulators and othergovernment authorities.
 We do not mislead regulators or government authorities, and we do not report false
information to them.
2.14. Respect for Human Rights
Basic Stance We recognize that all corporate activities, from research and development, andprocurement, to the provision of products and services, may directly or indirectly
affect human rights. Accordingly, we respect internationally recognized human rights,
including the prohibition of forced labor and child labor, right to freely associate or
not associate, and the elimination of discrimination.
 We not only ensure that Executives and Associates of the Toyota Industries Group
make efforts to respect human rights, but also encourage all our business partners tounderstand and cooperate with us in such efforts.
 We are committed to upholding fair wages and foster a supportive working
environment.
<Our Code of Conduct>
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We review and commit to upholding Toyota Industries Group’s Human Rights Policy,
such that our collective effort helps maintain a respectful and inclusive work
environment.
If any misconduct is found, we will report it to our supervisor/manager andresponsible department.
We are considerate of others and respect their individualities and privacy.
We do not tolerate any kind of harassment and will not permit our employees toengage in unlawful behavior that may violate Company policies.
We do not tolerate discrimination or harassment of anyone for reasons of race,color, nationality, ethnicity, origin, creed, membership of political party, martial orveteran status, age, gender, sexual orientation, gender identity, pregnancy, physicalor mental disability, or illness, genetic information or any other classification or
status protected by applicable law.
We have a zero-tolerance policy for human trafficking, slavery, or forced labor(including child labor). We expect our suppliers to act in accordance with thesecommitments.
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If we noticed any discrimination or violation of human rights in relation to ourbusiness, we will take action to stop such unlawful activities.
For more information, please refer to Toyota Industries Group Human Rights Policy.

2.15. Risk Management
Basic Stance We conduct thorough and organized risk management and prepare ourselves forthreats to civil life and corporate activities, such as terrorism, cyber-attacks, natural
disasters, pandemics, and supply-chain risks.
<Our Code of Conduct>

We enhance our sensitivity to risks to the Company and our own workplace on adaily basis and strive to collect information thereof.
We grasp the risks that may occur in our own workplace and in connection to thework we are in charge of, discuss measures against such risks with our colleagues,
identify priority measures that we should take, and strive to prevent and minimize
the risks.
If a risk arises, we immediately report it to our supervisor/manager and relevant
departments and take appropriate action in accordance with our Company policies.

3 Relationship with Stakeholder
3.1. Customers
3.1.1. Quality of Product Development and Production
Basic Stance Always keeping customer orientation in mind, we strive to be ahead of thetimes in research and value creation. We consider product quality and theenvironment, ranging from development and production to sale and services.
<Our Code of Conduct>

From the development planning stage, we listen to the voices of our customers
with sincerity under the motto of “Genchi Genbutsu Gennin” (“go and see foryourself and grasp the situation”) and proceed with research and developmentwith the functionality and quality expected by customers in mind.
In compliance with all applicable laws and regulations, standards and criteria,
and the specifications agreed upon with our customers, including those related
to products and the environment, we provide quality products and services
which meet the expectations of our customers.
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It is critical that we provide truthful and accurate information andcommunications to regulators during all stages of product development,
certification, and production. This commitment supports our standards of ethics
and compliance and reinforces our customers' trust in our quality and integrity.
Based on thorough understanding of the basics of quality assurance5, we use ourcollective wisdom to solve issues through customer-oriented design reviews.
We evaluate, test, and inspect product quality and performance according to themethods agreed upon with our customers and specified rules, and we maintainrecords of such evaluations, tests, and inspections.
We standardize our tasks, conduct them reliably without Muda (waste), Mura
(unevenness), or Muri (overburden), and ensure quality in each process. In theevent of a defective item or an operational error, we halt the project or the
production line to prevent defective items from being sent to the post-process.

3.1.2. Sincere Sales Activities
Basic Stance We conduct intensive product research and forward-looking development
activities to create new value for our customers.
 We serve customers with sincerity, humility, and gratitude with a sense ofrepresenting the Company.
<Our Code of Conduct>
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3.2.

We endeavor to identify what our customers are concerned with and what
difficulties they may have through the repeated process of “Genchi Genbutsu”(“go and see for yourself”), observing, listening, and making recommendations.
Regarding advertising and promotion activities, we comply with relevant laws
and regulations, and thoroughly check in advance to make sure not to infringe
upon the rights of third parties. Also, we do not use expressions that slander
others or cause misunderstanding. We conduct advertising and promotion
activities based on facts and with common sense.

Associates

5

Quality assurance: Refers to guaranteeing the quality that enables customers to buy products with confidence and contentment, have peaceof mind and satisfaction in using them, and use them for a long time.

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3.2.1. Workplace of Mutual Trust and Mutual Responsibility
Basic Stance

We are aware that we are responsible for creating a harmonious and lively work
environment and act in accordance with the spirit of the Toyoda Precepts.

<Our Code of Conduct>
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We are conscious of our responsibilities as a member of Toyota Industries
Group, understand the Company’s philosophy and values, work together as one
with sincerity, and contribute to the betterment of society.
We avidly learn from others, actively strive for self-growth, demonstrate ourown ideas and abilities to the maximum, and work on continuous improvements(Kaizen) and quality enhancements on a daily basis.
We must not waste any extra energy by “putting on a front,” merely forappearance’s sake. We must always deal with what is right in front of us andpursue the true nature of things. Once we find a problem, we must never let up,
but stop and identify the root cause thoroughly, diligently, and courageously tocarry out our practice of Kaizen.
Based on mutual trust and equal partnership, we respect the diversity of ourcolleagues, treat each other in a considerate manner, and cooperate with eachother to fulfill our individual roles.
We create a psychologically safe work environment that fosters open, honest,
and constructive communication across all levels of the organization. This
includes an environment where we are empowered to ask questions, voice theiropinions and concerns, feel safe, and treat each other with respect and dignity.
We carry out our daily work with gratitude to all stakeholders, including
customers, local residents, and shareholders, and everything around us forsupporting us.

3.2.2. Safety and Health
Basic Stance Every associate in the Toyota Industries Group, guided by the spirit of the Toyoda
Precepts, should aim to create a Company culture that prioritizes maintaining
safety in all areas and focuses on mutual courtesy as well as creating workplaces
where we work each day with a sense of happiness and pride.
<Our Code of Conduct>

We aim to create a safe and healthy work environment.
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Recognizing that every action and task poses hazards, we strive to enhance oursensitivities to identify and minimize such hazards.
 If we see someone who is not practicing safe behavior or does not know therules, we will warn them out of kindness.
 We always return to the Safety Vision and think and act according to it on a daily
basis.
 We prioritize the physical and mental conditions of each person to enhance wellbeing.
3.3. Business Partners
3.3.1. Procurement
Basic Stance We respect our suppliers and other business partners, and work with themthrough long-term relationships to realize mutual growth based on mutual
trust.
 Whenever we seek a new business partner, we are open to all candidates,
regardless of nationality or size, and evaluate them based on their overall
strengths.
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We make sincere negotiations to ensure that transaction prices, terms, andconditions reflect social changes, such as rising costs.
When deciding on a supplier, we carefully evaluate and judge the candidates not
only on quality, pricing, time of delivery, safety, management stability, andtechnology development capabilities, but also on whether the candidates fulfill
their social responsibilities, including legal compliance, respect for human rights(including the prohibition of forced labor and child labor), and environmental
conservation activities.
We request the business partners working on behalf of our Company, such as
agents, representatives, and other suppliers of services to uphold our Company’s
reputation and values by complying with applicable laws and regulations and theprinciples set out in this Code of Conduct.
We promote “green procurement” and procure parts, materials, and equipmentthat have a low environmental impact.
We promote procurement from local suppliers so that we can contribute to the
local community.
We support our suppliers in the promotion of business continuity plans (“BCPs”),
so that in the event of an emergency, we can resume the supply of products andservices to customers as quickly as possible.
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We actively encourage our suppliers to follow the Sustainability Guidelines for
Suppliers, which cover the key points of this Code of Conduct, based on theunderstanding and endorsement of the Guidelines.
We are committed to sustainable procurement practices. We consciously
consider environmental, social, and economic impacts in our decision-making,which underlines our dedication to responsible business conduct.

3.4. Shareholders
3.4.1. Public Relations and Investor Relations (“IR”)
Basic Stance We disseminate information actively in a fair manner so that it can be widely
known in society how we contribute to solving social issues through ourCompany activities. At the same time, we listen to the voices of society andmaintain good relationships with our stakeholders through continuous
communication.
 We collect feedback from the stock market and disclose information based on
the principle of fair disclosure, in accordance with applicable laws andregulations.
 Through active dialogue with shareholders and investors, we also strive topromote understanding of Toyota Industries Group and enhance its corporate
value.
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Each of us tries to act in moderation with a high sense of ethics and theconsciousness that our behavior plays a role in the Company’s public relations
activities.
We strive for active and fair dissemination of information that is useful to society
and covers all aspects of our corporate management, including financial
condition, business performance, and business activity details.
We respond to inquiries from stakeholders appropriately and promptly while
paying attention to fairness.
We do not disseminate incorrect or questionable information.
We uphold our commitment to establishing and maintaining strong corporate
governance to protect and promote shareholder interests.

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3.5. Global Society and Local Communities
3.5.1. Environmental Conservation
Basic Stance We will strive for the preservation of the environment across all ourbusiness activities and will work to develop, establish, and promotetechnologies that are compatible with both the environment and economic
activity. We aim to create a rich natural environment for future generations
while establishing a sustainable society which enables the harmonious
coexistence of nature with our daily lives.

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While working on energy efficiency and the reduction of waste in the workplace,
we strive to develop products pursuing superior energy efficiency throughout
the lifecycle of products.
For waste reduction and the effective utilization of energy and other resources,
we strive for product development and production activities that consider the
3Rs: Reduce, Reuse, and Recycle.
We are conscious of the coexistence with nature in our business activities andstrive to reduce impacts on biodiversity.
We strive to take the initiative to conserve the environment and extend
environmental awareness to our families and communities.

3.5.2. Social Contribution Activities
Basic Stance To contribute to the harmonious and sustainable development of society
and the earth, we actively engage in social contribution activities while
respecting the culture, customs, and history of each country.
 Through close communication with local communities and stakeholders, we
engage in activities that meet the needs of the communities where we
conduct business activities and the needs of the various parties involved.
<Our Code of Conduct>

We retain an interest in social issues, think about what we can do, and actively
participate in social contribution activities.
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With the consciousness that the Company is also a member of the local
community, we fulfill our responsibilities as members of the community.
We support our peers in their volunteer activities and strive to create a work
climate in which each of us can casually participate in such activities.
We encourage and celebrate the active roles we take in our communities asvolunteers, mentors, and charity workers.
All donations and sponsorships must comply with applicable laws and ourinternal Company policies on charitable contributions and sponsorships.

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4 Toyota Industries Group Sustainability Policy
4.1.

Introduction

We, Toyota Industries Corporation, and our subsidiaries, contribute to the harmonious andsustainable development of society and the earth through all corporate activities that we
carry out in each country and region based on the Toyoda Precepts (Corporate Creed) and
our Basic Philosophy.
In order to contribute to sustainable development, we believe that management interactingwith its stakeholders is of considerable importance, and we endeavor to build and maintainsound relationships with our stakeholders through open and fair communication. We
expect our business partners to support this policy and act in accordance with it.
4.2. Compliance We comply with local, national, and international laws, regulations, and rules as wellas the spirit thereof, and conduct our corporate activities with honesty and integrity.
We also respect the culture and history of each country and region and maintain thehighest ethical standards.
 We do not violate any laws, including competition laws, anti-bribery laws, export
control laws, intellectual property protection laws, and data protection laws
covering personal information.
4.3.

Respect for Human Rights

Based on international standards including the International Bill of Human Rights and theInternational Labour Organization’s Declaration on Fundamental Principles and Rights at
Work, we respect the human rights of all people.
4.4.

Risk Management

We conduct thorough and organized risk management and prepare ourselves for threats tocivil life and corporate activities, such as terrorism, cyber-attacks, natural disasters,
pandemics, and supply-chain risks.
4.5.

Role of Top Management

Our management recognize that it is their role to realize the spirit of this policy, build
effective governance systems for the conduct of business, and strive to raise awareness ofthe policy’s spirit within the corporation and the entire corporate group. If a violation of thispolicy occurs, our management proactively take responsibility to respond to the situation,
including resolving the problem, investigating the causes, and preventing the problem fromrecurring.

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4.6. Relationship with Stakeholders
4.6.1. Customers
Based on our philosophy of “Customer First,” we develop and provide innovative, safe,and high-quality products and services that meet a wide variety of customers’ demands
to enrich the lives of people around the world.
4.6.2. Employees We respect our employees and encourage personal growth for our employees
under our belief that the success of our corporate activities is led by nurturing
each individual’s character and abilities, and realization of the corporate group’s
full potential.
 We support equal employment opportunities and diversity for our employees
and strive to enhance our team strength.
 We strive to provide fair working conditions and to maintain a safe and healthy
working environment for our employees.
 Through communication and dialogue with our employees, we build and sharethe value of “Mutual Trust and Mutual responsibility” and work together for the
success of our employees and the corporation.
4.6.3. Business Partners
 We respect our suppliers, dealers, and other business partners, and work withthem through long-term relationships to realize mutual growth based on mutual
trust.
 Whenever we seek a new business partner, we are open to any and all
candidates, regardless of nationality or size, and evaluate them based on theiroverall strengths.
4.6.4. Shareholders
 We strive to enhance corporate value while achieving stable and long-term
growth for the benefit of our shareholders.
 We provide our shareholders and investors with timely and fair disclosure of ourcorporate information through open and constructive dialogue.

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4.6.5. Global Society and Local Communities
 Environmento We aim for growth that is in harmony with the environment by seeking tominimize the environmental impact of our corporate activities, such as byworking to reduce the effect of our vehicles and operations on climatechange and biodiversity. We strive to develop, establish, and promotetechnologies enabling the environment and economy to coexist
harmoniously, and to build close and cooperative relationships with awide spectrum of individuals and organizations involved in environmental
preservation.
 Communityo We operate our business so as to earn the trust of respective
communities by honoring the cultures, customs, histories, and laws ofeach country.
o We constantly search for safer, cleaner, and superior technologies thatmeet the evolving needs of society.
 Social Engagement and Contribution to Developmento Wherever we do business, we actively engage in community involvement
activities and contribute to community development, both individually
and with partners for mutual prosperity with local communities.

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First Edition of Toyota Industries Group Code of Conduct: July 2024

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