CONTENTS
Corporate Philosophy.................................................... 2

Policies - Environment

Editorial Policy............................................................... 3

Environmental Health and Safety Policy.................... 113

Message from Management......................................... 5

Control Rules for Environment-related

Basic Concept and Governance System...................... 6

Substances Used in Product..................................... 114

ESG Strategy............................................................... 10

Green Procurement................................................... 115

Participating in External Initiatives............................... 15External Evaluation...................................................... 16

Policies - Society
Human Rights Policy................................................. 116

Environment

Olympus Global Quality Policy.................................. 118

Environmental Policy and Strategy.............................. 18

Supply Chain Policy of Olympus Group.................... 119

Reduce Environmental Impact.................................... 26

Expectations of Suppliers.......................................... 120

Environmental Communication.................................... 35

General Employer Action Plan based on

Environmental (E) Data................................................ 36

the Act on Promotion of Women's Participation
and Advancement in the Workplace......................... 122

Society

General Employer Action Plan based on

Human Rights.............................................................. 42

the Act on Advancement of Measures

Product Responsibility................................................. 44

to Support Raising Next-Generation Children........... 124

For the Benefit of Patients........................................... 46

Corporate Citizenship Policy..................................... 126

Elevating the standard of care.................................... 48

Charitable Donations and Grants Policy................... 128

Responding to Customers........................................... 51
Procurement................................................................ 54

List of policies - Governance

Employment................................................................. 56

Basic Policy on Corporate Governance.................... 129

Labor Relations........................................................... 58

Because What We Do Matters:

Employee Development.............................................. 59

Olympus Global Code of Conduct............................ 135

Diversity, Equity and Inclusion.................................... 62

Whistleblowing System.............................................. 136

Promotion of DEI in Japan........................................... 65

Global Standards:

Diversity, Equity and Inclusion in the Americas.......... 71

What Olympus Expects of Third Parties.................... 137

Occupational Safety and Health................................. 73

Olympus Group Tax Policy........................................ 138

Health Management and Better-Health Promotion..... 80

Olympus Group Guidelines Covering the

Supporting Physician Development inPrevention of Bribery................................................. 140

Emerging Countries..................................................... 92

Disclosure Policy....................................................... 143

Participating in the Medical Industry Organizations... 93

The Ethics Committee............................................... 144

Social (S) Data............................................................. 94

Payments to Healthcare Professionals and
Healthcare Organizations.......................................... 145

GovernanceOlympus Group Information Security Policy............. 146

Framework of Corporate Philosophy........................... 99

Internal Control System............................................. 147

Corporate Governance.............................................. 100

Olympus Group Risk Management

Communication with Stakeholders............................ 101

and Crisis Response Policy....................................... 148

Compliance............................................................... 103

Handling of Personal Information.............................. 149

Anti-Corruption.......................................................... 106
Information Security................................................... 108

Independent Assurance Statement related

Risk Management System......................................... 110

to Environmental and Social Data............................. 156

Governance (G) Data................................................ 112

GRI Content Index..................................................... 162

Corporate Philosophy

All of our activities are based on our corporate philosophy, which consists of Our Purpose and Our Core Values.

Our Purpose
Making people's lives healthier, safer and more fulfilling
Supporting cutting-edge medical procedures. Helping make people feel safer and more secure. Through our business activities, we aim to contribute to
global society by making these things happen. This is the purpose of our existence.

Our Core Values
Integrity, Empathy, Long-term View, Agility, and Unity
These values are shared among all global Olympus employees and are reflected in everything we do at Olympus. They are the very values that will let us
realize Our Purpose.

2

Editorial Policy

About Sustainability Report 2023
The Sustainability Report 2023 is a PDF version of the information on our Sustainability page as of September 2023.

The Olympus Group's Sustainability information is reported on the Sustainability page.
In addition to annual updates in August, the Sustainability page is updated as needed to ensure timely information disclosure.
The Sustainability Report and Archives are available in the Sustainability Library.

Sustainability Page
Sustainability Library / Sustainability Report

Organizations Covered by the Report
Taking the Olympus Group as its basis, any references in this report that fall outside that basis are identified separately.
The descriptions used herein denote the following.
Olympus Group: Olympus Corporation and subsidiaries (global)*
Olympus: Olympus Corporation
Japan subsidiaries: Major subsidiaries in Japan
Subsidiaries outside Japan: Major subsidiaries outside Japan*Some information for Evident Corporation, which assumed the Scientific Solutions Business, a non-ongoing business of Olympus Group, was excluded from

reporting.

Period Covered by the Report
Latest annual update: FY2023 (April 1, 2022–March 31, 2023)
The report contains some information outside this period.

Reporting cycle, date of most recent report
Latest annual update: August 21, 2023 (in Japanese and English)
Previous annual update: July 25, 2022 (in Japanese and English)

Reference Guidelines
GRI, Sustainability Reporting Standard
Environmental Reporting Guidelines (2018) of the Ministry of the Environment, Japan
Task Force on Climate-related Financial Disclosures (TCFD)
The ISO 26000 guidelines and the 10 Principles of the United Nations Global Compact were also used as reference when selecting items for inclusion in thereport.

External Assurance
3Environmental Data
Scope of external assurance
The amounts of CO2 emissions in Scope 1, Scope 2 (location based and market-based methods), and Scope 3: Categories 1 to 7, 11, 12; and energy
consumption, water usage, and waste discharged.
External Assurance Organization
SOCOTEC Certification JAPAN

Occupational Safety and Health Data
Scope of external assurance
Number of Lost Time Injuries , Lost Time Injuries (of one day or more) Frequency Rate (LTIFR), Number of Fatalities
External Assurance Organization
SOCOTEC Certification JAPANContact
Sustainability Contact Form

4

Message from Management

Since our founding, we have remained proud to have provided significant value to society for morethan 100 years, making people’s lives healthier, safer and more fulfilling around the world through ourinnovation. Since the development of the world's first practical gastrocamera in 1950, our commitment
to delivering innovative technologies has allowed us to provide the global healthcare community withadvanced medical equipment and services. We will further our focus on patient care pathways, fromprevention through recovery, to help healthcare professionals deliver diagnostic, therapeutic andminimally invasive procedures to improve clinical outcomes, reduce overall costs and enhance thequality of life for patients and their safety.
We have made changes to our management structure as a shift towards the next level of growth in FY2024 and beyond. Under the new structure we will
work in an even more unified manner to take a proactive approach to ESG - Environment, Social, and Governance - and actively strengthen our efforts toaddress our materiality. By embodying Our Purpose, we will continue to deliver innovations that only Olympus can create and contribute to helping our
stakeholders, including our employees, solve challenges.

Director, Representative Executive Officer, and Executive Chairman and ESG Officer
Yasuo Takeuchi
Director, Representative Executive Officer, President and Chief Executive Officer
Stefan Kaufmann5Basic Concept and Governance System

Basic Approach to Sustainability
Putting Our Purpose into Practice as the Basic Premise of Sustainability“Making people's lives healthier, safer and more fulfilling” is Our Purpose at Olympus.
Supporting cutting-edge medical procedures. Helping make people feel safer and more secure. Through our business activities, we aim to contribute to
global society by making these things happen. This is the purpose of our existence. The basic premise of sustainability at Olympus is putting Our Purpose
into practice.
Corporate Philosophy

Aiming for both a “Sustainable OLYMPUS” and a “Sustainable Society”
Olympus has developed its business activities based on the legacy and in line with its founding spirit of “Create something truly original, and propose newvalues to society.” We believe that contributing to the sustainable development and progress of the globe and society based on this founding spirit, by putting
Our Purpose into practice, will allow Olympus itself to achieve sustainable growth and value creation. We are aiming to achieve sustainable growth bycreating a cycle whereby profits generated through our business activities are reinvested to create new value in accordance with our corporate principles andsubsequently generate further profits.
The environment surrounding corporations is changing from day to day, while society too is undergoing major changes. One of the major goals of oursustainability initiatives is to establish an appropriate understanding of demands originating from outside the company, and work to address various social
issues in our capacity as a MedTech company, while catering to the expectations of our stakeholders.

Basic Sustainability Concepts

Funding our journey and invest to create value for all stakeholders

6

Sustainable OLYMPUS: Putting Our Purpose into PracticeContribute to improving the quality of life (QOL) of patients through value co-creation alongside
physicians and medical institutions
Olympus's medical business commenced with its development of the world's first gastric camera suitable to practical applications. This development was a
direct response to the desire among physicians for a means for the early detection and diagnosis of gastric cancer to achieve reductions in the associatedmortality rates. From that time, through to the present, Olympus has worked in close step with physicians for this common purpose in developing
endoscopes and other medical devices.
Delivering outstanding products and technologies and training healthcare professionals in their safe and appropriate application facilitates both the “early
diagnosis” of diseases as well as “minimally invasive treatments,” to reduce the burdens on patients and thereby contribute to improvements in patient
quality of life (QOL).
Olympus will continue to rise to the challenge of innovations in the domain of medical devices made possible by collaborations with healthcare professionals,
with the aim of improving healthcare outcomes (medical efficacy) and healthcare access (disseminating medical technologies of advanced medical efficacy).

Founding of Olympus
Our Business Fields

Olympus’s Basic Business Structure

Maintain and enhance relationships of trust with stakeholders by emphasizing “dialogue” and“action”

7Olympus promotes all of its business activities while responding to requests and expectations from society and fulfilling our duties and responsibilities basedon our Corporate Philosophy. We understand that Olympus as a corporation deserves to continue to exist only when we fulfill our responsibilities throughdialogs with stakeholders-including customers, suppliers, shareholders, investors, employees and their families, local communities, and international society.
As part of our mission as a MedTech company, Olympus will continue to cater to the fundamental needs of people and of society throughout the globe
through our business activities. We will meanwhile foster a corporate culture that enables each and every employee to perform at their best. We will
additionally seek to grow sustainably and contribute to the further development of society.

Stakeholder Relations at Olympus

Sustainable Society: Contributions to the Sustainable Development Goals (SDGs)

Decipher and elucidate the relationship between our business activities and the SDGs andestablish business goals to which those activities should contribute
Olympus will engage, through its business activities, with the resolution of environmental and societal issues facing the world while contributing to therealization of a sustainable society, which is the objective of the SDGs*. Toward this end, we have deciphered and elucidated the particular relationships
between the SDGs and our own business activities, in the process identifying 13 goals closely related to Olympus’s operations.
Of these 13 goals, the SDG to which our degree of contribution through our business is greatest is goal 3 “Good health and well-being,” and we will actively
contribute to the resolution of multiple societal issues centered on “health” as a global MedTech company.
* Sustainable Development Goals (SDGs): Common goals for the international community set by the United Nations toward the achievement of a sustainable world by the year
2030.

Olympus and Its Relationships with the SDGs

Main materiality items associated with contributions to goal 3
8

Refer to the below regarding materiality associated with SDGs other than goal 3

ESG Strategy

Sustainability Governance System

Enhancing the links between management and sustainability
Olympus has promoted sustainability management, including the designation of an ESG Officer, since 2021, and establishment of the KPIs specified in our
medium- to long-term business plan.
In addition, in FY2021, we made the decision to link 10% of the executive officers' performance share unit (PSU), a part of our long-term incentive
compensation, to the results of an evaluation by an external ESG evaluation organization.

Established ESG Committee and strengthened sustainability strategy promotion system
To enhance Olympus’s ESG initiatives, we undertook a reconsideration of our promotion structure for sustainability strategies at the Group level in FY 2023.
We then established a new sustainability governance system in April 2023. Under the new governance system, an “ESG Committee” has been put in place,with the ESG Officer having ownership, and the committee comprised of heads of respective businesses and functions. The ESG Committee implements
sustainability strategies, discusses important measures related to materiality, and monitors progress against goals. Furthermore, we have establishedthematic working groups under the ESG Committee, such as those on the environment and human rights, to study and share information on measures thatneed to be taken across functions.
The ESG Officer reports to the Group Executive Committee and the Board of Directors on the implementation status of the sustainability strategy as well as
outcomes and attendant challenges. We thus ensure that a proper and appropriate sustainability strategy is implemented based on the guidance and adviceof the Executive Committee and the Board of Directors.

Sustainability Governance System

9

ESG Strategy

Company Strategy
Formulation of a new Company Strategy focused on“what lies ahead” of transformations to date toward our growth as a global MedTech company

Olympus announced the corporate transformation plan “Transform Olympus” alongside the Corporate Strategy in 2019. In the three years which followed
this, we achieved significant transformations in all aspects of our business structure, organizational and operational model, employee awareness, corporate
culture, and other relevant areas. As a result, our adjusted operating margin has significantly improved from its level of 9.2% in FY2019*, to 20.0% in
FY2023.
Based on these transformations, in May 2023, Olympus announced a new company strategy toward achieving further growth as a global MedTech company.
Going forward, in the new stage of “Shift to Grow,” we aim to further solidify our growth trajectory by focusing on areas of disease which will be mostconducive to Olympus demonstrating its best values, as well as by investing in the cultivation and development of new products and technologies that willcontribute to improvements in healthcare standards. In addition, Olympus are focusing on quality assurance (QA) and Regulatory Affairs (RA), providing our
high-quality products and services in line with long-term strategies, and striving to achieve sustainable business growth and increase corporate value, withpatient safety set out as our foremost priority, and will thereby work actively to enhance the trust invested in us by our stakeholders.
* Includes adjusted operating margin from the Scientific Solutions Business/Imaging Business.

Positioning of ESG in the New Company Strategy
Olympus sets out “patient safety and sustainability,” “innovation for growth,” and “productivity” as our three priorities under the new Company Strategy. We
will endeavor to build a strong and sustainable organization by working with regulators and stakeholders to remain a company with integrity andtransparency. We will meanwhile actively aim to contribute to the realization of Our Purpose, namely of: “Making people’s lives healthier, safer and more
fulfilling,” in order to become a leader in the healthcare industry as well as in ESG.
We have positioned the promotion of ESG as a key item among our priority initiatives, and will enhance the affinity and consistency between our ESG
Strategy and Olympus’s company strategy, business strategy, and functional strategy to levels greater than previously seen.

Guiding Principles

Company Strategy
Value Creation Model (PDF: 142.5KB)

10

Materiality Topics at Olympus

Process for Analysis and Identification of Focus Areas and Materiality Topics
In conjunction with the formulation of the new Company Strategy, we reviewed and adjusted our ESG Strategy. In the review of materiality, we identified Six
Focus Areas and 25 Materiality Topics falling under these Focus Areas, based on fresh input from our stakeholders, societal expectations and requirements,
trends within the MedTech industry, and analyses of risks and opportunities from the perspective of sustainability*.
In the process of identifying these 25 Materiality Topics, mapping of these topics onto the two axes of “importance to stakeholders” and “impact on Olympus's
business (importance to Olympus)” is carried out, with Olympus then assigning these to three levels of priority: Top Priority, High Priority, and Others.
KPIs have been set for those Materiality Topics that have been positioned as particularly important Top Priority topics, with progress towards theirachievement being actively managed. Progress statuses and new initiatives will also be actively discussed at ESG Committee and Board of Directors
meetings.
* The existing six important ESG areas and five materiality items were realigned into Six Focus Areas.

Materiality Matrix

Six Focus Areas and 25 Materiality Topics
The Six Focus Areas and 25 Materiality Topics are integral to Olympus’s corporate and business activities, and we will actively contribute to the resolution ofa wide range of social issues through our activities related to these areas.

ESG Strategy Structure11Six Focus Areas

List of Respective Materiality Topics by Focus Area
We have established KPIs for each of the items positioned as Top Priorities, and are managing our progress toward achieving these.

Six Focus Areas/25 Materiality Topics/Three Priority Categories

12

13

Contributions to Society through Our Medical BusinessThis section presents examples of Olympus’s contributions to society through its medical business.
Contributing to Society through Medical BusinessThis section gives an overview of Olympus's activities in the medical business, including technology development to enable early diagnosis and minimallyinvasive treatments using endoscopy, and support for the training of physicians.
Elevating the standard of careThis section presents Olympus's initiatives to elevate standards of healthcare, including educational support for healthcare professionals.
For the Benefit of Patients
This section presents initiatives to improve patient care pathways (prevention to recuperation).
Facts & Figures
This section presents various data illustrating the features and characteristics of Olympus.
Global Healthcare Data (PDF: 131.0KB)
This PDF compiles and makes publicly available healthcare data, including case numbers for cancers and other diseases.

14

Participating in External Initiatives

Commitment to External Initiatives

UN Global Compact
In October 2004, Olympus joined the UN Global Compact, agreeing to uphold its 10 principles.
The Global Compact is a voluntary initiative to create a global framework within which companies can contribute to good
corporate citizenship and sustainable growth through responsible and creative leadership.
The 10 principles of the Global Compact are incorporated into our Olympus Global Code of Conduct and related policies,
and are reflected in our business activities.
Olympus has supported initiatives on climate change as a signatory to the Global Compact’s “Caring for Climate.”
In addition, Olympus has expressed its support for the Global Compact Network Japan’s “Tokyo Principles forStrengthening Anti-Corruption Initiatives” and participates in subcommittee activities by topic.

Task Force on Climate-related Financial Disclosures
The Financial Stability Board created the Task Force on Climate-related Financial Disclosures (TCFD) to
improve and increase reporting of climate-related financial information including risks and opportunities. In
April 2021, Olympus announced that it would endorse the final recommendations issued in June 2017 by
TCFD.

15

External Evaluation

External Evaluation Regarding ESG *As of December 2022

Selected for Inclusion in ESG Indexes
Dow Jones Sustainability World Index (two consecutive years from 2021)
Dow Jones Sustainability Asia Pacific Index (four consecutive years from 2019)
FTSE4Good Index Series
FTSE Blossom Japan Index
FTSE Blossom Japan Sector Relative Index

External Evaluation Regarding ESG
Obtained a A- rating in the climate change survey and a B rating in the water security survey by CDP Worldwide, an international NGO that aims at therealization of a sustainable economy (2022 for Olympus).
Selected by CDP as a CDP 2022 Supplier Engagement Leader, the highest rating in the Supplier Engagement Rating (SER), which evaluates how
effectively companies are working with their suppliers to address climate change challenges (two consecutive years since 2021 for Olympus).
Listed in White 500, the Certified Health & Productivity Management Organization Recognition Program (seven consecutive years since 2017 for Olympus
and 2021 for Olympus Marketing).
Listed in the Certified Health and Productivity Management Organization Recognition Program (three consecutive years since 2021 for Aizu Olympus andin 2020, 2022, and 2023 for Olympus Marketing).
Received Platinum Kurumin certification from the Ministry of Health, Labour and Welfare as a company with excellent initiatives to combine work andchildcare and to promote ongoing initiatives (Olympus in 2022, and Olympus Terumo Biomaterials in 2021).
Received Kurumin certification from the Ministry of Health, Labour and Welfare as a company with excellent initiatives to combine work and childcare(Olympus Marketing in 2020, and Aizu Olympus 2022).
Received Eruboshi certification from the Minister of Health, Labour and Welfare as a company that actively promotes female workers (Eruboshi Grade 3
for Olympus in 2019).
Olympus has established a dedicated consultation office in Japan to promote understanding and support for sexual minorities. Furthermore, we are
implementing e-learning programs and ALLY activities led by volunteers to promote the understanding of LGBTQ issues. As a result of these activities, we
received a "Silver" certification in the "PRIDE Index 2022," an evaluation index for LGBTQ initiatives in Japan.

16

17

Environmental Policy and Strategy

Basic Approach and Policy

Promotion Structure

Mechanisms and Initiatives

Environmental Education and Awareness Activities

Basic Approach and Policy
The Olympus Group's environmental initiatives are founded on its Corporate Philosophy, the Olympus Global Code of Conduct and the Environmental Healthand Safety Policy*. The Olympus Global Code of Conduct sets out our policy on the environment and the actions required. The objectives are described withclarity and detail in the Environmental Health and Safety Policy.
* In May 2015, we published the Olympus Group Environmental Policy. This was based on the Olympus Group Environmental Charter adopted in August 1992, to which we added
aspects on both environmental protection and economic growth. This Environment Policy was then converted into the Environmental Health and Safety Policy in April 2021, byincorporating environmental health and safety policies to comprehensively manage our EHS activities.

Environmental Health and Safety Policy

Promotion Structure
In the Olympus Group, the CEO and the CHRO (Chief Human Resources Officer) are appointed as the top executive officers for the environment. Also, the
Human Resources Head, who manages human resource development and general affairs including matters related to the environment, health and safety(EHS), serves as the top management for environmental affairs for the entire Group. Under the Environmental Health and Safety Policy formulated by the
Human Resources Head, the EHS division plans and implements environmental measures and monitors environmental initiatives across the entire Group,
such as the progress of energy reduction targets and implementation status of environmental measures.
We have environmental management divisions for each business division and Group company. The EHS division is responsible for environmental
management for the entire Group. Since FY2015, the EHS division has created an information platform for the entire Group to enable efficient gathering of
information on environmental initiatives at various global sites that are essential to environmental management, as well as environment-related data and thestatus of these sites in complying with laws and regulations. In FY2021, the Olympus Group obtained ISO 14001 multi-site certification*, which covers 2
group companies in Japan and Asia region, including the EHS division, to reinforce the group's environmental governance and streamline the environmental
management.
* A system in which multiple factories and business offices are certified as a single organization

Environmental Management Structure

Status of Acquiring ISO14001 Certification in Olympus Group (As of August 2023)

Sites/OfficeJapan

Olympus Corporation

Ishikawa Facility

Date of certification

Multisite

Site Single

acquisition

Certification

Certification

March 2000◯

18

Date of certification

Multisite

Site Single

acquisition

Certification

Certification

Utsugi Facility

March 2000◯

Nagano Facility (Tatsuno)

February 1998◯

Nagano Facility (Ina)May 2014◯

Shirakawa Facility

October 1998◯

Ishikawa Facility

March 2000◯

Utsugi Facility

March 2000◯

Hinode Plant

July 1998◯

Nagano Olympus Co., Ltd.

February 1998◯

Aizu Olympus Co., Ltd

October 1998◯

Shirakawa Olympus Co., Ltd

October 1998◯

Aomori Olympus Co., Ltd

November 1998◯

August 2020◯

Sites/Office

Olympus Medical Systems Corporation

Olympus Terumo Biomaterials Corp.
Americas

Mishima Plant & R&D Center

Olympus Surgical Technologies America National Service Center West

December 2005◯

Olympus Corporation of the Americas

September 2019◯

September 2019◯

May 2001◯

March 2002◯

Algram Group Ltd.

January 2007◯

Olympus Iberia S.A.U.

September 2018◯

GuangZhou Branch, Olympus Trading (Shanghai) Co., Ltd.

October 2004◯

Olympus Trading (Shanghai) Limited

February 2012◯

Olympus Vietnam Co.,Ltd.

April 2013◯

Olympus Australia Pty Ltd

August 2017◯

Olympus New Zealand Limited

August 2017◯

Center Valley Pennsylvania Regional Headquarters
Breinigsville Pennsylvania Distribution Center
Olympus Surgical Technologies America
Bartlett Tennessee Manufacturing Facility
Brooklyn Park Minnesota Manufacturing Facility
Redmond Washington Manufacturing Facility
Europe/Middle East

Olympus Winter & Ibe GmbH
Hamburg Manufacturing Facility
Teltow（Berlin）Manufacturing Facility
KeyMed (Medical & Industrial Equipment) Ltd.
Southend-on-Sea Manufacturing Facility
Bolton Manufacturing Facility

Asia PacificMechanisms and Initiatives

Long-term Targets and Measures
19

The Olympus Group is fully aware that the recent climate change and ecosystem deterioration, brought about by excessive environmental impact andpollution, is an issue we need to address promptly. In May 2021, we added "carbon neutral society and circular economy" to the materiality items. We also
set ambitious targets of achieving carbon neutrality*1 with respect to greenhouse gas emissions from our site operations (Scope 1 and 2*2) by 2030 andusing electricity generated 100% from renewable energy for our site operations by 2030. In addition, in May 2023, we formulated and announced a target ofachieving net zero*3 greenhouse gas emissions throughout the entire supply chain (Scope 1, 2, and 3*2) by 2040.
To achieve this target, we continue to improve production efficiency and implement further energy-saving measures, as well as gradually replacing theenergy used in our site operations*4 with renewable energy sources by 2030. We are accelerating initiatives to reduce greenhouse gas emissions. We also
recognize the importance of environmental impact reduction across the supply chain and continuously implement measures to develop environmentallyconscious products, improve logistics efficiency, set voluntary reduction targets in cooperation with suppliers, and support decarbonization initiatives.
*1 Carbon neutrality refers to reducing greenhouse gas emissions from site operations (Scope 1 and 2) and offset an amount equivalent to the remaining greenhouse gas
emissions using carbon offsets, thereby achieving zero emissions overall.
*2 Scope 1: Direct greenhouse gas emissions by combustion of fuels in our sites.
Scope 2: Indirect greenhouse gas emissions from our sites use of electricity, heat or steam supplied by other companies.
Scope 3: Other, indirect emissions of greenhouse gas emissions (excluding Scope 1 and 2).
*3 Net zero means reducing greenhouse gas emissions (Scope 1, 2, and 3) as much as possible (at least 90%) in line with the latest climate science (1.5°C scenario) and using
credits derived from carbon sequestration and removal (such as afforestation and CO2 capture and storage) for an amount equivalent to the residual greenhouse gas emissions(less than 10%) to achieve a balance.
*4 Excluding rental properties, such as sales sites.

Major Environmental Activity Results in Fiscal 2023

Primary Policy

TargetMeasures

Achievements andResults

FY2024 Target

Promotion of

Enhancement of

Improve effectiveness

Development of long-

Setting of 2040 net

Formulation of a plan toenvironmental

environmental

and efficiency of theterm environmental

zero target (Scope 1,

reduce greenhouse gas

management

governance

Environmental

targets to reduce

2, and 3)

emissions throughout

systemManagement Systemgreenhouse gas

the supply chain andemissions throughout

implementation of

the supply chain

measures

Maintenance ofMaintenance of ISO

Ensure appropriate

ISO14001 certification

14001 certification forresponse to indicatedglobal major

points in internal

manufacturing sites

environmental audit and(Europe, Americas,

ISO14001 certification

Australia)

external audit

Maintained ISO
14001 multisitecertification of 10
sitesin Japan and 3
sitesin Asia
Conducted internal
auditsforadministrativefuncti
ons of 8 sites inJapanand 2 sites inAsia.
Environmental risk

Continue to improve theEnhance inspection

Inspection on the

Expand target sites for

reduction activities

process to comply withfor compliance statuswaste management

the Environmental/healthenvironmental laws andwith environmental

process andand safety risk

regulations

laws and regulations

operational

assessment

Education forimprovements at eachenvironmental lawssite in Japanand regulations

Education on waste
and chemical
substanceContinue to improve theenvironmental regulatorycompliance process for
products and facilities

management at
Olympus SurgicalTechnologies America(138 persons)Continue toimprovethe related20Primary Policy

TargetMeasures

Achievements and

FY2024 Target

Results
internalrules for
products andfacilities

Environmental

Product-related

Create Olympus Eco-

Continue to create

Created new Eco-

Develop

initiative

initiatives

Products

products that are

Products* (3 new,environmentally-

throughout theenvironmentallybringing the total toconscious design

product life cycles

conscious and668)

mechanisms to improvetailored to businesscharacteristics

resource recycling in* Including product creation

product lifecycles

results in past businesses(imaging, scientificsolutions business, etc.)

Facilities-related

Greenhouse gas

Continue toGreenhouse gas

Greenhouse gas

initiativeemissions: achieve

implement

emissions: reduced byemissions: reduce bycarbon neutrality

improvements such

45.7% (compared to the

55% (compared to(FY2031)

as improving

FY2020)

FY2020)

Renewable energy rate:

manufacturing

Renewable energy rate:

Renewable energy rate:

100% (FY2031)

processes, saving of

71.9%

75% Emission recycle

Emissions volume

energy and material

Emissions volume

rate: 85%

intensity: improve by 1%

resources andintensity: improved by

Improve water use

year-on-year

introduction of

0.8%

efficiency (compared toWater use intensity:

renewable energy,

Water use intensity:

FY2023)

improve by 1% year-on-

etc., in accordance

improved by 8.6%

yearwith local
characteristics

Compliance with Environmental Laws and Regulations (FY2023)
Olympus continuously develops and maintains internal rules and regulations adapted to statutory requirements, and trains environmental managers andrelated personnel, as well as monitoring and improving on-site management.
In FY2023, there was one violation and another incident related to environmental laws and regulations, but an appropriate response was implemented andcompleted. There were no lawsuits, fines, or penalties.

Company Name
Olympus Corporation

Content
Leak of treated effluent

Response
Completed reinforcement of effluent pipe
equipment (changed to a stronger material)

Olympus Corporation

The hydrofluoric acid effluent standards were

There was no external release of effluent withbriefly exceeded in effluent.

hydrofluoric acid and operational changes totreat effluent as industrial waste were completed.

Response to Climate Change
The Olympus Group recognizes that climate change is a serious issue that threatens the global environment, as well as having grave implications for thegroup's business activities. Based on this awareness, we announced our endorsement of the Recommendations of the Task Force on Climate-Related
Financial Disclosures (TCFD) in May 2021, as a part of our contribution to building a carbon neutral society and circular economy in our Corporate Strategy.
According to the TCFD's recommendations, the Olympus Group will disclose its climate-related financial information in a timely manner.

Governance
The Olympus Group endeavors to reduce the environmental impact from the entire value chain, including product development, procurement, manufacture,logistics, sales, and repair. Under the CEO and CHRO (Chief Human Resources Officer), who are the highest officers responsible for the environment
including responses to climate change, the Human Resources Head, who manages the environment, health, and safety (EHS) functions, oversees mattersrelated to the environment, health and safety (EHS) for the entire Olympus Group. In addition, an officer responsible for ESG (Environment, Social andGovernance) was appointed and set targets for the ESG field including greenhouse gas emissions in the medium- to long-term business plan to promote
ESG initiatives by the Olympus Group.

21Under the Environmental Health and Safety Policy formulated by the Human Resources Head, the EHS division created an environmental action plan for theentire Olympus Group in line with the ESG targets set in the medium- to long-term business plan, monitors the status of progress of that plan, and makes
continuous improvements. In response to progress reports, the highest officers responsible for the environment (the CEO and CHRO) give instructions forany improvements required. The Board of Directors monitors the status of the implemented climate change measures while receiving related reports asnecessary. Also, to reinforce the commitment of management to the ESGs and climate change initiatives, 20% of the executive officers' performance-based
stock remuneration, a part of our long-term incentive remuneration, is linked to the evaluation results of an external ESG evaluation organization.
Environmental Health and Safety Policy

Strategy
The Olympus Group identifies risks and opportunities related to climate change for the short-term, medium-term, and long-term periods by using scenario
analysis. The influence of climate change on our business activities is analyzed based on the 2-degree scenario: RCP2.6, IEA B2DS (holding the increase in
the global average temperature to below 2℃ above pre-industrial levels) and the 4-degree scenario: RCP8.5 and IEA CPS (where the increase is assumed
to be up to 4℃ above pre-industrial levels), both of which were presented by the International Energy Agency (IEA). We identified that the major risks within
the short-term period (one to five years) would be the suspension of factory operations or breakdown of the supply chain due to natural disasters; and therisks within the medium- to long-term period (10 to 20 years) would be an increase in business costs due to the introduction of carbon taxes and further
tightening of greenhouse gas emissions regulations.
Although such climate change risks could affect our corporate strategy and financial plan, we assume that the scope of influence would be limited. For
example, the geographical location of our factories in terms of natural disasters, such as typhoons, can be classed as a physical risk. We confirmed that ourfactories are at low-risk locations and a business continuation plan for each site was created in case of emergency. As a supply chain risk, the Olympus
Group has experienced closures of sales sites due to typhoons and flooding across the world. Still, the influence was limited. We also expect an increase inoperational costs due to carbon taxes etc. as a transition risk. However, the percentage of energy costs in the factories among overall business costs issmall, and, therefore, the impact on our business will be limited.
As a climate-related change opportunity, we will continue development of environmentally conscious products with energy-saving and other functions, taking
the rising requirement for such products, which contribute to greenhouse gas emissions reduction, as a business opportunity. However, we estimate theimpact from this opportunity on our business will not be so large because the majority of our products are already small with low energy consumption, andthe nature of our products and services are relatively independent from any impact from climate change.
The results of scenario analysis are reflected in the Olympus Group ESG strategy, and each responsible function implements specified measures.

2℃ scenario

Environmental Changes

Risks

Opportunities

Measures

Stronger regulatory action<Transition risks>

Reduction of business costs

Improvements in energy

by energy-saving measuresefficiency

Improvements in market

Wider use of renewablecompetitiveness byenergycarbon tax, carbon

development ofemissions trading andDiversification of suppliers

environmentally conscious

stronger regulatory action

products

for a low carbon society
Increase in procurement
and operating cost* due toon greenhouse gas
emission by various
countries and decline in

4℃ scenario

Rise in temperature andSupport for setting voluntary
greenhouse gas emission

Improvements in evaluation

reduction targets andby stakeholders

decarbonization activities inmarket competitiveness due

collaboration with suppliers

to inability to meet stricter

Environmentally conscious

regulations on reduction ofdesign in thegreenhouse gas emissions

product/service design &from our products

development stage<Physical risks>

increased extreme weather
eventsSupply chain disruption
caused by growing scale ofnatural disasters, such as
typhoons, floods, etc.
(Suspension of deliveries
from suppliers and to
customers due tosuspension of distribution
bases, repair centers andsales branches, etc.)22* The calculated financial influence was approx. 600 million yen/year based on the carbon tax figures in the World Energy Outlook 2020 by the IEA (2020).

Risk Management
During the management strategy and business plan formulation stages, the Olympus Group identifies risks that have the potential to impact the Group’sbusiness and identifies and evaluates those risks that could have significant impacts on business operations. These risks include regulations relating to theenvironment including climate change, technology and other transition risks, and physical risks resulting from natural disasters.
Identified risks are evaluated and prioritized by each organization based on the degree of impact in the case where a risk materializes and the possibility ofoccurrence, and based on the results, we formulate single-year and multi-year business plans to manage the risks. Regarding risks relating to environmental
laws and regulations, the quality control function monitors developments concerning those environmental laws and regulations related to our products, andthe environmental division of each company monitors regulatory developments relating to their business sites, and each periodically evaluates the status ofcompliance, and takes measures as necessary.
To address those risks that could have a particularly substantial impact on business operations, we periodically monitor the status of organizational risk
management and report the results to the Group Executive Committee and Board of Directors. The CEO receives reports on the results of monitoring of thestatus of risk management, and if measures are ineffective, reviews action plans.

Indexes and Targets
The Olympus Group has set targets of achieving carbon neutrality with respect to greenhouse gas emissions from our site oprations (Scope 1 and 2) by
2030 and using electricity generated 100% from renewable energy at our site operations by 2030. In order to contribute broadly to the development of adecarbonized society, we believe that it is necessary to take action concerning not just the Group’s own greenhouse gas emissions, but all greenhouse gas
emissions throughout the supply chain, and in light of this, in May 2023, we set and announced a target of achieving net zero greenhouse gas emissions
throughout the entire supply chain (Scope 1, 2, and 3) by 2040. This target is in line with the high-level goal of 1.5°C set as a challenge target under theParis Agreement.
Achievements during FY2023 include a 45.7% reduction in greenhouse gas emissions compared to FY2020 and a 71.9% introduction rate of electricity
derived from renewable energy. To achieve our targets for 2030, we will improve manufacturing and introduce renewable energy at sites in countries aroundthe world and continuously implement measures to develop environmentally-conscious products, improve logistics efficiency, set voluntary reduction targets
in cooperation with suppliers, and support decarbonization initiatives.
Long-term Targets and Measures
Results

Response to Water Risk
Regarding our water risk management, an issue in which the world is taking a great interest, we confirmed that none of the major development andproduction sites in our Group have water risk that is extremely high. For this analysis, we used water risk assessment tools such the Aqueduct Water Risk
Atlas by the World Resources Institute (WRI), and the Water Risk Filter by the World Wildlife Fund (WWF), which cover water risk in watersheds and thedegree of impact on our operations. Although the influence of water risks on Olympus Group business is low, we are deploying various measures, such as
choosing low water risk locations for business sites, reducing water usage in our business activities, assigning drainage system managers, and regularinspections of drainage water.

Number of Major Sites in Different Risk Levels as Defined by the Aqueduct Water Risk Atlas

Low

Low - Medium

Medium - HighHigh

Extremely High

10

13

2

1

0

Total Water Usage by the Result of Water Risk Evaluation as Defined by the Aqueduct Water Risk Atlas

23

Biodiversity Conservation
There is a concern that the loss of biodiversity will have a serious impact on the global environment and our lives.
The Olympus Group is working to conserve biodiversity, including the management of water use and wastewater and the maintenance of green spaces,
through cleanup, forest conservation activities and tree planting activities in areas surrounding its facilities.
International initiatives such as TNFD*1 and SBTs for Nature*2 intended to preserve the natural capital of the land, seas, fresh water, and atmosphere,
including biodiversity are currently being investigated and are expected to spread worldwide in the future. The Olympus Group is taking action in line withthese trends by identifying risks and opportunities relating to natural capital and investigating responses.
*1 Task Force on Nature-related Financial Disclosures. An international organization that develops frameworks for appropriately assessing and disclosing risks and opportunities
relating to natural capital and biodiversity in corporate activities. (Source: Ministry of the Environment)*2 Science Based Targets for Nature. Measurable, actionable, and time-bound objectives relating to the interconnected systems of water, biodiversity, land, and oceans in value
chains based on the best available science that allow actors to align with Earth’s limits and societal sustainability goals. (Source: Ministry of the Environment)

Green Procurement
Olympus published the "Olympus Group Green Procurement Standard" in 2001.
The Green Procurement Standard, which is also posted on our website, explains the Olympus Group's approach to its environmental activities to all
suppliers.
In addition, in our corporate survey that we conduct once a year targeting major suppliers around the world with whom we have ongoing business, we verify
whether the suppliers have acquired ISO 14001 certification, reduced greenhouse gas emissions, water use and waste, and what measures they have taken
against chemical substances.
In this way, we are working to raise the level of our environmental activities with suppliers.

Olympus Group Green Procurement Standard

Environmental Education and Awareness Activities
The Olympus Group recognizes the importance of greater environmental awareness by each and every employee and full participation in environmental
activities under the Environmental Health and Safety Policy. We are running more environmental awareness activities such as the Olympus Environment
Day, a global group-wide event. In FY2022, as part of our Olympus Environment Day initiatives, an environmental e-learning program was conducted
involving all Group employees, to promote group-wide awareness of important environmental issues, such as climate change, in working toward the longterm target of carbon neutrality, and the state of environmental activities throughout the Group. We held events adapted to regional characteristics topromote environmental awareness in our major sites with COVID-19 countermeasures implemented.
We have also introduced special training programs to improve our environmental management system and implement it effectively. These include programson compliance with environmental laws and regulations, and ISO 14001 internal audits at facilities around the world, and site-specific environmental elearning based on site conditions.

Major Environmental Education Programs (FY2023)
24

Classification

TargetMain Content

Basic education

Recent graduate and mid-

Fundamental environmental education at the time of hiring recent graduate and mid-career

career employees

employees (to gain understanding of environmental issues, corporate responsibility, andOlympus’ environmental initiatives)

Japan: 136 participantsAmericas: 50 participants
China: 31 participants
All employees

Environmental e-learning in line with World Environment Day (to gain understanding ofsocial demands for environmental conservation and Olympus’ environmental initiatives)

Japan: 11,505 participants (environmental e-learning texts were distributed and areused in the Americas, Europe, and Asia)
General environmental education for employees

Japan (implemented at manufacturing and sales sites): 4,278 participants
Professional education

Environmental Managers /To understand responsibilities and roles of the Environmental Managers and theEnvironmental Secretariat

Environmental Secretariat (compliance with environmental laws and regulations, key points
for establishing effective EMS, etc.): 4 participantss

Target employees

Specialized environmental education for personnel who perform environmental work (toenhance knowledge and skills relating to prevention of pollution, waste management,chemical substance management, and other topics)

Japan: 1,108 participantsAmericas, Europe, Asia: Implemented at manufacturing sites

25Reduce Environmental Impact

Energy/Atmospheric Release

Water/Emission

Product Life Cycle Assessments

Examples of Environmentally Conscious Products

Basic Approach
The Olympus Group is implementing a variety of environmental activities while assessing the environmental impact of its business activities with precision
and with awareness of the scale of the impact on and risk to the environment. Also, following the diversification in our suppliers and with an awareness ofclimate change as a major environmental issue impacting our business activities, we continue to implement measures to assess information on energy
conservation and regulations on reducing greenhouse gas emissions and responding to sudden flooding damage. At the same time, we actively develop andmarket environmentally conscious products that contribute to resolving issues with climate change and water risk.

Initiatives* Figures for each fiscal year are calculated using figures from the Medical Business (excluding the imaging business and scientific solutions business) only, including past
information.) only, including past information.

Material Balance（FY2023）
Resource and Energy Input

Business

Discharge of Environmentally Harmful Substances

Activities

Energy (Total)

271,527 MWh (-0.2%)★

Development

Greenhouse Gases (Total)

46,341t-CO2e (-39%)★

andElectric

37,515MWh (-62%)★ Gasoline

3,956kL (-10%)★

power
City gas

5,322 thousand m3 Hot water

Manufacturing

CO2 generated from energy

46,338t-CO2e (-39%)★

CO2 not generated from energy

1,512GJ (-34%)★

3t-CO2e (93%)★

(-1%)★
LPG

1,360t (-2%)★ District heat

LNG

2,280MWh (0%)★

0t (-100%)★ Green electricity

Substances Emitted

95,488MWh(227%)★

Heavy fuel200kL (-1%)★ Solar power

oil

620MWh (18%)★

[internal]

Kerosene

32kL (-11)★ Solar heat

382GJ (-16%)★

[internal]
Diesel fuelNOx

26t (-41%)

SOx

0.3t (-1%)（Research）
Development
Chemical Substances (PRTR substances

814kL (-6%)★

emitted and transferred)

10.6t(-10%)* Production sites in Japan only
Chemical Substances [PRTR Substances
Handled]31t(-13%)* Production sites in Japan only

Production

Discharge to Water Systems(Total)707 thousand m3 (7%)★

Water (Total)

Piped water

336 thousand m3 (17%)★

Ground water

371 thousand m3 (0%)★

707 thousand m3(7%)

Water discharged (public waters)

242 thousand m3 (-1%)

Water discharged (sewage)

465 thousand m3 (12%)

BOD（t）

Discharge (Total)

0.8t (14%)

5,311t (17%)★

Raw Materials and Sub-Materials * Production sites inJapan only

Amount recycled

4,362t (13%)★

Other waste

949t (40%)★

Metal:

Steel, alminium, brass

Landfill

220t (137%)★

Plastics:

Optical plastics, ABS, PC, polyethylene, polypropylene

Hazardous waste

207t (10%)★

Office Supplies

CO2 Emissions during

50,543t-CO2e

Transportation (Total)

(31%)

26

Resource and Energy Input

Business

Discharge of Environmentally Harmful Substances

Activities
Copy paper

Sales and

143t (-12%)

Logistics
Logistics

Transporation Fuel
Transportation:

Product Shipments

Gasoline, diesel fuel, etc.

Main products (Total)
Packaging Materials (Total)

905t(9%)Cardboard

514t (12%)

Paper

188t (6%)

Plastic

180t (5%)

Metal

0t (0%)Glass

0t (0%)

Others23t (-12%)

27,302t (9%)

Sales

Repair and Service

Note: Percentages in parentheses indicate changes from the same period of the previous year.
★ Indexes certified by external assurance.

Energy/Atmospheric Release

Internal (Scope 1, 2) Results
FY2023 Targets

FY2023 Results

Main Measures

FY2024 Targets

Greenhouse gas emissions:Greenhouse gas emissions:

Ongoing implementation of manu

Greenhouse gas emissions: reduce

achieving carbon neutrality

reduced by 45.7% compared tofacturing improvement activitiesby 55% compared to FY2020(FY2031)

FY2020Introduction of energy saving eq

Renewable energy rate: 100%

Renewable energy rate: 71.9%(FY2031)

uipment

Renewable energy rate: 75%

Ongoing implementation of ener
gy-saving activities on a daily basis, including switching off lights
and adjusting air-conditioning temperatures
Introduction of environmentally conscious cars
Effective use of renewableenergyIn May 2021, the Olympus Group set a target of achieving carbon neutrality for greenhouse gas emissions from its site operations (Scope 1 and 2) by 2030.
While continuing to promote manufacturing improvement activities and energy-saving measures, we are working to reduce greenhouse gas emissions bypromoting the introduction of renewable energy at our operation sites. In addition, at sites where energy use is high, we are promoting initiatives byappointing our own experts and establishing a system to promote energy conservation.
In FY2023, continual improvements in manufacturing, energy-saving measures, updates company cars to environmentally conscious cars and the use ofrenewable energy were implemented at its sites around the world. Aomori Olympus installed static electricity removal sheets in its air conditioning equipment
to improve operating efficiency and is taking action to reduce energy losses by installing air flow meters to identify air leaks and implementing
countermeasures. KeyMed (Medical & Industrial Equipment) Ltd. in Europe switched some of its company vehicles used for sales activities to electricvehicles.
In April 2022, we converted 100% of the electricity used at major development and manufacturing sites in Japan (10 sites) to electricity derived fromrenewable energy sources. Also, Olympus Terumo Biomaterials Corp. introduced and started operation of solar power generating facilities under a Power
Purchase Agreement (PPA) in February 2023 and converted 100% of the electricity it uses to electricity derived from renewable energy sources in April 2023.
In the Americas, Olympus Surgical Technologies America (Gyrus ACMI, Inc.) converted 100% of the electricity it uses at its Redmond site to electricity
derived from renewable energy sources in April 2023.
When building new sites or renovating existing sites, Olympus constructs structures that take the environment into consideration. In Europe, Olympus
Medical Products Portugal, Unipessoal LDA, constructed a new building at its medical repair site and installed energy-saving lighting, air conditioning, andother equipment and introduced electricity derived 100% from renewable energy sources.

27

For broader use of renewable energy, studies are focusing on widespread adoption, economic feasibility and other factors in each country. The renewableenergy use rate vis-á-vis the total electric power consumption increased substantially to 71.9% (compared to 23.3% in the previous year).
Olympus Corporation participates in the Carbon Neutral LNG Buyers Alliance as a part of new initiatives to reduce greenhouse gas emissions, and has
started to introduce carbon neutral LNG*1 to the Hachioji Facility.
*1 Carbon neutral LNG: A type of LNG that offsets greenhouse gases generated in the processes from the extraction to the burning of natural gas with carbon credits created byenvironmental conservation projects.

Carbon Neutral LNG (Only in Japanese)

Solar power generating facilities at Olympus Terumo Biomaterials

Green Energy Certificates

Olympus Europa SE & Co. KG (Germany)
KeyMed (Medical & Industrial Equipment) Ltd. (UK)

Algram Group Ltd. (UK)Olympus Surgical Technologies America: Bartlett

Olympus Medical Products Portugal, Unipessoal(Gyrus ACMI, Inc.) (USA)LDA (Portugal)
Olympus Surgical Technologies America: Redmond(Gyrus ACMI, Inc.) (USA)Logo for the Carbon Neutral LNG

28

Greenhouse gas emissions/intensity (Scope 1, 2)★ Indexes certified by external assurance.

External (Scope 3) Results
The Olympus Group ascertains and calculates greenhouse gas emissions throughout the entire supply chain for each category and is taking action to reducegreenhouse gas emissions in the entire supply chain through green procurement, improvement of logistical efficiency, development of environmentallyconscious products, and other measures. These efforts have been highly evaluated, and Olympus was selected by CDP,* an international non-profit
organization, as a CDP 2022 Supplier Engagement Leader, the highest rating in the Supplier Engagement Rating (SER). This was the second consecutive
year in which Olympus was selected.
Scope 3 greenhouse gas emissions account for approximately 90% of all Olympus Group supply chain greenhouse gas emissions (Scope 1, 2, and 3) andare vastly higher than the emissions from its site operations (Scope 1 and 2). Among Scope 3 emissions, the percentages from purchased goods andservices (category 1), capital goods (category 2), and upstream transportation and distribution (category 4) are high.
In FY2023, we address purchased goods and services (category 1) by analyzing and evaluating the impact of CO2 for each supplier with which we dobusiness and requested the cooperation of suppliers in Japan with measures to set environment targets with the aim of achieving carbon neutrality (targets
in line with the 1.5°C target of the Paris Agreement) and curtail greenhouse gas emissions. In the future, we will continue our efforts to ascertain and manage
greenhouse gas emissions throughout the supply chain and collaborate with suppliers to set voluntary reduction targets, support decarbonization efforts, andreduce greenhouse gas emissions.
* CDP is an international non-profit organization founded in the United Kingdom in 2000. CDP collects, analyzes and evaluates information on the environmental activities of major
companies around the world, and discloses the results of these to institutional investors

29

Greenhouse Gas Emissions (Scope 3)★ Indexes certified by external assurance.

Category 4: Upstream Transportation and Distribution Results
FY2023 Results

Main Measures

Greenhouse gas emissions: increased by: 25.1% (compared to FY2020)

Enhanced loading efficiency by improving packaging size and strength
Reduced transportation weights by improving packing and packaging
methods
Shortened lead times and transportation distances by improving logistics
routesThe Olympus Group is engaged in reducing logistics-related greenhouse gas emissions at each of its sites. We continue with improvements, including
optimizing the loading efficiency of transportation containers by products type and shape, consolidating logistics sites for transportation efficiency and direct
shipping by reviewing logistics routes. In FY2023, greenhouse gas emissions rose due to increased transportation of products in conjunction with higher
sales, but we were able to reduce greenhouse gas emissions generated during transportation by switching some of the air and charter flights used fordomestic transport to JITBOX charter flights* and taking other measures.
* JITBOX Charter Service: A service that allows customers to request pallets of roll box cargo and combine them with other companies' cargo for transportation at a high loadingrate.

ESG Data

Water/Emission

Water Use/Wastewater Results
FY2023 Targets

FY2023 Results

Main Measures

FY2024 Targets

Water use intensity: improve by 1%

Water use intensity: improved by

Improvements in water use

Water use efficiency: improvecompared to FY2022

8.6% compared to FY2022

processes

compared to FY2023

Implementation of measuresagainst water leakage during
equipment inspections30

FY2023 Targets

FY2023 Results

Main Measures

FY2024 Targets

Implementation of secondary useof water

The Olympus Group uses water mainly in production processes, such as for cleaning components and cooling, as well as in its dining halls. We implement
thorough wastewater control by adopting stricter standards than the legal requirements in each region, and we continue to reduce water consumption andwastewater emissions by setting targets in those sites that have high water consumption. We are also acting to conserve water resources undercollaborations with local communities at each site.
In FY2023, we assessed the water risks at each of our sites using water risk assessment tools (e.g. Water Risk Filter, Aqueduct), hazard maps, and theirwater usage. In Japan, our Nagano Facility makes effective use of waste water from the purification of deionized water by collecting it for secondary use in
the manufacturing process, the Shirakawa Facility has reduced water consumption by shortening the time required for washing with hot running water after
surface treatment in the manufacturing process; and Aizu Olympus has reduced water consumption in the painting process by changing the cleaning processfrom small lot processing to batch processing and introducing water-saving shower washing machines in a separate process. KeyMed (Medical & Industrial
Equipment) Ltd. in Europe purifies and reuses water from the painting process.
At our Nagano Facility, with the consent of the local fishery cooperative, wastewater is continuously monitored, and regular inspections of water treatment
facilities are carried out to ensure strict water management so as to minimize the impact on the ecosystem. The Nagano Facility also helps maintain the local
forest that serves as a water source for the area under a Forest Fostering Agreement concluded with the Monzen Forest Association and Tatsuno Town in
Nagano Prefecture. Olympus Surgical Technologies America (formerly Gyrus ACMI, Inc.) in the U.S. received a Gold Award* in recognition of long-timeefforts to maintain compliance with the industrial wastewater discharge permit requirements set by King County, Washington.
To preserve water resources, wastewater is continuously monitored and regular inspections of water treatment facilities are carried out at our Nagano Facility
with the consent of the local fishery cooperative to ensure strict water management so as to minimize the impact on the ecosystem. The Nagano Facility also
helps maintain the local forest that serves as a water source for the area under a Forest Fostering Agreement concluded with the Monzen Forest Association
and Tatsuno Town in Nagano Prefecture. Olympus Surgical Technologies America (formerly Gyrus ACMI, Inc.) in the U.S. received a Gold Award* for thesecond consecutive year in recognition of long-time efforts to maintain compliance with the industrial wastewater discharge permit requirements set by KingCounty, Washington. In Europe, Olympus Medical Products Portugal, Unipessoal LDA introduced a water treatment system for industrial wastewater andreuses all treated water to water gardens to effectively use water resources.
* Presented to companies that have met the standard of the Gold Award set in the program of industrial wastewater discharge permit requirements by King County, Washington.

Commitment-to-Compliance Award

Water Use

★ Indexes certified by external assurance.

Water UseESG Data

Wastewater Results
31

ESG Data

Emission Results
FY2023 Targets

FY2023 Results

Main Measures

FY2024 Targets

Emission intensity: improve by 1%

Emission intensity: improved by 0.8%

Reduction of process defects

Emission recycling rate: at least

compared to FY2022

compared to FY2022

Promotion of recycling by

85%

thorough separation
Promotion of reusing package
materials
Extracting valuable materials
from wastes

The Olympus Group is working continually on reducing losses in manufacturing processes by making improvements to them and efficient use of resources,
including thorough waste separation to reduce waste discharge, extract valuable materials and promote recycling.
In FY2023, paper usage was significantly reduced at our development sites and offices due to digitalization associated with increased remote working
progressed by our Work Style Reform. In Japan, we are working to reduce the amount of corrugated cardboard used by making products without packaging,
reduce waste by using returnable containers and expand the reuse of cushioning materials. The Olympus Medical Systems’ Hinode Plant is converting
production equipment into valuable resources at the time of disposal, and when the building at the Hachioji site in Tokyo was refurbished, excess fixtures
were donated to a non-profit organization, thereby promoting the effective use of resources. Olympus Surgical Technologies America Inc. provides an intracompany awareness raising program to help employees increase the recycling rate, and at the Bartlett sites, PPE waste (personal protective equipmentused at medical facilities, etc.) is now being recycled. In addition, the Bartlett site signed up to the "Tennessee Recycling Coalition"* to explore new ways ofrecycling, develop and expand the reuse and recycling market, and continue to study ways to further reduce waste. In Europe, Olympus SurgicalTechnologies Europe is reducing waste by promoting recycling of paper towels.
In FY 2023 hazardous waste emissions increased by 10% compared to the previous fiscal year due to higher production at sites in various countries aroundthe world as well as higher usage of cleaning agents and other materials during production and repair processes in conjunction with the start of operations at
a new repair site in Europe, but we are transitioning to the use of safe chemical substances and properly managing waste at each site.
* Tennessee Recycling Coalition: A non-profit organization dedicated to promoting recycling and sustainable materials management practices in Tennessee, U.S.

Recycling of PPE waste (personal protective equipment at medical sites, etc.)

Emission/Landfill
ESG Data

Hazardous waste discharged
ESG Data

Emission/Landfill32

★ Indexes certified by external assurance.

Chemical Substance Safety and Control
FY2023 Results

Main Measures

Emissions and Movements of PRTR Class 1-Designated Chemical

Substitution of PRTR-designated chemicals with other substances

Substances: Reduced by 36.5%

through material developments(compared to FY2020)

Reduce usage of PRTR-designated chemical substances

The Olympus Group is striving for appropriate management and emissions reduction of chemical substances subject to the PRTR regulations and volatileorganic compounds (VOC) in order to minimize the impact on people and the environment.

Emissions and Movements of PRTR Class 1-Designated Chemical Substances

Emissions and Movements of

FY2019FY2020

FY2021

FY2022

FY2023

15.9

16.7

12.9

11.8

10.6

FY2019FY2020

FY2021

FY2022

FY2023

65.9

67.3

39.0

41.1

44.7

PRTR Class 1-DesignatedChemical Substances* Scope: Manufacturing and development sites in Japan

Volatile Organic Compound (VOC) Emissions

Volatile Organic Compound (VOC) Emissions (t)* Scope: Manufacturing and development sites in Japan

Product Life Cycle Assessments
The Olympus Group works to develop products and production technologies that show consideration for safety and for the environment. Having in FY2004
established its Eco-Products Administration Rules, a voluntary standard relating to the environmental considerations of our products, we continue to certify
our products as Olympus Eco-Products.
In addition, a life cycle assessment (LCA) is performed at each stage of a product's life cycle to assess its impact on the environment at the productdevelopment stage and from procurement through manufacture, distribution, use and final disposal. Clarifying the environmentally conscious aspects thatdiffer for each product, we have set them as items for the environmental consideration standard.
We are working to reduce the use of containers and packaging materials, and promoting effective use of resources.

33

Examples of Environmentally Conscious Products
Olympus Eco-Products created in FY2023 are presented.

EVIS EUS ENDOSCOPIC ULTRASOUND CENTER OLYMPUS EU-ME3< Main Product Features >1. Focused on your expertise
2. Improved diagnostic imaging
3. Seamless integration
4. Simplicity of use
5. Customizable to your needs< Environmentally Conscious Aspects >EVIS EUS ENDOSCOPIC ULTRASOUND CENTER
OLYMPUS EU-ME3

Standard power consumption is approximately 10% lower compared to earlier models.

34

Environmental Communication

Initiatives
The Olympus Group is disseminating environmental information through smooth communication with its stakeholders so that they can have a fuller
understanding of the environmental conservation activities conducted by its employees in local communities.

Environmental conservation activities
The Olympus Group is involved in continuous environmental conservation activities in the local communities where its business sites are located, including
cleanup programs, tree planting and recycling.

Ordinance of the metropolitan government
Based on the Tokyo Metropolitan Government’s Global Warming Countermeasures System, we are pleased to announce the Global WarmingCountermeasures Plan of the Ishikawa Facility.
Global Warming Countermeasures Plan

Olympus Environmental Day
June 5th is “World Environment Day” designated by the United Nations. Olympus has designated June of every year
as “Olympus Environment Month” and has been conducting activities to raise environmental awareness for the past
40 years. In fiscal 2023, Olympus held “Olympus Environmental Day” to be more conscious of cooperation withsociety. With the aim of raising environmental awareness among employees, we conducted global environmental elearning programs, held events to reduce waste and food loss and promote recycling in each region and site, andconducted neighborhood cleanup activities.
In addition, our domestic sites have been continuously contributing to environmental conservation activities of NGOs
and NPOs by collecting unneeded books, CDs, DVDs, and other items, selling them to outside vendors, and donating
the funds. In fiscal 2023,a total of 95,998 yen, including a matching gift from the company, was donated to the Japan
Fund for Global Environment operated by the Environmental Restoration and Conservation Agency.

35

Environmental Data

Updated August 21, 2023

*Figures for each fiscal year are subject to change from past disclosures due to revision of definitions, etc.
*Figures for each fiscal year are for the medical business only (excluding the transferred imaging and scientific solutions businesses).
*★ indicates data that has received a third-party warranty by SOCOTEC Certification Japan.
＞Independent Assurance Statement Related to Environmental Data

Material balance
INPUT
Resource/Energy input
Energy [Total] (MWh)Electric power (MWh)City gas (1,000 m3)

FY2023
271,527 ★
37,515 ★

compared toprevious
period(％)
-0.2

-62

5,322 ★
1,360 ★

-1

0 ★
200 ★

-100

32 ★
814 ★
3,956 ★

-11

1,512 ★
2,280 ★

-34

95,488 ★
620 ★

227

382 ★
Chemical substances [PRTR substances handled] (t) *Production sites in Japan only
31

-16

LPG(t)
LNG(t)
Heavy fuel oil (kL)
Kerosene (kL)
Diesel fuel (kL)
Gasoline (kL)
Hot water (GJ)
District heat (MWh)Green electricity (MWh)Solar power [internal] (MWh)Solar heat [internal] (GJ)

Water [Total] (1,000 m3)

-2
-1
-6
-10
0
18
-13

Piped water

707 ★
336 ★

7
17

Ground water

371 ★

0

143

-12

Cardboard

514

12

Paper

188

6

Raw Materials and Sub-Materials *Production sites in Japan only
Metals: Steel, aluminum, brass
Plastics: Optical plastics, ABS, PC, polyethylene,
polypropylene
Office materials (t)Copy paper
Transport fuelTransportation: Gasoline, diesel fuel, etc.
Packaging material [Total] (t)Plastic

180

5

Metal

0

0

Glass

0

0

Others23-12★ Indexes certified by the Assurance Statement.

36

OUTPUT
環境負荷物質排出量
Greenhouse gases [Total] (t-CO2e)
CO2 generated from energy
CO2 not generated from energy

FY2022
46,341 ★
46,338 ★

compared toprevious
period(％)
-39

-39

3 ★

93

NOx

26

-41

Sox

0.3

-1

Substances Emitted (t)Chemical substances [PRTR substances emissions/movement] (t) *Production sites in10.6
Japan only

Discharge to water system [Total] (1,000 m3)

-10

707

7

Water discharged (public waters)

242

-1

Water discharged (sewage)

465

12

BOD（t）

0.8

14

5,311 ★
4,362 ★
949 ★

13Discharge [Total] (t)Amount recycled
Other waste
Landfill
Hazardous waste
Total CO2 for transportation (t-CO2e)

17
40

220 ★
207 ★
50,543 ★

137

27,30291031

Product shipments (t)Medical Business [Endoscopes]★ Indexes certified by external assurance.

37

Internal Energy Consumption
FY2019267,365

Consumption (MWh)FY2020274,474

FY2021
281,070

FY2022
272,121

FY2023
271,527 ★

★ Indexes certified by the Assurance Statement.

* Scope: The Olympus Group (small businesses are excluded). Conversion coefficient based on Enforcement Regulation for the Act on the Rational Use of Energy

Renewable Energy Consumption
FY201917,285

Renewable Energy (MWh)FY202026,670

FY2021
26,917

FY2022
29,830

FY2023

FY202050,354
19,051
173
2,252
163
12,22443,723
127,940
117,163701
2,000
25,955533
182
146,534
274,474

FY202163,546
20,299
173
2,234
163
9,387
37,078132,880
118,522797
1,954
26,216518
183
148,190
281,070

FY2022
67,257
19,489
22
2,181
368
9,067
42,368140,752
98,395864
2,280
29,177526
127
131,369
272,121

FY2023

96,214 ★

★ Indexes certified by external assurance.
*Scope: The Olympus Group (small businesses are excluded)* Renewable energy includes green electricity, solar power (internal), solar heat (internal) and hot water

Breakdown of Internal Energy Consumption

Direct (MWh)Indirect (MWh)City gas
LPG
LNG
Heavy fuel oil
Kerosene
Diesel fuelGasoline
Subtotal (MWh)Electricity
Hot water
District heatGreen electricity
Solar power [internal]
Solar heat [internal]
Subtotal (MWh)Total (MWh)FY201949,571
18,477
173
2,183
114
12,38445,805
128,707
118,781597
1,995
16,576536
173
138,658
267,365

66,728 ★
19,187 ★
0 ★
2,167 ★
326 ★
8,521 ★
38,018 ★
134,947 ★
37,515 ★
571 ★
2,280 ★
95,488 ★
620 ★
106 ★
136,580 ★
271,527 ★

★ Indexes certified by external assurance.
* Scope: The Olympus Group (small businesses are excluded). Conversion coefficient based on Enforcement Regulation for the Act on the Rational Use of Energy

CO2 Emissions (Scope 1, 2)
Scope 1（t-CO2e）
Scope 2（t-CO2e）
Scope 1＋2（t-CO2e）
Basic unit of consolidated sales (t-CO2e/100 million yen)

FY201927,55756,21883,77513.1

FY202027,304
58,11485,41813.1

FY2021
27,62957,19684,82513.4

FY2022
29,327
46,63675,96310.1

FY202327,967 ★
18,374 ★
46,341 ★
5.3 ★

★ Indexes certified by external assurance. * Scope: The Olympus Group (small businesses are excluded).
*1 Scope 1: Greenhouse gas emission from direct on-site use of fossil fuels. Scope 2: Greenhouse gas emission from on-site secondary use, such as electric power purchase.

CO2 Emissions (Scope 3)
FY201945,203

Logistics (t-CO2e)★ Indexes certified external assurance.

FY202040,413

FY2021
30,559FY2022
38,713

FY2023

FY202027,304
58,11464,23585,41891,539621,882
707,300
713,421

FY2021
27,62957,196
63,727
84,82591,356652,328
737,153
743,684

FY2022
29,327
46,63652,87475,96382,201
669,545745,508
751,746

FY202350543 ★

Scope 3: Category 4 Upstream transportation and distribution

CO2 Emissions for the Entire Supply Chain
Category
Scope 1（t-CO2e）
Scope 2（t-CO2e）
Total (t-CO2e)

Market-based method
Location-based method
Scope 1+2 (Market-based method)
Scope 1+2 (Location-based method)

Scope 3（t-CO2e）
Scope 1+2 (Market-based method)+3
Scope 1+2 (Location-based
method)+3

FY201927,55756,21860,287
83,77587,844640,445724,220728,289

27,967
18,37454,553
46,341
82,520659,891
706,232
742,411

★
★
★
★
★
★
★
★

38

Scope 3

Calculation Method (Assumptions)

1. Purchased goods and services (t-CO2e)

Calculated by multiplying raw materials and parts of leading products bybasic unit

FY2020FY2019Calculated by multiplying facility investment value by basic unit
2. Capital goods (t-CO2e)
3. Fuel and energy related activities (not included in
Calculated by multiplying electric power and fuel purchased by basic unit
Scope 1, Scope 2) (t-CO2e)

FY2021

FY2023

FY2022

413,218

393,385

386,641

459,989

407,989 ★

79,515

92,137

161,951

93,134110,253 ★

15,70016,175

16,41915,66915,727 ★

4. Upstream transportation and distribution (t-CO2e)

Calculated by multiplying transport ton/kg of leading products by basic
unit (including delivery logistics)

45,20340,41330,55938,71350,543 ★

5. Waste generated in operations (t-CO2e)6. Business travel (t-CO2e)

Calculated by multiplying worksite waste output by basic unit
Calculated by multiplying business travel expenses by basic unit

4,031
32,846

4,082
26,761

3,441
3,962

3,315
4,789

3,880 ★
11,733 ★

7. Employee commuting (t-CO2e)Standard commute model defined by region and calculated bymultiplying the number of employees in region by basic unit

10,72010,745

11,888

11,714

11,966 ★

8. Leased assets (upstream) (t-CO2e)

Calculated as Scope 1 and 2 GHG emissions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Classified as transport from dealers and sales companies to the
9. Downstream transportation and distribution (t-CO2e)
customer but excluded due to small impact scale
10. Processing of sold products (t-CO2e)

Excluded due to small impact scale and difficulty in tabulation in thiscategory

11. Use of sold products (t-CO2e)

Calculated by multiplying electric power consumption, etc., for lifetime ofsold product by basic unit

19,611

18,49818,522

19,71523,243 ★

12. End-of-life treatment of sold products (t-CO2e)

Calculated by multiplying product disposal weight by basic unit for wastematerial

19,601

19,686

18,94522,50724,557 ★

13. Leased assets (downstream) (t-CO2e)

Calculation including use of sold products, although some products areleased

-

-

-

-

-

14. Franchises (t-CO2e)

Not calculated due to absence from Olympus group’s business range

-

-

-

-

-

15. Investments (t-CO2e)

Not calculated because there is no investment businesses in Olympus
group

-

-

-

-

-

★ Indexes certified by external assurance.

NOx emissions
FY2019FY202046

NOx emissions (t)FY202146

FY2023

FY202250

2644*Scope: The Olympus Group (excluding small companies)

Sox emissions
FY2019Sox emissions (t)FY20200.3

FY2021
0.3

FY2023

FY2022
0.3

0.3

0.3

*Scope: The Olympus Group (excluding small companies)

Water consumption
FY2019Groundwater (1,000 m3)
Piped water (1,000 m3)
Total (1,000 m3)
Basic unit of consolidated sales (1,000 m3/100 million yen)

FY2020
423
331
754
0.12

FY2021

376
337
713
0.11

FY2023

FY2022
385
274
659
0.1

370
288
658
0.09

371 ★
336 ★
707 ★
0.08

*Scope: The Olympus Group (excluding small companies)

Wastewater
FY2019Public water areas (1,000 m3)
Sewage systems (1,000 m3)
Total (1,000 m3)

FY2020

FY2021

FY2023

FY2022

261
493
754

203
510
713

256
403
659

244
414
658

242
465
707

FY2020
5,587
4,555
1,032
84
0.86

FY2021
4,710
4,015
695
58
0.74

FY2022
4,537
3,860
677
93
0.60

FY2023

5,518
4,596
922
85
0.86

FY2020

FY2021

FY2022

FY2023*Scope: The Olympus Group (excluding small companies)

Emissions/Landfill
FY2019Emissions (t)Amount recycled (t)Other waste (t)Landfill (t)Basic unit of consolidated sales (t/100 million yen)

5,311 ★
4,362 ★
949 ★
220 ★
0.60

★ Indexes certified by external assurance.
*Scope: Olympus Group (excluding small companies)

Hazardous waste discharged
FY2019Hazardous waste discharged (t)

242

234

210

188

207 ★

FY202016.7

FY2021
12.9

FY202211.8

FY202315.9

FY202067.3

FY2021
39.0

FY202241.1

FY202365.9★ Indexes certified by external assurance.
*Scope: Olympus Group (excluding small companies)

Emissions and Movements of PRTR Class 1 Designated Chemical Substances
FY2019Chemical substances (PRTR substances) (t)10.6*Scope: Manufacturing and development sites in Japan

Volatile Organic Compounds (VOC) Emissions
FY2019Volatile Organic Compounds (VOC) Emissions（t）

44.7*Scope: Manufacturing and development sites in Japan39

Olympus Group Site Data
Company/Facility

Location

Ishikawa Facility Hachioji-shi,
*1
Tokyo

Utsugi Facility*1Olympus

Hachioji-shi, Tokyo

Tatsuno-machi,
Nagano Facility
Kamiina-gun,
Tatsuno *2
NaganoNagano Facility
Ina

Tokyo Facility
Sagamihara *3

Ina-shi, Nagano

Sagamihara-shi,
Kanagawa

Japan
Olympus Medical
Hinode Plant
Systems

Hinode-cho,Nishitama-gun,
Tokyo

AizuAizu Olympus

Wakamatsu-shi,
Fukushima

Aomori Olympus

Kuroishi-shi, Aomori

Nishigo-mura,
Shirakawa Olympus

Nishishirakawagun, Fukushima

Olympus Terumo Biomaterials *4

Sagamihara-shi,
Kanagawa

Olympus Corporation of theAmericasPennsylvania,
U.S.A.

Olympus Surgical Technologies
America

Massachusetts,

Americas

Olympus Winter & Ibe GmbH

U.S.A.

Hamburg,
GermanyOlympus Medical Products Czech Olomouc, Czech
spol s.r.o.
Republic
Europe/Middle
East
KeyMed (Medical & Industrial
Equipment) Ltd.

Essex, U.K.

Algram Group Ltd.

Devon, U.K.

FY2023
FY2022
FY2021
FY2020FY2019FY2023
FY2022
FY2021
FY2020FY2019FY2023
FY2022
FY2021
FY2020FY2019FY2023
FY2022
FY2021
FY2020FY2019FY2023
FY2022
FY2021
FY2020FY2019FY2023
FY2022
FY2021
FY2020FY2019FY2023
FY2022
FY2021
FY2020FY2019FY2023
FY2022
FY2021
FY2020FY2019FY2023
FY2022
FY2021
FY2020FY2019FY2023
FY2022
FY2021
FY2020FY2019FY2023
FY2022
FY2021
FY2020FY2019FY2023
FY2022
FY2021
FY2020FY2019FY2023
FY2022
FY2021
FY2020FY2019FY2023
FY2022
FY2021
FY2020FY2019FY2023
FY2022
FY2021
FY2020FY2019FY2023
FY2022
FY2021
FY2020Water
CO2 emissions
Amount recycledconsumption Emissions (t)(t-CO2e)(t)(1,000 m3)
359
649
73
359
246
8,028
68
246
255
7,821
74
255
398
8,620
106
398
385
8,876
99
385
434
454
19
434
417
2,661
20
417
335
2,644
22
335
287
2,878
28
287
264
3,110
28
264
220
1,346
62
220
165
3,721
73
166
139
3,561
76
140
162
3,690
75
163
149
4,035
67
151
83
340
15
86
77
1,871
16
79
78
1,840
16
82
83
1,993
16
91
81
2,028
18
89
410
700
410
393
632
393
393
682
393
393
620
393
360
636
360
56
38
5
56
46
1,185
6
46
49
1,120
5
49
47
1,282
6
47
63
1,339
6
63
402
3,788
234
433
413
13,665220444
420
12,851
228452
450
13,779192
487
431
13,891
254
466
289
1,198
34
289
279
4,194
33
279
242
4,013
29
245
265
4,421
37
265
265
4,321
38
265
379
1,363
40
431
357
3,918
41
421
335
3,821
41
409
337
3,905
41
414
333
3,736
38
394
7
1,301
7
12
10
1,329
7
15
9
1,344
7
15
8
1,405
8
11
7
1,435
7
10
396
11,3979484
290
12,2035314
314
10,1261314
490
12,60716490
588
13,348
17
594
376
2,309
34
622
328
2,094
35
538
469
3,666
35
683
533
5,133
33
892
482
6,388
28
795
209
2,855
24
290
249
2,838
23
249
319
2,440
15
319
345
1,142
15
345
318
587
15
318
0
624
2
16
0
695
2
18
0
720
1
15
0
648
1
18
0
735
1
15
235
2,238
18
298
159
2,138
18
218
273
2,341
25
324
303
904
24
384
328
859
27
374
28
65
2
53
28
62
2
53
74
65
2
106
75
64
2
107

40

Olympus (GuangZhou) IndustrialCo., Ltd

Olympus Trading (Shanghai)
Limited

Guangdong,
China(Guangzhou)

Shanghai, China

Asia/Oceania
Dong Nai,

Olympus Vietnam Co.,Ltd.

Vietnam

Victoria,
Australia

Olympus Australia Pty Ltd

FY2019FY2023
FY2022
FY2021
FY2020FY2019FY2023
FY2022
FY2021
FY2020FY2019FY2023
FY2022
FY2021
FY2020FY2019FY2023
FY2022
FY2021
FY2020FY2019

42
148
69
68
70
66
729
471
286
244
214
7,514
6,716
18,066
13,276
8,950
322
286
282
328
330

2
2
1
1
1
1
2
1
1
1
1
86
56
56
73
68
1
1
1
2
2

75
0
14
15
21
20
9
5
7
5
8
397
307
210
202
245
24
22
18
32
35

107
10
15
15
22
21
13
16
20
10
12
558
448
382
523
496
47
54
45
61
70

*1 Including Olympus Medical Systems*2 Including Nagano Olympus*3 Olympus Logitex was merged into Olympus Corporation on April 1, 2022.
*4 Olympus Terumo Biomaterials is the sum of Mishima Plant and R&D Center

Environmental Conservation Costs
Environmental conservation
cost classification (million yen)

FY2020FY2019Investment amount

Costs Inside Business Area
Prevention of Public Nuisance Cost
Global Environmental Conservation Cost

Resource Circulation Cost

In Upstream Costs
In Downstream Costs
Environmental Management Activity Costs

R&D costs
Social activity costs
Environmental damage costs
Total

104
31
73
0
0
0
0
0
0
0
104

Cost amount

Cost amount

292
22
240
30
0
0
0
0
0
0
292

236
113
3
120
85
5
345
3
6
0
680

FY2022

FY2021

Investment amount

Investment amount

376
184
40
152
130
1
333
2
1
0
843

244
22
213
9
0
0
4
0
0
0
248

FY2023

Investment amount

Cost amount

80
32
47
1
0
0
10
0
0
0
90

368
219
37
112
217
1
270
2
0
0
858

Investment amount

356
214
12
130
101
5
225
3
0
0
690

Cost amount

Investment amount

371
13
358
0
0
0
0
0
0
5
376

340
140
66
134
20
6
186
2
0
0
554

Target period: April 1, 2018 - March 31, 2023

Scope: Head office functions, manufacturing companies and distribution companies in Japan.
Notes: 1) Tabulation based on "Environmental Accounting Guideline 2005." 2) Cost and depreciation that cannot be separated clearly in environmental conservation are not divided proportionately, and the full amount has been excluded from the calculatio

Environmental Conservation Effects
Quantitative Effects of Environment Preservation
CO2 emissions (t-CO2e)
Waste discharged (t)Effects Inside Business Area
Water consumption (1,000 m3)
Chemical Substances
Transferred/Discharged (t)Economic Benefits of Environmental Protection
Revenue Benefits (million yen)
Cost Savings (million yen)

Proceeds from sale of valuable
resources through recycling
Energy cost
Water consumption cost
Waste disposal consignment cost

FY201942,771
2,087
555

FY202041,9732,163
509

FY202139,015
1,982
498

FY2022
40,571
2,113
484

FY2023
10,477
2,320
489

15.9

16.7

12.9

11.8

10.6

Change from previous year
FY2019FY2020

FY2021

FY2023

FY2022

-6

1

0

10

-4

164
6
8

-20
0
1

-177
-7
-3

195
0
10

588
0
30

Target period: April 1, 2018 - March 31, 2023

Scope: Head office functions, manufacturing companies and distribution companies in Japan.
Notes: 1) Tabulation based on "Environmental Accounting Guideline 2005." 2) Cost and depreciation that cannot be separated clearly in environmental conservation are not divided proportionately, and the full amount has been excluded from the calculatio

41

Human Rights

Basic Approach and Policy
Olympus supports the United Nations Declaration of Human Rights, the ILO Declaration on Fundamental Principles and Rights at Work, the UN Guiding
Principles on Business and Human Rights, and the 10 Principles of the United Nations Global Compact. To put international initiatives into practice in ourbusiness activities, we have also clearly spelled out respect for human rights in the Olympus Global Code of Conduct. In addition, we have formulated the
Olympus Group Human Rights Policy that stipulates the implementation of human rights due diligence based on the UN Guiding Principles. We strive torespect human rights in the management of our businesses. We also urge our customers and third parties promoting business activities with Olympus tocomply with the protection of human rights.
Human Rights Policy

Initiatives

Human Rights Due Diligence
In FY2021, Olympus became a member of Business for Social Responsibility (BSR), a global organization offering support to businesses in the field of
human rights and sustainability, and we engage in global activities in the area of human rights due diligence in compliance with the UN Guiding Principles(UNGPs) on Business and Human Rights. In FY2022, Olympus implemented a human rights impact assessment that covered the entire Olympus Group,and based on the results of this assessment, undertook the following efforts in FY2023.
Firstly, Olympus established a system to grasp the management status of human rights issues within the Olympus Group. This system aimed to confirm the
management status and efforts at each company and implement continuous improvements with regards to the 12 items including freely chosen employmentthat includes the elimination of forced labor, child labor, working hours, humane treatment, non-discrimination and non-harassment, freedom of association,and the utilization of emerging technologies such as AI. In FY2024, Olympus plans to investigate the current state of affairs at each company in the Olympus
Group according to this procedure.
Also, in consideration of trends in the laws and regulations in each country, Olympus received cooperation from BSR and implemented a human rights
impact assessment at a domestic medical equipment manufacturing site. This human rights impact assessment confirmed the manufacturing site's
compliance with Japanese laws. Meanwhile, it came to light that when compared with the standards set by organizations such as the ILO and international
industry associations, there were differences regarding the scope of workers for whom the company has a responsibility to respect their human rights.
Olympus will examine future actions based on the constraints of laws in Japan.
Furthermore, in accordance with its Human Rights Policy, in FY2023, Olympus deployed e-learning globally to introduce Olympus' responsibility to respecthuman rights in its supply chain and to give an overview of the laws and systems in each country. Those who enrolled in the e-learning program learned
about respecting the human rights of not only those who are part of the Olympus Group but also third parties in its supply chain. In Japan, 8,998 employees
enrolled in this e-learning program (enrollment rate: 94%). Olympus will continue to carry out regular educational activities to improve the awareness of its
employees regarding human rights.

Preventing Harassment and Promoting Diversity, Equity, and Inclusion
The Olympus Global Code of Conduct states that "Our Behaviors" are the expression of "Our Core Values" through our day-to-day activities. The Code of
Conduct places the highest value on "Respectful Behavior." The Olympus Group does not tolerate harassment or discrimination based on personal
characteristics such as age, gender, race, sexual orientation, gender identification, socioeconomic status, ethnicity, (dis)abilities, nationality and culture,
language, religion, opinions, political stance, experience, or career backgrounds. Olympus makes every effort to prevent workplace harassment by itemizing
concrete prohibitions on sexual and other types of harassment in the employment regulations.
The Olympus Group has created an organization structure that includes its worksites outside Japan to prevent harassment of any kind and to resolve any
incidents that may occur swiftly and completely.

42

Olympus and its Japan subsidiaries have also established a Harassment Hotline in each business site and subsidiary as a preventive means and to provide
a prompt and pertinent solution if a problem arises. Our Hotline officers are trained with the skills and knowledge to handle complaints appropriately, which
include the protection of the privacy of the consulter or harassment victim, ensuring consultation confidentiality, and preventing any adverse consequencesfrom the consultation.
Since FY2019, we have delivered the Harassment Prevention Guidebook to all employees of the Japan subsidiaries. In this guidebook, a description ofgender minorities, such as LGBTQ, was also included. We keep up-to-date with the expanding scope of harassment, which covers power harassment andgender harassment, including maternity, paternity, and LGBTQ issues. Accordingly, the coverage of our internal consultation manual has been revised andenhanced. In June 2020, the so called "Power Harassment Prevention Act," which stipulates that companies must take preventative measures regardingharassment, was enforced. In preparation for this and to avoid potential incidents we provide an e-learning course to help employees to understand the key
points of the law and what could be seen as power harassment.
We also hold regular harassment prevention training programs for managers, who are responsible for creating a culture of respect in the workplace, to widen
their understanding and to ensure harassment-free offices.
To promote Diversity, Equity, and Inclusion (DEI), Olympus respects employee differences such as age, gender, race, sexual orientation, gender
identification, socioeconomic status, ethnicity, disabilities, abilities, nationality and culture, language, religion, opinions, political stance, experience, andcareer backgrounds.

Diversity, equity, and inclusion: Social: Sustainability: Olympus (olympus.co.jp)
Notice on Establishment of Chief Diversity, Equity and Inclusion Officer at Olympus

Initiatives with Suppliers
The following page provides details on Olympus’s initiatives with its suppliers.

Procurement: Social: Sustainability: Olympus (olympus.co.jp)

Response to the UK Modern Slavery Act
Olympus KeyMed, the Olympus Group company in the UK, has issued a statement in accordance with the provisions of Article 54, Clause 1, of the 2015
Modern Slavery Act in the UK.

Olympus UK and Ireland: Modern Slavery Statement (In English only)43

Product Responsibility

Quality Assurance

Quality Management System

Appropriate Communication

Valuing Bioethics in Evaluating Product Efficacy and Safety

Basic Approach and Policy
In response to the growing social demand for high-quality and safe products and services, the Olympus Group is working to improve the quality and safety of
its products and services and provide reliable services that satisfy our customers.

Quality Assurance
The Olympus Group has established the Olympus Global Quality Policy based on its corporate philosophy. We continue to implement measures to instill
quality policy standards in our daily operations for all members to foster a mindset that emphasizes safety and quality.
Olympus Global Quality Policy

Promotion Structure

Quality Management System
The Olympus Group, with its Chief Quality Officer (CQO) and QARA division members of each region, review and improve their worldwide work processes.
As a result, the Olympus Group business divisions and subsidiaries have actively been obtaining and maintaining the international quality control standards,
such as ISO 13485 certification. Based on the global management rules revised in fiscal year 2021, QARA members regularly report to executive officers
and CQO who are top of quality and regulatory functions, to clarify companywide issues. In addition, we conduct group internal quality audits aimed atmonitoring the status of each quality management system from an objective perspective to get hold of the status of each organization to promote
improvement.

Initiatives

Creating a Safety-and Quality-Oriented Corporate Culture
Olympus Group recognizes that it is essential for Olympus employees to act with a mindset to always prioritize customers and patient's safety and security
by implementing activities to foster an organizational culture that emphasizes safety and security of our customers and patients. As examples of these
activities, the Olympus Group implements a Quality Month initiative and various seminars and e-learning programs, actively creating opportunities for
employees to reaffirm the fact that their day-to-day work leads to the safety and security of Olympus Group customers and patients.

Appropriate Communication(Case 1)
In order to comply with the Laws concerning environmentally related substances for Olympus Group Products and to reduce environmental impact, wecollect information on handling of environmentally related substances and trends in laws and regulations in each country, As a consequence, we haveestablished the "Control Rules for Environment-related Substances Used in Product" in our group products. The rules are published on our website.

44

(Case 2)
Olympus offers advanced information on endoscopes, and diagnostic test using endoscopes and techniques through a membership website "Medical Town"
for medical professionals. Medical safety information, such as corrective actions, recall letters regarding Olympus equipment and warnings are available tonon-members to ensure greater transparency.

Control of Chemical Substances Used in Products"Medical Town," a membership website for medical professionals in Japan (Only in Japanese)
Medical safety information in Japan (Only in Japanese)
Important Customer Information in the USA

Valuing Bioethics in Evaluating Product Efficacy and Safety
Olympus and its Japan subsidiaries may conduct animal research to develop medical equipment, assess product efficacy and safety, and promote thecorrect usage of the products. We are keen to ensure that the research we carry out is ethical from both the scientific and animal welfare viewpoints,
because we value the lives of animals.
Olympus and its Japan subsidiaries introduced their animal research corporate rules based on the Act on Welfare and Management of Animals, Basic
Guidelines for Animal Research in Institutions under Management of the Ministry of Health, Labour and Welfare and other related laws and guidelines. We
established the Institutional Animal Care and Use Committee (IACUC) based on the animal research corporate rules to rigorously review all our animal
research plans and ensure that they are based on the 3Rs of animal testing —Replacement (of animal testing with alternative methods), Reduction (of thenumber of animals to be used), and Refinement (of the testing method to minimize animals' suffering).
We are committed to the ethical and humane handling of the animals used in our research, paying extra attention to their physical and psychologicalwellbeing. Self-inspections are also conducted, verifying our compliance with the research corporate rules for animal research. Our practice is accredited
under the Accreditation of Laboratory Animal Care and Use by the Japan Pharmaceutical Information Center.

45

For the Benefit of Patients

Basic Concept
At Olympus Group, our Vision is making people’s lives healthier, safer, and more fulfilling. We do this through our focus on the patient’s journey, fromprevention through recovery. As we focus on the patient care pathway, we seek ways to create solutions and optimize procedures to enhance the carepathway through comprehensive understanding and management of diseases to drive value. This will support our strategy to improve patient outcomes by
elevating the standard of care.

Initiatives

Initiatives to Improve Patient Care Pathways (Case Study of Colorectal Cancer in Japan)
We aim to improve the quality of life (QOL) for patients by comprehensively enhancing the care pathway.
In the area of cancer treatment where early detection and early treatment are important, we are working to raise awareness of the importance of screening
as part of our “prevention” efforts in the care pathway, and we are running a website that provides a variety of information on screening and treatment under
the supervision of a doctor (Figure below 1). We are also implementing activities such as providing materials through the conclusion of “Cancer Control
Agreements” with local governments to encourage citizens to undergo screenings (Figure below 2) and promoting the importance of undergoing medical
check-ups via youth education support, donations, and collaborations with non-profit organizations (Figure below 3). Furthermore, as part of our commitment
to “early detection,” “definitive diagnosis,” and “treatment,” we provide medical institutions with endoscopic systems, technologies to support endoscopic
diagnosis, and a variety of surgical instruments that enable minimally invasive procedures that reduce the burden on patients (Figure below 4)
In addition, we provide information on the maintenance of products and devices through a website dedicated to healthcare professionals to ensure thesmooth and efficient performance of necessary examinations (Figure below 5).

46

47

Elevating the standard of care

Basic Policy
Olympus Group aims to improve patient outcomes by elevating the standard of care in targeted diseases. We have a Global Medical & ScientificAffairs(MSA) that serves our patients, healthcare professionals, and community by bringing medical, scientific, and professional capabilities to deliver safeand effective products around the globe that are clinically relevant and economically valuable.
This organization serves three important roles:
1. Strengthen Olympus Group’s functional capabilities to develop medical device innovations promoting patient-centered solutions that are safe andeffective.
2. Develop and implement educational programs and training for healthcare professionals to rapidly gain technical expertise, achieve excellent clinicalresults, while ensuring the patient’s safety.
3. Leverage real-world evidence to improve clinical outcomes for patients that, in turn, produce economic value for payers, healthcare systems, andsociety.

Initiatives

Focus on Premium Educational Offering for Healthcare Professionals
Professional Affairs (PA) offers a comprehensive suite of specialized, premium educational programs and training experiences designed to help Healthcare
professionals broaden clinical expertise and enhance procedural skills/techniques to perform at their best and deliver optimal patient care and safety.
With our educational platform “Olympus Continuum”, we want to empower people and provide valuable ongoing learning opportunities.
Healthcare professionals work in a variety of settings and have a multitude of needs—and their expectations for training courses have evolved well past
traditional skills-based learning. What “Olympus Continuum” does is connect the continuum of care with the continuum of learning. A truly blended
experience, “Olympus Continuum” maximizes digital self-guided learning, direct in-person training, and post-learning collaboration to support healthcare
professional across every stage of their career, and to improve patient outcome.
In FY2023, we provided a total of 1,930 training sessions (+50% YoY) in each business area (global).

Olympus Continuum training results

Number of times held (year on year)
1,930 times (150%)

Olympus Continuum

Grant Initiatives
Through our Grants Program, Olympus Group supports independent third-party activities that relate to diseases, conditions, or treatments for which Olympus
products are used. The fundamental goal is improved patient care. Olympus Grants primarily support education for healthcare professionals, including
clinical fellowships, hands-on trainings, and programs to improve equity in healthcare. Patient-facing support includes disease awareness programs,
healthcare capacity building, and care initiatives for patients in need. A limited number of research Grants support independent studies related to Olympus
product areas. Over 390 unique organizations received Olympus Grants in FY2023 to conduct programming in more than 40 countries. In addition to in-kindawards, financial Grants made by Olympus Group in FY2023 totaled approximately US$5.7 million.

48

Clinical Data Transparency Policy
Olympus' mission is to help enhance lives by delivering to healthcare providers quality technologies that exceed their expectations and allow them toadvance delivery of clinical care to patients. This requires the transparent sharing of clinical trial data in the interest of identifying the best suitable treatment
for the individual patient.
Olympus defines this clinical data transparency policy within our societal responsibility and vision to make people's lives healthier, safer, and more fulfilling.

Guiding Principles

Clinical Trial Registration and Reporting of Results
Olympus will register and post results of applicable clinical trials on clinicaltrials.gov and/or other websites in compliance with internationally accepted
guidelines and applicable local laws and regulations.

Scope
Olympus is committed to the highest ethical and scientific standards for publications with the goal to provide accurate, balanced, and timely publication of its
Olympus-sponsored studies which includes clinical interventional, observational, and real-world studies to advance public health.
Publication Steering Committees are implemented for all Olympus-sponsored studies. The steering committees help support application of this Clinical
Data Transparency Policy. The committee members ensure that study results are published within reasonable timelines according to international guidelines
and standards, such as the ICMJE (International Committee of Medical Journal Editors) and other applicable guidelines, including the Good Publication
Practice Guidelines. Notwithstanding the foregoing, authors retain responsibility and accountability for decisions about the content of the publication andjournal selection.
Authorship will be distributed among qualified academic contributors in a transparent and balanced way. Authorship shall be determined based on the four
criteria defined by the ICMJE guidelines and such requirements shall be included in a written agreement (Clinical Trial Agreement) signed by eachparticipating investigator and Olympus prior to the start of the study.
All authors must meet all four criteria, and anyone who meets the criteria should be listed as authors, regardless of their relationship to Olympus. Olympus
personnel who qualify as an author based on these criteria must be included as an author and must disclose their affiliation with Olympus, and authorshipshould not be denied because of concerns about perception of bias.
The final decision as to who will be an author on a Publication shall be made at the time the manuscript is being finalized for submission to a journal and will
be based on the actual activities performed by all parties involved in the study including the Lead Principal Investigator, other Investigators and Olympus.
Authors of a publication retain editorial control of the publication content and accept full responsibility for the publication by approval of the final version prior
to submission of the publication.
Under no circumstances shall any authorship decisions be made with the intent of, directly or indirectly, implicitly or explicitly influencing or encouraging theauthor to purchase, prescribe, refer, sell, or arrange for the prescribing, purchasing, sale, or formulary placement of any Olympus product, or as a reward forany such past behavior. Authorship is not a reward or gift for services rendered.
Olympus does not provide compensation for publication writing or editing activities to any author. Only reasonable out of pocket expenses incurred by anauthor, (e.g., travel expenses for congress abstract presentations, journal charges including submission and publication fees) are reimbursed and disclosed
as required by applicable law. Authors will disclose financial and non-financial conflicts of interest that could be perceived to bias their work or influence
professional judgement.
Commercial (sales and marketing) are not involved in planning, development, or review of publications.

Acknowledgements
Individuals who do not qualify as authors under this policy but who assist in the analysis or drafting of a Publication (including professional medical writers,
study investigators, scientific advisors, and Olympus employees) should be included separately in the acknowledgement section according to their level ofcontribution, with a description of their contributions (e.g., “served as scientiﬁc advisors,” “critically reviewed the study proposal,” “collected data,” “provided
and cared for study patients,” “participated in writing or technical editing of the manuscript”).
Acknowledged contributors shall review the wording describing their contribution and provide written permission to be included.

49

Additional Disclosures
The submitted manuscript shall always include a statement making it clear that the study was an Olympus sponsored study. In addition, any financial or othersupport and/or assistance of Olympus for a publication must be disclosed clearly and fully in the publication, following the journal’s requirements. Any
professional medical writing support will also be disclosed to prevent so-called ghostwriting.
Each Author must fully disclose all financial relationships with Olympus or any other conflict of interest, such as employment or contracting relationships with
Olympus or if the author has otherwise collaborated in commercial or scientific pursuits with Olympus (e.g., an author who is also retained as an Olympus
speaker or consultant) – even in the absence of direct monetary renumeration.
Timely Publications contribute to evidence-based decision-making. Therefore, Olympus is committed to submitting to congresses and/or peer-reviewed
journals publications from studies in a timely manner, regardless of a positive or negative outcome. Exceptions to this principle will be limited and must be
approved by the publication steering committee based on objective and valid reasons.
Data Access is granted by Olympus to all external authors on anonymized patient-level as needed by them to fulfill their role and obligations as authors
under ICMJE, such as the interpretation of clinical trials results. Patient data privacy is key for any data access activity.
We value the significant contribution of each clinical investigator, and Olympus will provide aggregated study data to study investigators by a mutuallyagreeable method and format.
The publication of results from individual sites within a multi-center study and the timing of such publication will be agreed between the site and Olympus andmemorialized in a written agreement. CONSORT guidelines will be followed to report the results of randomized controlled trials.
A layman’s, plain language summary of study results will be made available to the individuals who volunteered to participate in Olympus-sponsored
trials.

50

Responding to Customers

Basic Concept
The Olympus Group is engaged in a variety of initiatives to provide better products and services to healthcare professionals, our customers, in order tocontribute to "Making people's lives healthier and safer”. We have established a global system to accurately handle a series of customer service activities,
from product sales to in-use support and repairs, and are engaged in daily operations.

Initiatives

Building a relationship of trust with customers
The Olympus Group believes that a relationship of trust with healthcare professionals is necessary to provide better products and services and contribute to
making people’s lives healthier and safer, and monitors customers’ satisfaction with its activities at various points of contact with customers, including sales
and after-sales services, in Europe, the Americas, Japan, and Australia. Based on the monitoring results, issues are clarified and prioritized, the impact on
business is quantified, and feedback is provided to each department in charge to improve the quality of activities. By continuing these efforts, we hope todeepen the relationship of trust with our customers.
In 2023, we began monitoring in Singapore and the Hong Kong region using the same survey method, and plan to gradually expand the range of areas
covered by the system.

Main measures implemented for improvement
Europe:Website modifications to facilitate customer interaction in France (ENT sector).
Service-related improvements around customer support field service and repair process kindly include Italy, Poland and Czech Republic
Americas:
Invoicing process reviewed; phone line and email improvements
Japan:Creation and implementation of a system to check the skills of telephone operators at call centers.
Release of video service training content on endoscope operation via website

51

Australia and New Zealand:

Improvement of the quotation process to shorten repair times.
Optimization of domestic logistics

Compliance in sales activities
Based on the Olympus Group Code of Conduct, the Olympus Group conducts thorough compliance education to ensure the safety of its products andservices, eradicate discrimination and harassment, comply with ethical business practices, and protect personal information and other information assets.

Post-sales activities
The Olympus Group’s core products, the endoscopes, are inserted into the body and are precision instruments with complex and special structures forreliable medical procedures by healthcare professionals. We systematically provide a variety of support even after the product has been sold, as it requires
inspection before use, proper reprocessing (cleaning, disinfection, and/or sterilization) after use, and regular maintenance.

1. Installation, operation check, and instruction on handling of equipment
2. Provision of optimal support through regular visits*
3. Proposals to prevent failures*
4.

Provision of information on pre-use checks and maintenance of products*

5. Equipment inspection by service staff*
6. Proposal of operation plans tailored to the equipment’s usage status* This service is provided upon customer request.

1. Call center response
The call centers respond to inquiries in detail with systems suited to each region.
We also respond to inquiries through our website. Call centers in Japan, China,
and the U.S. are staffed with teams dedicated to handling and troubleshooting
equipment, and handle troubleshooting while using the equipment actually inuse.
2. Field service staff response
Field service staff will hurry to the site to inspect the equipment and take action
for early restoration in the event of trouble.
3. Repair support
We have established repair systems in each region of the world. In addition,
centralized repair centers have been established in key regions to ensure
prompt and stable repair response to severe failures. To minimize disruption to
the healthcare delivery system, we will also arrange for alternative equipment*
when repairs are handled. In the U.S., we have developed a portal site to checkthe status of repairs. A similar portal site is currently being piloted in Europe andwill be expanded to other regions in the future.
* Depending on the product, we may not be able to get a replacement rightaway.
4. Activities to prevent failures
Conducted training* on how to use equipment to avoid damaging it and inaccordance with customer requests.
* For customers with service contracts, failure prevention education is provided
based on the failure occurrence status and details of the failure to prevent
recurrence.

Repair site
52

Each Olympus Group repair center is equipped to respond promptly to repair requests from customers. In addition, the Olympus Group has a mutual backup
system in case of emergencies such as disasters.

53

Procurement

Basic Approach and Policy
The Olympus Group aims to strengthen supply chain management (SCM) within the context of business continuity and sustainable value creation. In June
2021 we replaced our procurement policy with a supply chain policy in line with our ESG (environment, society, and governance) initiatives to contribute tosound and fair transactions and the sustainable development of society. In addition, we formulated the Olympus Group Green Procurement Standards, which
set out our basic environmentally conscious approach to procurement. Since then, the Olympus Group has disclosed its basic stance on the supply chain
both internally and externally through its website and training sessions, while strengthening compliance with laws, regulations, and social norms. We havealso established the "Expectations of Suppliers" as a concrete guideline for complying with laws, regulations, and social norms, including respect for humanrights and the elimination of antisocial forces, prohibiting corruption and bribes, promoting fair and lawful transactions, and taking the environment into
consideration. When selecting new suppliers, we review their current response to compliance with social norms and environmental issues as one of ourscreening criteria.
Based on these principles for procurement activities, the Olympus Group strives to create and strengthen good relationships with our suppliers through fair,just, and transparent transactions.

System, Mechanisms and Initiatives

Sharing Business Strategies and Supply Chain Policy
We share our "Expectations of Suppliers" and "Green Procurement Standards" in writing with our suppliers in Japan, asking them to comply with laws andregulations, social norms, and environmental considerations. We conduct an annual web-based supplier survey in Japan with 30 CSR questions to raise
suppliers' awareness of issues related to the Sustainable Development Goals (SDGs).
Our Global Procurement ESG strategy consists of three materiality topics as part of the focus area of Responsible Supply Chain:
1. Improve supply chain risk mitigation and resilience by implementing a multitier supply chain risk monitoring solution.
2. Enhance social (human rights) commitment in SCM: This includes creating and publishing a Global Supplier Code of Conduct as well as monitoring ESG
risk in our supply chain.
3. Environmental Supplier Management: We will begin creating a baseline of CO2 emissions from our suppliers, as well as asking suppliers to set sciencebased targets for our Science Based Targets initiative (SBTi1) certification.
1Please refer to the following website for information on SBTi certification: https://sciencebasedtargets.org

Supplier Survey and Improvement Activities
Once a year Olympus conducts a web-based survey of our major suppliers around the world with whom we have ongoing business in Japan. The survey
covers 123 questions, of which 24 are related to sustainability management information, sustainability initiatives, and business continuity plans (BCPs). In
FY2023 we added six questions relating to climate change, including actual greenhouse gas emissions.
In FY2023 the survey was conducted on 667 companies, including overseas suppliers. Responses were received from about 86% of companies. If thesurvey results show that a supplier does not satisfactorily comply with legal and social norms, as well as environmental protection, and needs to improve, an
onsite audit is conducted, and they must implement corrective actions in order to meet the points listed in our “Expectations of Suppliers.” At the same time,
wherever possible, we recommend self-improvement actions to prevent the risk of incidents.

Key Evaluation Items in Supplier Survey for Initiatives with Suppliers
Evaluation

Criteria Details

Management information

Corporate information, financial condition

54

Sustainability

Compliance with laws, regulations, and social norms
Protection of human rights (child labor, forced labor, inappropriate low-wage labor)
Protection of worker rights (labor standards, occupational safety and health)Protection of the environment (CO2 emissions, waste discharge, water usage, environment-related chemical substances)
Personal and confidential information protection, intellectual property protection

BCP

Business continuity strategy, manufacturing site information,
contact information during emergencies and disasters,
confirmation of supply chain, confirmation of employee safety

Environment and quality

Acquisition of ISO 14001, ISO 9001, and ISO 13485
Procurement and process management (5Ms [materials, methods, measurement, machinery, manpower], change
information, noncompliant treatments)

Delivery/Cost

Production plans, progress and distribution management, cost reduction activities

SystemComputer security

Response to Conflict Minerals
One of the effects of the continuing civil war in the Democratic Republic of the Congo (DRC) has been the use of minerals, including tantalum, tin, tungsten,and gold, mined in the DRC and neighboring countries to raise funds for armed groups. For many years, this practice has resulted in human rights violations,
including child labor, sexual violence, and environmental damage. In July 2010 the United States sought to cut off this supply of funds to armed groups byintroducing an amendment to its financial regulation law defining these four substances as conflict minerals. Companies listed in the United States that use
conflict minerals are now required to submit reports to the US Securities and Exchange Commission (SEC). Other moves by international organizations,
governments, NGOs, and industry organizations to solve this problem include the publication of the Due Diligence Guidance for Responsible Supply Chainsof Minerals from Conflict-Affected and High-Risk Areas by the Organization for Economic Cooperation and Development (OECD).
The Olympus Group upholds international efforts to resolve the problem of conflict minerals. On behalf of the Olympus Group, Olympus participates in acommittee established by the Responsible Minerals Trade Working Group of the Japan Electronics and Information Technology Industries Association(JEITA). Working together with suppliers, such as by discussing the conflict minerals at the Supply Chain Policy Meeting, we ensure transparency in our
supply chains and continue the procurement of parts and materials that does not cause human rights violations.

Education for Compliance with the Subcontract Act
Olympus regards the Subcontract Act as one of the most important applicable laws, and we engage in a wide range of activities to ensure compliance. The
participation rate for the Subcontract Act e-learning programs for all employees of Olympus and its Japan subsidiaries in FY2023 reached 97%. Following
the establishment of the Subcontractor Act Promotion Committee in FY2020, we are reinforcing the Olympus Group's compliance with the act and areproviding internal workshops as a part of such efforts. In FY2023 we held specialized training according to the nature of transactions for each function with
178 participants from procurement, 1,401 participants from manufacturing, and 2,703 participants from R&D to further deepen their understanding of the
Subcontract Act.
We will continue to provide education to ensure Group-wide compliance with the Subcontract Act.

55

Employment

Basic Approach and Policy

Promotion Structure

Initiatives

Basic Approach and Policy
The Olympus Group published the Olympus Global Code of Conduct to define the ethical standards for the behaviors of all group members. We place thehighest value on "Respectful Behavior. Under the Code of Conduct, we clearly declare that we do not allow harassing behavior or discrimination based on
personal characteristics like gender, age, nationality, ethnicity, skin color, political views, sexual orientation, religious beliefs, social background or disability.
"Show appreciation for diversity of people, views, and work styles" and "Never discriminate against job candidates or employees" are two examples of "What
we do". With these basic codes of conduct fully implemented, we provide all employees with equal opportunities to fulfill their potential and improve theirabilities as well as opportunities to work, develop their abilities and gain promotion according to their level of competency.
In April 2019 we introduced a corporate transformation plan Transform Olympus, a global-scale human resources policies that serves as the basis for our
global employees to follow our Corporate Philosophy (Our Purpose and Our Core Values), and to encourage each employee to take on ambitious challenges
for personal growth. Under our transformation plan, we will assign employees in the most efficient way without regard to attributes such as nationality or
gender to encourage our diverse human resources to work effectively. Especially in Japan, we plan to expand the use of our HR systems based on "jobfocused employment” to all employees, starting from Olympus. Rather than the traditional Japanese HR systems based on "membership-type employment,"
in which factors such as age and years of service affect compensation, compensation can be more direct depending on the size of responsibility of theindividual's roles. We also plan to introduce a global common performance management system that will allow us to evaluate individual performance fairly
across the world and reward their performance. We believe that these reforms in the human resources system will provide a shortcut for employees to draw
their own career passes while pursuing their expertise.
Human Rights Policy

Promotion Structure
In the Olympus Group, the President is ultimately responsible for our strategy for human resources including personal management and labor relation, while
the Corporate Officer in charge of human resources implements our group-wide human resource strategy through the HR function at the headquarters.
We are implementing measures to ensure that we follow labor and employment laws and regulations in the various countries in which each subsidiary anddivision operate in compliance with the Group's human resource strategy to ensure diversity in human resources for optimal business management.
Olympus and its Japan subsidiaries are sometimes located in one facility. Each facility has its own general manager to ensure comprehensive
implementation of policies and measures involving personnel and labor issues.

Organization of Human Resource Strategy Promotion (Olympus and its Japan subsidiaries)

Initiatives

56

Recruitment in FY2023
Olympus hired 243 employees (only full-time employees) in FY2023, almost the same number as the previous year. Of these, mid-career employees
accounted for 72% of the total.
Also, the recruitment rate of female employees was 25.9%, falling by approximately 6.0% compared to the previous year.

Employment of People with Disabilities
Olympus actively promotes the employment of people with disabilities (physical, mental, and intellectual). After hiring employees, they are active in a wide
range of fields, including general clerical positions, as well as research and development positions such as manufacturing engineering positions and IT
development positions. In April 2009, we established a special subsidiary* called Olympus Support Mate,which mainly employs people with intellectual
disabilities and strives to continuously employ them by creating an employment environment that includes the establishment of work processes suited to thecharacteristics of the people with disabilities and the placement of supporting staff for their active roles. In addition, Olympus Support Mate's Cleaning
Business Group has been established in Aomori Olympus, Aizu Olympus, Nagano Olympus, and Shirakawa Olympus to contribute to the creation of job
positions where people with disabilities can work in local communities. The potential of people with disabilities is then linked to the company's strengths. As
of April 2023, the employment rate of eight special corporate groups was 2.78%, maintaining a level above the statutory rate of 2.3%. Olympus Terumo
BioMaterials employs para-athletes who aspire to the Paralympic Games and supports their athletic activities. At the same time, Olympus actively supportssocial contribution activities such as hands-on classes aimed at realizing a society in harmony.

Olympus Terumo Biomaterials "Initiatives for Employment of Persons with Disabilities"* Special-purpose subsidiary: A subsidiary approved by the Minister of Health, Labour and Welfare under the provisions of Article 44 of the Act on Employment Promotion, etc., of
Persons with Disabilities s an organization that gives special consideration to the employment of people with disabilities and is deemed as one of the business offices of its
parent company.

Employment of the Elderly
Olympus has a system to continue employing employees who want to work for the Company after reaching the retirement age of 60 until they become 65
years old. In FY2023, 107 people newly qualified for the system, and 100% of the employees requesting continued employment were hired accordingly.

57

Labor Relations

Basic Approach
The Olympus Group values protection of the rights of individual employees in order to offer better value to society. We implement appropriate measures
based on human rights viewpoints and the labor and employment laws of each country.
The Olympus Group Human Rights Policy supports respect for the rights of the worker as set out in the ILO Declaration on Fundamental Principles andRights at Work and the Group pledges to implement these principles in its companywide management and daily business activities.
Human Rights Policy

Initiatives

Global Employee Survey for the Improvement of Employee Engagement
We conduct employee surveys (core value surveys) to listen to the opinions of employees and to achieve a better corporate culture and work environment.
The results are shared with management, including regional management, and measures are implemented at various organizational units. From August to
September 2021, we conducted our first core values survey in 3 years. It was conducted in 43 countries and regions and 18 languages, with a response rateof 86%. The percentage of employees who responded they understood the core values was 78%, and the percentage of employees who responded thatthey were positive about engagement was 67%, an improvement from the previous survey. Of the 42 items, 39 showed improvement from the previous
survey, indicating that we are making steady progress in our efforts to improve our corporate culture.
In addition, we have defined the corporate culture that the Olympus Group aims to achieve as a “healthy organizational culture.” To achieve this culture, we
are addressing issues common to the entire company and issues specific to each region, while at the same time providing and promoting the use of “healthyorganizational culture practice tools” that can be implemented at each workplace. In particular, we are taking action for collaboration, delegation of authority,
corporate culture encouraging challenges, and improvement of work-life balance.

Labor-Management Consultations (Japan)
The top management of Olympus provides regular opportunities for labor-management consultations both centrally and at individual facilities, including
twice-annual meetings of the Central Labor-Management Council with the Olympus Labor Union, to discuss reforms of the corporate culture, such as the
improvement of labor conditions and revisions toward more flexible workstyles.
In FY2023, labor-management talks confirmed that Olympus would continue discussions on management measures and organizational culture developmentin general. Also, through continuous labor-management dialogues, revisions were made to the labor agreement and employment regulations for the adoptionof a job-based HR system.
As of April 1, 2023, 4,636 permanent employees (other than those at managerial positions) were members of the labor union, which covers 69% of all
employees.

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Employee Development

Our Approach to Employee Development
The Olympus Group regards its employees as key to our current as well as long-term success. By treating every employee with respect, sincerity, andempathy, we aspire to become an organization capable of fulfilling Our Purpose, putting patient safety at the heart of our endeavors, delivering against ourbusiness strategies, and operating successfully in a fast-moving global environment. To achieve this goal, every employee needs to gain a deep
understanding of the principles and values shared by the entire Group and to build professional and personal skills to contribute to our shared objectives.

Our ambition regarding learning and development is to create a culture that empowers all employees to grow, build relevant
capabilities, and live in accordance with Our Core Values. Changes in markets, technologies, and society have a huge
impact on the way we work and the skills that are necessary. The Olympus Group therefore recognizes learning as a lifelong
activity. We encourage employees to learn, and we provide them with opportunities to do so in the form of training andeducation offers, learning from colleagues and leaders, and job and task assignments that foster growth.
Leadership quality is a key enabler both for our business success and our cultural transformation. Our global leadershipcompetency model provides a common global framework for leadership development, talent and succession management,
hiring and performance evaluation of leaders.
We aim for the consistent development of our employees regardless of where they are based in the world. With the introduction of our new global
performance management process, we emphasize the importance of Our Core Values and foster feedback and learning. Employees are encouraged tocreate individual development plans. In addition, we measure our success in employee development through regular employee surveys.

Our Development Offers
Olympus provides a wide range of development offers, both on a global and regional/local level, directed at leaders, individual contributors, and teams.

Our focus areas are:Our purpose, values and culture: Putting patient safety and quality at the heart of everything we do:
Exemplary offers include onboarding sessions on a global and regional/local level, Our Core Values weeks to embed Our Core Values and encourage our
employees to embody them, and lectures where patients and healthcare professionals share their stories.
Personal and professional growth: Building the skills and mindset required for success on a business and personal level
Exemplary offers include leadership programs focusing on our leadership competencies, 360 Feedback for leaders, facilitated courses and e-learning59

relating to business skills (e.g. project management, presentation, decision making, feedback), language courses, cross-cultural collaboration workshops,
and career workshops. From 2020 to 2023, we delivered the Business & Professional Skill Development program with the total participation of more than
6,600 leaders and employees.
Functional/job-specific skills: Building expertise in your chosen field
Exemplary offers include, among many more, product and sales training for our salesforce, training for employees in manufacturing and repair, and theMarketing Academy.
In addition to these offers, we are establishing LinkedIn Learning as an offer to employees to select from more than 20,000 courses. This offer is alreadyavailable to 8,000 employees worldwide and will be extended to 20,000 employees within the next 12 months.

Leadership Development
In 2019 Olympus introduced the Global Leadership Competency Model (GLCM), which highlights the main competencies that leaders need at Olympus todeliver against our strategy and achieve our goals. This model was first applied in talent and succession management for global key roles. Since 2021 it has
been expanded and rolled out to all management positions. The model is applied in hiring/selection, talent and succession management, learning anddevelopment, and, from April 2023, our global performance management process as well. The GLCM is the foundation for our global leadership development
offers.
Global 360 Feedback: Introduced in May 2022, this is a development offer for all leaders. Leaders receive feedback from direct reports, peers, and manager
with the purpose of gaining insights on strength and development areas and deriving development goals from the process. Since its introduction, more than
500 leaders have gone through the process already.
In FY2023 we offered six Master Classes to our senior leaders with a total participation of approximately 850 people. These lectures from high-profile experts
focused on such leadership competencies as innovation, strategic mindset, and developing talent.
Regarding talent and succession management, we conduct the visualization of human resources using the nine-box matrix tool to measure performance andpotential. This approach leads to custom-made skill development for each employee, as well as the identification of high-potential human resources,
strengthening of the succession pipeline, and the implementation of strategic and planned training and assessment.
From 2023 on, a facilitated live-virtual GLCM Module Program will be launched. Based on business needs and individual development plans, managers
select modules that provide insights and help build skills in specific leadership competencies. This globally consistent program ensures that Olympus leaders
will develop a common language and skillset across the world.
Regional leadership development activities complement the global offers. Examples include:• Regional mentoring schemes• Programs for newly appointed leaders• Courses that focus on specific skills (e.g., managing change, coaching, hiring)

Training and Education System in JapanAt present, Olympus and Olympus Marketing, Inc. provide educational programs and learning opportunities for their employees, with several
hundred course titles made available each year. They include e-learning programs based on the Olympus College Plus educational management
system and group specialized skills training and compliance training programs. With advances in the online environment in recent years, we areworking to develop more effective and efficient skills development systems. Specifically, we have reduced travel costs by conducting online grouptraining programs, created new internal studios, improved the program participation rate with on-demand videos for existing programs and improved
the learning effect through combining these programs with flipped learning. By thus consolidating our human resources systems on a global scale,
we hope to achieve greater improvements in the training content, learning effect and participation efficiency.

Manufacturing Technicians Training Program
The Olympus Group regards its manufacturing technicians as an important source of added value.
The manufacturing sites in Japan provide them with functional training through the Manufacturing Technicians Training Program. In the
Manufacturing Technicians Training Program, we classify skills of manufacturing technicians into 6 stages, aiming at a planned level-up. Level 1 to 3
new employees are "general technicians," Level 4 and above are certified as "advanced technicians" with high technical skills. Level 4 employees
are referred to as Manufacturing Advisors (MA), Level 5 as Manufacturing Supervisors (MS), and the highest level 6 as Manufacturing Masters60

(MM). From new recruits to MMs, we nurture our employees in aplanned manner according to their level. As of April 1, 2023, thecumulative number of advanced technicians reached 105.
We implement training programs for employees aiming for high-level
certification. Since advice can be received from high-level certified
technicians, these programs naturally strengthen organizational
capability and also boost individual motivation. As with manufacturing
sites in Japan, at Olympus Vietnam Co., Ltd., which handles the
manufacture of medical products, a certification system for bonding andsoldering work has been introduced. This is designed to upgrade theSkill level of Manufacturing Technicians Training Program (Manufacturing sites inJapan)

training and education programs and contribute to the creation of a
global manufacturing system.

61

Diversity, Equity and Inclusion

Basic Approach

Global DEI Promotion System

Global DEI Strategic Priorities and Initiatives

DEI Initiatives for Each Region

Targets and Achievements Data

Basic Approach
The Olympus Group has formulated and made public its global Diversity, Equity and Inclusion (DEI) strategy for fiscal 2023.
In our journey of achieving Our Purpose of "Making people's lives healthier, safer and more fulfilling,” DEI is an indispensable piece of strategy to ensure.
We can increase organizational capability and sustainability ensuring that we will be chosen by employees, customers and stakeholders to fully realize Our
Purpose.

Olympus Names Wenlei Yang the Newly Established Chief Diversity, Equity and Inclusion Officer

Statement (Our Vision of DEI)
At Olympus, valuing people with diverse perspectives and backgrounds is a part of Our Core Values. Olympus respects the differences in our people’s age,gender, race, sexual orientation, gender identity, socioeconomic status, ethnicity, (dis)ability, nationality and culture, language, religion, opinions, politicalstance, experiences, and career backgrounds.
Olympus continuously works to build an inclusive culture and equitable systems, where everyone, including the communities we serve, are accepted for who
they are, with equal access to opportunities.
We believe that Diversity, Equity and Inclusion are equally important, and only when DEI becomes integrated into our daily work, will people be their true self,
release their full potential, and perform at their best.
In an inclusive and equitable environment, our people with their diverse backgrounds will better understand our customers’ varied needs and expectations,
thereby creating new value by exchanging their opinions between each other, and developing solutions together to ultimately contribute to Our Purpose of"Making people's lives healthier, safer and more fulfilling.”

Definition of Diversity, Equity and Inclusion

Why Olympus Is Committed to Engaging In DEI Initiatives
In our journey of achieving Our Purpose, DEI is an indispensable piece of strategy to ensure that we will:62

・ Enhance the employee experience and further enable everyone tobe their true self and be recognized in the organization.
・ Achieve better decision-making and foster innovation, to bringmore value through our products and services to our customers
and patients.
・ Foster creativity and have more chances to streamline processes
and increase productivity.
As a result, we can increase organizational capability and sustainability,
ensuring that we will be chosen by customers and stakeholders, to fully
realize Our purpose.

Global DEI Promotion System
To actively promote DEI, Olympus has created the new post of Chief Diversity, Equity and Inclusion Officer (CDO),
as of June 1, 2023, with Ms. Wenlei Yang, Regional Representative Officer, Japan, having been appointed to thisposition. While continuing to serve as the Regional Representative Officer, Japan, CDO Yang will endeavor to
expedite initiatives related to Olympus's global DEI strategy in this new role.
As a leading global MedTech company, Olympus has a duty to establish an understanding of the latest trends andimplement appropriate measures which cater to the expectations of its stakeholders. The creation of this new
position will also help ensure Olympus's global governance structure for DEI measures. We are confident that Ms.
Yang's leadership based in her abundant experience will drive our organization towards our DEI goals.

Global DEI Strategic Priorities and Initiatives

Four Strategic Priorities
In engaging with DEI, four key themes are being prioritized globally1.
1. Gender and Life Priority, to further support women colleagues and all “Care Takers2” that may have time constraints through life events
2. Nationality and Culture, to increase diversity and ensure equitable access to opportunities regardless of nationality/culture or language
3. Career and Experience, to increase professional experience and broaden team/organizational coverage of perspective
4. Inclusive Environment, to ensure psychological safety that everyone could speak up and collaborate effectively
1 DEI efforts concerning other pillars, including age, race, sexual orientation, gender identity, socioeconomic status, ethnicity, (dis)ability, religion, opinions and political stance areall equally important in Olympus. Increase diversity and ensure equity in each pillar to be driven in each region, taking regional features into account.
2 Care takers are people need to work and at the same time taking care of their children, parents, families etc.

Specific Initiatives
Olympus are pioneering the provision of globally common DEI training for managers, as well as opportunities for employees to apply for global positions,while also providing language learning programs, in line with the four main themes outlined above. It is planned to roll out new measures in turn and to
deploy these globally in a gradual fashion.
In addition to these respective initiatives, Olympus holds global events. On International Women's Day (March 8, 2023), around 400 employees from Japan,
Americas, EMEA, China, and the APAC region simultaneously participated online.
More initiatives support to realize strategic priorities to come in near future

63

DEI Initiatives in Each Region
In addition to global DEI initiatives, we implement activities tailored to the specific challenges and needs of each region. Please see below for more details.

・ Promotion of DEI in Japan・ Diversity, Equity and Inclusion in the Americas

Targets and Achievements Data

DEI-Related KPIs
The following KPIs were established when we launched the strategy in FY2024, which will not be the purpose of DEI program but provide measurement for
us to understand our achievement.

1. Achieve 30% representation of women in management roles globally byFY2028 (including doubling the rate of women managers at Olympus
Corporation to 13%)
2. Have 100% of eligible men at Olympus Corporation take parental leave by FY2026
3. Increase the diversity of nationality and cultural at the Olympus Group and further improve employee engagement scores
Current statuses (as of March 1 2023)

・ Percentage of female managers globally: 22.7%
・ Percentage of female managers at Olympus Corporation: 7.2%
・ Rate of male employees acquisition of parental leave at Olympus Corporation: 70.2%* Please refer to the following page for details of results for Olympus Corporation.

Promotion of DEI in Japan64

Promotion of DEI in Japan

Changes to DEI Initiatives in Japan

Systems and Mechanisms

Initiatives

Targets and Achievements Data

Changes to DEI Initiatives in Japan

Action Plan
General employer action plan based on the Act on Promotion of Women's Participation and Advancement in the Workplace
General employer action plan based on the Act on Advancement of Measures to Support Raising Next-Generation Children

Systems and Mechanisms

Effects of Workstyle Reform
To realize the purpose of our existence, Olympus promotes diverse work styles with the aim of creating a healthy organizational culture in which each andevery employee can perform at his or her best.
In April 2021, we revised the system, particularly in terms of teleworking, by significantly reviewing the eligible employees, maximum number of days, andplaces of work, in order to enable flexible work styles.
In addition, we created a work environment that offers versatile working styles and that is not restricted by time or location by introducing paid annual leavethat is granted in units of hours, introducing satellite offices and other measures. Through these efforts, we aim to improve productivity, achieve work-lifebalance for employees, and foster an autonomous workplace culture.
We have also introduced a flextime work system Core Time*1, which allows employees to decide freely when to start and finish work during core times*2, tocreate a workplace culture that values their initiative, to improve their working efficiency and increase their mental and physical motivation. We are promoting
initiatives that ensure a balance between the needs of the company and the day-to-day experience of our employees.
*1 In June 2020, we revised our core time to 11:15-13:30.
*2 Employees who are involved in work that requires regular working hours may not be eligible.

List of Childcare-Related Systems

65

Initiatives
Fostering an Inclusive Culture

Promoting the Advancement of Women

Women's Activity Promotion Training System

External Evaluations

Fostering an Inclusive Culture
The Olympus Group respects all forms of diversity and takes action to develop an open organizational climate based on mutual acceptance and to help
employees understand the unique issues of each individual and overcome them.
Starting in FY2023, we held a DEI event with the objective of raising company-wide awareness by providing opportunities for employees to exercise“ownership” of DEI. A total of approximately 1,000 employees participated in lectures by outside experts, experience-based events, seminars for specificattributes, and other programs.
During the DEI event period, we also distributed e-learning for all employees, including employees of subsidiaries. The participation ratio for Olympus was
93%. Through this program, we continuously raised the awareness of the 50% of employee who had knowledge before taking the course and provided an
opportunity for an additional 40% of employees to gain knowledge.

Experience-based events

Promoting the Advancement of Women
Olympus and its Japan subsidiaries actively recruit and promote high quality professional and talented people and provide them with opportunities to work in
our company so that all employees can demonstrate their abilities without discrimination based on gender in recruitment, promotion, or salary increases.

Employment: Social: Sustainability: Olympus (olympus.co.jp)

66

As of March 2023, Olympus has 105 female employees in managerial positions with a ratio of exceeding 7%. The ratio of female assistant managers andsection heads who are candidates for managerial positions is 15.4%, and the overall ratio of female employees is 20.6%, both of which are higher than in theprevious fiscal year.
To achieve a good balance between private life and career development, we have introduced various systems for employees with children, including shorter
working hours for periods that exceed legal requirements. We have also established the Olympus Kids Garden, an in-house childcare center, at our
Shirakawa and Hachioji business sites.
Our training system is implemented on an ongoing basis and is designed to develop next-generation leaders, support their careers, and foster a corporate
culture. We also provide training for female leaders to strengthen the skills of candidates for management positions, a mentoring system that encourages
female leaders to think about their careers through dialogue with mentors, support for balancing their work with their career path by providing a place for
employees on childcare leave to network, training for employees returning to work after childcare leave to support early start-up of operations after returning,
and training for managers to learn about the management of diverse human resources.
We also hold networking events for female employees in managerial positions. In FY2023, we had held lectures by an outside expert and a female
Corporate Officers, with total participation of 40 employees.

A networking event for female employees in managerial positions (the CHRO andTraining for managers to promote understanding

RRO also attended)

Olympus Kids Garden, an in-house childcare center at the Hachioji business site

Women's Activity Promotion Training System

67

External Evaluations

Platinum Kurumin
Of the companies that formulate action plans under the Act on Advancement of Measures to Support Raising Next-Generation
Children (Next-Generation Act), those that achieve the targets specified in those action plans and meet certain standards may
apply to be recognized as companies that support the raising of children and receive Kurumin certification from the Minister of
Health, Labour and Welfare.
Olympus and its Japan subsidiaries have developed action plans to implement and continue to work on the Act on
Advancement of Measures to Support Raising Next-Generation Children. As a result, Olympus in 2022, Olympus obtained“Platinum Kurumin Certification,” which recognizes companies that are committed to high standards while promoting ongoing
initiatives. Furthermore, Olympus Terumo Biomaterials was certified a “Platinum Kurumin Certified Company” in 2021, and Olympus Marketing and Aizu
Olympus were certified “Kurumin Certified Companies” in 2020 and 2022, respectively.

Eruboshi
Of the companies that formulate action plans under the Act on the Promotion and Advancement of Women, those that achieve
the targets specified in those action plans and meet certain standards may apply to be recognized as good companies that
implement measures for promotion and advancement of women and receive Eruboshi certification from the Minister of Health,Labour and Welfare.
In 2019, Olympus received Eruboshi certification.

PRIDE Index 2022
Olympus has established a dedicated consultation office in Japan to promote understanding and support for sexual minorities.
We also conducted e-learning and ALLY activities by volunteer to promote understanding of LGBTQ issues.
As a result of these activities, we received a "Silver" certification in the "PRIDE Index 2022," an evaluation index for LGBTQ
initiatives in Japan.

Targets and Achievements Data
【Female】

April 2022

March 2023

April 2023

Female officers
8.8%

9.1%

9.1%

Changes in Females in Managerial Positions

68

April 2022

March 2023

Female section supervisors

14.0%

15.4%

Female employees

20.1%

20.6%

Female new graduates recruited*

25.9%

27.9%

Female mid-career hirings

25.3%

24.7%

Male years of continuous employment*

14.10 years

16.02 years

Female years of continuous employment*

10.90 years

13.01 years

Note: Seconded employees were counted as employees of the seconding company.
Note: In 2023, the scope of employees included in calculations was expanded from regular employees to directly-employed employees, and the calculation period has beenchanged from April to March.
* Female new graduates recruited and years of continuous employment are calculated for regular employees.

【Foreign nationals and other】

April 2022

March 2023

Officers with foreign nationality

32.4%

33.3%

Persons with disabilities*

2.8%

2.8%

* Eight companies of the special group【Childcare related】

FY2022Men who took childcare leave*1*2

41.3%

FY2023
70.2%*Target: 100% (FY2026)

100%

94%*3

Childcare leave period (males)

41.1 days

26.5 days

Childcare leave period (females)

367.4 days

354.1 days

100%

98%

Women who took childcare leave

Women who returned to work after childcare leave

Note: Seconded employees were counted as employees of the seconding company in FY2022, and employees seconded to the Company and to subsidiaries were excluded in
FY202369

*1 In FY2023 for the purpose of calculating the percentage of men who took childcare leave, seconded employees were counted as employees of the company to which they wereseconded.
*2 Men who took childcare leave includes those employees who were eligible to take special paid leave when their wives gave birth.
*3 The percentage of employees who took childcare leave in the relevant fiscal year was 100%, but maternity leave for women who gave birth is included in the childcare leave
period, and consequently, the calculated percentage is 94%.

【Workstyle】

FY2022

FY2023

Annual leave

13 days

12 days

Average legal overtime hours per month

7.0 hrs

8.6 hrs

Telecommuting use*

65.0% of eligible employees used

70.0% of eligible employees used

service at least one day per monthservice at least one day per monthNote: Seconded employees were counted as employees of the seconding company in FY2022, and employees seconded to the Company and to subsidiaries were excluded in
FY2023
Note: In 2023, the scope of employees included in calculations was expanded from regular employees to directly-employed employees.
* Seconded employees who telecommuted were counted as employees of the seconding company.

70

Diversity, Equity and Inclusion in the Americas

The Americas are a melting pot where people of diverse backgrounds live together to form the society. Olympus's employees in the Americas are also
ethnically diverse, and they respect everyone's personality, individuality, culture, religion, nationality, and human rights as they work to create new value.
In 2018 Olympus Corporation of the Americas (OCA), which oversees Olympus's operations in the Americas, set up OCA-authorized networks for Diversity,
Equity and Inclusion (DEI), called CANs (Colleague Affinity Networks), in 17 affiliate centers. At present, there are 10 affinity networks, and all of the CANs
have management as their owners to support DEI activities.
Society has a tendency to focus on the negative aspects and vulnerability of social minority groups. The Olympus Group, on the other hand, strives tocomprehensively understand their background cultures and characteristics in order to achieve great awareness and unexpected discoveries that contributeto the Group's management philosophy.

The management philosophy of the Olympus Group consists of "Our Purpose" and "Our Core Values." All of the activities carried out by the CANs are thepractical implementation of our core values of Integrity, Empathy, Long-Term View, Agility, and Unity. Such activities have started generating new synergy
through stronger mutual understanding and respect, as well as broader communication ranges. They also discover unnoticed individual talents, promoting
the right person to the right position and leading to the revitalization of human resources.

Colleague Affinity Group (CAN) Activities

Black History Month & Habitat for Humanity

71

Asian Heritage Month

Emerging Professionals Mentor Interns

Memorial Day & Veteran’s Day Education

72

Occupational Safety and HealthOccupational Safety and Health

Global Safety and Health Organization

Occupational Injuries Data

Regional Activities

Occupational Safety and Health
The Olympus Group has stated its policies on occupational safety and health and its basic approach to employee health management and the actions
necessary to achieve them in the Olympus Global Code of Conduct.
Under the Code of Conduct, we are developing working environments that ensure safety and health for our employees.
Olympus Global Code of Conduct

Safe and Healthy Workplace
Occupational health and safety is a major priority. We take proactive steps to prevent accidents and occupational illnesses at work. We want our employees
to work in an ergonomic and work-friendly environment. At Olympus, we promote good health and wellness.

What We Do:
Use good judgment and act in a manner that is safe for you and others.
Report safety concerns and work-related injuries or illnesses.
Never joke about violence and report any violent threats or warning signs from others.
Comply with applicable health and safety regulations.
Establishing the Environmental Health and Safety Policy to practice the Code of Conduct, we are developing working environments that ensure safety andhealth for our employees.
Environmental Health and Safety Policy

Promotion Structure and Initiatives

Global Safety and Health Organization
In the Olympus Group, the CEO and the CHRO are appointed as the top executive officers for the occupational safety and health. Also, the Human
Resources Head, who manages human resource development and general affairs including matters related to the environment, health and safety (EHS),
serves as the top management for occupational safety and health affairs for the entire Group. Based on the Environmental Health and Safety Policy
formulated by the Human Resources Head, the EHS division stipulates the policy for EHS efforts each fiscal year and promotes these efforts at each basearound the world. With the aim of complying with laws and regulations and reducing occupational safety and health risks, the Olympus Group promotes
various initiatives at each global site, such as establishing a health and safety management system, conducting risk assessments, risk reduction activities,
employee education and training, internal audits, workplace patrols, risk assessments by outside experts, and so forth.
In FY2023, the Olympus Group promoted health and safety activities with the goals of achieving zero serious accidents and reducing its lost time injuries
frequency rate less than previous fiscal year (0.67) at its global bases. As a result of these efforts, the Group achieved zero serious accidents and reduced
its lost time injuries frequency rate (0.63) less than the previous fiscal year.

73External Certification (Occupational Safety and Health Management Systems)
For the maintenance and continual improvement of our occupational safety and health management systems and to retain the trust of our customers andstakeholders, we are acquiring certification for our occupational safety and health management systems.

Sites

Certification

Year of Certification

Aizu Olympus

JISHA OSHMS Standards*1

2011

Shirakawa Olympus

ISO 45001

2020

Aomori Olympus

JISHA OSHMS Standards*1

2009

KeyMed (Medical & Industrial Equipment) Ltd.

ISO 45001

2020

Olympus Iberia S.A.U.

ISO 45001

2021

Olympus Trading (Shanghai) Limited

Certified as Safe Production Standardized Company

2015*1 JISHA OSHMS Standards Certification: Certification bodies certify sites that comply with the JISHA OSHMS Standards certification conducted by the Japan Industrial Safety &Health Association.

Occupational Injuries Data
The scope of the data on occupational injuries is as follows.
Japan: Olympus Corporation and its major Japan subsidiaries
Americas: Olympus Corporation of the Americas (regional headquarters) and its major subsidiaries
Europe: (FY2023 onwards) Olympus Europa SC & Co. KG (regional headquarters) and its major subsidiaries including sales subsidiaries(Prior to FY2022) Olympus Europa SC & Co. KG (regional headquarters) and its major subsidiaries including sales subsidiaries
Asia/Oceania: (FY2023 onwards) Major manufacturing sites and sales subsidiaries in China(Prior to FY2022) Major manufacturing sites
Prior to FY2022, data from the scientific solutions business are included.

Number of Lost Time Injuries
FY2019Japan

FY20206

FY2021
4

FY2022
2

FY20232

6★

74

FY2019

FY2020

FY2021

FY2022

FY2023

Americas

37

20

4

12

2★

Europe

11

6

16

14

19★

Asia/Oceania

14

8

6

4

5★

Total

68

38

28

32

32★

★ Indexes certified by external assurance.

Lost Time Injuries (of one day or more) Frequency Rate*2 (LTIFR)
FY2019FY2020

FY2021

FY2022

FY2023

Japan

0.20

0.13

0.08

0.08

0.29★

Americas

3.27

1.93

0.39

1.13

0.21★

Europe

1.97

1.07

2.04

1.86

1.54★

Asia/Oceania

1.34

0.77

0.62

0.72

0.62★

Overall

1.17

0.66

0.52

0.67

0.63★

All industries (Japan)*3

1.83

1.80

1.95

2.09

2.06

Manufacturing industry (Japan)*3

1.20

1.20

1.21

1.31

1.20

★ Indexes certified by external assurance.
*2 Lost time injury frequency rate = number of lost time accidents ÷ (number of employees for that fiscal term × work hours) × 1,000,000*3 Survey on Industrial Accidents, Ministry of Health, Labour and Welfare

Occupational Illness Frequency Rate*4 (OIFR)
FY2019Japan

FY20200.07

FY2021

FY20220

FY20230

0

0*4 Occupational illness frequency rate = number of cases of occupational illness that result in lost time*5 ÷ (number of employees for that fiscal term × work hours) × 1,000,000*5 Industrial accidents found in the list of occupational diseases of the Ministry of Health, Labour and Welfare (Appended Table 1-2 of the Ordinance for Enforcement of the Labor
Standards Act (Ordinance of the Ministry of Health and Welfare No. 23 of August 30, 1947))

Number of Fatalities*6
FY2019FY2020

FY2021

FY2022

FY2023

Japan

0（1）

0（0）

0（0）

0（0）

0★（0）

Americas

0（0）

0（0）

0（0）

0（0）

0★（0）

Europe

0（0）

0（0）

0（0）

0（0）

0★（0）

Asia/Oceania

0（0）

0（0）

0（0）

0（0）

0★（0）

Total

0（1）

0（0）

0（0）

0（0）

0★（0）

75

★ Indexes certified by external assurance.
*6 Numbers in brackets indicate contractors

Employee Training
To raise employee awareness of safety and health, the Olympus Group implements a variety of safety and health training programs, led by the safety andhealth officers at each site.

Category

Subjects

Basic training

New employees

Contents
Basic training on safety and health at time of hiring of new employees (safety and health-related laws andregulations, internal management systems, rules, etc.)
Japan: Implemented in April 2022 (52 participants)
China: Implemented within 1 week after entering the company
Asia: Implemented at manufacturing sites in July 2022 (661 participants)

Subject employees

Basic training on safety and health (safety and health-related laws and regulations, risk reduction measures,etc.)
Americas: Implemented from July to August 2022 (4,225 participants)
Europe: Implemented from October to December 2022 for management
Japan: Implemented in March 2023 (3,861 participants in total)

Specialized

Subject employees

training

Hazard experience training through "Anzen Dojo" (Training Center) (Simulated experience of hazards that
may occur in the workplace)
Japan: Implemented at manufacturing sites
Educational training using safety comics to reduce work accidents
Japan: Implemented at manufacturing sites (4,071 participants)
Educational training about compliance with the Poisonous and Deleterious Substances Control Act
Japan: Implemented for managers of manufacturing-use chemical substances and personnel inmanagerial positions (1,333 participants)
Japan: Implemented for personnel in charge of handling poisonous and deleterious substances andmanagers of chemical substance sales divisions (66 participants)
Workshop on occupational well-being and safe production in resumed operations after lockdown
China: Implemented in June 2022 (about 300 participants)

Safety and healthpromoters
Internal auditors

Risk Assessment skill Training
Asia: Implemented at manufacturing sites (24 participants)
Health and safety management system training for internal auditors
Europe: Implemented at manufacturing sites
Japan: Implemented at manufacturing sites

Regional Activities

Activities in Japan

Enhancement of health and safety management system and horizontal deployment of accident-related information
In line with our Occupational Safety and Health Management Rules, we have established a Safety & Health Promotion Committee in Japan. The Committee
consists of representatives of the safety & health promotion committees at each business site and plans activities that help to achieve our safety and healthactivity plan. In addition to the Group’s regular initiatives to improve its current safety and health management system, establish risk management based onrisk assessments, and introduce more employee training and education to raise awareness, in the event of a major health and safety accident, the Olympus
Group holds ad-hoc committees to implement the horizontal deployment of information across all Olympus Group companies in Japan to prevent therecurrence of similar accidents.
Furthermore, at all bases in Japan with 50 or more employees, industrial physicians and health officers conduct workplace patrols stipulated by law, and if
health and safety risks are observed during these patrols, improvements are made as soon as possible at each base.

76

Elimination of hand-held work with single-edge razors in manufacturing processes (Aizu Olympus, Aomori
Olympus)
Safety and Health Management Division and Manufacturing Division collaborated to implement efforts aimed at changing from holding single-edge razors tobox knives, etc., and abolishing work holding single-edge razors by means of the preparation of jigs in order to make the use of knives in manufacturing
processes safer. As a result, it was possible to abolish 100% of work holding single-edge razors at Aizu Olympus by the end of FY2023, and it has
subsequently maintained zero occupational incidents due to single-edge razors.

Educational training using safety comics (Aizu Olympus, Shirakawa Olympus)
To prevent similar accidents and foster a culture in which all employees are involved in health and safety management, safety comics were created based on
examples of accidents that occurred at Aizu Olympus and Shirakawa Olympus, and these safety comics were made available to all employees atmanufacturing bases in Japan to provide easy-to-understand training.

Traffic safety efforts
We implement various efforts at Olympus to prevent traffic accidents at regional sites where
employees mainly commute by car and with company cars used in sales and services divisions.
At Nagano Facility, Shirakawa Facility, and Aomori Olympus, managers check the switch tostudless winter tires in winter to make it sure to switch them.
Further, Olympus sites participate in the safety rallies hosted by each prefecture’s Traffic Safety
Association each year, which connects to the improvement of awareness of traffic safety.
In sales and services divisions, telematics is installed on their company cars to improve drivers’
observance of traffic rules and driving manners.

Activities in Americas

Implementing environmental health and safety training(Olympus Corporation of the Americas)
Olympus Corporation of the Americas implements online basic environmental safety and health training for all employees every year. In FY2022, in addition
to training on regulatory topics such as the safety of chemical substances and environmental management systems, the company strengthened the program
by including content on ergonomics and the safe handling of heavy objects. From FY2022, it expanded the range of trainees from employees in the UnitedStates of America alone to employees in all regions of the Americas, and in FY2023, 4,225 employees participated in the program.

Spreading awareness through health and safety newsletter and digital signage(Olympus Surgical Technologies America)
At Olympus Surgical Technologies America, efforts to spread awareness of cautions regarding matters such as mold prevention measures, pest
countermeasures, handling sharp objects, etc., among all employees are carried out through a monthly e-newsletter and digital signage about topics that are
essential to achieving health and safety.

77

Activities in Europe

Holding of Occupational Safety Committee(Olympus Europa SE & Co. KG)
At Olympus Europa SE & Co. KG, an Occupational Safety Committee is held four times a year by bringing together the safety managers of each workplace.
Here, discussions take place about the implementation of risk assessments, the integration of operation management, measures against COVID-19, andremote work.

Confirming risk-reduction activities at local subsidiaries in Europe(Olympus Europa SE & Co. KG)
Olympus Europa SE & Co. KG endeavors to reduce occupational incidents by collecting information relating to health and safety from local sales
subsidiaries spanning across the whole of Europe to check whether risk assessments are carried out and whether major lost time injuries have occurred.

Maintenance of ISO 45001 certification and establishment of new e-learning portal(KeyMed (Medical & Industrial Equipment) Ltd.)KeyMed (Medical & Industrial Equipment) Ltd. is engaged in efforts to reduce work accidents and incidents through maintaining the ISO 45001 certificationacquired for all sites in January 2021 and operating its management system.
In FY2023, a new online education portal was set up that integrates educational content on the topics of health and safety, well-being, and the environment.
By providing educational content that makes use of easy-to-understand videos and illustrations, creative efforts were made so that participants canunderstand the content intuitively, thereby advancing every employee’s understanding of health and safety, well-being, and the environment.
Furthermore, in addition to the in-house educational training of employees, work-experience training was conducted for local high school students in which
they took a tour of the facilities, participated in hazard prediction exercises, and received a general explanation of ISO 45001 in order to learn how well-being
and safety are managed in the workplace.

Activities in China

Renewing, auditing, and reporting of certification as a manufacturing safety standardization company(Olympus Trading (Shanghai) Limited)
Olympus Trading (Shanghai) Limited has developed a safety production management system that includes manufacturing safety, industrial health andworkplace environment evaluations in compliance with the basic requirements of corporate safety production standards mandated by the Shanghai
Emergency Management Bureau. The company has established a policy and targets for manufacturing safety, set up a committee, assigned detailed
responsibilities and produced an emergency response manual, all aimed at putting top priority on safety, prevention and total management. It also organizes
annual emergency response drills. The company’s certification as a manufacturing safety standardization company was renewed in FY2023 in association
with the relocation of the Service Operation Center. The company analyzes the risks and looks at case studies of manufacturing safety on a regular basis, atthe same time working to improve employee awareness of manufacturing safety through a range of training programs.

78

Risk-reduction efforts and education and emergency drills(Olympus (Guangzhou) Industrial Co., Ltd.)
Olympus (Guangzhou) Industrial Co., Ltd. strives to minimize the risks of production processes and fire-fighting equipment by implementing production
safety audits and fire-fighting safety audits every quarter and taking corrective measures as and when necessary for matters that require addressing.
Furthermore, the company adopts a system in which it can promptly and appropriately address emergencies if they occur. This is done by carrying out avariety of emergency response training for relevant personnel, such as training on how to handle ethylene oxide gas (EOG) leaks, training on emergency
measures for steam burns in autoclave facilities, and workshops on first aid skills.
In FY2023, activities that consider the well-being and work environment of employees were carried out to reduce the noise generated during the operation of
the dust collector by surrounding it with soundproofing materials. Furthermore, to reduce the risk of accidents occurring while commuting to work, local police
officers were invited to provide road safety training to increase employees’ awareness of road safety through examples of road traffic accidents introduced by
the police officers.

Activities in Asia/Oceania

Occupational health and safety monthly patrols and facility inspections by an external organization(Olympus Vietnam Co., Ltd.)
Olympus Vietnam Co., Ltd. forms a risk assessment team every month to carry out patrols of the work areas. If risks or non-compliance are discovered
during these patrols, corrective measures are taken as soon as possible. Also, in FY2022, May was made Occupational Health and Safety Month, with
“Kaizen Contest for Occupational Health and Safety” held and 16 employees awarded for suggesting excellent ideas to improve safety. Furthermore, work
environment measurements were taken by an external organization to strive to make the work environment safer and healthier in consideration of the wellbeing of employees.

Revision of Safe Driving Policy(Olympus Australia Pty Ltd.)
Olympus Australia Pty Ltd. has formulated company rules on safe driving for field staff. In FY2023, the Safe Driving Policy was revised, stipulating that field
staff must carry a satellite phone with them to help mitigate the risks associated with moving out of cellular network coverage while undertaking long-distanceroad trips and making it mandatory to maintain communication with one’s supervisor through a business trip plan and a checklist before and after businesstrips.

79

Health Management and Better-Health Promotion

Basic Approach and Policy

Initiatives in Japan

External Certification

Overseas Activities

Basic Approach and Policy

Background
The Olympus Global Code of Conduct states that “Safe and healthy workplace is a major priority. We take proactive steps to prevent accidents andoccupational illnesses at work and promote good health and wellness as well as work-friendly environment.” Based on this policy, efforts to promote thebetter health of employees are regarded as an important factor in supporting the sustainable growth of the company, with the company actively
building/maintaining a Health Promotion System and engaging in concrete initiatives.

VisionThe Olympus Group sets out to achieve the following goals through its health management and better-health promotion initiatives:
1. To maintain a workplace environment where each employee is healthier and can work energetically.
2. To be a company where the better health of employees contributes to the stabilization of business management and better performance.

Priority Measures
The following are the two priority measures to be implemented by the Olympus Group to achieve its vision:
1. Having employees understand that they perform at their best when both their physical and mental well-being are in good shape, and promoting
improvements in the health awareness and healthy behavior of each employee.
2. Fostering a healthy organizational culture, as well as fostering a workplace environment where employees can perform at their best with both their
physical and mental well-being in good shape.

Initiatives in Japan

Background to Initiatives
In 2008, a department to promote and oversee the health activities of employees was set up in the Human Resource Division of Olympus Corporation andbegan the centralized management of Japan subsidiaries while liaising with the Health Insurance Association. Since then, this department hasestablished/maintained an industrial health system, health management operation rules, and a health management system, and promoted efforts based on
the outcomes of these initiatives.

The Olympus Health Declaration
The Olympus Global Code of Conduct states that “Safe and healthy workplace is a major priority. We take proactive steps to prevent accidents andoccupational illnesses at work and promote good health and wellness as well as work-friendly environment.” In Japan, also including Japan subsidiaries, weestablished the Olympus Health Declaration to help maintain and improve the health of employees and their families.
In line with the announcement of the Health Declaration, action to prevent passive smoking is to be made a priority. At the same time, we are introducing
measures to help employees to become healthy and stay healthy, including advice with lifestyle improvements, recommendations and financial assistance80

with screenings to catch cancer at an early stage, and how to avoid mental health problems.
In this way, the Olympus Group wants to create a corporate culture that encourages employees to be healthy, both physically and mentally and for everyone
to lead healthy and happy lives.

Olympus Health Declaration

Realization of a Better Livelihood and HappinessOur corporate philosophy is to contribute to society by “Making people's lives healthier, safer and more fulfilling.” We believe this is possible with thesupport of healthy employees and their families with vitality.
Olympus places top priority on the health of its employees and their facilities through the following activities.
1. Olympus regards employee health as an important management issue and is committed to a corporate culture that places top priority on
employee safety and health.
2. Olympus will continue to create a workplace environment where employees are able to work with vitality and good physical and mental health.
3. Olympus cooperates with the Health Insurance Association to support better health to each and every employee and their families.

Health Promotion System
Based on the plan for efforts each fiscal year, the Human Resources EHS Department leads the promotion of efforts across all Olympus’ group companies inJapan while working in unison with the Health Insurance Association, industrial health care personnel, and industrial physicians.

Health Management Strategy Map
By creating a Health Management Strategy Map that clarifies the ties between the initiatives relating to health management/better-health promotion of
employees and management issues, and adopting absenteeism (average number of days off) and presenteeism (degree of fulfillment of work capacity) as
health management indexes, initiatives to promote the better health of employees are actively ongoing.

81

Indicators regarding the implementation status of health investment measures
Improvement in the rate of undergoing detailed medical examination

Targets and Priority Measures for Health Management and Better-Health Promotion
Based on the Health Management Strategy Map, by adopting (1) creating good lifestyle habits, (2) physical exams and follow-ups, cancer screenings, and(3) creating mental health as priority measures, various initiatives are actively ongoing to improve absenteeism and presenteeism, which are target indexes.

Creating good lifestyle habits
Creating good lifestyle habits is very important to prevent lifestyle diseases and maintain good physical and psychological health. Olympus’ group companies
in Japan have set five good lifestyle habits and are continuing to make improvements in each index.

Index
Overall

Five good

Target

The average number of habits possessed from the five good lifestyle habits

Exercise

Exercising for at least 30 minutes a day, twice a week, for at least a year

Rest

Ease of falling asleep, regular sleep, sleep duration, sleepiness during the day

Healthy

Eating breakfast every day, whether one eats snacks or not, nutritional balance, calories consumed

diet

An improvement
on last year

lifestyle habits
Not

Smoking status each day (including electronic cigarettes and heated cigarettes)

smoking
Not

Drinking alcohol no more than four days a week

drinking
too much

Regular physical examinations and follow-Ups, cancer screening
Undergoing physical examinations and understanding/improving the results of physical examinations are basic initiatives in terms of health management.
Adopting the percentage of employees who undergo regular physical examinations and the percentage of employees who undergo cancer screenings as
indexes, initiatives to make improvements are ongoing.

Index
Percentage of employees
who undergo regularBlood pressure

TargetAn improvement on last
year

82

Indexphysical examinations

TargetBlood lipids
Blood sugar

Percentage of employees

Stomachwho undergo cancer
screenings

Colon
Breast cancer
Uterine cancer

Creating mental healthWith living and work environments changing significantly, mental health is becoming an increasingly important factor. Adopting the percentage of employeeswith high stress evident in stress check results as an index, a broad range of improvement measures are being rolled out such as stress prevention
measures, responding to employees with stress issues, and supporting the reinstatement of persons returning from leave.

Index
Percentage of employees with high stress

TargetAn improvement on last year

External Certification

Survey on Health and Productivity Management and Certified Health and Productivity
Management Outstanding Organization (White 500) Certification
Olympus’ activities were highly evaluated in the fiscal 2023 Survey on Health and Productivity Management. This included receiving an industry-leadingscore in the precision machines category, and being recognized as a Certified Health and Productivity Management Outstanding Organization (White 500)
for the seventh year running.
In particular, publicly releasing details of our health promotion system and health management strategy map, establishing evaluation indicators for priority
policies, and enhancing our review activities, contributed to improved scores for items such as “management philosophy and policies,” and “evaluations andimprovements.”
Our affiliated companies Olympus Marketing and Aizu Olympus Corporation were at the same time recognized as Certified Health & Productivity
Management Outstanding Organizations.

オリンパス

オリンパスマーケティング
会津オリンパス

Ministry of Economy, Trade and Industry (METI) Certified Health & Productivity Management Outstanding Organizations Recognition Program
Survey on Health and Productivity Management Results (precision machines and other products; pdf)

Sports Yell Company Certification
83Olympus has been certified as a Sports Yell Company for three consecutive years by the Japan Sports Agency for being a company thatworks positively on the promotion and support of sports activities to promote the health of employees. In particular, its initiatives
considerate of employee health such as working on eliminating the lack of exercise due to the COVID-19 pandemic were evaluated highly.
Further, our affiliated companies Olympus Marketing and Olympus Terumo Biomaterials were also awarded Sports Yell Company
certification in 2023.

March 1, 2023, Certification of Olympus as a Japan Sports Agency, “Sports Yell Company 2023”

Specific Initiatives

Creating Healthy Lifestyle Habits
Developing healthy lifestyle habits is an important factor in preventing and ameliorating lifestyle-related diseases. Medical professionals at each of our sites
take the lead in implementing a variety of activities to support proactive steps to achieve this by our employees.

Examples of activities in FY2023
・16 exercise seminars (including classroom-based lectures)conducted between January and March, with the participationof approximately 1,500 employees
Online videos

・83% of participants indicated the program added to theirmotivation to exercise (from survey results)(all Japan subsidiaries)

Exercise・Conducted four times annually for periods of around one
month
Walking campaigns

・Participation of around 2,500 employees (all Japansubsidiaries)

・Healthy meal options offered at theemployee cafeteria tailored to seasonal events

Food

Collaboration with
employee cafeteria

・Implementation of bone strength, vascularage, and other measurements (Hachioji
Facility: three times per year; Shirakawa
Facility: daily; Nagano Facility: three times per
year)

・Complete implementation of a total non-smoking policy at all sites by the end of March 2021
・Implementation of smoking cessation support by health care personnel for smokers
・Provision of subsidized assistance by the Health Insurance Association to cover the full cost of
Smoking

Smoking cessationsmoking cessation treatment
・Outcome: 15.9% reduction in smoking rate by the end of March 2023 (down 0.5% on previous
year)(all Japan subsidiaries)

Information and

Health portal site

・Introduction of the Wellness Spot Navi at the Health Insurance Association, to encourage healthmanagement by all individuals (entire Olympus Group)

educational
campaigns

Distribution of
newsletter

・Regular distribution of information by health promotion topic; 11 times in FY2023(all Japan subsidiaries)

Regular Physical Exams and Follow-ups, Cancer Screenings
84Regular physical exams and follow-ups
Conducted mainly by industrial doctors and medical staff permanently stationed at each site, we thoroughly implement regular health examinations and,based on post-exam measures, interviews and follow-up. We are also enhancing our efforts to encourage employees in whom health issues have been
detected, and others who require them, to undergo full medical examinations.

Cancer screenings
At Olympus, we incorporate endoscopic tests using our own products into the health-exam menu toward the early detection and early treatment of cancer.
We also actively encourage undergoing screenings, and have maintained high rates for both (72.7% for gastrointestinal endoscopies and 62.5% forcolonoscopies in FY2023).
The Health Insurance Association fully subsidizes the costs of examinations, including those for family members, with some exceptions. The full support itprovides also includes that for gynecological examinations in all age brackets.
In addition, we hold regular e-learning sessions and seminars to improve employee’s knowledge of cancer and to promote higher uptake for cancer
screenings.

Cancer screening test support system
Examination Item

TargetEncouraged Yearly Interval*

Health Insurance Cost Subsidy

Stomach cancer (endoscope)

35 years and older

100% coverage

Once every two years

Stomach cancer (pepsinogen

35 years and older

100% coverage

Year that gastrointestinal endoscopy is not

examination)

undertaken

Colorectal cancer (endoscope)

35 years and older

100% coverage

Once every three years (40 years and older)

Colorectal cancer (fecal occult blood

35 years and older

100% coverage

Year that colonoscopy is not undertaken

Breast cancer/Cervical cancer

Women of all ages

100% coverage

Once every two years

Prostate cancer (PSA marker)

Men 50 years and100% coverage

Once every two years

test)

older
Abdominal ultrasonography

40 years and older

100% coverage

Once every two years

Lung cancer (lung helical CT)

40 years and older

50% (upper limit of ¥5,000 yen,

Individual decides whether to receive healthincluding tax)

exam

* Consultation encouraged: For those who have not yet taken the exam for certain period from the target age (those who have not yet taken an exam within the encouraged yearlyinterval).

Creating Mental Health
At Olympus, mental health is positioned among our priority issues, and we are deploying measures to promote mental health taking in various angles. In
addition, the content of mental health programs is being enhanced to reflect the extreme changes in lifestyles and work styles of recent times.
Uniform stress checks are conducted at Olympus Corporation and its Japan subsidiaries. The rate of those taking stress checks has remained above 90%
each year and, besides conducting appropriate interviews with employees with high stress, we are also strengthening individual consultation and follow-up
activities.

Activities in FY2023
85

Self-care

1) Mental health education
・Implementation of self-care e-learning seminars for all employees
・Implementation of self-care seminars by medical professionals for new employeesLine care1) Administrators education/support
・Implementation (online/in-person) of mental health seminars for administrators by rank

Care by industrial health care1) Consultation services/return to work support

personnel at business sites

・Industrial physicians and medical professionals stationed at each site are available for consultation by
employees and administrators. Appropriate responses are implemented in line with the content of consultations.
2) Interview with new employees
・Implementation of one-on-one interviews with all new employees and mid-career hires to support their education
and understand their circumstances

Care provided by resources

1) External psychologists, etc.

outside the business site

・Implementation of one-on counseling by external psychologists by individual case・Implementation of education seminars by external psychologists
2) Establishment of external consultation services
・Establishment of external services for consultation on healthSupport for Treatment and Continuing to WorkAt Olympus, we emphasize the prevention of diseases and serious illnesses through each of our health management and promotion initiatives. At the sametime, we promote proactive support measures for those who are recovering from illnesses from the perspective of helping them achieve a balance between
their treatment and work, and create an environment in which employees can engage in their work in peace of mind. Specifically, industrial physicians andnurses permanently stationed at each site compile concrete assistance plans from recuperation to return to work for employees in need of medical treatment,
making full use of paid leave, flextime, work-at-home, and other systems. To provide greater employee assistance, a special leave program was introducedin April 2020 for employees suffering from a disease for which the Ministry of Health, Labour and Welfare recommends support.

Women’s Specific Health Support
We are promoting support activities to address women’s specific health issues. In FY2023, as in FY2022, we hosted an online seminar by an outside lecturer(physician) on the topic of “Gynecological Malignant Tumors and Menopausal Disorders.”
Participants: 180 men and women; streamed in an on-demand format: 1,700 views
Survey evaluation: 99% of participants or viewers indicated their satisfaction with the seminar content
Going forward, we will continue to actively deploy initiatives focused on women's specific health issues.

Health Support for Expatriate Employees
As of the end of FY2023, there are approximately 150 Japanese expatriate employees stationed at our overseas sites.
Industrial physicians, health care personnel and nurses are assigned to provide consultation on everyday matters of health, in addition to counseling before
departure and on return to Japan as health support for expatriate employees. This initiative includes support for both expatriate employees and their families.
In addition to the statutory health examinations for expatriate employees required on departure and return to Japan, employees can undergo physicalexaminations (for the items covered in the comprehensive medical examination) during temporary returns to Japan. We are thus working to ensure thatphysical examinations are taken, as well as to enhance post-medical examination measures based on the results of examinations.
Further, industrial physicians are dispatched on a regular basis to overseas subsidiaries to upgrade the quality of health management for expatriate
employees.

Action on Infectious Diseases
In addition to general precautionary measures, we have developed our own in-house guidelines to combat infectious diseases and implement appropriate
measures aligned to the needs of particular work duties.

86Examples of activities in FY2023
Implementation of Hepatitis B antigen/antibody tests and vaccinations for all employees who visit medical institutions in the line of their work duties
Education on preventing infectious diseases
Drafting of vaccination guidelines and implementation of vaccinations for expatriate employees, their families, and those undertaking business trips
Partial coverage of expenses for influenza vaccination
COVID-19 vaccination at workplaces (26,755 employees, including contractors and temporary employees, were vaccinated over the first, second, third,
and fourth rounds of vaccinations at all Olympus workplaces in Japan in FY2022 and FY2023.)

Other Support Activities for Partner Companies
Besides Olympus’ provision of health support to both our employees and their families, we also offer such support to our partner companies.

Examples of activities in FY2023
Joint implementation of workplace vaccinations
Held a health management seminar at a general meeting for distributors (conducted by the supervising industrial physician)Activity Results
Item

Respective topics and outcomes
FY2022Creating five
healthy lifestyle

FY2023

activities

Average number (persons) with five healthy
lifestyle habits

habitsTarget for

3.5

3.4

Improve overprevious year

Topic

Item

Unit

FY2022

FY2023

%

100

100

%

15.4

16.1

Blood lipids

%

28.5

28

Blood sugar

%

6.8

6.9

％

15.8

19.5

％

99.1

99.5

Stomach cancer

%

82.9

83.2

Colorectal cancer

%

80.4

80.7

Breast cancer

%

74.4

74.5

Uterine cancer

%

69.2

69.3

Rate of taking medical
examinations(excluding long-term
absentees)

Regularmedicalexamination& postMedical

medicalexamination &examination

post-medical

measures

Rate ofBlood

employees

pressure

in whom
healthissuesweredetected

examination
measures

Rate of follow-up

Cancer screening

interviews
Rate of implementation offollow-up interviews

Cancerscreening

87

Item

Respective topics and outcomes
Rate of taking of stress

%

90.9

91.8

%

15

14.8

%

100

100

Absenteeism※1

Days per person/year

0.99

Presenteeism※2

%

-

%

-2.3%

checksPercentage
Creating mental
healthofemployees

Rate of employees withhigh stresswith highstressRate of employees wishing
to avail of consultations
who underwent
consultation

Rate change compared to previous year on health careexpenditures per employee

Scheduled to bereflected in June

7.7

(to be calculated in
March 2024)※ 1 Total yearly average for all employees of absences from non-occupational injuries or accidents※ 2 Rate of self-evaluations of 69% or lower from surveys using University of Tokyo Single-Item Presenteeism Question (0-100%)

Overseas Activities

North America

Olympus Corporation of the Americas (U.S.A)

OCA Be Well Program
The Be Well program provides various resources and wellness activities to support overall employee well-being in the physical, emotional, environmental,
economic, and social domains. Every week, virtual classes are held on “Wellness Wednesday,” focusing on mental health and well-being, nutrition, work-lifebalance, and fitness. In FY2023, we collaborated with external experts to promote 56 wellness classes, conducted over 30 in-person wellness education
sessions, and issued a monthly wellness newsletter. We also organized monthly courses targeting over 1,000 employees and their families, available online
and on demand. Additionally, we raised employee awareness through activities such as Colorectal Cancer Awareness Month, Lung Cancer AwarenessMonth, and a Health Challenge (step count and walking).

Mental Health Awareness Training
We have initiated training courses aimed at increasing awareness of mental health, including general signs and symptoms of mental health issues. In
FY2023, in collaboration with the Diversity & Inclusion department, we conducted a “Mental Health Seminar by Certified Physicians” for members of the88mental health support team, with nine employees participating. Additionally, we organized mental health training for managers, with 85 employees taking partin the program.

Know Your Number Challenge
We conducted an event called the “Know Your Number Challenge” for all employees, aiming to educate them about their BMI, blood pressure, cholesterollevels, and blood sugar levels.

EuropeOlympus Europa SE & Co. KG (Germany)First Aid Training
There are 74 first aiders (individuals trained in first aid) within the company, and 24 field staff members who have received training. In FY2023, a total of nine
first aid trainings were conducted (in house), and many employees who are proponents of first aid participated.

Healthy Living
As part of a health campaign, we collaborated with a company that operates fitness studios to conduct online seminars focusing on ergonomics for homeoffices and company offices, and on healthy nutrition.

Olympus UK & Ireland (U.K.)

Chiropractic event
We had screenings conducted by chiropractors from a chiropractic clinic, with 28 employees participating.

Mental Health First Aider Training
We conducted training sessions on acquiring tools and techniques for addressing mental health issues, and the participants are now actively serving as
internal counselors within the company.

China/Hong Kong

Olympus Corporation of Asia Pacific Limited Hong Kong (Hong Kong)

2022 Work-Life Balance Week
We organized an event called “Work-Life Balance Week” with the aim of achieving a balance between work and personal life and enhancing healthconsciousness. We established various themes such as dietary habits, exercise, self-care, and positive work habits. We conducted daily activities to promotecollaboration and enjoyment among participants during the event.

89

Olympus (Beijing, Shanghai) Sales & Service Co., Ltd. (Beijing, Shanghai)

Lectures on Mental Health
We held a mental health seminar on stress management techniques and on mindsets, with 65 employees participating.

Lecture on Protecting Teeth HealthA seminar conducted by a dentist on maintaining oral hygiene was held, and dental check-ups were provided, with 60 employees participating.

Olympus (GuangZhou) Industrial Co., Ltd. (Shanghai)

Implementation of Health Month Activities
As part of Health Month, all employees were encouraged to strengthen their health awareness and develop healthy habits. They set a monthly step countgoal on an app, and 79 employees (69%) successfully achieved their goals.

Asia/Oceania

Olympus Singapore Pte. Ltd. (Singapore)First Aid Training
Employees participated in first aid training organized by the Red Cross with the aim of being able to provide first aid in emergencies and manage emergency
situations. They acquired the knowledge and skills necessary for methods that include bandaging, immobilizing fractures, and effective CPR.

Olympus Korea Co., Ltd. (Korea)

Going-on Walk
Every year, we organize an activity called “Going-on Walk” with the aim of raising awareness about cancer, promoting participants' health, and engaging inenvironmental clean-up efforts. Cancer survivors and employees walk together while picking up litter. In 2023, a total of 67 cancer survivors, employees, andtheir families participated in the activity.

90

Olympus (Thailand) Co., Ltd. (Thailand)

Improve Annual Health Check Up
We have expanded our health screening program, offering gastroscopies (for individuals aged 35 and above) and colonoscopies (for individuals aged 45 andabove) in 2022. In addition, to promote endoscopic examinations, we have appointed ambassadors who actively share the need of undergoing thesescreenings and encourage participation.

Olympus Australia Pty Ltd (Australia)

The Run for the Kids
We have been participating in the "Run for the Kids" community event in Melbourne for 14 consecutive years, which encourages exercise among employees
and promotes healthy habits.

91

Supporting physician development in emerging countries

Olympus endoscopes are used for diagnosis and treatment all over the world, contributing tomaking people’s lives healthier, safer everywhere.
In particular, in emerging Asian countries, factors such as the westernization of eating habits
attributable to rapid economic growth in recent years have led to an increase in diseases (noncommunicable diseases) such as cancer, for which countermeasures are urgently needed.
Olympus believes it can contribute to improvements in local healthcare standards bydisseminating Japan’s superior medical technology and services. Together with Japan’s
government organizations and relevant academic societies, Olympus is working on international
cooperation initiatives, such as supporting the development of physicians, through collaborative
efforts involving industry, government, and academia.
In recent years, Olympus has carried out efforts in Vietnam, which suffers a shortage in the number of endoscopists. In Vietnam, a country that has enjoyedtremendous economic growth, the number of cancer patients is increasing year on year. While an increase in demand for endoscopy, which are essential forearly diagnosis and treatment of stomach cancer and colorectal cancer, is expected, there is a shortage in the number of physicians that possess thenecessary knowledge and skills to carry out these endoscopy. That is why Olympus, based on collaborative efforts involving industry, government, andacademia, has implemented multiple training projects for local physicians led by Japanese physicians. Olympus has also assisted in the creation ofdiagnosis guidelines in line with the state of healthcare in Vietnam, as well as tested the utility of using an endoscopic diagnosis support system* equippedwith the latest AI technology in Vietnam.
Olympus believes that these efforts can contribute to resolving issues and advancing healthcare in countermeasures against cancer in Vietnam in the years
to come. Such initiatives have been rolled out to the likes of Thailand and India, contributing to the health, peace of mind, and emotional fulfillment of people
everywhere, including emerging countries.
*An endoscopic image diagnosis support software that assists physicians in making a diagnosis by using AI to help determine whether there are any lesions

in the images of an endoscopy.

Training held in Ho Chi Minh City, Vietnam

Certificates presented to traineess after the completion of their training in Japan

92

Contributing to Medical Development

Participating in the Medical Industry Organizations

As a global medtech company, Olympus participates in medical industry groups in each country and region and contributes to the development of the
medical industry. Membership fees are set for each group according to the company size and the business scale.

Membership fee payment
Name of the organization
FY2020

FY2021

FY2022

FY2023

Medical Excellence JAPAN

¥1,500,000¥1,500,000¥1,500,000¥1,500,000

Advanced Medical Technology Association (AdvaMed)

US$591,440

US$590,262

US$595,603

US$596,770

Medical Alley Association

US$7,500

US$8,000

US$8,400

US$ 0

Medtech Europe

119,533 €122,000 €122,271 €

140,012 €The Asia Pacific Medical Technology Association (APACMed)

US$50,000

US$50,000

US$50,000

US$50,000

Japan Electronics and Information Technology Industries Association (JEITA)¥8,004,960¥9,694,300¥8,160,000¥9,792,000Japan Medical-Optical Equipment Industrial Association (JMOIA)¥3,575,550¥3,650,350¥3,519,450¥3,519,450

Medical Technology Association of Japan (MTJAPAN)¥1,200,000¥1,700,000¥1,700,000¥1,450,000

Japan Association of Medical Devices Industries (Jamdi)¥444,000¥444,000¥444,000¥444,000

Medical Device Strategy Institute, Japan Association for the Advancement of Medical¥400,000¥410,000¥410,000¥410,000¥300,000¥300,000¥300,000¥300,000---

US$10,500

Equipment (JAAME)The Japan Federation of Medical Devices Associations
MassMEDIC - The Heart of HealthTech

93

Social Data

Updated September 29, 2023

*Figures for each fiscal year are subject to change from past disclosures due to revision of definitions, etc.
*Data up to FY2021 includes figures for the imaging business transferred on January 1, 2021*★ indicates data that has received a third-party warranty.
＞Independent Assurance Statement Related to Environmental Data

Diversity, Equity, and Inclusion*Data up to FY2023 includes figures for the scientific solutions business transferred on April 3, 2023

Number of employees
FY2019FY2020

FY2021

Global35,12435,174Olympus Corporation

FY2022

FY202331,65331,557

32,844
2,727

9,242

8,550

4,775

3,478

Full-time employees

8,459

7,755

4,232

2,995

2,319

Men

7,248

6,550

3,473

2,359

1,727
147

969

965

390

229

30s

2,066

1,878

800

480

372

40s

2,302

1,953

1,025

680

509

50s or older
Women

1,911

1,754

1,258

970

699

1,211

1205

759

636

592

302

300

132

86

65

20s and younger

20s and younger
30s

472

443

254

219

221

40s

359

370

272

229

212

50s or older
Excluding full-time employees

78

92

101

102

94

783

795

543

483

408

Men

454

471

252

234

189

9

5

38

35

28

20s and younger
30s

29

27

58

55

50

40s

37

32

73

76

57

50s or older
Women

379

407

83

68

54

329

324

291

249

219

22

20

31

26

23

30s

99

89

58

49

41

40s

129

123

107

94

84

50s or older

79

92

95

80

71

Overall Japan Subsidiaries *1

6,156

6,333

8,792

9,379

10,192Full-time employees

4,257

4,417

6,808

6,854

7,839

Men

2,840

2,902

4,866

4,910

5,765

20s and younger

833

835

1,169

1,128

1,129

30s

889

891

1,455

1,502

1,681

40s

663

679

1,264

1,325

1,625

50s or older
Women

455

497

978

955

1,330

1,417

1515

1,942

1,944

2,074

612

632

729

734

706

30s

426

455

632

620

632

40s

275

317

435

435

518

20s and younger

20s and younger

50s or older
Excluding full-time employeesMen
20s and younger
30s

104

111

146

155

218

1,899

1,916

1,984

2,525

2,353

579

612

1,176

1,394

1,226

205

206

229

284

166

176

181

339

500

397

40s

86

97

289

324

307

50s or older
Women

112

128

319

286

356

1,320

1,304

808

1,131

1,127

94

247

232

146

181

126

30s

453

441

280

410

401

40s

419

416

266

383

409

50s or older

201

215

116

157

191

20s and younger*1 In FY2023, the following 12 companies: Olympus Medical Systems, Olympus Marketing, Nagano Olympus, Aizu Olympus, Aomori Olympus, Shirakawa
Olympus, TmediX, Olympus Digital System Design, Olympus Terumo Biomaterials, Olympus-Supportmate, Evident, Evident Nagano. Please refer to each
year's report for the number of companies and company names for other years）

Number of foreign employees
FY2019FY2020Olympus Corporation
Men
Women
Overall Japan Subsidiaries

FY2021

FY2022

FY2023

52

55

35

40

53

30

32

17

24

33

22

23

18

16

20
35

20

16

17

35

Men

14

6

10

22

22

Women

6

10

7

13

13

Percentage of employees with disabilities ※2
FY2019FY2020Japan

2.3

FY2021
2.33

FY2022
2.63

FY20232.58

2.78*2 Eight special-purpose subsidiaries (In FY2023, the following companies: Olympus, Olympus Medical Systems, Olympus Marketing, Nagano Olympus, Aizu
Olympus, Aomori Olympus, Shirakawa Olympus, Olympus- Supportmate. Please refer to each year's report for the number of companies and company names
for other years)

Number of employees with disabilities * (persons)
3

FY2019Olympus Corporation

FY2020

FY2021

FY2022

FY2023

118

95

106

274

263

ー

167

187

ー

ー

Overall Japan Subsidiaries*3 Since FY2022, number of employees with disabilities at special-purpose subsidiaries has been described.

Number of reemployed retired workers *4 (persons)
FY2019FY2020

FY2021

FY2022

FY2023Olympus Corporation

100

381

289

157

166

Overall Japan Subsidiaries

87

124

165

ー

178

*4 Number of reemployed retirees.

Number of employees taking childcare leaves (persons)
FY2019Olympus Corporation
Men
Women
Overall Japan Subsidiaries
Men
Women

Work-from-home system users*5 *6

FY2020Men
Women
Overall Japan Subsidiaries

FY2022

FY2023

146

124

109

43

13

21

29

28

9

143

125

95

81

34

163

162

237

325

214

2

9

35

62

83

161

132

202

263

131

(persons)
FY2019Olympus Corporation

FY2021156

FY2020

FY2021

FY2022

FY2023

162

828

4,775

3,478

2,727

17

432

3725

2,593

1,916

145

396

1,050

885

811

102

272

6,007

6,974

8,483

Men

52

182

4537

5,077

6,362

Women

50

90

1,470

1,897

2,121

*5 Individual basis (not total number of people)*6 In FY2021 and FY2022 we restricted employees from coming to office as a measure to prevent the spread of COVID-19. The numbers in FY2021 andFY2022 include many temporary cases of the work-from-home system under the restriction.

95

Average overtime hours (hours/fiscal year)
FY2019FY2020

FY2021

FY2022

FY2023Olympus Corporation

185.3

141.4

78.9

94.8

102.4

Overall Japan Subsidiaries

215.2

121

71.9

68.0

114.0

Average number of paid holidays actually taken (days/fiscal year)
FY2019FY2020

FY2021

FY2022

FY2023Olympus Corporation

12.9

11.9

11.4

12.4

13.6

Overall Japan Subsidiaries

11.2

11.4

10.4

11

12.7

Managers*Data up to FY2023 includes figures for the scientific solutions business transferred on April 3, 2023

Number of managers (persons)
FY2019Olympus Corporation
Men

FY2020

FY2021

FY2022

FY2023

1,998

1,707

1,089

898

732

1,929

1,653

1,033

836

656

Women

49

54

56

62

76

Overall Japan Subsidiaries*8
Men

278

260

595

696

1,084

276

258

581

676

1,040

Women

2

2

14

20

44

Rate of women in management roles
FY2019Japan*7

FY20203.3

FY2021
3.6

FY2022
4.6

FY20236.0

7.2*7 Managers of Olympus Corporation for fiscal year 2023, as of March 1, 2023. Prior to fiscal year 2022, figures are based on the definition of each fiscal year.

Recruitment*Data up to FY2023 includes figures for the scientific solutions business transferred on April 3, 2023

Number of newly employed (persons)
FY2019FY2020

FY2021

FY2022

FY2023Olympus Corporation

369

332

93

241

243

Overall Japan Subsidiaries

603

499

460

281

158

Rate of newly employed*8
FY2019Olympus CorporationMen

30s and younger

FY2020

FY2021

FY2022

FY2023

7

4.6

1.1

4.2

9.3

10

6.8

1.6

10.5

8.7

40s or older

3

1.5

0.4

1.5

9.8

Women 30s and younger

13

11.3

2.5

6.6

10.2

9

14.3

2.1

1.8

8.4

40s or older
Overall Japan Subsidiaries

9.8

7.9

5.2

3.4

2.9

11.9

12.5

7.3

5.2

3.3

40s or older

6.6

1.9

0.4

0.6

0.8

Women 30s and younger

11.3

20.1

9.4

5.3

3.5

40s or older

6.9

10.3

5.1

1.4

1.9

Men

30s and younger*8 Includes both new graduates and midcareer employment

96

Job retention rate and Number of staff leaving*Data up to FY2023 includes figures for the scientific solutions business transferred on April 3, 2023

Job retention rate (Only full-time employees)*9（%）
FY2019Olympus Corporation
Men
Women
Overall Japan Subsidiaries

FY2020

FY2021

FY2022

FY2023

95

91

87.0

82.5

79.3

97

93

88.5

89.3

78.8

88

87

82.4

69.2

80.6

84.5

78.6

89.3

88.8

81.5

Men

87.3

85

90.9

91.0

83.0

Women

81.3

71

87.5

86.5

80.6

*9 The percentage of those who remain in the company as of March 31, 2023, out of those employed in FY2021 (including new graduates and mid-career
employment).

Job retention rate for new graduates※10
FY2019Olympus Corporation
Overall Japan Subsidiaries

FY2020

FY2021

FY2022

FY2023

95.6

96

95.6

91.6

84.4

ー

93.2

90.8

93.0

87.1

*10 The percentage of those who remains in the company at March 31, 2023 out of those employed as new graduates in April 2020.

Number of staff leaving （persons）
FY2019Olympus Corporation
Of which number ofvoluntary leaversMen
30s and younger

FY2020

FY2021

FY2022

FY2023

413

274

628

1,389

237

123

140

275

230

105

148

64

41

48

30

40s or older

89

53

203

135

57

Women 30s and younger

118

17

6

15

13

58

6

25

32

5

290

176

294

417

388

ー

127

223

260

257

40s or older
Overall Japan Subsidiaries
Of which number ofvoluntary leavers

93

60

84

111

141

40s or older

41

15

75

54

46

Women 30s and younger

101

46

44

71

56

40s or older

55

6

20

24

14

FY201914.08

FY202014.17

FY2021
14.41

FY202214.32

FY202313.85

FY2020797,411

FY2021
730,544

FY2022868,867

FY2023881,923-

405,023

357,032

405,399

420,547-

223,277

213,793

227,191

230,325

-

2.8

2.7

3.0

3.0

Men

30s and younger

Average number of years of services
Olympus Corporation

Human Capital Return on Investment（ROI）
Revenue(a)（¥ million）
Operating expenses(b)Global（¥ million）
Employee-related costs(c)※11（¥ million）
Human Capital Return on

Investment

FY2019-(a-(b-c))/(c)*11 Salary, bonuses and other benefits

Occupational Safety and Health*Data up to FY2022 includes figures for the scientific solutions business transferred on April 3, 2023

Number of Lost Time Injuries

97

FY2019

FY2020

FY2021

FY2022

FY2023

ー
6

38

28

31

32★

4

2

2

6★

Americas

ー

20

4

12

2★

Europe

ー

6

16

13

19★

Asia/Oceania

ー

8

6

4

5★

GlobalJapan★ Indexes certified by external assurance.

Lost Time Injuries (of one day or more) Frequency Rate*12［LTIFR］
FY2019FY2020ー
0.2

GlobalJapan

FY2021ー
0.13

FY2022

FY2023

0.52

0.66

0.63★

0.08

0.09

0.29★

Americas

ー

1.93

0.39

1.13

0.21★

Europe

ー

1.07

2.04

1.73

1.54★

0.77

0.62

0.72

0.62★

All industries (Japan)*

ー
1.83

1.80

1.95

2.09

2.06

Manufacturing industry (Japan)*13

1.20

1.20

1.21

1.31

1.20

Asia/Oceania
13★ Indexes certified by external assurance.

*12 Lost time injury frequency rate = number of lost time accidents ÷ (average number of employees for that fiscal term × work hours) × 1,000,000*13 Survey on Industrial Accidents, Ministry of Health, Labour and Welfare

Occupational Illness Frequency Rate*14 *15［OIFR］
FY2019Japan

FY20200.07

FY20210

FY20220

FY20230

0*14 Occupational illness frequency rate = number of cases of occupational illness that result in lost time*18 ÷ (average number of employees for that fiscal term ×
work hours) × 1,000,000*15 Industrial accidents found in the list of occupational diseases of the Ministry of Health, Labour and Welfare (Appended Table 1-2 of the Ordinance for
Enforcement of the Labor Standards Act (Ordinance of the Ministry of Health and Welfare No. 23 of August 30, 1947))

Number of Fatalities*16

FY2019FY2020

FY2021

FY2022

FY2023Global

0 (1)

0 (0)

0 (0)

0 (0)

0★ (0)

Japan

ー

0 (0)

0 (0)

0 (0)

0★ (0)

Americas

ー

0 (0)

0 (0)

0 (0)

0★ (0)

Europe

ー

0 (0)

0 (0)

0 (0)

0★ (0)

Asia/Oceania

ー

0 (0)

0 (0)

0 (0)

0★ (0)★ Indexes certified by external assurance.

*16 Figures in parentheses indicate contractors

98Framework of Corporate Philosophy

The Olympus Group specifies the Basic Management Policies within the Framework of Corporate Philosophy, positioning its Corporate Philosophy at the top.
The concrete guidelines for business execution are then compiled into two structures: Planning and Global Rules.

Related link
Corporate Philosophy
Corporate Strategy
Olympus Global Code of Conduct
Basic Policy on Corporate Governance (PDF: 98.9KB)
Basic Policy on the Internal Control System

99

Corporate Governance

Basic Policy for Corporate

Corporate GovernanceCorporate Governance

Governance (PDF: 98.9KB)

Report (As of September 19,

Structure

The Olympus Group has created the2023) (PDF: 1.3MB)

Find out our Corporate Governancebasic policy for Corporate Governance

The Olympus Group submits a

Structure to ensure sound management

based on the principals of Japan's

compilation of our corporate

including the makeup of the board andCorporate Governance Code.

governance situation the "Corporate

the roles of outside directors

Governance Report" to the Tokyo Stock
Exchange.

Board of Directors

Internal Control System

Olympus Group Tax Policy

Find out the reasons for appointments

Read our basic policy for internal

Find out our Group Tax Policy based onof outside directors, as well as thecontrols which enhances effectivenessthe principles of how Olympus people

efforts to ensure robust audit andand efficiency of operations and theare expected to operate with respect tosupervisory functions and the overview

reliability of financial reporting by thetax matters.

of the results of the evaluation of thecompany and its subsidiaries.

Board Effectiveness.

100Communication with Stakeholders

Basic Approach and Policy
The Olympus Group is committed to "making people's lives healthier, safer, and more fulfilling." This is our corporate philosophy and the fundamental
concept underlying our activities, enabling us to respond to the highest expectations of our stakeholders, conduct ourselves as a model corporate citizen,
and work towards sustainable growth together with society.
Furthermore, to address the challenges of international society as a global company, we participate in the UN Global Compact (UNGC) and report on theachievements of our sustainability activities to the UNGC every year.

Initiatives

Customers
The Olympus Group is engaged in a variety of initiatives to provide better products and services to healthcare professionals, our customers, in order tocontribute to "Making people's lives healthier and safer". We have established a global system to accurately handle a series of customer service activities,
from product sales to in-use support and repairs, and are engaged in daily operations.

Responding to Customers

Shareholders and Investors
We adhere closely to the Article 27-36 of the Financial Instruments and Exchange Act (so-called "Fair Disclosure Rules") and proactively disclose ourmanagement policies, financial status, business activities, non-financial and corporate information in a fair, timely and appropriate manner according to the
Olympus Group's Disclosure Policy. We also invite investors to meetings in which our senior management, including the Representative Executive Officer,
relevant executive officers, and head of relevant business divisions, present our medium- to long-term corporate strategies and business plans.

Investor Information

Suppliers
We share our "Expectation of Suppliers" and "Green Procurement Standards" in writing with our suppliers in Japan, asking them to comply with laws andregulations, social norms, and environmental considerations. We conduct an annual web-based supplier survey in Japan with 30 CSR questions to raise
suppliers' awareness of Sustainable Development Goals SDG-related issues.
Our Global Procurement ESG strategy consists of three materiality topics as part of focus area: Responsible Supply Chain.
1. Improve supply chain risk mitigation and resilience by implementing a multi-tier supply chain risk monitoring solution.
2. Enhance Social (Human Rights) Commitment in SCM - This includes creating and publishing a Global Supplier Code of Conduct as well as monitoring
ESG risk in our supply chain.
3. Environmental Supplier Management - We will begin creating a baseline of CO2 emissions from our suppliers as well as asking our suppliers to set
Science-Based Target (SBT) CO2 emissions reduction targets for our Science-Based Target Initiative (SBTi)certification.
※ For information on Science Based Targets, please visit the following website.

https://sciencebasedtargets.org

Procurement
Compliance101Employees
The Olympus Group conducts employee surveys (core value surveys) to listen to the opinions of employees and to achieve a better corporate culture andwork environment. The results are shared with management, including regional management, and measures are implemented at various organizational
units.
In addition, the top management of Olympus provides regular opportunities for labor-management consultations both centrally and at individual facilities,
including twice-annual meetings of the Central Labor-Management Council with the Olympus Labor Union, to discuss reforms of the corporate culture, suchas the improvement of labor conditions and revisions toward more flexible workstyles.

Labor Relations

Communities
Olympus works with a wide range of stakeholders in accordance with our Corporate Citizenship Policy, including communities near our business sites aroundthe world, local governments, schools, and NPOs, to contribute to solving social issues in local communities. We also participate in environmental
conservation activities in cooperation with local governments and NPOs, and participate in and cooperate with local events.

Corporate Citizenship Activities

National and Local Governments
Olympus is actively involved in a wide range of corporate citizenship programs in cooperation with national and local governments. In Japan, we maintaincancer prevention agreements with several prefectural and city governments to encourage their citizens to take cancer screenings. As a part of these
agreements, Olympus provides leaflets to explain endoscopic examinations, which health administration then include in notice letters about strategic
stomach cancer screenings and colon cancer examinations to support for encouragement to take individual medical examination. Also, Olympus and its
Japan subsidiaries host classes as a part of the school curriculum on the history and technology of endoscopes in cooperation with educational
administrations, primary schools, junior high schools, and high schools.

102Compliance

Basic Approach and Policy

Promotion Structure

Initiatives

Systems and Mechanisms

Basic Approach and Policy

Because What We Do Matters
Olympus Global Code of Conduct
What we do at the Olympus Group matters to the people we serve, and how we do our work matters to our stakeholders. To help our management team andemployees put Our Purpose and Our Core Values into practice, we have developed a single, simplified resource, the Olympus Global Code of Conduct,
which replaces the Olympus Group Corporate Conduct Charter and Code of Ethics. The updated Global Code of Conduct went into effect in 2019 and isavailable online in 18 languages.
Olympus Global Code of Conduct

Acting with Integrity Matters
The Olympus Global Code of Conduct builds on our 100-year tradition of innovation, positive contributions to society, and unwavering commitment tointegrity. It explains the standards of conduct expected of our management team and employees and guides them as they conduct business with integrity.
The Olympus Global Code of Conduct reflects a comprehensive declaration of Olympus's stance on Environmental, Social, and Governance sustainability
matters (ESG), and we formulate specific ESG-related policies based on this Code.
Our activities are based on Our Purpose of "making people's lives healthier, safer and more fulfilling." Following Our Purpose, we are committed to
conducting our affairs with integrity and accordingly will comply with applicable laws and regulations. The Olympus Global Code of Conduct is the foundationfor our policies and is required to be read, understood, and followed by our management team and employees. We are committed to acting in accordancewith the Global Code of Conduct in our global corporate activities.

Promotion Structure

Compliance Management System
Our global Compliance function works to raise awareness of the Olympus Global Code of Conduct and related compliance policies by providing
management teams and employees with the resources and training they need to do business with integrity, treat customers, suppliers, and third-party
business partners fairly, and report concerns when they arise.
The Olympus Group is committed to fostering a business culture that follows the highest standards of business integrity in all our relationships. The Chief
Executive Officer is responsible for compliance with applicable laws and regulations within the business operations of the Olympus Group and has appointed
the Global Chief Compliance Officer (CCO), an Executive Officer, who is responsible for the Compliance Management System within the Olympus Group.
The Board of Directors and its Audit Committee receive periodic reports on compliance activities from the CCO, and they consult with the CCO as needed.
The CCO chairs the Global Leadership Team (GLT) consisting of the Regional Chief Compliance Officers, Chief Privacy Officer, and other persons
designated by the CCO. Together with members of the GLT, the CCO ensures that relevant internal regulations are observed in the regional businesscenters and that compliance activities are carried out in accordance with the requirements of the management systems overseen by the CCO and arereflective of best practices. During FY2023 the CCO led an organizational design activity that resulted in the integration of the Risk & Controls, Compliance,
Privacy, and Information Security functions into the new and more unified Governance, Risk & Compliance (GRC) Function. This enhanced GRC Function
and organizational design, effective April 1, 2023, will improve collaboration among these subfunctions and further strengthen risk management for Olympus.

Compliance Management System (As of April 2023)

103

Initiatives

Compliance with Laws and Regulations
In FY2022 there were no violations that caused penalties or other punitive measures concerning key laws/regulations (as stated below) and other socially
important legislation.

Strengthening Compliance with Key Laws and Regulations
Jurisdiction

Name of Law/Regulation, Etc.

Laws, regulations and guidelines in

Laws and regulations relating to anti-bribery such as the Unfair Competition Prevention Act

Japan

National Public Service Ethics Act/rules of ethics
Agreements relating to fair competition
Transparency guidelines for the medical device industry in relation to medical institutions, etc. (formulated by theJapan Federation of Medical Devices Associations)
Act on Prohibition of Private Monopolization and Maintenance of Fair Trade (Antimonopoly Act)Act against Delay in Payment of Subcontract Proceeds, etc. to Subcontractors (Subcontract Act)
Laws and regulations relating to labor, such as the Labor Standards Act and Industrial Safety and Health Act
Laws and regulations relating to insider trading
Personal information protection laws/My Number ID Act
Laws and guidelines relating to measures against antisocial forces

Laws, regulations, and guidelines in

Foreign Corrupt Practices Act (FCPA, United States)

other countries

U.K. Bribery Act 2010 (United Kingdom)
Anti-Kickback Statute (United States)
OECD agreements concerning the prevention of the bribery of foreign public officials in international commercial
transactions
United Nations agreements concerning the prevention of corruption
Other laws and regulations relating to the prevention of unfair competition
Physician Payment Sunshine Provision (United States)
Laws and regulations relating to anti-monopoly
Laws and regulations relating to measures against antisocial forces

Systems and Mechanisms

Integrity Line (Global Reporting System)
As stated in the Olympus Global Code of Conduct, all employees are responsible for immediately reporting any suspected violation of the Code or Company
policy.
Olympus provides a global reporting system, which is available to all Olympus employees, business partners, and other third parties who wish to report a
concern. This system is known as the Olympus Integrity Line and is managed by a third-party company that is independent of Olympus. The Olympus

104Integrity Line can be used at any time (24 hours a day, 7 days a week, 365 days a year). The system can be accessed via telephone or online. Translators
are available to ensure concerns are understood. The compliance function maintains a cross-functional team that meets regularly, collaborating tocontinuously improve the effectiveness of the reporting system and processes. In FY2023 improvements included the enhanced tracking of policy violations,the integration of additional regional reporting of conflicts of interest, and global adoption of the Olympus Internal Investigations Policy, which establishes the
Global Internal Investigations Committee and provides the framework for the Company’s internal investigations process as we strive to ensure that legitimate
reports of concern will be investigated and treated according to the same high standards regardless of location or department.

Whistleblowing System

Facilitating an Environment That Encourages Use of the Integrity Line
Additionally, the Global Compliance function, at the direction of the Global Chief Compliance Officer and Regional Chief Compliance Officers, raises
awareness of this system through consistent messaging in the Global Code of Conduct and related e-learning programs and communications. During
FY2023 Olympus received 809 reports, whether through the Integrity Line or other means. Olympus takes all reports of concern seriously. If a concern of
misconduct is substantiated following appropriate review, Olympus takes corrective action, including policy/process remediation, enhanced training andeducation for individuals/groups, issuance of warning to individuals, and, in serious cases, termination in accordance with local regulations. In FY2023,
82.1% of closed reports were substantiated following review.

Compliance Training
To raise compliance awareness and promote an understanding of important laws and internal rules, as well as to ensure consistent compliance with them,
the Global Compliance function strives continually to enhance compliance education programming.

105

Anti-Corruption

Systems and Mechanisms

Prevention of Bribery
The Olympus Group will never engage in actions that could be deemed to be bribery in its dealings with any of its business partners, such as government
officials, and employees of government agencies (including international agencies), or any other parties. In addition to having established our own rules
based on key laws and regulations and thoroughly educating our employees on those rules, we are working on the prevention of actions that could beinterpreted as bribery by tightening the rules governing external business dealings and internal approval system as well as by implementing process controls.
With the Global Code of Conduct (PDF: 2.2MB) , the Olympus Group has established a key guideline to preventing bribery, which has been disclosed on its
website.
Olympus Global Code of Conduct (PDF: 2.2MB)
Olympus Group guidelines covering the prevention of bribery

Exclusion of Antisocial Forces
The Olympus Group will have no involvement with organized crime syndicates, or any other antisocial forces that threaten the order of society and will neverengage in actions that could support their activities.
We will respond resolutely and in accordance with the law to any fraudulent demands from antisocial forces. In July 2012, "Regulations for the Elimination ofAntisocial Forces" covering the Olympus Group were formulated.
For Olympus and its Japan subsidiaries, in principle, we conclude contracts or memorandums of understanding incorporating provisions relating to the
exclusion of antisocial forces with all new business partners (including clients and suppliers as well as partners in joint research) of.
For subsidiaries outside Japan, we are confirming that our business suppliers and partners do not have any ties with antisocial forces in compliance with the"Regulations for the Elimination of Antisocial Forces."

Prevention of Insider Trading
The Olympus Group is determined to ensure the fairness and soundness of security markets and earn the trust of shareholders and investors by working toprevent insider trading. In August 2022, we enacted the "Rules for Insider Information Management" to consolidate internal information within the Olympus
Group, determine whether certain information qualifies as internal information, and establish the necessary fundamentals for managing internal information,
including methodologies and organizational structure. In addition to the above, the Insider Trading Prohibition Rules, formulated in June 2012, clearly forbid
the use of undisclosed information gained through activities related to trading in stocks, and continuous education and training about these regulations isprovided to all employees.
We have adopted rules, such as those concerning the buying and selling of our own shares by directors and employees, and we consistently comply withthose requirements, including the submission of notices concerning such transactions. In FY2023, an e-learning program to prevent insider trading was
implemented for all employees of Olympus Group in Japan. At the same time, lecturers were invited once a year from the Tokyo Stock Exchange to training
sessions for those employees from our Olympus headquarters corporate divisions who have ample opportunity to come into contact with insider information.
There have not been any insider trading matters in FY2023, same as past years.

International Trade and Economic Sanctions
The movement of products, services, and investment across borders subjects Olympus and other companies to extensive trade regulations. A variety of laws
and regulations in the countries in which Olympus transacts business apply to the sale, shipment, and provision of medical goods, services, and technology
across borders. Governments also impose economic sanctions against certain countries, persons, or entities. In addition to our need to comply with such
regulations in connection with our direct activities, Olympus also sells and provides goods, technology, and services to agents, representatives, anddistributors who may export such items to various customers and end-users throughout various levels of public and private procurement chains. Sanctions
are the regulatory restrictions applicable to dealings with certain countries, territories, governments, groups, entities, individuals, or controlled goods or106

services. If Olympus, or the third parties through which Olympus does business, are not in compliance with applicable laws and regulations on import/export
controls or economic sanctions, Olympus (and those third parties) may be subject to civil or criminal action and varying degrees of liability.
It is Olympus’s policy to comply with all applicable trade regulations in our operations wherever located worldwide. The nature and extent of those restrictions
may vary (prohibitions on any or all transactions, limitations on imports/exports, controls on specific goods and services, restrictions on financial operations,etc.), but it is important that all Olympus Group employees, customers, vendors, and contractors are aware of and comply with those restrictions. To maintainthis system, Olympus manages a program for the purpose of identifying direct or indirect risks associated with transactions subject to economic sanctions.
This program includes identifying potential threats to or vulnerabilities of (i) the Olympus Group’s customers and customers’ customers through to theultimate consumer, the supply chain, intermediaries (including financial institutions), and counterparties; (ii) the products and services offered by the Olympus
Group, including how and where such products or services fit into other commercial products or services; and (iii) Olympus geographic locations, as well as
the geographic locations of our customers and customers’ customers through to the ultimate consumer, the supply chain, intermediaries (including financial
institutions), and counterparties.

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Information Security

Basic Concept
The Olympus Group considers information security risks to be important risks that not only directly affect our business but could also have a serious impact
on our customer medical institutions, and even on medical care itself. Also, appropriate information security risk management and incident response are
becoming increasingly important in terms of maintaining and enhancing the Company's sustainable growth and the competitive advantage of our products
and services. With regard to addressing information security risks, we believe it is important that the measures are being driven on a whole companywide
basis, not limiting them to information security dedicated departments. As well as the importance of internal collaboration, it is also crucial to actively
communicate and collaborate with our customer medical institutions, business partners, industry associations, and government agencies.
Under the corporate strategy announced in 2019, we are implementing our corporate transformation plan "Transform Olympus" with the aim of transforming
ourselves into a corporate culture and corporate structure capable of sustainable growth. As part of this plan, we are promoting the globalization of eachfunction, standardization of processes, and centralization of risk management. In the area of information security and privacy compliance, we haveestablished a new strategy in the fiscal year ended March 31, 2022, in order to visualize risks from the perspective of corporate risk management withuniform standards across the global Group and to ensure that risk mitigation activities in each related function are comprehensive and harmonized. This
strategy includes the creation of a new governance model and a multi-year strategic roadmap corresponding to the companywide transformation. Throughthe implementation of our new governance model and strategy, we are particularly focused on achieving the following:
Increase resilience to cyber-attacks not only in our general IT systems, but also in our products and services, their development and manufacturing
environments.
Continuously ensure product security throughout the entire product lifecycle, including the supply chain, to ensure a consistent supply of products andservices.
Protect, manage, and securely utilize data of various types and confidentiality levels while further enhancing privacy protection based on the latest trends
and regulations in each country and region.

Information Security GovernanceIn accordance with the corporate governance structure for overall management, the governance of our information security is realized by the executionfunction headed by our Chief Executive Officer (CEO) and the Board of Directors (BoD), which supervises the execution function. In terms of the executionfunction, the CEO owes accountability for information security to the BoD and external stakeholders. The Chief Information Security Officer (CISO), under
the supervision of the CEO, and a dedicated organization are responsible for the Group-wide risk management of information security and the formulationand implementation of strategies based on that risk management. In the supervisory function, the BoD is ultimately responsible for supervision as part of thecorporate governance for overall management, and the Audit Committee, in particular, is responsible for supervision as part of the audit of the execution ofduties by executive officers and others. The CEO and the CISO, which are execution functions, report to the BoD on the status of information security for theentire Olympus Group on a regular basis and as needed in response to changes in the environment. Furthermore, more frequently and regularly reporting to
the Audit Committee are made.
In terms of a more detailed execution structure, depending on varied requirements in security capability and capacity by function, the following three-layer
model is being applied to the security organizational development with a view to both effectiveness and efficiency: the Governance Layer, which oversees
the formulation and execution of Group-wide information security strategies; the Management/CoE Layer, which oversees the formulation and execution ofplans within each function and department based on the formulated strategies; and the Execution Layer, which is responsible for execution within eachfunction and department.
We have clarified the responsibilities and collaboration methods for information security based on the following two domains. Enterprise Security (information
security including general IT systems and data governance) and Product Security (information security of our products and services). As for promoting
understanding of and ensuring compliance with important laws, regulations, and internal rules related to the protection of personal information (Privacy
Compliance,) we are promoting the enhancement of the structure under the supervision of the Chief Compliance Officer (CCO). (For more information oncompliance, please refer to this page.)108

For risk management, the CISO and the dedicated organization conduct a Group-wide risk assessment, considering various external factors, such as trendsof cyber-attacks outside the Company and best practices in the industry. Based on the risk assessment, the CISO and the dedicated organization formulate
a medium-term strategy taking into account our business strategy, customer requirements, and legal and regulatory trends. Each function and department
then implement risk mitigation measures based on the established strategy, thereby ensuring that risk mitigation is based on uniform standards and balanced
throughout the Group.
In the event of a cyber-attack, it is important to have a crisis management system that can respond promptly, coordinate with the entire Group and relatedorganizations, and facilitate appropriate management decisions on a Group-wide basis. Therefore, in addition to IT-SIRT in each region and PSIRT, which
are responsible for rapid incident containment and recovery, we are working to build a Global SIRT structure that supports collaboration among the regions
and functions/departments, coordination with related organizations, and decision making by the executive management team.

Number of Information Security Incidents and Breaches*1
The table below shows the number of incidents and breaches globally over the past three years. In the fiscal year ended March 31, 2022, IT systems insome regions in EMEA (Europe, the Middle East, and Africa) and the Americas (the United States, Canada, and Latin America) were subject to unauthorizedaccess. Incident response was implemented in the affected areas, and various security enhancements were made based on the results of the analysis of
those incidents. While no evidence of loss, misuse, or leakage of the Company's data was confirmed as a result of the unauthorized access in the EMEA
region, some data may have been compromised in the Americas region. We have notified those who may have been affected.

Item
Number of information security breaches or other cybersecurity incidents

FY2021

FY2022

FY20230

4

4

Related Information
Olympus Group Information Security Policy
The Olympus Group Personal Information Protection Policy (Translation)
Management Policies: Business Risks(Reference) Participation in a simulation drill for a cyber attack (Medical Cyber Security Council, May 19, 2021) - Japanese only
*1 The figures in the table are based on the disclosure standards of GRI 418-1 (2016). In case it is difficult to disclose a definite figure due to ongoing investigation or monitoring of
the possible impact of an incident, the figure is shown as "-".

109

Risk Management System

Basic Approach and Policy
The Olympus Group implements risk management initiatives to realize its basic management policies, which include its Corporate Philosophy andmanagement strategy. Specifically, based on the "Policy of Risk Management and Crisis Response" and related rules, the Olympus Group undertakes risk
management from the perspective of both "offense" through active and appropriate risk taking leading to sustainable growth and value creation for theCompany and "defense" to prevent illegalities and accidents.
A crisis management process has also been established to minimize the impact of unforeseen incidents on corporate value.
Policy of Risk Management and Crisis Response

Promotion Structure

Risk Management Structure (Fiscal Year Ended March 31, 2023)

The risk management structure is a global risk management structure that defines categories of risks that could affect our business strategy and theachievement of our business objectives, and clarifies the Executive Officer in charge of each risk category (to ensure risk assurance). Each officer is
responsible for carrying out all activities necessary to keep the risks under their control within acceptable limits (e.g., development of organizational structure,development of processes, and formulation and implementation of priority measures).
As of April 2023, a new organization has been launched to oversee four functions related to Governance, Risk, and Compliance (GRC): Risk & Control,
Compliance, Privacy, and Information Security. With enhanced coordination among these functions, the risk management framework within operational
functions will be further strengthened.

Structure and Initiatives

Risk Management
The risk management process is based on the PDCA cycle of risk assessment (risk identification, analysis, evaluation, and establishment of risk
countermeasures), implementation of risk countermeasures, monitoring and reporting, and improvement. Risk assessment is linked to the annual planning
process, and risks are evaluated using evaluation criteria common to the entire company to visualize and centrally manage company-wide risks. In addition,

110

the status of the Group's response to major risks is regularly reported to the Group Executive Committee, the Board of Directors, and the Audit Committee
for continuous monitoring.

Crisis Management
Any major incident that is highly likely to affect business management in the Olympus Group is reported promptly to the president and other senior
management and handled appropriately by the managers in coordination with relevant divisions. Furthermore, we continue to conduct annual training
exercises in anticipation of emergencies, ensuring the ongoing review and refinement of response processes. Our aim is to minimize damages in the eventof large-scale natural disasters and similar incidents.
In terms of business continuity plan (BCP), we strive to develop practical plans that emphasize the value chain. To support this, we have established the“BCP/BCM Development Guideline” and consistently work on improving BCP practices. Additionally, we conduct regular education and training programs toenhance the effectiveness of our BCP.
Moving forward, we will continue to prioritize the health and safety of our employees, medical professionals, patients, and communities, while implementing
the best measures to maintain the supply of our products and services.

111

Governance Data
Updated August 21, 2023
*For details, please refer to the Annual Securities Report for each period and Integrated
Report.
>Annual Securities Report>Integrated Report

Corporate Governance
Composition of the Board of Directors
Composition of the Board of Directors
OutsideInternal
FemaleForeign National
Audit & Supervisory Board Members(Hereinafter called "auditors")

Unit(Person)(Person)(Person)(Person)(Person)

FY2019(Person)FY2020

FY2021

FY2022

FY2023

11
6
5
0
0

15
10
5
0
3

12
9
3
0
3

11
8
3
1
3

12
9
3
1
4

4

0

0

0

0

*Transitioned to a company with a Nominating Committee, etc., effective from June 2019. The composition of the Board of Directors for FY2018 and FY2019 includes auditors.

Officer Compensation
Directors (excluding outside directors)
Auditors (excluding outside auditors)
Outside officers
Executive officers

Unit
Millions of yen/person
Millions of yen/person
Millions of yen/person
Millions of yen/person

FY2019
377
56
110*3
0

FY2020
454*1
14
131
140

FY2021
717*2
0
149
431

FY2022
919
0
138*4
666*6

FY20231094
0192*51122*7*Transitioned to a company with a Nominating Committee, etc., effective from June 2019. The composition of the Board of Directors for FY2019 includes auditors.
*1 The directors include the three internal directors who retired at the close of General Meeting of Shareholders held on June 2019.
*2 The directors include the two internal directors who retired at the close of General Meeting of Shareholders held on July 2020.
*3 The officers include the one outside director who retired at the close of General Meeting of Shareholders held on June 2018.
*4 The officers include the two outside directors who retired at the close of General Meeting of Shareholders held on June 2021.
*5 The officers include the two outside directors who retired at the close of General Meeting of Shareholders held on June 2022.
*6 Compensation for the two executive officers who concurrently hold a position as director is included in the compensation for directors.
*7 Compensation for the two executive officers who concurrently hold a position as director is included in the compensation for directors.

112

Environmental Health and Safety Policy

All our activities are based on our corporate philosophy, "Making people's lives healthier, safer and more fulfilling." Following this philosophy, the Olympus
Group respects people’s security and health and the natural mechanisms that realize this. We will contribute to the realization of a sustainable society byworking to harmony with the environment and keep employees’ security and health.

1. Continual Improvement of Environmental Health and Safety Activities
We will maintain the environmental health and safety management system and mechanism on a global scale and monitor the progress of environmental
health and safety activities regularly so that we can continuously improve our environmental health and safety performance.

2. Compliance with Laws, Regulations, and Social Norms
We will fully comply with the laws and regulations, agreements with our stakeholders, and our voluntary standards in respect to the environment, health andsafety.

3. Reduction of Environmental Impact
Toward the solution of environmental issues, prevention of pollution, sustainable resource use, climate change mitigation and adaptation, and protection of
biodiversity, we will reduce environmental impact through all business activities from research, development, design, procurement, production, logistics,
sales and repair.

4. Keeping safety and health
We will keep a safe and hygienic work environment by taking measures to eliminate and reduce safety and health risk factors based on the risk
assessments.

5. Attributing Importance to Communication
We will ensure transparency and reliability in dispatch of information about environmental safety and health activities, deepen mutual understanding with our
stakeholders, and promote activities for solving environmental safety and health issues in cooperation with each other.
Explanation of Environmental Health and Safety Policy

113

Control Rules for Environment-related Substances Used in ProductBased on “the Control Rules for Environment-Related Substances Used in Product”, which was published in reference to the environment-related
substances’ laws and regulations enforced globally, Olympus Group conducts surveys in the product design and development stages and also in its
procurement activities to ensure that its products do not contain environment-related substances.

Control Rules for Environment-related Substances Used in Product Ver.17 ( April 2023 )Japanese (PDF: 1.3MB)
English (PDF: 978.3KB)

114

Green Procurement

Olympus published its approach to environmental activities as the Olympus Group Green Procurement Standard and distributed the Standard to all
suppliers. We also continuously improve the environmental initiative contents working together with our suppliers through surveys covering theirenvironmental management systems and activities.

Olympus Group Green Procurement Standard (Japanese, English, Simplified
Chinese)Green Procurement Standard Ver.6.0
Japanese (PDF: 176.2KB)
English (PDF: 143.2KB)
Simplified Chinese (PDF: 216.6KB)
Control of Chemical Substances Used in Products

115

Human Rights Policy

At Olympus Group (hereinafter referred to as "Olympus"), we define "Our Purpose" as "Making people's lives healthier, safer and more fulfilling." In order toachieve this, we seek to build this Purpose into all of our activities. This commitment is one that extends to all of our employees, and we encourage our thirdparties and whoever engages in activities on our behalf and whose services or products we use, including our suppliers and our clients and users of our
products and services, to abide by the same commitment as well. We believe that we need to be ever conscious of this commitment and to be transparent
about our efforts.
Since people's understanding and sense of values in relation to human rights and social norms evolve as society develops and changes, we seek tounderstand and adapt our activities as needed. We will continue to support the well-being of the people around the world through our business and otherpursuits, continuously working to identify, prevent, mitigate and account for how we address any adverse human rights risks and impacts in our activities,
including in our supply chains, and to adapt ourselves appropriately to the evolution of standards and norms.

Olympus commitment to respect Human Rights
Olympus established a set of five core values* which shall guide us in "Making people's lives healthier, safer and more fulfilling." Known as "Our Core
Values," these values are shared and put into practice across the company. Among them, we consider the values of Integrity ("We are trustworthy and act ingood faith") and Empathy ("We care about all of our stakeholders") as integral to our company's responsibility to respect for human rights. We believe thatsharing and practicing these values at all levels of the company creates an environment of respect for human rights among all those associated with
Olympus.
* Integrity, Empathy, Long-term View, Agility, Unity
Olympus commits to respect all Human Rights and supports the following international human rights standards and promises unwavering respect for them inmanaging our group and daily business.
Universal Declaration of Human Rights
International Covenant on Civil and Political Rights
International Covenant on Economic, Social and Cultural Rights
ILO Declaration on Fundamental Principles and Rights at Work
United Nations Guiding Principles on Business and Human Rights
The Ten Principles of the UN Global Compact
OECD Guidelines for Multinational Enterprises
Olympus commits to proactively avoid causing or contributing to adverse human rights impacts and to address such impacts when they occur. The company
also strives to identify, prevent or mitigate adverse human rights impacts directly linked with our operations and business activities.
Guided by the United Nations Guiding Principles on Business and Human Rights, Olympus will establish human rights due diligence systems and processes
designed to support ongoing identification and monitoring of potential impact of our business activities on human rights and appropriately address any
identified challenges. We will seek guidance from stakeholders and experts to support continuous improvement in alignment with the expectations for global
companies.
Olympus commits to continually update its human rights approach, and to use due diligence and monitoring for continuous improvement.
As a global business and as stated in our Global Code of Conduct, we promise to observe the human rights laws and regulations of the countries/regions
where we operate, and where there are inconsistencies between the local and the international norms or where local laws and regulations may be lessstringent than international human rights standards, the international norms, where stronger, will be followed.

Scope of application
This policy is applicable to all officers, executives and employees of the Olympus Group.

116

Third-parties associated with Olympus are also expected to follow the policy. We seek their understanding and support, as well their help to improve it.

Assessing, avoiding and mitigating negative impacts on human rights
We will work to regularly assess potential impacts on human rights in all of our business activities, identify areas of concern and act appropriately to preventor mitigate them. We will create and execute a plan in line with due diligence procedures suggested in the United Nations Guiding Principles on Businessand Human Rights.

Remediation, correction and prevention
Should we become aware of a situation where we believe appropriate standards are not being met, we will work to provide appropriate remediation for thoseaffected, in line with the United Nations Guiding Principles on Business and Human Rights. We will also work to determine the cause of the problem and takeaction to support meaningful reforms.

Whistleblowing System

Raising awareness and promoting behavior that respects human rights
To promote recognition and respect of human rights and human well-being we will work to continuously encourage awareness and correct behavior by all
officers and employees of all of Olympus. We believe our corporate philosophy, consisting of Our Purpose and Our Core Values, provides a strong
foundation for understanding and practicing genuine support of human rights values.
Because we recognize that consistent understanding plays a pivotal role in this process and supports implementation of our commitments, we will regularly
provide education and communication to our employees as well as to our third-parties that will serve to assure that expectations are clearly understood byall.

Olympus Global Code of Conduct
Global Standards: What Olympus Expects of Third Parties

Stakeholder engagement and dialogue
We will regularly communicate with external organizations, and engage in meaningful consultation with potentially affected groups and other relevant
stakeholders or their representative organizations, as well as independent experts with knowledge of human rights risks globally to ensure that weunderstand rightsholders concerns and are aware of new trends and challenges so that we can anticipate and proactively address emergent risks that could
impact our business and third parties.

Information disclosure
We will periodically report on the results of our human rights risk mitigation efforts, through relevant channels such as our website.

117

Olympus Global Quality Policy

We continuously pursue the improvement of Patient Safety, Quality, Regulatory Compliance, and the Customer Experience for all Olympus
products and services.

118

Supply Chain Policy of Olympus GroupAll activities of Olympus group (hereinafter referred to as Olympus) are based on our corporate philosophy, "Making people's lives healthier, safer
and more fulfilling". Following this philosophy, we contribute to the development of a sustainable society through our ESG (Environment, Society,and Governance) initiatives. Also, this document stipulates the way in which we will procure the materials and services necessary for our businessactivities.

1. Compliance with Laws, Regulations, Ethics and Social Norms
Olympus complies with applicable laws, regulations, ethics, and social norms (those concerning the respect for human rights including the prohibition of childlabor, forced labor, and anti-corruption). We take due care of labor environment, safety and health of workers, and Olympus carries out corporate activities ina sound and fair manner. We ask that suppliers of the materials and services do the same.
2. Promotion of Business Activities in consideration of the Environment
Olympus recognizes the importance of various environmental issues such as climatic changes, and establishes "Olympus Group Environmental Policy" and"Olympus Green Procurement Standard". In conducting its business activities, we endeavor to realize a human society that has a sound environment andthat is capable of sustainable development in consideration of the environment. We ask the suppliers to do the same.
3. Promotion of Fair and Impartial Trade:
Olympus opens its doors to current suppliers and future suppliers all over the world, and engages in fair and impartial trade in accordance with establishedpolicies and procedures.
4. Selection of Suppliers and Management System:
Olympus selects suppliers based on the key elements of a comprehensive decision process which are the management compliance with laws, regulations,ethics, and social norms, environmental considerations, quality & safety assurance and a stable supply, management stability, technical capabilities, securityof information, respect for the intellectual property of other parties, compliance with the designated delivery date and appropriate pricing. We also evaluate
periodically by management indexes, quality, price, and service, in addition accurately understanding of the importance and obeying compliance with thelaws, regulations, ethics and social norms that we added into our evaluation criteria definition.
5. Reinforcement of Partnership with Suppliers
Olympus endeavors to establish and maintain a relationship of trust with our suppliers based on mutual understanding.
6. Prohibition on Accepting Personal Interests:
Olympus prohibits its employees from accepting any improper personal gifts, benefits or entertainment from suppliers.

119Expectations of Suppliers

Olympus procures various materials and services necessary for our production activities from suppliers in many countries around the world. We expect all
suppliers to note and follow the important points described below.

1. Compliance with Laws, Regulations, and Social Norms
Olympus aims to provide our customers with products that fully meet or exceed their expectations. In doing so, we discipline ourselves to comply with thelaws, regulations, and social norms of the countries and regions of the world in which we operate (specifically laws, standards, and conventions concerning
the prohibition of forced labor and child labor, prohibition of discrimination based on unreasonable grounds, anticorruption, laws regarding appropriate wages
and working hours, and maintenance of safe and clean working environments), carry out sound corporate activities and behave in a manner that is inaccordance with laws, regulations, and social norms. As noted below, we therefore expect our suppliers to do the same in those countries and regions where
they operate and to execute the appropriate management necessary to comply with this requirement.

2. Health and Safety
Suppliers are expected to ensure health and safety in the workplace (including equipment and facilities), track industrial accidents and illness, build a systemand framework for emergency response, and properly manage the health of their employees.

3. Fair and Impartial Trade
Olympus opens its doors to suppliers who develop mutual understanding and trust. We carry out fair and appropriate procurement activities based on ourpolicies and procedures disclosed to suppliers. Suppliers are also requested to follow our policies and procedures.

4. Ensuring Quality and Safety, Delivery, Fair Pricing, and Stable Supply
Suppliers are asked to provide products, parts, and raw materials that meet Olympus specifications and quality standards, while complying with delivery
dates and providing fair prices.

5. Environmental Considerations
Olympus considers the protection of the global environment to be one of its critical management tasks, and strives to contribute to the development of asustainable society by delivering environmentally conscious products to consumers. To this end, suppliers must manage the parts and raw materials that
constitute our products at their source, including in their procurement activities and production processes. We expect suppliers to promote biodiversity andother environmental protection activities so that together, we can create products that are not harmful to the global environment.

6. Ensuring Information Security and the Appropriate Protection of Information
Suppliers can obtain Olympus's classified information, as well as the classified information Olympus has on others. Suppliers are expected to strictly
safeguard the information they have accessed through business dealings with Olympus, to prevent any leak or disclosure to unauthorized personnel oroutside parties. Suppliers are also expected to implement measures to combat computer viruses, and to manage such measures so as to prevent causing
harm either internally or to other companies.

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7. Promoting Social Contributions
Suppliers are expected to grow sustainably within society and contribute to both the global and local communities. These initiatives may involve contributions
using the supplier’s primary business or technologies, nonmonetary contributions utilizing supplier facilities or personnel, monetary donations, and othercontributions.

8. Promoting CSR Activities Internally and Among Suppliers
We expect our suppliers to have a good understanding of the importance of corporate social responsibility（CSR）and to work to promote CSR activities
both internally and among their own suppliers.
Expectations of Suppliers (English Version) (PDF: 269.6KB)
Expectations of Suppliers (Chinese Version) (PDF: 372.1KB)

121

General Employer Action Plan based on the Act on Promotion of
Women's Participation and Advancement in the Workplace

The Olympus Group believes that the active participation of diverse human resources is indispensable for the sustainable development of the company andtherefore promotes Work-Life Integration (WLI) to enable our employees to achieve the optimum balance.
Olympus Corporation recognizes promoting the advancement of women as a priority issue to achieve WLI and have created the following action plan.

1. Plan duration
April 1, 2019 to March 31, 2024.

2. Current status
The percentage of female managers is 2.4% as of the end of FY2019, which is low compared with the overall percentage of female full-time employees(approx. 14%).
The percentage of women among new graduate employees in FY2020 was 23.5%.
We provide management skills training programs and a mentor system to nurture female managers. We also provide leader training programs andmentoring for manager candidates.
It is difficult for female employees to find a female role model and design a career path as the number of female managers and opportunities to get toknow them are few.
The education and promotion of professionals and experts is insufficient.
In FY2018, the scope of workers eligible for teleworking was expanded from those in childcare to include those engaged in elderly care or nursing care.
Since then we have been expanding the trial for target employees in each business site.
To help female workers to return smoothly to work after childcare leave, we provide the means to view work-related information during their leave and a
return-to-work career design training programs.
Although we are promoting WLI awareness among managers, understanding and active utilization of the WLI schemes is still insufficient.
Despite difficulties in achieving WLI for sales personnel, there is no support system for female employees to remain in the job.

3. Approach
Based on an understanding of the current situation, we are adopting the following approaches in the education and promotion of
professionals/experts and managers.
Reinforce systematic education for female manager candidates.
Reinforce establishment of a working environment that enables a sound work-life balance.
Reinforce female employment.

4. Goals, concrete actions, and start date
Goal 1: Increase the number of female managers to twice that compared to FY2021 by the beginning of FY2025.
(Concrete actions and start date)
From April 2019.
Provide genderless manager training programs.

122

Educate managers on nurturing subordinates.
Introduce a mentor system with female managers as role models.
Provide training programs per job level for promoted employees incorporating their career path planning.
Goal 2: Reinforce the working environment to enable a sound work-life balance(Concrete actions and start date)
From April 2019.
Establish a scheme that enables work continuation during illness treatment (including fertility treatment and breast cancer).
Support smooth returning to work by opening childcare centers and providing a return-to-work briefing together with the employee's child.
Support returning to work through a partnership with a housekeeping agency.
Achieve WLI by making teleworking available to all employees and introducing hourly usage of annual leave.
Toward achieving WLI in the workplace, reform WLI awareness through training improvement and booklet renewal.
Offer financial assistance to obtain qualifications during childcare leave.
Introduce a half-day childcare leave system to enhance working opportunities while on childcare leave.
Goal 3: Increase the percentage of female new graduates to 25% or higher in our employment as of April 2024.
(Concrete actions and start date)
From April 2019.
Actively publish information on female employment and appoint a female employee as a recruiter to increase job applications from women.
Promote targeted recruitment of female students in the STEM field (where the ratio of female students is low) as the number of students from this field
hired by our company is high.
Introduce location-specific employment for sales personnel.

123General Employer Action Plan based on the Act on Advancement of
Measures to Support Raising Next-Generation Children

The Olympus Group promotes Work-Life Integration (WLI), through which we aim to create a positive interaction between work and life that fulfills theaspirations of our employees.
As a company committed to the sustainable development of society, we value Nurturing the Next Generation, aiming to care for the children who will bear the
future and valuing their healthy growth.
Based on these ideas, Olympus Corporation will implement the following action plan to establish a working environment that enables our employees to fulfill
both their work and child caring commitments, exerting their capabilities to the full.

1. Plan duration
April 1, 2021 to March 31, 2024 (three years).

2. Plan details(1) Establish a working environment that supports balancing work and life for employees engaged inchildcare
Goal 1: Implement the WLI schemes and raise understanding of them to encourage usage of the schemes according to employees' life plansregardless of gender.
<Measures>
Introduce teleworking
Jointly with the labor union, introduce teleworking utilizing telecommunication devices at a permitted location other than the office. (From FY2022)
Introduce hourly-based leave
Allow employees to use their annual leave on an hourly basis to enable flexible and autonomous ways of working. (From FY2022)
Introduce options for taking summer holidays
Promote autonomous and flexible working according to the individual employee's life plans. (From FY2022)
Consider a support system during and after childcare leave
Consider a career development system for employees engaged in childcare by supporting career progress during childcare leave and offering ahousekeeping service after they return to work. (From FY2022)
Introduce a personnel evaluation system that takes account of diverse working styles
To expand the working opportunities of employees who have to work during limited hours or locations due to child or elderly care etc., we areconsidering widening the scope of the personnel evaluation system, currently in use for assessing employees in the job classification system. (FromFY2022)(2) Revise working styles and diversify the working environment and culture
Goal 2: Implement measures to revise working styles as a part of WLI promotion.
<Measures>
Provide WLI information and training sessions for managers
Provide managers with continuing training programs on appropriate workplace management to support employees' balance between work and childor elderly care, as well as promoting understanding of the aims of WLI. (From FY2022)

124Encourage men to participate in childcare
Create a corporate culture in which male employees can freely participate in childcare and provide related information. (From FY2022)
Contracts with corporate childcare centers
Consider making contracts with corporate childcare centers (employer-sponsored childcare centers) operated by other companies. (From FY2022)
Provide information about the nurseries in Shirakawa Facility (opened in September 2018) and Hachioji Facility (opened in June 2020), to ensure
they are used effectively and support WLI. (From FY2022)

125Corporate Citizenship Policy

At the Olympus Group (hereinafter, "Olympus"), our corporate activity is based on Olympus' corporate philosophy and the Olympus Global Code of Conduct.
Olympus implements appropriate corporate citizenship activities as a leading global medtech company, while taking a long-term view in an effort to achieve
Our Purpose of "Making people's lives healthier, safer and more fulfilling."
Olympus is committed to fulfilling its responsibilities to society and its stakeholders by proactively carrying out the activities that benefit global and local
communities.

1. Three Priority Areas
As a leading global medtech company, Olympus conducts its citizenship activities in healthcare. In an effort to leverage the spirit of monozukuri (excellencein manufacturing fostered by Olympus for over a century), our activities also focus on fostering scientific and technological progress, as well as
environmental sustainability. These three areas have been selected as priorities in which our corporate citizenship activities will be rolled out globally.
"Healthcare": An area in which we can take advantage of the insights we have gained from our Medical business"Science and Technology": An area in which we can take advantage of the insights we have gained from our Scientific Solutions business"Environment": Activities that future generations would be able to enjoy a rich natural environment
In addition to the priority areas listed above, we are engaging in humanitarian and charitable activities to nourish the world, to combat poverty, emergency
disaster relief assistance as well as local community involvement programs.

2. Approach to Activities(1) Respect for local cultures and customs
While society expects a multinational company like Olympus to take action to address shared challenges on the globe, we still need to respect local culturesand customs and take into account local needs when launching local voluntary activities.

(2) Meaningful partnership126

We work in partnership with NGOs, NPOs, local and national governments and international organizations, etc., as appropriate for each area of activity, toachieve greater speed and efficiency in addressing social issues. We utilize the findings, experiences, know-how that we gain in order to improve our future
actions, which leads to our continuous growth.

(3) Developing the next generation of leaders
We foster people who will support the sustainable growth of society in the future by imparting the insight and know-how we have gained during our corporate
activity over the past century to future leaders through providing learning opportunities and conducting awareness-raising activities.

(4) Enhancing employee participation
Olympus believes that its employees should become more connected with the world around them through volunteer activities, which not only have positiveeffects on society, but also help employees broaden their horizons and improve their sensitivity. Olympus encourages its employees to get involved in societyon their own initiative by providing them with opportunities to volunteer.

3. Information Disclosure
To fulfill our responsibilities to society and our stakeholders, we proactively disclose information on the corporate citizenship activities we have implemented
in the past in a timely and appropriate manner.

4. Continuous Improvement
By reflecting on the outcomes of past corporate citizenship activities and listening to feedback from society and our stakeholders, we will strive to improve
our activities.

127

Charitable Donations and Grants Policy

Based on our corporate philosophy of "Making people's lives healthier, safer and more fulfilling" that provides the basis for all corporate activities, theOlympus Group (hereinafter, "Olympus") is committed to gain trust from society, in addition to creating social values through our business operations.
Through charitable donations and grants, we live up to our commitment and responsibility to address social issues.

1. Priority Areas and Activities
Our charitable donations and grants efforts are focused on following areas: "Medicine and Health", "Global Environment" and "Science and Technology".
Also, our contributions shall be socially just and shall follow ethical norms.
1. Charitable Donations
We provide monetary aid and/or in-kind donations to philanthropic activities, and contribution activity for local community based on CSR for
humanitarian aid. Aid and donations provided for disaster relief will also be considered charitable donations.
2. Grants
We provide monetary aid and/or in-kind donations to education as well as research activities, conducted by organizations for public welfare, that relate
to four priority areas: "Medicine and Health", "Global Environment" and "Science and Technology".

2. Compliance with Legal Regulations and Social Norms
We will fully comply with both Japanese and non-Japanese law and industry guidelines in respect to charitable donations and grants.

3. Rules and Organizational Systems
We clearly separate charitable donations and grants from any Olympus commercial activities, and establish guidelines and operational structures to ensuretransparency.

4. Information Disclosure
We will fully comply with Japanese and non-Japanese law and industry guidelines, will assuredly record charitable donations and grants activities, and willcommit to disclose information in a timely and appropriate manner. Furthermore, through information disclosure and active communication, we will commit todeepen mutual understanding with stakeholders.

128Basic Policy on Corporate Governance
Our Corporate Philosophy
All our activities are based on our corporate philosophy, "Making people's lives healthier,safer and more fulfilling". Following this philosophy, we aim to improve our company’s
continuous development and mid- and long-term corporate value for all stakeholders,
including shareholders.
Basic Idea Regarding Corporate Governance
Based on our fiduciary responsibility to shareholders and our responsibility to
stakeholders including clients, employees and local communities, etc. as well as theabove corporate philosophy, our company has implemented basically the principles of the
Corporate Governance Code and developed this policy with the aim of realizing effective
corporate governance.
1. Securing Shareholders’ Rights and Equality(1) We respect shareholders’ rights and secure their substantial equality.
(2) We take appropriate steps to improve the environment pertaining to the exercise ofrights at the general meeting of shareholders.
(3) If it is judged that listed shares will contribute to the improvement of Olympus
group’s corporate value in the mid- to long-term, then, upon verifying the economic
rationality and the future prospects for the mid- to long-term, we will hold the listed
shares. Every year, the Board of Directors will verify the suitability of ownershipconsidering comprehensively the purpose of holding, the benefits associated withholding and the risks, and gradually reduce shares that we judged not to be suitablefor possession. In order to exercise shareholders’ rights regarding policy
shareholdings, we will exercise its voting rights on all agenda items, and from theviewpoint of improving the mid- to long-term corporate value of an enterprise issuingsuch shares, will consider said enterprise’s financial condition and decideappropriately about whether to approve or disapprove each agenda item.
(4) In the case of conducting related party transactions, Olympus and its subsidiaries
are required to obtain the approval of the Board of Directors of each company inaccordance with the “Job Authority Rules” and any other related rules. Its
subsidiaries are required to report to Olympus after obtaining approval from theregional headquarters.
2. Cooperation with Stakeholders other than Shareholders
Under our corporate philosophy, "Making people's lives healthier, safer and more
fulfilling." we endeavor to cooperate as appropriate with various stakeholders including
employees, clients, business connections, creditors and local communities.
We will present its values regarding appropriate cooperation with stakeholders, respect
for their interests, and ethics for sound business activities, and stipulate and implement
a code of conduct to be complied with by such members. Specifically, we have formulated
the “Corporate Philosophy”, “Our Behaviors” and the “Olympus Global Code of Conduct”
as a code of conduct for all groups, and have widely disseminated them among all officers
and employees who belong to Olympus group.

1

129

We promote diversity and inclusion for the entire organization and aim for specialized
and sustainable growth by providing opportunities to empower diverse personnel,
placing the right person in the right position, irrespective of gender, disability,
nationality, or race.
As a supervisor responsible for compliance-related matters, we have appointed a Chief
Compliance Officer (CCO). Furthermore, we have established a global contact desk
which can be available 24 hours a day in multiple languages for any employees andexternal stakeholders in addition to local internal compliance-related reporting systemin each region, We report the status of use thereof to the Audit Committee regularly andto the Board of Directors as necessary.
3. Complete Information Disclosure and Secured Transparency
Under the basic concept for all corporate activities, our corporate philosophy, "Making
people's lives healthier, safer and more fulfilling.”, we will disclose corporate information,such as management policy, financial condition, status of business activities andsustainability in a fair, timely, appropriate and active manner for the purpose ofobtaining all stakeholders’ correct understanding and trust.
4. Basic Concepts on Sustainability Related Initiatives
We identify important ESG areas and important issues (materiality) that should be thefocus in our Corporate Strategy and actively implement measures to contribute to therealization of a sustainable society through responsible corporate activities based on our
Corporate Philosophy.
5.Responsibility of the Board of Directors, etc.
(1) Role of the Board of Directors
The Board of Directors determines basic management policy, matters related to theinternal control system, and other important matters, and supervises directors andexecutive officers, in the execution of their duties.
(2) Qualification of Directors and Auditors
Having high ethical standards as well as the experience, knowledge and ability required
to create mid- to long-term corporate value, our directors spend a sufficient amount oftime for the Board of Directors in order to fulfill their own obligations and responsibilities.
(3) Diversity of the Board of Directors
We consider the diversity of the composition of the Board of Directors in terms ofinternationality, gender, career and age, as well as experience, knowledge and ability, etc.
(4) Scale of the Board of Directors
Based on Olympus group’s scale and business lines, we maintain an appropriate numberof members, fifteen or fewer persons, as stipulated in the Articles of Incorporation, inorder to effectively and efficiently exercise the functions of the Board of Directors.
(5) Independent Outside Director
From the viewpoint of increasing the supervisory functions of the Board of Directors,
more than half of the directors are independent outside directors. The independence2130standards are set forth by the Nominating Committee.
(6) Chairman of the Board of Directors
For the purpose of securing the supervisory function of the Board of Directors , anindependent outside director serves as the chairman of the Board of Directors.
(7) Committees for nomination, compensation and audit
The Board of Directors shall set up a Nominating Committee, Compensation Committee
and Audit Committee.
Nominating Committee• The Nominating Committee shall deliberate matters related to human resources atthe director and executive officer level, and shall determine the content of proposals
submitted to the General Meeting of Shareholders in relation to the appointment anddismissal of directors.
• The nominating committee consists of three or more committee members selectedfrom among the directors by the Board of Directors, and independent outside directors
constitute the absolute majority thereof. An independent outside director serves as
the chairman.
Compensation Committee• The Compensation Committee shall deliberate directors' and executive officers'
compensation-related matters, etc., and prescribe policy in relation to determining
the details of compensation, etc., and in accordance with the policy, determine thecontents of compensation, etc. for individuals.
• The compensation committee consists of three or more committee members selectedfrom among the directors by the Board of Directors, and independent outside directors
constitute the absolute majority thereof. An independent outside director serves as
the chairman.
Audit Committee• The Audit Committee shall carry out the following duties.
1) Auditing the execution of duties by executive officers and directors, and creating
audit reports
2) Determining the content of proposals relating to the appointment, dismissal andnon-reappointment of accounting auditors
3) Other duties prescribed by law or by the Articles of Incorporation, and othermatters recognized as necessary by the Audit Committee• The Audit Committee shall consist of at least three individuals selected from among
the directors by the Board of Directors, of whom more than half shall be independent
outside directors. The chairman of the committee shall be an independent outside
director. Moreover, at least one member shall be an individual who possesses extensive
knowledge related to financial and accounting.
(8) Appointment Process of the Directors
The Nominating Committee shall deliberate director candidates while making reference
to the selection criteria, hold interviews, and determine the content of proposals
3131submitted to the General Meeting of Shareholders in relation to the appointment anddismissal of directors.
(9) Fostering and Deciding the CEO’s Successor
The Nominating Committee periodically discusses a succession plan for the CEO.
As for determining the successor, the Nominating Committee discusses whether the
candidates have qualifications that are suitable for the CEO, and provides opinions andadvice to the Board of Directors. Thereafter, the successor is decided by the Board of
Directors.
(10) Compensation System
Regarding officers’ compensation (directors and executive officers), the basic policy is toprovide compensation that is suited to their duties, and to increase the awareness among
the officers in order to: “Meet expectations of various stakeholders by aiming to maximize
corporate values.” Based on said policy, the Compensation Committee focuses onappropriately setting the compensation ratio linked to short and mid- and long-term
performance, and decides officers’ compensation.
(11) Management of the Board of Directors Meeting
For the purpose of deciding on important matters and supervising business operations,
agenda items for, time of, and the frequency of holding the Board of Directors meetingare set in order to facilitate necessary and sufficient discussion. In order to facilitate
constructive discussions and the exchange of opinions at the Board of Directors meeting,materials are sent regarding matters to be discussed and matters to be reported at theBoard of Directors meeting in consideration of the time required for the attendees toprepare for the Board of Directors meeting. Moreover, the Board of Directors meetingschedule and expected agenda items are prepared in advance.
(12) Assembly for Outside Directors Only
We hold an “Executive Session,” which is held after the conclusion of every Board of
Directors meeting and an “Opinion Exchange Meeting for Outside Directors,” which isheld four times a year (once per quarter). These are meetings in which only outside
directors can participate. At each meeting, the outside directors aim to share theirrecognition while extracting management issues and providing feedback on the details
to the executive officers.
(13) Evaluation of the Board of Directors Meeting
Every year, the effectiveness of the Board of Directors is analyzed and evaluatedincluding a third party’s perspectives, and we aim to improve the effectiveness of theBoard of Directors by extracting the issues and aiming for improvements, as necessary.
Most importantly, we aim to improve our sustainable growth and medium- to long-term
corporate value. An overview of the evaluation result is released.
(14) Information Acquisition and Support System
1) We endeavor to actively provide the directors with information helpful for effectively
fulfilling their roles and duties.
2) The outside directors of Olympus may, whenever deemed necessary or appropriate,
request an explanation or report from internal directors, executive officers or
4132

employees, or request the submission of internal materials.
3) We are working to stimulate discussions at the Board of Directors, providing outside
directors with explanation of agendas in advance and setting opportunities for debate
about corporate strategy, as necessary.
4) So that the Nominating Committee, Compensation Committee, Audit Committee andany other committees can execute their duties appropriately, we shall set up an officefor each committee. The offices shall be staffed with suitable personnel, etc.
(15) Training for Directors
The directors endeavor to improve themselves including by acquiring and updating, etc.
their knowledge in order to fulfill their roles and duties. We provide newly-appointed
outside directors with various programs for acquiring knowledge concerning Olympus,
including tours to our business office and factory, as well as study groups on our business,etc.
6. Interaction with Shareholders
For the purpose of our continuous development and improvement of mid- to long-term
corporate value, the Board of Directors has stipulated and announced the Policy for
Improving the System and Initiatives for Promoting Constructive Interactions with
Shareholders.
Policy for Improving the System and Initiatives for Promoting Constructive
Interactions with Shareholders
1) Basic policy
For the purpose of our continuous development and improvement of mid- to longterm corporate value, we, centering on the CEO and the CFO, actively conduct
constructive interactions with shareholders. The IR function assists suchinitiatives through internal information exchange and improving the system forproviding shareholders’ opinions as feedback, etc. to the upper management team.
2) Policy for Interactions by the CEO and CFO
The President and the financial officer play a central role in conducting overall
interactions with shareholders toward the realization of constructive interactions.
Specifically, the CEO and the CFO will proactively establish opportunities for
direct interactions with shareholders by conducting the following in addition toindividual interviews with shareholders: briefing sessions for every quarterly
settlement, small meetings, telephone conferences with overseas investors,
domestic and international road shows on a regular basis, and participation in
conferences held by securities firms, etc.
3) Policy for IR Activities by the IR Function
By putting the IR function in charge of IR activities, we actively implement IR
activities toward solid interactions with shareholders. Specifically, in addition to
conducting individual interviews at any time as requested by shareholders, we will
regularly implement IR events, such as briefing sessions for individual investors
and facility tours. Moreover, we will actively provide information to shareholders
through the website, integrated reports, business reports for shareholders and the5133Convocation of the General Meeting of Shareholders, etc.
4) Policy for internal information exchange
The IR function, as needed, exchanges information with the Corporate Strategy
and Planning, Internal Control, the Treasury, the Accounting, and the Legal
Affairs functions etc. on a daily basis, and establishes a project team if necessary,in order to build a coordinated collaboration system. Moreover, the IR function
reports shareholders’ opinions and concerns obtained from interactions withshareholders centering on institutional investors at the Group Executive
Committee as well as the Board of Directors meeting, if necessary. Thereafter, thecontents of such opinions and concerns will be discussed.
5) Policy for Insider Information Management when Interacting with Shareholders
In accordance with the “Regulations for Insider Trading Prevention,” insider
information is strictly managed. When interacting with shareholders, the IR
function issues a reminder to the person in charge of the interaction, thereby
preventing the divulgence of insider information.
7. Revision and Abolition of this Policy
Revision and abolition of this Policy shall be subject to a resolution of the Board of
Directors.
Established June 26, 2015
Revised June 28, 2016
Revised June 19, 2017
Revised May 31, 2018
Revised June 26, 2018
Revised June 25, 2019
Revised July 30, 2020
Revised November 5, 2021

6134

Because What We Do Matters:
Olympus Global Code of Conduct

What we do matters and how we act at work matters. Through these actions, we intend to maintain the trust of our stakeholders. Our Global Code of
Conduct explains our unwavering commitment to integrity, our passion for what we do, and our shared standard of excellence. Our Code is designed to help
put Our Purpose and Core Values into practice. It serves as our guide to ethical and responsible business conduct, along with local policies and procedures.

Global Code of Conduct
Our Code is available in the following languages here:
Chinese (Simplified) | 中文（简体） (PDF: 2.5MB)

Korean | 한국어 (PDF: 2.2MB)

Chinese (Traditional) | 中文（繁体） (PDF: 2.4MB)

Polish | Polskie (PDF: 2.1MB)

Czech | čeština (PDF: 2.1MB)

Portuguese (Brazilian) | Português (Brasileiro) (PDF: 2.1MB)

English (PDF: 2.2MB)

Portuguese (European) | Português (Europeu) (PDF: 2.0MB)

French (Canadian) | Français (Canadien) (PDF: 2.1MB)

Russian | русский (PDF: 2.1MB)

French (European) | Français (Européen) (PDF: 2.1MB)

Spanish (European) | Espanol (Europeo) (PDF: 2.1MB)

German | Deutsch (PDF: 2.1MB)

Spanish (Mexican) | Espanol (Mexicano) (PDF: 2.1MB)

Italian | Italiano (PDF: 2.1MB)

Thai | ภาษาไทย (PDF: 2.2MB)

Japanese | 日本語 (PDF: 2.4MB)

Vietnamese | Tiếng việt nam (PDF: 2.2MB)

135

Whistleblowing System

Whistleblowing System
Olympus Corporation and all Olympus Group companies abide by the laws, regulations and ethics standards in each industry. In April 2019, Olympus
launched Global Whistleblowing Desk "Integrity Line" on top of current External Reception Desk and Internal Reception Desk. Please make use of these 3
reception desks when you get to know the inappropriate actions or questionable conducts.

Integrity Line (Global Operation Desk)
Integrity Line is operated by an independent company. This global desk is designed for all employees and Olympus business partners, who canreport in confidence. Anyone may report anonymously, except where specifically prohibited by local laws. Special technology incorporated in thesystem guarantees no traceability in both web reporting and telephone.
Operation time: 24 hours/day, 365 days/year

Web reporting: http://olympus.ethicspoint.com (multi-languages)

Telephone: free dial 0120-929-973 (select 1 for Japanese, select 2 for English or others)*Other dial numbers outside Japan can be found at Olympus regional homepages.

External Reception Desk (Independent law firm in Japan)
Operation time

: 9:30-17:30 of business day

Email: yohamabe@ybb.ne.jp

Telephone: 03-5272-8156 (switchboard)Fax: 03-5272-8163

Post: 1-1-7 Nishi-Waseda, Shinjuku-ku, 169-0051
Waseda Univ. Legal Clinic
Attention: Yoichiro Hamabe, Esq

Internal Reception Desk (OT Group Compliance Japan)
Operation time

: 8:45-17:30 of business day

Email: JP-Compliance-Helpline@olympus.com

136Global Standards:
What Olympus Expects of Third Parties

These Global Standards ("Global Standards") have been designed to provide guidance to our third parties on the fundamental values, principles, andstandards of behavior which Olympus expects whenever a third party is engaged by or on behalf of the Olympus Group. We consider our third parties to be
our partners in business and we expect the same high standard of integrity from them that we expect from our employees and managers.
Third Party: A third party is any external company, organization or individual, not owned, controlled, or employed by an Olympus Group company that
Olympus has hired or intends to contract to provide goods or services or engage in business activities with or on behalf of an Olympus Group company.
The Global Standards are available through the following links:
Arabic | ‫( العربية‬PDF: 7.4MB)

Korean | 한국어 (PDF: 7.4MB)

Chinese (Simplified) | 中文（简体） (PDF: 3.9MB)

Polish | Polskie (PDF: 7.3MB)

Chinese (Traditional) | 中文（繁体） (PDF: 7.5MB)

Portuguese (Brazilian) | Português (Brasileiro) (PDF: 21.5MB)

Czech | čeština (PDF: 7.4MB)

Portuguese (European) | Português (Europeu) (PDF: 7.4MB)

English (PDF: 4.8MB)

Russian | русский (PDF: 7.4MB)

French (Canadian) | Français (Canadien) (PDF: 3.8MB)

Spanish (European) | Espanol (Europeo) (PDF: 7.3MB)

French (European) | Français (Européen) (PDF: 3.8MB)

Spanish (Mexican) | Espanol (Mexicano) (PDF: 7.3MB)

German | Deutsch (PDF: 5.1MB)

Thai | ภาษาไทย (PDF: 3.9MB)

Italian | Italiano (PDF: 3.8MB)

Vietnamese | Tiếng việt nam (PDF: 7.4MB)

Japanese | 日本語 (PDF: 7.5MB)

137

Olympus Group Tax Policy

Introduction
Our Corporate Philosophy and Global Code of Conduct set out the legal and ethical principles that we apply to our business and defines our relationships
with all of our stakeholders, which includes tax authorities. Our Corporate Philosophy, “Our Core Values”, includes Empathy and Integrity. We earn trust andempathy with patients, customers, healthcare professionals, authorities and the communities with integrity in all aspects of our operations, and “Our Core
Values” governs the way we operate our business.

Group Tax Policy
This Group Tax Policy outlines the principles of how Olympus people are expected to operate with respect to tax matters. The Policy is set out in detailbelow.

1. Compliance with laws, rules and regulations
Olympus is committed to observing all applicable tax laws, rules, regulations, and reporting and disclosure requirements, wherever there is a requirement todo so as a result of our business presence and transactions, in line with “Our Core Values”, “Integrity”, as described in the Corporate Philosophy and Global
Code of Conduct.
A dedicated tax function (Group Tax) collaborates with the Group’s businesses to provide advice and guidance necessary to ensure compliance, obtaining
external advice where necessary. There are clear management responsibilities, backed up by regular monitoring and review, carried out by members ofGroup Tax with the necessary experience and skill set and where necessary support is provided by external professional advisors.

2. Consistency with Group strategy
Tax decisions are made at all times in a manner which is consistent with and complements the Group’s overall business strategy. Key business decisions are
made cognisant of the tax consequences. Group Tax partners with the businesses to ensure there is consistency.

3. Governance, Assurance and Tax Risk Management
Responsibility and accountability for the Group’s tax affairs is clearly defined in accordance with a Tax Responsibility Matrix, and decisions are taken at an
appropriate level, determined by formal Group Delegation of Authority including Board approval.
Diligent professional care and judgement are employed to assess tax risks in order to arrive at well-reasoned conclusions on how the risks should bemanaged. Olympus has a conservative approach to tax risks and seeks to mitigate tax risks as far as possible. Where there is uncertainty as to theapplication or interpretation of tax law, appropriate written advice evidencing the facts, risks and conclusions may be taken from third party advisers to
support the decision-making process.
In reviewing the risks of a tax action or decision, the following would be considered
The legal and fiduciary duties of directors,
The requirements of our Group compliance and ethics policies,
The maintenance of corporate reputation, having particular regard to the principles regarding the way we interact with the stakeholders around us,
embodied in the Group’s approach to the stakeholders as described in the Corporate Philosophy of Olympus, “Empathy”,
The tax benefits and impact on the Group’s reported result comparative to the potential financial costs involved, including the risk of penalties andinterest,
The wider consequences, as a double taxation where a specific income is taxed by multiple countries, of potential disagreement with tax authorities,
and any possible impact on relationships with them.

138Group Tax employs various risk management processes and systems to provide assurance that the requirements of the Group Tax Policy are being met.
This includes compliance and risk monitoring systems and internal audit reviews of tax compliance activity across the Group.

4. Relationships with tax authorities
Olympus is committed to the principles of openness and transparency in its approach to dealing with tax authorities wherever we operate around the world.
Where there is uncertainty as to the application or interpretation of tax law, we secure certainty by consultation with advance information disclosure. All
dealings with the tax authorities and other relevant bodies are conducted in a collaborative, courteous and timely manner. The aim would be to strive forearly agreement on disputed matters, and to achieve certainty wherever possible.

5. Tax Planning
Olympus pays its fair share of taxes in the countries where it operates, and considers this a part of its contribution to community. Olympus does notundertake aggressive tax planning or artificial tax arrangements such as profit allocation to law tax jurisdictions or tax haven and restructuring schemewithout economic reason for tax avoidance. Olympus maintains and follows a transfer pricing policy that is based on OECD Transfer Pricing Guidelines andthe Base Erosion and Profit Shifting (“BEPS”) Action Plan which is the international framework to prevent cross-border tax avoidance activities. Also,
Olympus applies intragroup transaction pricing, or Transfer Pricing, which complies with the Arm’s Length Principle. In particular, Olympus adhere to theprinciple that profits should accrue where economic value is created and that tax follows business reality and is underpinned by business substance.

6. Incentives and reliefs
Olympus believes that it should pay the amounts of tax legally due in any territory. There will, however, be circumstances where this amount may not beclearly defined, or where alternative approaches may result in differing tax outcomes. The Group uses its best judgement in determining the appropriate
course of action, using available reliefs and incentives where possible for tax cost optimization.

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Olympus Group guidelines covering the prevention of bribery

The Olympus Group does business throughout the world and seeks to earn and maintain the respect and trust of all of our stakeholders - patients,
physicians, customers, governments and shareholders. Olympus expects that each and every one of our employees act in a manner that is
consistent with law, Olympus policies and our values. We also expect and require that third parties who act on Olympus' behalf operate in the samemanner.
Olympus has developed policies, procedures and training on key issues, such as the prevention of bribery and the support of fair competition to
help assure that we provide our employees with the tools to meet these expectations. We encourage all our employees to speak up and share any
concerns they might have. We will continue to hold ourselves to high standards but are always working to improve, so that we can meet or exceed
high expectations. The Guideline below summarizes our approach. We invite you to support these efforts, and let us know if we have areas in which
we can improve.
Olympus welcomes any reporting of concerns about unethical or unlawful conduct directly to Olympus Compliance Department, which can bereached directly via email at compliance@olympus.com. Company policy prohibits retaliation against any individual for reporting concerns to theabove mentioned email in good faith.
Eva Gardyan-Eisenlohr
Chief Compliance Officer
Olympus Corporation

1. Background
At Olympus, all our activities are based on our corporate philosophy of "Making people's lives healthier, safer and more fulfilling." Following this philosophy,
Olympus affirms its commitment to carrying out responsible actions underpinned by a strong sense of ethics, in addition to strict compliance with laws.
Olympus does not tolerate bribery for the purpose of obtaining illicit benefits or unfair business advantages. In addition, Olympus does not engage in any
actions that could be perceived as bribery of any of its business partners, including public officials.
As a signatory to the United Nations Global Compact, Olympus is significantly increasing its efforts to ensure that the Compact's ten principles, including the
introduction of practical anti-corruption measures, the protection of human rights, the elimination of unfair labour practices and the management ofenvironmental issues are met.

2. Objective
This guideline summarizes Olympus' approach to the prevention of bribery and corruption. We ask that you familiarize yourself with this approach, whichtakes into account various anti-bribery laws and regulations both in and outside of Japan, and conduct your business activities accordingly to ensure that all
actions that constitute or could be suspected to constitute bribery or corruption are prevented.
Please note that the anti-bribery laws and regulations referred to herein include the following statutes, international conventions, ministerial orders andregulations from both in and outside of Japan. As the laws of some non-Japanese jurisdictions, including those of the United States and the United Kingdom,
have extraterritorial ramifications, a number of Japan-based companies doing business globally are required to comply with them as well.
1. Japan: Unfair Competition Prevention Act (Article 18)
2. U.S.: Foreign Corrupt Practices Act (FCPA)
3. U.K.: UK Bribery Act 2010
4. Equivalent statutes that are based on or concern for the OECD Convention on Combating Bribery of Foreign Public Officials in International BusinessTransactions

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3. Olympus' Approach to the Prevention of Bribery and Corruption
Olympus has set forth internal rules applicable to its Group companies in order to ensure compliance with all anti-bribery laws and regulations.

Prohibition of any acts considered to be bribery with regards to:(1) Public Officials
The provision, acceptance or promises of and demands for money or other undue favours, and the proposal or authorization of the provision or acceptancethereof to or from public officials or any persons equivalent thereto ("Public Officials") with the intention of influencing their actions or decisions taken or madeas part of their duties for the purpose of obtaining illicit benefits are prohibited. Public Officials include domestic or foreign public officials, international publicorganizations, political parties and members thereof, candidates for any public office and all persons who are potentially regarded as public officials.

(2) Non "Public Officials"
The provision, acceptance or promises of and demands for money or other undue favours and proposals and the authorization of the provision or
acceptance thereof with the intention of influencing the recipient's actions or decisions for the purpose of obtaining illicit benefits are prohibited.

Prohibition of bribe acceptance
Money or other undue favours given with the intention of inappropriately influencing corporate or business decisions or business execution of Olympus are
not given, accepted, promised, demanded, proposed or authorized.

Definitions:Definition of Bribery
Bribery refers to the offering, giving, soliciting, or receiving of any item of value as a means of influencing the actions of an individual holding a public or legal
duty, in other words, the giving of something of value to someone with the intent of obtaining undue favourable treatment from the recipient.
Forms of Bribery
Money and other undue favours including all cash and cash equivalents, gifts, services, employment, loans, travel expense payments, food and beverages,
entertainment and hospitality, including invitations to athletic events, political and charitable contributions, subsidies, per diem allowances, sponsorships,
rewards and all other favours or forms of value given under any pretext that benefits the recipient. Note that money and other undue favours, however
negligible the amount may be considered bribes and are therefore regulated.
The indirect provision of money or other undue favours through your business partners, customers, agents and intermediaries ("Third Parties") is also
prohibited.
Public Officials"Public Officials" are, whether foreign or domestic, any government employee; a political candidate or party official; a representative of a governmentowned/majority-controlled organization; a representative carrying out public services; an employee of a public international organization. This term also
refers to immediate family members of the public official, such as spouse, dependent child, or dependent household member, of the above-mentioned
individuals.

4. Our Request to You:We at Olympus vigilantly enforce our anti-bribery policy. We hereby request that you develop a full understanding of the Olympus Approach to the Preventionof Bribery presented above and adhere to the same principles when dealing with Third Parties. To fully ensure that this objective is met, we ask you to takethe following steps when contracting or dealing with a Third Party in connection with the performance of your contractual obligations to Olympus.

(1) Due diligence on Third Parties:

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When contracting with your business partners, you are requested to conduct a preliminary review on your business partners to preclude any possibility ofbribes being exchanged or any similar acts to be committed through such Third Parties.

(2) Anti-bribery provisions in contracts:
Your contracts with Third Parties must include anti-bribery provisions in clauses addressing representations, record-keeping, the right to audit, record control
and maintenance, and contract termination, etc.

(3) In-house education:
Please educate all directors and employees of your organization about anti-bribery and corruption regulations to ensure that they will not commit any actionthat constitutes bribery or be suspected of giving or receiving bribes in any situation. In particular, your directors and employees should be aware that a
violation can lead to serious consequences for your organization, including termination of business contracts, fines, and even criminal or civil charges
pressed against the individuals responsible.

(4) Monitoring and audits:
We request that you keep track of the progress made in your efforts to prevent Third Parties from offering or accepting bribes and monitor the state ofcompliance by your organization with regard to your internal rules. Additionally, periodic audits must be conducted to verify the effectiveness andappropriateness of such efforts.

(5) Record keeping:
Please maintain accurate books and records for all your business transaction related to Olympus.
Established on April 1, 2015142

Disclosure Policy

Olympus’s corporate philosophy states “making people's lives healthier, safer and more fulfilling,” and serves as the fundamental idea for all its corporate
activities. To this end and in order to gain proper understanding and confidence of all the stakeholders, Olympus shall disclose its management policies,
business activities, non-financial and other corporate information in a fair, timely, appropriate and proactive manner.

1.Information Disclosure Standards
In disclosing its information, Olympus shall comply with the laws and the Financial Instruments Exchange rules, and shall disclose information in compliance
therewith. Olympus shall also proactively disclose those information which may have a material impact on its corporate value evaluation in accordance with
the Article 27-36 of the Financial Instruments and Exchange Act (so-called “Fair Disclosure Rules”) and the Internal Information Disclosure Criteria
regardless whether such disclosure is not required by the laws or the rules.

2.Method for Information Disclosure
Olympus shall disclosure information, as required by the Timely Disclosure Rules of the Tokyo Stock Exchange, will be disclosed through the Timely
Disclosure network (TDnet) of the Tokyo Stock Exchange in general. Such information will then immediately be posted on our website. Furthermore, any
information not required by the laws or the rules will be disclosed through a press release or via the website.

3.Handling of Undisclosed Material Information
If any non-public material information is disclosed only to certain third parties and is considered that may have a significant impact on the corporate value
evaluation of Olympus, Olympus shall immediately disclose such information.

4.Quiet Period
In order to prevent any divulgation of financial closing information, the period from the end date of financial closing until the date of announcement offinancial results shall be set as a "quiet period," during which officers and employees shall refrain from making comments or answering questions that relates
to financial results. Provided, however, the same shall not apply in the case where any event subject to Timely Disclosure occurs or if the actual financial
results materially diverges from the forecast, Olympus Shall disclosure such information as required by the Timely Disclosure Rules of the Tokyo Stock
Exchange.

Applicable Scope
The Information Disclosure Policy of Olympus is applicable to all Olympus group companies.

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The Ethics Committee

In conducting medical research involving human subjects, we check the ethical and scientific appropriateness of the research through the Ethics Committee,
which is composed of experts. To enhance the transparency of the Committee, we disclose its rules, membership list and the minutes of its meetings to the
public.

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Payments to Healthcare Professionals and Healthcare Organizations

The Olympus Group pledges not only to comply with laws and regulations, but also to uphold high ethical standards, and to ensure that all management andemployees consider “what is right” and act responsibly. We will ensure the spirit of compliance at all times and will not tolerate any conduct that violates laws,
regulations, social norms, or internal rules. In our relationships with medical institutions, we follow these ethical standards and conduct activities based on
local guidelines to ensure that society at large understands that we conduct our corporate activities based on fair and appropriate judgment.

Japan
Transparency Guidelines
Information on funding to medical institutions and healthcare professionals, etc., can be found here
Inquiries regarding transparency guidelines may be made here

Americas
Information on funding to medical institutions and healthcare professionals, etc., can be found here

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Olympus Group Information Security Policy

All our activities are based on our corporate philosophy, "Making people's lives healthier, safer and more fulfilling". Following this philosophy, The Olympus
Group appropriately protects and manages all the information and our information systems we handle ("Information assets"), as well as customer informationon our products and services while making proactive use of them and will continuously review and improve these activities.

1. Compliance with Laws and Regulations
We will comply with the laws, regulations, and contractual duties related to information security in all countries and regions where we operate.

2. Management and Protection of Information
We will manage and protect the information assets (customer and internal) appropriately in our business activities. We will also implement measures toprevent the inappropriate use (e.g., violation of laws and regulations related information security) of these assets detrimental to Olympus and any acts thatmight decrease the value of the assets, such as falsification, destruction, leakage and abuse.

3. Establishment of an Information Security Organization Structure
To ensure the appropriate management and protection of our information security related the Olympus Group business, we will establish an information
security organization structure led by Chief Information Security Officer (CISO) and clarify the related responsibilities.
We will make effort to manage and establish information security under the global governance structure that should comprehensively covers Olympus every
regions and functions (product, IT, data protection, and so on) initiated by CISO, and fulfill accountability to our stakeholders.

4. Establishment of Rules
We will establish the in-house rules to clarify the measures to be implemented to ensure information security. We will also revise these rules, processes andcontrols continuously.

5. Education
We will increase information security awareness among all affiliates and provide them with necessary education and training on information security.

6. Emergency Responses
We will work to prevent information security-related incidents. If an information security incident occurs, we will make prompt responses to it and implement
measures to prevent the reoccurrence of similar problems.
We will implement countermeasures promptly, not to spread the impact of accidents, such as information sharing with authorities or information disclosure forcustomers.

146

Internal Control System

Basic Policy on the Internal Control System
Our basic policy on the internal control system is as follows:
Revised date : March 24, 2023 (PDF: 142.8KB)

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Olympus Group Risk Management and Crisis Response Policy

Olympus Group will, in order to realize the “Basic Management Policy”, conduct global risk management activities to identify and assess the risks that might
affect the achievement of its group management objectives, and take prompt and appropriate actions to minimize any crisis and damage and to recover its
business, in the event that a risk materializes.

1. Basic Purpose
The basic purposes of this policy are as follows.
(a) To secure the safety of customers, regional residents, officers, employees and their families(b) To keep the managerial resources intact and ensure the continuity of business(c) To improve the quality of business management and increase the corporate value(d) To ensure the stable and continued supply of medical products and services

2. Action Guidelines(1) We respond to stakeholders’ expectation by managing risks integrally on a company-wide basis, and through responses implemented with sufficientconsideration for social demand and/or change.
(2) We incorporate risk management into our day-to-day global business activities.
(3) We integrate risk management consciousness throughout our organizations and members, and continuously increase our risk response ability, throughglobal risk management activities.
(4) We take prompt, responsible actions prioritizing human life and safety in case of emergency.
(5) We make every effort to recover business promptly based on the basic philosophy “Continuity of Medical Front Line”, in the event that businessdisruption occurs in an emergency.

3. Establishment of a Risk Management System
We will establish a risk management system and a crisis response system on a global basis and clarify the related responsibilities in order to ensure
conducting risk mitigation activities and making appropriate management and responses in case of emergencies.

4. Establishment of Rules
We will establish the in-house rules and manuals to clarify the measures to be implemented, in order to ensure the Company is conducting appropriate risk
mitigation activities and making appropriate responses in case of emergencies.

5. Establishment of Process/Operation
In order to achieve the Basic Purpose as described in this policy, we will take any measures to improve the effectiveness of risk management and crisis
response by checking their development status and examining countermeasures through necessary education, training and monitoring, so that eachorganization and all personnel in the Group will be able to act appropriately in line with the Action Guidelines.

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Handling of Personal Information

Olympus* recognizes the importance of protecting personal information in the network society and believes that it is Olympus’s social responsibility to protect
personal information thoroughly. Olympus will handle personal information properly in accordance with the below “Olympus group personal information
protection policy”.
*”Olympus” in the context of ”handling of personal information” carries the meaning of Olympus and its group companies.

Issue date 1 April 2022
Latest revision: 1 April 2023

Olympus Group personal Information protection policy

1.Implementation of internal measures
Olympus has implemented internal measures to protect all personal information. All Olympus directors and employees receive training andcommunication accordingly. To ensure proper implementation of necessary measures to protect personal information, inspections are conducted on aregular basis.

2.Proper Handling of Information
Olympus will acquire personal information only within the scope necessary and informs the principal about the purpose of use at the time of collection.
In addition, Olympus handles personal information only within the scope necessary and will respond to a principal’s request for disclosure, rectification,
deletion or cease of use of his or her personal information swiftly to and to a reasonable extent. Furthermore, Olympus handles specific personal
information only within the scope permitted by law.

3.Limitation of Disclosure and Provision of Personal Information to Third Parties
Unless consent of the principal is obtained, or otherwise permitted by law, Olympus will not disclose or otherwise provide retained personal information
to third parties.
Furthermore, unless permitted by law, Olympus will not disclose or provide specific personal information to any third party, regardless of whether the
principal’s consent has been obtained or not.
In cases in which Olympus is outsourcing a business activity, Olympus will enter into a contract with the outsourcing partner that includes obligations toproperly handle personal information. In addition, Olympus will perform sufficient supervision and instructions towards the outsourcing partner.

4.Ensuring Accuracy and Safety
Olympus strives to maintain accurate and up-to-date retained personal information and takes appropriate security measures against risks such as
unauthorized access to personal information, loss, destruction and falsification, and leakage of personal information.

5.Compliance with Laws and Regulations, and Continuous Improvements
Olympus obeys to laws, regulations, and standards applicable to the protection of personal information, and strives to review and make continuous
improvements to the above-mentioned measures.

Declarations as stipulated in the Act on the Protection of Personal Information
Olympus hereby declares the following information as stipulated in the Act on the Protection of Personal Information.

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1. Personal information handling business operators

Personal information handling business

Address

operators

Representative

Olympus Corporation

Shinjuku Monolith, 2-3-1 Nishi-Shinjuku, Shinjuku-ku, Tokyo 163-0914

Stefan Kaufmann

Olympus Medical Systems Corp.

2951 Ishikawa-machi, Hachioji-shi, Tokyo 192-8507

Tomohisa Sakurai

Olympus Marketing Corp.

Shinjuku Monolith, 2-3-1 Nishi-Shinjuku, Shinjuku-ku, Tokyo 163-0914

Koji Ando

Nagano Olympus Co., Ltd.

6666 Inatomi, Tatsuno-machi, Kamiina-gun, Nagano 399-0495

Tatsuya Honda

Aizu Olympus Co., Ltd.

3-1-1 Niiderakita, Aizuwakamatsu-shi, Fukushima 965-8520

Kenji Matsuoka

Aomori Olympus Co., Ltd.

2-248-1 Okkonoki, Kuroishi-shi, Aomori 036-0357

TomoakiKabayama

Shirakawa Olympus Co., Ltd.

3-1 Oaza-Odakura-Aza-Okamiyama, Nishigo-mura, Nishishirakawa-gun,Kenichi Katagiri

Fukushima 961-8061
TmediX Corporation

Shinjuku Monolith, 2-3-1 Nishi-Shinjuku, Shinjuku-ku, Tokyo 163-0914

Keisuke Fujii

Olympus Digital System Design Corp.

8F Nihon-Seimei Tachikawa Bldg., 2-20-5 Akebono-cho, Tachikawa-shi,

Mitsuhiko Saito

Tokyo 190–0012
Olympus Terumo Biomaterials Corp.

Daiwa Sasazuka Tower, 1-50-1 Sasazuka, Shibuya-ku, Tokyo 151-0073

Manabu Ishikawa

Olympus-Supportmate Corp.

2951 Ishikawa-machi, Hachioji-shi, Tokyo 192-8507

Kumi Tatsuta

2. Utilization purpose of personal information
Olympus will utilize acquired personal information for the purposes stated below.
In cases where, by means of contract or other notifications, we have specified separate utilization purposes, said utilization purposes will takeprecedence over those stated below.
Regardless of the utilization purposes stated below, there might be further utilization cases to the extent laws permits.

Subject to acquisition

Utilization purpose(1) Personal information of customers

Provision of information related to arrangement and shipment of products and services

and medical personnel

Sales of products, their repair and maintenance and inspection as well as provision of after sales
services, management of inquiries
Notification and performance of seminars, academic conferences, exhibitions, events, contests,
campaigns, trainings, and other activities hosted, co-hosted or sponsored by an Olympus Group
company or in which Olympus has a display or is giving a presentation
Planning, research, development and marketing of products
Access control and access history management of facilities managed by Olympus
Performance of negotiations, meetings and other communications with customers
Handling and documentation of all inquiries, requests for materials and other customer services
Handling of all payment procedures
Performance of investigations and documentation, as well as reports to government institutions
as required by law and other legal ordinances.

(2) Personal information of business

Performance of negotiations, meetings, communication and other interactions with business

partners’ and legal entities’ affiliatedpartners as well as provision of information thereto

personnel

Performance of business operations commissioned to Olympus by business partners
Invoicing and management of business affairs between Olympus and business partners
Access control and access history management of facilities managed by Olympus

150Subject to acquisition

Utilization purpose
History management of education provided by Olympus
Performance of investigations and documentation, as well as reports to government institutions
as required by law and other legal ordinances.

(3) Personal information of shareholders

Exercise of rights and obligations under corporate law
Provision of benefits to the shareholder in accordance with his/her position as a shareholder
Performance of measures to maintain a smooth the relationship between the shareholders andOlympus, in terms of the members of the association and the association itself
Performance of shareholder management as stipulated by law, such as management ofshareholders, preparation of shareholder data etc.

(4) Personal information of job

Selection of candidates, provision of information and interview results

applicants (incl. interns)

Performing operations related to the recruitment process
Management of recruitment operations(5) Personal information of directors andBusiness-related communication and procedures

employees (incl. their families andCommunication with corporate health insurance associations, corporate pension funds and labor

relatives, and retirees)

unions, as well as Among Olympus group companies
Performance of investigations and documentation, as well as reports to government institutions
as required by law and other legal ordinances.
Operations related to human resources and labour management
Further utilization as stipulated in internal policies.

(6) Personal information patients

Performance of investigations and documentation, as well as reports to government institutions
as required by law and other legal ordinances.

3. Provision of personal information to third parties

Except for the instances stated below, Olympus will not share any personal information with third parties.
Consent has been provided by the individual
The information is provided to contractors or other parties to the extent necessary to achieve the utilization purposes
Mergers or other cases of business succession
Joint utilization as stipulated in chapter “4. Joint utilization of personal information”
In urgent cases that require the protection of the life, body, or property of an individual, as well as other cases permitted by the Act on the Protectionof Personal Information (APPI)To the extent permitted by other laws and regulations

Supervision of entrusted parties (outsourcing)
In cases where business activities are entrusted to other parties, Olympus ensures sufficient supervision and instructions, incl. conclusion of contracts
that stipulate the appropriate handling of personal information.

Provision of personal information to foreign countries
Personal information acquired by Olympus might be processed by Olympus or entrusted parties in other countries or regions such as Europe, America,
China, etc.
In such cases, privacy regulations of the specific country or region will apply. For an evaluation of privacy regulations, kindly refer to the official websiteof the Personal Information Protection Commission website(Japanese only).

In cases where Olympus provides personal information to Olympus or entrusted parties outside of Japan, Olympus will implement sufficient measures
to protect personal information to the extent required by Japanese and foreign privacy law.

4. Joint utilization of personal information(1) Olympus

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Olympus might jointly utilize acquired personal information with other Olympus group entities.
(a) Categories of personal information utilized jointly
Examples include name and contact information (company name, department name, job title, address, telephone number, fax number, e-mail address,
purchase history, inquiry and request history) etc.
* When sharing personal information other than the above, the principal will be separately notified either directly or in the form of an announcement.

(b) Scope of joint utilization
All Olympus group entities(c) Utilization purpose
To fulfill the services provided to individuals and to fulfill the purposes that have been notified or published.
(d) Entity responsible for joint utilization
Olympus Corporation（For the representative and address, kindly refer to chapter “1. Personal information business handling operators”）(2) Corporate health insurance association, corporate pension funds and Labor unions(a) Categories of personal information utilized jointly
Personal information of employees, retirees and their family members (e.g., employee number, name, sex, birth date, date of employment, department,
employment status, personnel treatment data necessary for labor-management consultations) in the possession of each party, as well as other datanecessary for the achievement of the utilization purposes.
(b) Scope of joint utilization
Information shall be jointly utilized among corporate health insurance associations, corporate pension funds and labor unions.
(c) Utilization purpose

Appropriate management of employees, retirees and their families
Communication, notification and provision of information to the individual
Use as basic data for labor-management affairs (negotiations) on wages and other labor conditions of the individual
Smooth implementation of appropriate measures among joint parties in the event of disasters or emergencies relating to Olympus or the individual
Performance of practical operations relating to welfare programs offered by joint parties(d) Entity responsible for joint utilization
Olympus Corporation（For the representative and address, kindly refer to chapter “1. Personal information business handling operators”）(3) Nihon Ultmarc Inc.
Olympus Corporation, Olympus Marketing Corporation, Olympus Terumo Biomaterials Corporation and TmediX Corporation handle the "Medical
Database (MDB)", a database of basic information on healthcare professionals and medical institutions nationwide provided by Nihon Ultmarc Inc.,
jointly with certain healthcare-related companies.
Please refer to Nihon Ultmarc's website for the utilization purpose of personal information and other details.

個人情報の共同利用について | 株式会社日本アルトマーク / Nihon Ultmarc INC.

5. Technical and organizational security measures

Establishment of basic policy
For handling personal information appropriately, Olympus established a basic policy including topics such as “implementation of an internal system”,“proper handling information”, “limitation of disclosure and provision of personal information to third parties”, “ensuring accuracy and safety”,“compliance with laws and regulations, and continuous improvements”.

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Establishment of rules for handling personal information
Olympus has established a policy covering stages and performance of activities such as acquisition, use, storage, provision, deletion/disposure of
personal information. Relevant managers in charge are stipulated as well.

Organizational security control measures
Olympus appointed a responsible staff/managers in charge of supervising the handling personal information Roles and responsibilities are clearly
defined.
Olympus has implemented appropriate processes to promptly respond to (potential) incidents.
Olympus has established measures to ensure transparency over data processing activities.
Olympus periodically checks the status of handling personal information.

Personnel-related security measures
Olympus regularly educates the directors and the employees on security control measures related to protection of personal information.
Regular communication as well as events and campaigns to promote awareness.
Items related to the confidentiality of personal information are stipulated in internal rules etc.

Physical security control measures
Appropriate access control is implemented for employees in areas where personal information is handled.
When carrying personal information, encryption and password protection are used to prevent leakage etc.
When documents or electronic media containing personal information are disposed of, they are done so in a manner that makes them
unrecoverable.
Deployment of security personnel to protect premises

Technical security control measures
Access controls are in place to limit the access to personal information only persons necessary.
Olympus has established measures to protect personal information handling systems from unauthorized access and malicious software.

Security control measures for entrusted parties
Rules in place for selection of adequate parties that handle personal information.
Contracts etc. in place between Olympus and entrusted parties that stipulate handling of personal information based on Olympus standards.

6. Disclosure of personal information

Olympus is ready to respond to individuals’ requests (incl. such, filed by the principal’s agent) for disclosure※1 of the individuals retained personal
information.
For individuals who have registered through any websites, there might already be an inquiry function that can be used to make the request directly via
that website.
※1 Disclosure etc. includes: disclosure, rectification, addition, deletion, cease of use, erasure, cease of third-party provision of the principal’s personal information,
disclosure of records of third party provision, and notification of purpose of use.

Request form

Kindly download the form below and fill in the necessary information.
Disclosure etc. request form(Only requests regarding utilization purpose and disclosure require a fee) (PDF:
222.5KB)

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Documents to submit

1. Disclosure request form
2. Identification for verification that the Personal Information in question does indeed pertain to the individual
who is making said request (Either (1) or (2) must be provided)① Copy of a valid drivers' license or a valid passport: One copy
② Copy of pension card or health insurance card together with certificate of residence: One set
3. Fee (Only requests regarding utilization purpose and disclosure) 1,600 Yen / company (in fix-amountpostal money order)

Requests via agent

If the demand is filed by an agent, the following must be submitted, in addition to the documents specified in(1) through (3) above:
1. For agents with Power of Attorney:
Documents providing evidence that the party making the request has Power of Attorney from the person towhom the personal information relates (Both (1) and (2) below must be submitted).
① Power of Attorney (with the seal of the grantor): 1x② Certificate of a Grantor incl. seal: 1x
2. For statutory agent:
Document providing evidence that the said agent is legally entitled to represent the individual in question:
1x

Address

Personal Information Inquiry Desk HR HRIS operations site operation & planning
Olympus Corporation
Shinjuku Monolith, 2-3-1 Nishi-Shinjuku
Shinjuku-ku, Tokyo
163-0914

Disclaimer

Kindly send the request/documents via a method that is tracable.
After all necessary processes at Olympus have been performed, a reply will be made via registered mail ore-mail. Olympus will reply within three weeks upon receival of the request. In cases that take more time,
Olympus will inform the individual.
For requests regarding the utilization purpose and disclosure of personal information, kindly enclose 1,600
Yen in the envelope (fix-amount postal money order).
(1,600 Yen per request)
Only fix-amount/postal money order is accepted
In cases where Olympus may legally not be able to handle your request or where no retained personal
information exist, the individual will be informed via e-mail or post. (Kindly understand that the fee will not
be refunded).
In cases of lack of information on part of the requestee, Olympus will contact said individual. If no further
reply was received within 1 month thereof, the request will be dismissed.
The personal information received in relation to the request will only be used to fulfill said request and not
returned.

7. Provision of anonymously processed information

Olympus will utilize anonymously processed information as stipulated in the Act on the Protection of Personal Information and other guidelines andlaws for the purposes of promotion and extension of health/life expectancy.

Provision of anonymously processed information
Provided information that incl. categories related toindividuals

Provision method

Entities providing anonymously
processed information

Patient-related information（age, gender）

Password-encrypted digital files, shared

Olympus Corporation

Information regarding the surgery (disease name, surgical

via portable device or highly encrypted

Olympus Medical Systems Corp.

method, duration of surgery, and the amount of intraoperative

cloud storage.

blood loss. However, disease name and surgical proceduresthat can identify specific individuals are not included)
Information regarding the physician who performs the surgery(Years of experience, certified physician or not etc. However,physician name and facility name are not included)

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Provided information that incl. categories related toindividuals

Provision method

Entities providing anonymously
processed information

Video information of and related to recordings endoscopic
surgery

Highly encrypted secure storage

Olympus Medical Systems Corp.

Endoscopic images, names of internal organs, lesions, organ

Password-encrypted digital files, shared

Olympus Medical Systems Corp.

cleansing, past treatments, pathological results

via portable device or highly encrypted

Physician’s observations regarding specific lesions

cloud storage.

Endoscopic images, names of internal organs, lesions, organ
cleansing, past treatments, pathological results
Physician’s observations regarding specific lesions

8. Inquires on handling of personal information

Any inquiries regarding Olympus’ handling of personal information or anonymously processed information can be sent to the e-mail address below:
privacy@olympus.com※ Any personal information provided by the individual in relation to the inquiry will only be used by Olympus to the extent needed to fulfill the request.

9. Other information

Olympus may have additional stipulations within a specific business activity or services.
Olympus may change or amend the policy for “Handling of Personal Information” in accordance with any changes of the Act on the Protection of
Personal Information, including any of the above publications or processes, without prior notice.

10. Change history

Date
1 April 2023

Content changed
Adjustment of representatives due to corporate changes.
Adjustments regarding the provision of personal information to third parties without consent. Also, information on crossborder transfers and security measures for entrusted parties have been added.
Additions to technical and organizational measures.
Addition of current provision of anonymously processed information.
Change to one single e-mail address for inquires.
General overhaul for easier readability.
Merged contents from prior recruiting page with this page.
Change log created and published as of 1st April 2023.

1 April 2022

Addition of addresses of the personal information handling business operators as well as names of their representatives as
stipulated in the latest revision of the APPI.
Addition of technical and organizational security measures as stipulated in the latest revision of the APPI.

155

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161

GRI Content Index

Statement of use

The Olympus Group has reported the information cited in this GRI content index for the period [FY2023: April 1,
2022-March 31, 2023] with reference to the GRI Standards.
The report contains some information outside this period.

GRI 1 used

GRI 1: Foundation 2021

GRI Standard

Disclosure

Location

GRI 2: General Disclosures 2021
1. The organization and its reporting practices
2-1

Organizational details

Consolidated Company Outline
Worldwide Office Locations

2-2

Entities included in the organization’s sustainability reporting

Financial Results Fiscal Year Ended Mar. 31, 2023
Editorial Policy
Worldwide Office Locations

2-3

Reporting period, frequency and contact point

Editorial Policy

2-4

Restatements of information-

2-5

External assurance

Independent Assurance Statement (PDF: 2.0MB)
External Evaluation

2. Activities and workers
2-6

Activities, value chain and other business relationships

Our Business Fields
Consolidated Company Outline
Worldwide Office Locations
Financial Results Fiscal Year Ended Mar. 31, 2023
ESG Data
Procurement

2-7

Employees

ESG Data

2-8Workers who are not employees

ESG Data

Governance structure and composition

Corporate Governance Structure

3. Governance
2-9Corporate Governance Report (PDF: 1.3MB)

2-10

Nomination and selection of the highest governance body

Board of Directors
Basic Policy on Corporate Governance (PDF: 98.9KB)

2-11

Chair of the highest governance body

Corporate Governance Structure
Board of Directors

2-12Role of the highest governance body in overseeing themanagement of impacts

Corporate Governance Report (PDF: 1.3MB)
Basic Concept and Governance System
Environmental Policy and Strategy
Risk Management System
Board of Directors > Evaluation of effectiveness of the Board of
Directors

2-13

Delegation of responsibility for managing impacts

Basic Concept and Governance System
Corporate Governance Structure

162

Directors and Executive Officers

2-14Role of the highest governance body in sustainability
reporting

Basic Concept and Governance System

2-15

Conflicts of interest

Corporate Governance Report (PDF: 1.3MB)
General Meeting of Shareholders
Basic Policy on Corporate Governance (PDF: 1.3MB)
Securities Report

2-16

Communication of critical concerns

Risk Management System
Corporate Governance Structure

2-17Collective knowledge of the highest governance body

Corporate Governance Report (PDF: 1.3MB)

2-18

Evaluation of the performance of the highest governancebody

Corporate Governance Report (PDF: 1.3MB)

2-19

Remuneration policies

Corporate Governance Report (PDF: 1.3MB)
Basic Concept and Governance System
Environmental Policy and Strategy

2-20

Process to determine remuneration

Corporate Governance Report (PDF: 1.3MB)

2-21

Annual total compensation ratio-

4. Strategy, policies and practices
2-22Statement on sustainable development strategy

Message from Management

2-23

Policy commitments

Olympus Group Corporate Philosophy
Olympus Global Code of Conduct
Environmental Policy and Strategy
Human Rights Policy
Human Rights
Risk Management System

2-24

Embedding policy commitments

Corporate Governance Structure
Basic Concept and Governance System
Compliance
Human Rights
Procurement

2-25

Processes to remediate negative impacts

Compliance
Whistleblowing System

2-26

Mechanisms for seeking advice and raising concerns

Compliance
Whistleblowing System

2-27Compliance with laws and regulations

Environmental Policy and Strategy
Compliance
Information Security

2-28

Membership associations

Participating in the Medical Industry Organizations

2-29

Approach to stakeholder engagement

Communication with Stakeholders

2-30Collective bargaining agreements

Labor Relations

Process to determin material topics

ESG Strategy

GRI 3 ：Material Topics 2021
3-1

Editorial Policy

3-2

List of material topics

ESG Strategy

163

3-3

Management of material topics

ESG Strategy
Elevating the standard of careComplianceOlympus Global Quality Policy
Olympus Group Procurement Policy
Diversity, Equity and Inclusion
Environmental Policy and Strategy
Corporate Governance

200 Economic
Economic PerformanceGRI 201:Economic Performance 2016
201-1

Direct economic value generated and distributed

Financial Results (Fiscal Year Ended Mar. 31, 2023)

201-2

Financial implications and other risks and opportunities due
to climate change

Environmental Policy and Strategy

201-3

Defined benefit plan obligations and other retirement plans

Securities Report

201-4

Financial assistance received from government

Securities ReportMarket PresenceGRI 202: Market Presence 2016
202-1

Ratios of standard entry level wage by gender compared to
local minimum wage

-

202-2

Proportion of senior management hired from the local
community-

Indirect Economic Impacts
GRI 203: Indirect Economic Impacts 2016
203-1

Infrastructure investments and services supported

-

203-2

Significant indirect economic impacts-

Procurement Practices
GRI 204: Procurement Practices 2016
204-1

Proportion of spending on local suppliers

-

205-1

Operations assessed for risks related to corruption

-

205-2

Communication and training about anti-corruption policies
and procedures

Anti-Corruption

205-3

Confirmed incidents of corruption and actions taken-

Anti-corruption
GRI 205: Anti-corruption 2016

Anti-competitive Behavior
GRI 206: Anti-competitive Behavior 2016
206-1

Legal actions for anti- competitive behavior, anti- trust,andmonopoly practices

Compliance207-1

Approach to tax

Olympus Group Tax Policy

207-2

Tax governance, control, and risk management

Olympus Group Tax Policy

207-3

Stakeholder engagement and management of concerns
related to tax

Olympus Group Tax Policy

207-4

Country-by-country reporting-Tax
GRI 207: Tax 2019164

300 Environmental
Materials
GRI 301: Materials 2016
301-1

Materials used by weight or volume

Reduce Environmental Impacts
ESG Data

301-2

Recycled input materials used

Reduce Environmental Impacts
ESG Data

301-3

Reclaimed products and their packaging materials-

Energy consumption within the organization

Reduce Environmental Impact

EnergyGRI 302: Energy 2016
302-1

ESG Data

302-2

Energy consumption outside of the organization

-

302-3

Energy intensity

-

302-4

Reduction of energy consumption

Reduce Environmental Impact
ESG Data

302-5

Reductions in energy requirements of products and services-

Interactions with water as a shared resource

Environmental Policy and Strategy

Water
GRI 303: Water 2018
303-1

Reduce Environmental Impact

303-2

Management of water discharge- related impacts

Environmental Policy and Strategy
Reduce Environmental Impact

303-3

Water withdrawal

Environmental Policy and Strategy
Reduce Environmental Impact

303-4

Water discharge

Reduce Environmental Impact
ESG Data

303-5

Water consumption

-

304-1

Operational sites owned, leased, managed in, or adjacent to,protected areas and areas of high biodiversity value outside

-

304-2

Significant impacts of activities, products, and services on
biodiversity

-

304-3

Habitats protected or restored

-

304-4

IUCN Red List species and national conservation list species
with habitats in areas affected by operations-

Direct (Scope1) GHG emissions

Reduce Environmental Impact

Biodiversity
GRI 304: Biodiversity 2016

Emissions
GRI 305: Emissions 2016
305-1

ESG Data

305-2

Energy indirect (Scope2) GHG emissions

Reduce Environmental Impact
ESG Data

305-3

Other indirect (Scope3) GHG emissions

ESG Data165305-4GHG emissions intensity

Reduce Environmental Impact
ESG Data

305-5

Reduction of GHG emissions

Reduce Environmental Impact

305-6

Emissions of ozone-depleting substances (ODS)

-

305-7

Nitrogen oxides (NOx), sulfur oxides (SOx), and othersignificant air emissions

Reduce Environmental Impact
ESG Data

Effluents and Waste
GRI 306: Effluents and Waste 2016306-1

Water discharge by quality and destination

-

306-2

Waste by type and disposal method

Reduce Environmental Impact

306-3

Significant spills

ESG Data

306-4

Transport of hazardous waste

-

306-5

Water bodies affected by water discharges and/or runoff-

Environmental Compliance
GRI 307: Environmental Compliance 2016
307-1

Non-compliance with environmental laws and regulations

Environmental Policy and Strategy

Supplier Environmental Assessment
GRI 308: Supplier Environmental Assessment 2016308-1

New suppliers that were screened using environmental
criteria

Procurement

308-2

Negative environmental impacts in the supply chain andactions taken

Procurement

401-1

New employee hires and employee turnover

ESG Data

401-2

Benefits provided to full-time employees that are notprovided to temporary or part-time employees

-

401-3

Parental leave

Diversity, Equity and Inclusion

Environmental Policy and Strategy

400 Social
Employment
GRI 401: Employment 2016

ESG Data
Labor/Management Relations
GRI 402: Labor/Management Relations 2016
402-1

Minimum notice periods regarding operational changes-

Occupational Health and Safety
GRI 403: Occupational Health and Safety 2018403-1

Occupational health and safety management system

Occupational Safety and Health403-2

Hazard identification, risk assessment, and incident
investigation

Occupational Safety and Health403-3

Occupational health services

Health Management and Better-Health Promotion

403-4

Worker participation, consultation, and communication on
occupational health and safety

-

403-5

Worker training on occupational health and safety

Occupational Safety and Health403-6

Promotion of worker health

Health Management and Better-Health Promotion

166403-7

Prevention and mitigation of occupational health and safety
impacts directly linked by business relationships

Occupational Safety and Health403-8

Workers covered by an occupational health and safety
management system

Occupational Safety and Health403-9

Work-related injuries

Occupational Safety and Health
ESG Data

403-10Work-related ill healthOccupational Safety and Health
ESG Data

Training and Education
GRI 404: Training and Education 2016
404-1

Average hours of training per year per employee

-

404-2

Programs for upgrading employee skills and transition
assistance programs

Employee Development

404-3

Percentage of employees receiving regular performance andcareer development reviews-

Diversity and Equal Opportunity
GRI 405: Diversity and Equal Opportunity 2016405-1

Diversity of governance bodies and employees

Securities Report
Diversity, Equity and Inclusion
ESG Data

405-2

Ratio of basic salary and remuneration of women to men

Securities ReportNon-discrimination
GRI 406: Non-discrimination 2016406-1

Incidents of discrimination and corrective actions taken-

Freedom of Association and Collective Bargaining
GRI 407: Freedom of Association and Collective Bargaining 2016
407-1

Operations and suppliers in which the right to freedom of
association and collective bargaining may be at risk

Procurement

Operations and suppliers at significant risk for incidents ofchild labor

Procurement

Human Rights

Child LaborGRI 408: Child Labor 2016408-1

Human Rights

Forced or Compulsory LaborGRI 409: Forced or Compulsory Labor 2016409-1

Operations and suppliers at significant risk for incidents offorced or compulsory labor

Procurement
Human Rights

Security Practices
GRI 410: Security Practices 2016
410-1

Security personnel trained in human rights policies orprocedures-

Rights of Indigenous Peoples
GRI 411: Rights of Indigenous Peoples 2016
411-1

Incidents of violations involving rights of indigenous peoples-

Human Rights Assessment
GRI 412: Human Rights Assessment 2016
412-1

Operations that have been subject to human rights reviews

Human Rights

167

or impact assessments
412-2

Employee training on human rights policies or procedures

Human Rights

412-3

Significant investment agreements and contracts that include
human rights clauses or that underwent human rights
screening-

Local Communities
GRI 413: Local Communities 2016413-1

Operations with local community engagement, impact
assessments, and development programs

-

413-2

Operations with significant actual and potential negative
impacts on local communities-

Supplier Social Assessment
GRI 414: Supplier Social Assessment 2016414-1

New suppliers that were screened using social criteria

Global Standards:What Olympus Expects of Third Parties (PDF:
4.8MB)

414-2

Negative social impacts in the supply chain and actions
taken

Procurement

Political contributions-

Public Policy
GRI 415: Public Policy 2016
415-1
Customer Health and Safety
GRI 416: Customer Health and Safety 2016
416-1

Assessment of the health and safety impacts of product andservice categories

Product Responsibility

416-2

Incidents of non-compliance concerning the health andsafety impacts of products and services-

Marketing and Labeling
GRI 417: Marketing and Labeling 2016
417-1

Requirements for product and service information andlabeling-

417-2

Incidents of non-compliance concerning product and service
information and labeling

-

417-3

Incidents of non-compliance concerning marketing
communications-

Customer Privacy
GRI 418: Customer Privacy 2016
418-1

Substantiated complaints concerning breaches of customer
privacy and losses of customer data

Information Security

Socioeconomic Compliance
GRI 419: Socioeconomic Compliance 2016
419-1

Non-compliance with laws and regulations in the social andeconomic area

Compliance168