Sustainability
Report 2022

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

Policies - Environment

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

Environmental Health and Safety Policy ...................... 98

Message from ESG Officer ........................................... 5

Control of Chemical Substances Used in Products ..... 99

Olympus Group ESG .................................................... 6

Plans for Global Warming Countermeasures

Participating in External Initiatives ................................. 8(Only in Japanese) .................................................... 100

External Evaluation ....................................................... 9

Status of Acquiring ISO14001 Certificationin Olympus Group .................................................... 101

Environment

Green Procurement .................................................. 103

Environmental Policy and Strategy .............................. 11
Reduce Environmental Impact .................................... 19

Policies - Society

Environmental Communication ................................... 28

Human Rights Policy ................................................ 104

Environmental Data .................................................... 29

Olympus Group Quality Policy .................................. 106
Supply Chain Policy of Olympus Group .................... 107

Society

Request to Suppliers ................................................ 108

Human Rights ............................................................ 33

General Employer Action Plan based on

Product Responsibility ................................................ 35

the Act on Promotion of Women's Participation

For the Benefit of Patients .......................................... 37

and Advancement in the Workplace ......................... 110

Elevating the standard of care .................................... 39

General Employer Action Plan based on

Responding to Customers .......................................... 41

the Act on Advancement of Measures

Procurement............................................................... 44

to Support Raising Next-Generation Children ........... 112

Employment ............................................................... 46

Corporate Citizenship Policy ..................................... 114

Labor Relations .......................................................... 48

Charitable Donations and Grants Policy .................... 116

Training and Education ............................................... 49
Diversity and Equal Opportunity .................................. 51

List of policies - GovernanceOccupational Safety and Health.................................. 56

Basic Policy on Corporate Governance .................... 117

Occupational Safety and Health,Because What We Do Matters:

Health Management ................................................... 63

Olympus Global Code of Conduct ............................ 123

Supporting physician development

Whistleblowing System ............................................. 124

in emerging countries ................................................. 71

Global Standards:

Participating in the Medical Industry Organizations ..... 72

What Olympus Expects of Third Parties .................... 125

Charitable Donation Initiatives ..................................... 73

Olympus Group Tax Policy ........................................ 126

Social Impact Assessment (Cancer Awareness) .......... 74

Olympus Group guidelines coveringSocial Data ................................................................ 75

the prevention of bribery ........................................... 128
Disclosure Policy ...................................................... 131

Governance

The Ethics Committee .............................................. 132

Framework of Corporate Philosophy........................... 79

Payments to Healthcare Professionals

Corporate Governance ............................................... 80

and Healthcare Organizations ................................... 133

Communication with Stakeholders.............................. 81

Olympus Group Information Security Policy .............. 134

Compliance ................................................................ 83

Internal Control System ............................................ 135

Tax ............................................................................. 87

Olympus Group Risk Management

Anti-Corruption ........................................................... 89

and Crisis Response Policy ...................................... 136

Disclosure................................................................... 91

Handling of Personal Information .............................. 137

Information Security .................................................... 92
Risk Management System .......................................... 95

Independent Assurance Statement related

Governance Data ....................................................... 97

to Environmental and Social Data ............................. 138
GRI Content Index .................................................... 140

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 and scientific discoveries. 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 2022
The Sustainability Report 2022 is a PDF version of the information on our Sustainability page as of October 2022.
The Olympus Group's Sustainability information is reported on the Sustainability page.
In addition to annual updates in July, 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

Period Covered by the Report
Latest annual update: [FY2022: April 1, 2021-March 31, 2022]
The report contains some information outside this period.

Reporting cycle, date of most recent report
Latest annual update: July 25, 2022 (in Japanese and English)
Previous annual update: July 27, 2021 (in Japanese and English)

Reference Guidelines
GRI, Sustainability Reporting Standard
The report does not, however, address all of the requirements of the "comprehensive" and "core" level options of the guidelines.
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

Environmental Data
3

Scope of external assurance
The amounts of CO2 emissions in Scope 1, Scope 2 (location based and market-based methods), and Scope 3: Categories 2 to 8, 12; and energy
consumption, water usage, and waste discharged.
External Assurance Organization
LRQA Limited

Occupational Safety and Health Data
Scope of external assurance
Lost Time Injuries Frequency Rate (LTIFR), Occupational Illness Frequency Rate (OIFR), Number of Industrial Accidents, Number of Fatal Industrial
Accidents (Fiscal 2021)
External Assurance Organization
LRQA Limited

Contact
Sustainability Contact Form

4

Message from ESG Officer

Olympus is committed to fulfilling its expectations of corporate responsibility at a level befitting aleading global business. We are proud to have provided significant value to society for more than 100
years, making people’s lives healthier, safer and more fulfilling around the world through our innovative
range of products and services. In particular, we have provided the global healthcare community withsolutions that have improved clinical outcomes for patients, boosted the quality of life and patient
experiences, and created economic value throughout the medical and scientific communities.
In recent years, we have established what we should be as a global medtech company, advanced
company-wide transformation, and are working to strengthen employee engagement. Even in the faceof social changes such as those caused by the Covid-19 pandemic, we have continued our journey to become a healthy organization, a corporate culture
where we are all committed to delivering Our Purpose.
By taking a proactive approach to ESG — Environmental, Social, and Governance — and actively strengthening our efforts to address our materiality, we
believe the company can contribute to society by improving patient outcomes through elevating the standard of care and play an essential role in creating asustainable society.

Director, Executive Officer, Chief Administrative Officer, Chief Strategy Officer and ESG Officer
Stefan Kaufmann

5Olympus Group ESG

Basic Approach and Policy
All the activities undertaken by the Olympus Group are to respond to requests and expectations from society and to fulfill our duties and responsibilities
under 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.
We extracted six important ESG areas and defined five materiality items. These five materiality items reflect our corporate strategy, benchmarks bystakeholders and an external ESG evaluation organization’s opinions, and have been established by the Group Executive Committee and the Board of
Directors. The five materiality items show that we contribute to solving social issues through our business, and are in a mutually complimentary and solid
relationship. We consider ESG to be a crucial component as we grow to become a globally leading medtech company and contribute to the creation of asustainable society. The distinct materiality items can vary depending on social and business changes and we continue to revise them as required.

Procedure to Establish ESG Enhancement Measures

Six Important ESG Areas:

Five Materiality Items
Healthcare access and outcomes
Compliance, product quality and safety
Responsible supply chain
Diversity and inclusion
Carbon neutral society and circular economy

Promotion Structure
To reinforce the implementation of the ESG measures, in April 2021, we designated an ESG Head to be responsible for our ESG initiatives and established
the KPIs to be specified in our medium- to long-term business plan. The ESG Head comprehensively manages ESG initiatives while monitoring theimplementation progress of ESG measures. The ESG Head also reports the status of that progress to the Group Executive Committee and the Board of
Directors for deliberation. From FY2021, 10% of the executive officers' performance share unit (PSU), a part of our long-term incentive compensation, waslinked to the results of an evaluation by an external ESG evaluation organization. In FY2022, the percentage is being increased from 10% to 20% toreinforce the commitment of management. We adopt the Dow Jones Sustainability Indices (DJSI) as its benchmarks, which are reputed to be more reliable

6and have a wider coverage than other external ESG criteria. As of December 2021, Olympus is admitted to the DJSI World for the first time this year and in
the DJSI Asia Pacific for the third consecutive year.

Value Creation Model
Value Creation Model (PDF: 142.5KB)

7

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.

8

External Evaluation

External Evaluation Regarding ESG *As of September 2022

Selected for Inclusion in ESG Indexes
Dow Jones Sustainability World Index
Dow Jones Sustainability Asia Pacific Index
FTSE4Good Index Series
FTSE Blossom Japan Index

External Evaluation Regarding ESG
Obtained a B rating in the climate change survey and the water security survey by CDP Worldwide, an international NGO that aims at the realization of asustainable economy (2021 for Olympus).
Selected by CDP as a CDP 2021 Supplier Engagement Leader (2021 for Olympus), the highest rating in the Supplier Engagement Rating (SER), which
evaluates how effectively companies are working with their suppliers to address climate change challenges.
Listed in White 500, the Certified Health & Productivity Management Organization Recognition Program (six consecutive years since 2017 for Olympus
and 2021 for Olympus Marketing).
Listed in the Certified Health and Productivity Management Organization Recognition Program (two consecutive years since 2021 for Aizu Olympus and2020/2022 for Olympus Marketing).
Certified as a Sports Yell Company (2022 for Olympus, Olympus Marketing and Olympus Terumo Biomaterials).
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).
Received the Silver rating under the PRIDE Index 2021, a Japanese index to evaluate a corporation's performance in LGBTQ inclusion (2021 for
Olympus).

9

10

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 CAO are appointed as the top executive officers for the environment. Also, the Human Resources Head, whomanages 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 leadership of the Human Resources Head, the EHS division is responsible fordeveloping Environmental Health and Safety Policy for the entire Group, as well as planning and promoting environmental measures. The division also
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 12
group companies in Japan and Asia, including the EHS division, to reinforce the group's environmental governance and streamline the environmental
management.
To address environmental issues promptly and appropriately, we aim to globally expand the scope of this ISO 14001 multi-site certification.
* 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 2022)

11

(Name of sites and offices are as they were at time of the certification.)
Date ofSites/Officecertificationacquisition

Japan

Multisite

Site Single

Certification

Certification

Headquarters (Shinjuku)*1

August 2020◯

Sasazuka Facility*2

August 2020◯

November 2003*3◯

Ishikawa Facility

March 2000◯

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◯

Hachioji Facility

February 2018*4◯

Nagano Facility

February 1998*4◯

February 2018*4◯

Mishima Plant

August 2020◯

R&D Center

August 2020◯

Olympus Corporation

Sagamihara Distribution
CenterOlympus Medical Systems
Corporation

Evident Corporation

Evident Nagano Corporation
Olympus Terumo Biomaterials Corp.

Americas

December 2005◯

Evident Scientific Inc.

July 2010※5◯

Evident Canada Inc.

July 2010※6◯

September 2019◯

September 2019◯

May 2001◯

March 2002◯

Olympus Surgical Technologies America National Service Center West

Olympus Corporation of the Americas
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

12Date ofSites/Officecertificationacquisition

Asia PacificMultisite

Site Single

Certification

Certification

Algram Group Ltd.

January 2007◯

Olympus Iberia S.A.U.

September 2018◯

Olympus (GuangZhou) Industrial 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◯

*1 The scope of certification covers the environmental management division and medical sales management division of Headquarters (Shinjuku).
*2 The scope of certification covers the general affairs division of the Tokyo Facility (Sasazuka).
*3 It had been certified as Olympus Logitex Co., Ltd. before March 2022
*4 It had been certified as Olympus Corporation and Nagano Olympus Co., Ltd. before March 2022
*5 It had been certified as Olympus Scientific Solutions Americas Corp. and Olympus Scientific Solutions Technologies Inc. before August 2022
*6 It had been certified as Olympus NDT Canada Inc. before Augusut 2022

Status of Acquiring ISO14001 Certification in Olympus Group

Mechanisms and Initiatives

Recognition of Environmental Issues
When establishing its Corporate Strategy and Business Plan, the Olympus Group identifies potential risks that could impact on our business operations. The
high risks are then extracted, and their risk levels are assessed. Such high risks include business transition risks to keep up with changes in environmental
regulations and technologies to adapt climate change, as well as physical risks associated with natural disasters.
Risk evaluation and prioritization are carried out in each organization assuming the impact on the business should the risk become reality, and the likelihoodof such. According to the results of such evaluation and prioritization, business plans for the following year or multiple years are established to manage suchrisks. As for risks related to environmental regulations, the Quality Management function monitors the regulation trends concerning our products, and theEHS division of each company monitors the regulation trends concerning the business site. The state of compliance is regularly assessed while changes are
implemented as required.
The management status of those risks posing a high impact on business operations are regularly monitored in each organization and monitoring results arereported to the Group Executive Committee and the Board of Directors. In response to the monitoring results, the CEO may revise the plan details if
management efficacy is insufficient.

Compliance with Environmental Laws and Regulations (FY2022)
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 FY2022, there were no violations or incidents related to environmental laws and regulations. There were no litigation, fines, or penalties.

Long-term targets and measures
The Olympus Group is fully aware that the recent climate change and ecosystem deterioration, brought about by excessive environmental impact andpollution, is the issue we need to address promptly. In May 2021, we added "carbon neutral society and circular economy" to the materiality items. The targetof achieving carbon neutrality was set as reaching net zero CO2 emissions from our site operations by 2030 (Scope 1 & Scope 2*1). To achieve this target,
we continue to improve production efficiency and implement further energy-saving measures, as well as gradually replacing the energy used in all of our site

13

operations*2 with renewable energy sources by 2030. We also recognize the importance of environmental impact reduction across the supply chain andcontinue the transportation modal shift, logistical efficiency improvement, reduction in energy consumption and weight of products, and green procurement.
*1 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.
*2 Excluding rental properties, such as sales sites.

Major Environmental Activity Results in Fiscal 2022

Primary Policy

TargetMeasures

Achievements andResults

FY2023 Target

Promotion of

Enhancement

Improve effectiveness

Development ofAnnounced the

Examining long-term

environmentalofand efficiency of thelong-term

target of long-termtargets for reducing

management

environmental

Environmental

environmental

net zero CO2

CO2 emissions

governanceManagement Systemtargets

emissions from ourthroughout the supply

site operations bychain

system2030
Maintenance ofMaintenance of

Ensure appropriate

ISO 14001

ISO 14001

response to indicatedcertification

certification forpoints in internal

global major

environmental audit

manufacturing

and ISO14001

sites (Europe,

certification external

Americas,

audit

Australia)
Maintained ISO
14001 multi-site
certification of 10
sites in Japan and3 sites in Asia
Conducted internal
audits foradministrative
functions of 8 sites
in Japan and 2
sites in Asia.
Environmental

Continue to improve

Enhance

Inspection on the

Expand target sites

risk reduction

the process to comply

inspection forwaste

for theactivities

with environmental

compliance statusmanagement

Environmental/healthlaws and regulations

with environmental

process andand safety risklaws and

operational

assessment

regulations

improvements at

Education foreach site in Japanenvironmental laws

Education on

and regulations

waste andchemical
substanceContinue to improvethe environmental
regulatory compliance
process for products
and facilities

management at
Olympus SurgicalTechnologies
America (138persons)
Continue toimprove the related
internal rules for
products andfacilities

14

Primary Policy

TargetMeasures

Achievements andResults

FY2023 Target

Environmental

Product-related

Create Olympus Eco-

Create products

Created new Eco-

Continue to create

initiative

initiatives

Products

that areProducts (1 new,products that arethroughout theenvironmentallybringing total toenvironmentally

product life

conscious and665)

conscious andcyclestailored to businesstailored to businesscharacteristics

characteristics

Facilities-

CO2 emission: reduceContinue toCO2 emission: reduce

CO2 emission: net

related initiativeby 21% compared to

implementby 25.9%

zero (in FY2031)

FY2018

improvements

Renewable energy

Renewable energy

Renewable energy

such as improving

rate: 18.9%

rate: 100% (inrate: improvement

manufacturing

Emission intensity:

FY2031)compared to FY2021

processes, saving

improve by 32.2%

Emission intensity:

Emission intensity:of energy andWater use intensity:

improve by 1%

improve by 7%

material resources

improve by 32%

compared to FY2022

compared to FY2018

and introduction of

Water use intensity:

Water use intensity:

renewable energy,

improve by 1%

improve by 7%

etc., in accordancecompared to FY2022

compared to FY2018

with local
characteristics

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-one of the materiality items 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 CAO, who are the highest environmental responsible officers, the Human Resources Head, who manages
human resource development and general affairs, oversees matters related to the environment, health and safety (EHS) for the entire Group.
The EHS functional division creates an environmental action plan, including the reduction target of CO2 emissions, as well as monitoring the progress ofaction plan implementation across the entire Group. In response to the progress report, the highest environmental responsible officers (CEO and CAO) give
instructions for any improvement required. The Board of Directors continues to monitor the status of the implemented climate change measures while
receiving the related reports at least once a year. Also, to reinforce the commitment of management to the ESGs and climate change initiatives, 20% of theexecutive 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 (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 shortterm period (one to five years) would be the suspension of factory operations or breakdown of the supply chain due to natural disasters; and the risks 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
CO2 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, we have15

experienced closures of sales sites due to typhoons and flooding across the world. Still, the influence was limited. We also expect an increase in operationalcosts due to carbon taxes etc. as a transition risk. However, the percentage of energy costs in the factories among overall business costs is small, and,
therefore, the impact on our business will be limited.
As a climate change opportunity, we will continue development of environmentally conscious products with energy-saving and other functions, taking therising requirement for such products-which contribute to CO2 emissions reduction-as a business opportunity. However, we estimate the impact from thisopportunity on our business will not be so large because the majority of our products are already small with low energy consumption, and the nature of our
products and services are relatively independent from any impact from climate change.

Environmental
Changes
2℃ scenario

Stronger regulatory

Risks

Opportunities

Measures

Reduction of business

Improvements in energy

costs by energy-saving

efficiency

Increase in procurement

measuresand operating cost* due

Wider use of renewable

Improvements in market

energyto carbon tax, carbon

competitiveness byemissions trading andDiversification ofdevelopment ofstronger regulatory action

suppliers

environmentally

on CO2 emission by

conscious products<Transition risks>action for a low carbon
societyvarious countries
4℃ scenario

Rise in temperature and<Physical risks>

conscious design in the

Improvements in

product/service design &evaluation by

development stage

stakeholders

increased extreme
weather events

EnvironmentallyDevelopment andSupply chain disruption

provision of

caused by growing scale

products/services thatof natural disasters, suchcontribute to resolving

as typhoons, floods, etc.

environmental issues in

Suspension of deliveriessocietyfrom suppliers and to
customers due tosuspension of distribution
bases, repair centers andsales branches, etc.)* 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
The Olympus Group identifies, assesses, and manages climate change and other environmental risks within the group-wide risk management system thatcovers all the risks that could affect our business. For more details, see Recognition of Environmental Issues.
Recognition of Environmental Issues

Indexes and Targets
The Olympus Group has set two targets. One is carbon neutrality by 2030 for its site operations (Scope 1 & Scope 2), and the other is switching electricity
procurement for its site operations to renewable energy sources also by 2030.
The results in FY2022 were a 25.9% reduction in CO2 emissions compared to FY2018 and the percentage of renewable energy usage reached 18.9%. We
continue our production efficiency improvements, energy-saving activities and introduction of renewable energy in business sites across the world.We also
pursue the development of environmentally conscious products, green procurement, and improvement of logistical efficiency in order to reduce CO2
emissions across the life cycles of our products.
Long-term Targets and Measures
Results

Response to Water Risk

16

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, appointing 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

6

15

2

1

0

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

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 and forest conservation activities in areas surrounding its facilities.

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 CO2 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 conducted17

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(Olympus and its Japan subsidiaries/FY2022)
Classification

TargetBasic education

New employees

Main Content
Environmental education for new employees (to understand environmental issues,
corporate responsibility, and Olympus' environmental initiatives): 35 participants

All employees

Environmental e-learning (to understand social demand for environmental conservation
and Olympus' environmental initiatives): 11,667 participants

Professional education

Environmental
Managers /Environmental

To understand responsibilities and roles of the Environmental Managers and theEnvironmental Secretariat (compliance with environmental laws and regulations, key
points for establishing effective EMS, etc.): 3 participants

Secretariat
Target employees

Continuous improvement of knowledge and skills for personnel charge of environmental
work (education on pollution prevention, waste management, and chemical substancemanagement)

18

Reduce Environmental Impact

Energy/Atmospheric Release

Water/Emission

Product Life Cycle Assessments

Examples of Environmentally Conscious Products

Products that Contribute to Solving Environmental Issues

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 CO2 emissions and responding to sudden flooding damage. At the same time, we actively develop and market
environmentally conscious products that contribute to resolving issues with climate change and water risk and products designed to resolve environmental
issues

Initiatives
Material Balance（FY2022）
Resource and Energy Input
Energy (Total)
Electric

Business Activities

328,906 MWh (7%)★

127,967MWh (7%)★ Gasoline

5,120kL (33%)★

power
City gas

5,836 thousand m3 Hot water

2,288GJ (8%)★

Development
andManufacturing(27%)★
LPG

2,280MWh(17%)★

834t (4%)★ Green electricity

Heavy fuel201kL (-2%)★ Solar poweroil

29,180MWh(53%)★

（Research）

526MWh (2%)★

Development[internal]

Kerosene

Greenhouse Gases (Total)

90,119t-CO2e (-3%)★

CO2 generated from energy

90,118t-CO2e (-3%)★

CO2 not generated from energy

1t-CO2e (-83%)★

Substances Emitted

1,475t (-5%)★ District heat

LNG

Discharge of Environmentally Harmful Substances

83kL (40%)★ Solar heatNOx

53t (-5%)SOx

0 (0%)

Chemical Substances (PRTR substances emitted andtransferred)

15t
(-5%)

* Production sites in Japan only

455GJ (-6%)★

[internal]
Diesel fuel867kL (-3%)★

Discharge to Water Systems (Total)

Production
Chemical Substances [PRTR Substances Handled]

41t (1%)* Production sites in Japan only

961 thousand m3 (-9%)

Water discharged (public waters)

524 thousand m3 (-4%)

Water discharged (sewage)

437 thousand m3 (-14%)

BOD（t）

961 thousand m3 (-9%)★

Water (Total)
Piped water

315 thousand m3 (-18%)★

Ground water

646 thousand m3 (-4%)★

Discharge (Total)

Raw Materials and Sub-Materials * Production sites in Japan only
Metal:

Steel, alminium, brass

Plastics:

Optical plastics, ABS, PC, polyethylene, polypropylene

5,362t (-8%)★

Amount recycled

4,575t (-5%)★

Other waste

787t (-21%)★

Landfill

99t (57%)★

Hazardous waste

265t (-8%)★

CO2 Emissions during Transportation(Total)Office Supplies
Copy paper

41,177t-CO2e(18%)

163t (-2%)

Transporation Fuel

Sales andTransportation:

Logistics

Gasoline, diesel fuel, etc.

Packaging Materials (Total)
Cardboard

2t (19%)1,016t (-2%)

Logistics

616t (0.5%)

Paper

185t (-15%)

Plastic

184t (2%)

Metal

0t (0%)Glass

0t (0%)

Others31t (7%)

Sales

Product Shipments
Main products (Total)

2,173t (-4%)

Medical Business (Endoscopes)

1,233t (-1%)

Scientific Solutions Business (Microscopes)

940t (19%)

Repair and Service★ Indexes certified by the Assurance Statement. Percentage change from previous year in brackets

19Energy/Atmospheric Release

Internal (Scope 1, 2) Results
FY2022 Targets

FY2022 Results

Main Measures

FY2023 Targets

CO2 emissions: reduced by 21%

CO2 emissions: reduced by 25.

Ongoing implementation of m

CO2 emissions: net zero (FY203

compared to FY2018

9% compared to FY2018

anufacturing improvement acti

1)

Renewable energy rate: more th

Renewable energy rate: 18.9%

vitiesRenewable energy rate: 100% (FIntroduction of energy saving

Y2031)

an previous year

equipment
Ongoing implementation of energy-saving activities on a daily basis, including switching off
lights and adjusting air-conditi
oning temperatures
Introduction of environmentall
y conscious cars
Effective use of renewable energy
In May 2021, the Olympus Group set a carbon neutrality goal of net zero CO2 emissions from group facilities by 2030. While continuing to promote
manufacturing improvement activities and energy-saving measures, we are working to reduce CO2 emissions by promoting the introduction of renewableenergy at our operation sites. In addition, at sites where energy use is high, we are promoting initiatives by appointing our own experts and establishing asystem to promote energy conservation.
In FY2022, continual improvements in manufacturing, energy-saving measures, updates company cars to environmentally conscious cars and the use ofrenewable energy were considered at its sites around the world. At our Hachioji Facility, boiler efficiency was improved by installing thermal jackets on the
boiler piping to reduce thermal energy loss and improve boiler efficiency, and Aomori Olympus has worked to reduce energy waste by replacing compressors
with high-efficiency equipment and installing air flow meters to identify air leaks and implement countermeasures. KeyMed (Medical & Industrial Equipment)
Ltd. in Europe switched some of its company vehicles used for sales activities to electric vehicles. At Olympus Surgical Technologies America (Gyrus ACMI,
Inc.), starting in 2021, 30% of the electricity used at the Redmond site, 100% at the Bartlett site, and 20% at the newly opened Westborough site switched torenewable energy sources. In April 2022, we converted 100% of the electricity used at our major development and manufacturing sites in Japan (10 sites) toelectricity derived from renewable energy sources.
For wider use of renewable energy, studies are focusing on dissemination, economic feasibility and other factors in each country.
The renewable energy use rate vis-á-vis the total electric power consumption has risen to 18.9% (compared to 12.2% in the previous year).
Olympus will continue to build environmentally friendly buildings when constructing or reconstructing business sites, and Olympus Europa SE & Co. KG and
Olympus Winter & Ibe GmbH have acquired German Sustainable Building Council Gold Certification (DGNB certification*1) for their newly constructedbuildings.
Olympus Corporation participates in the Carbon Neutral LNG Buyers Alliance as a part of new initiatives to reduce CO2 emissions, and has started to
introduce carbon neutral LNG*2 to the Hachioji Facility.
*1 DGNB certification: Environmental certification for architectural structures issued by the German Sustainable Building Council to reduce the environmental impact of structures.
Certification is given after assessment of the environmental performance of the building and confirmation that the structure satisfies certain criteria.
*2 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)Gold in DGNB certification

20

New office building: Olympus Europa SE & Co. KG

Olympus Winter & Ibe GmbH

Boiler piping jacket installation

Green Energy Certificates

Olympus Surgical Technologies America (Gyrus
ACMI, Inc.) (U.S.A.)

Olympus Europa SE & Co. KG

KeyMed (Medical & Industrial Equipment) Ltd. (U.K.)(Germany)

Olympus Surgical Technologies America: Redmond(Gyrus ACMI, Inc.) (U.S.A.)

Logo for the Carbon Neutral LNG

21

CO2 emissions/intensity (Scope 1, 2)External (Scope 3 [Category 4 Upstream transportation and distribution]) Results
FY2022 Results
CO2 emissions: reduced by: 18.9% (compared to FY2018)

Main Measures
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 routes

The Olympus Group is engaged in reducing logistics-related CO2 emissions at each of its sites. We continue with improvements, including optimizing theloading efficiency of transportation containers by products type and shape, consolidating logistics sites for transportation efficiency and direct shipping byreviewing logistics routes. In FY2021, Olympus Logitecs in Japan switched some of the air and charter flights used for domestic transport to JITBOX charter
flights*1 to reduce CO2 emissions.
*1 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.

Water/Emission

Water Use/Wastewater Results

22

FY2022 Targets

FY2022 Results

Main Measures

FY2023 Targets

Water use intensity: improve by

Water use intensity: improved by

Improvements in water use

Water use intensity: improve by

7% compared to FY2018

32.0% compared to FY2018

processes

1% compared to FY2022

Implementation of measures* Our initial target of a 23%

against water leakage during

improvement has already beenequipment inspections

achieved, so activities for a 1%

Implementation of secondary
use of water

improvement over the previous year
will be conducted.

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 FY2022, we reassessed 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
process from 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 fisherycooperative, 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 aForest 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*1 in recognition of long-time efforts to maintain compliance with the industrial
wastewater discharge permit requirements set by King County, Washington.
*1 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

Water UseESG Data

Wastewater Results
ESG Data

Emission Results

23

FY2022 Targets

FY2022 Results

Main Measures

FY2023 Targets

Emission intensity : improve byEmission intensity : improved by

Reduction of process defects

Emission intensity: improve

7% compared to FY2018

32.2% compared to FY2018

Promotion of recycling by

by 1% compared to FY2022

thorough separation
Promotion of reusing package
materials
Extracting valuable materials* Our initial target of a 23%
improvement has already beenachieved, so activities for a 1%
improvement over the previous
year will be conducted.

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 FY2022, 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, Olympus Logitex is reducing the use of corrugated cardboard by making products without packaging,
reducing waste by using returnable containers and expanding the reuse of cushioning materials, and the Olympus Medical Systems’ Hinode Plant is
promoting the effective use of resources by converting production equipment into valuable resources when they are to be disposed of. In Asia, Olympus
Vietnam Co., Ltd. generated a large amount of unneeded equipment due to the building division work associated with the sale of its imaging business in
December 2021, but recycling was promoted to reduce the environmental impact. Olympus Surgical Technologies America Inc. provides an intra-company
awareness raising program to help employees increase the recycling rate, and at the Bartlett sites, PPE waste (personal protective equipment used at
medical facilities, etc.), which had been sent to landfills, is now being recycled by purchasing special boxes from a vendor and outsourcing the processing tothem. In addition, the Bartlett site signed up to the "Tennessee Recycling Coalition*1" to explore new ways of recycling, develop and expand the reuse andrecycling market, and continue to study ways to further reduce waste.
Our hazardous waste emissions have been reduced 7.5% compared to FY2021 by reinforcing waste management and replacing certain chemical
substances with safer ones.
*1 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/Landfill

24Chemical Substance Safety and Control
FY2022 Results

Main Measures

Emissions and Movements of PRTR Class 1-DesignatedSubstitution of PRTR-designated chemicals with other substances

Chemical Substances: Reduced by 17.5%

through material developments(compared to FY2018)

Reduced 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. In FY2022, we continuously reduced the use of organic solvents
through improvements to the cleaning process of components, etc., at each manufacturing site.

Emissions and Movements of PRTR Class 1-Designated Chemical Substances

Emissions and Movements

FY2018FY2019FY2020

FY2021

FY2022

17.7

18.8

19.3

15.4

14.6

FY2018FY2019FY2020

FY2021

FY2022

62.3

81.9

83.9

57.8

56.7

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

Volatile Organic Compound (VOC) Emissions

Volatile Organic Compound(VOC) Emissions (t)※ 対象範囲：日本の全製造・開発拠点

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.

Examples of Environmentally Conscious Products
25

The Olympus Group works to show consideration for the environment through the products in each of its business fields.

Medical BusinessVideo Gastroscopes GIF-XZ1200< Main Product Features >1. Maximum 125 times magnification and superior image quality using a high-sensitivity CMOS
image sensor.
2. High-speed sequential color imaging delivers an image with higher resolution and minimum
chromatic aberration.
3. New ErgoGrip improves usability for operators.
< Environmentally Conscious Aspects >Video Gastroscope GIF-XZ1200

Reduction in product weight.

Scientific Solutions Business
LEXT™ OLS5100 3D Laser Scanning Microscope< Main Product Features >1. Autopopulates data to your experiment plan metrix, reducing the chance of input errors
2. Clear data trend visualization tools
3. Renowned Olympus optics reduce aberration to capture the correct shape of your sample
throughout the entire field of view.
< Environmentally Conscious Aspects >Use of lead-free optics and high recyclability

Products that Contribute to Solving Environmental Issues
Utilized even at the forefront of automobile and aircraft development with the aim of improving the efficient use of energy and the recycling facilities, Olympus
products contribute to solving environmental issues.

X-ray Fluorescence (XRF) Analyzers< Main Product Features >1. Nondestructive measurement of substances (elements) in the target object by type and content.
2. Durability and toughness for use under rigorous conditions.
3. Use for quality inspections at production sites, selecting recycled raw materials, inspecting
hazardous metals, etc.
Assisting in hazardous substance analysis and resource
recycling.

Industrial Videoscope< Main Product Features >1. Used in the inspection and diagnosis of the internal parts of machinery.
2. Reproduces even the slightest defect in a sharp, clear image.

26

3. Used for inspections of wind power generation facilities and of automobiles competing on low fuelconsumption as well as of aircraft engines.

Contributing to the realization of a society that emits
only small amounts of CO2

27

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.
Corporate Citizenship Activities Newsroom Environment

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 2022, Olympus held “Olympus Environmental Day” to improve the efficiency of activities and to be
more conscious of cooperation with society. With the aim of raising environmental awareness among employees, we
conducted global environmental e-learning programs, held events to reduce waste and food loss and promote
recycling in each region and site, and conducted 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 2022, a total of 150,000 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.
Activities in FY2020
Activities in FY2019

Related link
Olympus Corporate Citizenship Activities

28

Environmental Data

Updated July 25, 2022

*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 from LRQA Limited LRQA
Independent Assurance Statement Related to Environmental Data

Material balance
INPUT
compared toprevious
period( )Resource/Energy input

FY2022

Energy [Total] (MWh)328,906

7

127,967-10City gas (1,000 m3)

5,836

27

LPG(t)1,475-5

LNG(t)

834

4

Heavy fuel oil (kL)

201

-2

Kerosene (kL)83

40

Diesel fuel (kL)

867

-3

Gasoline (kL)

5,120

33

Hot water (GJ)

2,288

8

District heat (MWh)

2,280

17

Green electricity (MWh)29,18053Electric power (MWh)Solar power [internal] (MWh)526

2Solar heat [internal] (GJ)

455

-6

Chemical substances [PRTR substances handled] (t)

41

1

961

-9

Piped water

315

-18

Ground water

646

-4

163

-2

Water [Total] (1,000 m3)

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)

1,016

-2

Cardboard

616

0.5

Paper

185

-15

Plastic

184

2

Metal

0

0

Glass

0

0

Others31

7

Indexes certified by the Assurance Statement.

OUTPUTFY2022
Greenhouse gases [Total] (t-CO2e)90,119CO2 generated from energy

compared toprevious
period( )-390,118

-3

1

-83

NOx

53

-5

Sox

0.3

0

14.6

-5

961

-9

CO2 not generated from energy
Substances Emitted (t)Chemical substances [PRTR substances emissions/m

Discharge to water system [Total] (1,000 m3)
Water discharged (public waters)

524

-4

Water discharged (sewage)

437

-14

1.9

19

BOD

t

Discharge [Total] (t)

-8

5,362

Amount recycled
Other waste
Landfill
Hazardous waste
Total CO2 for transportation (t-CO2e)

4,575

-5

787

-21

99

57

265

-8

41,17718

Product shipments (t)Medical Business [Total]

2173

-4

Medical Business [Endoscopes]

1,233

-1

940

19

Scientific Solutions Business [Microscopes]
Indexes certified by external assurance.

Internal Energy Consumption
FY2018Consumption (MWh)FY2019349,108

FY2020328,439

FY2021

331,380

FY2022305,960

328,906

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
FY2018Renewable Energy (MWh)FY201915,428FY202017,285

FY202121,053

FY2022

19,81529,833

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
FY2018

Direct (MWh)FY2019FY2020

FY2021

FY2022City gas

52,62051,84452,41557,59473,180LPG

19,70819,467

20,14022,00820,820

LNG

12,627

11,707

12,305

12,19012,648Heavy fuel oil

2,072

2,183

2,252

2,234

2,181

Kerosene

548

612

614

601

844

Diesel fuel13,08912,392

12,234

9,396

9,076

Gasoline

42,84445,89943,814

37,13949,213

Subtotal (MWh)143,508

144,104

143,774

141,162

167,96229

Indirect (MWh)Electricity

187,345

164,458

163,852

Hot water

682

597

701

797

864

District heat

2,145

1,995

2,000

1,954

2,280

Green electricity

14,763

16,576

20,338

19,11429,180

Solar power [internal]

497

536

533

518

526

Solar heat [internal]

168

173

182

183

127

205,600

184,335

187,606

164,798

160,944

349,108

328,439331,380

305,960

328,906

Subtotal (MWh)Total (MWh)142,232

127,967

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)
FY2018FY2019FY2020

FY2021

FY2022

Scope 1

t-CO2e30,12430,37730,202

29,18934,695

Scope 2t-CO2e91,49075,15079,36164,121

55,424

121,614

105,527

109,563

93,31090,119

15.5

13.3

13.7

12.4

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

10.4

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 powerpurchase.

CO2 Emissions (Scope 3)
FY2018Logistics (t-CO2e)
Indexes certified external assurance.

FY201950,779FY202052,486FY2021

46,415

FY2022

34,86841,177

Scope 3: Category 4 Upstream transportation and distribution

CO2 Emissions for the Entire Supply Chain
Category

FY2018

Scope 1

t-CO2eScope 2t-CO2eTotal (t-CO2e)

Scope 1+2 (Market-based method)

Scope 3 t-CO2e
Total (t-CO2e)

Scope 1+2 (Market-based
method)+3

FY2019FY2020

FY2021

FY202230,12430,37730,202

29,18934,69591,49075,15079,36164,121

55,424

97,67980,35886,17772,96966,612

121,614

105,527

109,563

93,31090,119454,443

480,159435,734

476,490423,220576,057

585,686545,297569,800

513,339

Scope 3Calculation Method (Assumptions)

1. Purchased goods and services (t-CO2e)

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

84,79583,01975,04056,242

2. Capital goods (t-CO2e)

Calculated by multiplying facility investment value by basic unit

197,863

199,918

184,026

274,407216,255

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

9,871

10,81910,76016,214

16,947

Calculated by multiplying transport ton/kg of leading products by
4. Upstream transportation and distribution (t-CO2e)
basic unit (including delivery logistics)

50,77952,486

46,41534,86841,177

5. Waste generated in operations (t-CO2e)

Calculated by multiplying worksite waste output by basic unit

8,012

5,063

5,398

4,233

4,019

6. Business travel (t-CO2e)

Calculated by multiplying business travel expenses by basic unit

20,035

19,58816,601

4,708

5,168

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

14,20013,811

13,867

12,48012,449FY2018FY2019FY2020

FY2021

FY202249,365

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

Calculated as Scope 1 and 2 GHG emissions

-

-

-

-

-

9. Downstream transportation and distribution (t-CO2

Classified as transport from dealers and sales companies to thecustomer 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., forlifetime of sold product by basic unit

65,97993,39880,73871,07375,627

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

Calculated by multiplying product disposal weight by basic unit for
waste material

2,909

2,057

2,889

2,265

2,213

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

Calculation including use of sold products, although some products
are leased

-

-

-

-

-

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
FY2018NOx emissions (t)FY201967

FY202060

FY202161

FY2022
56

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

Sox emissions
FY2018Sox emissions (t)FY20190.2

FY20200.3

FY2021
0.3

FY20220.3

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

Water consumption
FY2018FY2019FY2020

FY2021

FY2022Groundwater (1,000 m3)

656

675

660

673

646

Piped water (1,000 m3)

623

518

522

382

315

Total (1,000 m3)

1,279

1,193

1,182

1,055

961

Basic unit of consolidated sales (1,000 m3/100 million yen)

0.16

0.15

0.15

0.14

0.11

*Scope: The Olympus Group (excluding small companies)

Wastewater
FY2018FY2019FY2020

FY2021

FY2022Public water areas (1,000 m3)

499

519

493

547

524

Sewage systems (1,000 m3)

780

674

689

508

437

1,279

1,193

1,182

1,055

961

Total (1,000 m3)*Scope: The Olympus Group (excluding small companies)

Emissions/Landfill
FY2018FY2019FY2020

FY2021

FY2022Emissions (t)

7,161

6,958

7,158

5,825

5,362

Amount recycled (t)

5,847

5,604

5,555

4,823

4,575

Other waste (t)

1,314

1,354

1,603

1,002

787

Landfill (t)

150

100

107

63

99

Basic unit of consolidated sales (t/100 million yen)

0.91

0.88

0.90

0.78

0.62

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

Hazardous waste discharged30

FY2018
Hazardous waste discharged (t)FY2019273

FY2020317

FY2021311

FY2022287

265

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

Emissions and Movements of PRTR Class 1 Designate
FY2018Chemical substances (PRTR substances) (t)FY2019FY2020

FY2021

FY2022

17.7

18.8

19.3

15.4

14.6

FY201862.3

FY201981.9

FY202083.9

FY202157.8

FY2022
56.7*Scope: Manufacturing and development sites in Japan

Volatile Organic Compounds (VOC) Emissions
Volatile Organic Compounds (VOC) Emissionst*Scope: Manufacturing and development sites in Japan

Olympus Group Site Data
Company/Facility

Location
FY2022Ishikawa Facility Hachioji-shi,
*1
Tokyo

Utsugi Facility*1Olympus

Takakura
Facility *2

Hachioji-shi, Tokyo

Hachioji-shi, Tokyo

Nagano Facility
Tatsuno *2

Ina

Ina-shi, Nagano

Olympus Medical
Hinode Plant
SystemsJapan
AizuAizu Olympus

Aomori Olympus

Kuroishi-shi, Aomori

Shirakawa Olympus

Mishima Plant

R&D Center

Olympus Corporation of theAmericas

Americas

Olympus Scientific Solutions
Americas Corp.

Olympus Surgical Technologies
America

Olympus Winter & Ibe GmbH

Pennsylvania,
U.S.A.

U.S.A.

U.S.A.

Amountrecycled (t)Emissions (t)
246

246

FY2021

7,821

74

255

255

FY2020

8,620

106

398

398

FY2019

8,876

99

385

385

FY2018

9,100

99

488

488

FY2022

2,599

20

417

417

FY2021

2,644

22

335

335

FY2020

2,878

28

287

287

FY2019

3,110

28

264

264

FY2018

2,444

21

105

105

FY2022

382

3

11

11

FY2021

345

3

6

6

FY2020

365

5

14

14

FY2019

424

5

15

15

FY2018

399

4

15

15

FY2022

15,372

353

747

743

FY2021

14,657

367

630

626

FY202016,673

365

735

728

FY201917,198

325

679

673

FY201817,079

312

663

660

FY2022

1,836

16

79

77

FY2021

1,840

16

82

78

FY2020

1,993

16

91

83

FY2019

2,028

18

89

81

FY2018

2,125

17

84

77

FY2022

1,152

6

46

46

FY2021

1,120

5

49

49

FY2020

1,282

6

47

47

FY2019

1,339

6

63

63

FY2018

1,327

6

53

53

FY2022

13,056

220

444

413

FY2021

12,851

228

452

420

FY202013,779

192

487

450

FY201913,891

254

466

431

FY201813,154

249

428

396

FY2022

3,999

33

279

279

FY2021

4,013

29

245

242

FY2020

4,421

37

265

265

FY2019

4,321

38

265

265

FY2018

4,078

33

233

233

FY2022

3,663

41

375

322

FY2021

3,821

41

409

335

FY2020

3,905

41

414

337

FY2019

3,736

38

394

333

FY2018

3,545

36

368

309

FY2022

1,273

7

13

8

FY2021

1,321

7

13

8

FY2020

1,382

8

10

8

FY2019

1,435

7

10

7

FY2018

1,412

6

10

8

FY2022

29

0.03

2

2

FY2021

24

0.03

2

1

FY2020

23

0.02

1

1

FY2019---FY2018---FY2022Olympus Logitex *3Water
CO2 emissions
consumption(t-CO2e)(1,000 m3)
7,825
68

614

-

393

393

FY2021

682

-

393

393

FY2020

620

-

393

393

FY2019

636

-

360

360

FY2018

656

-

350

350

FY2022

13,725

5

314

290

FY2021

10,126

1

314

314

FY202012,607

16

490

490

FY201913,348

17

594

588

FY201813,080

20

505

505

FY2022

1,135

19

247

100

FY2021

959

15

199

81

FY2020

1,037

22

242

81

FY2019

1,344

35

191

82

FY2018

1,427

44

145

80

FY2022

2,019

35

507

328

FY2021

3,286

35

683

469

FY2020

4,677

33

892

533

FY2019

6,388

28

795

482

FY2018

7,840

26

833

527

FY2022

2,838

23

249

249

FY2021

2,440

15

319

319

FY2020

1,142

15

345

345

FY2019

587

15

318

318

31

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

Algram Group Ltd.

Olympus (GuangZhou) IndustrialCo., Ltd

Olympus Trading (Shanghai)
LimitedAsia/Oceania

Olympus Vietnam Co.,Ltd.

Victoria,
Australia

Olympus Australia Pty Ltd

FY2018

603

13

313

313

FY2022

735

2

18

0

FY2021

763

1

15

0

FY2020

648

1

18

0

FY2019

735

1

15

0

FY2018

703

1

15

0

FY2022

2,828

18

218

159

FY2021

912

25

324

273

FY2020

904

24

384

303

FY2019

859

27

374

328

FY2018

954

27

381

342

FY2022

62

2

53

28

FY2021

42

2

106

74

FY2020

42

2

107

75

FY2019

42

2

107

75

FY2018

54

3

122

52

FY2022

336

2

78

74

FY2021

331

3

79

75

FY2020

336

3

113

107

FY2019

318

3

107

102

FY2018

266

3

93

88

FY2022

475

1

16

5

FY2021

290

1

20

7

FY2020

244

1

10

5

FY2019

214

1

12

8

FY2018

363

1

15

15
307

FY2022

7,202

56

448

FY2021

16,087

140

738

385

FY202023,707

223

1,174

454

FY201915,983

207

1,115

551

FY2018

8,344

170

1,045

570

FY2022

299

1

54

22

FY2021

294

1

45

18

FY2020

328

2

61

32

FY2019

330

2

70

35

FY2018

339

2

74

41

*1 Including Olympus Medical Systems*2 Part of the Takakura Facility and Nagano Facility_Tatsuno was transferred to Evident on April 1, 2022.
*3 Olympus Logitex was merged into Olympus Corporation on April 1, 2022.
*4 For FY2018, Olympus America Inc.

Environmental Conservation Costs
FY2018Environmental conservation
cost classification (million yen)

FY2019FY2020

FY2021

FY2022

Investment amount

Cost amount

Investment amount

Cost amount

Investment amount

Cost amount

Investment amount

Cost amount

Investment amount

Costs Inside Business Area

184

263

104

236

292

376

244

368

80

356

Prevention of Public Nuisance Cost

24

119

31

113

22

184

22

219

32

214

Global Environmental Conservation Co

144

8

73

3

240

40

213

37

47

12

Resource Circulation Cost

16

136

0

120

30

152

9

112

1

130

In Upstream Costs

0

64

0

109

0

149

0

230

0

102

In Downstream Costs

0

3

0

5

0

1

0

1

0

5

Environmental Management Activity Co

0

342

0

355

0

345

4

276

10

225

R&D costs

0

695

0

468

0

62

0

35

0

116

Social activity costs

0

6

0

6

0

1

0

0

0

0

Environmental damage costs

0

0

0

0

0

0

0

0

0

0

184

1,373

104

1,179

292

934

248

910

90

804

Total

Cost amount

Target period: April 1, 2019 - March 31, 2022

Environmental Conservation Effects
Quantitative Effects of Environment Preservation

Effects Inside Business Area

Cost Savings (million yen)

FY2019FY2020

FY2021

FY202255,09257,021

55,971

51,18651,801

Waste discharged (t)

2,633

2,827

3,142

2,870

3,052

Water consumption (1,000 m3)

783

819

804

790

766

Chemical Substances
Transferred/Discharged (t)

18

19

19

15

15

Economic Benefits of Environmental Protection
Revenue Benefits (million yen)

FY2018CO2 emissions (t-CO2e)

Change from previous year
FY2018FY2019FY2020

FY2021

FY2022

Proceeds from sale of valuable
resources through recycling
Energy cost

6

-6

-1

0

21

63

224

18

-248

252

Water consumption cost

4

6

5

-8

0

Waste disposal consignment cost

9

11

0

-3

26

Target period: April 1, 2019 - March 31, 2022

32

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

Initiatives with Suppliers
Olympus publishes "Global Standards: What Olympus Expects of Third Parties" to show its basic requirements to all the third-parties that support its
business activities. Olympus has also adopted the "Request to Suppliers," a document defining its expectations toward suppliers in such areas as respect forhuman rights, compliance with laws, regulations and social norms, including the laws concerning the exclusion of antisocial elements, the prohibition ofcorruption, bribery and similar behavior, the promotion of fair and equitable trading, and consideration for the environment. Once each year, we use a Webbased system to conduct a corporate survey in this regard targeting major suppliers all over the world, and the survey results are utilized for work procedure
improvement to avoid problematic incidents. There have been zero incidents so far. In cases where we find problems related not only to compliance withlocal regulations and social norms but also respect for human rights in our on-site audits and if the supplier does not comply with Olympus's request to make
improvements, we may terminate our business with them.
Request to Suppliers (PDF: 248.1KB)
Global Standards: What Olympus Expects of Third Parties

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 are reinforcing our global activities in the area of human rights due diligence in compliance with the principles set out
by the United Nations. In January 2021, we started a human rights impact assessment with support from BSR for the entire Olympus Group, including our
regional headquarters (for the Americas, EMEA, China and Asia-Pacific), in which senior management in each region, including the managers of businessdivisions and functions participated. This ended in the first quarter of FY2022. Through these activities, human rights issues related to the corporate activitiesof the Olympus Group were clarified, debriefing sessions were held for related parties including the managers of related divisions, and it has been possible toimprove awareness in relation to business and human rights. Further, in FY2022, we implemented online education composed mainly of basic information onhuman rights and the UN Guiding Principles for members of the Olympus Group in Japan in order to encourage each and every employee to act withawareness of human rights to prevent infringements. This introduced the fact that interest in forced labor, foreign labor and child labor in supply chains has
increased internationally as a trend in recent years. We are providing education with similar content in each region of the Olympus Group outside of Japanthroughout FY2023. Also in FY2023, we have started on the construction of systems to establish human rights due diligence among employees of the
Olympus Group.

Preventing Harassing Behavior and Promoting Diversity and Inclusion

33

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." Olympus Group does not tolerate harassment or discrimination based on personal
characteristics such as gender, age, nationality, ethnicity, skin color, political views, sexual orientation, religious beliefs, social background, or disability.
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. Olympus and its Japan subsidiaries have also established a Harassment Hotline in each business site andsubsidiary as a preventive means and to provide a prompt and pertinent solution if a problem arises. Our Hotline officers are trained with the skills andknowledge to handle complaints appropriately, which include the protection of the privacy of the consulter or harassment victim, ensuring consultation
confidentiality, and preventing any adverse consequences from the consultation. Since FY2019, we have delivered the Harassment Prevention Guidebook to
all employees of the Japan subsidiaries. In this guidebook, a description of gender minorities, such as LGBTQ, was also included. We keep up-to-date withthe expanding scope of harassment, which covers power harassment and gender harassment, including maternity, paternity, and LGBTQissues. Accordingly,
the coverage of our internal consultation manual has been revised and enhanced. In June 2020, the so called "Power Harassment Prevention Act," which
stipulates that companies must take preventative measures regarding harassment, was enforced. In preparation for this and to avoid potential incidents weprovide 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 (with 730 participants in FY2020—a 79% participation rate), who areresponsible for creating a culture of respect in the workplace, to widen their understanding and to ensure harassment-free offices.
To promote diversity and inclusion (D&I), we organize activities centered on supporting the empowerment of women, and promoting understanding andsupport for sexual minorities.
Diversity and equal opportunity: Society: Sustainability: Olympus (olympus.co.jp)
In particular, w to widen understanding and support for sexual minorities, we established a dedicated consultation office in Japan, held seminars to promoteawareness (about 90 participants last fiscal year), hosted an LGBTQ Week (e-learning) and promoted voluntary ALLY activities. As a result of our efforts, we
received the Silver rating on the PRIDE Index 2021, a Japanese index of corporate performance in LGBTQ inclusion.

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)34

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 Group 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 Group Quality Policy

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. One example is to provide
seminars to share case studies for both R&D and manufacturing employees to have them realize that their daily work is connected to the customers andpatient's safety.

Quality Management System
The Olympus Group has established the Olympus Group 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. 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 Groupbusiness divisions and subsidiaries have actively been obtaining and maintaining ISO 9001 or ISO 13485 certifications, the international quality control
standards. 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 at monitoring the status of eachquality management system from an objective perspective to get hold of the status of each organization to promote improvement.

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 "Standards for management of environmentally related substances" in our group products. The Standards are published on our website.

(Case 2)35

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.

36

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)
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 (① in the Figure below) and conducting activities to raise awareness of the importance of screening (② in the Figure below). As
part of our commitment to “early detection,” “definitive diagnosis,” and “treatment,” we provide medical institutions with endoscopic systems, technologies tosupport endoscopic diagnosis, and a variety of surgical instruments that enable minimally invasive procedures that reduce the burden on patients. (③ in the
Figure below)
We also provide maintenance information dissemination to facilitate necessary examinations (④ in the Figure below), and aim to improve patient quality oflife by comprehensively addressing patient care pathways.

37

38

Elevating the standard of care

Basic Concept
The Olympus Group aims to improve patient outcomes by elevating the standard of care in targeted diseases. We have a dedicated organization that serves
our patients, healthcare professionals, and community by bringing medical, scientific, and professional capabilities to help ensure we deliver a portfolio
clinically relevant, economically valuable, and safe products and solutions around the globe.
This organization serves three important roles:
1. Strengthen Olympus Group’s functional capabilities to develop medical device innovations promoting patient-centered solutions that are safer andmore effective.
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, health care systems, andsociety.

Initiatives

Focus on Global Training for Healthcare Professionals
The department dedicated to promoting this initiative has invited experts to provide training for healthcare professionals to promote the safe and proper useof Olympus medical products. In 2021, we launched the training form OLYMPUS CONTINUUM as an educational platform offering a comprehensive
program of medical products and procedures. OLYMPUS CONTINUUM is designed to provide training tailored to the skills of healthcare professionals,
taking advantage of the online nature of the program, in addition to traditional group onsite training, from pre-training to post-training follow-up. We haveopened a portal site in five languages and are expanding our web-based training tools, including a learning management system (LMS)*1 and an on-demand
library*2.
In FY2022, we provided a total of 1,285 training sessions (+34% YoY) in each business area (global) despite COVID-19.
*1 System for realizing a series of online processes from registration to attendance of hands-on training and lectures (implementation status varies by region).
*2 System for posting a wide variety of learning content, mainly videos and procedure booklets for healthcare professionals

Olympus Continuum training results

Number of times held (year on year)
1,285 times (134%)

Olympus Continuum

Grant Initiatives
Through our Grants Program, the 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 advanced fellowships and hands-on trainings across the world. Patient-facing support includes disease awareness programs, health care capacity
building, and care initiatives for patients in need. A limited number of research Grants support independent studies related to Olympus product areas. Over39

335 unique organizations received Olympus Grants in FY2022 to conduct programming in more than 50 countries. In addition to in-kind awards, financial
Grants made by the Olympus Group in FY2022 totaled approximately US$6.4 million.

40

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, and Japan. Based on the monitoring results, issues are clarified and prioritized, the impact on business isquantified, and feedback is provided to each department in charge to improve the quality of activities. By continuing these efforts, we hope to deepen therelationship of trust with our customers.
In 2022, we began monitoring in the Australia 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:Improvement of complaint management
Visualization of order management status
Development of internal infrastructure for communication with customers
Americas:
Revision of policy on lending substitutes to customers during repairs
Improvement of service engineer communication skills
Development of portal site to check the status of repairs

41

Japan:Establishment of a working group dedicated to improving customer satisfaction

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*

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

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

equipment, and handle troubleshooting while using the equipment actually in

5. Equipment inspection by service staff*use.

6. Proposal of operation plans tailored to the equipment’s usage status

2. Field service staff response
Field service staff will hurry to the site to inspect the equipment and take action* This service is provided upon customer request.

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

42

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.

43

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 (the environment, society and governance) initiatives to contributeto sound 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 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 "Request to Suppliers" as a concrete guideline for complying with laws, regulations and social norms, including respect for human rights
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 its suppliers through fair,just, and transparent transactions.
Procurement

System, Mechanisms and Initiatives

Sharing Business Strategies and Supply Chain Policy
Olympus is sharing the corporate strategies and procurement policy of the Olympus Group with our suppliers.
Once a year, we hold the Supply Chain Policy Meeting with key suppliers extracted from the business condition with us, etc., among approximately 1,000
suppliers for each business in Japan.
In FY2022, we canceled onsite meetings with suppliers due to the circumstances around COVID-19, but we sent out materials regarding our policies toshare them.

Supplier Survey and Improvement Activities
Once a year, Olympus conducts a web-based survey of its 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, related to management information, sustainability initiatives, and business continuity plans(BCPs).
In FY2022 the survey was conducted on 774 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 Request to 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

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 discharged, water usage, environment-related chemical

44

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, ISO9001 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 U.S. 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 Adhering to the Subcontract Act
The Subcontract Act is regarded as one of the important applicable laws by Olympus, and Olympus engages in a wide range of activities to ensurecompliance. The participation rate for the Subcontract Act e-learning programs for all employees of Olympus and its Japan subsidiaries has reached 98%.
Following the establishment of the Subcontractor Act Promotion Committee in FY2020, we are reinforcing the Olympus Group's compliance with the act andare providing internal workshops as a part of such efforts. In FY2022, we held online workshops for our manufacturing divisions, with 999 participants. In
addition, 2,949 employees participated in the e-learning program for R&D divisions to deepen their understanding of the Subcontract Act.
We will continue to provide education throughout the company to ensure group-wide compliance with the Subcontract Act.

45

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 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 "job-focused employment” toall 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 the individual'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 theirperformance. We believe that these reforms in the human resources system will provide a shortcut for employees to draw their own career passes whilepursuing their expertse.
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)

46

Initiatives

Recruitment in FY2022
Olympus hired 241 employees (only full-time employees) in FY2022, up by 167% over the previous year. Of these, mid-career employees accounted for 85%
of the total.
Also, the hiring of women was actively promoted in line with the Act on Promotion of Women's Participation and Advancement in the Workplace, and thepercentage of female employees increased by 4.7% to 31.9%.

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 2022, the employment rate of eight special corporate groups was 2.6%, 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 FY2022, 76 people newly qualified for the system, and 100% of the employees requesting continued employment were hired accordingly.

47

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 Olympus top management provides regular opportunities to engage in labormanagement consultations, both centrally and at individual facilities, such as
during its twice-annual Central Labor-Management Council with the Olympus Labor Union. Such councils serve as a forum for discussing improvements inlabor conditions and corporate culture reforms.
In the FY2022, labor-management talks confirmed that we would continue discussions on management measures and organizational culture development ingeneral. We also postponed pay-scale increase for those at non-managerial positions.
As of April 1, 2022, 4,631 permanent employees (other than those at managerial positions) were members of the labor union, which covers 69% of all
employees.

48

Training and Education

Basic Approach

Basic Approach to Human Resource Development
The Olympus Group regards its employees as its most important management resource from a long-term perspective. By treating every employee withrespect, sincerity and empathy, we aspire to become an organization capable of working globally with speed and solidarity in the face of changes in thebusiness environment. To achieve this goal, every employee needs to gain a deep understanding of the principles and values shared by the entire Groupand the skills to conduct business on a global scale, along with leadership and a high level of expertise. We believe it is important to trust in the incentive andenthusiasm shown by our employees and to assign each person to a job that matches their capabilities so that they can make the most of their own
individual skills and competences.
For this reason, we have introduced activities to disseminate and energize these principles and values, including organization of a Core Value Week, which
is held simultaneously worldwide, skills training programs held internally in the Global Group and foreign language learning programs for employees who
work in non-English-speaking regions. In addition, the Olympus Global Talent Management System has been introduced for job definitions that require theimplementation of management strategies. We are starting succession planning (planning to train successors for various job functions) for important
positions and working to make effective use of human resources regardless of nationality so that we can maintain our advanced levels of expertise.
Other activities include the establishment of a globally unified leadership competency model, Leadership Academy, to train employees to exercise leadershipand one-on-one support and onboarding programs in an effort to create a corporate culture that enables employees to continue to demonstrate outstanding
performances in their jobs and a study of how to upgrade our human resources development.

Promotion Structure and Systems

Promotional Structure in Human Resources Development
In addition to the human resources development systems that operate in each region, to ensure optimal development of human resources on a global scale,the Olympus Group has improved its coordination between human resources development systems at the global and regional levels by organizing them into
mirror organizations. Coordination among leaders of business and functional organizations has been improved by appointing human resources officers
responsible for business and functional organizations known as HR Business Partners. This scheme is designed not only to assure consistency throughout
our global organization, but also to maximize the efficiency and effectiveness of human resources development measures adapted to conditions specific toeach region and business.
Human resources coordination between global and regional operations has proven effective in bringing greater efficiency to worldwide programs from the
aspects of better multilingual responses, better coordination among existing regional programs and more effective resolution of business and organizational
issues through closer coordination among business and leaders of functional organizations.

Training and Education System
The Olympus Group has started succession planning for critical positions under the title "Leaders Developing Leaders," established a global leadershipcompetency model (GLCM) for promising leadership candidates in 2019, to be introduced to the senior management level and then expanded to all
management from 2021, and activities aimed at the exercise of leadership and rendered assistance with skills development. From 2021, a 360-degree
feedback system based on the GLCM (a system to measure the degree to which a target person demonstrates competency by multiple evaluators in
different positions, including colleagues and subordinates as well as supervisors) will be introduced and rolled out to all managers around the world.
Additionally, the globally unified skills training program that was started in 2019 is progressing as planned with a total of 6,000 participants as of the end of
March 2022, and further development and establishment of the program is underway.
At present, Olympus and Olympus Medical Science Sales 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 group49specialized skills training and compliance training programs. With advances in the online environment in recent years, we are working to develop more
effective and efficient skills development systems. Specifically, we have reduced travel costs by conducting online group training programs, created newinternal 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 inthe 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 Masters (MM). From new recruits toMMs, we nurture our employees in a planned manner according to their level. As of April 1, 2022, the cumulative number of advanced technicians reached147.
We provide training programs oriented toward certification and programs that allow higher ranking certified technicians to provide assistance to raise themotivation of each employee.
At Olympus Vietnam Co., Ltd., where medical products are manufactured, a certification system for bonding and soldering work has been introduced. This isdesigned to upgrade the training and education programs and contribute to the creation of a global manufacturing system.

Skill level of Manufacturing Technicians Training Program (Manufacturing sites in Japan)

50Diversity and Equal Opportunity

Basic Approach

Systems and Mechanisms

Promotion Structure and Initiatives

Targets and Achievements Data

Basic Approach
The Olympus Group is committed to realizing "health, security, and spiritual enrichment for people around the world," and diversity and inclusion (D&I) is thefoundation of all our activities. We respect diversity in all its forms and strive to create a healthy organizational culture in which diverse human resources
accept each other and allow each individual to perform at his or her best.

Diversity & Inclusion (D&I) Concept in Japan
Along with respecting diversity in terms of gender, age, nationality, disability, sexual orientation, gender identity, values, and work style, we will work to create
an open organizational culture in which everyone accepts supports each individual to understand and overcome their unique challenges.
Human resources who have mastered various fields will demonstrate their abilities in their areas of expertise, and unite with each other to utilize each other’s
opinions and create new value. To this end, we are committed to understanding the diverse needs of the world and providing an environment in which eachand every Olympus employee can thrive in these challenging times of change.
Through D&I, people should gain new values and ways of thinking, enrich their minds, and work with a sense of happiness. Through this, we will continue tomove forward toward a healthy organization.

Medium-Term Initiatives Policy

D&I Direction

51

Changes to D&I 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.

52

*2 Employees who are involved in work that requires regular working hours may not be eligible.

Promotion Structure and Initiatives
Olympus is working on D&I (Diversity & Inclusion) within the Organizational Development Division to strongly promote the cultivation of an organizational
culture in which diversity is respected and a diverse workforce can thrive.
At Olympus and its Japan subsidiaries, the Human Resources Division serves as the center for dialogue with employees and the labor union, providing
systems to support an active role for diverse human resources and appropriately drafting and implementing measures. In FY2018, we strengthened our
promotion system and established a dedicated diversity organization to further enhance our promotion system.. We are committed to continuing working on
this issue.
Diversity and Inclusion in the Americas
Diversity & Inclusion (Olympus Corporation of the Americas)

Promoting the Advancement of Women
The Olympus Group actively recruits and promotes high quality professional and talented people and provides them with opportunities to work in ourcompany 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)
As of April 2022, Olympus has 85 female employees in managerial positions with a ratio of exceeding 6%. The ratio of female assistant managers andsection heads who are candidates for managerial positions is 14.0%, and the overall ratio of female employees is 20.1%, both of which are higher than in theprevious fiscal year. To combine both private life and career development, we have introduced various systems, 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 businesssites.
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.

Female leader’s training (online)

Training for managers to promote understanding

53

Olympus Kids Garden at the Hachioji Plant

Women's Activity Promotion Training System

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, andOlympus 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 2021
54

Olympus has established a dedicated consultation office in Japan to promote understanding and support for sexual minorities.
In FY2021 we also promoted other initiatives such as seminars to promote understanding (about 90 people attended), LGBTQ Week (e-learning and eventswere held), and ALLY activities were conducted by volunteers.
As a result of these activities, we received a "Silver" certification in the "PRIDE Index 2021," an evaluation index for LGBTQ initiatives in Japan.

Examples of Overseas Initiatives
Diversity and inclusion in the Americas

Targets and Achievements Data
[Female]Female officers: 8.8%
Females in managerial positions: 6.02% *(Target 10%FY2028)
Female section supervisors: 14.0%
Female employees: 20.1%
Female new graduates recruited: 25.9%
Female mid-career hirings: 25.3%
Male years of continuous employment: 14.10 yrs
Female years of continuous employment: 10.90 yrs
Females with children: 41.4%[Foreign nationals] as of April 2022
Officers with foreign nationality: 32.4%[Other]
Persons with disabilities: 2.8% (as of April 2022)
Childcare (FY2021 actual)
1. Took childcare leave (males): 41.3% *Includes system allowing employees to take up to three days of special leave (with pay) when their wives give birth
2. Took childcare leave (females): 100%
3. Childcare leave period (males): 41.1 days
4. Childcare leave period (females): 367.4 days
5. Retuned after childcare leave: 100%
Workstyle (FY2021 actual)
1. Annual leave: 12.5 days
2. Average legal overtime hours per month: 7.0 hrs
3. Telecommuting use: 65.0% of eligible employees used service at least one day per month55

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
The Olympus Group is promoting a global safety and health organization, as shown below. Based on the Environmental Health and Safety Policy, we set out
an annual EHS (Environmental, Health and Safety) action plan and disseminate it throughout our global sites. With the aim to comply with laws andregulation and to reduce risks of occupational safety and health, we are promoting various initiatives in each global site, as establishing health and safety
management system, risk assessment, risk reduction activities, employee education and training, internal audits, workplace patrol, risk assessments byoutside experts, and so forth.
In the FY2022, we had promoted safety and health activities with the goals of achieving zero serious accidents and reducing the lost time injuries ratio. We
promoted measures to address priority risks at each site, including measures against single-edged razors in the Japan region, and strengthened employee
education and training in all regions. As a result of these activities, we achieved zero serious accidents and lower lost time injury ratio, the same level as two
years ago.

56

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. In FY2022, sites that have already acquired
certification maintained it, and Olympus Iberia S.A.U. and Olympus Scientific Solutions Americas Corp. completed the transition from OHSAS18001 to
ISO45001.

Sites

Certification

Year of Certification

Aizu Olympus

JISHA OSHMS Standards*1

2011

Shirakawa Olympus

ISO 45001

2020

Aomori Olympus

JISHA OSHMS Standards*1

2009

Olympus Scientific Solutions Americas Corp.

ISO 45001

2021

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: Olympus Europa SC & Co. KG (regional headquarters) and its major subsidiaries
Asia/Oceania: Major manufacturing sites

Number of Occupational Injuries*2

57

FY2018
Japan

FY2019FY2020

FY2021

FY2022

64

50

56

37

23★

Americas

-

73

55

26

52★

Europe

-

84

20

63

49★

Asia/Oceania

-

19

10

19

17★

Total

-

226

141

145

141★

★ Indexes certified by external assurance.
*2 Total of lost time injuries and non-lost time injuries

Number of Lost Time Injuries
FY2018Japan

FY2019FY2020

FY2021

FY2022

10

6

4

2

2★

Americas

-

37

20

4

12★

Europe

-

11-

6

16

14★

Asia/Oceania

-

14

8

6

4★

Total

-

68

38

28

32★

★ Indexes certified by external assurance.

Lost Time Injuries (of one day or more) Frequency Rate*3 (LTIFR)
FY2018Japan

FY2019FY2020

FY2021

FY2022

0.34

0.20

0.13

0.08

0.08★

Americas

-

3.27

1.93

0.39

1.13★

Europe

-

1.97

1.07

2.04

1.86★

Asia/Oceania

-

1.34

0.77

0.62

0.72★

Overall

-

1.17

0.66

0.52

0.67★

All industries (Japan)*4

1.66

1.83

1.80

1.95

2.09

Manufacturing industry (Japan)*4

1.02

1.20

1.20

1.21

1.31

★ Indexes certified by external assurance.
*3 Lost time injury frequency rate = number of lost time accidents ÷ (number of employees for that fiscal term × work hours) × 1,000,000*4 Survey on Industrial Accidents, Ministry of Health, Labour and Welfare

Occupational Illness Frequency Rate*5 (OIFR)58

FY2018
Japan

FY20190.07

FY2020

FY20210.07

0FY202200★

★ Indexes certified by external assurance.
*5 Occupational illness frequency rate = number of cases of occupational illness that result in lost time*6 ÷ (number of employees for that fiscal term × work hours) × 1,000,000*6 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
FY2018FY2019FY2020

FY2021

FY2022

Japan

0

1

0

0

0★

Americas

-

0

0

0

0★

Europe

-

0

0

0

0★

Asia/Oceania

-

0

0

0

0★

Total

-

1

0

0

0★

★ Indexes certified by external assurance.

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
Basic

Subjects
New employees

training

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: 35 participants in April 2021
China: Implemented within 1 week after entering the company

Subject

Basic training on safety and health (safety and health-related laws and regulations, risk reduction measures,

employeesetc.)Americas: Implemented from October to December 2021 (4,705 participants)
Asia: Implemented in March 2021 (870 participants)
Japan: Implemented in May 2021 (10,840 participants)
Display Screen Equipment Training and Assessment
Europe: Implemented in July 2021 (about 1,000 participants)

Specialized

Subject

Hazard experience training through "Anzen Dojo" (Training Center) (Simulated experience of hazards thattraining

employees

may occur in the workplace)
Japan: Implemented at manufacturing sites
Training for hazardous materials handlers
China: Implemented in August 2021
Training on customs regulations when importing hazardous materials
China: Implemented in December 2021

Safety and healthTraining to improve the competence of safety and health patrollers (risk base audit procedures throughpromoters

virtual site tours)
Japan: Implemented in March 2022 (68 participants)

59

Category

Subjects

Contents

Risk Assessment Training
Europe: Implemented at manufacturing sites
Internal auditors

Internal Auditor Training
Europe: Implemented at manufacturing sites

Regional Activities

Activities in Japan
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. Specifically, we are working on initiatives to improve our current safety and health management system, establish a risk management based onrisk assessment and introduce more employee training and education to raise awareness.

Hazard Simulation Training
Occupational incidents occur when unsafe conditions in the workplace coincide with unsafe human behavior. Until now, the Olympus Group has focused on
reducing hazards that were founded on unsafe conditions in the workplace. Our current training focuses on unsafe human behavior, a characteristic of ourmanufacturing sites at Aizu Olympus, Aomori Olympus, Shirakawa Olympus and Nagano Olympus. We provide training programs to experience simulated
hazards such as slipping on slippery floors or electric shock using low frequency waves.

Skill improvement training for workplace patrollers
We provided online patrol skill improvement training by an external trainer for health officer and safety and health managers aimed at improving the quality of
workplace patrols to reduce safety and health risks.
68 participants from sites in Japan attended this training and learnt patrol methods based on risk base audit procedures through a virtual site tour.

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 and it has subsequently maintained zero occupational
incidents due to single-edge razors.

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 usedin sales and services divisions. At our Nagano Facility, managers accompany new employees when they start commuting by car and provide guidance suchas the hazardous points on the commuting route and checks of driving skills. In addition, at Nagano Facility, Shirakawa Facility, Aizu Olympus and Aomori

60

Olympus, managers check the switch to studless 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 are installed on their company cars to improve drivers’ observance oftraffic rules and driving manners.

Activities in Americas

Environmental safety and health training(Olympus Corporation of the Americas)
Olympus Corporation of the Americas implements basic environmental safety and health training for all employees in October, 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 theprogram to include content on ergonomics and the safe handling of heavy objects. In addition, from FY2022, it expanded the range of trainees from
employees in the United States of America alone to employees in all regions of the Americas by implementing training online, and 4,705 employees
participated in the program.

Activities in Europe

Maintenance of ISO 45001 certification and operation of the management system(KeyMed (Medical & Industrial Equipment) Ltd.)KeyMed (Medical & Industrial Equipment) Ltd. is maintaining the ISO 45001 certification acquired for all sites in January 2021 and operating its management
system. In FY2022, the company is implementing training for risk assessors including hazard and risk assessments, and conducting activities to reduce
accidents in the course of business. In combination, it is also providing training to improve the skills of internal auditors.

Transition to ISO 45001 certification(Olympus Iberia S.A.U.)
Olympus Iberia S.A.U., formerly promoted occupational health and safety under OHSAS 18001 certification. The company completed the transition fromOHSAS to ISO 45001 in March 2021. It will continue to maintain this certification from now on by receiving external audits on the sate of compliance witheach article of the management system standards.

COVID-19 vaccination center(Olympus Europa SE & Co. KG / Olympus Winter & Ibe GmbH.)
Olympus Europa SE & Co. KG, and Olympus Winter & Ibe GmbH established a COVID-19 vaccination center from June 2021 to ensure the safety of
employees and customers and maintain business in Hamburg. To this point, about 3,000 employees, their families and partners have received vaccinations
and boosters.

Activities in China

Renewal 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.

61

The company’s certification as a manufacturing safety standardization company was renewed in FY2022 in association with the establishment of a newbase.
The company analyzes the risks and looks at case studies of manufacturing safety on a regular basis, at the same time working to improve employee
awareness of manufacturing safety through a range of training programs.

Health and Safety Patrols & Firefighting & Evacuation Drills(Olympus (Guangzhou) Industrial Co., Ltd.)
Olympus (GuangZhou) Industrial Co., Ltd. conducts a safety check twice a day to maintain a safe and healthy workplace. In addition, an extensive healthand safety patrol takes place before holiday periods, such as for the foundation anniversary. The Company organizes annual firefighting & evacuation drills
as part of its efforts to raise employee awareness of safety. This is aimed at raising coordination among firefighting organizations, upgrading leadershipcapabilities, improving the capabilities of firefighting team in evacuation, rescue and firefighting, as well as in improving employee awareness of firefighting
and safety.

Promotion of Safe Driving(Olympus (Guangzhou) Industrial Co., Ltd.)
Olympus (GuangZhou) Industrial Co., Ltd. forms teams of employees who implement efforts for the observance by each other of traffic safety rules, andcarries out activities to prevent traffic accidents.

Activities in Asia/Oceania

Labor Safety Training and Near-Miss Activities(Olympus Vietnam Co., Ltd.)
Olympus Vietnam Co., Ltd. (OVNC) provides labor safety training at least once a year based on Vietnamese regulations. Since OVNC has a large number of
employees, up to about 5,000, it uses internal and external venues to hold training. In addition, OVNC is conducting near-miss activities gathering andanalyzing information on near-misses that occur internally and making improvements to try and reduce risks in the workplace.
OVNC is committed to training and improving knowledge on occupational safety and health for employees to ensure compliance with the principles and rulesof labor safety in the factory. To all people—support the criteria: "Safety comes first."

Emergency Drills and Chemical Substance Leak Response Drills(Olympus Vietnam Co., Ltd.)
Olympus Vietnam Co., Ltd. (OVNC) conducts on-site drills for firefighters regularly each year in addition to inspections of firefighting equipment aimed at
improving the skills of its internal firefighters. In addition, OVNC has also formed a chemical substance leak response team, holding on-site drills each year
and making improvements to the response process.

62

Occupational Safety and Health, Health Management

Basic Approach, Policy and External Certification

Activities in Japan

Basic Approach, Policy and External Certification

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, we established the Olympus Health Declaration to help maintain and improve the health of employees and theirfamilies.
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 assistancewith 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 and Initiatives

Health Promotion System
At Olympus and its Japan subsidiaries, the Human Resources EHS Division leads industrial health and health-related activities, and under the following
structure, each company and workplace with the Health Insurance Association to enable collaboration and coordinated action between the company and the
Health Insurance Association.

63

Particularly as an industrial health and welfare organization, we assign dedicated industrial physicians, and nurses, depending on the size of the businesssite, to share the actual state of employee health, respond to the issues, and develop activities to resolve the issues.. Also, the system is not only internal. In
cooperation with external institutions, we have established a health consultation service and prepared a system that can be used by employees, including
their families.
Under this system, we will create a health management strategy map, and plan, deploy, and review the results of each health measure, while continuing topromote initiatives to improve the health of our employees

Health management strategy map

External Certification

2022 Certified Health and Productivity Management Outstanding Organization ~ White 500 ~As a result of promoting activities in employee health management, implemented strategically from a management point of view, Olympus has been certified
for six consecutive years since 2017 as an excellent company by the White 500* Certified Health and Productivity Management Outstanding Organization
Recognition Program. In 2022, Olympus Marketing and Aizu Olympus Corporation were listed in the Certified Health and Productivity Management
Outstanding Organization Recognition Program.
Olympus health management is actively promoted through a combination of industrial health activities carried out by the company, including health guidance
based on health examination results and a range of mental health services, and activities led by our health insurance association, such as awareness-raising
about the prevention of lifestyle-related diseases and the promotion of cancer screening tests, including endoscope tests.
We will continue to work in cooperation with the Health Insurance Association to build work environments in which employees and their families can workand live healthily and vigorously. We will also work actively to promote health among employees of Japan subsidiaries and contribute to society through thepromotion of the health of customers through our business activities.

Olympus

Olympus Marketing* White 500, which is organized jointly by the Ministry of Economy, Trade and Industry and Nippon Kenko Kaigi, is a certification program to highlight outstanding large enterprises
engaging in efforts to advance health and productivity management in cooperation with health insurance associations, etc.

Sports Yell Company 2022

64

Olympus has been certified as a Sports Yell Company for two consecutive years by the Japan Sports Agency for being a company that works 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 COIVD-19 pandemic were evaluated highly. Further, Olympus Marketing and Olympus Terumo Biomaterials
were also simultaneously certified in 2022.
* The Japan Sports Agency certifies companies implementing positive initiatives towards the playing of sports for employee health promotion as "Sports Yell Companies."

Activity Policies and Achievements

Cancer Screening
Olympus is enhancing its cancer screening program using procedures such as endoscopic screening for the early detection of cancer. Such promotion
includes financial assistance of cancer screening by the Health Insurance Association for employees and their families, maintaining high screening rates forendoscopic examinations (69% for gastrointestinal endoscopy and 61% for colonoscopy), and not setting age limitations for gynecological examinations for
employees and families for the early detection of cancer. To further improve screening rates, we provide education annually through E-Learning to help
people obtain knowledge about cancer and receive screenings. In addition, we are working to improve screening uptake rates and the accuracy of cancer
screening by recommending that those who need to undergo further screening receive a medical examination.
We utilize a cancer screening call/recall program*, in which examinees for the current fiscal year are encouraged to take screenings following a certain set ofcriteria based on previous examinations.
* Call / recall system: A system that sends emails automatically to examinees selected based on previous screening data to advise on taking further cancer screening.

Cancer Screening Test Support System

Examination Item

Stomach cancer

Target

Health InsuranceYears Consultation

Cost Subsidy

Encouraged*

35 years and older

100% coverage

Once every two years

35 years and older

100% coverage

Year that Gastrointestinal(endoscope)
Stomach cancer(pepsinogen examination)
Colorectal cancer

endoscopy is not undertaken
35 years and older

100% coverage

Once every three years(endoscope)(40 years and older)

Colorectal cancer

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

Men 50 years and older

100% coverage

Once every two years

Abdominal ultrasonography

40 years and older

100% coverage

Once every two years

Lung cancer

40 years and older

50% (Limit of ¥5,000 including tax)

Individual decides whether(fecal occult blood test)(PSA marker)(lung helical CT)

to receive health 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).

Cancer Screening (screening rates*)
Examination Item

FY20

FY21

FY22

FY23 goals

Stomach cancer（%）

85.4

82.1

83.2

90

65

Examination Item

FY20

FY21

FY22

FY23 goals

Colorectal cancer（%）

81.6

79.3

80.7

90

Breast cancer（%）

71.7

72.3

74.5

74

Uterine cancer（%）

67.1

66.0

69.3

71

* Screening rate: Number of people who actually take an examination within the encouraged yearly interval set for a specific cancer divided by the total number of examinee
candidates.

Implementation of Health Promotion Activities for the Prevention of Lifestyle Diseases
Implementation of Health Promotion Activities for the Prevention of Lifestyle DiseasesOlympus believes that maintaining and improving the physical andmental health of employees is necessary to enhance their performance. Developing healthy lifestyle habits can prevent lifestyle-related diseases and lead tomental and physical health, and we will develop various measures with the goal of increasing the number of people who possess the five good health habits.

5 Health Habits

Olympus promotes activities under the Specific Health Guidance program to prevent lifestyle diseases. Specific health guidance for Olympus and its Japansubsidiaries is provided by healthcare workers and nurses working in the health management offices of each company, through counseling and guidance.
(Implementation rate of specific health guidance in FY2020: 51.5) In the past, we have provided personalized exercise guidance to employees, but we now
share online videos to promote exercise. (Total of 1,347 participants in FY2021) We are also implementing communication reinforcement measurespositively aimed at support for employee health. We started sending out regular newsletters last fiscal year and have provided information a total of eleventimes so far.
In addition, we introduced the WellsPort Navi portal site led by the health insurance association aimed at raising employee awareness of health management
and supporting their activities, to facilitate the health management activities of each and every employee. We are also rolling out a health campaign positively
using this portal site. Last fiscal year, the impacts on health due to changes in lifestyle patterns caused by the COVID-19 pandemic were particularly
concerning so we increased the frequency of campaigning and provided employees with more opportunities for activities.
Main campaign activities and participation (FY2022)

Month

Activity

Number of participantsParticipation rate

April

Spring walking campaign

2,751 people

19.7%

June

Toothbrushing campaign

2,430 people

17.3%

July

Summer walking campaign

2,491 people

17.8%

October

Autumn walking campaign

2,596 people

18.9%

66

MonthActivity

Number of participantsParticipation rate

NovemberToothbrushing campaigning

2,087 people

15.2%

December /Year-end, New Year weight management

1,901 people

13.9%

January

campaign

January

Winter walking campaign

2,505 people

18.3%

Activities to Quit Smoking
As an activity to prevent passive smoking, a ban on smoking inside all buildings and structures at Olympus and its Japan subsidiaries was put in place by theend of March 2020, and smoking was also banned on all sites by the end of March 2021. We also run the Quit-Smoking Marathon program, with health carepersonnel supporting employee smokers who want to quit smoking. Also, the Health Insurance Association provides an online quit smoking program,covering expenses in full. Thanks to these efforts, the smoking rate decreased to 16.4% as of the end of March 2022.

Smoking Rate (average at Olympus and Japan subsidiaries)*
End of March 2018 (at the start of activities)

22.0%

End of March 2019

20.0%

End of March 2020

18.4%

End of March 2021

16.9%

End of March 2022

16.4%

Preventing Mental Health Problems
Olympus and its Japan subsidiaries combine the four care programs below to support everything from preventive measures to the handling of employeeswith health problems and the resumption of work.

Self-care

Mental health training such as e-learning programs, mental toughness seminars, etc., for employees.
Interviews for all new employees and midcareer employeesLine care

Activities to support employees in the workplace, such as mental health seminars for workplace managers.

Care by industrial

Consultation and daily care service provided by industrial doctors and other health staff. Activities organized byhealth care personnel atindustrial healthcare workers in cooperation with the Human Resources Division for the returning to work program forbusiness sites

those with health problems.

Care provided by

Consultation service and seminars provided by external psychologists

resources outside thebusiness site

In addition, we are holding training workshops conducted by psychiatrists and other specialists in clinical practice for healthcare workers and nurses tosupport mental health care for employees.
We conduct the statutory stress checks all together in Olympus and its Japan subsidiaries. Appropriate interviews and personalized follow-up are provided inaccordance with the results for early response if necessary. We will continue to review its effective application as part of our mental health program.

Support for Treatment and Continuing to WorkTo help employees who are undergoing treatment to retain financial stability and continue their outpatient treatment, and to raise employee motivation,
various support programs have been introduced, including paid leave, flexible working hours and a work-at-home system. To provide greater employee

67assistance, a special leave program was introduced in April 2020 for employees suffering from a disease for which the Ministry of Health, Labour andWelfare recommends support.

Action on Infectious Diseases
The following activities are being conducted to prevent infectious diseases.
Hepatitis B antigen/antibody tests and vaccinations for medical professionals
Education programs on infection prevention to all employees who visit medical institutions
Vaccination of employees traveling overseas on business assignments and accompanying family members (vaccines recommended for the destination
region)Examples: Hepatitis A, hepatitis B, tetanus or DTP vaccination
Partial coverage of expenses for influenza vaccination
Starting in FY2020, rubella antibody test conducted with the health examination (in response to additional action on rubella announced by the Ministry of
Health, Labour and Welfare for men born from April 2, 1962 to April 1, 1979)
Vaccination at workplaces (25,961 employees, including contractors and temporary employees, were vaccinated for the first, second, and third times at all
Olympus workplaces in Japan in fiscal 2021 and 2022.)
Olympus's Response to COVID-19 (including safety and health)

Health Management for Expatriate Employees
In addition to the statutory health examinations for expatriate employees required on departure and return to Japan, employees can have a healthexamination (for the items in the complete medical examination) during a temporary return to Japan.
Industrial physicians, healthcare workers and nurses are assigned to provide everyday health counseling before departure and on return to Japan. The
health management service is offered not only to expatriate employees, but also to their families.
Further, industrial physicians are dispatched on a regular basis to overseas subsidiaries to upgrade the quality of health management for expatriate
employees.

Women's Health Support Initiatives
In conjunction with Women's Health Week in March, we invited a gynecologist to present an online seminar on women’s specific health issues.A total of 355
employees, both male and female, participated in the event, which was viewed 1,698 times on demand.
94% of the participants were satisfied with the seminar content, and we will continue to hold it regularly to support women's health.

Support for Partner Companies
The following activities are being implemented to support our partner companies.
Joint implementation of workplace vaccinations
Held a health management seminar at a general meeting for distributors (conducted by the supervising industrial physician)Main data on Health Management
For health management, basic activities (periodic health checkups, stress checks, etc.) are also properly implemented.
Actual values for each fiscal year are as follows.

Data item

Rate of taking medical
examinations

Details

Rate of taking regular medical examinations

Target for
activities
Increase over

FY2019FY2020

FY2021

FY2022

98.7%

98.9%

98.5%

98.7%

previous year68Data item

Rate of follow-up interviews

Details

Target for
activities

Percentage of employees eligible for post-

Improve overmeasures interviews for regular medical

previous year

FY2019FY2020

FY2021

FY2022

17.1%

17.7%

20.1%

15.8%

97.4%

95.9%

97.8%

99.1%

94.5%

94.2%

94.2%

90.9%

13.5%

13.3%

13.4%

15%

examinations checkups
Rate of implementation ofRate of implementation of consultation for

Increase overpost-medical examination

employees who require measures after

previous year

measurestaking a regular medical examination

Rate of taking of stress

Rate of taking of stress checks

checksIncrease overprevious year

Rate of employees withRate of employees with high stress among

Reduce overhigh stressthose taking stress checks

previous year

Activities in North America(Olympus Corporation of the Americas U.S.A)

Healthy Incentive Program
The company provides this program to employees and their partners, enabling them to receive cash or a health insurance premium deduction if at least threeof six biometric screening parameters are normal values. The six biometric screening parameters are height, weight, BMI, blood pressure, blood cholesteroland blood glucose.

Wellness Wednesday
Wellness Wednesday, which started in 2021, is a free virtual class that focuses on all aspects of wellbeing (physical, emotional, environmental, economy andsociety) on Wednesday each week. Because recordings of this class are available to all employees, they can participate in the live session or through arecorded session at a good time for them.

Activities in Europe(Olympus Europa SE & Co. KG Germany)

Workshop"Managing stress in uncertain times" was a 90-minute workshop in which more than 3,000 people participated. During this workshop, methods for reducing
stress due to the COVID-19 pandemic were provided in English and German.

Free vaccinations
The company is providing influenza vaccinations regularly.

(Olympus Iberia S.A.U. Spain)

Individual psychology sessions
The company implemented its first individual psychology sessions for all employees following the global pandemic. The company is planning to continue
providing these psychological sessions because they were very well received.

69

Activities in China(Olympus (China) Co., Ltd China)

Activities for improvement of the rate of taking endoscopy tests
The company increased the rate of taking endoscopy tests from 14% in 2020 to 42% in 2021 by holding lectures by a gastroenterologist and implementing
interviews with employees who took an endoscopy test and Q&A.

Activities in Asia / Oceania(Olympus New Zealand Ltd New Zealand)

Certification of Mental Health First Aiders
First Aiders who play a role supporting mental health have been established and 21 employees have been certified from various divisions and positions. If
mental health support is required, employees can receive support from a First Aider confidentially at any time.

70

Contribution to the development of healthcare

Supporting physician development in emerging countries

Olympus endoscopes are used for diagnosis and treatment all over the world, contributing to
the health and safety of people everywhere.
In particular, the rapid economic growth of emerging Asian countries in recent years has led to
an increase in lifestyle-related diseases such as cancer, for which countermeasures areurgently needed.
To contribute to improvements in local health standards by disseminating Japan’s superior
medical technology and services, Olympus is working with Japan’s international cooperation
organizations and academic societies to support the development of physicians to promote
early diagnosis and minimally invasive surgery using endoscopes.
These initiatives have spread to Thailand, Indonesia, Vietnam, and other countries, contributing
to the realization of healthy and happy lives for local people.

71

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
FY2019FY2020

FY2021

FY2022

Medical Excellence JAPAN

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

Advanced Medical Technology Association (AdvaMed)

US$566,595

US$591,440

US$590,262

US$595,603

Medical Alley Association

US$7,500

US$7,500

US$8,000

US$8,400

Medtech Europe

134,354 €

119,533 €122,000 €122,271 €The Asia Pacific Medical Technology Association (APACMed)

US$40,000

US$50,000

US$50,000

US$50,000

Japan Electronics and Information Technology Industries Association¥9,396,000¥8,004,960¥9,694,300¥8,160,000

Japan Medical-Optical Equipment Industrial Association¥3,575,550¥3,575,550¥3,650,350¥3,519,450

Medical Technology Association of Japan¥1,200,000¥1,200,000¥1,700,000¥1,700,000

Japan Association for the Advancement of Medical Equipment¥444,000¥444,000¥444,000¥444,000

Japan Association of Medical Devices Industries¥400,000¥400,000¥410,000¥410,000

The Japan Federation of Medical Devices Associations¥300,000¥300,000¥300,000¥300,000*Total delivery from company-wide72

Charitable Donation Initiatives

Charitable Donations and Grants Policy
Charitable Donations （Monetary）
Year

Number of cases

Total Amount

FY201824

13,280,226 yen

FY201918

16,028,224 yen

FY202018

10,977,619 yen

FY2021

11

47,610,820 yen

FY2022

21

161,687,743 yen* The above data is from Olympus only.

Charitable Donation Results
March 3, 2022

April 19, 2022

Olympus will join the global relief effort to help the people of Ukraine

Olympus Donates to the International Federation of Red Cross and Red Crescent Societies to Support Victims of the Crisis in
Ukraine73

Social Impact Assessment (Cancer Awareness)

Olympus group global cancer awareness activity
As a leading global medical technology company with key products in the field of gastric and colorectal cancer screening, detection and treatment, theOlympus Group bears a great social responsibility. It takes more than our innovative products to fulfill our Purpose to make people's lives healthier and more
fulfilling.
At the Olympus Group, we address relevant social issues by promoting impactful cancer awareness activities that generate outcomes for beneficiaries suchas public citizen like potential cancer patient and nonprofit partners on a global scale.
We, the Olympus Group, also conduct internal awareness campaigns for employees.
Accordingly, our cancer awareness activities contribute to a positive social change in the area of healthcare with the aim of improving the awareness andknowledge of prevention and early detection of cancer amongst our communities and employees.
In addition to raising awareness about cancer, we also focus on wellness activities that comfort cancer patients and their families during the healing process.

Introduction of logic model (Cancer Awareness)
The Olympus Group Cancer Awareness activity is implemented in accordance with the following logic model, which would give the maximum benefits tostakeholders.

FY2022 result
The Olympus Group conducted following activities in FY2022, under the newly developing situations by COVID-19, which restricted its capacity andopportunity world widely.

RegionCancer Awareness

Youth Education

Japan

7

13

Americas71Europe13

Asia(excluding Japan)

9

2

Japan

Americas

EMEA (Europe, Middle East & Africa)

China

Australia & New Zealand

Korea

74

Social Data

Updated July 25, 2022

*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 from LRQA Limited（LRQA）.
＞Independent Assurance Statement Related to Environmental Data

Diversity＆Inclusion
Number of employees
FY2018Global

FY201935,933Olympus Corporation

FY202035,124FY202135,174FY2022

31,65331,557

8,244

9,242

8,550

4,775

3,478

Full-time employees

7,572

8,459

7,755

4,232

2,995

Men

6,497

7,248

6,550

3,473

2,359

714

969

965

390

229

30s

1,954

2,066

1,878

800

480

40s

2,048

2,302

1,953

1,025

680

50s or older

1,781

1,911

1,754

1,258

970

1,075

1,211

1205

759

636

234

302

300

132

86

30s

446

472

443

254

219

40s

325

20s and younger

Women
20s and younger

359

370

272

229

50s or older
Excluding full-time employees

70

78

92

101

102

672

783

795

543

483

Men

373

454

471

252

234

8

9

5

38

35

30s

29

29

27

58

55

40s

42

37

32

73

76

50s or older

294

379

407

83

68

299

329

324

291

249
26

20s and younger

Women

18

22

20

31

30s

90

99

89

58

49

40s

110

129

123

107

94

50s or older

81

79

92

95

80

Overall Japan Subsidiaries *1

5,819

6,156

6,333

8,792

9,379

Full-time employees

4,048

4,257

4,417

6,808

6,854

Men

2,724

2,840

2,902

4,866

4,910

769

833

835

1,169

1,128

30s

855

889

891

1,455

1,502

40s

670

663

679

1,264

1,325

50s or older

430

455

497

978

955

1,324

1,417

1515

1,942

1,944

583

612

632

729

734

30s

400

426

455

632

620

40s

257

275

317

435

435

20s and younger

20s and younger

Women
20s and younger

50s or older
Excluding full-time employees

84

104

111

146

155

1,771

1,899

1,916

1,984

2,525

Men

529

579

612

1,176

1,394

188

205

206

229

284

30s

173

176

181

339

500

40s

64

86

97

289

324

20s and younger

104

112

128

319

286

1,242

1,320

1,304

808

1,131

50s or older
Women

239

247

232

146

181

30s

440

453

441

280

410

40s

387

419

416

266

383

50s or older

176

201

215

116

157

20s and younger*1 In FY2022, 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 Logitex, Olympus-Supportmate, AVS. Please refer to each year's
report for the number of companies and company names for other years）

Number of foreign employees
FY2018FY2019FY2020

FY2021

FY202275

Olympus Corporation

39

52

55

35

40

26

30

32

17

24

13

22

23

18

16

27

20

16

17

35

Men

11

14

6

10

22

Women

16

6

10

7

13

Men
Women
Overall Japan Subsidiaries

Percentage of employees with disabilit

FY2018Japan

FY20192

FY20202.3

FY2021
2.33

FY20222.63

2.58*2 Eight special-purpose subsidiaries (Olympus, Olympus Medical Systems, Olympus Medical Science Sales, Nagano Olympus, Aomori Olympus, Shirakawa
Olympus, Aizu Olympus, Olympus- Supportmate)

Number of employees withdisabilities (persons)

FY2018FY2019Olympus Corporation

171

Overall Japan Subsidiaries

154

Number of reemployed retired workers

FY2018FY2020118
ーFY2019FY2021

FY2022

95

106

167

187

FY2020

FY2021274

ーFY2022Olympus Corporation

275

100

381

289

Overall Japan Subsidiaries

122

87

124

165

157

ー

*3 Number of reemployed retirees.

Number of employees taking
childcare leaves (persons)
FY2018Olympus Corporation
Men
Women
Overall Japan Subsidiaries
Men
Women

FY2019FY2020

FY2021

FY2022

80

156

146

124

109

7

13

21

29

28

73

143

125

95

81

122

163

162

237

325

3

2

9

35

62

119

161

132

202

263

Work-at-home system users*4 *5(persons)
FY2018Olympus Corporation

FY2019FY2020

FY2021

FY2022

118

162

828

4,775

3,478

8

17

432

3725

2,593

110

145

396

1,050

885

5

102

272

6,007

6,974

Men

1

52

182

4537

5,077

Women

4

50

90

1,470

1,897

Men
Women
Overall Japan Subsidiaries*4 Individual basis (not total number of people)*5 Measures to prevent the spread of COVID-19 and work restriction were implemented this fiscal year, and so many employees used the work-at-home systemtemporarily.

Average overtime hours (hours/fiscal y
FY2018FY2019FY2020

FY2021

FY2022Olympus Corporation

183

185.3

141.4

78.9

94.8

Overall Japan Subsidiaries

111

215.2

121

71.9

68.0

Average number of paid holidays actually taken (days/f
FY2018FY2019FY2020

FY2021

FY2022Olympus Corporation

13

12.9

11.9

11.4

12.4

Overall Japan Subsidiaries

12

11.2

11.4

10.4

11

Managers
Number of managers (persons)
6*7

Olympus Corporation*

FY2018ー

FY20191,998

FY20201,707

FY2021
1,089

FY2022
898
76

ー

Men

ー

Women

1,929

1,653

1,033

49

54

56

62

278

260

595

696

276

258

581

676

2

2

14

20

ー

*8

Overall Japan Subsidiaries
Men

ー
ー

Women

836

Rate of women in management roles
FY2018Japan

FY2019*6*7*8FY20202.2

ーFY2021
2.8

FY2022
4.2

5.1*6 Figures for fiscal year 2022 include managers of Olympus Corporation as of the end of March 2022. Prior to fiscal year 2021, figures are based on thedefinition of each fiscal year.
*7 Figures include employees who have been seconded to Olympus Corporation while employees from Olympus Corporation seconded to other companies
have been excluded.
*8 Figures for fiscal year 2022 include managers as of the end of March 2022. Prior to fiscal year 2021, figures are based on the definition of each fiscal year.

Recruitment
Number of newly employed (persons)
FY2018FY2019FY2020

FY2021

FY2022Olympus Corporation

789

576

397

53

145

Overall Japan Subsidiaries

662

603

499

460

281

Rate of newly employed*12
Olympus Corporation
Men

FY2018FY201930s and younger

40s or older

Women 30s and younger

40s or older
Overall Japan Subsidiaries
Men

30s and younger

40s or older

Women 30s and younger
40s or older

FY2020

FY2021

FY2022

10

7

4.6

1.1

4.2

16

10

6.8

1.6

10.5

6

3

1.5

0.4

1.5

18

13

11.3

2.5

6.6

3

9

14.3

2.1

1.8

16

9.8

7.9

5.2

3.4

20

11.9

12.5

7.3

5.2

2

6.6

1.9

0.4

0.6

25

11.3

20.1

9.4

5.3

21

6.9

10.3

5.1

1.4

*12 Includes both new graduates and midcareer employment

Job retention rate and Number of staff leaving
Job retention rate (Only full-time employees)*13（%）
FY2018Olympus Corporation
Men
Women
Overall Japan Subsidiaries

FY2019FY2022

91

87.0

82.5

93

97

93

88.5

89.3

91

88

87

82.4

69.2

84.5

78.6

89.3

88.8

87.3

85

90.9

91.0

81.3

71

87.5

86.5

ー
ー

Women

FY202195ーMen

FY202093*13 The percentage of those who remain in the company as of March 31, 2022, out of those employed in FY2020 (including new graduates and mid-career emplo

Job retention rate for new graduates※1

FY2018Olympus Corporationー

FY201995.6

ーOverall Japan Subsidiaries

FY2020ー

FY2021

FY2022

96

95.6

91.6

93.2

90.8

93.0

*14 The percentage of those who remains in the company at March 31, 2022 out of those employed as new graduates in April 2019.

Number of staff leaving （persons）
FY2018Olympus Corporation
Of which number ofvoluntary leaversMen
30s and younger
40s or older

Women 30s and younger
40s or older

FY2019FY2020

FY2021

FY2022

216

413

274

628

1,389

104

123

140

275

230

41

148

64

41

48

143

89

53

203

135

26

118

17

6

15

6

58

6

25

32
77

Overall Japan Subsidiaries

278

290

176

294

417

Of which number ofvoluntary leavers

211

ー

127

223

260

Men

86

93

60

84

111

30s and younger

40s or older

51

41

15

75

54

72

101

46

44

71

45

55

6

20

24

FY201814.14

FY201914.08

FY202014.17

FY2021
14.41

FY202214.32

FY2018FY2019FY2020

FY2021

FY2022

Women 30s and younger
40s or older

Average number of years of services
Olympus Corporation

Occupational Safety and Health
Number of Industrial Accidents
Global

ー

Japan

64

50

ー

AmericasーーEuropeーー

Asia/Oceania★ Indexes certified by external assurance.

ー

ー

141

121★

56

35★

21★

55

26★

40★

20

47★

37★

10

13★

13★

111★

Number of Lost Time Injuries
FY2018Global

ー

Japan

10

FY2019ーー

Europeーー

Asia/Oceania★ Indexes certified by external assurance.

FY20206ーAmericasーー

FY2021

FY2022

38

28★

4

2★

2★

20

4★

12★

6

16★

13★

8

6★

4★

31★

Lost Time Injuries (of one day or more) Frequency
FY2018FY2019Global

ー

Japan

0.34

0.2

ー

ー

ー

Americas
Europeーー

Asia/Oceaniaー

FY2020ーー

FY2021

FY2022

0.52★

0.66★

0.13

0.08★

0.09★

1.93

0.39★

1.13★

1.07

2.04★

1.73★

0.77

0.62★

0.72★

All industries (Japan)*16

1.66

1.83

1.80

1.95★

2.09

Manufacturing industry (Japan)*16

1.02

1.20

1.20

1.21★

1.31

★ Indexes certified by external assurance.

*15 Lost time injury frequency rate = number of lost time accidents ÷ (average number of employees for that fiscal term × work hours) × 1,000,000*16 Survey on Industrial Accidents, Ministry of Health, Labour and Welfare

Occupational Illness Frequency Rate*17［OIFR］
FY2018Japan

FY20190.07

FY20200.07

FY20210

FY20220

0*17 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*18 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 Fatal Industrial Accidents
FY2018GlobalJapan
Americas
EuropeAsia/Oceania★ Indexes certified by external assurance.

FY20190ーーーー

FY20201ーーーー

FY2021

FY2022

0

0★

0★

0

0★

0★

0

0★

0★

0

0★

0★

0

0★

0★

78

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

79

Corporate Governance

Basic Policy for Corporate

Corporate GovernanceCorporate Governance

Governance (PDF: 98.9KB)

Report (As of June 24, 2022)

Structure

The Olympus Group has created the(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.

80

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.
In acting as a global company to address the issues of international society, we are participating in the UN Global Compact, reporting our CSR activities tothem and conducting studies into what we can do to contribute to the Sustainable Development Goals (SDGs).

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
Olympus is sharing the corporate strategies and procurement policy of the Olympus Group with our suppliers.
Once a year, we hold the Supply Chain Policy Meeting with key suppliers extracted from the business condition with us, etc., among approximately 1,000
suppliers for each business in Japan.
In addition, we implemented a reporting system that can be used by suppliers.
Procurement
Compliance

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.
The Olympus top management provides regular opportunities to engage in labor management consultations, both centrally and at individual facilities, such81

as during its twice-annual Central Labor-Management Council with the Olympus Labor Union. Such councils serve as a forum for discussing improvements
in labor conditions and corporate culture reforms.
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.

82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 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 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 is available
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 our 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' 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 thefoundation for our policies and is required to be read, understood and followed by our management team and employees. We are committed to acting inaccordance with 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 themanagement teams and employees with the resources and training they need to do business with integrity, treat customers, suppliers, third-party business
partners fairly, and report concerns when they arise.
Olympus has appointed a Global Chief Compliance Officer (CCO), who leads global collaboration across the Company to continuously assess whether
business activities are consistent with applicable legal requirements and Company policies and procedures. Our CCO reports regularly to the Chief
Executive Officer and the Audit Committee of our Board of Directors and more frequently as needed. We have also established a Global Compliance
Leadership Team (GCLT), which is composed of the CCO as head of the committee, Regional Compliance Officers (RCOs), and the head of Global Planningand Operations, to implement compliance-related policies and measures globally, understand regional situations and challenges, and carry out necessary
corrective measures. The GCLT meets on a quarterly basis and more frequently as needed.
Policies and measures confirmed and directed by the GCLT are applied to each region by RCOs. In addition, compliance circumstances and issues
throughout the Olympus Group identified by the GCLT and RCOs are reported by the CCO on a regular basis to the Audit Committee and are discussed at
Board of Directors' meetings as needed.

Compliance Management System (As of April, 2022)

83

Initiatives

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

Strengthening Compliance with Key Laws and Regulations
Jurisdiction

Name of Law/Regulation, etc.

Laws, regulations and guidelines

Laws and regulations relating to anti-bribery such as Unfair Competition Prevention Act, etc.

in JapanNational 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
the Japan 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 Labor Standards Act/Industrial Safety and Health Act, etc.
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

Foreign Corrupt Practices Act (FCPA, United States)

in 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 internationalcommercial 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

Reporting System
The Olympus Group is committed to comply with the laws and industrial guidelines as well as acting based on high ethical standards. As a system to support
its practice, we implemented a reporting system that can be used by both our employees and suppliers.
In April 2019, we established the Integrity Line, for the Olympus organization worldwide.

84

Whistleblowing System

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 is committed to our culture of integrity and provides a safe and open workplace for all employees to ask questions and raise concerns. We provide
a global reporting system, known as the Olympus Integrity Line, which is available to all Olympus employees, third parties, and the general public who may
wish to report a concern. The Olympus Integrity Line is operated by an independent third party and is available 24 hours a day, seven days a week, 365 daysa year, in multiple languages. The Global Compliance function expanded efforts to promote our Integrity Line and Disclosure Program. Olympus does nottolerate retaliation against individuals who report concerns in good faith.
The Global Compliance function manages and monitors the Integrity Line, and refers matters for review, as appropriate, to other functions, such as Human
Resources, depending on the nature of the concern. The Integrity Line system is continuously assessed and improved. In 2020, enhancements were
implemented to improve reporting and trending capabilities, which reporting is designed to support employee confidence that speaking-up and raisingconcerns can make a difference in their organizations.
Website for the Olympus Integrity Line

Facilitating an Environment That Encourages the Use of the Integrity Line
Additionally, the Global Compliance function, at the direction of the Global Chief Compliance Officer and the Regional Compliance Officers, raises awarenessof this system through consistent messaging in the Global Code of Conduct, and related e-learning programs and communications. During Fiscal Year 2022
Olympus received 347 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 and education for
individuals/groups, issuance of warning to individuals, and in serious cases, up to termination, in accordance with local regulations. In FY2022, 55.8% ofclosed reports were substantiated following review.
Specifically, with the aim of enhancing the internal reporting system and increasing its trustworthiness, we conduct systematic training of internal reporting
system supervisors at Olympus and its subsidiaries.

Compliance Education
In order to raise compliance awareness and promote an understanding of important laws and internal rules, as well as to ensure consistent compliance withthem, the Global Compliance function strives continually to enhance compliance education programming. By example, in Japan, the Compliance Promotion
Department conducts education programs for various individuals using a variety of tools, course participants and training methods in accordance with thecharacteristics of applicable laws. At the subsidiaries outside Japan, the Regional Compliance division undertakes compliance education at each regional
headquarters according to its annual plan.

Major Results in Compliance Education (Olympus and its Japan subsidiaries)
Category
GeneralTargetAll employees

MethodE-learning and

Description
Education on compliance helplinegroup training

Results
Frequency of program: 1
Number of participants: 13,527

Education in

Selected

E-learning and

Education on compliance helpline

Frequency of program: 7

Important Laws

employees

group training

Provide more detailed education

Total number of participants:

programs to departments and81,204and Regulations

supervisors that are deeply involved withkey laws and regulations related to
management
Rank-SpecificPeople at specificEducation

ranks

Group training

Educational programs required forFrequency of program: As

management and executive personnel,

needed in accordance with theemployees who have been promoted,

plan

and new employees

85

CategoryTarget

MethodDescription

Results

Messages distributed from the President,

Message from the CCO

Seniorexecutives, and the CCO.

Frequency of program: 1

Management(CCO messages are sent out during(October)

Messages fromAll employees

Intranet

Compliance Month (October))

86

Tax

Basic Approach and Policy
We established and adhere the Olympus Group Tax Policy based on our corporate philosophy and Olympus Global Code of Conduct, in order to undertakeand maintain appropriate tax procedures.

Olympus Group Tax Policy
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 indetail below.

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 arequirement to do 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 of Group 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 businessdecisions 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 aretaken 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
be managed. Olympus has a conservative approach to tax risks and seeks to mitigate tax risks as far as possible. Where there is uncertainty as tothe application 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 aroundus, 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
and interest,

87

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.
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 aroundthe 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 for early 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
scheme without economic reason for tax avoidance. Olympus maintains and follows a transfer pricing policy that is based on OECD Transfer
Pricing Guidelines and the 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 the principle that profits should accrue where economic value is created and that tax follows business reality and isunderpinned 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 be clearly defined, or where alternative approaches may result in differing tax outcomes. The Group uses its best judgement in determining theappropriate course of action, using available reliefs and incentives where possible for tax cost optimization.

88

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. Formulated in June 2012, the Insider Trading Prohibition Regulations clearly forbid use of undisclosed information gained throughactivities related to trading in stocks, and continuous education and training about these regulations is provided 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 FY2022, 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 FY2022, same as past years.

Security Export Control and Appropriate Import Declaration
The Olympus Group works in compliance with security export control regulations around the world in order to contribute international peace and safety. In
Japan, we set up an export control system that conforms to the Compliance Programs designated by the Ministry of Economy, Trade and Industry. Since
2007, we have certified as an Authorized Economic Operator (AEO)* by Japan Customs and received preferential treatment as a company with superior
export controls. To maintain this system, we renewed the internal training system in FY2022. While conducting basic training programs to cover nearly all
executives and employees in Japan, we also continued to provide specialized training programs covering import-export transaction based on employees'
degree of involvement in such work.
On the other side, paying the appropriate tax for imported goods is also an important area of responsibility as a business. Therefore, as a general rule with89

respect to products and parts procured from overseas, it is assumed that the import control department of Olympus and its Japan subsidiaries will haveassessed the import declaration price, which forms the basis of the tax payment, prior to the placement of the order from FY 2018. Such activities for
Olympus and its Japan subsidiaries continued in FY2022 to prevent import declarations with inappropriate prices and revisions to customs declarations.
* AEO (Authorized Economic Operator):
A program that offers relaxed or simplified custom processes to operators certified as having sufficient security and legal compliance systems in place for managing shipments, inorder to ensure both security and smooth operations in international distribution. In Japan, the program is certified by Japan Customs.

Implementation Status of Training Designed to Maintain Security Export Control and Appropriate Import
Declaration (Olympus and its Japan subsidiaries/FY2022)
TargetAim/Description of Training

Participants

Departments involved in AEO (authorized

Obligations of AEO providers and sharing of accident

exporter declaration)cases.

150

Departments responsible for import-export

Obligations of AEO providers and sharing of accident

transaction as a main task

cases.

Departments responsible for import-export

Internal operation of import-export control transactions,

Export: 1,852

transaction as a supplementary task (import-

and contacts for inquiry (e-learning program).

Import: 329

Nearly all directors and employees working

Basic awareness of import-export controls (e-learning

10,355in Japan (including subsidiaries)

program).

92

export system users)

90

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.

91

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. Not only 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 GovernanceFor the effectiveness of security measures, companywide approach is crucial and thus clear management involvement and leadership is necessary. For thispurpose, our Chief Administrative Officer (CAO)*1 owes accountability for information security, and the Chief Information Security Officer (CISO) and a
dedicated organization directly under the CAO are responsible for the group-wide risk management of information security and the formulation andimplementation of strategies based on that risk management. The CAO and the CISO report to the Board of Directors on the status of information security forthe entire Olympus Group on a regular basis*2 and as needed in response to changes in the environment, and the Board of Directors supervises overall
execution regarding information security.
In terms of the 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 of both effectiveness and efficiency: the Governance Layer, which oversees the formulationand execution of Group-wide information security strategies; the Management/CoE Layer, which oversees the formulation and execution of plans within eachfunction and department based on the formulated strategies; and the Execution Layer, which is responsible for execution within each function anddepartment.
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 forpromoting 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 on Compliance, please refer to this page.)
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, etc. 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 anddepartment 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.

92

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 management decisions on group-wide basis are appropriately made. Therefore, in addition to IT-SIRT in each region and PSIRT that are
responsible for rapid incident containment and recovery, we are working to build a Global SIRT structure that supports collaboration among the regions andfunctions/departments, coordination with related organizations, and decision-making by the executive management team.

Number of Information Security Incidents and Breaches*3
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.

FY202

FY202

FY202

0

1

2

Number of information security breaches or other cybersecurity incidents

0

0

4

Number of information security breaches related to leaks of customers' personal information

0

0

4

Number of customers affected by the company's data breach

0

0

-

Amount of penalties / fees paid in connection with information security breaches or other cybersecurity

0

0

0

Item

incidents

Related Corporate News
Investigating potential cybersecurity incident affecting limited areas of our EMEA IT system (September 11, 2021)
Update: Olympus Investigation Into Cybersecurity Incident Ongoing (September 14, 2021)
Investigating potential cybersecurity incident affecting our IT system in the Americas (October 12, 2021)
Update: Investigation into cybersecurity incident ongoing (October 19, 2021)
Update about cybersecurity incident in the U.S. – systems restored (November 16, 2021)

Related Information
93

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 current CAO has a diverse background that includes experience in the information security and cybersecurity field, such as overseeing project management of IT systeminstallations and supervising IT security risk assessments.
*2 Regular reports are made to the Group Executive Committee on a quarterly basis and to the Board of Directors on an annual basis.
*3 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 "-".

94

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

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).

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,
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.

95

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.
As for the global spread of COVID-19, The Olympus Group strives for thorough infection prevention measures and has set measures such as maintaining
physical distance and wearing masks in the workplace, ventilation of facilities and self-restraint on business trips and events. In addition, a global task force
will be established, if necessary, to ensure business continuity.
We have continued to implement training, demonstrations and seminars online for customers, and we strive to provide solutions responding to the newenvironment. In Japan, since February 2020, Central Task Force led by the director in charge of Japan headquarters, set a ceiling on the percentage of
employees who come into the office, and established guidelines that incorporate the "new lifestyle” to create an environment in which employees can workwith peace of mind. In addition, Olympus Group employees have been vaccinated against the novel coronavirus in their workplaces since July 2021. We also
aim to contribute to the early containment of COVID-19 in Japan by proceeding with the third round of vaccinations at workplaces starting in April 2022.
Further, we revised our business continuity plans (BCPs), which conventionally focused on natural disasters, such as earthquakes and storms, to include
pandemics, as represented by COVID-19. We are also building viable BCPs with even more focus on the entire value chain. As a part of this effort, we areconstantly implementing our disaster prevention and reduction activities such as by formulating the "BCP/BCM Development Guideline". We provide training
and drills to employees to improve effectiveness of our BCPs.
We continuously implement every possible measure to keep our products and services available to our customers, giving the highest priority to the healthand safety of our employees, medical professionals, patients, and communities.

96

Governance Data

Updated October 5, 2022

*For details, please refer to the Annual Securities Report and Integrated Report for each period.
>Annual Securities Report (only in Japanese)>Integrated Report

Corporate Governance
Composition of Directors

FY2018Composition of Directors（Person

FY2019FY2020

FY2021

FY2022

15

15

15

12

11

Outside

8

8

10

9

8

Internal

7

7

5

3

3

Female

0

0

0

0

1

Foreign National

0

0

3

3

3

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

Director Remuneration:Total compensation by type (¥ million)
FY2018

Director

FY2019FY2020

FY2021

FY2022

Internal

486

433

468

717

919

Outside

110

110

131

149

138

*Transitioned to a company with a Nominating Committee, etc., effective from June 2019. Director remuneration for FY2018 and FY201

97

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 (PDF: 120.7KB)

98

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.16 ( April 2022 )Japanese (PDF: 1.4MB)
English (PDF: 964.8KB)
Chinese (PDF: 1.6MB)

99

地球温暖化対策計画書
東京都の地球温暖化対策制度に基づき、技術開発センター石川の地球温暖化対策計画書を公開いたします。

This page is only in Japanese.

地球温暖化対策計画書2021
地球温暖化対策計画書2020
地球温暖化対策計画書2019
地球温暖化対策計画書2018
地球温暖化対策計画書2017

100

Status of Acquiring ISO14001 Certification in Olympus Group

Since 1998, the Olympus Group has acquired ISO14001 Certification at its main manufacturing facilities and at its distribution and sales subsidiaries on asite-by-site basis. We started a unified environmental management system for 12 subsidiaries in Japan and Asia in 2018, aiming to strengthen environmental
governance and improve environmental management efficiency, and obtained ISO14001 multi-site certification* in August 2020.
* Integrating multiple ISO 14001 certification at several sites into a single scope of certification.

ISO14001 Multisite Certification
ISO standard number: ISO14001:2015

Certificate number: JP19/071613

Company name: Olympus Group

Scope of registration: Medical business: Design, development, manufacture, sales and incidental services (repair, maintenance and customer
training) for gastrointestinal endoscopes, surgical endoscopes, endoscopic instruments, ultrasonicendoscopes and accessories

Scientific Solutions : Design, development, manufacture, sales and incidental services (repair, maintenance and customer
Businesstraining) for biological microscopes, industrial microscopes, industrial endoscopes, non-destructive
inspection equipment and accessories

Biomaterials: Design, development and manufacture of artificial bone, artificial skin and accessories

Business

Corporate nameJapan

Olympus Corporation

Olympus Medical Systems Corporation

Date of certification acquisition
Headquarters (Shinjuku) *1

August 2020

Tokyo Facility (Sasazuka) *2

August 2020

Sagamihara Distribution Center

November 2003 *3

Ishikawa Facility

March 2000

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

101

Evident Corporation

Hachioji Facility

February 2018 *4

Nagano Facility

February 1998 *4
February 1998 *4

Evident Nagano Corporation

Olympus Terumo Biomaterials Corp.

Mishima Plant

August 2020

R&D Center
Asia

Olympus (GuangZhou) Industrial Co., Ltd.

October 2004

Olympus Trading (Shanghai) Limited

February 2012

Olympus Vietnam Co.,Ltd.

April 2013

*1 The scope of registration includes the EHS division of Headquarters (Shinjuku) and its medical business sales management functions.
*2 The scope of registration includes the administrative functions at Sasazuka Facility in Tokyo.
*3 Acquired certification as Olympus Logitex before March 2022
*4 Acquired certification as part of Olympus Corporation and Nagano Olympus Corporation before March 2022

ISO14001 Certification

Corporate nameAmericas

Date of certification acquisition
Olympus Surgical Technologies America National Service Center West

December 2005

Olympus Corporation of the America

September 2019

Center Valley Pennsylvania Regional Headquarters
Breinigsville Pennsylvania Distribution Center
Olympus Surgical Technologies America

September 2019

Bartlett Tennessee Manufacturing Facility
Brooklyn Park Minnesota Manufacturing Facility
Redmond Washington Manufacturing Facility
EuropeOlympus Winter & Ibe GmbHMay 2001

Hamburg Manufacturing Facility
Teltow (Berlin) Manufacturing Facility
KeyMed (Medical & Industrial Equipment) Ltd.

March 2002

Southend-on-Sea Manufacturing Facility
Bolton Manufacturing Facility

Oceania

Algram Group Ltd

January 2007

Olympus Iberia S.A.U.

September 2018

Olympus Australia Pty Ltd

August 2017

Olympus New Zealand Limited

August 2017

* For inquiries regarding the certificate, please contact each company.

As of July, 2022

102

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

103

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

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

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Olympus Group Quality Policy

The Olympus Group will pursue value that is genuinely wanted by our customers, act with the utmost focus on quality and willsustainably deliver safe products and services that are useful to society.
To this end, the Olympus Group will continue to maintain and improve the effectiveness of its quality management system in full
conformance with regulatory requirements.

Guiding principles for ensuring the utmost focus on quality

1. Customer-centric approach
We will keep our customers and patients in mind, fully focus on their safety and need, and act in a sincere manner.
2. Ensuring compliance with laws, regulations and social norms
We will strive to fully and correctly understand and comply with all relevant laws, regulations and social norms, as this understanding andcompliance forms the foundation for the delivery of safe, reliable products and services to our customers and patients.
3. Constant quest for quality
We will never be content with the status quo when it comes to the quality of all relevant business processes, which will boost the safety and qualityof our products and services.
4. Appropriate communication
We will provide useful and accurate information in an appropriate manner to our customers and patients in order to ensure their safety and peace of
mind.

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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.

107Request to Suppliers

Olympus utilises various materials and services necessary for its production activities from corporations in many countries and regions around the world. We
would like all suppliers to Olympus to note and follow the important points described below.

1. Compliance with Laws, Regulations, and Social Norms
Olympus aims to provide its 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 including laws, standards, or conventions
concerning the prohibition of forced labor and child labor, prohibition of discrimination based on unreasonable grounds, anti-corruption, laws regarding
appropriate wages and working hours, and maintenance of safe and clean working environments), carry out sound corporate activities and behave in amanner that is in accordance with laws, regulations, and social norms. As noted below, we would therefore expect our suppliers to do the same in thosecountries and regions where you operate and to execute the appropriate management necessary to comply with this requirement.

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

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

4. Ensuring Quality and Safety, Delivery, Fair Pricing, and Stable Supply
Products, parts, and raw materials provided by our suppliers have an enormous impact on Olympus. 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 takes the protection of the global environment as one of its critical management tasks, and strives to contribute to the development of a sustainable
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 would like you to promote the following biodiversity and otherenvironmental 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
With respect to trade with Olympus, suppliers can access and obtain Olympus' corporate information, such as its know-how or classified information, as wellas the classified or private information Olympus has on others. You are requested to strictly safeguard the information you have accessed through yourbusiness dealings with us to prevent any leak or disclosure to unauthorized personnel or outside parties. Suppliers are also asked to implement measures tocombat 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
Companies must grow sustainably with society. To this end, we ask that our suppliers determine what is feasible for each of you, and be proactive in yourinitiatives to contribute to both the global and your local communities. These initiatives may involve contributions using your primary business ortechnologies, non-monetary contributions utilizing your facilities or personnel, monetary donations, and others.

8. Promoting CSR Activities Internally and Among Suppliers
We ask that our suppliers have a correct understanding of the importance of CSR, and work to promote CSR activities both internally and among your own
suppliers.
Request to Suppliers (English version) (PDF: 248.1KB)
Request to Suppliers (Chinese version) (PDF: 276.6KB)

109

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.

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Provide genderless manager training programs.
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.

111

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

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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)
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)

113

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 partnership114

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.

115

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.

116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.

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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 independence
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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
3119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
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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 the5121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

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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:简한국어 (PDF: 2.2MB)

Chinese (Simplified) | 中文（ 体） (PDF: 2.5MB)

Korean |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)

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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

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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 |简한국어 (PDF: 7.4MB)

Chinese (Simplified) | 中文（ 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)

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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.
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.

126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. Olympus maintains and follows a transfer pricing policy that is based on OECD Transfer
Pricing Guidelines and the Base Erosion and Profit Shifting (“BEPS”) Action Plan which is the international framework to prevent cross-border tax avoidance
activities. In particular, Olympus adhere to the principle that profits should accrue where economic value is created and that tax follows business reality andis 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, 2015

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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 here133

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.

134

Internal Control System

Basic Policy on the Internal Control System
Our basic policy on the internal control system is as follows:
Revised date : March 25, 2022 (PDF: 78.2KB)

135

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.

136

Handling of Personal Information

Issue date 1 April 2022
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.

Olympus Group personal Information protection policy

Public Announcement Pursuant to the Act on the Protection of Personal
Information
Olympus hereby publishes the following information pursuant to the Act on the Protection of Personal Information.

Personal information handling business operator
Utilization purpose of Personal Information

Provision of personal information to third parties

Joint utilization of personal information
Security control measures for personal information

Disclosure etc. of personal information
Complaints regarding the handling of Personal Information

Anonymously processed information

Other

137

LRQA Independent Assurance Statement
Relating to Olympus Corporation’s Environmental and Social Data within its
Sustainability Page for the fiscal year 2022
This Assurance Statement has been prepared for Olympus Corporation in accordance with our contract.

Terms of Engagement
LRQA Limited (“LRQA”) was commissioned by Olympus Corporation (“the Company”) to provide independent
assurance on its environmental and social data within its Sustainability Page (“the report”) for the fiscal year 2022,
that is, from 1 April 2021 to 31 March 2022, against the assurance criteria below to a limited level of assurance and at
the materiality of the professional judgement of the verifier using ISAE 3000 (Revised) and ISO 14064-3:2019 forgreenhouse gas (“GHG”) emissions.
Our assurance engagement covered the Company’s and its consolidated subsidiaries’ operations and activities inJapan and overseas and specifically the following requirements:• Verifying conformance with the Company’s reporting methodologies for the selected datasets:• Evaluating the accuracy and reliability of data for only the selected indicators listed below: 1
Environmental data2• Energy consumption 3 (MWh equivalent)• Scope 1 GHG emissions (tCO2e)• Scope 2 GHG emissions (Location-based and Market-based) (tCO2)• Scope 3 GHG emissions (Category 2-7, 12) (tCO2e)• Water consumption volume (Piped water and Ground water) (m3) 3• Waste generated (tonnes) 3
Social• LTIFR 3• OIFR 3• Number of Occupational Incidents 3• Fatalities 3
Our assurance engagement excluded the other data and information of the Company’s suppliers, contractors andany third-parties mentioned in the report.
LRQA’s responsibility is only to the Company. LRQA disclaims any liability or responsibility to others as explained in
the end footnote. the Company’s responsibility is for collecting, aggregating, analysing and presenting all the dataand information within the Report and for maintaining effective internal controls over the systems from which theReport is derived. Ultimately, the Report has been approved by, and remains the responsibility of the Company.

LRQA’s Opinion
Based on LRQA’s approach nothing has come to our attention that would cause us to believe that the Company has
not, in all material respects:• Met the requirements of the criteria listed above• Disclosed accurate and reliable environmental and social data
The opinion expressed is formed on the basis of a limited level of assurance4 and at the materiality of the professional
judgement of the verifier.
1

LRQA undertook a limited assurance engagement of the environmental and social data marked with ★ within the Sustainability page for the fiscal
year 2022.
2
GHG quantification is subject to inherent uncertainty.
3
The scope is covered the breakdown of each selected indicators.
4
The extent of evidence-gathering for a limited assurance engagement is less than for a reasonable assurance engagement. Limited assurance
engagements focus on aggregated data rather than physically checking source data at sites. Consequently, the level of assurance obtained in alimited assurance engagement is lower than the assurance that would have been obtained had a reasonable assurance engagement been
performed.
Page 1 of 2138

LRQA’s Approach
LRQA’s assurance engagements are carried out in accordance with ISAE 3000 (Revised) and ISO 14064-3:2019. The
following tasks were undertaken as part of the evidence gathering process for this assurance engagement:• Auditing the Company’s data management systems to confirm that there were no significant errors, omissions
or misstatements in the report. We did this by reviewing the effectiveness of data handling procedures,instructions and systems, including those for internal verification.
• Interviewing with those key people responsible for compiling the data and drafting the report.
• Sampling datasets and traced activity data back to aggregated levels;• Verifying the historical environmental / social data and records for the fiscal year 2022; and• Visiting Olympus Corporation Utsugi Facility and Head Office to confirm the data collection processes andrecord management practices.
• By implementing the Company’s “No Visitor” Policy due to the global infection spread of COVID-19, conducting
the remote verification to Olympus Corporation Nagano Facility Ina for confirming the effectiveness of its data
management systems via emails and Microsoft Teams.

Observations
In order to improve the accuracy of environmental and social data, it is expected that more effective data
management will be established at each site (especially overseas).

LRQA’s Standards, Competence and Independence
LRQA implements and maintains a comprehensive management system that meets accreditation requirements for
ISO 14065 Greenhouse gases – Requirements for greenhouse gas validation and verification bodies for use inaccreditation or other forms of recognition and ISO/IEC 17021-1 Conformity assessment – Requirements for bodies
providing audit and certification of management systems – Part1: Requirements that are at least as demanding as
the requirements of the International Standard on Quality Control 1 and comply with the Code of Ethics forProfessional Accountants issued by the International Ethics Standards Board for Accountants.
LRQA ensures the selection of appropriately qualified individuals based on their qualifications, training andexperience. The outcome of all verification and certification assessments is then internally reviewed by senior
management to ensure that the approach applied is rigorous and transparent.
This is the only work undertaken by LRQA for Company and as such does not compromise our independence or
impartiality.
SignedDated: 28 June 2022

Norihiko Kinoshita
LRQA Lead Verifier
On behalf of LRQA Limited
10th Floor, Queen's Tower A, 2-3-1 Minatomirai, Nishi-ku, Yokohama, JAPANLRQA reference: YKA4005278
LRQA, its affiliates and subsidiaries, and their respective officers, employees or agents are, individually and collectively, referred to in this clauseas 'LRQA'. LRQA assumes no responsibility and shall not be liable to any person for any loss, damage or expense caused by reliance on theinformation or advice in this document or howsoever provided, unless that person has signed a contract with the relevant LRQA entity for theprovision of this information or advice and in that case any responsibility or liability is exclusively on the terms and conditions set out in that
contract.
The English version of this Assurance Statement is the only valid version. LRQA assumes no responsibility for versions translated into otherlanguages.
This Assurance Statement is only valid when published with the report to which it refers. It may only be reproduced in its entirety.
Copyright © LRQA, 2022.

Page 2 of 2

139

GRI Content Index

The following shows the relationship between the information reported on the "Sustainability Page" (updated in July 2022, reporting period: April 1, 2021 March 31, 2022) and other information on our web page and the GRI Sustainability Reporting Standards.

Indicator

Item

102 GENERAL DISCLOSURESGRI 102: General Disclosures 2016
1 Organizational profile
102-1

Name of the organization

Consolidated Company Outline

102-2

Activities, brands, products, and services

Our Business Fields

102-3

Location of headquarters

Consolidated Company Outline

102-4

Location of operations

Worldwide Office Locations

102-5

Ownership and legal form

Consolidated Company Outline (Company Name)

102-6

Markets served

Consolidated Company Outline > Revenue by Region

102-7

Scale of the organization

Consolidated Company Outline (Consolidated Headcount)
Worldwide Office Locations
Financial Results (Fiscal Year Ended Mar. 31, 2022)
ESG Data

102-8

Information on employees and other workers

ESG Data

102-9

Supply chain

Procurement102-10Significant changes to the organization and its supply chain-

102-11

Precautionary Principle or approach

Environmental Policy and Strategy
Risk Management System102-12External initiatives

Environmental Policy and Strategy > Response to Climate Change
Communication with Stakeholders > Basic Approach and Policy
Human Rights > Basic Approach and Policy
Participating in External Initiatives

102-13

Membership of associations

Procurement > System, Mechanisms and Initiatives > Response toConflict Minerals
Reduce Environmental Impact > Energy/Atmospheric Release

2 Strategy
102-14

Statement from senior decision- maker

Message from ESG Officer

102-15Key impacts, risks, and opportunities

Olympus Group ESG
Environmental Policy and Strategy
Risk Management System

3 Ethics and integrity
102-16

Values, principles, standards, and norms of behavior

Olympus Group Corporate Philosophy
Olympus Global Code of Conduct102-17

Mechanisms for advice and concerns about ethics

Compliance > Promotion Structure140

4 Governance102-18Governance structure

Corporate Governance Structure
Corporate Governance Report (PDF: 1.3MB)

102-19Delegating authority

Olympus Group ESG
Environmental Policy and Strategy > Environmental Management
Structure
Corporate Governance Structure102-20Executive-level responsibility for economic,
environmental,and social topics

Olympus Group ESG

102-21

Consulting stakeholders on economic, environmental,andsocial topics

Olympus Group ESG

102-22Composition of the highest governance body and its
committees

Corporate Governance Structure102-23Chair of the highest governance body

Corporate Governance > Corporate Governance Structure102-24

Nominating and selecting the highest governance body

Board of Directors

Directors and Executive Officers

Corporate Governance Report (PDF: 1.3MB)

Basic Policy on Corporate Governance (PDF: 98.9KB)

102-25

Conflicts of interest

Corporate Governance Report (PDF: 1.3MB)
Notice Regarding the Convocation of the General Meeting of
Shareholders For the Fiscal Year Ended March 31, 2022 (PDF:
367.3KB)

Basic Policy on Corporate Governance (PDF: 98.9KB)

102-26

Role of highest governance body in setting purpose,values,and strategy

CORPORATE GOVERNANCE REPORT (PDF: 1.4MB)

102-27

Collective knowledge of highest governance body-102-28

Evaluating the highest governance body's performance-102-29Identifying and managing economic, environmental, andsocial impacts

Olympus Group ESG > Promotion Structure

Olympus Group ESG

Environmental Policy and Strategy > Systems, Mechanisms andInitiatives
Environmental Policy and Strategy > Environmental Management
Risk Management System
Corporate Governance Report (PDF: 1.3MB)

102-30Effectiveness of risk management processes

Risk Management Structure
Corporate Governance Report (PDF: 1.3MB)
Board of Directors > Evaluation of effectiveness of the Board of
Directors

102-31

Review of economic, environmental, and social topics

Olympus Group ESG > Basic Approach and Policy
Basic Approach and Policy > Systems, Mechanisms and Initiatives> Response to Climate Change

102-32Highest governance body's role in sustainability reporting

Olympus Group ESG > Basic Approach and Policy

102-33

Communicating critical concerns

Risk Management System
Corporate Governance Structure102-34Nature and total number of critical concerns

Risk Management System

102-35

Remuneration policies

Corporate Governance Report (PDF: 1.3MB)
Olympus Group ESG > Promotion Structure
Environment > Environmental Policy and Strategy

141102-36

Process for determining remuneration

102-37

Stakeholders' involvement in remuneration-

102-38Annual total compensation ratio-

102-39Percentage increase in annual total compensation ratio-

102-40

List of stakeholder groups

Communication with Stakeholders

102-41

Collective bargaining agreements

Labor Relations > Initiatives > Labor-Management Consultations

Corporate Governance Report (PDF: 1.3MB)

5 Stakeholder engagement(Japan)102-42

Identifying and selecting stakeholders-

102-43

Approach to stakeholder engagement

Communication with Stakeholders

102-44

Key topics and concerns raised

Communication with Stakeholders

Entities included in the consolidated financial statements

Financial Results (Fiscal Year Ended Mar. 31, 2022)

6 Reporting practice102-45

Editorial Policy
Worldwide Office Locations

102-46

Defining report content and topic Boundaries

Olympus Group ESG
Editorial Policy

102-47

List of material topics

Olympus Group ESG

102-48

Restatements of information

N/A

102-49Changes in reporting

N/A

102-50

Reporting period

Editorial Policy

102-51

Date of most recent report

Editorial Policy

102-52

Reporting cycle

Editorial Policy

102-53

Contact point for questions regarding the report

Editorial Policy

102-54Claims of reporting in accordance with the GRI Standards

Editorial Policy

102-55

GRI content index

GRI Content Index

102-56External assurance

Independent Assurance Statement (PDF: 158.7KB)
External Evaluation

GRI 103: Management Approach 2016
103-1

Explanation of the material topic and its Boundary

Olympus Group ESG

103-2

The management approach and its components

Olympus Group ESG
Environmental Health and Safety Policy
Environment > Environmental Policy and Strategy
Environment > Environmental Policy and Strategy > Mechanisms
and Initiatives > Major Environmental Activity Results in Fiscal 2021
Environment > Environmental Policy and Strategy > Environmental
Management
Environment > Reduce Environmental Impact
Compliance > Basic Approach and Policy
Tax > Olympus Group Tax Policy
Disclosure Policy142Transparency Guidelines > Olympus Group "Transparency
Guideline for the Relation between Corporate Activities and Medical
Institutions and Other Organizations"
Olympus Group Information Security Policy
The Olympus Group Personal Information Protection Policy(Translation)
Risk Management System > Basic Approach and Policy,Promotion
Structure
Olympus Group Quality Policy
Product Responsibility > Basic Approach and Policy
Olympus Group Procurement Policy
Procurement > Basic Approach and Policy
Human Rights Policy
Human Rights > Basic Approach and Policy
Employment > Promotion Structure > Organization of Human
Resource Strategy Promotion (Olympus and its Japan subsidiaries)
Training and Education > Promotion Structure and Systems
Occupational Safety and Health > Promotion Structure andInitiatives,Global Safety and Health Organization
Occupational Safety and Health, Health Management > BasicApproach and Policy
Charitable Donations and Grants Policy
Corporate Citizenship Policy

103-3

Evaluation of the management approach

Olympus Group ESG
Environmental Policy and Strategy > Mechanisms and Initiatives >Major Environmental Activity Results in Fiscal 2021
Environmental Policy and Strategy > Environmental Management >Status of Acquiring ISO14001 Certification in Olympus Group
Reduce Environmental Impact > Basic Approach > Internal (Scope1, 2) Results, Water Use/Wastewater Results
Independent Assurance Statement (PDF: 158.7KB)
Occupational Safety and Health > Promotion Structure andInitiatives
Product Responsibility > Basic Approach and Policy > Quality
Management System
External Evaluation

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

Direct economic value generated and distributed

Financial Results (Fiscal Year Ended Mar. 31, 2022)

201-2

Financial implications and other risks and opportunities due
to climate change

Environmental Policy and Strategy > Mechanisms and Initiatives

201-3

Defined benefit plan obligations and other retirement plans

201-4

Financial assistance received from government

Securities Report (P196/137) (only in Japanese) (PDF: 2.5MB)

Securities Report (P135/170-171) (only in Japanese) (PDF: 2.5MB)

Market PresenceGRI 202: Market Presence 2016
202-1

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

New Graduate Recruitment > Recruitment Information (only inJapanese)
Request to Suppliers
Olympus Global Code of Conduct

202-2

Proportion of senior management hired from the local
community-

Indirect Economic Impacts

143

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

Compliance > Initiatives > Compliance with Laws and Regulations

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

Compliance > Initiatives > Compliance with Laws and Regulations

207-1

Approach to tax

Tax

207-2

Tax governance, control, and risk management

Tax > Olympus Group Tax Policy

207-3

Stakeholder engagement and management of concerns
related to tax

Tax > Olympus Group Tax Policy

207-4

Country-by-country reporting-

Materials used by weight or volume

Reduce Environmental Impact

Tax
GRI 207: Tax 2019

300 Environmental
Materials
GRI 301: Materials 2016
301-1

ESG Data
301-2

Recycled input materials used

-

301-3

Reclaimed products and their packaging materials-

Energy consumption within the organization

Reduce Environmental Impact > Material Balance >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 > Material Balance >ESG Data

302-5

Reductions in energy requirements of products and services-

Interactions with water as a shared resource

Environmental Policy and Strategy > Response to Water Risk

Water
GRI 303: Water 2018
303-1

Reduce Environmental Impact > Basic Approach > Water/Emission144

303-2

Management of water discharge- related impacts

Reduce Environmental Impact > Basic Approach > Water/Emission

303-3

Water withdrawal

Reduce Environmental Impact > Basic Approach > Water/Emission
Environmental Policy and Strategy > Response to Water Risk

303-4

Water discharge

ESG Data
Reduce Environmental Impact > Basic Approach > Water/Emission

303-5

Water consumption

Reduce Environmental Impact > Basic Approach > Water/Emission

304-1

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

-

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 > Basic Approach >Biodiversity
GRI 304: Biodiversity 2016

Emissions
GRI 305: Emissions 2016
305-1

ESG Data

305-2

Energy indirect (Scope2) GHG emissions

Reduce Environmental Impact > Basic Approach >ESG Data

305-3

Other indirect (Scope3) GHG emissions

ESG Data

305-4

GHG emissions intensity

Reduce Environmental Impact > Basic Approach >Energy/Atmospheric Release
ESG Data

305-5

Reduction of GHG emissions

Reduce Environmental Impact > Basic Approach >Energy/Atmospheric Release

305-6

Emissions of ozone-depleting substances (ODS)

-

305-7

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

Reduce Environmental Impact > Basic Approach >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 > Basic Approach > Water
Use/Wastewater Results

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 > Environmental Management >Major Environmental Activity Results in Fiscal 2022

Supplier Environmental Assessment

145

GRI 308: Supplier Environmental Assessment 2016308-1

New suppliers that were screened using environmental
criteria

308-2

Negative environmental impacts in the supply chain andactions taken

Procurement > Basic Approach and Policy

Procurement > System, Mechanisms and Initiatives
Environmental Policy and Strategy > Mechanisms and Initiatives >Long-term targets and measures > Green Procurement

400 Social
Employment
GRI 401: Employment 2016
401-1

New employee hires and employee turnover

Employment > Recruitment in FY2022
ESG Data

401-2

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

Occupational Safety and Health, Health Management

401-3

Parental leave

Diversity and Equal Opportunity > Targets and Achievements Data
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 Health > Promotion Structure andInitiatives > Regional Activities

Hazard identification, risk assessment, and incident
investigation

Occupational Safety and Health > Promotion Structure and403-3

Occupational health services

Occupational Safety and Health, Health Management

403-4

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

-

403-5

Worker training on occupational health and safety

Occupational Safety and Health, Health Management > Employee

403-2

Initiatives > Industral Accident Data

Training,Regional Activities

403-6

Promotion of worker healthOccupational Safety and Health, Health Management

403-7

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

Occupational Safety and Health, Health Management

403-8

Workers covered by an occupational health and safety
management system

Occupational Safety and Health > Promotion Structure andWork-related injuries

Occupational Safety and Health > Promotion Structure and403-9

Initiatives > Global Safety and Health Organization

Initiatives > Industral Accident Data
ESG Data

403-10Work-related ill healthOccupational Safety and Health > Promotion Structure andInitiatives > Industral Accident Data
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

Training and Education > Promotion Structure and Systems >Percentage of employees receiving regular performance andcareer development reviews

-

404-3

Promotional Structure in Human Resources Development

146

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

Diversity of governance bodies and employees

Securities Report (P72) (only in Japanese) (PDF: 2.5MB)
Diversity and Equal Opportunity > Systems and Mechanisms
Employment > Initiatives
ESG Data

405-2

Ratio of basic salary and remuneration of women to men-

Non-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 > System, Mechanisms and Initiatives

Operations and suppliers at significant risk for incidents ofchild labor

Procurement > System, Mechanisms and Initiatives

Human Rights > Initiatives > Initiatives with SuppliersChild LaborGRI 408: Child Labor 2016408-1

Human Rights > Initiatives > Initiatives with Suppliers

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

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

Procurement > System, Mechanisms and Initiatives
Human Rights > Initiatives > Initiatives with Suppliers

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
or impact assessments

-

412-2

Employee training on human rights policies or procedures

Human Rights > Initiatives > Human Rights Due Diligence412-3

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)

147

414-2

Negative social impacts in the supply chain and actions
taken

Procurement > System, Mechanisms and Initiatives > Sharing

Political contributions-

Business Strategies and Supply Chain Policy

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

-

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

Compliance > Initiatives > Compliance with Laws and Regulations

148