Tokyu Fudosan Holdings Group Human Rights Policy
Tokyu Fudosan Holdings Group (hereinafter, "the Group") solves social issues through ourbusiness activities and works with stakeholders to realize a sustainable society and growth.
The Group recognizes that respecting the human rights of employees and all stakeholders
involved in its businesses is an essential requirement of a company with global operations.
1. Adherence to International Human Rights Standards
The Group upholds and respects human rights as outlined in the International Bill of HumanRights (Universal Declaration of Human Rights, the International Covenant on Civil andPolitical Rights, and the International Covenant on Economic, Social and Cultural Rights)
and the ILO Declaration on Fundamental Principles and Rights at Work. It promotes
responsible management according to the UN Guiding Principles on Business and HumanRights, as well as the principles of the UN Global Compact. Whenever there is a conflict
between internationally recognized human rights standards and the laws of a country inwhich it operates, the Group seeks ways to uphold global human rights principles.
2. Importance of this Policy
The Group states “Respect human rights” in its Code of Conduct and encourages individual
employees to give due consideration to human rights in their activities. In addition torespecting basic human rights in compliance with the local laws and regulations implemented
in the regions where it has bases, it takes steps to prevent discriminatory behavior andspeech, sexual harassment and power abuse while making efforts to respect the diverse
values, individuality, and privacy of individuals. The Tokyu Fudosan Holdings Group HumanRights Policy (hereinafter, "this Policy") serves as a detailed explanation concerning therequirement to respect human rights in the Group Code of Conduct.
3. Scope
This Policy applies to all Group officers and employees, and the necessary education andtraining is provided. The operating officer in charge of human resources is responsible forthe application of this Policy. Business partners of the Group are expected to support thisPolicy and to work with the Group to protect human rights.

4. Human Rights Due Diligence and Remedies
The Group carries out human rights due diligence to identify any actual or potential impacts
that business activities may have on human rights, and the Group then prevents or mitigatesthem. Whenever it is discovered that the Group's activities have caused or contributed toadverse impacts on human rights, the Group will work to remedy the situation. The Groupwill make efforts to rectify any business or service that may be linked to adverse impacts onhuman rights through the actions of business partners or other relevant parties. A mechanism
will also be established that allows internal and external stakeholders to report and consult
on Group activities that may affect human rights.
5. Stakeholder Dialogue
As the Group's wide-ranging business areas, including real estate, largely affect communities
and society, it is essential to work closely with a variety of stakeholders. With this in mind,
the Group engages in dialogue with its stakeholders, including employees, local communities,business partners, and customers. It also shares the progress of its efforts on its website andin its integrated reports.
6. Priority Human Rights Issues
In order to avoid any infringement of human rights as a result of business activities, the Groupwill maintain a close dialogue with stakeholders and external experts concerning social andenvironmental changes and its business direction, and it will identify priority human rights
issues as they arise.

December 25, 2019
Yuji Okuma
President & Chief Executive Officer (CEO)