Moriroku Group’s Conduct Guidelines
We shall conduct ourselves in the following fashion in order to contribute to the enhancement of the corporate
value of each company in the Moriroku Group and the formation of a sustainable society.

Conduct Guidelines
1. Compliance(1) Compliance with Laws and Regulations
We will accord the highest priority to complying with laws and regulations and the rules that exist bothwithin and outside our organization in all of our activities.
(2) Proper Reporting and Disclosure
We will proactively and promptly report information to our supervising managers and top management, beit negative information or otherwise, and will not enter, input, submit, report or disclose false or fictional
information; modify any records; or conceal any facts.
(3) Information Management
We will manage confidential information, customer information and personal information in accordancewith laws and regulations and the rules that exist both within and outside our organization, and will not divulge
said information to a third party nor use it for anything other than its designated purpose.
(4) Management of Corporate Assets
We will not use corporate assets or corporate expenses for any purpose not associated with companybusiness.
(5) Conflicts of Interests
We will not engage in any acts that may create a conflict of interest between an individual, a business partner
or a third party that will run contrary to the interests of our organization.
(6) Fair and Equitable Business Dealings
We will have absolutely no part of nor involvement in any antitrust activities, and we will decide upon themost ideal suppliers following a fair comparison and evaluation of various conditions that include quality,
price, delivery, skill, and stable supply.
(7) Sound Relationship with Business Partners, Etc.
We will not offer business partners, etc. with gifts or hospitality that go beyond conventional wisdom, andwill not offer domestic or overseas public officials or equivalent parties money, gifts, hospitality or other formsof economic gain that are prohibited by laws and regulations or go beyond conventional wisdom.
(8) Respect for Intellectual Property Rights
We will respect the intellectual property rights of others, and endeavor to prevent the infringement of suchrights.
(9) Timely and Appropriate Disclosure
We will disclose corporate information in a timely and appropriate manner in line with pertinent laws,regulations and rules, and work towards deepening mutual understanding with all of our stakeholders.
(10) Prohibition of Driving Under the Influence
We will comply with traffic rules and etiquette, and refrain from driving under the influence of alcohol andillegal substances in violation of the law.
2. Respect for Life and Dignity(1) Prohibition of Discrimination
We will not handle employment administration or employee treatment in a discriminatory manner forreasons based on nationality, gender, age, beliefs or any other protected class under applicable law.

(2) Prohibition of Harassment
We will endeavor to maintain a safe and effective workplace environment, and we will refrain fromany harassment and other forms of physical or verbal acts that impinge on individual character and dignity(violence, verbal abuse, slander, libel, intimidation, etc.).
(3) Respect for the Individual
We will think and act of our own accord and bring forth new ideas, as well as to ensure we respect theindividuality, ideas and privacy of other employees.
(4) Preservation of Safe Workplace
We will endeavor to maintain a workplace environment that is both safe and hygienic, and will takepreventive measures towards accidents and disasters as well as promptly respond to any accidents and disasters
should they occur, ensuring to place the highest priority on human life.
3. Customer Satisfaction(1) Joint Creation of Customer Value
We will supply products and services that benefit society and providing them with superior skill, quality, costand delivery, and we will also endeavor to provide information that serves the improvement of our customers’
corporate value and engage in the joint creation of customer value.
(2) Improvement of Customer Satisfaction Levels
We will listen to customer input and handle their inquiries, requests, etc. with speed and precision, and we willpromptly and accurately ascertain the needs of our customers, and work towards providing products, services andinformation that addresses those needs.
(3) Guarantee of Product Quality and Safety
We will work towards maintaining and improving quality and safety levels of the products and services as wellas preventing any accidents or incidents before they occur, and we will respond to any accidents, incidents ortrouble should they occur with swiftness.
4. Contribution to Society(1) Consideration for the Environment
We will promote energy conservation, resource conservation and the 3R’s (Reducing, Reusing andRecycling), and will promote the procurement of materials and services with a low environmental footprint.
(2) Favorable Relationships with the Community
We will build and preserve favorable relationships with nearby residents and other members of thecommunity, and we will respect the culture and customs of the countries and regions in which we are active,and work towards enabling ourselves to contribute to the development of those countries and regions.
(3) Security Export Control
We will engage in security export transactions only after thoroughly and carefully determining whether or
not the products and/or technology we are to export will be subject to regulations under pertinent laws.

Core Values
1. Progressive Spirit(1) Bold Challenges
We will demonstrate industry leading creativity, and we will establish high goals for ourselves and continue
to take on bold challenges in the name of further enhancement of our corporate value.
(2) Speedy Action
We will take speedy action in order to achieve our established goals, and respond to any and all change withswiftness.

(3) Global Accommodation
We will adopt a global perspective so that each and every one of us becomes a professional capable ofcontributing on the world front. In doing so, we will aim to become a truly-global business group.
(4) Skill Enhancement
We will constantly keep up our learning and growth processes, and we will endeavor to enhance ourindividual ability and specialized skills of our own accord and, as members of an organization, assist in thegrowth and skill enhancement processes of other members as well.
2. Total Cooperation(1) Mutual Cooperation Free of Company or Organizational Barriers
We will refrain from erecting company or organizational barriers, and will unite our spirit to mutually
cooperate with each other and demonstrate synergy amongst ourselves in the name of realizing our goal ofdeveloping the Moriroku Group on a sustainable basis and contributing to global society at large.
(2) Sense of Responsibility and Passion
We will engage in our work endeavors with a strong sense of responsibility, initiative, autonomy, and great
enthusiasm (strong passion).
(3) Close Communication and Teamwork
We will endeavor to communicate closely with the parties involved, and achieve results that go beyond thesum of individual capability through good teamwork.

[Administration of These Guidelines](1) Instruction and Supervision
Managerial personnel shall instruct and supervise employees in their care so that the latter complies withthe matters stipulated in these Conduct Guidelines.
(2) Reporting and Consultation
Should an employee discover an act that may constitute a violation of these Conduct Guidelines, laws orregulations, said employee shall immediately report the foregoing to either their supervisor or to thepredesignated contact point.
(3) Prohibition on Retaliation
The confidentiality of reporters shall be strictly maintained, said reporters must not be subject to retaliation
for having made a report.
(4) Cooperation with Investigations
Directors, officers and employees shall cooperate with an investigation into whether an act or instance ofbehavior took place that may constitute a violation of these Conduct Guidelines, laws, regulations or rules.
(5) Discipline
Directors, officers and employees who have violated these Conduct Guidelines or have ignored such
violations shall be subject to discipline up to and including termination of employment.