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Establishing the Citizen Group Code of Conduct

As part of the Citizen Group's transition to a 100% holding company system in April 2007, we set out the Citizen Group Code of Conduct to enable all Group company directors and employees act based on a shared awareness with regard to stakeholders and fulfill their social responsibilities to even greater extent. Individual Group companies implement CSR activities based on the Group-wide corporate philosophy of "contributing to and striving to be respected by citizens of the world" and their own responsibilities, maintaining respect for company-specific factors such as operational and regional characteristics, history and corporate culture.

CITIZEN GROUP CODE OF CONDUCT

WE WILL OBSERVE ALL LAWS AND COMPANY REGULATIONS AND WILL ACT ACCORDING TO THE CODE OF CONDUCT.

In keeping with a corporate philosophy stating that Citizen contributes to and strives to be respected by the citizens of the world, we will:

  1. Provide our customers with products and services that demonstrate our concern for safety, quality, and the environment.
  2. Engage in fair, transparent and open competition in business transactions, and maintain healthy relationships with our suppliers and government regulatory authorities.
  3. Work to communicate with the general public, taking the initiative in making corporate information openly available, while at the same time practicing responsible data management.
  4. Recognize that environmental issues are a common concern of mankind and a crucial issue for management in terms of the survival and activities of the company, and engage these issues in a voluntary, proactive manner.
  5. Value symbiosis with local communities, and strive to contribute to society as a good corporate citizen.
  6. Ensure a safe and pleasant working environment and encourage the development of our employees' abilities and energies while respecting their characters, individuality, and diversity.
  7. Respond to anti-social behavior by individuals and organizations in a decisive manner.
  8. Value and respect the different cultures and customs of foreign countries, and contribute to the development of local communities.
  9. The top management of the Citizen group recognize that implementing this Code of Conduct is their personal responsibility, and that they must take the lead not only in enforcing it within the company, but in conveying it to our business partners and suppliers. In addition, they must always be conversant with opinion within the company and outside it, develop an effective internal system for compliance with the Code of Conduct, and work to ensure a thorough adherence to corporate ethics.

The company and its employees will make untiring efforts to observe this Code of Conduct. If a situation that contravenes this Code of Conduct arises, the company will strive to resolve it and prevent its recurrence, and make an appropriate public report. The company will also take strict disciplinary measures upon determining the responsibility and authority of those involved.

Effective April 6, 2007

Relationship with stakeholders

The Citizen Group's business activities are built on trusting relationships with a wide range of stakeholders. We engage in communication with our shareholders in an effort to put the Group's corporate philosophy into practice.

The Citizen Group and its stakeholders