Declaration of Corporate Conduct

The Taisho Pharmaceutical Group’s Declaration of Corporate Conduct

In keeping with our long-held tradition of shinsho,* we abide with by laws, ordinances, regulations, social standards and business practices; are disciplined in maintaining a highly ethical approach; and pursue our business in accordance with the general principles outlined below.

• * Shinsho: Literally translated as “gentlemanly business” Refers to the operation of a business with honesty, diligence, and passion; instilling an individual and a company with pride to fairly interact with society and consumers.

1. We will continue to remain honest and sincere with and strive to gain the trust of the consumers of Taisho products and services.
2. We handle all information gathered in the course of our business with the utmost care and take all possible measures to ensure the protection of personal information, customer data and confidential information.
3. We conduct business transactions on fair terms and conditions, and take a fair approach in the course of our dealings with our many business partners and customers to foster a sense of co-existence and co-prosperity.
4. We respect the human rights, personality, individuality and diversity of each of our employees; establish an appropriate evaluation system and strive to create a healthy and safe workplace, which employees find rewarding.
5. We comply with capital market rules; disclose accurate information in a fair and timely manner to and maintain healthy working relationships with shareholders and investors.
6. We compete in a fair, transparent and open manner and work as a “good corporate citizen” by engaging in an open dialogue with members of society.
7. We reject demands from antisocial influences or groups involved in activities that may threaten the order and safety of civil society.
8. We recognize environmental problems to be an issue shared by humanity and recognize that business activities have a major impact on the environment; we therefore work proactively in a voluntary fashion to pursue environmentally friendly business practices.
9. We respect the unique cultures and practices of each country where we operate our international business by adherence to international laws and applicable regulations, and manage our business to contribute to the development of each country.
10. All executives at Taisho Pharmaceutical, from the most senior levels down, are aware of their personal responsibility to implement this Declaration of Corporate Conduct; they will set an example for others to follow, and will work to ensure that this Declaration is fully understood by Taisho employees and Group companies.