Corporate Governance System

Process to Maintain and Improve Corporate Value - Our Internal Control Activities

We believe that internal control refers to a process, besides carrying on a companyfs responsibility to its stakeholders, required to continuously maintain and improve corporate value as market economy develops.

Aiming at building an internal control system that is required by the Companies Act enacted in 2006 and the Financial Instruments and Exchange Law fully put in effect in April 2008, we prepared business flow charts and identify risks associated with our business, to clearly show a flow of accounting activities of companies of the DOWA group. We strive to improve our corporate value by preparing documents related to activities other than accounting, enhancing compliance in our daily business activities and improving the effectiveness of our operations.

We have started the holding company system and we are committed to continue enhancement of corporate governance, while reorganizing our internal company system to a more advanced decentralized organizational system.

Diagram

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Ifm responsible for internal control since the start of the CSR Department in December 2007.

gInternal controlh sounds somewhat complicated and difficult, but I regard this as a mirror where in which the image of a company is reflected. Even a person in a fashionable outfit wonft look as great as expected in a dirty mirror. A mirror is fragile and easily broken. A mirror that reflects a clear image of a company refers to a company environment where individual employees do what they should do properly; that is, internal control is well maintained. So always polishing a mirror and confirming its clarity means maintaining and auditing internal control. On the stage of internal control, each employee plays the lead role.

I want to share my view across the entire DOWA group that internal control is not something authoritative but something accessible by any employee.

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