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Our Position Regarding Asahi Shimbun's Response

Therefore, whether or not the source is disclosed, we were expecting the aforementioned "Board of Directors' Resolution" to be disclosed. Note that our Company had requested only the provision of that document, which the involved Asahi Shimbun reporter already possessed, so the request involved no particular undue burden. Therefore, since the document has not been presented by the deadline, as well as Asahi Shimbun has declined to produce the concerned document without justifiable cause and is not disclosing its source, the content of the aforementioned news report must be considered to be false or mendacious. At the same time, we must conclude that Asahi Shimbun could not disclose the source because it is not reliable.

The letter of February 15, 2013 received from Asahi Shimbun in response to our request included a comment claiming that, although not reported in the news article, Asahi Shimbun has in its possession a copy of a document titled "Proposal on countermeasures on accounting issues concerning the Manila Bay Resort Project" (dated April 11, 2010) prepared by Mr. Norihisa Kiriu, an employee of our Company in the Finance and Accounting Division. Based on this document, Asahi Shimbun in the above letter claimed that our Company's management was aware of this scheme, thus suggesting the possession of evidence other than the documentary evidence we had requested.

Asahi Shimbun now indicates it has new evidence, which does not support this particular allegation in sustainability at all, while flatly rejecting with no reason to present the document we requested. It is difficult to know what Asahi Shimbun means by making such attitude in response to our request. In addition, to make the matter clear, the new document titled "Accounting Treatment of and Solution for Manila Bay Resort Project" (hereinafter referred to as "Accounting Manager's Manipulation Memorandum") has no credibility.

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