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Our Position Regarding Asahi Shimbun's Response

According to the internal investigation by our Company, it has turned out that the said Accounting Manager's Manipulation Memorandum was prepared by only the major persons involved in the scheme of US$10 million fund circulation on which the Third-party Committee raised a question.

Asahi Shimbun claims that the top management of our Company is aware of this scheme based on the following two points: (1) The said Accounting Manager's Manipulation Memorandum was prepared at our Company's terminal and that (2) it was put on agenda at the Strategy Committee held on April 5, 2010

However, there is no connection between the fact referred to in (1) and awareness of the top management. At the Strategy Committee referred to in (2), there exists no fact that a decision was made regarding the fund circulation at that particular time. (The Strategy Committee is, in short, an organ to discuss or report a project but not to make a decision. The matter discussed or reported should be forwarded to a decision-making organ such as Board of Directors.) The said accounting manager was not a member of the Strategy Committee and neither in a position of learning the discussion there. Therefore, "the aforementioned,     manager of the Finance and Accounting Division knew the deliberation of the Strategy Committee in details that he did not attend, suggested he did it based on our Company's intent and prepared a concrete scheme chart. However, for some reason, he did not submit it to the top management, but handled it by e-mails among those involved on whom the Third-party Committee raised a question (including the said Manager of the Finance and Accounting Division who signed on the document as issuer.) Following this unusual course of development as a fact, it is apparently difficult to judge that the top management of our Company is aware of the said scheme.

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