This Compliance Policy sets out the Yamato Group’s policy under which we comply with any applicable competition laws of any country. We understand that each company of the Yamato Group and all of its officers and employees are obliged to comply with this Policy and any violation hereof may lead to a disciplinary action, and hereby make the following declarations.

1. The Yamato Group operates in countries where competition laws have been developed and applied. We shall strictly comply with any applicable competition laws of any country. We shall not commit any act that hinders, restricts or distorts fair and free competition, such as allocating segments of the market with competitors, agreeing with competitors to limit production or sales output, being part of a cartel or carrying out collusive biddings, transactions by unfair means, private monopolization, vertical monopoly or business combinations capable of limiting competition.
2. We shall not make any agreement or arrangement with any of our competitors on any matter that shall be independently determined by us, including prices, quantities, customers, sales channels, suppliers, facilities and technologies etc.
3. In no event shall we exchange with any of our competitors any information about any matter that shall be independently determined by us, including prices, quantities, customers, sales channels, suppliers, facilities, or technologies etc. (herein after referred to as “Sensitive Information”).
4. If we are requested by any of our competitors to provide any Sensitive Information, we shall expressly reject such request, and shall promptly report such event to and seek directions from designated personnel in charge of compliance and risk management.
5. If we obtain any Sensitive Information from any of our competitors unintentionally, we shall promptly report such event to and seek directions from designated personnel in charge of compliance and risk management.
6. To ensure that no Sensitive Information will be exchanged with our competitors, we shall carefully examine and determine the necessity of participating in meetings, parties, golf competitions, trips or any other gathering where any of our competitors may be present.
7. In no event shall we communicate with any of our competitors in ways which may raise suspicions that we have exchanged Sensitive Information with such competitors, whether by conversation, phone, fax, email, social media or any other means.