I would like to explain our company policyconcerningpersonnel matters including promotion, transfer, retirement and so on.

With a few exceptions, we announce promotions and transfers on April 1 every year. The decision about promotions is based upon the judgment of the head of the department concerned as well as the recommendations by the personnel committee. As to transfers, it it usually determined on the basis of the recommendations by the head of the department concerned. We have a flexiblepolicyconcerning transfers. That is, if an individual does not wish a transfer, she or he can decline the transfer appointment. As to our retirementpolicy, we set the retirement age at 60, and allow for earlier retirement if one wishes.

We endeavor to give all the employees equal and fair treatment in these matters. If you want to have more information, please contact the Personnel Department. Thank you.