Minutes of Committee Meetings

2nd Meeting: Compliance Advisory Committee

1. Date and time

August 11, 2005 (Thu) 13:30 - 15:35

2. Location

Main Office Conference Room, Mitsubishi Estate

3. Attendees (titles omitted)

Committee Chairman Iwao Taka [Professor, School of Economics and Business Administration, Reitaku University]
Committee Members (in Japanese alphabetical order)

One Akiyama [President, IntegreX Inc.]

Toshiko Katayama [Lawyer, Katayama, Kuroki and Hiraizumi Law Office]

Attendees from the company

Keiji Kimura [President & CEO]

Nobuyuki Iizuka [Executive vice-president/corporate officer in charge of Compliance]

Seiichiro Suzuki [Senior executive officer/officer in charge of CSR Promotion]

Executive Committee CSR Department

4. Deliberations (summary)

The Executive Committee explained the following issues to committee members and an exchange of ideas was held.

(1) The history of Mitsubishi Estate's compliance structure

  • They explained the history and status of existing initiatives such as the Mitsubishi Estate Group Code of Conduct, the regulations and organization of the Compliance Committee and the kinds of training provided.

(2) The OAP Incident

  • They provided an overview and history of the OAP project.

(3) The Investigative Committee for the Explanation of Important Matters

  • They introduced the newly-formed Investigative Committee for the Explanation of Important Matters which is responsible for revising the key points and ensuring the thoroughness of the material created when drawing up contracts and explanatory documents about important matters during the sale of residential buildings.
  • They also pointed out differences in knowledge of residential buildings between business operators and purchasers and the need for the persons responsible for marketing to pay attention to their speech and conduct.

(4) Compliance policies for ordering construction work

(5) The State of Emergency Guidelines

(6) Exposing potential risks

(7) Meeting to exchange ideas between mid-level employees

  • In early August, Committee Chairman Professor Taka met with 30 mid-level employees from Mitsubishi Estate and the Mitsubishi Estate Group to exchange ideas. The ideas received on the occasion were explained and then discussed among the committee members and the decision was made to reflect the ideas in future training sessions.

■ Problems with the company noted during the idea exchange meeting

  • · The negative effects of the company's headquarters system
  • · The lack of a generational balance in the personnel structure
  • · The need for greater clarity in the decision-making process
  • · The lack of leadership provided by superiors

5. Other opinions

It was pointed out that training is of vital importance since it not only spreads awareness of compliance but also encourages self-reliance and a reformed mindset among individual employees.

CORPORATE INFORMATION

  • A MESSAGE FROM THE MANAGEMENT
  • ABOUT MITSUBISHI ESTATE
  • PROFILE OF MITSUBISHI ESTATE
  • CORPORATE BRAND
  • SAFETY AND SECURITY
  • CORPORATE GOVERNANCE
  • GROUP COMPANIES