Minutes of Committee Meetings

3rd Meeting: Compliance Advisory Committee

1. Date and time

August 24, 2005 (Thu) 16:00 - 18:10

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]

Kakutaro Kitashiro [President and chief executive officer, IBM Japan, Ltd. Chairman, Japan Association of Corporate Executives]

Kenji Koroyasu [Lawyer, Tokyo Eiwa Attorneys at Law. Former superintending prosecutor, Osaka High Public Prosecutors' 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) Conflict of Interest manuals and their application in the Fund Business and other businesses

  • Plans to add information about conflicts of interest in the Fund Business and other businesses to a compliance handbook were explained.

(2) Exposing problems through in-house consultations and group questionnaires

  • The Mitsubishi Estate Group's system for eliminating ties to organized crime was explained.
  • Examples of inquiries received through the internal company helpline (internal reporting) system were provided and it was agreed that the responses given were generally conscientious. However, it was noted that the penalties for compliance violations set out in regulations needed further explanation.
  • The need to adopt a no-tolerance approach to sexual harassment and abuses of power in particular was noted.
  • It was suggested that a questionnaire be administered to measure employee satisfaction levels.
  • Proposals were made concerning a revision of the contents of the compliance handbook.
  • Concerning the implementation and importance of compliance, the point was made that there might be a difference in real intentions as opposed to public attitudes. Thus, it was suggested that creating a detailed manual would be effective at spreading awareness of compliance among employees and officers.

CORPORATE INFORMATION

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