Compliance Strengthening

RNS Number:6552T
Takefuji Corporation
24 December 2003


  TAKEFUJI CORPORATION   15-1 Nishi-Shinjuku 8-chome,Shinjuku-ku, Tokyo 163-8654 Japan
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                                                                                                      December 24, 2003
For release         Immediately
Representative      Akira Kiyokawa, President
Contact             Investor Relations
                    Tel: [phone]
                    Fax: [phone]
Stock Code No. 8564 TYOSE



                           Strengthening Takefuji Corporation's Compliance Structure
                                                 and Practices


Takefuji Corporation is pleased to announce a number of new steps it has taken to strengthen its compliance
structure, including changes to the membership of its Compliance Committee and the establishment of a Compliance
Control Section. These steps have been taken both to ensure that our company operates even more fully than in
the past in compliance with all relevant rules and regulations and in conformity with internal policies, and
also to lay the foundation for an appropriate culture of ethical business practices.


Throughout our history, Takefuji has aimed to embody in its business activities the principles of putting the
customer first and giving staff responsibilities and stimulating career challenges. At this juncture we have
decided to review and make major changes to the structure and function of our Compliance Committee and related
functions, in order further to reinforce our commitment to these principles.


Going forward, we intend to ensure that all our executives and employees take full responsibility for
understanding and complying with all relevant rules and regulations. We aim to create a business culture in
which staff instinctively respond to instances of illegality or ethically inappropriate conduct and take
remedial action on their own by reporting the matter and ensuring that it is dealt with promptly and
effectively.


Main points of the new Compliance structure

(1) Changes to the membership of the Compliance Committee

  * In order to make the Compliance Committee a highly effective and productive organization, we have invited
    a number of well-qualified independent members to join the Committee and to comment on issues of our
    management structure and performance.


  * Specifically, we are pleased to be able to announce the appointment of the following independent members:
       Shogo Asaoka c(Attorney at Law, Formerly Vice-Chairman of the Dai Ichi Tokyo Bengoshi Kai)
       Takayasu Okushima c(Professor in the Faculty of Law, Waseda University, formally the fourteenth Principal
    of Waseda University)
       Masaharu Hino c(Attorney at Law, formerly Commissioner of the Financial Supervisory Agency, previously
    Chief Public Prosecutor for Nagoya)
       Fumio Masada c(President of the NLI Research Institute, formerly Vice-President of Nippon Life Insurance
    Company)


  * These four independent members will serve alongside five members from Takefuji Corporation, on a committee
    of nine members in all.



(2) Strengthening administrative resources devoted to compliance

  * In order to provide greater administrative support to the work of the Compliance Committee, we will also
    establish a new unit at our headquarters, provisionally titled the Compliance Control Section, reporting
    directly to the Vice-Chairman of Takefuji Corporation.


  * We will appoint a total of 69 Internal Compliance Control Managers, in each of the major departments and
    sections both at head office and in the Regional Branches, who will have responsibility for regular training
    sessions and for checking on compliance matters. They will file regular reports at the end of each month
    with the Compliance Control Room confirming whether or not each branch office has properly carried out its
    mandatory compliance-training program.


  * Every branch office will have a designated compliance officer. These officers will be responsible for
    giving weekly courses to fellow employees, on the basis of the authorized compliance manual, covering
    compliance themes which will be updated monthly, and touching on basic business ethics, the points of the
    law, and specific case studies.



(3) Improving transparency and information flow

  * We will establish an information hotline accessible both to company employees and the public, which should
    allow us to identify and respond to compliance issues promptly. In order to ensure that information from
    members of staff is handled fairly and objectively, and that the employee's own privacy is respected, calls
    to the hotline will be handled by outside legal counsel.


  * All information supplied via the hotline which raises issues of potentially illegal, inappropriate or
    unethical behavior will be reported to the Compliance Committee, considered by the Board of Directors, and
    appropriate measures will be taken to ensure that the matter is remedied, if possible before a serious
    breach has taken place.



(4) Strengthening cooperation between the Compliance Committee and the Board of Directors

  * A report on the activities of the Compliance Committee and the compliance efforts in general will be
    presented monthly to the Board of Directors, and any issues of concern arising will be thoroughly debated.




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                                    by Takefuji co.   E-mail:[e-mail]


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