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Efforts to Redevelop Internal Controls

Clarion endeavors to redevelop internal controls as society pays closer attention to corporate governance of each enterprise.

We laid out “Basic Policies for Internal Control System” in

Fiscal 2006 synchronizing with the enforcement of the Corporate Law. Since Fiscal 2007, as a member of the Hitachi Group, we proceeded with redevelopment of internal controls in compliance with the Public Company Accounting Reform and Investor Protection Act (SOX Act) of the United States and the outcomes are reported to Hitachi, Ltd.. Since Fiscal 2008, we implemented internal control and assessment based on the Japanese Financial Instruments Exchange Act (J-SOX Act) as the Group and the reports are made to the Financial Services Agency.

We have found no material weakness and deficiencies pointed out during the assessment stages have duly been rectified. Thus qualitative improvement of internal control system has been achieved. We continue to improve management quality of the Group through efforts in this fields.

Qualitative Improvement of Internal Control

Qualitative Improvement of Internal Control

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