Management Policy

1. Basic Management Policy

Based on the Company's unchanging Founding Principles, the Company and its subsidiaries and affiliates continue working to create new value and contribute to society. To achieve these goals, we focus on technology, research and development, incorporating ever-changing information technology and establishing a fishery products supply chain utilizing our global network, and aim to bring carefully selected ingredients and high-value products and services to tables around the world. Our basic management policy also aims to be proper in our actions as both individuals and as a company.

The Company and its subsidiaries and affiliates will build upon our spirits that we inherited as the genes since our foundation to maximize profitability in our business structure while aiming to expand new businesses to enhance the quality of the group as a whole and to manage the business in a way that can attain support.

2. Basic Policy Regarding Profit Sharing

As for profit sharing at the Company and its subsidiaries and affiliates, our policy is to pay dividends to shareholders according to the consolidated business performance of the Company and its subsidiaries and affiliates in view of enhancing the corporate constitution from a long-term, comprehensive perspective, in consideration of retained earnings to prepare for rolling out businesses in the future.

Trends in Stock Dividend

3. Concept and Policy Regarding Reduction in Stock-Investment Unit

In order to create an environment for our investors in which investments are easy to make, the Company considers it an important measure to expand the individual investor base and vitalize the distribution of stocks. Thus we decided to change the number of shares issued in a unit from 1,000 to 100 as of September 1, 2005.

Stock Information

4.Medium-term Basic Policies and Management Indicators to Achieve

5. Medium-term Basic Policies and Management Indicators to Achieve

While the domestic economic situation going forward will carry risks such as sudden fluctuations in exchange rates and rising interest rates, steady growth as a result of domestic commercial demand can be expected. On the other hand, the Company and its subsidiaries and affiliates should expect to face fierce competition in the global market among its businesses.

Under such conditions, the Company and its subsidiaries and affiliates will implement a New Mid-Term Business Plan "MVIP + (Plus) 2020" while creating synergies with members of our global links including companies accounted for the by equity method both in Japan and overseas, which will enable the power of the Nissui Group to become even stronger and larger.

*Nissui Group's corporate network enables the sharing of aspirations and creating value together. The Risk Management Committee under the direct control of the President works to promote and advance the establishment of risk management system for the Company and its subsidiaries and affiliates based on the risk management rules for high-priority risks such as compliance, the environment, quality assurance, and finance.