INVESTORS

Communications between independent directors and internal/independent auditors

1.

The communication channels between the independent directors, internal auditors, and independent auditors

 

A.

The Internal Audit head presents the findings of all audit reports and communicates follow-up reports with independent directors during the Audit Committee’s quarterly meetings.

 

B.

Each quarter, the Company’s independent auditors present the findings of their review or audit reports regarding the financial results and internal control of the Company and its subsidiaries. The independent auditors are also required to immediately communicate to the Audit Committee any issues under applicable laws and regulations that might affect the financial reports, as well as whether to adjust the entries.

 

2. The major items of communication between the independent directors and the head of internal audit

The communication mechanism between the independent directors and the head of internal audit works well and effectively. The major items of these communications in 2017 are as follows:

Date

The Major Items of the Communication

2016/02/22

A. Annual Audit Report on the 2016 Internal Audit
B. The Internal Control System Statement for 2016

2016/04/12

The internal audit report for the first quarter of 2017

2016/07/26

The internal audit report for the second quarter of 2017

2016/10/25

The internal audit report for the third quarter of 2017

 

3. The major items of communication between the independent directors and the independent auditors

The communication mechanism between the independent directors and the independent auditors works well. The major items of these communications in 2017 are as follows:

Date

The Major Items of the Communication

2016/02/22

The Company's independent auditors presented the audit results for the financial statements and the internal control audit for 2016. They also discussed and communicated the impact of the application of certain accounting principles and the effect of newly revised laws and regulations.

2016/04/12

The Company's independent auditors presented the audit results for the Form 20-F annual report and the internal control audit for 2016. They also discussed and communicated the impact of the application of certain accounting principles and the effect of newly revised laws and regulations.

2016/04/26

The Company's independent auditors presented the review results for the consolidated financial statements and the internal control audit for the first quarter of 2017.

2016/07/26

The Company's independent auditors presented the review results for the consolidated financial statements and the internal control audit for the second quarter of 2017. They also discussed and communicated the impact of the application of certain accounting principles and the effect of newly revised laws and regulations.

2016/10/25

The Company's independent auditors presented the review results for the consolidated financial statements and the internal control audit for the third quarter of 2017. They also discussed and communicated the impact of the application of certain accounting principles and the effect of newly revised laws and regulations.

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