Code of Ethical Practice of DESCENTE

1. Production and Provision of Better Products and Better Services

   We shall contribute to the creation of a more vibrant lifestyle for our customers by always thinking of them first, aiming to produce safe and high-quality products, and by proposing a new sense of value.

2. Compliance Based on Social Norms

   When conducting our business activities, we shall observe all relevant laws, regulations and other social norms, and act fairly and impartially in a rational manner.

3. Fair and Transparent Transactions and Free Competition

   We shall not engage in unlawful or socially unacceptable transactions, nor shall we obtain or pass on any unfair profits through any commercial transactions. In addition, we shall not engage in bribery, misappropriation or other unlawful acts.

4. Disclosure of Corporate Information

   We shall communicate with our shareholders, customers, investors, business partners, the communities in which we operate, and other members of the public and public entities. We shall also promptly and accurately disclose information regarding our corporate management and business activities, excluding those specifically regarded as trade secrets.

5. Disengagement from any Intrusion of Organized Crime into Civic Life, and Other Anti-Social Forces and Groups

   We shall not respond to unreasonable demands from any anti-social forces or groups that resort to so-called 'Intrusion of Organized Crime into Civic Life' or otherwise threaten public safety and order. Should any such problem occur, we shall tackle and respond in an organized manner in cooperation with the police.

6. Proactive Environmental Efforts

   Considering global environmental preservation to be one of our most important challenges, we shall proactively carry out global environmental preservation activities in accordance with our "Basic Environmental Philosophy", and conduct environmental management in such a way as to contribute to building a sustainable society.

7. Establishment of a Friendly Working Environment

   In order to establish a safe and healthy working environment, we shall ensure that all predefined rules are strictly observed, prevent industrial accidents, promote health management, and establish a corporate culture where our employees can embrace a wide range of ideas and handle challenges positively. We shall also ensure that our employees and all other people who have any relationship with us will not be harassed or discriminated against because of their place of birth, gender, age, physical disability, or any other factors which are not directly related to carrying out their job.

8. Social Contribution and International Cooperation

   We shall strive to contribute significantly to society not only in Japan but also throughout the rest of the world by providing our customers with excellent products and supporting related sporting events. In addition, whenever we have contacts with a foreign company or entity, we shall pay careful attention to and try to understand the culture and customs of the region in which such companies or entities are located.

9. Responsibility of Officers and Executives

   Our officers and executives shall take the lead in observing this Code of Ethical Practice, perform maintenance of and provide instructions on this Code, and develop internal systems in order to ensure its implementation. In the event of a violation of this Code of Ethical Practice, our officers and executives shall thoroughly investigate the matter, disclose the cause of the violation, clarify the identity of those responsible (including their own degree of responsibility), and ensure that all measures adopted in order to prevent any recurrence of such violations are thoroughly implemented.

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Established on Sep. 1, 2003