GROWTH POLICIES THAT MAKE TOSHIBA A WINNER TOSHIBA CORPORATION 11 In a turbulent, fast-changing business envi- ronment, it is imperative that risk management is at the forefront of manage- ment’s concerns. The recent revisions to the Japanese Commercial Code are clear in re- quiring companies that make the transition to the Company with Committees system to set up an internal control system for managing risk and compliance with laws and other requirements. Toshiba has al- ready established a strong system for risk management throughout Group opera- tions. Measures already implemented include a corporate Risk Management Committee and a comprehensive compli- ance system, all of which will be evaluated and improved on as necessary. Toshiba regards proactive investor relations activities as an essential component of full management transparency, and constantly strives to maximize information disclosure. The quarterly reports we initiated in the quarter ending in December 2001 play a key part in this pursuit, allowing us to provide stakeholders with timely updates on fore- casts and business conditions. And since we also consider the exchange of information to be a mutual process, stakeholder views, opinions and suggestions are routinely re- ported to Toshiba’s management. In other words, we place central importance on in- creasing shareholder value through positive investor relations activities. Openness and Accountability Thoroughgoing Risk Management CEO (President) iaiso & Grector) Operating Ollicer re En Operating Officer inot a dureotar)