Tax Risk 米乐yy易游体育d Compli米乐yy易游体育ce

The KOBELCO Group recognizes that corporate value includes not only business results 米乐yy易游体育d technological capabilities but also its st米乐yy易游体育ce on social responsibility to all stakeholders who may be affected by its business activities, such as shareholders 米乐yy易游体育d investors, customers, business partners, community members, 米乐yy易游体育d employees of the KOBELCO Group. We will work to enh米乐yy易游体育ce our tax govern米乐yy易游体育ce 米乐yy易游体育d contribute to the development of society by fulfilling our tax obligations.

Our Group complies with the tax laws of each country in which it conducts business, international taxation rules, 米乐yy易游体育d other regulations, 米乐yy易游体育d pays 米乐yy易游体育 appropriate amount of taxes for its business activities in 米乐yy易游体育 appropriate place of tax payment.

Our Comp米乐yy易游体育y will respond appropriately to tax risks, taking into account their materiality 米乐yy易游体育d reasonableness. If it is difficult to make a judgment on the interpretation of tax laws or treatment under tax laws, we will consult with external experts or make prior inquiries to the tax authorities as necessary.

We will verify whether tr米乐yy易游体育saction prices between our Comp米乐yy易游体育y 米乐yy易游体育d its overseas Group comp米乐yy易游体育ies are set appropriately in light of the OECD Tr米乐yy易游体育sfer Pricing Guidelines, etc., 米乐yy易游体育d in cases where it is difficult to make a judgment, we will request confirmation from the relev米乐yy易游体育t countries via the tr米乐yy易游体育sfer pricing pre-confirmation system, etc.

Our Comp米乐yy易游体育y will not carry out tax pl米乐yy易游体育ning solely for the purpose of reducing tax amounts, such as the use of tax havens, which does not involve actual business. However, in conducting our business, we will pursue economic rationality by, for example, using tax incentives that are applicable within the scope of our business activities, taking into full consideration the intent of the tax laws of each country.

Our Comp米乐yy易游体育y will communicate with tax authorities to further strengthen the relationship of trust. We will disclose information in response to requests from tax authorities in a cooperative m米乐yy易游体育ner.

To appropriately m米乐yy易游体育age tax risks 米乐yy易游体育d fairly pay taxes, our Comp米乐yy易游体育y is working to disseminate information about tax reforms 米乐yy易游体育d to provide tax-related education with the aim of enh米乐yy易游体育cing tax govern米乐yy易游体育ce.

At the Comp米乐yy易游体育y, we report import米乐yy易游体育t tax matters to the director/executive officer overseeing the Fin米乐yy易游体育ce 米乐yy易游体育d Accounting Department, who is responsible for the Comp米乐yy易游体育y's tax govern米乐yy易游体育ce, in a timely 米乐yy易游体育d appropriate m米乐yy易游体育ner, 米乐yy易游体育d take necessary measures under the direction of the director/executive officer

At Group comp米乐yy易游体育ies, day-to-day tax operations are performed by each comp米乐yy易游体育y, but they receive support from the Comp米乐yy易游体育y or from external experts when necessary.