Integrated Report 2021(Part2)

Strategy and Performance

CDO Message

Helping to further solve

Message from Management

MS&AD's Value Creation

Strategy and Performance

Corporate Governance

Appendix

Data Section

We are encouraging each employee to change their way of thinking so we can provide high-value-added services.

social issues with CSV combined with DX

Masashi Ippongi

CDO

With, for example, transforming our products and services, in the event of an accident and conventional insurance where claims are made and compensation is given for financial loss, the risks are identified in advance and conveyed to the customer to prevent the risks from happening. In the unlikely event the risk manifests, we will transform into high-value- added insurance that reduces the impact, seamlessly assisting for a quick recovery.

We are making various efforts to promote this CSV x DX strategy globally, including building a database that shares knowledge and expertise across the Group and building a

digital human asset development program in collaboration with universities, as well as a problem-solving program to discover start-up companies in Silicon Valley in the United States. In tandem with building such a foundation, we are also focusing on changing the behavior and mindset of our employees. One initiative is the Digital Innovation Challenge Program which helps to foster digitally minded employees. We will contribute to the sustainable growth of the Group by having each and every employee square up to the issues in society and seek solutions using digital technology with the aim of putting these solutions into practice in society.

(Digitalization Promotion)

We will create new business that solves social issues by combining the strengths of MS&AD with DX.

Transform Products and Services

Conventional

Compensation (guarantee) for financial

Insurance

loss due to accident or illness

Insurance premiums with greater

... Utilizing such to provide insurance

Driving behavior

Subdivision of

customer satisfaction...

Healthcare data

services with greater customer

data

natural disaster risk

Future products

satisfaction

Quick

Communicate and prevent risks

Compensate (guarantee)

Minimize

and services

impact

recovery

A rapidly changing society creates many risks, and creates demand for mitigating these risks. The Group will accurately grasp such demand and provide solutions to turn changes in the business environment into a source of growth. Digital transformation (DX) contributes significantly to solving these social issues. The Group will promote its CSV x DX strategy to solve social issues using DX, thereby achieving sustainable growth.

The Group's diversity is a great strength when it comes to pushing forward with the CSV x DX strategy. By

wealth of data collected from inside and outside the Group, we have the power to expand globally into future growth markets. Leveraging these strengths to move ahead with the CSV x DX strategy will transform our products and services as well as our sales channels and sales techniques, ultimately leading to the creation of new business. By sharing our transformation initiatives across the entire Group to further strengthen global cooperation, we will expand our business, not only in Japan, but also from Asia to the rest of the world.

						For example...
Safety driving		Accident		Road rage
	prevention
advice			deterrent
	alerts			Automobile
Flood damage				Measures
forecasting		Weather alerts		against
			cyberattack		Facility & Business Premises
Health		Disease		Mental-care
promotion		prevention			Healthcare

Automatic call out to emergency services in the event of an accident

Flood damage surveys

using drones and AI

Health recovery

Quick accident

settlement using video

Repair of damaged

facilities

Prevention of serious

diseases

etc.

understanding customers' diverse needs and utilizing the

Seamlessly providing safety and peace of mind to customers

Building a Foundation for Promotion

Digital Innovation Challenge Program

Concrete Rollout of the CSV x DX Strategy

							Rollout of the CSV x DX Strategy
Our Strengths							Transform products
						and services
Diverse partnerships
Diverse						Transform sales channels
						and sales methods
Largest agent network in Japan	needs								Global
			CSV			Create new business
Largest customer base in Japan	Diverse							rollout
Group comprehensive strengths	data			DX					Accelerating
(diverse Group companies)
							Develop digitally minded		Group growth
Network spanning
						human assets
49 countries and regions	Wide range of
	rollout						Share knowledge
Presence in Asia,
capability
a future growth market							Group-wide

Change the mindset

of employees

Foundation for promoting the CSV x DX strategy

Looking for paid and free data business ideas

Entrants

Nine areas in which the government and the Keidanren (Japan Business

Data owned by each

Federation) are expected to analyze and utilize data

Group company

Healthcare

Finance

Living

Approx. 2,800

x

Mobility

Infrastructure, disaster

Tourism

Group-wide

Third-party data

prevention and mitigation

Manufacturing

Agriculture, forestry and

e-Administration

fisheries

Human Asset Development Program

MS&AD Digital College from Kyoto

Data Science Training

MS&AD Digital Academy

Collaboration with INIAD

Joint development with KUAS (Kyoto

(the faculty of Information Networking for

Collaboration with Shiga University

University of Advanced Science)

Innovation and Design at Toyo University)

Building a Database to Share Knowledge and Expertise Group-wide*1

Use Examples

Aggregate information

Accumulate and share

Use Examples

on start-up companies

•Creation of collaborative projects

business ideas that MS&AD

•Development of digitally minded

that have relationship

with startups

Insurance Group employees

human assets within the Group

with MS&AD Insurance

Domestic and overseas

•Solving issues in business

have come up with*2

•Share ideas across the Group to

partner companies

Group*2

Group companies

create new business

*1. Collaboration with Amazon Web Services (AWS) Japan and Scalar

*2. Develop database for Group companies to share startup information and business ideas

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Strategy and Performance

CSV x DX: Case 1

Cyber Risk

	Message from Management	MS&AD's Value Creation	Strategy and Performance	Corporate Governance	Appendix	Data Section

Upholding company safety with a one-stop service from cybersecurity measures to compensation in case of incident

While the spread of information technology (IT) has dramatically improved convenience and productivity, there are many cases where confidential corporate information is leaked due to cyberattacks or unauthorized access, and cases where business is interrupted. According to results from a survey conducted by MS&AD InterRisk Research & Consulting, the level of priority in terms of mitigating against cyber risk is lower than other management issues, regardless of the size of the company. However, as the risk of cyberattack is expected to increase in the future, security measures will doubtless be positioned as an even more important management issue in the future. The MS&AD Insurance Group seamlessly provides,

alongside cyber insurance, a series of risk identification, defense, detection, response, and recovery services as measures to increase

protection against cyberattack.

Social Impact

Companies and	Just over
organizations	20,000
protected against	(FY2020)
cyber risks	* Number of MS&AD Insurance Group policies for
	cyber insurance, etc.

• Countermeasures against cyber risk protect not only the

company but also stakeholders, such as customers and

business partners, from damage caused by information

leakage and business interruption, helping to improve the

company's reputation.

• By quickly recovering from damage caused by

cyberattacks, financial damage resulting from business

interruption and indemnity liability can be minimized,

leading to more stabilized company management.

• Expanding telework to safe environments enables flexible

work styles unconstrained by time or place. As well as

Creation of Business Opportunities

In the age of the IoT where all

things are connected,

importance of cybersecurity

measures is expanding

Japan's Cybersecurity Market

¥1,023 billion by 2025

Source: IDC Japan

Global Cybersecurity Market

$534.5 billion by 2030

Social Issues

Rapidly increasing cyberattacks

• Along with an increasing number of cyberattacks year on year, more wide-ranging damage is taking place, from data theft to obstruction of business. Moreover, cyberattacks are becoming ever more sophisticated and complex with not only direct attacks on an organization but also attacks via business partners, etc.
• The level of priority in terms of mitigating against cyber risk is lower than other management issues, regardless of the size of the company.
• There is an urgent need for companies and organizations to take measures regardless of industry or scale.

Solutions

Seamlessly developing services starting from specifying risks using digital technology

• Seamless rollout of a series of services

Development	Specifying		Response	Insurance
of organizational	Defense and detection
risks	and recovery
framework

Specifying risks using digital technology

• In partnership with Verizon Japan:

Conduct internal risk assessment

service based on questionnaires.

• In partnership with BitSight Technologies:

Measure and evaluate the security

situation based on externally observable

information.

• Package the "Bouken Cyber" 24/365

service, which aims to enable small and

medium-sized enterprises to respond to

increasingly ingenious cyber-attacks not

only through defensive measures, but

also by rapidly detecting intrusion threats

and initiating the response in

emergencies. In April 2021, this was

helping to create a good work-life balance, it also leads to

regional revitalization and securing a labor force in a time of

declining population.

Economic Impact on the Company

	(year on year)
Policy	Approx.
growth rate	(FY2020)150%

• • Growth rate in number of MS&AD Insurance Group policies for cyber insurance, etc.
• Prevention of serious cyber incidents and support for quick recovery in the event of damage avoids extensive harm to customers and at the same time leads to reduced insurance claim payments.
• By providing various services related to cybersecurity for SMEs, presence in the SME market as a whole will be improved, leading to proposals for other insurance policies.
• In business environment terms, revisions to the Act on the Protection of Personal Information scheduled to come into effect in April 2022, will most likely increase the need for cyber insurance as it will become mandatory to report to the Personal Information Protection Commission and notify those affected in the event of an information leak due to unauthorized access.

From 2020 to 2030

11.8% annual growth

Source: Report Ocean 2021

• Expansion of cybersecurity measures in an IoT society where all things are connected
• Expansion of cybersecurity measures for automobiles in preparation for connected cars and autonomous driving
• Expansion of cybersecurity measures due to increased use of e-commerce
• Expansion of cybersecurity measures in telework, expected to be in active use for business continuity in the event of new threats such as infectious diseases and frequent natural disasters
• Possible to approach overseas companies with expertise acquired, leading to sales expansion and new market development

Increased searching by attackers

The number of communications					500.1billion
thought to be "preliminary actions,"
where criminals attempt a
cyberattack online by searching for
devices with weak security, has
rapidly increased to about 500.1
billion per year in 2020.
4.54billion
	2011	2012	2013	2014	2015	2016		2017	2018	2019		2020(FY)

Source: NICTER Observation Report 2020, The National Institute of Information and Communications Technology

registered as a Cyper Security Support

Service with the Information-technology

Promotion Agency.

• In collaboration with Vdoo: Identify and

evaluate cybersecurity risks in IoT

devices developed and manufactured by

customers and those used in factories.

• In collaboration with BitSight

Technologies and Kovrr: Combine basic

input data provided (sales, profit, number

of employees, etc.) with external

assessment of customers used by

BitSight, to calculate probable maximum

loss (PML) (Kovrr model) and publish

results in a report.

Expanding Services through Collaboration

Cyber-attacks are becoming more sophisticated every day. To companies that are active at the global level, the MS&AD Group is quick to propose cutting- edge technology and services, while providing simple and easily understood technologies to the small and medium-sized enterprises that prop up the Japanese economy. In addition, its business partnership with an Israeli start-up company enables the Group to incorporate the latest knowledge, and it is also raising investment limits for the corporate venture capital fund it set up in Silicon Valley to focus on creating innovation.

Going forward, the MS&AD Group will continue to provide a variety of cyber insurance and services. In addition to helping resolve the social issue of cyber risks that threaten the foundation of industry, we will also use them to open the way to further growth for the Group.

Takeshi Doi

Market Development Dept., MS&AD InterRisk Research & Consulting, Inc.

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Strategy and Performance

CSV x DX: Case 2

Data Business

Message from Management

MS&AD's Value Creation

Strategy and Performance

Corporate Governance

Appendix

Data Section

Supporting solutions to social issues to help realize a safe and secure society through new services that utilize data

With the progress of digital technology, more and more data is being collected from our lives and businesses as we are told that the analysis and utilization of data is essential for strengthening company competitiveness.

The MS&AD Insurance Group aims to create new business to develop and expand a data business that goes beyond the current framework of insurance by collecting and utilizing such data.

For example, by utilizing big data and the latest analytical algorithms, we can visualize and optimize the risks faced by companies to provide high-value-added services that contribute to solving social

issues. These services utilize all sorts of data such as Smart Mobility Telematics that exhaustively detects dangerous behavior that leads to accidents, and scoring points for safe driving, from a large amount of driving data obtained

using telematics technology and RisTech*, designed to solve problems.

Social Impact

Number of companies

collaborating on RisTech

Collaborative efforts

64

Considering262

(Year-to-date as of the end of fiscal 2020)

• Contributing to solve corporate issues in various fields,

such as disaster prevention and mitigation, mobility,

healthcare, and smart cities, by utilizing and analyzing data

owned by business partners and other statistical data, in

addition to policy and accident data.

• Enabling the effective use of various data not utilized to

date due to lack of specialist analytical staff and inability to

Creation of Business Opportunities

Unlimited possibilities created by connecting all kinds of data

Data trading market scale forecast

(worldwide)*1

$500 billion in 2022 $708 billion in 2025

Connected car market scale

forecast (worldwide)*2

$373.4 billion in 2030

*1 Source: Data Monetization Market, Transparency Market Research

*2 Source: Report Ocean

Social Issues

Diversifying,

Complex Challenges and Needs

Smart Mobility and Telematics

• New risks need to be addressed with technological innovations related to mobility and telecommunications.

Regional Revitalization and Smart Cities

• The concept of smart cities and regional revitalization are being promoted in response to population decline and urban concentration.

Solutions

Initiatives on Various Themes

and Areas That Can

Reach the Issues for Society and

Industry as a Whole

Smart Mobility and Telematics

• In Japan, in collaboration with a manufacturer of on- board equipment (digital tachographs), build an accident forecasting model, helping to reduce the number of accidents, by combining automobile data (acceleration, deceleration and driving time, etc.) with our own accident data.
• Global rollout of new products and services that utilize telematics technology, such as with establishing the insurance software development company MOTER Technologies in the United States.

Regional Revitalization and Smart Cities

• Make efforts to support local governments with aging

infrastructure by installing image analysis AI that detects

damaged parts of the road on a dashcam specifically for

the "Mimamoru" dashcam-based automobile insurance.

• To promote DX in local public organizations, research

process large quantities, leading to improved business

operations for companies.

Economic Impact on the Company

Increased	Approx.
insurance	(Year¥-to17.5-date as of the end of fiscal 2020)
premiums thanks
billion
to RisTech

• By presenting data analysis results of value, we can improve our presence, increase our top line, and improve our profitability.
• By collaborating with business partners through the use of data, it is possible to create shared value with society beyond the company framework.

• Increase in data that can be obtained from connected cars, expanding the scope of utilization globally
• Increase in expertise for solving problems in local communities using data, leading to wider ranging comprehensive agreements with local governments
• Working to realize smart cities, helping to maintain and create vibrant cities
• Using collected data to expand the range of products and services beneficial for health promotion, pre- symptomatic illnesses and preventing disease, to realize a society of health and longevity
• Expand the climate change impact analysis service due to an increase in natural disasters caused by climate change

Climate Change

• Global warming and climate change need to be addressed.

and develop solutions from the perspective of

consumers together with partner companies, local

public organizations, and start-up companies that help

solve social issues.

Climate Change

• Climate change impact analysis utilizing technologies of investee startups.

Utilizing Data as a Source of Value Creation

Centered on CSV x DX x GLOBAL, the data business is one of the key pillars of the Group's growth strategy. RisTech and the US data business are initiatives unique to the Group. We will globally rollout strongly linked initiatives while taking advantage of the characteristics of each company.

• This service is provided by Mitsui Sumitomo Insurance in collaboration with Accenture to visualize and optimize the risks faced by companies by utilizing big data and the latest analytical algorithms to facilitate solutions to issues.
  We aim to contribute to the realization of a safe and secure society by solving various social issues, such as support with measures against earthquakes and floods, by combining Mitsui Sumitomo Insurance's expertise on accident and disaster data, etc. with the diverse industry knowledge that Accenture has cultivated through consulting in the global digital technology sphere.

In addition, we will solve social and regional issues and grow together by seeing the risks arising from changes in the social environment and industrial structure as growth opportunities, collaborating with various companies to create new business that utilize digital technologies and data.

Kensuke Onuma	Yutaka Matsui
Data Solution Section	Digital Strategy Department
Corporate Planning Department	Mitsui Sumitomo Insurance Co., Ltd.
Aioi Nissay Dowa Insurance Co., Ltd.

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Strategy and Performance

CSV x DX: Case 3

TCFD Support

Message from Management

MS&AD's Value Creation

Strategy and Performance

Corporate Governance

Appendix

Data Section

Providing services that assess impacts of natural disaster risk associated with climate change to support corporate information disclosure

In recent years, natural disasters, such as droughts and large-scale floods, have occurred frequently all over the world, greatly impacting corporate activities. Under these circumstances, the Task Force on Climate-Related Financial Disclosures (TCFD) established by the Financial Stability Board (FSB) recommends that companies disclose climate-related risks as part of their financial information.

Companies are expected to assume a number of different climate change scenarios and explain how resilient their businesses, strategies and financial plans are. As such, MS&AD InterRisk Research Institute & Consulting has partnered with Jupiter Intelligence of the United States,

a company in which MS&AD Ventures invests, to develop a service that analyzes and assesses the impact of intensifying climate change

on companies based on future scenarios.

Solutions

	Social Impact
Number of	6,110 sites
sites analyzed
by Jupiter	(Between July 2020 and end of June 2021)
Intelligence

• Companies can understand in advance potential damage caused by natural disasters to their factories and offices.
• Strengthening capability to respond to huge accumulated risk from natural disasters.
• Risks of investment and loan portfolios can be understood at financial institutions.
• Sophisticated business decisions (location and supplier selection, portfolio review, disaster prevention measures, etc.) can be made based on climate change factors, leading to improved resilience for society as a whole.

Creation of Business Opportunities

Rollout of one-stop services including support for natural disaster countermeasures in Asia, where the risk of flooding is high

Total global GDP impacted by river

flood damage at a frequency of

once-in-10 years in 2030

$17 trillion

Estimated that half of this

will occur in Asia,

especially China

Social Issues

Actualization and Further

Intensification of Climate

Change Risks

• There are concerns about the actualization of climate

change risk and its further intensification.

• The TCFD Recommendations, which require companies

and financial institutions assess, manage, and disclose

future climate change risks, are rapidly becoming

mainstream. In scenario analysis, it is necessary to

consider the physical risks, such as natural disasters that

will likely be exacerbated by the impact of climate change,

as well as various implications to business due to the

transition to a zero-carbon society (transition risks).

• Recently, an increasing number of companies are

conducting quantitative impact assessments using

carbon pricing assumed for each scenario, but for

physical risks, with the exception of some financial

institutions, there are only a limited number of detailed

quantitative assessment cases based on climate

change models.

Climate-Related Information

Disclosure Support in

Collaboration with Startups

• Collaboration between MS&AD InterRisk Research Institute & Consulting and Jupiter Intelligence, an expert in climate models.
• Jupiter Intelligence's system analyzes the risk of natural disasters, such as floods and storm damage, with a high level of accuracy (90m x 90m) all over the world.
• According to future temperature rise scenarios, AI simulations are conducted from 2020 to 2100 in five-year increments to predict maximum wind speeds in storms and flood depths.
• Estimated economic damage caused by flooding is also calculated using information held by MS&AD InterRisk Research Institute & Consulting. This supports corporate information disclosures in line with TCFD recommendations.
  Climate Change Impact Assessment Service for TCFD

	• Latitude and longitude of the site to
Customer	be assessed
• Asset value and number of floors in
Data	assessing the financial impact of
	flooding
River

Economic Impact on the Group

Growth rate	Year-on-year increase
of contracted	of approximately
consultations
in the field of	70% (FY2020)
climate change

• By providing support related to key management issues, medium- to long-term relationships with client companies are strengthened, helping to further dealings such as with insurance, services, and consulting.
• Expanding insurance market owing to synergies with insurance sales.
• Increased number of underwriting/product development and services in light of climate change risks, and more sophisticated natural disaster risk management in the MS&AD Insurance Group.
• Through our impressive track record, enhancing the reputation of the Group and resulting in growth in consulting-related outsourcing

and India

(World Resource Institute 2020 Report)

• The needs of companies with assets, manufacturing bases, and supply chains in Asia, where the risk of flooding due to climate change is highest, will expand.
• Offering services other companies cannot by providing a one-stop service up to support for on-site natural disaster countermeasures.
• By expanding from analysis of business sites to assessments of value chains, it will be possible to provide new services.
• The scope of assessment indicators will increase due to improved model accuracy in Jupiter Intelligence's technology and the formation of a loan portfolio valuation scheme for financial institutions that utilize technology.
• Through the Group's services, Sumitomo Mitsui Banking Corporation discloses information in line with TCFD recommendations with sophisticated climate change scenario analysis. Climate change scenario analysis methods using AI technology may spread widely to Japanese companies as the basis for future information disclosure.

Number of institutions (worldwide) supporting TCFD recommendations

floods and	Assesses flood depth and
coastal	financial impact
floods

Global Assessment of the Impact of Climate Change on Natural Disaster Risk

1,400
1,200
1,000						Operating
800						companies
600
400						Financial
200						institutions
0	12/2017	6/2018	12/2018	6/2019	12/2019	5/2020
6/2017

Storm

Heat wave

Assessment

report

Assesses maximum wind speeds or probability of exceeding a certain wind speed

Assesses the average number of days per year when the maximum temperature exceeds 35 degrees Celsius

• Risk trends, overall and by site
• Financial impact of flood disasters, etc.

Our climate risk forecasting tool, Global Climate Score, is the most comprehensive and scientifically accurate service. It incorporates all of the world's best scientific climate models to forecast impacts for the requirements of customers around the world.

Most companies in the world continue to operate without an accurate picture of the climate change risks that affect them. Using this service is a huge step forward in terms of changing the management process. We have already heard from our customers that they are now able to predict risks more accurately.

Richard Sorkin, CEO

Jupiter Intelligence

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Creating New Business by Utilizing Data and Digital Technologies

The Digital Innovation Challenge Program

We have been holding the Digital Innovation Challenge Program since fiscal 2019 in order to promote digitalization. This is an initiative in which employees of 14 Group companies come up with ideas and use those ideas to solve social issues through open innovation.

In fiscal 2020, we called for business ideas that utilize third-partydata and data owned by each Group company, receiving more than 2,700 applications. After rigorous screening by data scientists and outside experts, 28 were taken up as innovation projects.

The idea of the dashcam data-sharingproposal is to enable accurate on-sceneverification by utilizing dashcam data so that more appropriate insurance claims can be settled. This idea came about from the desire to improve quality and operational efficiency in claims services and to create a better society with fewer disputes. What you feel through your work and the ideas that come from it are different. I think this Challenge Program has great significance in that it gives all Group employees the opportunity to participate, regardless of their position.

Tatsuya Ogawa

Akashi Service Center Hyogo Claims Department

Mitsui Sumitomo Insurance Co., Ltd.

Demonstration Experiments Underway based on Dashcam Data Sharing

Section 1Financial & Governmental Institutions Commercial Production Dept. Business Promotion Division

2nd, Mitsui Sumitomo Mitsui Sumitomo Insurance Co., Ltd. Insurance Co., Ltd.

Hirokazu Miyagishi

The world of agriculture, especially that of livestock, is far removed from the non-lifeinsurance industry, and although it is recognized as a huge market, there is by no means enough expertise. This initiative did not work with the resources of the Group alone. It was not until we formed an alliance with a livestock IoT venture company that we were able to build a system to solve long-standingproblems for our customers. With the spread of COVID-19we are in the

midst of a different dimension for environmental change, but we feel that the most important measure to make this change a growth opportunity for the Group is discovering and resolving social issues.

We are considering selling data, detected and collated by artificial intelligence from actual dashcam footage, to local governments to help inspect vital infrastructure. In collaboration with UrbanX Technologies, 10 local

Takaya Murao

In cooperation with Japan's public agricultural insurance scheme, we have developed an insurance product that compensates farmers for livestock veterinary fees not otherwise covered by insurance. By incorporating insurance into a behavior monitoring system for cattle that incorporates IoT sensors, cattle mortality rates have been reduced,

Strategy and Performance

FOCUS

A System for Implementing CSV Initiatives

Under the banner of "a resilient and sustainable society" as our	business, it is essential for each Group employee to deepen
vision for society in 2030, the Group is promoting various efforts	their understanding of CSV and the SDGs. As such, the MS&AD
toward creating shared value (CSV) with society using the SDGs	Insurance Group is implementing various initiatives with the aim
as leading marks. In order to solve social issues through our	of raising awareness among each and every employee.

Message from Management

MS&AD's Value Creation

Strategy and Performance

Corporate Governance

Appendix

Data Section

40,000 Group Employees Engaged in CSV

The Sustainability Contest 2020

The Sustainability Contest, held for the third time, commends examples of efforts that lead to the sustainability of society and the Group, as well as to CSV, through the tasks and business activities employees engage in every day. A total of 354 applications were submitted, an increase in number from 2019. Examples included initiatives and proposals for social issues that have emerged since the pandemic, such as the increasing need for a contactless customer environment and a rise in remote work.

Selection criteria

• Social impact
• Communication
• Group synergy
• Approach
• Potential for expansion

Corporate

Winners Solving Long-Standing Issues in the Livestock Industry with IoT and Insurance

helping to stabilize the management of livestock farming and at the same time preventing losses for public agricultural insurance. In addition, by improving the working environment for veterinarians, such as by dramatically reducing unnecessary visits, it is contributing to the resolution of issues that have concerned the livestock industry for many years.

governments are conducting demonstration experiments to support the maintenance of social infrastructure using dedicated dashcams.

Governance

1. Chairman's Message
2. Corporate Governance System and Initiatives

1. Corporate Governance Evolution, Director/Audit & Supervisory Board Member Composition
2. Corporate Governance System
3. Task-specificCommittee Approach to Value Creation
4. Skills Matrix of Directors, Audit & Supervisory Board Members, and Executive Officers
5. Evaluation of Board of Directors Effectiveness and the Analysis Process
6. Efforts Aimed at Improving the Operation of the Board of Directors, Remuneration Plan Targeting Strengthened Governance

101 CEO Succession Plan

102 Our Management Team

105 Message from an Outside Director

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