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Corporate Structure

At the Annual General Meeting of Shareholders held in June, 2003, following approval of changes to the Company's Articles of Incorporation, the Company adopted a Committee System. This move was made in accordance with recent revisions to Japan's Commercial Code. The use of a Committee System will strengthen the Company's corporate governance by allowing the use of outside directors. The Company will use the new system to build an executive officer system that will enable HCM forcefully and speedily to implement management strategies, and to manage in a way that is fair and transparent.

Organization Chart

As of April 1, 2006

Organization Chart

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