As a basic policy for our business operations, the NOF Group has established the following Conduct Guidelines, philosophical and ethical guidelines and goals of ethical conduct that serve to communicate the kind of actions and attitude needed to carry out Group business activities.

In addition, to properly fulfill our corporate social responsibility, we established the NOF Code of Ethical Conduct on April 1, 2002. The Code of Ethical Conduct firmly puts in place the fundamental ethical guidelines and principles underlying our Corporate Philosophy and Code of Conduct for all the company executives and employees who work hard to achieve the values embodied in them.

This Code establishes concrete provisions from a legal compliance and business ethics perspective that all company executives and employees should adhere to as they conduct day-to-day business. The Code stresses our obligation to behave responsibly and sincerely in the course of every activity both within and outside the company.