Transparency of taxes

The MAEDA Group companies have complied with the applicable laws and international rules based on the “MAEDA Corporate Conduct Charter,” “MAEDA Code of Conduct” and “MAEDA Code of Ethics” and have sought to realize fair and free competition as well as fair transactions. We have also aimed to establish/improve applicable rules and internal structures, and familiarize executive officers and employees of all Group companies with those norms in order to realize rigorous and transparent accounting.
We are also working on tax affairs according to the following basic policies while adopting an attitude similar to the one above in principle.

1.Legal compliance
We seek to thoroughly comply with laws, regulations and rules concerning tax affairs in the respective countries or regions, in order to appropriately fulfill the tax obligation

2.Securing of transparency
We conduct timely and appropriate disclosure in accordance with laws and regulations of the respective countries or regions where the activities are underway.

3.Relationship with tax authorities
We strive to build a relationship of trust with tax authorities in the respective countries or regions through the timely and appropriate provision of information on tax affairs and faithful response to tax inspections, in order to ensure transparency and trust concerning tax affairs.

We seek to rationalize our tax burden by appropriately responding to changes in laws and regulations of various countries and regions and appropriately and effectively using tax burden relief measures. If it is assumed that the tax risk is high, we seek to reduce the tax risk by asking tax specialists for their advice or instruction as required.
In terms of tax practice, we seek to maintain and improve our compliance with tax affairs, for example by, conducting internal training for accounting personnel. If the tax authorities point out our problem, we promptly identify the cause of the problem and take appropriate corrective/improvement actions in order to prevent recurrence.

In the previous fiscal year, we conducted a joint workshop in which people in charge of tax affairs from the business companies of the INFRONEER Group participated. In the workshop, we share information about tax risk cross-sectionally in the Group, mainly by reporting tax inspection results. Concerning matters that were pointed out during tax inspections, we discuss how to prevent recurrence, etc. to improve compliance on tax affairs in the entire group. We also conduct workshops to improve the accounting and tax affairs knowledge focusing on young personnel in charge of accounting to introduce tax reform and share the accounting and tax affairs information of group companies.