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Customer-Oriented Business Conduct

Resona Basic Policy on Fiduciary Duty

To ensure we execute truly customer-oriented initiatives in the various financial services we provide at Resona Holdings, as well as at Resona Bank, Saitama Resona Bank, and Resona Asset Management under the Resona Group (hereinafter, “Resona Group”), we have established and hereby announce the Resona Basic Policy on Fiduciary Duty, which is based on our corporate mission of “live up to customers' expectations”, including in the sale of financial products and assets under management.

Each Group company will implement specific initiatives aimed at fulfilling the expectations of our customers based on this policy and make regular announcements on the status progress. In addition, we will pursue continual reforms, including reviewing this policy regularly, in order to be a Group chosen and supported by customers.

I Basic Stance

  • 1.As a fiduciary entrusted by customers, we will, with our high specialization and ethics, continuously provide high quality financial services with customers’ best interest in mind, while placing the greatest value in the joy and happiness of customers.
    • We will strive to provide truly customer-oriented, high quality financial services and pursue the most optimal profits for customers to continuously grow our customer base and further enhance the existential value of the Resona Group.

II Provision of Optimal Services

  • 1.We will provide appropriate information and explanations and deliver products and services suited to customers tailored to customers’ financial knowledge, experience, assets and purpose of purchase.
    • We will provide appropriate advice based on economic and market conditions as well as changes in customers’ assets and life events, always maintaining a customer-oriented stance.
    • We will strive to propose the right products tailored to individual customers, considering customer’s future life plans and any unmet financial needs. We will only provide products or services that truly benefit customers.
    • We will aim to create a lineup of customer-oriented products that satisfy a wide range of customers by utilizing our long-standing know-how in pension asset management, without consideration given to our own interests or those of our affiliates.
  • 2.We will provide appropriate and easy-to-understand explanations that customers can fully understand; not only about the benefits of products or services, but also other important information such as risks and fees.
    • We will not only provide fact-based explanations, but also never provide information that could mislead customers, such as assertive explanations about uncertainties.
    • Fees and compensation received from customers will be set at an appropriate level for the services we provide in terms of advice, after-sales follow-up, and running costs concerning the purchase of products or services.
  • 3.We will strive to increase convenience with regard to the method, time and place for explanations of products or services, and base these on customers’ intentions.
    • We will strive to follow the requests of customers in regard to the time and place of providing explanations about products or services over the telephone or in person.

III High Quality Asset Management

  • 1.We will pursue stable medium- to long-term added-value through consistent investment strategies based on careful research and analysis in order for customers to benefit from the performance of diversified investments made with a long-term time horizon. At the same time, we will strive to provide low cost, high quality asset management services in a sustainable manner.
    • We will enhance our specialized skills through daily self-refinement and pursue profits for customers with a high level of ethical values and integrity without being satisfied with the status quo, aimed at achieving higher quality assets under management and a robust asset management structure.
    • We will aim to be a group of professionals that live up to the trust of customers by facilitating two-way communication across organizations.
  • 2.We will act as a responsible institutional investor, including holding constructive dialogue for improving the corporate value of portfolio companies and encouraging their sustainable growth, in order to pursue the profits of customers (beneficiaries).
    • We endorse and embrace the principles of the “responsible institutional investor” in Japan’s Stewardship Code and share our commitment to acting as a responsible institutional investor.
    • We will strive to maximize added-value through the improvement of corporate value and sustainable growth with a medium- to long-term perspective based on sufficient understanding and analysis of not only the financial information of portfolio companies, but also non-financial information as well, including response to Environmental, Social and Corporate Governance (ESG) issues.

IV Human Resources and Organization

  • 1.We will continue to enhance the knowledge and skills of our workforce, using an appropriate evaluation and compensation system, to provide the best products and services to our customers.
    • With customer trust a top priority, we will not engage in unreasonable sales activities for our own gains in terms of business targets or sales performance which do not benefit customers.
    • Our employees will continuously acquire a wide range of knowledge and enhance their skills in order to deliver their best performance to customers.
  • 2.We have established policy on managing conflicts of interest to ensure proper management that prevents conflict of interests between our Group and customers, or between customers.
    • We have established a system to prevent conflicts of interest between Resona or its Group companies and customers, or between customers, through identification and categorization of business transactions that are potentially conflicts of interest, and we engage in management with pre-determined procedures (separation of departments, disclosure to customers, and modification of transaction conditions, etc.).