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Code of Ethics

In the wake of the shares-for-favors Recruit scandal, we realized that compliance does not refer to merely complying with laws and regulations. Rather, compliance refers to appropriate conduct by a company and its employees that satisfies the expectations of society. Following the Recruit scandal, we established our Management Philosophy, Three Management Principles, and Code of Ethics as universal guidelines that govern our conduct.

Recruit Group Code of Ethics

Our Code of Ethics describes standards of conduct that apply to all officers and employees of the Recruit Group as members of society.

Introduction
In light of the social significance of the business, employees of Recruit Group shall recognize their responsibilities as a member of society and engage in moderate and ethical behavior at all times.

Establishment and revision history:
Established on November 26, 2013
Effective on January 1, 2014