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Chuo Mitsui Trust : Establishment of a Third Party Committee

04/09/2012 | 03:23am US/Eastern
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To whom it may concern,
April 9, 2012
Sumitomo Mitsui Trust Holdings, Inc. (Securities Code: 8309 TSE, OSE and NSE)

Establishment of a Third Party Committee

On March 21 of this year, the Securities and Exchange Surveillance Commission ("SESC") announced that they made a recommendation to the Prime Minister and the Commissioner of the Financial Services Agency to issue an order for payment of an administrative monetary penalty against former Chuo Mitsui Asset Trust and Banking Company, Limited ("CMAB", at that time.), which is a subsidiary of Sumitomo Mitsui Trust Holdings, Inc. The SESC recognized that former CMAB, acting as an investment manager of a fund, violated the Financial Instruments and Exchange Act (insider trading) with respect to the sale and purchase of shares in July 2010.
Sumitomo Mitsui Trust Holdings, Inc. has already established an internal special investigation committee comprised of members, not only from within the company, but also outside experts ("Special Investigation Committee"), and has arranged for an additional investigation to fully understand this matter and evaluate preventative measures. Additionally, Sumitomo Mitsui Trust Holdings, Inc. hereby announces that it has also established a Third Party Committee, which is independent and consists of outside experts in order to further evaluate and verify the adequacy of the scope, method, process and other aspects of the investigation conducted by the Special Investigation Committee. The following are specific details regarding the purpose of the Third Party Committee.
1. Purpose of the Third Party Committee
(1) To evaluate and verify the adequacy of the scope, method, process and other aspects of the investigation conducted by the Special Investigation Committee.
(2) To e valuate and verify the adequacy of the sufficiency of the measures implemented to prevent the recurrence of a similar act as evaluated by the Special Investigation
Committee.
(3) To propose additional measures to prevent a similar incident from recurring, as necessary.
2. Constitution of the Third Party Committee
Chairman Kunio Hamada, Attorney at law (former Justice of the Supreme Court) Commissioner Tetsuo Ito, Attorney at law (former Deputy Prosecutor-General of the
Supreme Public Prosecutors Office)
Commissioner Masao Kishida (Professor of Waseda University Graduate School of
Finance, Accounting and Law)
3. Schedule (tentative)
(1) April 9 (today) To establish the Third Party Committee
(2) From early to mid-May To compile the report (which will be released publicly)
End
For further information, please contact
IR Department, Sumitomo Mitsui Trust Holdings, Inc. Telephone: +81-3-3286-8354 Fax: +81-3-3286-4654

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