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June 11, 2010

Regarding the Establishment of a Third Party Committee

On May 26 and again on June 11 it was announced that Mercian Corporation (code number 2536), Kirin Holdings Company, Limited's consolidated subsidiary, had engaged in inappropriate trading in its fishery feed business.

As a response, Kirin Holdings today established a third party committee to confirm the accuracy, validity, and independence of the auditing results of Mercian's internal investigating committee as well as to investigate the internal control status of all companies within the Group, including Mercian. The third party committee will also conduct a reassessment of the internal control status of the Group companies stipulated below.

1. Summary of the Third Party Committee

(1) Objective: Investigate the internal control status of Kirin Group companies (including Mercian Corporation) and provide a proposal regarding future governance practices
(2) Chair: Nobuo Gohara, lawyer
(3) Members: Toru Kajikawa, certified public accountant; the selection of other experts is pending
(4) Launch date: June 11

2. Assessment of Internal Control Status of Other Group Companies

(1) Instruct Group companies to perform self-assessment using internal control questionnaires
(2) Instruct Japanese and overseas subsidiaries to confirm the validity of outstanding receivables and inventories as of March 31, 2010. Receive a Management Acknowledgment from the president of each company
Additional note: On June 14, Takeo Kikkawa, Hitotsubashi University Graduate School professor, assumed the role of Third Party Committee member.

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