Ajinomoto: Vision: We aim to be a group of companies that contributes to human health globally by continually creating unique value to benefit

customers. 1. To become a global group of food companies centered on the world's No. 1 seasoning business. 2. To become a global group of aminoscience companies that contributes to humankind with the world's No. 1 amino acid technology. 3. To become a group of health-promoting companies with a scientific approach to good taste and health
Due to fluctuation of raw material and fuel prices, foreign currency risk, and intensifying competition in bioscience products and fine chemicals business etc., our business environment has become severe. However, we will focus our efforts on strengthening profitability in existing businesses. Moreover, we will implement additional measures such as developing new businesses. As for return to shareholders, Ajinomoto seeks a balance between short-term and long-term returns. Stable dividends are the key to returns over the short term. Over the medium and long term, we seek to steadily increase dividends as we enhance corporate value. Shareholders have received the benefits of our stable growth, and will continue to do so. In addition to developing original technologies, strengthening our competitiveness as a creative company, and delivering high value to shareholders, we aim to contribute significant advances to food and health and ultimately to a better life for all

DISTRIBUTION AGREEMENT 1. Ajinomoto manufactures, advertises, markets, sells, and distributes dietary supplement (the Products) which are specified in Exhibit A hereto and registered separately by Registration Form (Exhibit B). Exhibit A will be updated from time to time by Ajinomotos sole discretion. The Products are branded under the trademark specified in Exhibit A hereto and other trademarks, which it may from time to time adopts (the Marks). Distributor desires to advertize, market, sell and distribute such Products. 2. Distributor represents and warrants that it accurately completed all information in the form set forth as Registration Form hereto correctly and completely. Distributor represents and warrants that it has full power, authority and legal capacity to enter into this Agreement and bind such company or organization. 3. Distributor acknowledges that: (a) the Marks are owned by and constitute valuable property of Ajinomoto; (b) that Ajinomoto has the exclusive right to restrict, limit, and otherwise control use of the Marks; and (c) that certain abuses exist in the market which undermine the integrity and value of the Marks and the Products, specifically in the use of the Marks or some variation thereof in connection with the advertising, promotion, marketing or sales of the Products through the Internet which irreparably harm Ajinomoto. 4. The restrictions in this Agreement apply to all sales of the Products or the use of the Marks in connection with the advertising, promotion, marketing and sales of the Products, including Products previously purchased from Ajinomoto, whether delivered or not, and all Products which Distributor is permitted to sell under any currently existing agreement(s), or in the future under this, or any other agreement with Ajinomoto.

5. Distributor shall not advertise, offer, market, distribute or sell the Products or exploit the Marks in any manner on or through Internet Search Engines or Directories. Distributor shall NOT sell the Products outside the United States. 6. (a) Distributor shall NOT include any Product trademark, or similar variations, in the meta tags and similar devices of any web site HTML code. (b) Distributor may not purchase, obtain or use any keywords from Search Engines, so as to redirect traffic to the Distributors web site or any other web site; (c) Distributor may not purchase the Marks, or any variations thereof, for use in text links, banner ads, pop-up ads or any other type of ad that could be associated with a keyword campaign; (d) Distributor may not purchase or obtain additional domain names (URLs) with any part of the Marks, or any variations, included as part of the address. Ownership of all domain names Distributor currently uses which include the Marks and all variations, must be transferred to Ajinomoto no later than 30 days after execution of this Agreement; and (e) Distributor may not outsource Search Engine marketing efforts to any third party. 7. Distributor shall not make any structure-function claims for the Products without the prior approval of Ajinomoto. Distributors shall not repackage or relabel the Products or in anyway modify the packaging, labeling or any other aspect of the 2Products. Distributors shall submit proposed advertising copy to Ajinomoto for approval prior to use. Ajinomoto shall have 10 business days to reject or modify such copy after which Distributor may assume such copy is acceptable to Ajinomoto. 8. (a) Ajinomoto warrants to Distributor that the Products sold by it shall conform to the description of the Products as provided to Distributor by Ajinomoto in its standard Product catalog at time of shipment to Distributor. Ajinomotos sole obligation and Distributor's exclusive remedy under these warranties is for Ajinomoto to replace the defective Product if the problems are reported during the warranty period. If Ajinomoto is unable to replace any such Products, Ajinomoto will refund the Product price; (b) Ajinomoto will have no responsibility under any warranties or for any damages to the Products if the Products are: (i) improperly handled after delivery to carrier in good order; (ii) subject to extreme atmospheric conditions; (iii) misused in any manner; (iv) modified in any way, including but not limited to by incorporation into or integration with other Products; (v) not used in accordance with accompanying instructions, industry standards and practices; or (vi) used for a different purpose than intended. EXCEPT AS EXPRESSLY SET FORTH, AJINOMOTOMAKES NO WARRANTIES WITH RESPECT TO THE PRODUCTS EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO ANY IMPLIED WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OR FITNESS FOR A PARTICULAR PURPOSE; (c) Distributor represents and warrants that: (i) Distributor is purchasing the Product for resale to Distributor's patients; (ii) Distributor will not request delivery of any Product to a state or area that Ajinomoto has indicated is not a valid destination for shipment; and (iii) Distributor has obtained all necessary licenses, permits and privileges required for the purchase of a Product for all applicable jurisdictions. 9. Either party may terminate this Agreement upon 30 days written notice to the other party and Ajinomoto may terminate at time immediately upon breach.

Exchange Rate Risk The Group is further establishing and strengthening its global manufacturing and supply structure. The Group operates in 23 countries and regions including Japan, with manufacturing plants at 104 sites in 14 of these countries and regions. The relative importance of overseas operations is therefore very high. In the previous fiscal year and the fiscal year under review, sales to outside parties in countries other than Japan (i.e. Asia, America and Europe) were 346.9 billion and ¥358.4 billion, respectively, comprising 29.1% and 30.6% of consolidated sales. Operating income derived from these regions in the same periods was 26.4 billion and 42.6 billion, comprising 64.7% and 66.7% of consolidated operating income. Ajinomoto hedges these associated exchange risks with forward exchange contracts and other mechanisms, but there remains the potential for exchange rate fluctuations impacting on business results. Changes in Market Conditions In the amino acids business Ajinomoto handles feed-use amino acids. The unit price for products in this market tends to be affected by changes in the grain market and by demand trends for feed-use amino acids. Ajinomoto seeks to reduce and diversify such risks by handling a variety of amino acids (Lysine, Threonine and Tryptophan), while also working to stabilize and improve profitability by reducing costs related to fermentation technologies. However, the possibility remains of Group financial performance being affected by fluctuations in the grain market and demand trends. Natural Disasters, Social Disruption, Political Changes Building on business foundations in Japan, Ajinomoto is actively pursuing development in overseas markets. Some of the risks accompanying this development are as follows, and each of the foreseeable risks outlined could impact on Group performance if they occur. Unforeseen implementation of or changes to regulations, such as unfavorable taxation Unforeseen and unfavorable economic or political situations Social disruption brought about by events such as terrorism, war or epidemics Natural disasters such as earthquakes