1. 2012
EDELMAN TRUST BAROMETER
JAPAN RESULTS
1 © Edelman, 2012. All rights reserved.

2. 2012 Edelman Trust Barometer – Japan Findings
METHODOLOGY OVERVIEW
GENERAL INFORMED INFORMED
PUBLIC PUBLIC PUBLIC
25-64 35-64
Twelfth annual study
Online survey in 25 countries
Indicates Global Data
30,000+ respondents
APAC Indicates Asia Pacific
1,000 general population respondents per country Region Data
Ages 18+ Indicates Japan Data
Oversample of informed publics*
500 respondents in U.S. and China & 200 in
all other countries
Ages 25-64
 (Trending data among Ages 35-64)
College-educated
In top 25% of household income per age group in
each country
Report significant media consumption and
engagement in business news and public policy
Asia Pacific (APAC) select countries:
India, China, Japan, South Korea, Indonesia, Singapore,
Australia, Hong Kong** and Malaysia**
Japan sample:
1,000 general population respondents
& an oversample of 200 Informed Publics
* This year Informed Publics were surveyed via online methodology instead of telephone
** New country included in this year’s study
2 © Edelman, 2012. All rights reserved.

3. 3 © Edelman, 2012. All rights reserved.

4. Nearly twice as many countries are now skeptics;
Japan falls to second from bottom in the “Trust Index”
2011 2012
GLOBAL 55 GLOBAL 51
Brazil 80 > China 76
UAE 78 UAE 68
Indonesia 74 Singapore 67
China 73 India 65 TRUSTERS
Netherlands 73 Indonesia 63
Mexico 69 Mexico 63
Netherlands 61
Singapore 67
Argentina 62 Hong Kong 61
Canada 58
India 56
Malaysia 57
Italy 56
Italy 56 NEUTRAL
Canada 55 Argentina 54
South Korea 53 Australia 53
Sweden 52 < Brazil 51
Japan 51 > Sweden 49
Australia 51 U.S. 49
Spain 51 > South Korea 44
France 50 Poland 44
Poland 49 U.K. 41 DISTRUSTERS
Ireland 41
Germany 44
France 40
U.S. 42
Germany 39
U.K. 40 < Spain 37
Russia 40 < Japan 34
Ireland 39 Russia 32
Composite score is an average of a country’s trust in all four institutions. Informed Publics ages 25-64 in 20 country global total (excludes Argentina, Hong Kong, Malaysia, Singapore and
UAE) and across 25 countries in 2012
4 © Edelman, 2012. All rights reserved.

5. Only 10% of Japanese people think the country is going in the right direction
WOULD YOU SAY THAT THINGS IN YOUR COUNTRY ARE GOING IN THE RIGHT DIRECTION OR HAVE THEY GOTTEN OFF ON THE TRACK?
In the right
direction
81%
Off on the wrong
track 78%
75%
73%
69% 69% 68%
67%
64% 65%
64%
60%
59% 59% 60% 59%
58% 58%
57%
55% 55%
51%
50% 48%
47% 48%
47%
40% 42% 41%
40%
36% 37%
34% 34%
32% 31%
31% 31%
26% 26% 27%
27%
25% 25% 25%
18% 20% 18%
17% 16%
12%
10%
Q15. In general, would you say that things in your country are going in the right direction or have they gotten off on the track? General Population in 25 country global total and across
25 countries
5 © Edelman, 2012. All rights reserved.

6. The Fragility of Trust: Focus on Japan
2011 2012
Informed Public Informed Public
TRUST IN INSTITUTIONS INFORMED PUBLICS – AGES 25-64
TRUST IN INDUSTRIES
Business Media NGOs Government
75%
- 12 - 21 - 26
Energy
29% -46
53% 47% 48% 36% 51% 30% 51% 25%
54%
Media
33% -21
55%
Financial services
38% -17
71%
Banks
51% -20
CREDIBLE SPOKESPEOPLE
-38
-23 70% -43 -55
-43
65% 67%
63%
59% -26 TRUST IN INFORMATION SOURCES
-30
48%
42% -17 -16 -26 -13 -13
39% 40%
32%
24%
22%
18% 16%
14%
8% Newspaper TV Radio Magazines
Technical Academic CEO A Person NGO Regular Financial/ Government
Expert or Expert Like Represent. Employee Industry Official
Yourself Analyst
Q11-14. [TRACKING] Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right using a 9-point scale where one means that you “do not trust them at all” and nine means that you “trust them a
great deal”. (Top 4 Box, Trust); Q16-26. [TRACKING] Please indicate how much you trust businesses in each of the following industries to do what is right. Again, please use the same 9-point scale where one means that you “do not trust them at all”
and nine means that you “trust them a great deal”. (Top 4 Box, Trust); Q119-126. [TRACKING] Below is a list of people. In general, when forming an opinion of a company, if you heard information about a company from ea ch person, how credible
would the information be--extremely credible, very credible, somewhat credible, or not credible at all? (Top 2 Box, Credible: Very + Extremely Credible); Q149-160. [TRACKING] Below is a list of places where you might get information about a company.
For each, please indicate if you trust it a great deal, somewhat, not too much, or not at all as a source of information about a company. (Top Box - % Trust A Great Deal) Informed Publics ages 25-64 in Japan
6 © Edelman, 2012. All rights reserved.

7. Globally, NGOs and business fall to 2009 trust level – government record decline
TRUST IN INSTITUTIONS – 18-COUNTRY GLOBAL TOTAL
NGOs
Media
Business
Government
80%
70%
59%
60% 57%
53% 54% 54%
52% 53%
53%
52% 49%
50% 51% 47%
46% 49%
47%
48% 46% BUSINESS
44% 46%
44% 45%
40% 43%
40% 38%
GOVERNMENT
30%
20%
2007 2008 2009 2010 2011 2012
Q11-14. [TRACKING] Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right using a 9-point scale where one means that you
“do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) Informed Publics ages 35-64 in 18 country global total (excludes Argentina, Australia,
Hong Kong, Indonesia, Malaysia, Singapore and UAE)
7 © Edelman, 2012. All rights reserved.

8. In Japan, trust in three of four institutions declines sharply
TRUST IN INSTITUTIONS – JAPAN
NGOs
Media
Business
Government
80%
70%
63%
61%
60% 57%
55% 54%
53%
51% 54%
53%
53% BUSINESS
50% 52% 47% 47%
45% 43% 50%
41%
45%
40% 43% 38% 38%
36%
30%
GOVERNMENT 28% 28%
20%
2007 2008 2009 2010 2011 2012
Q11-14. [TRACKING] Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right using a 9-point scale where one means that you
“do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) Informed Publics ages 35-64 in Japan
8 © Edelman, 2012. All rights reserved.

9. Majority of countries now distrust government; trust plummets in
Japan
TRUST IN GOVERNMENT
2011
Informed Public
2012
Informed Public
Trust Trust Steady Trust
88% 88%
85%
77% 78%
75% 75%
73%
64%
62% 61% 62% 62%
56%
53% 52% 54%
52% 52% 51%
50% 49% 49%
50%
44% 47% 45%
43% 43% 43% 42% 42% 43%
40% 39% 40%
38%
35% 35% 36%
33% 33% 33%
31% 31% 32%
28%
26%
25%
20% 20%
N/A N/A
Q11-14. [Government in General TRACKING] Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right using a 9-point scale where
one means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) Informed Publics ages 25-64 in 20 country global total (excludes
Argentina, Hong Kong, Malaysia, Singapore and UAE) and across 25 countries
9 © Edelman, 2012. All rights reserved.

10. Several mature economies see double-digit drops in business trust;
Trust in business remains steady in Japan
TRUST IN BUSINESS
2011
Informed Public
2012
Informed Public
Trust Trust Steady Trust
80% 81% 81%
78% 77% 78%
74%
71% 70% 69%
67% 67%
66% 65% 65%
64% 63% 63%
61% 62%
56% 56% 57% 57%
54% 54% 53% 53%
53% 52% 52%
50% 50%
50% 46%
48%
46% 46% 46% 44% 47% 47%
44% 43%
41% 41%
38%
34% 32%
31%
28%
N/A N/A
Q11-14. [Business in General TRACKING] Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right using a 9-point scale
where one means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) Informed Publics ages 25-64 in 20 country global total
(excludes Argentina, Hong Kong, Malaysia, Singapore and UAE) and across 25 countries
10 © Edelman, 2012. All rights reserved.

11. Japanese trust in five of 11 industries declines; Energy suffers worst decline
of 46 points
TRUST IN INDUSTRIES – JAPAN
2011 2012
Technology 78% Automotive 74%
Energy 75% Technology 74%
Telecommunications 75% Food and beverage 62%
Automotive 72% Pharmaceuticals 61%
Banks 71% Brewing and spirits 60%
Food and beverage 66% Telecommunications 58% - 17
Brewing and spirits 61% Consumer packaged goods 56%
Consumer packaged goods 60% Banks 51% - 20
Pharmaceuticals 60% Financial services 38% - 17
Financial services 55% Media 33% - 21
Media 54% Energy 29% - 46
Q16-26. [TRACKING] Please indicate how much you trust businesses in each of the following industries to do what is right. Again, please use the same 9-point scale where one
means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) Informed publics ages 25-64 in Japan
11 © Edelman, 2012. All rights reserved.

12. Media only institution to see trust rise globally, though trust
decreases in Japan
TRUST IN MEDIA
2011
Informed Public
2012
Informed Public
Trust Trust Steady Trust
86%
80% 79% 80%
72% 73%
70% 69%
67%
65% 65% 65%
61% 60% 61% 61%
59%
57%
54% 53% 53%
52%
50% 49% 50% 48% 49% 48%
46% 46% 45% 47%
45% 45% 43% 45% 42% 45%
41%
37% 37% 38% 38% 37%
37% 36%
35%
32% 33%
27%
22%
N/A N/A
Q11-14. [Media in General TRACKING] Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right using a 9-point scale where one
means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) Informed Publics ages 25-64 in 20 country global total (excludes Argentina,
Hong Kong, Malaysia, Singapore and UAE) and across 25 countries
12 © Edelman, 2012. All rights reserved.

13. Contrary to global rise, Japan trust in information sources drops across the board
TRUST IN INFORMATION SOURCES – JAPAN
2011
Informed Public
2012
Informed Public
33%
- 17
-8 - 15
22%
16%
19% -8
11% 10%
7%
2%
TRADITIONAL ONLINE MULTIPLE SOCIAL MEDIA CORPORATE
SOURCES
Q149-160. [TRACKING] Below is a list of places where you might get information about a company. For each, please indicate if you trust it a great deal, somewhat, not too
much, or not at all as a source of information about a company. (Top Box - % Trust A Great Deal) Informed Publics ages 25-64 in Japan
13 © Edelman, 2012. All rights reserved.

14. NGOs still most trusted institution globally; However, trust declines
in Japan
TRUST IN NON-GOVERNMENTAL ORGANIZATIONS (NGOS)
2011
Informed Public
2012
Informed Public
Trust Trust Steady Trust
85%
79% 80%
78%
75% 74%
72% 72% 72%
70% 70% 70%
67% 67% 65% 68%
65% 64% 64% 66% 66% 66%
63% 62%
61% 61% 60% 60%
58% 58% 58% 59%
55% 56% 55%
54% 53% 53% 55% 53% 53%
51% 51% 51%
50% 48% 49%
42%
41%
30%
28%
N/A N/A
Q11-14. [Non-governmental organizations (NGOs) TRACKING] Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right using a 9-
point scale where one means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) Informed Publics ages 25-64 in 20 country global total
(excludes Argentina, Hong Kong, Malaysia, Singapore and UAE) and across 25 countries
14 © Edelman, 2012. All rights reserved.

15. 15 © Edelman, 2012. All rights reserved.

16. Business not meeting public’s expectations in Japan
JAPAN
Gap
Business - 50
Importance TAKES RESPONSIBLE ACTIONS TO ADDRESS AN ISSUE OR A CRISIS 61%
Company 11%
Performance - 51
HAS TRANSPARENT AND OPEN BUSINESS PRACTICES 58%
7%
TREATS EMPLOYEES WELL 57% - 48
9%
57% - 39
LISTENS TO CUSTOMER NEEDS AND FEEDBACK
18%
- 31
OFFERS HIGH QUALITY PRODUCTS OR SERVICES 57%
26%
COMMUNICATES FREQUENTLY AND HONESTLY ON THE STATE OF ITS 54% - 45
BUSINESS 9%
- 25
ADDRESSES SOCIETY'S NEEDS IN ITS EVERYDAY BUSINESS 43%
18%
- 34
PLACES CUSTOMERS AHEAD OF PROFITS 42%
8%
41% - 30
WORKS TO PROTECT AND IMPROVE THE ENVIRONMENT
11%
- 30
HAS ETHICAL BUSINESS PRACTICES 39%
9%
36% - 27
HAS HIGHLY-REGARDED AND WIDELY ADMIRED TOP LEADERSHIP
9%
- 14
IS AN INNOVATOR OF NEW PRODUCTS, SERVICES OR IDEAS 33%
19%
- 25
CREATES PROGRAMS THAT POSITIVELY IMPACT THE LOCAL COMMUNITY 33%
IN WHICH THE COMPANY OPERATES 8%
RANKS ON A GLOBAL LIST OF TOP COMPANIES, SUCH AS 'BEST - 23
32%
COMPANIES TO WORK FOR' OR 'MOST ADMIRED COMPANIES' 9%
PARTNERS WITH NGOS, GOVERNMENT AND THIRD PARTIES TO ADDRESS 21% - 17
SOCIETAL ISSUES 4%
DELIVERS CONSISTENT FINANCIAL RETURNS TO INVESTORS 19% - 12
7%
Q52-69. How important is each of the following actions to building your TRUST in a company? Use a nine-point scale where one means that action is “not at all important to building your
trust” and nine means it is “extremely important to building your trust” in a company. (Top 2 Box, Very/ Extremely Important) General Population in Japan (excludes ‘Don’t Know’
responses);Q103-118. Please rate [INSERT COMPANY] on how well you think they are performing on each of the following attributes. Use a nine-point scale where one means they are
performing “extremely poorly” and nine means they are performing “extremely well”. (Top 2 Box, Performing Very/ Extremely Well) General Population in Japan
16 © Edelman, 2012. All rights reserved.

17. Similarly, government not meeting public’s expectations in Japan
GOVERNMENT IMPORTANCE VS. PERFORMANCE – JAPAN
Government
Importance
Government
Performance
Gap
62% -50
HAS TRANSPARENT AND OPEN PRACTICES
12%
59% -48
COMMUNICATES FREQUENTLY AND HONESTLY
11%
58% -46
LISTENS TO CITIZENS' NEEDS AND FEEDBACK
12%
EFFECTIVELY MANAGES THE FINANCIAL AFFAIRS OF THE 53% -43
COUNTRY 10%
45% -34
WORKS TO PROTECT AND IMPROVE THE ENVIRONMENT
11%
PROVIDES NATIONAL TRAINING PROGRAMS TO CREATE 37% -28
EMPLOYMENT OPPORTUNITIES 9%
CREATES INNOVATIVE PROGRAMS THAT POSITIVELY IMPACT 36% -28
LOCAL COMMUNITIES 8%
PARTNERS WITH BUSINESS NGOS, AND THIRD PARTIES TO 28%
ADDRESS SOCIETAL ISSUES -20
8%
Q132-139. How important is each of the following actions to building your trust in government? Please use a nine-point scale where one means that action is 'not at all important to building your trust'
and nine means it is 'extremely important to building your trust'. (Top 2 Box , Very/Extremely Important) General Population in Japan; Q140-147. Please rate your government on how well you think they
are performing on each of the following attributes using a nine-point scale where one means they are performing "extremely poorly" and nine means they are performing "extremely well". (Top 2 Box ,
Performing Very/Extremely Well) General Population in Japan
17 © Edelman, 2012. All rights reserved.

18. In Japan, government leaders less trusted than business leaders to tell the
truth
Business
Leaders
Government
Leaders
% WHO DO NOT TRUST THEM AT ALL TO TELL THE TRUTH
73%
69% 69%
66% 66% 65%
60%
51% 53%
50% 51% 50%
50% 48%
46% 47% 46% 46% 46%
44% 43% 43%
42%
41% 40%
40% 38%
36% 36%
34% 36% 34% 34%
30%
27% 28% 29%
26%
23% 24% 24%
21%
17% 17%
14% 15%
13% 14%
10% 11% 9%
10%
5%
Q126A. [SPLIT SAMPLE] How much do you trust business leaders to tell you the truth, regardless of how complex or unpopular it is? (% who say they do not trust them at all) General
Population in 25 country global total and across 25 countries; Q126B. [SPLIT SAMPLE] How much do you trust government leaders to tell you the truth, regardless of how complex or
unpopular it is? (% who say they do not trust them at all) General Population in 25 country global total and across 25 countries
18 © Edelman, 2012. All rights reserved.

19. Despite lack of trust in government, calls for increased regulations; though
Japan less likely to share this view
% WHO BELIEVE GOVERNMENT DOES NOT REGULATE BUSINESS ENOUGH
77%
70%
68%
64%
61%
58%
54% 54% 54% 53%
51% 50%
50% 49%
48% 48% 46%
45%
40% 40%
38%
36% 35%
34%
30% 30%
25%
Q130. When it comes to government regulation of business, do you think that your government regulates business too much, not enough or the right amount? (% who selected ‘not
enough’) Informed Publics ages 25-64 in 25 country global total and across 25 countries
19 © Edelman, 2012. All rights reserved.

20. Calls for greater protection and responsible behavior
THINKS THE MOST IMPORTANT ROLE THAT GOVERNMENT SHOULD PLAY IN BUSINESS IS:
Japan
Business
26% PROTECT CONSUMERS from irresponsible business practices can address
on its own
22% REGULATE BUSINESS ACTIVITIES to ensure companies are behaving responsibly
24% BUILD INFRASTRUCTURE that promotes and facilitates business opportunities
21% Work to ENSURE FREE MARKET ACCESS AND OPEN COMPETITION within industries
2% GIVE OR LOAN MONEY TO BUSINESS when it experiences financial crisis
4% Government SHOULD NOT PLAY A ROLE in business
Perceived drivers of irresponsible behavior:
• Poor management (Global - 29%, APAC - 27%, Japan - 16%)
• Unethical business practices (Global - 28%, APAC - 31%, Japan - 24%)
• Shortcuts that lead to poor quality (Global - 21%, APAC - 23%, Japan - 45%)
Q127. Which of the following items do you think makes people in a company most likely to engage in risky and irresponsible behavior that could damage a company? Informed
Publics ages 25-64 in 25 country global total, Asia Pacific region and Japan ; Q131. Which of the following is the most important role that government should play in business? Informed
Publics ages 25-64 in Japan
20 © Edelman, 2012. All rights reserved.

21. 21 © Edelman, 2012. All rights reserved.

22. BUSINESS
CAN EARN LICENSE TO LEAD 2008-2009
Low trust in
business and CEOs
Business has
flexibility and speed
THE DYNAMIC OF
TRUST BETWEEN Call for increased
regulation
BUSINESS & protection from
Business leaders GOVERNMENT irresponsible
behavior sought
more trusted than
government leaders
business has advantage
in 24 out of 25 markets
2011
Government
responds
Dwindling trust
in government
policy paralysis
22 © Edelman, 2012. All rights reserved.

23. Business: from license to operate to license to lead
JAPAN
CURRENT TRUST BUILDING FUTURE TRUST
Attributes that Correlate with Current Trust Most Important Attributes that Build Trust
40% TRUST BUSINESS 1) Takes actions to address issue or crisis
1) Delivers consistent financial returns 2) Has transparent and open business
2) Highly regarded, top leadership SOCIETAL ATTRIBUTES 3) High quality products or services
MORE IMPORTANT TO
3) Works to protect/improve environment BUILDING FUTURE 3) Listens to customer needs and feedback
TRUST 3) Treats employees well
CURRENT TRUST
DRIVEN BY OPERATIONAL 6) Communicates frequently and honestly
ATTRIBUTES
7) Addresses society's needs
8) Places customers ahead of profits
9) Works to protect/improve environment
10) Has ethical business practices
11) Highly regarded, top leadership
Societal
Operational 12) Positively impacts the local community
12) Innovator of new products
14) Ranks on a global list
15) Partners with third parties
16) Delivers consistent financial returns
Q11-14. [TRACKING] [Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right using a 9-point scale where one means that you “do not trust them at all” and nine
means that you “trust them a great deal”. (Top 4 Box, Trust) General Population in Japan; Q52-69. How important is each of the following actions to building your TRUST in a company? Use a nine-point scale where one
means that action is “not at all important to building your trust” and nine means it is “extremely important to building your trust” in a company. (Top 2 Box, Very/ Extremely Important)
General Population in Japan (excludes ‘Don’t Know’ responses)* ‘Current Trust’ results based on regression analysis of the general population
23 © Edelman, 2012. All rights reserved.

24. Credibility of all spokespeople drops in Japan; Government officials experiences
largest decline in the history of the Barometer with a 55 percentage point drop
CREDIBLE SPOKESPEOPLE – JAPAN
2011 2012
Academic or expert 70% Technical expert in the company 42% - 23
CEO 67% Academic or expert 32% - 38
Technical expert in the company 65% CEO 24% - 43
Government official or regulator 63% A person like yourself 22% - 17
Regular employee 59% NGO representative 18% - 30
NGO representative 48% Regular employee 16% - 43
Financial or industry analyst 40% Financial or industry analyst 14% - 26
A person like yourself 39% Government official or regulator 8% - 55
Q119-126. [TRACKING] Below is a list of people. In general, when forming an opinion of a company, if you heard information about a company from each person, how credible
would the information be--extremely credible, very credible, somewhat credible, or not credible at all? (Top 2 Box, Credible: Very + Extremely Credible) Informed Publics ages 25-64
in Japan
24 © Edelman, 2012. All rights reserved.

25. Skepticism requires repetition
OVER EIGHT IN TEN NEED TO HEAR INFO 3-5 TIMES TO BELIEVE
NUMBER OF TIMES NEEDED TO HEAR INFORMATION - JAPAN
Ten or more times Once (1), 3%
(10+), 12% Twice (2), 3%
Six to Nine times (6-
9), 1%
Three times (3), 51%
Four or Five times (4 -
5), 31%
Three to Five times
82%
Q148. [TRACKING] Think about everything you see or hear every day about companies, whether it is positive or negative. How many times in general do you need to be
exposed to something about a specific company to believe that the information is likely to be true? Please enter the number of times below. (Excludes ‘Don’t Know’ responses)
Informed publics ages 25-64 in Japan
25 © Edelman, 2012. All rights reserved.

26. Earn License to Lead
Exercise principles-based leadership, not rules based performance
Recognize that operational factors responsible for current trust won’t
build future trust, societal and engagement behaviors will
Practice radical transparency: speak first to employees; report on goals
Shape the public discourse on issues of importance to business
26 © Edelman, 2012. All rights reserved.

27. 27 © Edelman, 2012. All rights reserved.