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Matsushita Electric to Partially Amend its Articles of Incorporation.


OSAKA Osaka (ō`säkä), city (1990 pop. 2,623,801), capital of Osaka prefecture, S Honshu, Japan, on Osaka Bay, at the mouth of the Yodo River. , Japan -- Matsushita Electric Industrial Co., Ltd. (Matsushita (NYSE NYSE

See: New York Stock Exchange
 symbol: MC)), best known for its Panasonic
Panasonic was also the name of a Finnish electronic music duo.
Panasonic is an international brand name for Japanese electric products manufacturer Matsushita Electric Industrial Co.
 brand, today announced that its Board of Directors resolved to submit a proposal, at the ordinary general meeting of shareholders to be held on June June: see month.  28, 2006, to partially amend its Articles of Incorporation The document that must be filed with an appropriate government agency, commonly the office of the Secretary of State, if the owners of a business want it to be given legal recognition as a corporation. .

1. Reasons for the amendments*

1) In connection with the enforcement of the Company Law (Law No. 86, 2005) and the Law for Maintenance of Relevant Laws Relating to relating to relate prepconcernant

relating to relate prepbezüglich +gen, mit Bezug auf +acc 
 the Enforcement of the Company Law (hereinafter here·in·af·ter  
adv.
In a following part of this document, statement, or book.


hereinafter
Adverb

Formal or law from this point on in this document, matter, or case

Adv. 1.
 the "Maintenance Law") (Law No. 87, 2005), which became effective on May 1, 2006, the Company proposes the following amendments:

(i) As stipulated by the Maintenance Law, the Company's Articles of Incorporation will clearly state that the Company shall have the Board of Directors, Corporate Auditors AUDITORS, practice. Persons lawfully appointed to examine and digest accounts referred to them, take down the evidence in writing, which may be lawfully offered in relation to such accounts, and prepare materials on which a decree or judgment may be made; and to report the whole, together , the Board of Corporate Auditors and Accounting Auditors; that the Company shall issue share certificates representing its issued shares; and that the Company shall appoint To designate, select, or assign authority to a position or an office.

Although sometimes used interchangeably, elect and appoint do not have the same meaning. Election refers to the selection of a public officer by the qualified voters of the community, and appointment
 a transfer agent. (Proposed amendments: Articles 4, 7 and 10)

(ii) The Company will be able to provide, via the Internet Internet

Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the
, shareholders with necessary information that should be described or indicated in the documents attached to the notices of general meetings of shareholders such as reference documents for the meetings. (Proposed amendments: Article 17)

(iii) The Board of Directors of the Company will be able to adopt its resolutions in writing or via electronic means without meetings in order to promptly prompt  
adj. prompt·er, prompt·est
1. Being on time; punctual.

2. Carried out or performed without delay: a prompt reply.

tr.v.
 adopt resolutions when necessary. (Proposed amendments: Article 25)

(iv) As with outside Directors, the Company will be able to enter into agreements with outside Corporate Auditors, which limit the liabilities of the outside Corporate Auditors, in order to ensure that they are capable of sufficiently fulfilling their duties. (Proposed amendments: Article 33, Paragraph 2)

(v) The Company will be able to determine, by a resolution of the Board of Directors, distributions of surplus, in order to encourage the active payment of dividends and the Company's own share repurchases Share Repurchase

A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued.
 and cancellations, taking into consideration consolidated con·sol·i·date  
v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates

v.tr.
1. To unite into one system or whole; combine:
 business performance, in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[]

As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh.
 with the Company's policy for providing returns to shareholders. (Proposed amendments: Article 37)

(vi) Amendments to the wording of the Articles of Incorporation shall be made such as changing terminology The terminology used in the computer and telecommunications field adds tremendous confusion not only for the lay person, but for the technicians themselves. What many do not realize is that terms are made up by anybody and everybody in a nonchalant, casual manner without any regard or  and expressions to reflect the Company Law.

2) The Company proposes amendments to the numbering of articles or revisions ReVisions is a 2004 anthology of alternate history short-stories. It is edited by Julie E. Czerneda and Isaac Szpindel. Contents

Title Author
The Resonance of Light James Alan Gardner
Out of China Julie E.
 to wording in connection with the additions or deletions of articles, and overall modifications to article numbering and phrasing.

* The above proposed amendments, in connection with the enforcement of the Company Law in Japan, does not prevent shareholder proposals.

2. Amendments

The current Articles of Incorporation and the proposed amendments are as follows:
Current Articles                  Proposed Amendments

             CHAPTER I                          CHAPTER I
        GENERAL PROVISIONS                 GENERAL PROVISIONS
(Newly introduced as shown on the  Article 4. (Corporate Organization)
 right)                            In addition to general meetings of
                                    shareholders and Directors, the
                                    Company shall have the Board of
                                    Directors, Corporate Auditors, the
                                    Board of Corporate Auditors and
                                    Accounting Auditors.

Article 4. (Texts are omitted      Article 5. (Current Article 4 shall
 herein)                            be renumbered Article 5 and the
                                    texts thereof shall be the same as
                                    present)

            CHAPTER II                         CHAPTER II
             SHARES                             SHARES

Article 5. (Total Number of        Article 6. (Total Number of
Shares)                             Authorized Shares)
(Texts are omitted herein)         (Texts are not amended)


(Newly introduced as shown on the  Article 7. (Issuance of Share
               right)               Certificates)
                                   The Company shall issue share
                                    certificates representing its
                                    issued shares.

Article 6.  (Purchase of Own       (Current Article 6 shall be
 Shares)                            deleted)
The Company may, pursuant to the
 provision of Article 211-3,
 Paragraph 1, Item 2 of the
 Commercial Code, by a resolution
 of the Board of Directors,
 purchase its own shares.

Article 7. (Number of Shares       Article 8. (Number of Shares
 Constituting One Unit of Shares)   Constituting One Unit of Shares
                                    and Non-issuance of Share
                                    Certificates for Shares
The number of shares constituting   Constituting Less than One Unit)
 one unit (tangen) of shares shall 1.  The number of shares
 be one thousand (1,000).           constituting one unit (tangen) of
                                    shares shall be one thousand
(Newly introduced as shown on the   (1,000).
 right)                            2. Notwithstanding Article 7, the
                                    Company shall not issue
                                    certificate of shares consisting
                                    less than one unit of shares
                                    (hereinafter referred to as the
                                    "shares not constituting a full
                                    unit"); provided, however, that
                                    this does not apply to the cases
                                    which are determined by the
                                    Company's Share Handling
                                    Regulations.

Article 8. (Non-issuance of        (Current Article 8 shall be
Certificate of Shares Constituting deleted)
 less than One Unit of Shares)
The Company shall not issue
certificate of shares constituting
 less than one unit of shares
 (hereinafter referred to as
 "shares not constituting a full
 unit").
However, this does not apply to
the cases which are determined by
the Company's Share Handling
Regulations.

Article 10. (Record Date)          (Current Article 10 shall be
The Company shall deem those        deleted)
 shareholders having voting rights
 whose names are registered as
 such in writing or in digital
 format on the register of
 shareholders (including register
 of beneficial shareholders;
 hereinafter the same
 interpretation being applicable)
 as of the end of each fiscal
 period as the shareholders
 entitled to exercise their rights
 as shareholders at the ordinary
 general meeting of shareholders
 for such fiscal period.
In addition to the preceding
 paragraph, the Company shall, by a
 resolution of the Board of
 Directors and upon giving prior
 public notice, determine those
 shareholders and registered
 pledgees whose names appear as
 such in writing or in digital
 format on the register of
 shareholders as of a designated
 date as the shareholders or
 pledgees entitled to exercise
 their rights.

Article 11. (Transfer Agent)        Article 10. (Transfer Agent)
The Company shall appoint a          1.  The Company shall appoint a
 transfer agent with respect to      transfer agent with respect to
 shares.                             shares.
The transfer agent and its handling 2. The transfer agent and its
 office shall be designated by a     handling office shall be
 resolution of the Board of          designated by a resolution of the
 Directors, and public notice shall Board of Directors, and public
 be given with regard thereto.       notice shall be given with regard
                                      thereto.

The register of shareholders and   3. The preparation and the keeping
 the register of lost share         of the register of shareholders
 certificates of the Company shall  (including the register of
 be kept at the handling office of  beneficial shareholders;
 the transfer agent, and the        hereinafter the same
 handling business related to       interpretation being applicable),
 shares, such as registration of    the register of stock acquisition
 transfer of shares, purchase and   rights and the register of lost
 sale by the Company of shares not  share certificates of the Company
 constituting a full unit, etc.,    and any other matter related to
 shall be handled by the transfer   the register of shareholders, the
 agent and the Company shall not    register of stock acquisition
 handle such business.              rights and the register of lost
                                    share certificates of the Company
                                    shall be entrusted to the transfer
                                    agent, and the Company shall not
                                    handle such business.

Article 12. (Share Handling        Article 11. (Share Handling
 Regulations)                       Regulations)
Registration of transfers of       Handling business and handling fees
 shares, purchase and sale by the   related to shares of the Company
 Company of shares not constituting shall be governed by, in addition
 a full unit and other handling     to applicable laws and ordinances
 business related to shares of the  or these Articles of
 Company shall be governed by, in   Incorporation, the Share Handling
 addition to these Articles of      Regulations established by the
 Incorporation, the Share Handling  Board of Directors.
 Regulations established by the
 Board of Directors.

            CHAPTER III                        CHAPTER III
 GENERAL MEETINGS OF SHAREHOLDERS   GENERAL MEETINGS OF SHAREHOLDERS
Article 13. (Convocation)          Article 12. (Convocation)
An ordinary general meeting of     An ordinary general meeting of
 shareholders of the Company shall  shareholders of the Company shall
 be convened within three (3)       be convened within three (3)
 months from the day immediately    months after the end of each
 following the day on which the     business year, and an
 accounts are closed, and an        extraordinary general meeting of
 extraordinary general meeting of   shareholders may be convened
 shareholders may be convened       whenever necessary.
 whenever necessary.

(Newly introduced as shown on the  Article 13. (Record Date of
               right)               Ordinary General Meeting of
                                    Shareholders)

                                   The Company shall deem those
                                    shareholders having voting rights,
                                    whose names are registered as such
                                    in writing or in digital format on
                                    the register of shareholders as of
                                    the end of each business year, as
                                    the shareholders entitled to
                                    exercise their rights at the
                                    ordinary general meeting of
                                    shareholders with respect to such
                                    business year.

Article 14. (Chairman of General   Article 14. (Chairman)
 Meetings of Shareholders)         1. Chairmanship of general meetings
Chairmanship of general meetings     by the President.
 of of shareholders shall be
 assumed shareholders shall be
 assumed by the President.         2. Should the President be unable
Should the President be unable to   to act, one of the other
 act, one of the other              Representative Directors shall be
 Representative Directors shall     the chairman of the general
 take his/her place as previously   meeting of shareholders in
 determined by the Board of         accordance with the order
 Directors.                         previously determined by the Board
                                    of Directors.

Article 15. (Method of Adopting    Article 15. (Method of Adopting
 Resolutions)                       Resolutions)
Unless otherwise provided by laws  1. Unless otherwise provided by
 or ordinances or by these Articles laws or ordinances or by these
 of Incorporation, resolutions of   Articles of Incorporation,
 general meetings of shareholders   resolutions of general meetings of
 shall be adopted by a majority of  shareholders shall be adopted by a
 the votes of shareholders present  majority of the votes of
 or represented at the meeting.     shareholders entitled to exercise
Special resolutions of general      voting rights who are present or
 meetings of shareholders pursuant  represented at the meeting.
 to Article 343 of the Commercial  2. Resolutions of general meetings
 Code shall be adopted by not less  of shareholders pursuant to
 than two-thirds of the votes of    Article 309, Paragraph 2 of the
 the shareholders present or        Company Law shall be adopted by
 represented at the meetings, who   not less than two-thirds of the
 hold not less than one-third of    votes of the shareholders present
 the votes of all shareholders.     or represented at the meetings,
                                    who hold not less than one-third
                                    of the votes of all shareholders
                                    entitled to exercise voting
                                    rights.

Article 16. (Exercise of Voting     Article 16. (Exercise of Voting
 Rights through Proxy)               Rights through Proxy)
A shareholder may exercise his/her  A shareholder may exercise his/her
 voting rights through a proxy who   voting rights through one proxy
 is also a shareholder of the       who is also a shareholder of the
 Company entitled to exercise         Company entitled to exercise
 voting rights; provided, however,  voting rights; provided, however,
 that such shareholder or the proxy that such shareholder or the proxy
 must submit to the Company a power must submit to the Company a power
 of attorney authorizing such       of attorney authorizing such proxy
 proxy.                             for each relevant general meeting
                                             of shareholders.

(Newly introduced as shown on the  Article 17.(Disclosure through
               right)               Internet and Deemed Delivery of
                                    Reference Documents, etc. for
                                    General Meeting Shareholders)
                                   Upon convening a general meeting of
                                    shareholders, the Company may be
                                    deemed to have provided
                                    shareholders with necessary
                                    information that should be
                                    described or indicated in
                                    reference documents for the
                                    general meeting of shareholders,
                                    business reports, non-consolidated
                                    financial statements and
                                    consolidated financial statements,
                                    on the condition that such
                                    information is disclosed through
                                    the Internet in accordance with
                                    laws and ordinances.

            CHAPTER IV                         CHAPTER IV
DIRECTORS AND BOARD OF DIRECTORS,  DIRECTORS AND BOARD OF DIRECTORS,
                ETC.                               ETC.
Article 17. (Number of Directors)  Article 18. (Number)
(Texts are omitted herein)         (Texts are not amended)

Article 18. (Election of Directors) Article 19. (Election)
Directors shall be elected at a     1. Directors shall be elected at a
 general meeting of shareholders.    general meeting of shareholders.
Resolutions for such election shall 2. Resolutions for election of
 be adopted by a majority of the     Directors shall be adopted by a
 votes of the shareholders present   majority of the votes of the
 who hold not less than one-third    shareholders present who hold not
 of the voting rights held by the    less than one-third of the voting
 total shareholders.                 rights held by the total
No cumulative voting shall be used   shareholders entitled to exercise
 with respect to the resolutions     their voting rights.
 for the election of Directors.     3. No cumulative voting shall be
                                     used with respect to the
                                     resolutions for the election of
                                     Directors.

Article 19. (Representative         Article 20. (Representative
 Directors and Directors with        Directors and Directors with
 Special Titles)                     Special Titles)
The Company may, by a resolution of 1.The Company may, by a resolution
 the Board of Directors, appoint    of the Board of Directors, appoint
 from among the Directors one       from among the Directors one
 Chairman of the Board of           Chairman of the Board of
 Directors, one Vice Chairman of    Directors, one Vice Chairman of
 the Board of Directors, one        the Board of Directors, one
 President, and one or more         President, and one or more
 Executive Vice Presidents, Senior  Executive Vice Presidents, Senior
 Managing Directors and Managing    Managing Directors and Managing
 Directors.                         Directors.
The Chairman of the Board of       2. The Chairman of the Board of
 Directors, the Vice Chairman of    Directors, the Vice Chairman of
 the Board of Directors, the        the Board of Directors, the
 President, Executive Vice          President, Executive Vice
 Presidents and Senior Managing     Presidents and Senior Managing
 Directors shall severally          Directors shall severally
 represent the Company.             represent the Company.

Article 20. (Terms of Office of    Article 21. (Terms of Office)
 Directors)                        The terms of office of Directors
The terms of office of Directors    shall expire at the conclusion of
 shall expire at the conclusion of  the ordinary general meeting of
 the ordinary general meeting of    shareholders with respect to the
 shareholders with respect to the   last business year of the Company
 last closing of accounts within    ending within one (1) year from
 one (1) year from their            their election.
 assumption of office.

Article 21. (Remuneration and      Article 22. (Remuneration, etc.)
 Retirement Allowances for         Remuneration, bonuses and other
 Directors)                         financial benefits given by the
Remuneration and retirement         Company in consideration of the
 allowances for Directors shall be  performance of duties (hereinafter
 determined at a general meeting    referred to as the "Remuneration,
 of shareholders.                   etc.") to Directors shall be
                                    determined by a resolution of a
                                    general meeting of shareholders.

Article 22. (Limitation of          Article 23.(Limitation of
 Director's Liability)               Director's Liability)
The Company may, pursuant to the    1. The Company may, pursuant to
 provisions of Article 266,          Article 426, Paragraph 1 of the
 Paragraph 12 of the Commercial      Company Law, by a resolution of
 Code, by a resolution of the Board  the Board of Directors, exempt a
 of Directors, exempt a Director     Director (including a former
 (including a former Director) from  Director) from the liability for
 the liability for his/her actions   his/her actions set forth in
 set forth in Article 266,           Article 423, Paragraph 1 of the
 Paragraph 1, Item 5 of the          Company Law to the extent
 Commercial Code to the extent       permitted by  applicable laws and
 permitted by applicable laws and    ordinances.
 ordinances.                        2. The Company may, pursuant to
The Company may, pursuant to the     Article 427, Paragraph 1 of the
 provisions of Article 266,          Company Law, enter into an
 Paragraph 19 of the Commercial     agreement with an outside Director
 Code, enter into an agreement with  of the Company, which limits the
 an outside Director of the          liability for his/her actions set
 Company, which limits the           forth in Article 423, Paragraph 1
 liability for his/her actions set   of the Company Law to the
 forth in Article 266, Paragraph 1,  aggregate amount of the amounts
 Item 5 of the Commercial Code to    provided for in each item of
 the aggregate amount of the         Article 425, Paragraph 1 of the
 amounts provided for in each item   Company Law.
 of Article 266, Paragraph 19 of
 the Commercial Code.

Article 23. (Notice of Convocation  Article 24. (Notice of Convocation
 of a Meeting of Board of            of a Meeting of Board of
 Directors)                          Directors)
Notice of convocation of a meeting  Notice of convocation of a meeting
 of the Board of Directors shall be of the Board of Directors shall be
 dispatched to each Director and    dispatched to each Director and
 Corporate Auditor three (3) days   Corporate Auditor at least three
 in advance of the date set for the (3) days in advance of the date
 meeting; provided, however, that   set for the meeting; provided,
 in case of urgency this period may however, that in case of urgent
 be shortened.                      needs this period may be
                                    shortened.

(Newly introduced as shown on the  Article 25. (Abbreviation of
 right)                             Resolution of Board of Directors)
                                   The Company shall deem that a
                                    resolution of the Board of
                                    Directors is adopted when it meets
                                    the requirements set forth in
                                    Article 370 of the Company Law.

Article 24. (Regulations of Board   Article 26. (Regulations of Board
 of Directors)                       of Directors)
Matters to be resolved by the Board  Matters related to the Board of
 of Directors and any other details Directors shall be governed by, in
 concerning the Board of Directors  addition to applicable laws and
 shall be governed by the           ordinances or these Articles of
 Regulations of the Board of        Incorporation, the Regulations of
 Directors established by the Board the Board of Directors established
 of Directors.                      by the Board of Directors.

Article 25. (Executive Officers)    Article 27. (Executive Officers)
The Company may, by a resolution of 1.The Company may, by a resolution
 the Board of Directors, appoint    of the Board of Directors, appoint
 Executive Officers in charge of    Executive Officers in charge of
 the execution of the business of   the execution of the business of
 the Company.                       the Company.
Duties of Executive Officers and    2. Matters relating to Executive
 other matters relating to          Officers shall be governed by the
 Executive Officers shall be        Regulations of Executive Officers
 governed by the Regulations of     established by the Board of
 Executive Officers established by  Directors.
 the Board of Directors.

             CHAPTER V                          CHAPTER V
      CORPORATE AUDITORS AND             CORPORATE AUDITORS AND
    BOARD OF CORPORATE AUDITORS        BOARD OF CORPORATE AUDITORS
Article 26. (Number of Corporate   Article 28. (Number)
 Auditors)                         (Texts are not amended)
(Texts are omitted herein)

Article 27.        (Election of     Article 29.(Election)
 Corporate Auditors)                1. Corporate Auditors shall be
Corporate Auditors shall be elected  elected at a general meeting of
 at a general meeting of             shareholders.
 shareholders.                      2. Resolutions for election of
Resolutions for such election shall  Corporate Auditors shall be
 be adopted by a majority of the    adopted by a majority of the votes
 votes of the shareholders present  of the shareholders present who
 who hold not less than one-third   hold not less than one-third of
 of the voting rights held by the   the voting rights held by the
 total shareholders.                total shareholders entitled to
                                    exercise their voting rights.

Article 28. (Full-time Corporate   Article 30. (Full-time Corporate
 Auditors and Senior Corporate      Auditors and Senior Corporate
 Auditors)                          Auditors)
The Company shall appoint one or   1. The Board of Corporate Auditors
 more Full-time Corporate           shall, by its resolution, appoint
 Auditor(s) who shall be selected   from among the Corporate
 by the

Corporate Auditors from among their  Auditors one or more Full-time
 number.                              Corporate Auditor(s).
The Company may appoint one or more 2. The Board of Corporate Auditors
 Senior Corporate Auditor(s) who    may, by its resolution, appoint
 shall be selected by the Corporate one or more Senior Corporate
 Auditors from among their number.  Auditor(s).

Article 29.        (Terms of office Article 31.(Terms of office)
 of Corporate Auditors)            The terms of office of Corporate
The terms of office of Corporate    Auditors shall expire at the
 Auditors shall expire at the       conclusion of the ordinary general
 conclusion of the ordinary general meeting of shareholders with
 meeting of shareholders with       respect to the last business year
 respect to the last closing of     of the Company ending within four
 accounts within four (4) years     (4) years from their election.
 from their assumption of office.

Article 30. (Remuneration and      Article 32. (Remuneration, etc.)
 Retirement Allowances for         Remuneration, etc. for Corporate
 Corporate Auditors)                Auditors shall be determined by a
Remuneration and retirement         resolution of a general meeting of
 allowances for Corporate Auditors  shareholders.
 shall be determined at a general
 meeting of shareholders.

Article 31. (Limitation of         Article 33.(Limitation of Corporate
 Corporate Auditor's Liability)     Auditor's Liability)
The Company may, pursuant to       1. The Company may, pursuant to
 Article 280, Paragraph 1 of the    Article 426, Paragraph 1 of the
 Commercial Code, by a resolution   Company Law, by a resolution of
 of the Board of Directors, exempt  the Board of Directors, exempt a
 a Corporate Auditor (including a   Corporate Auditor (including a
 former Corporate Auditor) from     former Corporate Auditor) from the
 his/her liability to the extent    liability for his/her actions set
 permitted by applicable laws and   forth in Article 423, Paragraph 1
 ordinances.                        of the Company Law to the extent
                                    permitted by applicable laws and
                                    ordinances.

(Newly introduced as shown on the  2. The Company may, pursuant to
 right)                             Article 427, Paragraph 1 of the
                                    Company Law, enter into an
                                    agreement with an outside
                                    Corporate Auditor of the Company,
                                    which limits the liability for
                                    his/her actions set forth in
                                    Article 423, Paragraph 1 of the
                                    Company Law to the aggregate
                                    amount of the amounts provided for
                                    in each item of Article 425,
                                    Paragraph 1 of the Company Law.

Article 32. (Notice of Convocation  Article 34. (Notice of Convocation
 of a Meeting of Board of Corporate of a Meeting of Board of Corporate
 Auditors)                          Auditors)
Notice of convocation of a meeting  Notice of convocation of a meeting
 of the Board of Corporate Auditors of the Board of Corporate Auditors
 shall be dispatched to each        shall be dispatched to each
 Corporate Auditor three (3) days   Corporate Auditor at least three
 in advance of the date set for the (3) days in advance of the date
 meeting; provided, however, that   set for the meeting; provided,
 in case of urgency this period may however, that in case of urgent
 be shortened.                      needs, this period may be
                                    shortened.

Article 33. (Regulations of Board   Article 35. (Regulations of Board
 of Corporate Auditors)             of Corporate Auditors)
Matters to be resolved by the Board Matters related to the Board of
 of Corporate Auditors and any      Corporate Auditors shall be
 other details concerning the Board governed by, in addition to
 of Corporate Auditors shall be     applicable laws and ordinances or
 governed by the Regulations of the these Articles of Incorporation,
 Board of Corporate Auditors        the Regulations of the Board of
 established by the Board of        Corporate Auditors established by
 Corporate Auditors.                the Board of Corporate Auditors.

            CHAPTER VI                         CHAPTER VI
             ACCOUNTS                           ACCOUNTS
Article 34. (Fiscal Year and       Article 36. (Business Year)
 Closing of Accounts)              The business year of the Company
The fiscal year of the Company      shall commence on April 1 each
 shall commence on April 1 each     year and end on March 31 the next
 year and end on March 31 the next  following year.
 following year and the accounts
 shall be closed on the last day of
 each fiscal year.

Article 35. (Dividends)            Article 37. (Organization to
                                    Determine Distribution of Surplus,
Dividends of the Company shall be   etc.)
 paid to those shareholders or     Unless otherwise provided by law,
 registered pledgees whose names    the Company may determine, by a
 appear as such in writing or in    resolution of the Board of
 digital format on the register of  Directors, a distribution of
 shareholders at the end of each    surplus or other matters set forth
 fiscal period.                     in each item of Article 459,
                                    Paragraph 1 of the Company Law.

Article 36. (Interim Dividends)    Article 38. (Record Date of
                                    Distribution of Surplus)
The Company may, by a resolution of 1. The Company may pay year-end
 the Board of Directors, pay        dividends as a distribution of
 interim dividends (cash            surplus to those shareholders or
 distributions as provided in       registered pledgees whose names
 Article 293-5 of the Commercial    appear as such in writing or in
 Code; hereinafter the same being   digital format on the register of
 applicable) to those shareholders  shareholders as of the close of
 or registered pledgees whose names every business year, and pay
 appear as such in writing or in    interim dividends as a
 digital format on the register of  distribution of surplus to such
 shareholders as of the close of    shareholders or registered
 September 30 of each year.         pledgees as of the close of
                                    September 30 of each business
                                    year.

(Newly introduced as shown on the  2. Other than as provided in the
 right)                             immediately preceding paragraph, a
                                    distribution of surplus may be
                                    made by setting a record date.

Article 37. (Expiration Period for Article 39. (Expiration Period for
 Dividends and Interim Dividends)   Distribution of Surplus)
In case dividends or interim       In the event a distribution of
 dividends shall not be received    surplus is made by cash and shall
 within three (3) years from the    not be received within three (3)
 commencement of payment thereof,   years from the commencement of
 the Company shall be relieved from payment thereof, the Company shall
 the obligation for the payment     be relieved from the obligation
 thereof.                           for the payment thereof.
Dividends and interim dividends    Dividends shall bear no interest.
 shall bear no interest.

            CHAPTER VII            (Current CHAPTER VII shall be
        MISCELLANEOUS RULES         deleted)
Article 38. (Transfer Agent of     (Current Article 38 shall be
 Bonds or Debentures)               deleted)
The Company shall appoint a
 transfer agent or agents in
 respect to bonds or debentures
 issued by the Company.



Note: In cases where we will make partial amendments of articles only in Japanese Japanese (jăp'ənēz`), language of uncertain origin that is spoken by more than 125 million people, most of whom live in Japan. There are also many speakers of Japanese in the Ryukyu Islands, Korea, Taiwan, parts of the United States, and , which do not affect the meaning of the English 1. English - (Obsolete) The source code for a program, which may be in any language, as opposed to the linkable or executable binary produced from it by a compiler. The idea behind the term is that to a real hacker, a program written in his favourite programming language is  translations of the articles, we will not amend the English translations.

Editor's note Editor's Note (foaled in 1993 in Kentucky) is an American thoroughbred Stallion racehorse. He was sired by 1992 U.S. Champion 2 YO Colt Forty Niner, who in turn was a son of Champion sire Mr. Prospector and out of the mare, Beware Of The Cat.

Trained by D.
: This press release was distributed in Japan yesterday, May 18, 2006.
COPYRIGHT 2006 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
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Publication:Business Wire
Date:May 19, 2006
Words:4299
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