Annual Report for the 88th Term
January 1, 2014 – December 31, 2014

To the Shareholders of Fukuda Corporation

Fukuda Corporation
Stock code: 1899

To Our
Shareholders
To Our Shareholders

Operating Results
Consolidated net sales (Unit: Million yen)

146,241

150,000
127,365
113,469
103,657

111,431

100,000

Katsuyuki Fukuda

50,000Chairman & Representative Director
084th term 85th term 86th term 87th term 88th term

Consolidated ordinary income (Unit: Million yen)
7,500
6,386
6,000

Toyohiko Ota
President & Representative Director
We would like to extend our greetings to all of our shareholders, and takethis opportunity to express our sincere gratitude for your continuing support.
We hereby present our business results for the 88th term ended on
December 31, 2014.
The Fukuda Group’s mission is to embrace and fully respond to each andevery one of our customers’ dreams and hopes in line with our basic
principle of “Creating an environment where people, nature and society cancoexist,” and adhering to the Fukuda Group Spirit, “Always sincere, fromnow until the next century and beyond.” The Company’s management
philosophy is: “To value people and the environment, and aim to create
inspirational value based on a corporate structure designed to facechallenges.” To this end, the entire company will work together as one, with
our highest priority being the satisfaction of our stakeholders, including ourcustomers, shareholders, business partners and employees.
The Company’s business results for the fiscal year under review are
shown below. We intend to further enhance our corporate value as a unitedcorporate group without resting on our laurels, so that we may continue tomeet the expectations of our shareholders.
We sincerely hope you will grant us your continued support and guidance
going forward.
March 2015
1

4,144

4,500
2,904

3,000
1,687
1,500
501
0

84th term 85th term 86th term 87th term 88th term

Consolidated profit (Unit: Million yen)
5,611

6,000
5,000
4,000

3,265
2,729

3,000
2,000
1,000

921
-234

0
-1,00084th term 85th term 86th term 87th term 88th term

Review ofOperations

Business environment for the fiscal year under review

Outlook for the next fiscal year

During the fiscal year under review, the Japanese economy was inan moderate recovery trend overall, underpinned by monetaryeasing initiatives by the Bank of Japan aimed at overcoming
deflation and fiscal policies designed to stimulate the economy,
also known as “Abenomics.” However, the economy also showedsome signs of slowing due to the emergence of factors resulting
in reduced earnings, including an upsurge in import prices of raw
materials and other products due to the weak yen, and anincrease in corporate personnel expenses as a result of labor
shortages.
In the construction industry, investment in public works
construction showed signs of improvement partly due to thenational resilience plan, but this did not lead to substantial
recovery in regional urban areas. Furthermore, investment inconstruction by the private sector showed signs of a moderate
recovery trend as a result of investment related to the Tokyo
Olympics and Paralympics and clean energy projects, but
corporate sentiment in construction investment did not improve
due to the unstable economic outlook.

Going forward, the Japanese economy is expected to gradually head towarda recovery trend against the background of improvements in corporate
profitability and the recovery of personal consumption. Nonetheless,concerns over the accelerated divergence between urban and regional areas
cannot be dispelled in view of anticipated continued restraint in capital
investment due to the declining population in regional areas and the uncertain
economic outlook.
In the construction industry, the order environment is expected to
improve overall in anticipation of the moderate recovery of investment inconstruction by the private sector and investment in public works
construction in the Tokyo metropolitan area prior to the Tokyo Olympics in2020. In terms of revenue, however, the outlook still lacks optimism due tothe continued presence of potential factors that may put a downward
pressure on profits, including the upsurge in prices of imported raw materials
due to the weak yen and the upsurge in labor costs caused by a shortage of
construction workers.
In view of these circumstances, we expect consolidated business results
for the fiscal year ending December 2015 to yield net sales of ¥138,000
million, operating income of ¥4,500 million, ordinary income of ¥4,300 million,
and net income of ¥3,400 million.
In regard to the Company’s non-consolidated business results for the next
fiscal year, due to a limited number of technical personnel, orders have to be
accepted in a carefully planned manner. As a result, we anticipate orders of¥80,000 million, net sales of ¥82,000 million, operating income of ¥2,600
million, ordinary income of ¥2,700 million, and net income of ¥2,500 million.

Consolidated business results for the fiscal year under review
Under these circumstances, the Fukuda Group has focused on
the establishment and rigorous progress management of adetailed management plan designed to effectively utilize andmaximize the use of limited management resources. The Group
has also strived to further deepen collaboration among groupcompanies by promoting information exchange and businesscollaboration. As a result, the consolidated business results forthe fiscal year under review are as follows.
Net sales rose 14.8% over the previous fiscal year to morethan ¥146,200 million, as a result of the balance carried forwardfrom last year, and the increase in construction projects earnings.
In terms of profit, gross profit increased 17.9% year on year tomore than ¥13,200 million, attributable to an increase in net sales
and further improvement in the profitability of projects. Althoughgeneral and administrative expenses rose due to the expanded
scale of business, ordinary income increased 54.1% year on year
to more than ¥6,300 million, due to the continuing reduction in
financial expenses and the recording of over ¥600 million for thereversal of allowance for doubtful accounts, resulting from thecollection of receivables for prior periods. In terms of final profit
and loss figures, net income rose 71.8% year on year to morethan ¥5,600 million, partly due to effects of the consolidated
taxation system (applied for the first time this fiscal year), despite
an impairment loss of over ¥800 million recorded in the real estatebusiness, which saw a reduction in idle assets and rental income.

Ratio of net sales by consolidated business
Other business¥7,622 million
Real estatebusiness
5.2%¥6,456 million 4.4%

Construction business¥132,162 million

90.4%

2

Completed Work
Main projects completed in the fiscal year under review

Construction

FUKUOKA JISHO CO., LTD.

Tentative name: Kusagae 2-chome Condominium Construction Project(Fukuoka Prefecture)

AEON TOWN Co., Ltd.

Tentative name: AEON TOWN Kamaishi Construction Project(Iwate Prefecture)

Agano City

3

Tentative name: School Building Construction Project No. 15, Suibara JuniorHigh School Construction Project (Niigata Prefecture)

Yuukikai Social Welfare Service Corporation

Tentative name: Special Nursing Home for the Elderly: Shirone Soyokaze noMori Construction Project (Niigata Prefecture)

YAOKO Co., Ltd.

Tentative name: YAOKO Shin Delica Seisen Center Construction Project(Saitama Prefecture)

Niigata City

Tentative name: Niigata City Ice Arena Maintenance and Management
Business-Related Construction Project (Niigata City)

k

Civil Engineering

Ministry of Land, Information, Transport and Tourism

Hiroshima Prefectural Government

Joetsu City

Shinanogawa Karyu Sekiyaokawamae Yasuragi Riverbank
Seismic Retrofitting Project (Niigata Prefecture)

Hiroshima City Futaba no Sato District, Outside East Project
Site Maintenance (Part 2) Project (Hiroshima Prefecture)

Agricultural Land Improvement Measure No. 25-1, Mizukami
Reservoir Construction Project (Niigata Prefecture)

Sendai City

Ministry of Land, Information, Transport and Tourism

Ministry of Land, Information, Transport and Tourism

Sendai City High-Speed Railway, Tozai Line Ichibancho
Project Site Civil Engineering Project (Miyagi Prefecture)

Sendai Bay Nanbu Kaigan Nakahama Project Site North
Sakamoto District No. 7 Restoration Project (Miyagi Prefecture)

Hamadogawa Motomura Sluice Reconstruction
Project (Kumamoto Prefecture)

Main orders and completed projects for the fiscal year under review
OrdersCompleted projects

Healthcoop Shirone

AEON TOWN Co., Ltd.

Tachikawa Medical Center

Niigata City

Miyagi Prefectural Government

Nihon Kaisui Kako Co., Ltd.

Ministry of Land, Information, Transport and Tourism Chugoku Regional Development Bureau

Bureau of Sewage, Tokyo Metropolitan Government

Shirone Kensei Hospital Relocation & Construction Project
Tachikawa General Hospital Relocation Plan Construction Project
Okawa River External Disaster Reconstruction Project (Part 2)
Tottori Nishi Roads Fukui Mikuma Tunnel Project

AEON TOWN Kamaishi Construction ProjectNiigata City Ice Arena Maintenance and Management Business-Related Construction Project
Joetsu City Shimoarahama District, Site Maintenance Greenery Plan Project
Sunamachi Water Recycling Center Sand-System Pump Building,Rainwater Discharge Conduit Construction Project Part 34

Consolidated
Financial Statements
Consolidated Financial Statements

yen, rounded(downUnit:toMillion
the nearest million yen )Consolidated Balance Sheet

88th term
87th term(as of December 31, 2014) (as of December 31, 2013)

AssetsCurrent assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Total assets

72,09628,40021,103779
6,516
100,496

68,436
31,76021,636742
9,382
100,197

Liabilities
Current liabilities
Non-current liabilities
Total liabilities

55,001
7,489
62,49058,241
9,168
67,40937,313
5,158
5,996
26,281
123
385
818
144
288
307
38,006
100,496

31,8595,158
5,996
20,823
118
644
712
67
—
283
32,787100,197

Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Revaluation reserve for landRemeasurements of defined benefit plans
Minority interests
Total net assets
Total liabilities and net assets

yen, rounded(downUnit:toMillion
the nearest million yen )Consolidated Statement of Income
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Non-operating income
Non-operating expenses
Ordinary income
Extraordinary income
Extraordinary losses
Income before income taxes and minority interests

Income taxes – current
Income taxes – deferred

Income before minority interests

Minority interests in income
Net income

88th term
87th term(January 1, 2014 - December 31, 2014) (January 1, 2013 - December 31, 2013)

146,241
132,969
13,272
7,604
5,667
1,074
355
6,386
318
1,041
5,663
595
579
5,647
36
5,611

127,365
116,104
11,261
7,108
4,153
573
582
4,144
330
758
3,717
502
94
3,308
43
3,265
yen, rounded(downUnit:toMillion
the nearest million yen )Consolidated Statement of Cash Flows

88th term
87th term(January 1, 2014 - December 31, 2014) (January 1, 2013 - December 31, 2013)

Cash flows from operating activities
Cash flows from investing activities
Cash flows from financing activities
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Increase in cash and cash equivalents resulting
from merger with unconsolidated subsidiaries
Increase (decrease) in cash and cash equivalents
resulting from change of scope of consolidation
Cash and cash equivalents at end of period

513
3,031
6,204
2,65916,2552,460
1,498
4,277
318
16,533

—

40

10

—

13,585

16,255yen, rounded(downUnit:toMillion
the nearest million yen )Consolidated Statement of Changes in Equity (January 1, 2014 – December 31, 2014)
Accumulated othercomprehensive
Capital stock Capital surplus Retained earnings Treasury shares Total shareholders’ equity
incomeShareholders’ equity

Balance as of January 1, 2014
Dividends of surplus
Net income
Purchase of treasury shares
Change of scope of equity method
Change of scope of consolidation
Reversal of revaluation reserve for land
Net changes of items during the period other than shareholders’ equity
Total changes of items during the period
Balance as of December 31, 2014
5

5,158

5,996

20,823
223
5,611

118

4
6
76
—
5,158

—
5,996

5,457
26,281

31,859
223
5,611
4

Minority
interests

Total net
assets

644

283

259
259
385

23
23
307

32,787
223
5,611
4
—
6
76
235
5,218
38,006

6
76
4
123

5,453
37,313

Non-Consolidated
Financial Statements

Non-Consolidated Financial Statements

yen, rounded(downUnit:toMillion
the nearest million yen )Balance Sheet

88th term
87th term(as of December 31, 2014) (as of December 31, 2013)

AssetsCurrent assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Total assets
Liabilities
Current liabilities
Non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Valuation and translation adjustments
Valuation difference on available-for-sale securities
Revaluation reserve for land
Total net assets
Total liabilities and net assets

45,062
15,795
8,123
94
7,577
60,85843,40919,7679,312
28
10,426
63,17636,9893,514
40,503

41,342
4,922
46,264

19,162
5,158
5,996
8,131
123
1,192
590
601
20,35560,85815,725
5,158
5,996
4,689
118
1,185
508
677
16,911
63,176

Orders/Net sales (Unit: Million yen)Orders88th term
87th term(January 1, 2014 - December 31, 2014) (January 1, 2013 - December 31, 2013)

Net sales
Net sales of completed construction contracts
Net sales on real estate business
Cost of sales
Cost of sales on completed construction contracts
Cost of sales on real estate business
Gross profit
Gross profit on completed construction contracts
Gross profit on real estate businessSelling, general and administrative expenses
Operating income
Non-operating income
Non-operating expenses
Ordinary income
Extraordinary income
Extraordinary losses
Income before income taxes and minority interests
Income taxes – current
Income taxes – deferred
Net income

89,066
83,9805,086
82,68578,158
4,526
6,381
5,821
559
3,350
3,031
1,146
329
3,847
97
1,081
2,863
203
521
3,588

Ordinary income

100,003

100,000

89,066

83,987
72,293/Net income
3,847

4,000

73,04052,983

3,588

2,507

65,10556,95773,04071,793
1,246
68,271
67,225
1,046
4,768
4,568
200
2,876
1,892
467
461
1,898
477
228
2,146
70
431
2,507

Ordinary income/Net income (Unit: Million yen)

/Net sales

75,000yen, rounded(downUnit:toMillion
the nearest million yen )Statement of Income

58,173

1,898

2,000

47,631

1,299

50,000390
25,000208

1,023-518 -1,480

0084th term

85th term

86th term

87th term

88th term-2,00084th term

85th term

86th term

87th term

88th term
6Medium-term
Business Strategy
Medium-Term Business Strategy

The fiscal year ending December 31, 2015 marks thesecond year of the Three-Year Medium-Term Business
Plan launched in the fiscal year ended December 31,
2014, in which we set forth the “2018 Vision” and aim tobecome “the most coveted company to work for,” as thecore company in the Fukuda Group. Going forward, we
will continue to steadily implement the measurescontained in the Medium-Term Business Plan that focus
on strengthening our sales capabilities and increasing
profit levels in order to achieve more stable and gradual
growth.
In addition to steadfastly implementing the specificmeasures set forth below, we will strive to enhance ourcorporate value by further reinforcing collaboration
among group companies and straightforwardly carryingout various measures such as strengthening our financial
standings, training employees and providing
comprehensive safety guidance, as well as continue tomake efforts to ensure we are regarded as an attractive
company by all of our stakeholders.

Main measures in the Medium-term Business Plan
• Strengthen our ability to respond to changes in the ordering system for public works• Engage in market development with a focus on technology• Broaden our base of regular customers by acquiring potential customers and new customers• Avoid low-profit orders and improve earnings capabilities by reinforcing organizational strengths
We sincerely hope all our shareholders will continue to give us their support and encouragement going forward.

7

GroupInformation

Group Information
Corporate GroupThe Fukuda Corporate Group consists of the Company, 29
subsidiaries and 6 affiliates, and its mainstay businesses are theconstruction business and the real estate business. Other businessencompasses services related to each of those businesses, including
the lease, manufacture and sale of construction-related equipment
and materials.

Construction businessIn addition to the construction orders and projects undertakenby the Company, FUKUDA ROAD CONSTRUCTION CO., LTD.
and 22 other subsidiaries, and Kita Nihon Construction Material
Leasing Co., Ltd. and five other affiliates are also engaged inconstruction orders and projects, some of which are orderedby the Company.

FUKUDA HOUSING CO., LTD.

Real estate businessIn addition to the business undertaken by the Company in realestate sales, leasing and development, FUKUDA ASSET &SERVICE CO., LTD. and five other subsidiaries, and an affiliate,
TAKAKEN CO., LTD., are also engaged in the real estatebusiness.

1.4%
RECS CORPORATION
3.7%

12 other companies

4.4%

KOWA Co., Ltd.

5.7%

FUKUDA RENEWALCORPORATION

5.9%

FUKUDA ROAD
CONSTRUCTION CO., LTD.

20.1%

FukudaCorporation

58.8%

Consolidated net sales:¥146,241 million

Other business
FUKUDA ROAD CONSTRUCTION CO., LTD. and five othersubsidiaries are engaged in the lease, manufacture and sale ofproducts other than those related to construction projects, andthe Company purchases and leases products from thosecompanies. Another subsidiary, Design Workshop Co., Ltd., isengaged in the management of welfare facilities.

Niigata Pavement Products Co., Ltd.
Head Office:2553-1 Yamada, Nishi-ku, Niigata City
Tel: 025-231-5161
Teraji Plant:
1055 Teraji, Nishi-ku, Niigata City
Tel: 025-231-3649
Shimami Plant:
4628-16 Shimamicho, Kita-ku, Niigata City Tel: 025-259-4526
Business activities: Sale of paving materials such as hot mix asphalt
Sale of recycled roadbed materials
Intermediate treatment of asphalt waste materials
Asphalt paving works
Niigata Pavement Products Co., Ltd. was established on June 1, 1964 with investment by Fukuda
Corporation, HONMA Corporation and Maruun Kensetsu Co., Ltd. based on the concept of local
production for local consumption to meet the growing demand for asphalt paving materials. The company
established plants in Niigata City’s Nishi Ward and Kita Ward, and supplies various types of hot mix asphalt
to worksites throughout Niigata City and surrounding areas, as well as collecting asphalt waste materials
brought from worksites. The company is also engaged in the mix design, manufacture and sale of specialty
asphalt color composite materials, including landscape paving materials, and the intermediate treatment ofasphalt and manufacture and sale of recycled roadbed materials as a means of regarding constructionwaste materials in response to customer needs.
The company celebrated its 50th anniversary in June 2014 and at the end of that year relocated to theaddress stated above upon completion of the head office building (on a site adjacent to the former head
office and the Teraji Plant).
All employees will work together as one in accordance with the management philosophy “to supply safe,
high-quality products at a low price and aim to become a company that is needed by the region.”

Landscape paving using anatural-color paving mix

Ballasting at power generation facilities
using recycled roadbed materials
8Topics
TopicsAutumn Medal Awards, 2014

Murakami Branch of the Niigata Fukuju Association Was Awarded the Medal with Green Ribbon

The Murakami Branch of the Niigata Fukuju Association was formed forty
years ago in 1975. The Fukuju Association, created from an affiliate of
Fukuda Corporation, is an organization whose purpose is to strengthen
the corporate structure. Its main function is the prevention of workplace
accidents but it has undertaken cleaning activities around Iwafune Port forthe past 38 years as a way of expressing gratitude for being allowed tooperate in the region. These consistent beautification activities allow the
locals and visitors to the area to safely enjoy swimming in the ocean andplaying on the beaches, while the resultant improvements to theenvironment along the seashore from the cleaning activities are expected
to make a synergistic contribution to the revitalization of the region.

November 2, 2014 (Sunday), Niigata Nippo p. 22

The Medal with Green Ribbon is an award presented to individuals
and organizations that for many years have engaged in activities thatserve society and have made a significant contribution accordingly.
The Medal with Green Ribbon was presented to only five organizations
throughout Japan in fiscal 2014. Encouraged by this award, we wish
the Murakami Branch of the Niigata Fukuju Association continued
development and success.

Company with Excellent Record of Construction Projects Certification

Received Award from Two Ministry of Land, Information, Transport and Tourism Regional Development BureausThis certification system selects and certifies companies with an excellent rating inconstruction project completions for civil engineering projects completed within the past two
years, and recognizes the Company’s high level of technical capabilities in regard toconstruction and quality control.
The Company also received the Excellence in Construction Award and the Excellence inTechnology Award from the Director of the Hokuriku Regional Development Bureau.
These commendations recognize excellent records of construction projects for fiscal 2013
and are awarded for construction projects that showed remarkable achievements partly as aresult of the Company overcoming difficulties and making efforts in creative originality.

9

The Company received certification and commendation as a Company with
Excellent Record of Construction Projects for Fiscal 2014 by the Director of the
Hokuriku Regional Development Bureau for the second consecutive year. The
Company also received a certificate of commendation as a Company with
Excellent Record of Construction Projects for Fiscal 2014 from the Director of
the Kyushu Regional Development Bureau for the first time.

Corporate Data
Company Profile
Established:
Founded:Capital:Employees:
Consolidated
subsidiaries:
Main offices:

CorporateData(as of December 31, 2014)

January 1902
December 1927
5,158,408,496 yen
759

1 8 (including FUKUDA ROAD
CONSTRUCTION CO., LTD.)
Head office3-10 Ichibanboridoricho, Chuo-ku, Niigata
Tel: 025-266-9111 (Main line)
Main Branch & Branches
Niigata Main Branch (Chuo-ku, Niigata),
Tokyo Main Branch (Chiyoda-ku, Tokyo),
Tohoku Branch (Aoba-ku, Sendai), Nagoya
Branch (Naka-ku, Nagoya), Osaka Branch(Kita-ku, Osaka), Kyushu Branch (Hakata-ku,
Fukuoka), Chuetsu Branch (Nagaoka, Niigata
Prefecture), Hokkaido Branch (Sapporo,
Hokkaido)
Sales Offices
Morioka, Chiba, Yokohama, Murakami,
Jouetsu, Hiroshima and five other locations

Directors and Executive Officers

Chairman &Representative Director
Chairman of the Board
President &Representative Director
President of the Board
Representative
Director & Vice
President of the Board
Director &Senior Executive
Officer(as of March 26, 2015)

Katsuyuki Fukuda

Executive
Officer

Hiroshi Miya

Toyohiko Ota

Executive
Officer

Shinji Shinada

Kenichi Takasaka

Executive
Officer

Shinichi Otsuka

Wataru Ishikawa

Executive
OfficerTakeshi Yamamoto

Director &Executive Officer

Koichi Yakuwa

Executive
Officer

Masahiro Mashiko

Director &Executive Officer

Ryoichi Soma

Executive
Officer

Satoshi Iwakawa

Director &Executive Officer

Fumio Uchiyama

Executive
Officer

Shoichi Takakuwa

Senior Executive
Officer

Chihiro Oiwa

Senior Executive
Officer

Masaki Araake

Executive Officer

Tsugio Yuasa

Full-Time Audit& Supervisory
Board Member
Audit &
Supervisory
Board Member
Audit &
Supervisory
Board Member

Shunsaku Ogawa
Tetsuya Sunada
Hajime Fukuda

Note: Messrs. Tetsuya Sunada and Hajime Fukuda are Outside Audit & Supervisory Board
Members.

Stock Information(as of December 31, 2014)

Total Number of Shares
Authorized to be Issued: ������������������������� 100,000,000 shares
Total Number of Shares Outstanding(excluding treasury shares): ����������������������� 44,640,159 shares
Number of Shareholders: ���������������������������������������������� 4,984
Major
Number of shares held Shareholding ratio
Name of shareholder(thousands)(%)
Shareholders(Public Interest Incorporated Foundation) Fukuda Ieikai

3,343

7.4

THE DAISHI BANK, LTD.

2,198

4.9

Naomi Fukuda

2,158

4.8

Fuji Fukuda

1,633

3.6

Kazuko Ozawa

1,607

3.6

Note: Shareholding ratio is calculated after deducting the number of treasury shares(300,398 shares).

10

Information for Shareholders

Shareholder Benefit Program

Ordinary General Meeting of Shareholders:March

To express our gratitude for the constant support of ourshareholders and with the aim of encouraging shareholders tomaintain their shareholding over a long period, the Company has
decided to introduce a Shareholder Benefit Program. The details
are as follows.

Record Date
Ordinary General Meeting of Shareholders: December 31
Year-End Dividend: December 31
Interim Dividend: June 30

1. Start date: Shareholders listed in the Shareholders’ Register asof December 31, 2014
2. Method of presentation: Once a year to shareholders holding
1,000 shares or more as of December 31
3. Benefits: A ¥5,000 QUO card for all shareholders

 tock Transfer Agent / Account Management Institution forS
Special Accounts:
Mitsubishi UFJ Trust and Banking Corporation

4. Presentation period: Scheduled to be sent in late March eachyear

Fiscal Year:
From January 1 to December 31*Eligible shareholders will all receive the same standard benefit.

Contact Information / Addressee:
Mitsubishi UFJ Trust and Banking Corporation
Stock Transfer Agency Department
7-10-11 Higashi Suna, Koto-ku, Tokyo 137-8081
Tel: 0120-232-711 (Toll-free)Number of Shares Per Unit:
1,000
Listed on:First Section of Tokyo Stock Exchange
Method of Public Notice:
Public notices will be made electronically. However, when electronic
public notices cannot be made due to circumstances beyond ourcontrol, we will post a notice in the Nihon Keizai Shimbun.
URL for Public Notices: http://www.fkd.co.jp/
Note:
In regard to procedures for matters such as change of address of shareholders
and requests for purchase of shares, please contact the securities company orother institution that established the account. These procedures are not handled

URL http://www.fkd.co.jp/

by the Stock Transfer Agent (Mitsubishi UFJ Trust and Banking Corporation).
Unclaimed dividends shall be paid at the main branch of Mitsubishi UFJ Trustand Banking Corporation.

Head office:3-10 Ichibanboridoricho, Chuo-ku, Niigata
Tel: 025-266-9111 (Main line)