**Exhibit 1.4**(Translation)**NISSIN CO., LTD.****REGULATIONS OF THE BOARD OF STATUTORY AUDITORS**(Purpose)     Article 1. In accordance with laws and ordinances and the Articles of Incorporation, theseRegulations shall provide for all matters concerning meetings of the Board of Statutory Auditors ofNISSIN CO., LTD. (the “Company”).(Definitions)     Article 2. (1) “Accounting Auditor” means an accounting auditor elected by the GeneralMeeting of Shareholders of the Company pursuant to Article 329, paragraph 1 of theCorporate Law of Japan.  (2) “SEC Audit Corporation” means an accounting firm, certified publicaccountant of the United States or accountant and its related party, required to beindependent of the Company pursuant to the laws or ordinances of the United Statesor the rules of the stock exchange in the United States on which the shares of theCompany are listed and registered with the Public Company Accounting OversightBoard (“PCAOB”) of the United States, that provides the Company and any subsidiaryof the Company under the accounting standards of the United States with auditservices and other services related with audits in accordance with the standards ofthe United States.  (3) Any “Accounting Auditor” shall be qualified as an SEC AuditCorporation.(Composition)     Article 3. 1. The Board of Statutory Auditors shall be composed of all the StatutoryAuditors.  2. The Board of Statutory Auditors shall appoint a full-time Statutory Auditor orAuditors.  3. In addition to the preceding paragraph, the Board of Statutory Auditors shallappoint a chairman of the Board of Statutory Auditors and a specified Statutory Auditoror Auditors as set forth in Article 8 hereof.(Object of the Board of Statutory Auditors)     Article 4. The Board of Statutory Auditors shall receive reports on, deliberate on or adoptresolutions of, important matters concerning audits; provided, however, that the exercise of powersby each Statutory Auditor shall not be diluted.
 

 
(Duties of the Board of Statutory Auditors)     Article 5. The Board of Statutory Auditors shall execute the following duties; provided,however, that any determination made under item (3) hereof shall not dilute the exercise of powersby each Statutory Auditor: (1) Preparation of audit reports;  (2) Appointment and removal of full-time Statutory Auditors; and  (3) Determination of audit policies, methods of investigation of the stateof operations and property and other matters concerning the execution by StatutoryAuditors of their duties.(Appointment and removal of full-time Statutory Auditors)     Article 6. The Board of Statutory Auditors shall, by its resolution, appoint a full-timeStatutory Auditor or Auditors from among the Statutory Auditors and remove such full-time StatutoryAuditor or Auditors.(Chairman)     Article 7. 1. The Board of Statutory Auditors shall, by its resolution, appoint a chairmanfrom among the Statutory Auditors.  2. The chairman of the Board of Statutory Auditors shall execute the dutiesdelegated by the Board of Statutory Auditors, in addition to the duties set forth inArticle 11, paragraph 1 hereof; provided, however, that the exercise of powers by eachStatutory Auditor shall not be diluted.(Specified Statutory Auditors)     Article 8. 1. The Board of Statutory Auditors shall, by its resolution, specify a StatutoryAuditor or Auditors (“specified Statutory Auditor(s)”) to execute the following duties: (1) Receive from the Directors business reports and their detailedaccompanying statements and financial statements that shall be received by eachStatutory Auditors, and deliver the same to the other Statutory Auditors;  (2) Give notice of the details of audit reports of the Board of StatutoryAuditors on business reports and their detailed accompanying statements to theDirectors;  (3) Agree with the Directors as to the dates on which notice under thepreceding paragraph shall be given;  (4) Receive from the Accounting Auditors notice of the details ofaccounting audit reports, and give notice thereof to the other Statutory Auditors;  (5) Give notice of the details of audit reports of the Board of StatutoryAuditors on financial statements to the Directors and Accounting Auditors; and
 

 
 (6) Agree with the Directors and Accounting Auditors as to the date onwhich the specified Statutory Auditor(s) shall receive from the Accounting Auditorsnotice of the details of accounting audit reports. 2. The specified Statutory Auditor(s) shall be a full-time Statutory Auditor(s).(Statutory Auditors to attend meeting of the Board of Directors by Special Directors)     Article 9. In the event that the Board of Directors has appointed Special Directors, the Boardof Statutory Auditors shall, by its resolution, appoint a Statutory Auditor or Auditors to attend ameeting of the Board of Directors by such Special Directors.(Holding of meetings)     Article 10. Meetings of the Board of Statutory Auditors shall be held at the head officebimonthly, in principle; provided, however, that meeting of the Board of Statutory Auditors may beheld from time to time as the necessity arises.(Convener)     Article 11. 1. Meetings of the Board of Statutory Auditors shall be convened and presided overby the chairman.  2. Each Statutory Auditor may request the chairman to convene a meeting of theBoard of Statutory Auditors.  3. In the event that the chairman does not convene a meeting of the Board ofStatutory Auditors in spite of a request made under the preceding paragraph, theStatutory Auditor who has made such request may convene and preside over the meeting.(Convocation procedure)     Article 12. 1. To convene a meeting of the Board of Statutory Auditors, notice thereof shallbe dispatched to each Statutory Auditor not later than two (2) days prior to the dateof the meeting in accordance as provided for in the Articles of Incorporation.  2. If consented to by all the Statutory Auditors, a meeting of the Board ofStatutory Auditors may be held without following the convocation procedure.(Method of adopting resolutions)     Article 13. 1. A resolution of the Board of Statutory Auditors shall be adopted by a majorityof the Statutory Auditors.  2. For adopting a resolution, the Board of Statutory Auditors shall deliberate byreference to sufficient information.
 

 
(Resolution of audit policies and other matters)     Article 14. 1. The Board of Statutory Auditors shall, by its resolution, formulate auditpolicies, audit plans, audit methods, the distribution of auditing duties and othermatters.  2. In addition as provided for in the preceding paragraph, the Board of StatutoryAuditors shall make decisions as to any matter considered necessary for StatutoryAuditors to perform their duties, including audit expense budgets.  3. The Board of Statutory Auditors shall make decisions as to the details of thefollowing frameworks and request the Directors to establish the frameworks: (1) Matters relating to employees to assist the Statutory Auditors toexecute their duties;  (2) Matters relating independence of the employees set forth in thepreceding item from the Directors;  (3) Framework for the Directors and employees to file reports to theStatutory Auditors and other frameworks for filing reports to the StatutoryAuditors; and  (4) Other frameworks to secure effective performance of audits by theStatutory Auditors.(Engagement of third-party advisors)     Article 15. The Board of Statutory Auditors may engage attorneys, certified publicaccountants, consultants and other third-party advisors at the cost of the Company when it deemsnecessary for the performance of its duties.(Regular meetings with Representative Directors, etc.)     Article 16. 1. The Board of Statutory Auditors shall regularly meet the RepresentativeDirectors, exchange opinions on problems to be addressed by the Company, the state ofdevelopment of the environments for the Statutory Auditors’ audits, important problemsin conjunction with audits, etc. and also make requests as deemed necessary to theRepresentative Directors, in an effort to increase mutual understanding.  2. The Board of Statutory Auditors shall explain its audit policies and auditplans, as well as the state of the performance of audits and the results thereof,whenever appropriate, and express its opinions on the election of Accounting Auditors,to the Representative Directors and the Board of Directors.  3. The Board of Statutory Auditors shall, in consultation with the Directors,determine a proposition for the election of Accounting Auditors and other matters forthe Directors and employees to file reports to the Board of Statutory Auditors underthe framework set forth in Article 14, paragraph 3, item 3 above, in addition to thematters provided for in law and receive reports thereon.
 

 
(Reports to the Board of Statutory Auditors)     Article 17. 1. Each Statutory Auditor shall report the state of performance of his duties tothe Board of Statutory Auditors regularly and from time to time and must do so at anytime upon request from the Board of Statutory Auditors.  2. Any Statutory Auditor who receives a report from any Accounting Auditor,Director, employee in the internal audit section, etc. or other person shall file suchreport to the Board of Statutory Auditors.  3. The Board of Statutory Auditors shall request any Accounting Auditor, Director,employee in the internal audit section, etc. or other person to file a report as thenecessity arises.  4. In conjunction with the three preceding paragraphs, in the event that anyAccounting Auditor, Director, employee in the internal audit section, etc. or otherperson gives notice of any matter to be reported to the Board of Statutory Auditors toall the Statutory Auditors, such any matter shall not be required to be reported to theBoard of Statutory Auditors.  5. The Board of Statutory Auditors shall receive reports from the AccountingAuditors on their audit reports (including audit reports on consolidated financialstatements to be filed with the SEC).(Measures in response to reports)     Article 18. In the event that the Board of Statutory Auditors receives any of the followingreports, it shall make necessary investigations and take any appropriate measure according to thesituation: (1) Report from any Director that a fact was found to threaten to cause amaterial damage to the Company;  (2) Report from any Accounting Auditor that a malpractice by any Directorrelating to the performance of his duties or any other material fact incontravention of laws or ordinances or the Articles of Incorporation was found;  (3) Report from any Director or employee on any of the matters determinedin consultation with the Directors in advance; and  (4) Report or information received from any officer, employee or the likeor any outsider pursuant to the Regulations for the Operation of theWhistle-Blowing Policy.(Preparation of audit reports)     Article 19. 1. The Board of Statutory Auditors shall, based on the audit reports prepared byeach Statutory Auditor, prepare its audit reports upon deliberation.  2. If the details of the audit report of the Board of Statutory Auditors differsfrom those of each Statutory Auditor and such each Statutory Auditor so requests, theBoard of Statutory Auditors shall refer to the details of the audit report of the StatutoryAuditor in its audit report.
 

 
 3. Each Statutory Auditor shall affix his signature or his name and seal(including electronic signature) to the audit report of the Board of StatutoryAuditors. The full-time Statutory Auditor or Auditors and outside Statutory Auditor orAuditors shall be indicated or recorded as such therein.  4. The preceding three paragraphs shall apply, mutatis mutandis, when the Companyprepares extraordinary financial statements or consolidated financial statements.(Consent to the election of Statutory Auditors, etc.)     Article 20. 1. The following matters concerning the election of Statutory Auditors shall besubject to the resolution of the Board of Statutory Auditors: (1) Consent to a proposition on the election of Statutory Auditors to besubmitted to a General Meeting of Shareholders;  (2) Request that the election of Statutory Auditors be a matter forming anobject at a General Meeting of Shareholders; and  (3) Request that a proposition on the election of Statutory Auditors besubmitted to a General Meeting of Shareholders. 2. The preceding paragraph shall apply, mutatis mutandis, to the election of aStatutory Auditor to fill a vacancy.(Consent to the election of Accounting Auditors, etc.)     Article 21. 1. The following matters concerning the election, non-reelection and removal ofAccounting Auditors shall be subject to the resolution of the Board of StatutoryAuditors: (1) Consent to a proposition on the election of Accounting Auditors to besubmitted to a General Meeting of Shareholders;  (2) Consent to the removal or non-reelection of Accounting Auditors to be amatter forming an object at a General Meeting of Shareholders;  (3) Request that a proposition on the election of Accounting Auditors besubmitted to a General Meeting of Shareholders;  (4) Request that the election, removal or non-reelection of AccountingAuditors be a matter forming an object at a General Meeting of Shareholders; and  (5) Election of a person to temporarily perform the duties of AccountingAuditors in the event that the office of Accounting Auditors is vacant. 2. Consent of all the Statutory Auditors to the removal of any Accounting Auditorfor any statutory reason for removal may be obtained uponconsultation at a meeting of the Board of Statutory Auditors. In that case, a Statutory Auditor designated bythe Board of Statutory Auditors shall explain the fact and the reason therefor atthe first General Meeting of Shareholders to be held after such removal.
 

 
 3. The consent set forth in the preceding paragraph may be given in writing or inelectronic records in the case of urgent necessity.(Consent to remuneration, etc. of Accounting Auditors)     Article 22. Any consent to remuneration, etc. of Accounting Auditors and any person totemporarily perform the duties of Accounting Auditors shall be by resolution of the Board ofStatutory Auditors.(Consent to partial indemnification of Director)     Article 23. 1. Any of the following unanimous consents by the Statutory Auditors may be givenupon deliberation at a meeting of the Board of Statutory Auditors: (1) Consent to a proposition on partial indemnification of any Director tobe submitted to a General Meeting of Shareholders;  (2) Consent to a proposition on amendment to the Articles of Incorporationto allow the Board of Directors to partially indemnify any Director by resolutionof the Board of Directors to be submitted to a General Meeting of Shareholders;  (3) Consent to a proposition on partial indemnification of any Director tobe submitted to a meeting of the Board of Directors in accordance as provided forin the Articles of Incorporation; and  (4) Consent to a proposition on amendment to the Articles of Incorporationto allow the Board of Directors to enter into an agreement with any outsideDirector to partially indemnify him to be submitted to a General Meeting ofShareholders. 2. The consent set forth in the preceding paragraph may be given in writing or inelectronic records in the case of urgent necessity.(Consent to intervention in a lawsuit to assist)     Article 24. 1. Any unanimous consent by the Statutory Auditors to intervention by the Companyin a derivative lawsuit to assist any defendant Director may be given upon deliberationat a meeting of the Board of Statutory Auditors.  2. The consent set forth in the preceding paragraph may be given in writing or inelectronic records in the case of urgent necessity.(Deliberation on exercise by Statutory Auditors of powers)     Article 25. In the event that Statutory Auditors exercise their powers or perform their dutieswith regard to the following matters, the Statutory Auditors may deliberate thereon in advance at ameeting of the Board of Statutory Auditors:
 

 
 (1) Explanation as to any question addressed in writing by a shareholder toStatutory Auditors prior to the holding of a General Meeting of Shareholders;  (2) Report to the Board of Directors, request for the convocation of ameeting of the Board of Directors, etc.;  (3) Results of investigations as to propositions, documents, etc. to besubmitted to a General Meeting of Shareholders;  (4) Demand for the suspension of any Director’s act beyond the scope of theobjectives of the Company or any other act in contravention of laws or ordinancesor the Articles of Incorporation;  (5) Statement of opinions on the election, removal, resignation andremuneration, etc. of Statutory Auditors at a General Meeting of Shareholders;  (6) Matters concerning a lawsuit between the Company and any Director;  (7) Matters concerning approval of audit or non-audit services ofAccounting Auditors; and  (8) Matters concerning the institution of lawsuits and other matters.(Deliberation on remuneration, etc.)     Article 26. Upon unanimous consent by the Statutory Auditors, remuneration, etc. of StatutoryAuditors may be deliberated at a meeting of the Board of Statutory Auditors.(Minutes)     Article 27. 1. The following matters shall be included in minutes of each meeting of the Boardof Statutory Auditors and the Statutory Auditors present shall affix their signaturesor their names and seals (including electronic signatures) thereto: (1) Day, hour and place of the meeting (including the method of attendanceat the meeting if any Statutory Auditor, Director or Accounting Auditor who was notin the place physically attended the meeting);  (2) Proceedings in outline and the resultant actions taken thereat;  (3) Outline of the particulars of the opinions or statements, if any, giventhereat with regard to any of the following matters: (a) Report from any Director that a fact was found tothreaten to cause a material damage to the Company; and  (b) Report from any Accounting Auditor that a malpracticeby any Director relating to the performance of his duties or any othermaterial fact in contravention of laws or ordinances or the Articles ofIncorporation was found; (4) Name of any Director or Accounting Auditor present thereat; and
 

 
 (5) Name of the chairman of the meeting. 2. In the event that the filing of a report to the Board of Statutory Auditors isdetermined not to be required by the provision of Article 17, paragraph 4, minutesshall be prepared of the following items: (1) Details of the matter determined not to be required to be reported tothe Board of Statutory Auditors;  (2) Date on which the filing of such report to the Board of StatutoryAuditors was determined not to be required; and  (3) Name(s) of the Statutory Auditor(s) who performed the duties involvedin the preparation of minutes. 3. The minutes mentioned in the preceding two paragraphs shall be kept on file bythe Company at the head office for ten (10) years.(Secretariat for the Board of Statutory Auditors)     Article 28. The convocation of meetings of the Board of Statutory Auditors, preparation of theminutes and other businesses concerning the administration thereof shall be assigned to theStatutory Auditors’ staff and other employees to assist the Statutory Auditors to perform theirduties.(Criteria for Audits by the Statutory Auditors)     Article 29. All maters concerning the Board of Statutory Auditors and the audits by StatutoryAuditors shall be governed by the Criteria for Audits by the Statutory Auditors to be determined bythe Board of Statutory Auditors, in addition as provided for in laws or ordinances, the Articles ofIncorporation and these Regulations of the Board of Statutory Auditors.(Amendment and abolition of these Regulations)     Article 30. Any amendment to or abolition of these Regulations shall be made by the Board ofStatutory Auditors.(Effectuation)     Article 31. These Regulations shall become effective as from June 29, 1994.(Effective date of amendment)     Article 32. 1. These Regulations, as amended, shall become effective as from August 11, 1995.  2. These Regulations, as amended, shall become effective as from June 10, 2002.  3. These Regulations, as amended, shall become effective as from April 1, 2003.  4. These Regulations, as amended, shall become effective as from June 22, 2004.  5. These Regulations, as amended, shall become effective as from February 15,2005.  6. These Regulations, as amended, shall become effective as from June 22, 2005.  7. These Regulations, as amended, shall become effective as from June 24, 2006.