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Exhibit 1.2
  NIS GROUP CO., LTD.
 SHARE HANDLING REGULATIONS
 Chapter I. General Provisions




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Chapter II. Entries or Records in the Register of Shareholders




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Chapter III. Registration of Pledge and Indication of Trust Property
     Chapter IV. Non-Possession of Share Certificates
     Chapter V. Notification of Various Matters
      mutatis mutandis




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(1)
    
    Change of surname or given name.(2)
    
    Appointment, change or discharge of a legal representative, such as a person to exercise
parental power and a guardian.(3)
    
    Change of trade name or corporate name.(4)
    
    Corporate reorganization.




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Chapter VI. Registration of Loss of Share Certificates
        mutatis mutandis
 Chapter VII. Reissue of Share Certificates




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Chapter VIII. Purchase of Less-Than-One-Unit Shares
           Chapter IX. Fees
   1.
    
    Application for registration of loss of share certificates under Article 21 hereof:
¥8,600 in each instance of the registration of loss of share certificates
¥500 for each sheet of share certificate registered as lost
In case of any application for cancellation of the registration of loss of share
certificates, no fees for the registration of loss of share certificates already
collected shall be refunded.2.
    
    Purchase of less-than-one-unit shares under Article 28 hereof:
An amount to be separately specified as equivalent to the brokerage commission for
sale and purchase of shares.




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Chapter X. Supplementary Provisions
       2.
    
    These Regulations, as amended, shall become effective as from August 1, 1992.3.
    
    These Regulations, as amended, shall become effective as from February 1, 1994.4.
    
    These Regulations, as amended, shall become effective as from April 1, 1994.5.
    
    These Regulations, as amended, shall become effective as from August 1, 1995.6.
    
    These Regulations, as amended, shall become effective as from June 28, 1996.7.
    
    These Regulations, as amended, shall become effective as from September 5, 1996.8.
    
    These Regulations, as amended, shall become effective as from September 8, 1998.9.
    
    These Regulations, as amended, shall become effective as from December 14, 1998.10.
    
    These Regulations, as amended, shall become effective as from October 1, 1999.11.
    
    These Regulations, as amended, shall become effective as from February 14, 2000.12.
    
    These Regulations, as amended, shall become effective as from October 10, 2001.13.
    
    These Regulations, as amended, shall become effective as from June 22, 2002.14.
    
    These Regulations, as amended, shall become effective as from April 1, 2003;
provided, however, that Article 2 hereof, as amended, shall become effective as
from May 6, 2003.15.
    
    These Regulations, as amended, shall become effective as from June 1, 2003.16.
    
    These Regulations, as amended, shall become effective as from June 23, 2005.17.
    
    These Regulations, as amended, shall become effective as from June 24, 2006.18.
    
    These Regulations, as amended, shall become effective as from October 1, 2006.