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(Translation)
 SHARE HANDLING REGULATIONS
OF
PIONEER CORPORATION  (Pioneer Kabushiki Kaisha)
 
 CHAPTER I.
GENERAL PROVISIONS
 Article 1. (Purpose)
  Article 2. (Transfer Agent)




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Article 3. (Denominations of Share Certificates)
 (1)
    
    All share certificates issued by the Company shall be in eight (8) denominations of one (1),
ten (10), fifty (50), one hundred (100), five hundred (500), one thousand (1,000), five
thousand (5,000) and ten thousand (10,000) shares; provided, however, that as to fractional
unit shares as provided in the Articles of Incorporation, share certificates representing any
such number of fractional unit shares may be issued.
 (2)
    
    Notwithstanding the preceding paragraph, shareholders may not request the issuance of share
certificates representing any number of fractional unit shares, except pursuant to the
provisions of Article 15 (Request for Issuance of Share Certificates in Non-Possession
Status), Article 24 (Reissuance Due to Defacement or Mutilation)and Article 25 (Reissuance
Due to Completion of Columns for Shareholders Names).
 Article 4. (Description of Share Certificates)
  Article 5. (Requests or Reports, etc.)
 (1)
    
    All requests, reports or applications under these regulations shall be made in the forms
prescribed by the Company and shall bear the seal impression filed in accordance with the
provisions of Article 16 (Report of Name, Address and Seal Impression of Shareholder, etc.).
 (2)
    
    With regard to the requests, reports or applications referred to in the preceding paragraph,
the Company may request submission of any document deemed necessary.
 (3)
    
    Should any request, report or application referred to in paragraph 1 above be made by a
proxy, a document evidencing his/her authority, or any such act be required to be made with
consent of a curator (hosanin) or an assistant (hojonin), a document evidencing such consent,
shall be submitted.
 Article 6. (Amendments to the Provisions of These Regulations)
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CHAPTER II.
RECORDING ON REGISTER OF SHAREHOLDERS IN WRITING OR DIGITALLY
 Article 7. (Registration of Transfer of Shares)
 (1)
    
    In case entry of a transfer of shares is requested in the register of shareholders in writing
or digitally (hereinafter referred to as registration of a transfer of shares) is requested,
the request form therefor shall be submitted together with the share certificates concerned
setting forth the name of the requesting party.
 (2)
    
    In case registration of a transfer of shares is requested in respect to shares acquired for
any reason other than assignment, a document evidencing the acquisition shall be submitted in
addition to the procedures provided in the preceding paragraph; provided, however, that if no
share certificates have been issued for such shares, submission of share certificates shall
not be required.
 Article 8. (Registration of Transfer of Shares Where a Special Procedure is Required by Laws or Ordinances)
  Article 9. (Recording on Register of Beneficial Shareholders in Writing or Digitally)
  Article 10. (Integration of Register of Shareholders and Register of Beneficial Shareholders)
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Article 11.
    
    (Recording on Register of Share Acquisition Rights in Writing or Digitally)
  CHAPTER III.
REGISTRATION OF PLEDGES AND INDICATION OF TRUST ASSETS
 Article 12.
    
    (Registration or Cancellation of Pledge)
  Article 13.
    
    (Indication of Trust Assets or Cancellation Thereof)
  CHAPTER IV.
NON-POSSESSION OF SHARE CERTIFICATES
 Article 14.
    
    (Request for Non-Possession of Share Certificates)
  Article 15.
    
    (Request for Issuance of Share Certificates in Non-Possession Status)
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CHAPTER V.
REPORTS
 Article 16.
    
    (Report of Name, Address and Seal Impression of Shareholder, etc.)
  Article 17.
    
    (Representative of Jointly Owned Shares)
  Article 18.
    
    (Representative of a Shareholder Who Is a Corporation)
  Article 19.
    
    (Report of Address for Notices of Non-Resident Shareholders, etc.)
 (1)
    
    A shareholder, a beneficial shareholder and a stock pledgee or his/her legal representative,
if any, who is not residing in Japan shall, in addition to the procedures provided in Article
16 (Report of Name, Address and Seal Impression of Shareholder, etc.), either appoint a
standing proxy or designate the mailing address in Japan and shall report thereon.(2)
    
    The provisions of Article 16 shall apply mutatis mutandisto a standing proxy.
 Article 20.
    
    (Change of Entries in Register of Shareholders, in Register of Beneficial Shareholders
and in Share Certificates)
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1.
    
    Change of family name or personal name.2.
    
    Appointment, change or release of a person having parental authority,
a guardian or other legal representative.3.
    
    Change of trade name or corporate name.4.
    
    Change in corporate organization.
 Article 21.
    
    (Reporting Method by Beneficial Shareholders)
  Article 22.
    
    (Reporting Method by Holders of Share Acquisition Rights)
  CHAPTER VI.
REISSUANCE OF SHARE CERTIFICATES
 Article 23.
    
    (Reissuance Due to Splitting or Consolidation)
  Article 24.
    
    (Reissuance Due to Defacement or Mutilation)
  Article 25.
    
    (Reissuance Due to Completion of Columns for Shareholders Names)
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Article 26.
    
    (Automatic Consolidation of Fractional Unit Share Certificates)
  CHAPTER VII.
REGISTRATION OF LOSS OF SHARE CERTIFICATES
 Article 27.
    
    (Request for Registration of Loss of Share Certificates)
  Article 28.
    
    (Application for Cancellation of Registration of Loss of Share Certificates by the Party Who Registered Such Loss)
  Article 29.
    
    (Application for Cancellation of Registration of Loss of Share Certificates by the Party Holding Such Share Certificates)
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Article 30.
    
    (Application of the Provisions Concerning the Reports)
 (Report of Name, Address and Seal Impression of Shareholder, etc.) (Change of
Entries in Register of Shareholders, in Register of Beneficial Shareholders and in Share
Certificates) mutatis mutandis
 CHAPTER VIII.
PURCHASE OF FRACTIONAL UNIT SHARES
 Article 31.
    
    (Method of Request for Purchase)
 (1)
    
    In case purchase by the Company of fractional unit shares is requested by a shareholder, the
request form therefor shall be submitted together with the share certificates concerned;
provided, however, that if no share certificates have been issued for such shares, submission
of share certificates shall not be required.(2)
    
    In case a request referred to in the preceding paragraph is made by a beneficial shareholder,
such purchase of fractional unit shares shall be made through JASDEC and the participant(s).(3)
    
    A party who has requested the purchase of fractional unit shares by the Company may not
revoke such request.
 Article 32.
    
    (Determination of Purchase Price)
 (1)
    
    The purchase price per share for fractional unit shares shall be the last selling price per
share on the Tokyo Stock Exchange on the day on which such request reached the registered
handling place or a liaison office of the transfer agent provided in Article 2; provided,
however, that should no sale of shares take place on the Tokyo Stock Exchange on that day or
should that day be a day when the Tokyo Stock Exchange is closed, the purchase price per share
shall be the first selling price per share effected thereafter.(2)
    
    The purchase price shall be obtained by multiplying the purchase price per share referred to
in the preceding paragraph by the number of shares requested for purchase.
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Article 33.
    
    (Payment of Proceeds)
 (1)
    
    The Company shall pay the proceeds to the requesting party on the fourth (4th) business day
from (and including) the day on which the purchase price was determined unless the Company
otherwise determines.(2)
    
    Notwithstanding the preceding paragraph, if the purchase price reflects the right to receive
dividends from surplus or stock split, etc., the proceeds shall be paid not later than the
record date.(3)
    
    The Company may deduct from the proceeds remittance costs and all other actual costs incurred
in paying the proceeds.
 Article 34.
    
    (Date of Transfer of Purchased Shares)
  CHAPTER IX.
SALE OF FRACTIONAL UNIT SHARES
 Article 35.(Method of Request for Sale)
 (1)
    
    In case sale by the Company of fractional unit shares is requested by a shareholder
(hereinafter referred to as request for sale), the request form therefor shall be submitted
together with the share certificates concerned and the advanced payment provided in the
following Article 36; provided, however, that if no share certificates have been issued for
such shares, submission of share certificates shall not be required.(2)
    
    In case a request referred to in the preceding paragraph is made by a beneficial shareholder,
such sale of fractional unit shares shall be made through JASDEC and the participant(s).(3)
    
    A party who has requested the sale of fractional unit shares by the Company may not revoke
such request.
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Article 36.
    
    (Advanced Payment)
  Article 37.
    
    (Restriction on Requests for Sale)
  Article 38.
    
    (Suspension Period of Requests for Sale)
 (1)
    
    The Company shall suspend acceptance of requests for sale, during the period from twelve (12)
business days prior to March 31 up to March 31 of each year and during the period from twelve
(12) business days prior to September 30 up to September 30 of each year.(2)
    
    In addition to the periods referred to in the preceding paragraph, the Company may suspend
acceptance of requests for sale any time as it deems necessary.
 Article 39.
    
    (Determination of Sale Price)
 (1)
    
    The sale price per share for fractional unit shares shall be the last selling price per share
on the Tokyo Stock Exchange on the day on which such request reached the registered handling
place or a liaison office of the transfer agent provided in Article 2; provided, however, that
should no sale of shares take place on the Tokyo Stock Exchange on that day or should that day
be a day when the Tokyo Stock Exchange is closed, the sale price per share shall be the first
selling price per share effected thereafter.(2)
    
    The sale price shall be obtained by multiplying the sale price per share referred to in the
preceding paragraph by the number of shares requested for sale.
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Article 40.
    
    (Receipt of Sale Proceeds)
 (1)
    
    The Company shall receive the sale proceeds from the advanced payment on the sixth (6th)
business day from (and including) the day on which the sale price was determined (in case of a
request under paragraph 4 below, the day on which the relevant shortfall is paid).(2)
    
    Notwithstanding the preceding paragraph, if the sale price reflects the right to receive
dividends from surplus or stock split, etc., the sale proceeds shall be received not later
than the record date.(3)
    
    The amount obtained by deducting the sale proceeds from the advanced payment shall be
returned to the shareholder who requested such sale by transferring such amount to the bank
account, etc. designated by such shareholder or by cash payment through postal transfer.(4)
    
    If the advanced payment is less than the sale proceeds, the Company shall request a payment
of such shortfall to the shareholder who requested such sale and receive the sale proceeds
within six (6) business days from (and including) the day on which such shortfall is paid;
provided, however, that if such shortfall is not paid within six (6) business days from (and
including) the day on which the Company requested the payment of such shortfall, the request
for sale concerned shall become invalid.
 Article 41.
    
    (Date of Transfer of Sold Shares)
  Article 42.
    
    (Delivery of Share Certificates)
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CHAPTER X.
CHARGES
 Article 43.
    
    (Charges)
 (1)
    
    No charges shall be levied on the requesting party for handling of shares of the Company
except for the following case.
 Request for registration of loss of share certificates as mentioned in Article 27
 
 (2)
    
    Any consumption tax imposed on the charge referred to in the preceding paragraph shall be
borne by the applicant.
 SUPPLEMENTARY PROVISIONS
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