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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)
 1.
    
    The transfer agent with respect to the Companys shares, its registered handling place and
liaison offices shall be as follows:
 Transfer agent:
 Mitsubishi UFJ Trust and Banking Corporation
4-5, Marunouchi 1-chome
Chiyoda-ku, Tokyo
 Registered handling place:
 Corporate Agency Department
Mitsubishi UFJ Trust and Banking Corporation
4-5, Marunouchi 1-chome
Chiyoda-ku, Tokyo
 Liaison offices:
 All Japanese branches of
Mitsubishi UFJ Trust and Banking Corporation
Head office and all Japanese branches of
The Nomura Securities Co., Ltd.
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2.
    
    All procedures under these regulations and other procedures for making requests, reports or
applications, etc. with regard to the matters entrusted by the Company to the transfer agent
shall be handled by the transfer agent; provided, however, in case any requests, reports or
applications, etc. are made by the beneficial shareholders as provided in these regulations,
such procedures shall, except pursuant to these regulations, be made through Japan Securities
Depository Center (hereinafter referred to as JASDEC) or participant(s) thereof in
accordance with the rules provided by JASDEC and participants thereof.
 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 any number of shares constituting less than one (1) unit as provided in the Articles of Incorporation
(hereinafter referred to as fractional unit shares), share certificates representing any
such number of fractional unit shares (hereinafter referred to as fractional unit share
certificates) may be issued.2.
    
    Notwithstanding the preceding paragraph, any fractional unit share certificates shall not be
issued, except pursuant to the provisions of Articles 22, 23 and 27.
 Article 4. (Method of Making Requests, Reports or Applications, etc.)
 1.
    
    All requests, reports or applications, etc. 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 15.2.
    
    With regard to the requests, reports or applications, etc. referred to in the preceding
paragraph, the Company may request submission of any document deemed necessary.3.
    
    Should any request, report or application, etc. 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.
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Article 5. (Amendments to Regulations)
  CHAPTER II.
REGISTRATION OF TRANSFER OF SHARES
AND NOTICE WITH RESPECT TO BENEFICIAL SHAREHOLDERS
AND REGISTER OF BENEFICIAL SHAREHOLDERS
 Article 6. (Registration of Transfer of Shares)
 1.
    
    In case registration of a transfer of shares is requested, the request form therefor shall be
submitted together with the share certificates concerned.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 documents 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 7. (Registration of Transfer of Shares Where a Special Procedure is Required by Laws or
Ordinances)
  Article 8. (Notice with Respect to Beneficial Shareholders)
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Article 9. (Recording on Register of Beneficial Shareholders in Writing or Digitally)
  Article 10. (Integration of Register of Shareholders and Register of Beneficial Shareholders)
  CHAPTER III.
REGISTRATION OF PLEDGES AND INDICATION OF TRUST ASSETS
 Article 11. (Registration or Cancellation of Pledge)
 1.
    
    In case registration of a pledge of shares, alteration or cancellation thereof is requested,
the request form therefor signed by both the pledgor and the pledgee shall be submitted
together with the share certificates concerned.2.
    
    In case registration of a pledge of shares, alteration or cancellation thereof is requested
by a beneficial shareholder, notwithstanding the preceding paragraph, he/she shall report
thereof to JASDEC or the participant(s) thereof having the beneficial shareholders account.
 Article 12. (Indication of Trust Assets or Cancellation Thereof)
 1.
    
    In case indication of trust assets in respect to shares, alteration or cancellation thereof
is requested, the request form therefor shall be submitted by either the trustor or the
trustee, together with the share certificates concerned.2.
    
    In case indication of trust assets in respect to shares, alteration or cancellation thereof
is requested by a beneficial shareholder, notwithstanding the preceding paragraph, he/she
shall report thereof to JASDEC or the participant(s) thereof having the beneficial
shareholders account.
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CHAPTER IV.
NON-POSSESSION OF SHARE CERTIFICATES
 Article 13. (Request for Non-Possession of Share Certificates)
  Article 14. (Request for Issuance of Share Certificates in Non-Possession Status)
  CHAPTER V.
REPORTS
 Article 15. (Report of Name, Address and Seal Impression of Shareholder, etc.)
 1.
    
    A shareholder or a beneficial shareholder or his/her legal representative, if any, shall
report his/her name, address and seal impression, and any change thereof; provided, however,
that a foreigner who is accustomed to signing his/her name may substitute his/her specimen
signature for the seal impression.2.
    
    In case only beneficial shareholders seal impression filed as mentioned in the preceding
paragraph is changed, new seal impression shall be filed directly to the transfer agent for
the Company.
 Article 16. (Representative of Corporation)
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Article 17. (Representative of Jointly Owned Shares)
  Article 18. (Report of Address for Notices of Non-Resident Shareholder, etc.)
 1.
    
    A shareholder or a beneficial shareholder or his/her legal representative, if any, who is not
residing in Japan shall, in addition to the procedures provided in Article 15, either appoint
a standing proxy or designate the mailing address in Japan and shall report thereon.2.
    
    The provisions of Article 15 shall apply mutatis mutandis to a standing proxy.
 Article 19. (Change of Entries in Register of Shareholders, in Register of Beneficial Shareholders and in Share Certificates)
  (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; or(4)  Change in corporate organization.
 Article 20. (Application of Provisions to Registered Pledgees)
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CHAPTER VI.
REISSUANCE OF SHARE CERTIFICATES
 Article 21. (Reissuance Due to Splitting or Consolidation)
  Article 22. (Reissuance Due to Defacement or Mutilation)
  Article 23. (Reissuance Due to Completion of Columns for Shareholders Names)
  Article 24. (Automatic Consolidation of Fractional Unit Share Certificates)
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CHAPTER VII.
REISSUANCE OF SHARE CERTIFICATES DUE TO LOSS
 Article 25. (Application for Registration of Loss of Share Certificates and Application for Cancellation Thereof)
 1.
    
    In case registration of loss of share certificates is applied, the application form therefor
shall be submitted together with a document evidencing acquisition of the share certificates
concerned, a document evidencing loss thereof and a document for identification of the
applicant; provided, however, in case the registered shareholder or pledgee (the nominee) of
the shares evidenced by such lost share certificates applies for registration of such loss, a
document evidencing acquisition thereof and a document for identification of the applicant
shall not be required.2.
    
    In case those who registered the loss of share certificates as mentioned in the preceding
paragraph cancel such registration, the application form therefor shall be submitted.
 Article 26. (Application for Objection to Registration of Loss of Share Certificates)
  Article 27. (Reissuance Due to Lapse of Share Certificates)
 1.
    
    The share certificates which were registered as lost shall lapse on the date one year after
such registration of loss of share certificates; provided, however, in case an application is
made pursuant to paragraph 2 of Article 25 or the preceding Article 26, or in the case
provided by paragraph 2 of Article 230-7 of the Commercial Code, the provisions of this
paragraph shall not be applied thereto.2.
    
    In case reissuance of lapsed share certificates is requested, the request form therefor shall
be submitted.
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Article 28. (Application of the Provisions Concerning the Reports)
  CHAPTER VIII.
PURCHASE OF FRACTIONAL UNIT SHARES
 Article 29. (Purchase of Fractional Unit Shares)
 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 or the participant(s)
thereof having the beneficial shareholders account.3.
    
    In the case of the preceding two paragraphs, the party
requesting purchase of fractional unit shares by the Company may not designate the purchase price.4.
    
    A party who has requested the purchase of fractional unit shares by the Company may not
revoke such request.
 Article 30. (Determination of Purchase Price)
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Article 31. (Payment of Proceeds)
 1.
    
    The Company shall pay to the requesting party the amount obtained by multiplying the purchase
price determined in accordance with the preceding Article 30, by the number of fractional unit shares to be purchased (hereinafter referred to as proceeds) on the fourth (4th) business
day from (and including) the day on which the request for purchase reached the registered
handling place provided in Article 2 or, if later, from (and including) the day on which the
purchase price was determined; provided, however, that in case a liaison office provided in
Article 2 received such request, the proceeds shall be paid to the requesting party on the
seventh (7th) business day from (and including) the day on which such request reached the
liaison office or, if later, from (and including) the day on which the purchase price was
determined.2.
    
    Notwithstanding the preceding paragraph, if the purchase price reflects the right to receive
dividends or stock split, or the right to subscribe for new shares or share acquisition rights
(including the right to subscribe for bonds with share acquisition rights), etc., the proceeds
shall be paid not later than the record date or allotment date, respectively. However, if the
purchase price reflects ex-right to receive dividends or stock split, or ex-right to subscribe
for new shares or share acquisition rights (including the right to subscribe for bonds with
share acquisition rights), etc., the proceeds shall be paid after the record date or allotment
date, respectively.3.
    
    The Company may deduct from the proceeds remittance costs and all other actual costs incurred
in paying the proceeds.
 Article 32. (Date of Transfer of Purchased Shares)
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CHAPTER IX.
SALE OF FRACTIONAL UNIT SHARES
 Article 33. (Request for Sale of Fractional Unit Shares)
 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 34; 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 or the participant(s) thereof
having the beneficial shareholders account.3.
    
    A party who has requested the sale of fractional unit shares by the Company may not revoke
such request.
 Article 34. (Advanced Payment)
  Article 35. (Restriction on Requests for Sale)
  Article 36. (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.
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Article 37. (Determination of Sale Price)
  Article 38. (Receipt of Sale Proceeds)
 1.
    
    The Company shall receive the amount obtained by multiplying the sale price determined in
accordance with the preceding Article 37, by the number of fractional unit shares requested
for sale (hereinafter referred to as sale proceeds) from the advanced payment on the sixth
(6th) business day from (and including) the day on which the sale price was determined.2.
    
    Notwithstanding the preceding paragraph, if the sale price reflects the right to receive
dividends or stock split, or the right to subscribe for new shares or share acquisition rights
(including the right to subscribe for bonds with share acquisition rights), etc., the sale
proceeds shall be received not later than the record date or allotment date, respectively.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.
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Article 39. (Date of Transfer of Sold Shares)
  Article 40. (Delivery of Share Certificates)
  CHAPTER X.
CHARGES
 Article 41. (Charges)
 1.
    
    No fees shall be levied on the requesting party for handling of shares of the Company except
for the following case.
 Application for registration of loss of share certificates as mentioned in Article 25
 10,000 yen per one case
500 yen per one share certificate
 2.
    
    Any consumption tax imposed on the fee referred to in the preceding paragraph shall be borne
by the applicant.
 SUPPLEMENTARY PROVISIONS
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