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EXHIBIT 2(a).01

(Translation)

SHARE HANDLING REGULATIONS

as amended as of June 27, 2003

PIONEER CORPORATION

(Pioneer Kabushiki Kaisha)





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(Translation)

SHARE HANDLING REGULATIONS
OF
PIONEER CORPORATION(Pioneer Kabushiki Kaisha)



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CHAPTER I.
GENERAL PROVISIONS

|                                                                                   |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  |                                         
|---------------------------------------------------------------------------------- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ------------------------------------------------------------------------------------------------------------------------------ |  | ----------------------------------------
|(Purpose)                                                                          |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  |                                         
|Article 1.                                                                         |  | By authority granted by the provisions of the Articles of
Incorporation of the Company, as amended, these regulations
shall govern the denominations of share certificates of the
Company, as well as the business pertaining to handling of
shares and the charges therefor.
|                                                                                   |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  |                                         
|(Registered handling place, handling office and liaison offices of transfer agent)
|Article 2.                                                                         |  | 1.                                                                                                                                                                                                                                                                            |  | The transfer agent for the Company and its registered handling
place, handling office and liaison offices shall be as follows:
|                                                                                   |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  |                                         
|                                                                                   |  | Transfer agent:                                                                                                                                                                                                                                                              
|                                                                                   |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  | UFJ Trust Bank Limited                  
|                                                                                   |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  | 4-3, Marunouchi 1-chome                 
|                                                                                   |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  | Chiyoda-ku, Tokyo                       
|                                                                                   |  | Registered handling place:                                                                                                                                                                                                                                                   
|                                                                                   |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  | Corporate Agency Department             
|                                                                                   |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  | UFJ Trust Bank Limited                  
|                                                                                   |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  | 4-3, Marunouchi 1-chome                 
|                                                                                   |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  | Chiyoda-ku, Tokyo                       
|                                                                                   |  | Handling office:                                                                                                                                                                                                                                                             
|                                                                                   |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  | Corporate Agency Department             
|                                                                                   |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  | UFJ Trust Bank Limited                  
|                                                                                   |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  | 10-11, Higashisuna 7-chome              
|                                                                                   |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  | Koto-ku, Tokyo                          
|                                                                                   |  | Liaison offices:                                                                                                                                                                                                                                                             
|                                                                                   |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  | All Japanese branches of                
|                                                                                   |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  | UFJ Trust Bank Limited                  
|                                                                                   |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  | Head office and all Japanese branches of
|                                                                                   |  |                                                                                                                                                                                                                                                                               |  |                                                                                                                                |  | The Nomura Securities Co., Ltd.         



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2

|                                                           |  |    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |  | 
|---------------------------------------------------------- |  | -- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | 
|                                                           |  | 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.
|                                                           |  |    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |  | 
|(Denominations of share certificates)                     
|Article 3.                                                 |  | 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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|                                                           |  |    |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |  | 
|(Method of making requests, reports or applications, etc.)
|Article 4.                                                 |  | 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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                    



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3

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|------------------------------------------------------------------------------------------------ |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | 
|                                                                                                 |  | 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.                                                                                        
|                                                                                                 |  |                                                                                                                                                                                                                                                                                                      |  |                                                                                                                                                                                                                                                                                                                                                                                                     |  | 
|(Amendments to regulations)                                                                     
|Article 5.                                                                                       |  | A resolution of the Board of Directors shall be required
for any amendment to these regulations.                                                                                                                                                                                                    
|                                                                                                 |  |                                                                                                                                                                                                                                                                                                      |  |                                                                                                                                                                                                                                                                                                                                                                                                     |  | 
|CHAPTER II.                                                                                     
|REGISTRATION OF TRANSFER OF SHARES                                                              
|AND NOTICE WITH RESPECT TO BENEFICIAL SHAREHOLDERS                                              
|AND REGISTER OF BENEFICIAL SHAREHOLDERS                                                         
|                                                                                                 |  |                                                                                                                                                                                                                                                                                                      |  |                                                                                                                                                                                                                                                                                                                                                                                                     |  | 
|(Registration of transfer of shares)                                                            
|Article 6.                                                                                       |  | 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.
|                                                                                                 |  |                                                                                                                                                                                                                                                                                                      |  |                                                                                                                                                                                                                                                                                                                                                                                                     |  | 
|(Registration of transfer of shares where a special procedure is required by laws or ordinances)
|Article 7.                                                                                       |  | In case the performance of a special procedure is required by laws or ordinances for a
transfer of shares referred to in the preceding Article 6, a document evidencing the
completion of such special procedure shall be submitted together with the documents
required in the preceding Article 6.



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4

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|--------------------------------------------------------------------------------- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | 
|                                                                                  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  |                                                                                                                                                                                                                                                                                    |  | 
|(Notice with respect to beneficial shareholders)                                 
|Article 8.                                                                        |  | In case entry in the register of beneficial shareholders in writing or digitally is
requested by a beneficial shareholder, his/her name, address and other necessary matters
required to be recorded thereon in writing or digitally shall be reported to JASDEC or
the participant(s) thereof having the beneficial shareholders account, and a notice by
JASDEC with respect to the relevant beneficial shareholder shall be given to the transfer
agent for the Company pursuant to the laws or ordinances and rules prescribed by JASDEC.
|                                                                                  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  |                                                                                                                                                                                                                                                                                    |  | 
|(Recording on register of beneficial shareholders in writing or digitally)       
|Article 9.                                                                        |  | Entry in the register of beneficial shareholders in writing or digitally shall be made
upon the notice with respect to beneficial shareholders referred to in the preceding
Article 8.                                                                                                                                                                                                                                                                                                                                                        
|                                                                                  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  |                                                                                                                                                                                                                                                                                    |  | 
|(Integration of register of shareholders and register of beneficial shareholders)
|Article 10.                                                                       |  | In case a shareholder recorded on the register of shareholders in writing or
digitally is deemed to be the same person as a beneficial shareholder recorded on the
register of beneficial shareholders in writing or digitally, the number of shares
recorded on the register of shareholders in writing or digitally and that recorded on
the register of beneficial shareholders in writing or digitally shall be aggregated
with respect to the exercise of shareholders rights.                                                          
|                                                                                  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  |                                                                                                                                                                                                                                                                                    |  | 
|CHAPTER III.                                                                     
|REGISTRATION OF PLEDGES AND INDICATION OF TRUST ASSETS                           
|                                                                                  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  |                                                                                                                                                                                                                                                                                    |  | 
|(Registration or cancellation of pledge)                                         
|Article 11.                                                                       |  | 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.



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5

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|------------------------------------------------------------------------------- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | 
|(Indication of trust assets or cancellation thereof)                           
|Article 12.                                                                     |  | 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.
|                                                                                |  |                                                                                                                                                                                                                                                                                                                                                                                                       |  |                                                                                                                                                                                                                                                                                                 |  | 
|CHAPTER IV.                                                                    
|NON-POSSESSION OF SHARE CERTIFICATES                                           
|                                                                                |  |                                                                                                                                                                                                                                                                                                                                                                                                       |  |                                                                                                                                                                                                                                                                                                 |  | 
|(Request for non-possession of share certificates)                             
|Article 13.                                                                     |  | In case non-possession of share certificates by
the shareholder is requested, the request form
therefor shall be submitted together with the
share certificates concerned; provided, however,
that if the share certificates concerned have
not yet been issued, submission of the share
certificates shall not be required.                                                                         
|                                                                                |  |                                                                                                                                                                                                                                                                                                                                                                                                       |  |                                                                                                                                                                                                                                                                                                 |  | 
|(Request for issuance or return of share certificates in non-possession status)
|Article 14.                                                                     |  | A shareholder who has requested non-possession of share certificates may at any time
submit a request in the prescribed form for issuance or return, as the case may be, of
the share certificates; provided, however, that no request shall be made for issuance
of fractional unit share certificates if the Company has treated the certificates for
such shares as non-issued share certificates.



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6

|                                                                   |  |                                                                                                                                                                                                                                                                                                                      |  |                                                                                                                                                                                                                                                                                                                     |  | 
|------------------------------------------------------------------ |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | 
|CHAPTER V.                                                        
|REPORTS                                                           
|                                                                   |  |                                                                                                                                                                                                                                                                                                                      |  |                                                                                                                                                                                                                                                                                                                     |  | 
|(Report of name, address and seal impression of shareholder, etc.)
|Article 15.                                                        |  | 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.                                                                                                                 
|                                                                   |  |                                                                                                                                                                                                                                                                                                                      |  |                                                                                                                                                                                                                                                                                                                     |  | 
|(Representative of corporation)                                   
|Article 16.                                                        |  | In case a shareholder or a beneficial shareholder is
a corporation, the name of one representative of such
corporation shall be reported. In case of a change
of its representative, the report form therefor shall
be submitted together with a certified copy of an
extract of its commercial registration record.
|                                                                   |  |                                                                                                                                                                                                                                                                                                                      |  |                                                                                                                                                                                                                                                                                                                     |  | 
|(Representative of jointly owned shares)                          
|Article 17.                                                        |  | A shareholder or a beneficial shareholder who jointly
owns shares shall appoint one representative and
shall report on such appointment. The same shall
apply in case of a change of their representative.                                                                                                          
|                                                                   |  |                                                                                                                                                                                                                                                                                                                      |  |                                                                                                                                                                                                                                                                                                                     |  | 
|(Report of address for notices of nonresident shareholder, etc.)  
|Article 18.                                                        |  | 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.                                                                                                                                                                                                                                     



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7

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|----------------------------------------------------------------------------------------------------------------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | --------------------------------------------------------------------------------------------------------------- |  | 
|(Change of entries in register of shareholders, in register of beneficial shareholders and in share certificates)
|Article 19.                                                                                                       |  | Should any change in an entry in the register of
shareholders, in the register of beneficial
shareholders and in share certificates be desired for
the reasons set forth below, the report form therefor
shall be submitted, together with the share
certificates concerned and a document evidencing the
change; provided, however, that if no share
certificates have been issued for such shares and any
change in an entry in the register of beneficial
shareholders have been made, submission of share
certificates shall not be required.
|                                                                                                                  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  |                                                                                                                 |  | 
|                                                                                                                  |  | (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.                                                                              
|                                                                                                                  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  |                                                                                                                 |  | 
|(Application of provisions to registered pledgees)                                                               
|Article 20.                                                                                                       |  | The provisions of this Chapter shall apply
mutatis mutandis to registered pledgees.                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|                                                                                                                  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  |                                                                                                                 |  | 
|CHAPTER VI.                                                                                                      
|REISSUANCE OF SHARE CERTIFICATES                                                                                 
|                                                                                                                  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  |                                                                                                                 |  | 
|(Reissuance due to splitting or consolidation)                                                                   
|Article 21.                                                                                                       |  | In case issuance of new share
certificates for the purpose of
splitting or consolidating share
certificates is requested, the request
form therefor shall be submitted
together with the share certificates
concerned; provided, however, that no
request shall be made for issuance of
fractional unit share certificates
resulting from splitting or
consolidation.                                                                                                                                                                            
|                                                                                                                  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  |                                                                                                                 |  | 
|(Reissuance due to defacement or mutilation)                                                                     
|Article 22.                                                                                                       |  | In case issuance of new share
certificates due to defacement or
mutilation is requested, the request
form therefor shall be submitted
together with the share certificates
concerned; provided, however, that if it
is difficult to discern whether the
share certificates in question are
genuine or not because of remarkable
damage, the provisions prescribed by
Chapter VII shall be applied.                                                                                                                                               



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8

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|----------------------------------------------------------------------------------------------------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | 
|(Reissuance due to completion of columns for shareholders names)                                    
|Article 23.                                                                                           |  | In case all the columns for names of
acquirers on a share certificate have
been filled, the share certificates
concerned shall be retired and new share
certificates shall be issued.                                                                                                                                                                                                                                    
|                                                                                                      |  |                                                                                                                                                                                                                                                                                                                                                                                                                           |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  | 
|(Automatic consolidation of fractional unit share certificates)                                      
|Article 24.                                                                                           |  | Fractional unit share certificates
submitted for a registration of transfer
of shares shall, whenever the aggregate
number of shares represented by such
certificates amounts to a full unit or an
integral multiple of a unit, be
consolidated into full unit share
certificates, unless the party requesting
such registration has instructed
otherwise.                                                               
|                                                                                                      |  |                                                                                                                                                                                                                                                                                                                                                                                                                           |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  | 
|CHAPTER VII.                                                                                         
|REISSUANCE OF SHARE CERTIFICATES DUE TO LOSS                                                         
|                                                                                                      |  |                                                                                                                                                                                                                                                                                                                                                                                                                           |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  | 
|(Application for registration of loss of share certificates and application for cancellation thereof)
|Article 25.                                                                                           |  | 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.                                                                                                                                                                                                                                                                                                                                                                                                                
|                                                                                                      |  |                                                                                                                                                                                                                                                                                                                                                                                                                           |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  | 
|(Application for objection to registration of loss of share certificates)                            
|Article 26.                                                                                           |  | In case objection to registration of loss of share certificates is applied, the application form
therefor shall be submitted together with the share certificate concerned and a document for
identification of the applicant; provided, however, in case the nominee of the lost share
certificates applies for objection to registration of loss, a document for identification of the
applicant shall not be required.



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9

|                                                       |  |                                                                                                                                                                                                                                                    |  |                                                                                                                                                                                                                                                                                                                                                                                                                  |  | 
|------------------------------------------------------ |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | 
|(Reissuance due to lapse of share certificates)       
|Article 27.                                            |  | 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.                                                                                                                                                                                                                                                                                                     
|                                                       |  |                                                                                                                                                                                                                                                    |  |                                                                                                                                                                                                                                                                                                                                                                                                                  |  | 
|(Application of the provisions concerning the reports)
|Article 28.                                            |  | In case those who registered the loss of share
certificates change the description of the
register of lost share certificates recorded
in writing or digitally, the provisions of
Articles 15 through 19 hereof shall be applied
mutatis mutandis.
|                                                       |  |                                                                                                                                                                                                                                                    |  |                                                                                                                                                                                                                                                                                                                                                                                                                  |  | 
|CHAPTER VIII.                                         
|PURCHASE OF FRACTIONAL UNIT SHARES                    
|                                                       |  |                                                                                                                                                                                                                                                    |  |                                                                                                                                                                                                                                                                                                                                                                                                                  |  | 
|(Purchase of fractional unit shares)                  
|Article 29.                                            |  | 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.                                                                                                                                                                                                                                                                                                    



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10

|                                  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |  | 
|--------------------------------- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | 
|(Determination of purchase price)
|Article 30.                       |  | A purchase price per share for fractional unit shares for
which the request for purchase is made shall be the last
selling price per share on the Tokyo Stock Exchange on the
date of arrival of a request for purchase at the handling
office or a liaison office 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.
|                                  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |  | 
|(Payment of proceeds)            
|Article 31.                       |  | 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 when the request for
purchase reached the handling office
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 the request for
purchase, the proceeds shall be paid
to the requesting party on the
seventh (7th) business day from (and
including) the day when the request
for purchase 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.                                                                                                                                                                      



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11

|                                             |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                            |  | 
|-------------------------------------------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ |  | 
|                                             |  | 3.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |  | The Company may deduct from the proceeds
remittance costs and all other actual costs incurred in paying
the proceeds.                                                                                                                                                                                                                                                                                                                     
|                                             |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                            |  | 
|(Date of transfer of purchased shares)      
|Article 32.                                  |  | The title to the fractional unit shares for which the
request for purchase is made shall be transferred to
the Company on the date when the Company completes all
procedures for payment of the proceeds in accordance
with the preceding Article 31.                                                                                                                                                                                                                                                                                                                                           
|                                             |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                            |  | 
|CHAPTER IX.                                 
|SALE OF FRACTIONAL UNIT SHARES              
|                                             |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                            |  | 
|(Request for sale of fractional unit shares)
|Article 33.                                  |  | 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.                                                                                                                                                                                                                                                                                                                                  
|                                             |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |  |                                                                                                                                                                                                                                                                                                                                                                                                                                            |  | 
|(Advanced payment)                          
|Article 34.                                  |  | The advanced payment shall be the amount obtained by
multiplying the last selling price per share on the Tokyo
Stock Exchange on the business day immediately preceding
the day of request for sale (if no sale of shares take
place on the Tokyo Stock Exchange on that day or if that
day is a day when the Tokyo Stock Exchange is closed, the
last selling price per share on the day immediately
preceding that day) by the number of shares requested for
sale and multiplying the result by 1.3. Any fraction less
than one thousand (1,000) yen resulting therefrom shall be
rounded up.



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12

|                                         |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  |                                                                                                                                                                                                                                                                                                                                                                            |  | 
|---------------------------------------- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | 
|(Restriction on requests for sale)      
|Article 35.                              |  | If the aggregate number of fractional unit shares for which
the request for sale is made on the same day exceeds the
number of shares reserved by the Company for requests for
sale, all the request for sale on that day shall not become
effective.                                                                                                                                                                                                                                                                                          
|                                         |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  |                                                                                                                                                                                                                                                                                                                                                                            |  | 
|(Suspension period of requests for sale)
|Article 36.                              |  | 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.                                                                                                                                                                                                                
|                                         |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  |                                                                                                                                                                                                                                                                                                                                                                            |  | 
|(Determination of sale price)           
|Article 37.                              |  | A sale price per share for fractional unit shares for which
the request for sale is made shall be the last selling price
per share on the Tokyo Stock Exchange on the date of arrival
of a request for sale at the handling office or a liaison
office 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.
|                                         |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |  |                                                                                                                                                                                                                                                                                                                                                                            |  | 
|(Receipt of sale proceeds)              
|Article 38.                              |  | 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.



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##### 



13

|                                  |  |                                                                                                                                                                                                                                                                                                                           |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  | 
|--------------------------------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |  | 
|                                  |  | 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.
|                                  |  |                                                                                                                                                                                                                                                                                                                           |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  | 
|(Date of transfer of sold shares)
|Article 39.                       |  | The title to the fractional unit shares for which the
request for sale is made shall be transferred to the
shareholder or beneficial shareholder who requested such
sale on the date of receipt of the sale proceeds in full
in accordance with the preceding Article 38.                                                
|                                  |  |                                                                                                                                                                                                                                                                                                                           |  |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  | 
|(Delivery of share certificates) 
|Article 40.                       |  | The Company shall, without delay, issue share
certificates for the shares which become a full unit
following the request for sales and deliver such share
certificates to the shareholder who requested such sale;
provided, however, that this provision shall not apply
when beneficial shareholders make such request.



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14

|                                                                       |  |    |  |                                                                                                                      |  |                                  
|---------------------------------------------------------------------- |  | -- |  | -------------------------------------------------------------------------------------------------------------------- |  | ---------------------------------
|CHAPTER X.                                                            
|CHARGES                                                               
|                                                                       |  |    |  |                                                                                                                      |  |                                  
|(Charges)                                                             
|Article 41.                                                            |  | 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                                              
|                                                                       |  |    |  |                                                                                                                      |  |                                  
|These regulations, as amended, shall come into force on June 27, 2003.