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Exhibit 1.3

[Translation]

REGULATIONS OF THE BOARD OF DIRECTORS

CHAPTER 1.     GENERAL PROVISIONS

Article 1.     (Object)

The object of these Regulations is to provide for regulations in respect
of the Board of Directors, and to manage its due and smooth operations.

Article 2.     (Application)

All matters relating to the Board of Directors of the Company, expect
those provided for in laws and regulations or in the Articles of Incorporation,
shall be governed by these Regulations.

Article 3.     (Organization)



| | 1. |  | The Board of Directors shall
be organized by all directors.                                                                        
| | -- |  | -----------------------------------------------------------------------------------------------------------------------------------
|
| | 2. |  | Statutory auditors must attend meetings of the Board of
Directors and must give their opinions thereat when it is deemed
necessary.

Article 4.     (Ordinary Meetings and Extraordinary Meetings)



| | 1. |  | Meetings of the Board of Directors shall consist of
ordinary meetings and extraordinary meetings.             
| | -- |  | --------------------------------------------------------------------------------------------------------------
|
| | 2. |  | Ordinary meetings shall be held once a month, and
extraordinary meetings shall be convened whenever necessary.

CHAPTER 2.     CONVOCATION

Article 5.     (Convocation)



| | 1. |  | A meeting of the Board of Directors shall be convened by
the Director/President. In the event the Director/President is
prevented from so doing, another director shall convene the meeting
in the order previously determined by a resolution of the Board of
Directors.
| | -- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
| | 2. |  | Any director or statutory auditor may request the person
entitled to convene a meeting of the Board of Directors to convene
such meeting by giving him a document outlining therein the
subjects and reasons for the meeting.                                            
|
| | 3. |  | In the event that notifications of convening a meeting
within a period of two weeks are not dispatched within five days
after the request for the meeting referred to in the preceding
paragraph was made, the director                                                  





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| |  |  | or the statutory auditor who made such request may
convene the meeting.
| |  |  | -----------------------------------------------------------------------

Article 6.     (Procedure of convening)



| | 1. |  | A notice of convening a meeting of the Board of Directors
shall be dispatched to each director and statutory auditor at least
three days prior to the date of the meeting; provided, however,
that the notice period may be shortened in the case of emergency.
| | -- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
| | 2. |  | With the unanimous consent of all directors and all
statutory auditors, a meeting of the Board of Directors may be held
without the procedure for convening a meeting.                                                                                         

CHAPTER 3.     PROCEEDINGS

Article 7.     (Chairman)

At meetings of the Board of Directors, the Director/President of the
Company shall act as chairman. In the event that the Director/President is
prevented from so doing, another director shall act as chairman in the order
previously determined by a resolution of the Board of Directors.

Article 8.     (Resolution)



| | 1. |  | A resolution by the Board of Directors shall be made by a
majority vote of the directors present at the meeting of the Board
of Directors at which a majority of the directors shall be present.                                                                                                           
| | -- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
| | 2. |  | Any director who has any special interest with respect to
the resolution of the Board of Directors in the preceding Paragraph
may not exercise his voting rights (in the matter). In this case,
such director shall not be counted in the number of directors
present set forth in the preceding Paragraph.

Article 9.     (Matters Requiring Resolution)

The matters as enumerated below shall require approval of the Board of
Directors:



| | 1) |  | Matters relating to business plans;                                                
| | -- |  | -----------------------------------------------------------------------------------
|
| |    |  | -1- Decisions and changes of medium/long term plans and short term plans;          
|
| |    |  | -2- Assignments and acquisitions of business;                                      
|
| |    |  | -3- Establishments, mergers or dissolutions of subsidiaries or affiliate companies;
|
| |    |  | -4- Important capital/business cooperations or cancellations thereof;              
|
| |    |  | -5- Decisions of plans of advances to new business;                                

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| | 2) |  | Matters relating to shareholders meetings;                                                                                                                                          
| | -- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
| |    |  | -1- Convocation of shareholders meetings and decisions
of items on the agenda of shareholders meetings;                                                                            
|
| |    |  | -2- Approvals of balance sheets, profit and loss
statements, business reports, proposals for appropriation of
earned surplus or disposition of losses and attached schedules
thereto;
|
| |    |  | -3- Decisions on matters authorized by resolutions of
shareholders meetings;                                                                                                        
|
| | 3) |  | Matters relating to directors, etc. ;                                                                                                                                                
|
| |    |  | -1- Elections and dismissals of Representative Directors
and decisions of joint representatives;                                                                                     
|
| |    |  | -2- Approvals of competing business transactions by directors;                                                                                                                       
|
| |    |  | -3- Approvals of transactions between directors and the Company;                                                                                                                     
|
| |    |  | -4- Appointments and dismissals of directors with specific titles;                                                                                                                   
|
| |    |  | -5- Determinations of orders among the directors and
orders relating to directors acting on behalf of other
directors;                                                              
|
| |    |  | -6- Amendments to the Regulations of the Board of
Directors;                                                                                                                         
|
| |    |  | -7- Other matters which are deemed necessary regarding
directors and statutory auditors;                                                                                             
|
| | 4) |  | Matters relating to shares;                                                                                                                                                          
|
| |    |  | -1- Issuances of new shares;                                                                                                                                                         
|
| |    |  | -2- Capitalizations of legal reserves and issuances of
new shares incidental to such capitalizations;                                                                                
|
| |    |  | -3- Stock split and amendment to the Articles of
Incorporation according to such stock split;                                                                                        
|
| |    |  | -4- Issuances of bonds, stock acquisition rights and
bonds with stock acquisition rights;                                                                                            
|
| |    |  | -5- Acquisitions, cancellations and dispositions of own shares of the Company;                                                                                                       
|
| |    |  | -6- Amendments to the Share Handling Regulations;                                                                                                                                    
|
| | 5) |  | Matters relating to personnel and organizations;                                                                                                                                     
|
| |    |  | -1- Appointments and dismissals of important employees;                                                                                                                              
|
| |    |  | -2- Establishments, changes and abolitions of branch
offices and other important organizations;                                                                                      
|
| |    |  | -3- Amendments to the Work Rules;                                                                                                                                                    
|
| |    |  | -4- Amendments to the Salary Regulations;                                                                                                                                            

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| |    |  | -5- Establishments and amendments of regulations relating to
organizations, divisions of business and authorized powers in
respect of business;
| | -- |  | -----------------------------------------------------------------------------------------------------------------------------------------------
|
| |    |  | -6- Establishments and amendments to regulations in
respect of other matters relating to personnel and
organizations;                          
|
| |    |  | -7- Appointments and dismissals of the following
Executive Officers;                                                                           
|
| |    |  | (a)   CEO (i.e., Chief Executive Officer)                                                                                                      
|
| |    |  | (b)   CFO (i.e., Chief Financial Officer)                                                                                                      
|
| |    |  | (c)   CAO (i.e., Chief Accounting Officer)                                                                                                     
|
| |    |  | (d)   CTO (i.e., Chief Technology Officer)                                                                                                     
|
| |    |  | (e)   Other persons who assist the above mentioned Executive Officers                                                                          
|
| | 6) |  | Matters relating to accounting and finance;                                                                                                    
|
| |    |  | -1- A large amount of borrowings, important contribution,
investment, lease, guaranty, establishment of security, and
exemption of debts;      
|
| |    |  | -2- Establishments and amendments of Accounting Rules;                                                                                         
|
| | 7) |  | Other matters;                                                                                                                                 
|
| |    |  | -1- Establishments and amendments of important regulations; and                                                                                
|
| |    |  | -2- Other matters which are recognized as necessary for operating the business.                                                                

Article 10.     (Matters to be Reported)



| | 1. |  | At meetings of the Board of Directors, Representative
Directors shall report the progress of business execution and other
matters which the Board of Directors deems necessary.                                             
| | -- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|
| | 2. |  | Any director who has performed a competing business
transaction or any business transaction with the Company shall make
a report on any important facts concerning such transaction to the
Board of Directors without delay.

Article 11.     (Presence by persons other than directors/statutory auditors)

The Board of Directors may permit any persons other than
directors/statutory auditors attend a meeting, and listen to their opinions as
necessary.

Article 12.     (Minutes)

The proceedings and the results of all meetings of the Board of Directors
shall be stated or recorded in the Minutes, and shall be signed and sealed or
affixed electronic signature by the directors and the statutory auditors
present at any such meeting, and such minutes shall be reserved.

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CHAPTER 4.     MISCELLANEOUS

Article 13.     (Amendments and Abolition)

These Regulations shall be amended or abolished by resolutions of the
Board of Directors.

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