Document:

Articles of Incorporation

 Exhibit 4.1 
  

 
  
 (TRANSLATION) 
  
 ARTICLES OF INCORPORATION

  
 June 25, 2004 
  
 KYOCERA CORPORATION 

 (TRANSLATION) 
  
 ARTICLES OF INCORPORATION 
 OF

 KYOCERA CORPORATION 
  
 CHAPTER I 
  
 GENERAL PROVISIONS 
  
 Article 1. Trade Name 
  
 The name of the Company shall be “KYOCERA KABUSHIKI KAISHA” (in English “KYOCERA CORPORATION”). 
  
 Article 2. Objects 
  
 The objects of the Company shall be to engage in the following businesses: 
  

			
	 (1)
	 	Manufacture and sale of and research on fine ceramics and various kinds of products utilizing fine ceramics;
		
	 (2)
	 	Manufacture and sale of and research on single crystal materials and various kinds of products utilizing single crystal materials;
		
	 (3)
	 	Manufacture and sale of and research on composite materials;
		
	 (4)
	 	Manufacture and sale of and research on specialty plastics;
		
	 (5)
	 	Manufacture and sale of and research on measurement instruments for electronics;
		
	 (6)
	 	Manufacture and sale of and research on electronic and electric instruments and parts thereof;
		
	 (7)
	 	Manufacture and sale of and research on component parts of automobiles;
		
	 (8)
	 	Manufacture and sale of and research on precious metals, precious stones and semiprecious stones and various kinds of products utilizing precious metals, precious stones and semiprecious
stones;
		
	 (9)
	 	Manufacture and sale of and research on accessories and interior and exterior decorations and ornaments;
		
	 (10)
	 	Wholesales and retail sale of health foods;
		
	 (11)
	 	Manufacture and sale of and research on material and equipment for medical use;
		
	 (12)
	 	Manufacture and sale of and research on equipment utilizing solar energy;
		
	 (13)
	 	Manufacture and sale of and research on optical machinery and instruments and precision machinery and instruments and parts hereof;
		
	 (14)
	 	Manufacture and sale of and research on machinery and equipment for business use and machinery and equipment for industrial use and parts thereof;
		
	 (15)
	 	Manufacture and sale of and research on photosensitive materials for photographic use;
		
	 (16)
	 	Design, control and contract of construction relating to public works, building, electric equipment and piping construction;

  

 - 1 - 

			
	 (17)
	  	Sale, purchase, lease, maintenance and brokerage of real estate;
		
	 (18)
	  	Lease, maintenance and management of facilities relating to sports, recreation, medical care, hotels and restaurants, and the travel agency business;
		
	 (19)
	  	Road freight handling and warehousing;
		
	 (20)
	  	Business relating to non-life insurance agency and life insurance canvassing, and general leasing, factoring and finance business;
		
	 (21)
	  	Sale and purchase of various kinds of plants and technology related thereto;
		
	 (22)
	  	Design and sale of software relating to computers;
		
	 (23)
	  	Disposition through sale and the like and acquisition through purchase and the like of patents and other industrial property rights and know-how appertaining to the preceding items and acting as
intermediary in such transactions;
		
	 (24)
	  	Businesses relating to import and export of any of the foregoing items; and
		
	 (25)
	  	All commercial activities relating or incidental to any of the foregoing.

  
 Article 3. Location of Principal
Office 
  
 The principal office of the Company shall be
located in Kyoto City. 
  
 Article 4. Public Notices 
  
 Public notices by the Company shall appear in The Nihon Keizai Shimbun.

  
 CHAPTER II 
  
 SHARES 
  
 Article 5. Total Number of Shares Authorized to be Issued 
  
 The total number of shares authorized to be issued by the Company shall be
600,000,000. 
  
 Article 6. Repurchase of Treasury Stock 
  
 The Company may, under the provisions of Article 211-3, Paragraph 1(2) of
the Commercial Code, acquire its own stock, pursuant to a resolution of the Board of Directors. 
  
 Article 7. Number of Shares Constituting a Share Unit and Non-Issuance of the Certificates for Shares not Constituting a Full Share Unit 
  
 1. The number of shares constituting a single share unit of the Company shall be 100. 
  
 2. The Company shall not issue any certificate for shares relating to the
number of shares not constituting a single share unit (the “shares not constituting a full share unit”), except for the cases provided for in the Share Handling Regulations of the Company. 
  

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 Article 8. Purchase of Shares to Increase the Number of Shares of Shareholders holding Shares not Constituting a Full
Share Unit 
  
 Shareholders (which shall hereinafter include
beneficial owners) of the Company holding shares not constituting a full share unit may, in accordance with the provisions of the Share Handling Regulations of the Company, require the Company to sell such number of Shares as will, when aggregated
with the relevant shares not constituting a full share unit can, constitute a full share unit. 
  
 Article 9. Record Date 
  
 1. The Company shall deem the shareholders holding voting rights entered or recorded in the Shareholders Register (which shall hereinafter include the Register of Beneficial Owners) as of the end of each fiscal year to be those shareholders
(which shall hereinafter include beneficial owners) who are entitled to exercise their rights at the ordinary general meeting of shareholders held in respect of the relevant fiscal year. 
  
 2. In addition to the preceding paragraph, the Company may, by resolution of the Board of Directors, and having given prior
public notice thereof set a record date an extraordinary basis. 
  
 Article 10.
Transfer Agent 
  
 1. The Company shall have a Transfer Agent
for the shares. 
  
 2. The Transfer Agent and its office for share
handling shall be decided by a resolution of the Board of Directors and public notice thereof shall be given. 
  
 3. The Shareholders Register and the Register of Lost Share Certificate of the Company shall be kept at the Transfer Agent’s share handling office,
and the Company shall not handle, but shall have the Transfer Agent handle, the registration of transfer of shares, the purchase of shares not constituting a full share unit by the Company or from the Company and other businesses relating to the
shares. 
  
 Article 11. Share Handling Regulations 
  
 Denomination of share certificates of the Company, registration of transfer
of shares, purchase of shares not constituting a full share unit by the Company and from the Company and other matters relating to share handling and fees therefor shall be provided for in the Share Handling Regulations of the Company established by
the Board of Directors. 
  
 CHAPTER III 

 
 GENERAL MEETING OF SHAREHOLDERS 
  
 Article 12. Convocation 
  
 1. An ordinary general meeting of shareholders of the Company shall be convened within three months after the last day of
each fiscal year. 
  

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 2. In addition to the preceding paragraph, an extraordinary general meeting of shareholders may be
convened whenever necessary. 
  
 3. A general meeting of
shareholders shall be held in Kyoto City or at the Shiga Factory of the Company located at Gamo-cho, Gamo-gun, Shiga Prefecture. 
  
 Article 13. Person to Convene Meetings 
  
 1. Unless otherwise provided for by the laws and ordinances, a general meeting of shareholders shall be convened by the President in accordance with a
resolution therefor of the Board of Directors. 
  
 2. Should the
President be unable to act, one of the other Directors in the order fixed in advance by the Board of Directors shall act in his place. 
  
 Article 14. Chairman of Meetings 
  
 1. The President shall act as a chairman of a general meeting of shareholders. 
  
 2. Should the President be unable to act, one of the other Directors, in the order fixed in advance by the Board of
Directors, shall act in his place. 
  
 Article 15. Method of Resolutions

  
 1. Unless otherwise provided for by the laws and
ordinances or these Articles of Incorporation, resolutions of a general meeting of shareholders shall be adopted by a majority of the voting rights of the shareholders present at the meeting. 
  
 2. Resolutions of a general meeting of shareholders pursuant to Article 343
of the Commercial Code shall be adopted by two-thirds or more of the voting rights of the shareholders present at the meeting, at which the shareholders holding one-third or more of the voting rights of all shareholders must present. 
  
 Article 16. Exercise of Voting Rights by Proxy 
  
 A shareholder of the Company or his legal representative may exercise his
voting rights at a general meeting of shareholders by proxy who shall be another shareholder of the Company possessing voting rights; provided that such shareholder or proxy shall submit to the Company a document evidencing his proxy right prior to
the opening of each general meeting of shareholders. 
  
 Article 17. Minutes

  
 The substance of the proceedings at a general meeting of
shareholders and the results thereof shall be recorded in the minutes, and the original of such minutes, after the chairman and the Directors present at the meeting have affixed their names and seals thereto, shall be kept for ten years at the
principal office of the Company, and copies thereof shall be kept for five years at the branch offices of the Company. 
  

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 CHAPTER IV 
  
 DIRECTORS AND BOARD OF DIRECTORS 
  
 Article 18. Number of Directors 
  
 The Company shall have not more than forty-five Directors. 
  
 Article 19. Election of Directors 
  
 1. Directors shall be elected at a general meeting of shareholders. 
  
 2. The election as provided in the previous paragraph shall be made by a majority of voting rights of shareholders present
who shall represent one-third or more of the total number of the voting rights relating to the issued shares. 
  
 3. For the election of Directors, no cumulative voting shall be used. 
  
 Article 20. Term of Office of Directors 
  
 1. The term of office of the Directors shall end with the conclusion of the ordinary general meeting of shareholders for the last fiscal year within two
years after assumption of their offices. 
  
 2. The term of office
of the Director elected to increase the number of the Directors or to fill a vacancy shall terminate when the term of office of the other Directors shall terminate. 
  
 Article 21. Election of Executive Directors and Appointment of Counsellors and Advisors 
  
 1. The Board of Directors may appoint, by resolution, an Honorable Chairman
of the Board of Directors, a Chairman of the Board of Directors, a President and Director, several Vice-Chairmen and Directors, Executive Vice-Presidents and Directors, Senior Managing Directors, Managing Directors and Advisors and Directors.

  
 2. The Board of Directors may appoint, by resolution,
Counsellors and Advisors. 
  
 Article 22. Representative Directors

  
 1. The President shall be a Representative Director.

  
 2. In addition to the Representative Director set forth in the
preceding paragraph, the Board of Directors may, by resolution, appoint Representative Directors from among the Directors. 
  
 Article 23. Remuneration and Retirement Allowances of Directors 
  
 Remuneration and retirement allowances of Directors shall be determined at a general meeting of shareholders. 
  
 Article 24. Convocation of Meetings of Board of Directors 
  
 Notice of meetings of the Board of Directors shall be dispatched to each
Director and Corporate Auditor at least three days prior to the date set for such meeting; provided, however, that in the event of emergency such period may be shortened. 
  

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 Article 25. Board of Directors Regulations 
  
 Unless otherwise provided for by the laws and ordinances or these Articles of Incorporation, matters concerning the Board of
Directors shall be provided for in the Board of Directors Regulations established by the Board of Directors. 
  
 CHAPTER V 
  
 CORPORATE AUDITORS AND BOARD OF CORPORATE AUDITORS 
  
 Article 26. Number of Corporate Auditors 
  
 The Company shall have not more than five Corporate Auditors. 
  
 Article 27. Election of Corporate Auditors 
  
 1. Corporate Auditors shall be elected at a general meeting of shareholders. 
  
 2. The election as provided in the previous paragraph shall be made by a majority of voting rights of shareholders present who shall represent one-third
or more of the total number of the voting rights relating to the issued shares. 
  
 Article 28. Term of Office of Corporate Auditors 
  
 1. The term of office of the Corporate Auditors shall end with the conclusion of the ordinary general meeting of shareholders for the last fiscal year within four years after assumption of their offices. 
  
 2. The term of office of the Corporate Auditor elected to fill a vacancy
shall terminate when the term of office of his predecessor would otherwise terminate. 
  
 Article 29. Full-time Corporate Auditor(s) 
  
 The Corporate Auditors shall elect from among themselves (a) full-time Corporate Auditor(s). 
  
 Article 30. Remuneration and Retirement Allowances of Corporate Auditors 
  
 Remuneration and retirement allowances of Corporate Auditors shall be determined at a general meeting of shareholders. 
  
 Article 31. Convocation of Meetings of Board of Corporate Auditors 
  
 Notice of meetings of the Board of Corporate Auditors shall be dispatched to
each Corporate Auditor at least three days prior to the date set for such meeting; provided, however, that in the event of emergency such period may be shortened. 
  
 Article 32. Regulations of Board of Corporate Auditors 
  
 Unless otherwise provided for by the laws and ordinances or these Articles of Incorporation, matters concerning the Board of
Corporate Auditors shall be provided for in the Regulations of the Board of Corporate Auditors established by the Board of Corporate Auditors. 
  

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 CHAPTER VI 
  
 ACCOUNTS 
  
 Article 33. Fiscal Year 
  
 The fiscal year of the Company shall be a period commencing on April 1 in each year and ending on March 31 of the following year and the accounts of each
fiscal year shall be settled on the last day of each fiscal year. 
  
 Article
34. Dividends 
  
 Dividends of the Company shall be paid to
the shareholders or pledgees who are registered or recorded on the Shareholders Register as of the end of March 31 in each year. 
  
 Article 35. Interim Dividends 
  
 The Company may distribute cash, as interim dividends, by the resolution of the Board of Directors to the shareholders or pledgees who are registered or
recorded on the Shareholders Register as of the end of September 30 in each year, pursuant to Article 293-5 of the Commercial Code. 
  
 Article 36. Period of Limitation for Dividends 
  
 If cash dividends and interim dividends are not collected within three years from the date when the payment thereof becomes due, the Company shall be
exempt from its obligation to make such payment. 
  
 CHAPTER
VII 
  
 MISCELLANEOUS 
  
 Article 37. Transfer Agent for Bonds in Foreign Currencies 
  
 The Company may have a Transfer Agent outside Japan for the bonds in foreign
currencies. 
  

 - 7 -Share Handling Regulations

 Exhibit 4.2 
  

 
  
 (TRANSLATION) 
  
 SHARE HANDLING REGULATIONS

  
 Amended August 24, 2004 
  
 KYOCERA CORPORATION 

 SHARE HANDLING REGULATIONS 
 OF 
 KYOCERA CORPORATION 
  
 CHAPTER I 
 GENERAL PROVISIONS 
  
 Article 1. Purpose 
  
 The types of share certificates of the Company, handling of the shares of the Company (including registration of transfer of the shares, purchase of
shares not constituting a full unit and purchase to increase the number of shareholding) and the fees therefor shall be governed by these Regulations based upon Article 11 of the Articles of Incorporation; provided, however, that handling of
beneficial owners shall be governed by the rules provided by the Japan Securities Depositary Center (hereinafter referred to as “JASDEC”) in addition to these Regulations. 
  
 Article 2. Transfer Agent 
  
 The Transfer Agent of the Company, its share handling office and its intermediary share handling offices shall be as follows: 
  

			
	Transfer Agent:	  	 Daiko Clearing Services Corporation
 4-6, Kitahama
2-chome, Chuo-ku, Osaka

		
	Share handling office of the Transfer Agent:	  	 Stock Transfer Department in the Principal Office
of Daiko Clearing Services Corporation
 4-6, Kitahama 2-chome, Chuo-ku, Osaka

		
	 Intermediary share handling offices of the
 Transfer Agent:
	  	 Each branch office of
 Daiko Clearing Services
Corporation

  
 Article 3. Denomination of Share
Certificates 
  
 1. Share certificates to be issued by
the Company shall be in denominations of any number of those shares less than 100 shares, 100 shares, 500 shares, 1,000 shares and 10,000 shares. 
  
 2. Except as provided in Article 21 (Re-issuance due to Loss), Article 21 (Re-issuance due to Stain or Mutilation), Article 22 (Re-issuance due to Full
Capacity of Share Certificate) or Article 26 (Re-issuance due to Nullification of Share Certificate) hereof, shareholders can not require the issuance of the share certificates provided in the preceding subparagraph representing a number of shares
not constituting a full unit as provided in Article 7 of the Articles of Incorporation of the Company (hereinafter referred to as “shares not constituting a full unit”). 
  

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 Article 4. Form of Request, Notification or Application, etc. 
  
 1. The procedures in respect of any request, notification or application to
be made in connection with the business entrusted to the Transfer Agent by the Company shall be taken through the Transfer Agent. 
  
 2. Any request, notification, application or petition under these Regulations shall be in a form prescribed by the Company with the seal mentioned in
Article 14 hereof. 
  
 3. In case any request, notification,
application or petition set forth in the preceding subsection is made by proxy, such proxy shall present a document evidencing his power, and if the consent of an assistant is required, such proxy shall also present a document evidencing such
consent. 
  
 CHAPTER II 
 REGISTRATION OF TRANSFER, ETC. 
  
 Article 5. Registration of Transfer 
  
 1. In case of application for registration of transfer of shares, an application therefor accompanied by the share certificates shall be submitted.

  
 2. In case of application for registration of transfer of
shares acquired by reason other than assignment, the applicant shall submit a document evidencing the transfer in addition to taking the procedure set forth in the preceding subsection. 
  
 Article 6. Registration of Transfer Subject to Special Provisions of the Laws and Ordinances 
  
 In case any special procedure is required by the laws and ordinances for
transfer of shares, a document evidencing the completion of such procedure shall be submitted together with the application therefor and the share certificates. 
  

Article 7. Registration in Register of Beneficial Owners 
  
 Registration or record shall be made in the Register of Beneficial Owners based upon the notice from JASDEC concerning the beneficial owners and the
beneficial ownership card. 
  
 Article 8. Certificate of Beneficial
Ownership 
  
 Each beneficial owner shall, through a
participant, submit the beneficial ownership card to the Company. 
  
 Article 9. Aggregation 
  
 When the
Company recognizes that a shareholder registered or recorded in the Shareholders’ Register and a shareholder registered or recorded in the Register of Beneficial Owners is identical based on the address and the name of such shareholder, the
number of shares held by such shareholder shall be aggregated for the purpose of exercising shareholders’ rights. 
  

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 CHAPTER III 
 REGISTRATION OF PLEDGE AND INDICATION OF TRUST 
  
 Article 10. Registration or Cancellation of Pledge 
  
 In case of application for registration, alteration or cancellation of a pledge on shares, an application therefor shall be submitted under the joint
signatures of the pledgor and the pledgee together with the share certificates. 
  
 Article 11. Indication or Cancellation of Trust Property 
  
 In case of application for indication or cancellation of trust property on share certificates, the trustor or the trustee shall submit an application therefor together with the share certificates. 
  
 CHAPTER IV 
 NON-POSSESSION OF SHARE CERTIFICATES 
  
 Article 12. Application for Non-Possession of Share Certificates 
  

In case of application for non-possession of share certificates, an application therefor shall be submitted together with the share certificates;
provided that if the share certificates have not been issued it is not necessary to submit the share certificates. 
  
 Article 13. Application for Delivery of Non-Possession Share Certificates 
  
 In case the shareholder having made application for non-possession of share certificates requests issuance or return of the
share certificates, he shall submit an application to that effect; provided, however, that in case the share certificates are treated as not having been issued, he may not request issuance of share certificates representing shares not constituting a
full unit. 
  
 CHAPTER V 
 VARIOUS NOTIFICATIONS 
  
 Article 14. Notification of Names, Addresses and Seal Impressions of Shareholders, etc. 
  
 1. Shareholders, beneficial owners and registered pledgees or their legal
representatives shall make notification of their names, addresses and seal impressions; provided, however, that foreigners who customarily use signatures may substitute their specimen signatures for their seal impressions. 
  
 2. The same procedure shall apply when there is any change in the items
notified under the preceding paragraph. 
  

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 Article 15. Notification of Addresses Where Non-Resident Shareholders, etc. Will Receive Notices

  
 1. In addition to the requirements provided in the
preceding Article, shareholders, beneficial owners and registered pledgees or their legal representatives residing abroad shall appoint their resident standing proxies in Japan or designate their addresses in Japan where they will receive notices,
and shall make notification of such matters. 
  
 2. The preceding
Article shall apply mutatis mutandis to resident standing proxies. 
  
 Article 16. Representative of a Corporation 
  
 1. In case a shareholder or a beneficial owner is a juridical person, it shall make notification of its representative. 
  
 2. When it changes its representative, notification thereof shall be submitted together with a certified excerpt from the commercial register. 

 
 Article 17. Representative of Co-owners of Shares 
  
 1. Shareholders or beneficial owners who own shares jointly shall appoint
their representative and make notification thereof. 
  
 2. The
same procedure shall apply in case of a change of such representative. 
  
 Article 18. Change in Shareholders’ Register, Register of Beneficial Owners and Share Certificates 
  
 When a person desires to change the description in the Shareholders’ Register, the Register of Beneficial Owners or on share certificates for any of
the following reasons, a notification thereof shall be submitted together with the share certificates and a document evidencing the reason therefor; provided, however, that it is not necessary to submit the share certificates if such share
certificates have not been issued and in case of change in the description in the Register of Beneficial Owners. 
  

	 	(1)	Change of surname or given name; 

  

	 	(2)	Appointment, change or discharge of legal representative such as a person with parental authority or a guardian; 

  

	 	(3)	Change of trade name or name of juridical person; and 

  

	 	(4)	Change of organization of juridical person. 

  
 Article 19. Exception in respect of Various Notifications by Beneficial Owner 
  
 In case of notification by a beneficial owner set forth in this Chapter, such notification shall be made through a
participant; provided, however, that in case of a change in the seal impression of the beneficial owner, notification thereof need not be made through a participant. 
  

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 CHAPTER VI 
 RE-ISSUANCE OF SHARE CERTIFICATES 
  
 Article 20. Re-issuance due to Division or Consolidation 
  
 1. In case of application for issuance of new share certificates by reason of division or consolidation of share certificates, an application therefor shall be submitted together with the share certificates.

  
 2. An application for issuance of share certificates
representing shares not constituting a full unit by reason of division or consolidation of share certificates may not be made. 
  
 Article 21. Re-issuance due to Stain or Mutilation 
  
 In case of application for issuance of new share certificates by reason of stain or mutilation of share certificates, an application therefor shall be
submitted together with the share certificates; provided, however, that if it is difficult to ascertain the genuineness of the share certificates, the provisions in Chapter VII shall apply. 
  
 Article 22. Re-issuance due to Full Capacity of Share Certificate 

 
 In case the shareholders column on a share certificate becomes full, the
Company shall recall such share certificate and issue a new share certificate in its place. 
  
 Article 23. Automatic Consolidation of Share Certificates Representing Shares Not Constituting a Full Unit 
  
 In case the total number of shares represented by share certificates representing shares not constituting a full unit submitted for registration of
transfer of shares constitutes a full unit, such share certificates shall be consolidated into a share certificate representing shares constituting a full unit unless otherwise specifically requested by the applicant for registration of transfer of
shares. 
  
 CHAPTER VII 
 RE-ISSUANCE OF SHARE CERTIFICATES DUE TO LOSS 
  
 Article 24. Petition for the Registration or De-registration of Lost Share Certificates 
  
 1. Any person applying for registration of a lost share certificate shall submit a written petition therefor accompanied by
documents proving receipt of such share certificate, documents proving the loss of such share certificate and documents verifying the identity of such applicant; provided, however, that if the name of the applicant was printed on the lost share
certificate or if the applicant is a registered pledgee, only documents proving the loss of such share certificate will be required. 
  

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 2. Any person recorded in the register of lost share certificates who applies for de-registration
therefrom shall submit a petition therefor. 
  
 Article 25.
Submission of Objection to Registration of Lost Share Certificate 
  
 Any person raising objection to the registration of a lost share certificate shall submit a written petition therefor accompanied by documents verifying the identity of such person, provided however, that if such
person is a shareholder or registered pledgee, such documents verifying identity will not be required. 
  
 Article 26. Re-issuance due to Nullification of Share Certificate 
  
 Any person applying for re-issuance of a share certificate due to nullification shall submit a written request therefor. 
  
 Article 27. Application of Provisions relating to the Various Notification

  
 If any the person recorded in the register of lost
share certificates, but who is not a shareholder or registered pledgee, requires any change in the matters registered or recorded therein, the provisions of Article 14 through Article 18 shall apply mutatis mutandis. 
  
 CHAPTER VIII 
 PURCHASE OF SHARES NOT CONSTITUTING A FULL UNIT 
  
 Article 28. Method of Request for Purchase 
  
 1. In case of request for purchase of shares not constituting a full unit, a request therefor shall be submitted to a share handling office of the
Transfer Agent intermediary share handling office of the Transfer Agent as mentioned in Article 2 together with the share certificates; provided, however, that share certificates need not be submitted for shares not constituting a full unit for
which no share certificates have been issued. 
  
 2. In case the
request mentioned in the preceding paragraph is made by a beneficial owner, such request shall be made through a participant and JASDEC. 
  
 Article 29. Determination of Purchase Price 
  
 1. The purchase price per share of shares for which application for purchase is made shall be the closing price of the shares of the Company on the market
opened by the Tokyo Stock Exchange on the day on which the documents of application for purchase set forth in the preceding Article arrive at a share handling office of the Transfer Agent or intermediary share handling office of the Transfer Agent;
provided, however, that in case no transaction in the shares of the Company takes place on said Stock Exchange on such day, the price shall be the closing price of the shares of the Company on the Osaka Securities Exchange on the same day.

  
 2. In case no transaction in the shares of the Company takes
place on any Stock Exchange set forth in the preceding subsection or in case such day is not a business day for said Stock Exchanges, the price per share of the Company shall be the price of the shares of the Company effected at the first
transaction in the shares of the Company taking place on the market opened by the Tokyo Stock Exchange on the next day, and if no transaction in the shares of the Company takes place on the said Stock Exchange on such next day, the price shall be
the price effected at the first transaction in the shares of the Company taking place on the Osaka Securities Exchange on the same day. 
  

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 3. In case no transaction in the shares of the Company takes place on any Stock Exchange as set forth in
the preceding subsection, the same method shall apply on the next day and so on in like manner thereafter. 
  
 Article 30. Payment of Purchase Price 
  
 1. The purchase price payable upon application for purchase of shares not constituting a full unit shall be the purchase price per share determined pursuant to the preceding Article multiplied by the number of shares
for which application for purchase is made. The purchase price shall be payable at the place where the application for purchase is received on a day specified by the Company within six business days following the day when the purchase price is
determined. 
  
 2. The person making application for purchase may
request that the purchase price be paid to him to an account at a bank designated by him or by cash by means of mail transfer. 
  
 3. The fees set forth in subsection 2 of Article 41 shall be deducted from the purchase price as set forth in the preceding subsection at the time of
payment thereof. 
  
 Article 31. Transfer of Shares Purchased

  
 The shares not constituting a full unit for which an
application for purchase is made shall be transferred to the Company on the day on which the payment or the procedure for payment of the purchase price is consummated pursuant to the preceding Article. 
  
 CHAPTER IX 
 PURCHASE TO INCREASE NUMBER OF SHARES 
 NOT CONSTITUTING A FULL UNIT 
  
 Article 32. Method
of Requesting Purchase to Increase Number of Shares 
  
 1. Any shareholder or beneficial owner of shares of the Company, who holds shares not constituting a full unit and who requests to purchase shares in order to increase the number of shares (hereinafter referred to as a “Request for
Purchase”) pursuant to Article 8 of the Articles of Incorporation of the Company, shall submit a written request together with share certificates and the approximate amount of the purchase price, as provided for in the immediately following
Article, to the share handling office of the Transfer Agent or an intermediary share handling office of the Transfer Agent as provided for in Article 2 hereof; provided, however, that if no share certificate representing the shares not constituting
a full unit has been issued, submission of a share certificate shall not be required. 
  

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 2. When a beneficial owner makes a request as provided in the immediately preceding subsection, such
request shall be submitted through JASDEC or a participant therein. 
  
 Article 33. Approximate Amount of Purchase Price 
  
 1. The approximate amount of the purchase price shall be the closing price per share of the Company on the market opened by the Tokyo Stock Exchange on the day on which the written request provided for in the
preceding Article arrives at the share handling office of the Transfer Agent or an intermediary share handling office of the Transfer Agent (in the event that no transaction in the shares of the Company takes place on such stock exchange on such
day, the price shall be the most recent closing price per share of the Company on such stock exchange) multiplied by the number of shares requested to be purchased and multiplied, further, by 1.3. Any amount less than 1,000 yen resulting from such
calculation shall be rounded upward to the nearest 1,000 yen. In the event that a beneficial owner of shares of the Company makes a Request for Purchase, the approximate amount of the purchase price shall be determined by JASDEC. 
  
 2. The Company shall not accept any Request for Purchase if the approximate
amount of the purchase price submitted pursuant to the immediately preceding Article is short of the amount provided in the immediately preceding subsection. 
  
 Article 34. Request for Purchase Shares the Number of which Exceeds the Number of Shares of the Company Held by the Company 
  
 When the aggregate number of shares requested to be purchased on a
particular day exceeds the number of shares held by the Company for sale, all Requests for Purchase submitted on such day shall be ineffective. 
  
 Article 35. Effective Date of Request for Purchase 
  
 The effective date of a Request for Purchase shall be the day on which the written request provided for in Article 32 and the approximate amount of the
purchase price provided for in Article 33 arrive at the share handling office of the Transfer Agent or an intermediary share handling office of the Transfer Agent. 
  
 Article 36. Suspension of Acceptance of Requests for Purchase 
  
 1. The Company will suspend acceptance of Requests for Purchase for one month in each of March and September every year.

  
 2. Notwithstanding the immediately preceding subsection, if
the Company deems it necessary, the Company may set a period during which the acceptance of Requests for Purchase shall be suspended. 
  
 Article 37. Decision as to Purchase Price 
  
 1. The purchase price per share of shares for which a Request for Purchase is made shall be the closing price of the shares of the Company on the market
opened by the Tokyo Stock Exchange on the day on which the Request for Purchase arrives at the share handling office of the Transfer Agent or an intermediary share handling office of the Transfer Agent; provided, however, that in the event that no
transaction in the shares of the Company takes place on such stock exchange on such day, the price shall be the closing price of the shares of the Company on the market opened by the Osaka Securities Exchange on the same day. 
  

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 2. In the event that no transaction in the shares of the Company takes place on any stock exchange as
provided for in the preceding subsection, or in the event that such day is not a business day for said stock exchanges, the purchase price per share of the Company shall be the price of the shares of the Company in the first transaction in such
shares taking place on the market opened by the Tokyo Stock Exchange on the following day, and if no transaction in such shares takes place on such stock exchange on such following day, the purchase price shall be the price in the first transaction
in such shares taking place on the market opened by the Osaka Securities Exchange on the same day. 
  
 3. In case no transaction in the shares of the Company takes place on any stock exchange as set forth in the preceding subsection, the same method shall
apply on the following day and so on in like manner thereafter. 
  
 4. The total purchase price shall be the price per share obtainable pursuant to the provisions in the three preceding subsections multiplied by the number of the shares requested to be purchased. 
  
 5. When the approximate amount of the purchase price as provided for in
Article 33 is less than total of the purchase price as provided in the immediately preceding subsection and the amount of fees as provided in subsection 2 of Article 41 (hereinafter referred to the “Purchase Price”), the deficiency shall
be charged to the person submitting the Request for Purchase. In such event, if such deficiency is not paid within five business days from the date immediately following the date when the deficiency is charged, the Request for Purchase shall be
nullified. 
  
 Article 38. Receipt of Purchase Price 
  
 1. The Company shall, within six business days after the date when the
Purchase Price has been decided, or upon payment of any deficit as provided for in subsection 5 of the immediately preceding Article, receive the Purchase Price out of the approximate amount of the purchase price; provided, however, when such
Purchase Price reflects rights, including, without limitation, dividends, stock splits or stock acquisition rights, the receipt of the Purchase Price shall take place prior to the record date or allocation date relating to such rights. 

 
 2. The balance after deducting the Purchase Price from the approximate
amount of the purchase price shall be returned to the shareholder requesting the purchase by transfer to the bank account specified by such shareholder or by payment in cash through postal saving account. 
  
 Article 39. Transfer of Shares Purchased 
  
 The shares purchased shall be transferred to the shareholder or beneficial
owner on the date on which the receipt of the Purchase Price is completed. 
  
 Article 40. Delivery of Share Certificate 
  
 When, as a result of a Request for Purchase, shares come to constitute a full unit, a share certificate representing such shares shall be delivered to the shareholder requesting the purchase without delay; except in the case of a Request
for Purchase by a beneficial owner. 
  

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 CHAPTER X 
 FEES 
  
 Article 41. Fees

  
 1. The fees for application of registration of lost
share certificates pursuant to Article 24 (Petition for the Registration or De-registration of Lost Share Certificates) shall be as follows: 
  

				
	 Per application:
	  	¥	9,000
	 Per share certificate in addition to the first certificate covered by the application:
	  	¥	600

  
 2. The fees for the
purchase of shares pursuant to Article 28 (Method of Application for Purchase) hereof and fees for the purchase of shares to increase the number of shareholding pursuant to Article 32 (Method of Requesting Purchase to cIncrease Number of Shares)
shall be the brokerage commission for the purchase and sale of a full unit of shares of the Company calculated pursuant to the following method which is proportionate to the number of shares not constituting a full unit purchased by the Company from
the applying shareholder or purchased by the applying shareholder from the Company. 
  
 (Method) From the total amount obtained by multiplying the purchase price for one share determined in Article 29 or Purchase Price per share as determined in Article 37 hereof by the number of shares constituting full units: 
  

				
	 Amount of ¥1,000,000 or less
	  	1.150	%
	 Amount exceeding ¥1,000,000 up to ¥5,000,000
	  	0.900	%
	 Amount exceeding ¥5,000,000 up to ¥10,000,000 (amounts less than ¥1.00 are rounded downward)
	  	0.700	%

  
 Provided, however, that in case the
amount calculated for one unit of shares is less than ¥2,500, the fee shall be ¥2,500. 
  
 SUPPLEMENTARY PROVISIONS 
  
 1.
These Regulations may be amended by a resolution of the Board of Directors. 
  

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