FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of April, 2006
Commission File Number 2 - 68279
RICOH COMPANY, LTD.
-----------------------------------------------
(Translation of Registrant's name into English)
13-1, Ginza 8-Chome, Chuo-ku, Tokyo 104-8222, Japan
---------------------------------------------------
(Address of Principal Executive Offices)
(Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.)
Form 20-F X Form 40-F __
(Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): __ )
(Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): __ )
(Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act
of 1934.)
Yes __ No X
(If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82-__ )
--------------------------------------------------------------------------------
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Ricoh Company, Ltd.
------------------------------
(Registrant)
By: /S/ Etsuo Kobayashi
------------------------------
Etsuo Kobayashi
Corporate Senior Vice President
General Manager of
Personnel Division
April 26, 2006
--------------------------------------------------------------------------------
April 26, 2006
Masamitsu Sakurai,
Chairman of the Board and Representative Director,
President and Chief Executive Officer,
Ricoh Company, Ltd.
(Code Number 7752 TSE, OSE and NSE (1st Section); FSE and SSE)
Please make inquires to Masakuni Kutsuwada,
General Manager, Public Relations Department
(Tel: +81-3-6278-5228)
NOTICE REGARDING PARTIAL AMENDMENT TO THE ARTICLES OF INCORPORATION
Ricoh Company, Ltd. hereby notify that, at the meeting of the Board of
Directors held on April 26, 2006, it was resolved that partial amendment to the
Articles of Incorporation will be placed on the agenda at the 106/th/ ordinary
general meeting of shareholders, which is scheduled to be held on June 28, 2006.
1. Reasons for Amending the Articles of Incorporation
The "Corporation Law" (2005 Law No. 86) will come into force on May 1, 2006,
and accordingly we shall make the following amendments with respect to the
matters that will be allowed under the provisions of the Articles of
Incorporation.
(1)Article 10 of the Proposed Amendments (Rights Concerning Less-Than-One-Unit
Shares):
This Article sets forth the rights which the shareholders may exercise with
respect to shares of less than one unit.
(2)Article 18 of the Proposed Amendments (Disclosure and Deemed Provision of
Reference Materials for General Meeting of Shareholders via the Internet):
This Article enables the Company, in calling the general meeting of
shareholders, to disclose the reference materials for the general meeting of
shareholders and other documents by using the Internet, to make it more
convenient for our shareholders to obtain information.
(3)Article 28 of the Proposed Amendments (Omission of Resolution of Board of
Directors):
This Article enables so-called written resolution of the Board of Directors
provided for in
- 1 -
Article 370 of the "Corporation Law" to increase the responsiveness and
efficiency of the management of the Board of Directors.
(4)Articles 30 (Exemption of Liability of Outside Directors) and 39 (Exemption
of Liability of Outside Statutory Auditors) of the Proposed Amendments:
These Articles are enable the Company to enter into an agreement regarding
limitation of liability with outside directors and outside statutory
auditors so that the Company can continue to invite highly independent and
skilled people who are suitable for the position of an outside director and
outside statutory auditor.
(5)Articles 4 (Organizations) and 7 (Issue of Share Certificates) of the
Proposed Amendments are newly established with respect to the matters for
which new provisions must be made in the Articles of Incorporation in
accordance with the enforcement of the Corporation Law.
(6)Necessary amendments are made to use the clauses quoted from the Corporation
Law and the terms amended under the Corporation Law, in addition to partial
amendments of expression, correction of phrases and adjusting article
numbers with addition and subtraction of articles.
2. Details of Amendments to the Articles of Incorporation
The details of amendments are as specified in the attachment.
3. Schedule
Date of the general meeting of shareholders
for making amendments to the Articles of Incorporation: June 28, 2006 (Wed.)
Date on which the amendments
to the Articles of Incorporation become effective: June 28, 2006 (Wed.)
- 2 -
Details of proposed amendment of the Articles of Incorporation
(Underlined portions indicate the changes.)
================================= ==================================
Current Articles of Incorporation Proposed provisions after
amendment
================================= ==================================
CHAPTER I. GENERAL PROVISIONS CHAPTER I. GENERAL PROVISIONS
(Trade Name) (Trade Name)
Article 1. The name of the Article 1. The name of the
Company is Kabushiki Kaisha Ricoh Company is Kabushiki Kaisha Ricoh
and is written RICOH COMPANY, and is expressed RICOH COMPANY,
LTD. in English. LTD. in English.
(Location of Head Office) (Unchanged)
-------------------------
Article 2. The head office of
the Company is to be located in
Ohta-ku, Tokyo.
(Objectives) (Unchanged)
------------
Article 3. The objectives of
the Company are to engage in the
following businesses:
1. - 9. (Omitted)
(Newly established) (Organizations)
---------------
Article 4. In addition to the
--------------------------------
general meeting of shareholders
-------------------------------
and directors, the Company shall
--------------------------------
establish the following
-----------------------
organizations:
--------------
i) Board of Directors;
----------------------
ii)Statutory Auditors;
----------------------
iii)Board of Statutory
----------------------
Auditors; and
-------------
iv)Accounting Auditors.
-----------------------
(Public Notices) (Method of Public Notices)
---------
Article 4. Public notices of Article 5. Public notices of
the Company shall appear in the the Company shall appear in the
Nihon Keizai Shimbun published in Nihon Keizai Shimbun.
------------
Tokyo.
-----
CHAPTER II. SHARES CHAPTER II. SHARES
(Total Number of Shares to be (Total Number of Issuable shares)
------------ ---------------
Issued and Types of Share
-------------------------
Certificates)
------------
Article 5. The total number of Article 6. The total number of
-- --
shares to be issued by the issuable shares by the Company is
------------------- ---------------
Company is one billion and five one billion and five hundred
hundred million (1,500,000,000) million (1,500,000,000) shares.
shares. If any shares are
-----------------
cancelled, the number of shares (Deleted)
-------------------------------
so cancelled shall be deducted
------------------------------
from the total number of shares
-------------------------------
to be issued.
-------------
- 1 -
================================== ==================================
Current Articles of Incorporation Proposed provisions after
amendment
================================== ==================================
2. The types of share (Deleted)
---------------------
certificates to be issued by the
--------------------------------
Company shall be subject to the
-------------------------------
Share Handling Regulations
--------------------------
established by the Board of
---------------------------
Directors.
----------
(Newly established) (Issuance of Share Certificates)
--------------------------------
Article 7. The Company shall
----------------------------
issue share certificates for the
--------------------------------
shares.
-------
(Purchase of Treasury Stocks) (Purchase of Treasury Stocks)
Article 6. The Company may Article 8. The Company may
-- --
purchase the shares of its own acquire the shares of its own
stocks by a resolution of the stocks by a resolution of the
Board of Directors pursuant to Board of Directors pursuant to
Paragraph 1, Item_2 of Article Paragraph 2, Article 165 of the
------------------------------ -------------------------------
211-3 of the Commercial Code. Corporation Law.
----------------------------- ----------------
(Number of Shares Constituting (Number of Shares Constituting
One Unit and Non-Issuance of One Unit and Non-Issuance of
Certificates for Certificates for
Less-Than-One-Unit Shares) Less-Than-One-Unit Shares)
Article 7. The number of Article 9.
-- --
shares constituting one unit of
shares of the Company shall be 1. The number of shares
one thousand (1,000) shares. --
constituting one unit of shares
of the Company shall be one
thousand (1,000) shares. (Small
change in Japanese)
2. The Company shall not issue 2. Notwithstanding the
-------------------
any certificates for shares provisions of Article 7, the
---------- ------------------------
constituting less than one unit Company shall not issue any
-------------------------------
of shares (hereinafter referred certificates for
-------------------------------
to as "less-than-one-unit less-than-one-unit shares, unless
------------------------- --------------------------
shares"), unless otherwise otherwise provided for in the
---------
provided for in the Share Share Handling Regulations.
Handling Regulations.
(Newly established) (Rights Concerning
------------------
Less-Than-One-Unit Shares)
--------------------------
Article 10. A shareholder
--------------------------
(including the beneficial
-------------------------
shareholder; the same applies
-----------------------------
hereinafter) of the Company shall
---------------------------------
not exercise any rights other
-----------------------------
than those described below with
--------------------------------
respect to the less-than-one-unit
---------------------------------
shares held by it.
------------------
i) Right described in each
--------------------------
Item of Paragraph 2,
--------------------
Article 189 of the
------------------
Corporation Law.
----------------
ii)Right to make a request
--------------------------
under the provision of
----------------------
Paragraph 1, Article 166
------------------------
of the Corporation Law.
-----------------------
iii)Right to receive
--------------------
allocation of offered
---------------------
shares and allocation of
------------------------
offered stock purchase
----------------------
warrants in accordance
----------------------
with the number of shares
-------------------------
held by the shareholder.
------------------------
iv)Right to make a request
--------------------------
provided for in the
-------------------
following Article.
------------------
- 2 -
================================== ==================================
Current Articles of Incorporation Proposed provisions after
amendment
================================== ==================================
(Sale of Shares Constituting (Sale of Shares Constituting
Less-Than-One-Unit Shares to Less-Than-One-Unit Shares to
Constitute One Unit) Constitute One Unit)
Article 8. A shareholder Article 11. A shareholder of
-- ---
(including the beneficial the Company may request that the
------------------------- Company sell such number of
shareholder; the same applies shares as may, together with the
----------------------------- ---
hereinafter) who holds number of less-than-one-unit
---------------------- shares held by the shareholder,
less-than-one-unit shares of the ------------------------
------------------------- constitute one unit of shares, in
Company, may request that the accordance with the Share
Company sell such number of Handling Regulations.
shares as may, together with such
number of less-than-one-unit
shares, constitute one unit of
shares, in accordance with the
Share Handling Regulations.
(Transfer Agent) (Custodian of Register of
--------------- -------------------------
Shareholders)
-------------
Article 9. The Company shall Article 12.
-- ---
have a transfer agent for its
------------------------
shares. 1. The Company shall have a
------- --
custodian of the register of
----------------------------
shareholders.
-------------
2. The transfer agent and its 2. The custodian of the
------------------ --------------------
business office shall be register of shareholders and its
determined by resolution of the ------------------------
Board of Directors and public business office shall be
notice shall be given thereof. determined by resolution of the
Board of Directors and public
notice shall be given thereof.
3. The register of 3. The register of
shareholders (including the shareholders (including the
register of beneficial register of beneficial
shareholders; the same applies shareholders; the same applies
hereinafter) and the register of hereinafter), the register of
the lost share certificates of ---------------
the Company shall be kept at the stock purchase warrants and the
----------- -----------------------
business office of the transfer register of the lost share
------------------------------- certificates of the Company shall
agent. All business pertaining to be prepared and kept, and all
--------------------------------- --------------------------
the shares of the Company, such other business pertaining to the
------------------------------- --------------------------------
as the registration of a transfer register of shareholders, the
--------------------------------- -----------------------------
of shares and the purchase and register of stock purchase
------------------------------ --------------------------
sale of less-than-one-unit warrants and the register of the
-------------------------- --------------------------------
shares, shall be handled by the lost share certificates shall be
------------------------------- --------------------------------
transfer agent and not by the handled by the custodian of the
-------------- -------------------------------
Company. register of shareholders and not
------------------------
by the Company.
(Share Handling Regulations) (Share Handling Regulations)
Article 10. The registration Article 13. The business and
-------------------- --------------------
of a transfer of shares, the the service changes pertaining to
---------------------------- -------------------
registration of the lost share the shares of the Company shall
------------------------------ be subject to laws, ordinances or
certificates, the purchase and -------------------
------------------------------ these Articles of Incorporation
sale of less-than-one-unit shares -------------------------------
--------------------------------- and the Share Handling
by the Company, and other ---
------------------------- Regulations established by the
business pertaining to the shares Board of Directors.
--------
of the Company shall be subject
to the Share Handling Regulations
established by the Board of
Directors.
- 3 -
================================= ==================================
Current Articles of Incorporation Proposed provisions after
amendment
================================== ==================================
(Record Date) (Deleted)
-------------
Article 11.
-----------
1. The Company shall deem the
-----------------------------
shareholders (including the
---------------------------
beneficial shareholders; the same
---------------------------------
applies hereinafter) appearing or
---------------------------------
recorded in the final register of
---------------------------------
shareholders as of the accounts
-------------------------------
closing date for each business
------------------------------
year to be the shareholders
---------------------------
entitled to exercise the
------------------------
shareholders' rights at the
---------------------------
ordinary general meeting of
---------------------------
shareholders concerning such
----------------------------
business year.
--------------
2. In addition to the
---------------------
preceding paragraph, whenever
-----------------------------
necessary, upon giving prior
----------------------------
public notice in accordance with
--------------------------------
the resolution of the Board of
------------------------------
Directors, the Company may deem
-------------------------------
the shareholders or registered
------------------------------
pledgees appearing or recorded in
---------------------------------
the register of shareholders as
-------------------------------
of a certain fixed date to be the
---------------------------------
shareholders or registered
--------------------------
pledgees entitled to exercise
-----------------------------
their rights.
-------------
CHAPTER III. GENERAL MEETING OF CHAPTER III. GENERAL MEETING OF
SHAREHOLDERS SHAREHOLDERS
(Calling of Meeting) (Calling of Meeting)
Article 12. The ordinary Article 14.
--- ---
general meeting of shareholders
shall be called in June each year (Unchanged)
and an extraordinary general
meeting of shareholders shall be
called as the necessity arises.
2. A general meeting of (Deleted)
-----------------------
shareholders shall be called by a
---------------------------------
Representative Director
-----------------------
previously appointed by the
---------------------------
resolution of the Board of
--------------------------
Directors.
----------
3. In the event that the (Deleted)
------------------------
Representative Director as
--------------------------
appointed above is unable to act,
---------------------------------
one of the other directors shall
--------------------------------
call such meeting in the order
------------------------------
determined in advance by
------------------------
resolution of the Board of
--------------------------
Directors.
----------
(Newly established) (Record Date of General Meeting
-------------------------------
of Shareholders)
----------------
Article 15. The record date of
------------------------------
voting rights for the Company's
-------------------------------
general meeting of shareholders
-------------------------------
shall be March 31 every year.
-----------------------------
- 4 -
================================== ==================================
Current Articles of Incorporation Proposed provisions after
amendment
================================== ==================================
(Exercise of Voting Rights by (Exercise of Voting Rights by
Proxy) Proxy)
Article 13. A shareholder may Article 16.
--- ---
exercise his voting rights by
proxy who shall be another 1. A shareholder may exercise
shareholder of the Company --
entitled to vote. his voting rights by proxy who
----------------- shall be another shareholder of
the Company that has voting
---------------
rights.
-------
2. Such shareholder or proxy 2. Such shareholder or proxy
shall submit a power of attorney shall submit a document
to the Company. ----------
certifying the power of attorney
--------------
to the Company for each general
----------------
meeting of shareholders.
------------------------
(Chairman) (Person with the Right to Call
------------------------------
the Meeting and Chairman)
-------------------------
Article 14. A Representative Article 17.
---------------------------- -----------
Director previously appointed by
--------------------------------
resolution of the Board of 1. A meeting of the
-------------------------- --------------------
Directors shall preside over a shareholders shall be called and
------------------------------- --------------------------------
general meeting of shareholders. presided over by a Representative
-------------------------------- ---------------------------------
In the event that the Director previously appointed by
--------------------- --------------------------------
Representative Director is unable the Board of Directors.
--------------------------------- -----------------------
to act, one of the other
------------------------
directors shall act in his place 2. In case the Representative
-------------------------------- -----------------------------
in the order determined in Director is unable to act, one of
-------------------------- ---------------------------------
advance by resolution of the the other directors shall call
---------------------------- ------------------------------
Board of Directors. and preside over the meeting of
------------------- -------------------------------
the shareholders in accordance
------------------------------
with the order determined in
----------------------------
advance by resolution of the
----------------------------
Board of Directors.
-------------------
(Newly established) (Disclosure and Deemed Provision
--------------------------------
of Reference Materials for
--------------------------
General Meeting of Shareholders
-------------------------------
via the Internet)
-----------------
Article 18. In calling the
-----------------------------
general meeting of shareholders,
--------------------------------
the Company may deem that the
-----------------------------
information regarding the matters
---------------------------------
which should be described or
----------------------------
shown in the reference materials
--------------------------------
for the general meeting of
--------------------------
shareholders, business reports,
-------------------------------
financial documents and
------------------------
consolidated financial documents
--------------------------------
have been provided to the
-------------------------
shareholders by disclosing them
-------------------------------
via the Internet in accordance
------------------------------
with the Ministerial Ordinance of
---------------------------------
the Ministry of Justice.
------------------------
(Method of Adopting Resolutions) (Method of Adopting Resolutions)
Article 15. Except as Article 19.
--- ---
otherwise provided for in laws,
ordinances or these Articles of 1. Except as otherwise
Incorporation, resolutions at a --
general meeting of shareholders provided for in laws, ordinances
shall be adopted by a majority of or these Articles of
the votes of the shareholders Incorporation, resolutions at a
present thereat. general meeting of shareholders
shall be adopted by a majority of
the votes of the shareholders
present thereat who are entitled
----------------
to vote.
--------
2. Special resolutions 2. Resolutions provided for in
-------
provided for in Article 343 of Paragraph 2, Article 309 of the
-------------- -------------------------------
the Commercial Code shall be Corporation Law shall be adopted
------------------- ---------------
adopted by the vote of the by the vote of the shareholders
shareholders not less than not less than two-thirds (2/3) of
two-thirds (2/3) of those present those present at the meeting
at the meeting whereby one-third whereby not less than one-third
(1/3) of voting rights of all the --------------
--- (1/3) of voting rights of the
shareholders shall constitute a shareholders entitled to exercise
quorum. --------------------
voting rights shall constitute a
-------------
quorum.
- 5 -
================================= ==================================
Current Articles of Incorporation Proposed provisions after
amendment
================================= ==================================
(Minutes) (Minutes)
Article 16. The proceedings in Article 20. The proceedings in
--- ---
outline and the resultant actions outline, the resultant actions
taken at a general meeting of -
shareholders shall be entered in taken and other matters subject
the minutes, which shall bear the to laws and ordinances at a
names and seals of the chairman ----------------------
of the meeting and the directors general meeting of shareholders
present and shall be kept by the shall be entered in the minutes,
Company. which shall bear the names and
seals of the chairman of the
meeting and the directors present
and shall be kept by the Company.
CHAPTER IV. DIRECTORS AND BOARD CHAPTER IV. DIRECTORS AND BOARD
OF DIRECTORS OF DIRECTORS
(Number) (Number)
Article 17. The Company shall Article 21. The Company shall
--- ---
have not more than fifteen have not more than fifteen (15)
(15) directors. directors. (Small change in
Japanese)
(Election) (Election)
Article 18. Directors shall be Article 22.
--- ---
elected at a general meeting of
shareholders. 1. (Unchanged)
--
2. Resolutions for the 2. Resolutions for the
election under the preceding election of directors shall be
------------------- ------------
paragraph shall be adopted by a adopted by a majority of the
--------- votes of the shareholders present
majority of the votes of the who hold not less than one-third
shareholders present who hold not (1/3) of the voting rights of the
less than one-third (1/3) of the shareholders entitled to exercise
voting rights of all the --------------------
shareholders. voting rights.
--------------
3. Cumulative voting shall not 3. (Unchanged)
be used for the adoption of
resolutions for the election of
directors.
(Term of Office) (Term of Office)
Article 19. The term of office Article 23.
--- ---
of directors shall be until the 1. The term of office of
close of the ordinary general --
meeting of shareholders relating directors shall be until the
to the last accounts closing date close of the ordinary general
--------------------- meeting of shareholders relating
occurring within two (2) years to the last fiscal year ending
--------- ------------------
after their assumption of office; within two (2) years after their
--------------------- election.
provided, however, that the term --------
--------------------------------
of office of a director elected 2. The term of office of a
------------------------------- --------------------------
to fill a vacancy or by reason of director elected to fill a
--------------------------------- --------------------------
an increase in the number of vacancy of a director who has
---------------------------- -----------------------------
directors shall be for the resigned before the completion of
-------------------------- ---------------------------------
remaining balance of the term of his/her term, or elected to
-------------------------------- ---------------------------
office of the other directors increase the number of directors,
----------------------------- ---------------------------------
currently in office. shall be for the remainin
-------------------- --------------------------
balance of the term of office of
--------------------------------
the other directors currently in
--------------------------------
office.
-------
- 6 -
================================== ==================================
Current Articles of Incorporation Proposed provisions after
amendment
================================== ==================================
(Filling of Vacancy) (Deleted)
--------------------
Article 20. In the event of
---------------------------
any vacancy occurring in the
----------------------------
office of directors, no election
--------------------------------
to fill such vacancy may be held,
---------------------------------
if the number of the remaining
------------------------------
directors is not short of the
-----------------------------
statutory number.
-----------------
(Representative Directors) (Representative Directors)
Article 21. One (1) or more Article 24. Representative
------------------- ---
representative directors shall be Directors shall be elected by
appointed by resolution of the -------
--------- resolution of the Board of
Board of Directors. Directors.
(Calling of Meetings of Board of (Person with the Right to Call
-------------------------------- ------------------------------
Directors; Chairman; Resolutions) the Meeting of Board of Directors
--------------------------------- ---------------------------------
and Chairman)
-------------
Article 22. The Board of Article 25.
---------------- ---
Directors shall decide important
--------------------------------
matters concerning the execution (Deleted)
--------------------------------
of business and affairs of the 1. A meeting of the Board of
------------------------------ ----------------------------
Company as well as such matters Directors shall be called and
------------------------------- -----------------------------
as are provided for in laws and presided over by a Director
------------------------------- ---------------------------
ordinances. previously appointed by the Board
----------- ---------------------------------
of Directors.
-------------
2. A meeting of the Board of 2. In case the Director is
------------------------- unable to act, one of the other
Directors shall be called and directors shall call and preside
----------------------------- ----------------
presided over by a Director over the meeting of the Board of
--------------------------- --------------------------------
previously appointed by the Board Directors in accordance with the
--------------------------------- ----------------------------
of Directors. In case the order determined in advance by
------------- resolution of the Board of
Director is unable to act, one of Directors.
the other directors shall act in
------
his place in the order determined
------------
in advance by resolution of the
Board of Directors.
3. Notice of a meeting of the (Deleted)
-----------------------------
Board of Directors shall be
---------------------------
dispatched to each director and
-------------------------------
each statutory auditor three
----------------------------
(3) days before the date of the
-------------------------------
meeting; provided, however, that
--------------------------------
such meeting may be held without
--------------------------------
going through the procedure for
-------------------------------
calling if so agreed by all the
-------------------------------
directors and the statutory
---------------------------
auditors.
---------
4. Resolutions at a meeting of (Deleted)
------------------------------
the Board of Directors shall be
--------------------------------
adopted by a majority of the
----------------------------
directors present who shall
---------------------------
constitute a majority of the
----------------------------
total number of directors.
--------------------------
(Newly established) (Calling Meetings of Board of
-----------------------------
Directors)
----------
Article 26.
-----------
1. Notice of a meeting of the
--------------------------------
Board of Directors shall be
---------------------------
dispatched to each director and
-------------------------------
each statutory auditor three (3)
--------------------------------
days before the date of the
---------------------------
meeting; provided, however, that
--------------------------------
such period may be shortened in
-------------------------------
case of emergency.
------------------
2. A meeting of the Board of
----------------------------
Directors may be held without
-----------------------------
going through the procedure for
-------------------------------
calling, if so agreed by all the
--------------------------------
directors and the statutory
---------------------------
auditors.
---------
- 7 -
================================== ==================================
Current Articles of Incorporation Proposed provisions after
amendment
================================== ==================================
(Newly established) (Resolutions of Meetings of Board
---------------------------------
of Directors)
-------------
Article 27.
-----------
1. The Board of Directors
-------------------------
shall decide important matters
------------------------------
concerning the execution of
---------------------------
business and affairs of the
---------------------------
Company as well as such matters
-------------------------------
as are provided for in laws and
-------------------------------
ordinances.
-----------
2. Resolutions at a meeting of
------------------------------
the Board of Directors shall be
-------------------------------
adopted by a majority of the
----------------------------
directors present who shall
---------------------------
constitute a majority of the
----------------------------
total number of directors.
--------------------------
(Newly established) (Omission of Resolution of Board
--------------------------------
of Directors)
-------------
Article 28. The Company shall
-----------------------------
deem that the resolution of the
-------------------------------
Board of Directors has been
---------------------------
adopted if the requirements under
---------------------------------
Article 370 of the Corporation
------------------------------
Law are satisfied.
------------------
(Remuneration) (Remuneration and other interests)
-------------------
Article 23. Remuneration of Article 29. Remuneration and
-- --
directors shall be determined by bonus of directors and other
--------- ----------------------------
resolution at a general meeting property interests received by
of sharefolders. ------------------------------
the directors from the Company in
---------------------------------
consideration of the performance
--------------------------------
of their duties (hereinafter
----------------------------
referred to as the
------------------
"Remuneration") shall be
---------------
determined by resolution at a
general meeting of shareholders.
(Newly established) (Exemption of Liability of
--------------------------
Outside Directors)
------------------
Article 30. The Company may
---------------------------
enter into an agreement with
----------------------------
outside directors under which
-----------------------------
their liability for damages due
-------------------------------
to the failure in performing
----------------------------
their duties shall be limited in
--------------------------------
accordance with the provisions of
---------------------------------
Paragraph 1, Article 427 of the
-------------------------------
Corporation Law; provided,
--------------------------
however, that the limit of
--------------------------
liability under such agreement
------------------------------
shall be the higher of the
--------------------------
predetermined amount of not less
--------------------------------
than ten million (10,000,000)
-----------------------------
yen, or the amount provided for
-------------------------------
under the laws and ordinances.
------------------------------
CHAPTER V. STATUTORY AUDITORS CHAPTER V. STATUTORY AUDITORS
AND BOARD OF STATUTORY AUDITORS AND BOARD OF STATUTORY AUDITORS
(Number) (Number)
Article 24. The Company shall Article 31. The Company shall
--- ---
have not more than five have not more than five (5)
(5) statutory auditors. statutory auditors. (Small change
in Japanese)
- 8 -
================================== ===================================
Current Articles of Incorporation Proposed provisions after
amendment
================================== ===================================
(Election) (Election)
Article 25. Statutory Article 32.
--- ---
auditors shall be elected at a
general meeting of shareholders. 1. (Unchanged)
--
2. Resolutions for the 2. Resolutions for the
election under the preceding election of statutory auditors
------------------- ---------------------
paragraph shall be adopted by a shall be adopted by a majority
--------- of the votes of the shareholders
majority of the votes of the present who hold not less than
shareholders present who hold one-third (1/3) of the voting
not less than one-third (1/3) of rights of the shareholders
the voting rights of all the entitled to exercise voting
shareholders. ---------------------------
rights.
-------
(Term of Office) (Term of Office)
Article 26. The term of Article 33.
--- ---
office of statutory auditors 1. The term of office of
shall be until the close of the --
ordinary general meeting of statutory auditors shall be
shareholders relating to the until the close of the ordinary
last accounts closing date general meeting of shareholders
--------------------- relating to the last fiscal year
occurring within four (4) years -----------
--------- ending within four (4) years
after their assumption of ------
office; provided, however, that after their assumption of office.
-----------------------
the term of office of a
-----------------------
statutory auditor elected to 2. The term of office of a
---------------------------- --------------------------
fill a vacancy shall be for the statutory auditor elected to
------------------------------- ----------------------------
remaining balance of the term of fill a vacancy of an auditor
-------------------------------- ----------------------------
office of the retired statutory resigned before the completion
------------------------------- ------------------------------
auditor. of the term shall be for the
-------- ----------------------------
remaining balance of the term of
--------------------------------
office of the retired statutory
-------------------------------
auditor.
--------
(Filling of Vacancy) (Deleted)
--------------------
Article 27. In the event of
---------------------------
any vacancy occurring in the
----------------------------
office of statutory auditors, no
--------------------------------
election to fill such vacancy
-----------------------------
may be held, if the number of
-----------------------------
the remaining statutory auditors
--------------------------------
is not short of the statutory
-----------------------------
number.
-------
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================================== ==================================
Current Articles of Incorporation Proposed provisions after
amendment
================================== ==================================
(Calling of Meetings of Board of (Person with the Right to Call
-------------------- ------------------------------
Statutory Auditors; Resolutions) the Meeting of Board of Statutory
-----------
Auditors)
Article 28. The Board of Article 34.
--- ---
Statutory Auditors shall decide
-------------------------------
matters concerning the audit (Deleted)
----------------------------
policy, the methods for
-----------------------
investigating the state of the
------------------------------
business and property and the
-----------------------------
execution of other duties of
----------------------------
statutory auditors as well as
-----------------------------
such matters as are provided for
--------------------------------
in laws and ordinances.
-----------------------
2. A meeting of the Board of A meeting of the Board of
Statutory Auditors shall be Statutory Auditors shall be
called by each statutory auditor. called by each statutory auditor.
3. Notice of a meeting of the (Deleted)
--------------------------
Board of Statutory Auditors shall
---------------------------------
be dispatched to each statutory
-------------------------------
auditor three (3) days before the
---------------------------------
date of the meeting; provided,
------------------------------
however, that such meeting may be
---------------------------------
held without going through the
------------------------------
procedure for calling if so
---------------------------
agreed by all the statutory
---------------------------
auditors.
---------
4. Except as otherwise (Deleted)
----------------------
provided for in laws or
-----------------------
ordinances, resolutions at a
----------------------------
meeting of the Board of Statutory
---------------------------------
Auditors shall be adopted by a
------------------------------
majority of the statutory
-------------------------
auditors.
---------
(Newly established) (Calling Meetings of Board of
-----------------------------
Statutory Auditors)
-------------------
Article 35.
-----------
1. Notice of a meeting of the
-----------------------------
Board of Statutory Auditors shall
---------------------------------
be dispatched to each statutory
-------------------------------
auditor three (3) days before the
---------------------------------
date of the meeting; provided,
------------------------------
however, that such period may be
--------------------------------
shortened in case of emergency.
-------------------------------
2. A meeting of the Board of
----------------------------
Statutory Auditors may be held
------------------------------
without going through the
-------------------------
procedure for calling, if so
----------------------------
agreed by all the statutory
---------------------------
auditors.
---------
(Newly established) (Resolutions of Meetings of Board
---------------------------------
of Statutory Auditors)
----------------------
Article 36.
------------
1. The Board of Statutory
-------------------------
Auditors shall decide matters
-----------------------------
concerning the audit policy, the
--------------------------------
methods for investigating the
-----------------------------
state of the business and
-------------------------
property and the execution of
-----------------------------
other duties of statutory
-------------------------
auditors as well as such matters
--------------------------------
as are provided for in laws and
-------------------------------
ordinances.
-----------
2. Except as otherwise
----------------------
provided for in laws or
-----------------------
ordinances, resolutions at a
----------------------------
meeting of the Board of Statutory
---------------------------------
Auditors shall be adopted by a
------------------------------
majority of the statutory
-------------------------
auditors.
---------
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================================== ==================================
Current Articles of Incorporation Proposed provisions after
amendment
================================== ==================================
(Full-Time Statutory Auditor) (Full-Time Statutory Auditor)
Article 29. The statutory Article 37. A full-time
------------------------- -----------------------
auditors shall appoint a statutory auditor or auditors
------------------------ -----------------------------
full-time statutory auditor or shall be elected by resolution of
------------------------------ ---------------------------------
auditors from among their number. the Board of Statutory Auditors.
--------------------------------- --------------------------------
(Remuneration) (Remuneration and other interests)
Article 30. Remuneration of Article 38. Remuneration and
--- ---
statutory auditors shall be other interests of statutory
determined by resolution at a auditors shall be determined by
general meeting of shareholders. resolution at a general meeting
of shareholders.
(Newly established) (Exemption of Liability of
--------------------------
Outside Statutory Auditors)
---------------------------
Article 39. The Company may
---------------------------
enter into an agreement with
----------------------------
outside statutory auditors under
--------------------------------
which their liability for damages
---------------------------------
due to the failure in performing
--------------------------------
their duties shall be limited in
--------------------------------
accordance with the provisions of
---------------------------------
Paragraph 1, Article 427 of the
-------------------------------
Corporation Law; provided,
--------------------------
however, that the limit of
--------------------------
liability under such agreement
------------------------------
shall be the higher of the
--------------------------
predetermined amount not less
-----------------------------
than five million (5,000,000)
-----------------------------
yen, or the amount provided for
-------------------------------
under the laws or regulations.
------------------------------
CHAPTER VI. ACCOUNTS CHAPTER VI. ACCOUNTS
(Business Year; Accounts Closing (Fiscal Year)
-------------------------------- -------------
Date)
-----
Article 31. The business year Article 40. The fiscal year of
--- -------- --- ------
of the Company shall be from the Company shall be one year
April 1 of each year to March 31 --------
of the following year and the from April 1 of each year to
------- March 31 of the following year.
last day of each business year
------------------------------
shall be the accounts closing
-----------------------------
date.
-----
(Dividends) (Record Date for Dividends at
----------- -----------------------------
Fiscal Year End)
----------------
Article 32. Dividends shall be Article 41. The record date
---------------------- -------------------
paid to the shareholders and for the dividends to be paid by
---------------------------- -------------------------------
registered pledgees appearing or the Company at the end of fiscal
-------------------------------- --------------------------------
recorded in the final register of year shall be March 31 of each
--------------------------------- -------------
shareholders as of March 31 of year.
------------------
each year.
(Interim Dividends) (Interim Dividends)
Article 33. The Company may, Article 42. The Company may,
--- ---
by resolution of the Board of by resolution of the Board of
Directors, make cash distribution Directors, pay interim dividends
---------------------- ---------------------
as provided for in Article 293-5 by regarding September 30 of each
-------------------------------- ------------
of the Commercial Code of Japan year as the record date.
------------------------------- ------------------
("interim dividends") to the
----------------------------
shareholders or registered
--------------------------
pledgees appearing or recorded in
---------------------------------
the final register of
---------------------
shareholders as of September 30
------------------
of each year.
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================================== ==================================
Current Articles of Incorporation Proposed provisions after
amendment
================================== ==================================
(Period of Limitations) (Period of Limitations for
---
Dividends)
---------
Article 34. The Company shall Article 43. The Company shall
--- ---
be relieved from the obligation be relieved from the obligation
to pay any dividend or interim to pay any property available for
------------------- ----------------------
dividend if such any dividend or distribution if such property
-------- --------------- ------------ --------
interim dividend remains available for distribution is
---------------- -----------------------------
unreceived after the lapse of cash and still remains unreceived
three (3) full years from the --------------
date on which the same became due after the lapse of three (3) full
and payable. years from the date on which the
same became due and payable.
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