Dear Shareholders :
I wish to inform you regarding the reports and resolutions of the
146th Ordinary General Meeting of Shareholders held on March 30,2005
as described below.
Matters reported:
| 1. |
Business Report, Balance Sheet and Profit/Loss Statement for
the 146th Business Year
(from January 1, 2004, through December 31, 2004) |
| 2. |
Business Reports for Consolidated Balance Sheet and Consolidated
Income Statement on the 146th Business Annual Term (from January
1, 2004 to December 31, 2004) also, Audit Report for Consolidated
Financial Documents for the 146th Business Year completed by Certified
Public Accountant and Board of Auditors |
 |
The substance of the foregoing financial statements and Audit
Report were reported at the meeting. |
Matters resoluted upon:
| Proposal 1: Approval of the proposed appropriation of retained earnings
for the 146th Business Year |
|
The subject matter was approved as proposed. |
| Proposal 2: Election of Seven(7) directors |
|
As proposed, Mr. Yuichi Toba, Mr.Michio Inoue, Mr.Shigeo Tajima,
Mr.Tadao Masuda, Mr.Yoshitake Yamaguchi, Mr.Ikuo Ito and Mr.Shin-ichi
Mori were elected and appointed to the position of director. |
| Proposal 3: Election of One (1) Auditor |
|
As proposed, Mr.Yutaka Kitamura was elected and appointed to
the position of Auditor. |
| Proposal 4: Award of Retirement Benefit Payment to a Retiring
director and an Auditor |
|
As proposed, the award of retirement benefits within a reasonable
range to Mr.Akira Yokoyama, Director and Mr.Hidekuni Okawa, Auditor
retiring upon the close of the present General Meeting of Shareholders,
in recognition of his services while in office was approved in
an amount to be determined in accordance with the prescribed standards
of the Company. It was also approved to entrust the determination
of specific amount, time of payment, method and other particulars
to the discretion of the Board of Directors and the Board of Auditors.
At the meeting of the Board of Directors held at the close of the
146th General Meeting of Shareholders, Mr. Yuichi Toba and Mr.
Michio Inoue were elected and appointed, respectively, as President
and Executive Vice President; Mr.Shigeo Tajima was elected and
appointed to the position of Senior Managing Director; and Mr.
Tadao Masuda and Mr. Yoshitake Yamaguchi were elected and appointed
to the position of Managing Director.
In addition, Mr. Tadayasu Masuko and Mr.Yutaka Kitamura were likewise
elected and appointed to the position of Standing Auditor through
the mutual election of auditors. |
| The new board members are indicated below. |
|
President: |
Yuichi Toba (Representative Director) |
|
Executive Vice President: |
Michio Inoue (Representative Director, general company business,
general labor affairs) |
|
Senior Managing Director: |
Shigeo Tajima (Director of Production and Technology Division) |
|
Managing Director: |
Tadao Masuda (Director of General Administration Division and
General manager of General Affairs) |
|
Managing Director: |
Yoshitake Yamaguchi (Director of Sales Division) |
| |
Director: |
Ikuo Ito (General Manager at Toyama Plant, Production and Technology
Division) |
|
Director: |
Shin-ichi Mori (General Manager of Planning Department, General
Administration Division) |
|
Standing Auditor: |
Tadayasu Masuko |
|
Standing Auditor: |
Yutaka Kitamura |
|
Auditor: |
Takeru Yamazaki |
|
