Resolutions of the 100th Annual Shareholders' Meeting
After presentation of the Business Report, Balance Sheet, and Statement of Income for the 100th Business Period (from April 1, 1999, to March 31, 2000), the following resolutions were made at the 100th Annual Shareholders' Meeting held on June 29, 2000.
Resolutions
Resolution No.1 : Appropriation of Retained Earnings for the 100th Business Period
Resolved that year-end dividends would be distributed at the rate of 5.00 yen per share. Approved and passed as originally proposed.
Resolution No.2 : Partial Amendments in Article of Incorporation
Proposal to establish new stock option system for Members of the Board and employees. Approved and passed as originally proposed.
Kuniaki Suzuki, Taketoshi Ishii, Masamichi Ogura, Toshihiro Nishimura and Hiroaki Takeichi were elected Members of the Board and have taken office.
Resolution No.4 : Election of One Auditor
Katsuhiko Kondo was elected auditor and has taken office. Mr. Kondo was designated external auditor as defined by Item 1, Article 18 of the "Law Regarding Exceptional Rules of Commercial Code Concerning Auditing, etc. of Stock Corporations."
Resolution No.5 : Granting Stock Options to Members of the Board and Employees
Proposal to allow Company to grant stock options not more than 1,305,000 in total to all 32 Members of the Board and 15 senior exectives from the management layer just below Board members. Approved and passed as originally proposed.
Resolution No.6 : Presentation of Retirement Allowances to the Retiring Board Members
It was resolved that retirement allowances within reasonable amount were to be presented to the five retiring directors : Michio Naruto, Takesi Maruyama, Masuo Tanaka, Michio Fujisaki and Yoshiro Yoshioka, according to the Company's standard practice, and that the concrete amount of the retirement allowances and the time and manner of their presentation be decided by the Board of Directors.
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