Announcement(elect of the chairman and president)

We inform you that at the meeting of the board of directors held today， it has been decided to elect the chairman and president as well as senior advisor， as given below， effective 1 April 2003.

We further inform you that it has also been decided at the same board meeting that the title of Honorary Chairman should be bestowed on the outgoing Chairman， Mr. Takashi Imai， effective 1 April 2003.

Also， Mr. Takashi Imai will be retiring from directorship on the expiry of his term of office at the end of the 79th general shareholders meeting to be held in late June 2003.



[Officers]
[Name]

Representative Director and Chairman of the Board
Akira Chihaya (currently， Representative Director and President)


Representative Director and President
Akio Mimura (currently， Representative Director and Executive Vice President)


Director and Senior Advisor， Honorary Chairman
Takashi Imai (currently， Representative Director and Chairman of the Board)