The 23rd Annual Meeting of Shareholders

Place	"Prince Hall," 5F Annex Tower, Shinagawa Prince Hotel
Date	Wednesday, June 20, 2007
Start Time	10:00 a.m.
End Time	11:40 a.m.
Participating Shareholders	20,317 (including 475 shareholders attending the meeting on the day)

Reporting and Agenda

Reporting

1. The Business Report, Consolidated Balance Sheet, Consolidated Statement of Income, and Report of the Consolidated Financial Documents audited by the accounting auditors and board of auditors for the 23rd Business Period [1] were presented.
2. The Balance Sheet, Statement of Income for the 23rd Business Period [1] were presented.

• [1] From April 1, 2006, to March 31, 2007

Agenda

Proposal 1: Appropriation of Retained Earnings

The proposal was approved and passed in its original form. (The dividend has been fixed at 5,000 yen per share.)

Proposal 2: Partial Changes to the Articles of Incorporation

The proposal was approved and passed in its original form. The details of the change are explained in the PDF file available below entitled "Notice of The 23rd Annual Meeting of Shareholders" (Proposed Change to the Articles of Incorporation)

Proposal 3: Election of 11 Members of the Board

The proposal was approved and passed in its original form. Messrs. Sadanori Amano, Tadashi Onodera, Nobuhiko Nakano, Yasuhiko Ito, Satoshi Nagao, Hirofumi Morozumi, Takashi Tanaka, Makoto Takahashi, Noboru Nakamura, Hiroshi Okuda and Tsunehisa Katsumata have been elected and appointed Members of the Board.

Proposal 4: Election of 1 Auditor

The proposal was approved and passed in its original form. As an alternate to Mr. Akira Hioki, who retired from his office of Auditor at the closing of the Annual Meeting of Shareholders, Mr. Susumu Oshima was elected and appointed.

Proposal 5: Election of Accounting Auditor

The proposal was approved and passed in its original form. Kyoto Audit Corporation was elected and appointed.

Proposal 6: Issue of Premiums to Directors and Auditors

The proposal was approved and passed in its original form.

Proceedings

Webcast	Broadband (Large screen)
	Narrowband (Small screen)

Notice of The 23rd Annual Meeting of Shareholders

• Notice of The 23rd Annual Meeting of Shareholders (45KB)