A video conference of the Board of Directors of ____________________ K.K. (hereinafter referred to as the “Company”) was held on ____________, 20__, at _____ a.m. (Tokyo Time), pursuant the consent of all the directors to the holding of this video conference by dispensing with the procedures required for the convocation thereof.

A quorum being present as above, ___________________________, who was elected chairperson of the meeting, declared the meeting open for business at the appointed time.

It was confirmed that our system of a video conference well works to transit voice and image of the participants without delay, thereby enabling all the participants to exchange their views properly and timely.

Substance of the proceedings of the meeting and the results thereof are as follows:

First Item of Business: Election of Chairman and Managing Director

The chairperson explained the first item of business and requested the directors present to act upon this matter; whereupon, after discussion, the directors present unanimously elected the chairman and managing director as follows:

:

Messrs. __________________ and _________________ accepted their election.

Second Item of Business: Approval of Transfer of Share of Stock

The chairperson explained the item of business and requested the directors present to act upon this matter; whereupon, after discussion, the directors present unanimously approved for _________________ to transfer one (1) share of stock of the Company registered in his name to _________________, another shareholder of the Company.

There being no further items of business to consider, the chairperson declared the meeting closed at _____ a.m. (Tokyo Time).

In order to record the substance of the proceedings of the meeting and the results thereof, these minutes have been prepared, and the directors present and the statutory auditor present have affixed their signatures or seals hereunto.

____________, 20__

______________________________________________K.K.

______________________________________________

Chairperson of the Meeting
Director

______________________________________________

Director

______________________________________________

Director

______________________________________________

Director

______________________________________________

Director

______________________________________________

Statutory Auditor