Appointment of a New Certified Public Accountant

The Board of Directors decided at its meeting of May 14, 2007 to place the selection of accounting auditors on the agenda of the 58th Regular Shareholders’ Meeting to be held on June 28, 2007.
The Board of Auditors has agreed to this.


1. Reason for selecting a new certified public accountant
MISUZU audit Corporation (formerly Chuo Aoyama Audit Corporation), the certified public accountant that had been our outside auditor, received an order to suspend operations from the Financial Services Agency for the 2 months between July 1 and August 31, 2006, thus temporarily losing their status as our certified public accountant as of July 1, 2006.
Having thoroughly researched and studied the matter, we concluded that MISUZU audit Corporation was the appropriate choice our interim certified public accountant , and the Board of Auditors at their meeting of August 25, 2006 selected MISUZU audit Corporation as such.
Taking into account their history and scale, Ernst & Young ShinNihon appears to be appropriate as our new certified public accountant. Thus, MISUZU audit Corporation, our interim accounting auditors, will resign as of the conclusion of the 58th Regular Shareholders’ Meeting to be held on June 28, 2007. The matter of selection of the new certified public accountant will be on the agenda, and the recommendation to appoint Ernst & Young ShinNihon will be brought up.
　
2. Nominated firm
　　　 Name: 　 Ernst & Young ShinNihon
　　 Location: Hibiya Kokusai Building, 2-2-3 Uchisaiwai-cho, Chiyoda-ku, Tokyo

3. Resigning firm
　　　 Name: 　 MISUZU audit Corporation
　　 Location: Kasumigaseki Building, 3-2-5 Kasumigaseki, Chiyoda-ku, Tokyo

4. Scheduled effective date
　　 June 28, 2007

〈Inquiries〉

Matsuda Sangyo Co.,Ltd
IR Department
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FAX：(81) 3-3349-0867
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