Selection of Credit Cards

　The Japan Securities Dealers Association has announced that the Company will select its over-the-counter-registered stock certificates as of May 1, 2003 (Thursday) as a credit mark based on the criteria for selecting "Bird Transactions on Registered Brands".
　We are aware that being selected as a creditworthiness will contribute to improving the liquidity of our stock and that our responsibilities to our investors will be even greater, and we will continue to pursue management that emphasizes our shareholders.

The above


(Reference)
The outline of the selection criteria is as follows.

1 The number of registered shares is more than 10,000 units
2 The number of shareholders is more than 1,000
3 Average monthly trading volume for six months is 100 units or more
4 Monthly average rate of 80% or more for six months
5 Applicable to any of the following
　A: In the previous fiscal year, "Net income" and "Unappropriated income" were positive, and cash dividends were paid.
　B: In the last three fiscal years, “Ordinary income” and “Net income before income taxes” were positive, and in the last fiscal year, “Unappropriated income” was positive.

For details on the criteria for selection, please refer to the "Details on Credit Transactions of Registered Brands" established by the Japan Securities Dealers Association.