RNS Number:0674O
Takefuji Corporation
29 July 2003

For release       Immediately
Representative    Akira Kiyokawa, President
Contact           Investor Relations
Tel: 81-3-3365-8011
Fax: 81-3-3365-8070
Stock Code No. 8564 TYOSE

Comment on articles appearing in the press on July 28th, 2003.

Tokyo, Japan: July 29, 2003

In January of this year, Takefuji Corporation was instructed by the Osaka Labour
Standards Office to make certain improvements in its procedures relating to
overtime remuneration. We have already, as of 14th March 2003, fully compensated
all current employees qualifying for overtime compensation under the Labour
Standards Law for any instances of unpaid overtime worked over the previous two
years. As of 15th July 2003, we have almost concluded the process of
compensating all former employees to whom payments were due on the same basis,
and will continue to work to resolve a small number of outstanding cases where
we have so far been unable to confirm the present address or otherwise make
contact with ex-employees. The aggregate payment made to around 5,000 current
and former employees in regard to this matter is Yen3,459 million which was
already booked under personnel expenses in the previous fiscal year.

Secondly, in April 2003 we revised our office regulations and established a
labour committee on working practices in order to ensure uniform and appropriate
company-wide standards for managing overtime work.

We have introduced or initiated a number of specific measures in furtherance of
these policies, of which the main ones are as follows:

  * The new overtime policy has been clearly set out in internal and
    external announcements.
  * Our compliance committee has established a specific subcommittee on
    working practices ("labour committee") to propose appropriate measures for
    workplace management.
  * Establishment of a subcommittee ("labour improvement committee") to
    improve working practices, which will monitor compliance with the Labour
    Standards Law and overtime-related recording-keeping.
  * Revisions to office regulations, organization chart and job
    descriptions.
  * A specific training session on overtime management was held at our
    national branch manager's conference.
  * We have introduced a new format for our overtime management tables,
    which will simplify and improve the management process.
  * A limit has been introduced on the number of hours and employee can use
    his/her computer.
  * The start and end of the working day, as well as the latest time for
    leaving the office, are now clearly signalled by chimes, to increase
    employee awareness.
  * Notices are displayed drawing employees' attention to these issues.

We intend to urge our company slogan - Takefuji seeks to be the most attractive
company in Japan - by complying with the Labour Standards.






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