March 30, 2004

LECIP Corporation
1260-2 Kaminoho, Motosu City
Gifu Prefecture 501-0401 Japan

LECIP Shipping Service
Merged into Parent

As of March 30, 2004, LECIP Corporation has absorbed 100% of the LECIP Shipping Services affiliate as a part of corporate streamlining, adopting for the procedure the simplified merge procedure.

Objective

LECIP Shipping Services Co. Inc. established and developed its operations as a member of the LECIP Group, however within the last round of corporate planning aimed at optimizing resource use, a merge was judged as the move that would best advance the wider plans as a whole.


Schedule of the Merge

January 15, 2004		Merge contract approved at the LECIP Corporation Board of Directors meeting
February 2, 2004		Filing deadline for the merge contract
February 18, 2004		Motion for merger contract approval raised at general stockholders of LECIP Shipping Service. In accordance with Simplified Merge Proceedings, Commercial Law Section 413, provision 3 (Simplified Merger), a need for a meeting of stockholders of LECIP Corporation did not arise.
March 30, 2004		Deadline for execution of merge Formal registration

Aa a result, LECIP Shipping Services has been dissolved as a corporate body and its role and function continued without interruption in the parent LECIP Corporation. Since 100% of the founding capital for LECIP Shipping Services was funded by LECIP Corporation, this change did not result in the need for the issuance of new stock and the payment of a fee for granting approval for a merge.