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Authorization for Reacquisition of Corporate Stock
(as per Article 210 of the Commercial Code of Japan)

Japanese

May 12, 2003

Authorization for Reacquisition of Corporate Stock
(as per Article 210 of the Commercial Code of Japan)

At the meeting of its Board of Directors on May 12, 2003, Nikon Corporation resolved to make a proposal for authorization to reacquire shares of Nikon stock and to establish a limit to the number of shares that may be reacquired, pursuant to Article 210 of the Commercial Code of Japan. The proposal, which will be placed on the agenda of its 138th ordinary general meeting of shareholders to be held on Friday June 27, 2003, is as follows:

  1. Reason for Reacquisition of Shares
    Nikon will reacquire shares to enable execution of a flexible financial policy to respond to changes in economic conditions.

  2. Details of Reacquisition
    (1) Type of shares to be reacquired: Common shares
    (2) Number of shares to be reacquired: 10 million (maximum)
    (2.7% of total outstanding shares)
    (3) Total cost of shares to be reacquired: ¥10 billion (maximum)



    Note: The above details are contingent upon approval of the "Proposal for Reacquisition of Shares" at the 138th ordinary general meeting of shareholders to be held on Friday June 27, 2003.
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