News Room 2005 (The former Furukawa-Sky)

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Notice of the Decision Regarding the Public Offering Price, Sales Price and the Number of Shares to be Sold in the Over-Allotment

November 21, 2005

We provide details below about the decision regarding the public offering price, sales price, and the number of shares to be sold in the over-allotment.

1.

Public offering, existing share sale price: ¥510 per share

2.

How the share price was determined:
We surveyed institutional investors during the book-building process about the share price based on a provisional share price range between ¥480 and ¥510. We noted the opinions of investors in the book-building process below.

1)

Indication that registered total demand for shares exceeded the number of shares in the public offering by a sufficient margin.

2)

There were a large number of investors indicating their desire to bid.

3)

The bulk of the bid indications were concentrated at the upper end of the price range.

We note the above conditions in the book-building process.
Consequently, after considering the strong demand indicated in the book-building process for both the number of shares and the potential for a strong price, as well as the favorable capital market conditions with demand for new IPO companies shares strong, and the potential for conditions to change during the period before our issue, we decided to price our shares at ¥510. The subscription price has been determined to be ¥479.40 per share.

3.

Number of shares to be sold in the over-allotment: 5,000,000 shares

(Reference)

1.

Number of shares in public offering and sale of existing shares:

(1)	Number of shares to be issued:	22,100,000 common shares
(2)	Number of shares to be sold:
	To be sold by the underwriter	27,100,000 common shares
	To be sold through over-allotment	5,000,000 common shares

2.

Subscription period: From November 24, 2005(Thursday) to November 29, 2005 (Tuesday)

3.

Payment deadline: December 1, 2005 (Thursday)

4.

Dividend reckoning date: October 1, 2005 (Saturday)

5.

Share delivery date: December 2, 2005 (Friday)

6.

Others: With regards to the new share issuance and sales of existing shares, in compliance with the "Regulations Governing Transaction of Marketable Securities" (Rule of Fair Practice Article 14) as determined by the Japan Securities Dealers Association, we have decided to sell 188,000 shares (inclusive of the over-allotment, 0.3% of the total to be outstanding) of the total new shares to be issued to our employee ownership group through the underwriter.

Note: This notice is only a public notification of facts to the public press and it is not meant to be used as solicitation of the purchase of our shares. All prospective investors are advised to acquire our prospectus and to use their own best judgment in their investment decision.