News Releases from Headquarters



Company: Hitachi, Ltd.
President: Etsuhiko Shoyama
Head Office: 4-6, Kanda-Surugadai, Chiyoda-ku, Tokyo
TSE: 6501
Company: Nissei Sangyo Co., Ltd.
President: Noriaki Higuchi
Head Office: 1-24-14, Nishi-Shimbashi, Minato-ku, Tokyo
TSE: 8036

Notice of Conclusion of Corporate Split Agreement


Tokyo, Japan, May 24, 2001-Hitachi, Ltd., and Nissei Sangyo Co., Ltd., have concluded a corporate split agreement today in connection with the restructuring plan-announced on February 22, 2001-for the Hitachi Group's instruments and semiconductor manufacturing equipment operations. At the same time, the successor company's corporate name and directors newly elected have decided. Nissei Sangyo expects to obtain shareholder acknowledgement of the agreement at its ordinary general meeting of shareholders to be held on June 26, 2001. New corporate name and directors are as follows.

1. Corporate Name
     Nissei Sangyo will change its name to Hitachi High-Technologies Corporation (the “New Company”) on October 1, 2001, the date of the corporate split.

2. Election of directors and auditors
     As a result of the corporate split, Tadataka Okitsu, Hidehito Obayashi, and Hiroshi Kanauchi will become directors of the New Company on the date of the split. The resulting Board of Directors and Auditors for the New Company are as per the appended list.

Hitachi High-Technologies Corporation Board of Directors and Auditors
(as of October 1, 2001)

1. Directors

2. Auditors

Profile of new Representative Director


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