New Appointment of Directors and Introduction of the Executive Officer System

Nikon Corporation (YOSHIDA, Shoichiro, president) announces that the board of directors decided today its recommendation for new appointments of Directors to be proposed to the ordinary General Shareholders' Meeting on the coming 2001-06-28 and the Board of Directors Meeting to immediately follow it, and the introduction of the executive officer system.

I. New Appointment

1. Recommended appointment of Director (as of 2001-06-28)

   Recommended title	Name	Current title
   Chairman* & Chief Executive Officer	YOSHIDA, Shoichiro	President*
   Vice Chairman* & Chief Financial Officer	ENYA, Kenji	Executive Vice President*
   President* & Chief Operational Officer	SHIMAMURA, Teruo	Managing Director, President of Precision Equipment Company
   Executive Vice President*	HARA, Yasujiro	Managing Director, Chief Officer of Corporate Strategy Center
   Managing Director & Senior Officer	KARIYA, Michio	Director, President of Imaging Company
   Managing Director & Senior Officer	SASAYAMA, Shinya	Director, General Manager of IC Equipment Division, Precision Equipment Company
   Managing Director & Senior Officer	TAKAHASHI, Yosuke	Director, Assistant Chief Officer of Business Development Center
   Managing Director & Senior Officer	KUROSAWA, Masami	Director, Assistant Chief Officer of Corporate Strategy Center
   Director	TSUCHIDA, Terumichi	Director, Senior Corporate Advisor of Meiji Life Insurance Company
   Director	KONO, Shunji	Chairman of The Tokio Marine and Fire Insurance Co.,Ltd.
   Director & Officer	TOKOI, Kazumasa	Director, Assistant Chief Officer of Corporate Strategy Center

2. Recommended appointment of Officer (as of 2001-06-28)
   In addition to the above 8 Directors & Officers, the following 13 Officers will be appointed.

   Recommended title	Name	Current title
   Officer	NISHIDA, Yoichi	Director, President of Nikon-Essilor Co.,Ltd.
   Officer	TAMORI, Takashi	Director, President of Instruments Company
   Officer	OTSUKA, Motosuke	Director, Assistant Chief Officer of Business Administration Center
   Officer	SHIMIZU, Hisayuki	President of Nikon Precision Inc.
   Officer	UMEDA, Yuichi	Deputy General Manager of IC Equipment Division, Precision Equipment Company
   Officer	MIYAUCHI, Norio	General Manager of Marketing & Merchandising Management Department, Imaging Company
   Officer	KAJIWARA, Mamoru	General Manager of Office of the President
   Officer	MORI, Hidetoshi	General Manager of LCD Equipment Division, Precision Equipment Company
   Officer	WATANABE, Takao	General Manager of Intellectual Property Department, Core Technology Center
   Officer	SUWA, Kyoichi	Deputy General Manager of Sales & Marketing Headquarters, Precision Equipment Company
   Officer	KAWAI, Yoshimichi	General Manager of Customized Products Division
   Officer	KIMURA, Makoto	General Manager of Strategic Planning Department, Imaging Company
   Officer	TOMINO, Naoki	General Manager of Development Management Department, Imaging Company

3. Recommended appointment for retiring Director (as of 2001-06-28)

   Current title	Name	Recommended title
   Chairman*	ONO, Shigeo	Corporate Advisor
   Executive Vice President*	TSURUTA, Tadao	Counsellor
   Managing Director	OBANA, Yuji	Corporate Auditor
   Managing Director	KURAMOTO, Toyohisa	Counsellor
   Managing Director	IKEDA, Hideo	Counsellor
   Director	TAKEDA, Haruo
   Director	KIRIBUCHI, Akinori	Counsellor
   Director	NISHIDA, Yoichi	Officer
   Director	TAMORI, Takashi	Officer
   Director	OTSUKA, Motosuke	Officer

4. Recommended appointment of Corporate Auditor (as of 2001-06-28)

   Recommended title	Name	Current title
   Standing Corporate Auditor	OBANA, Yuji	Managing Director
   Standing Corporate Auditor	IMAGAWA, Yoshiro	Standing Corporate Auditor
   Corporate Auditor	OKANO, Mitsutake	Corporate Auditor, Corporate Advisor of Mitsubishi Corporation

5. Recommended appointment for retiring Corporate Auditor (as of 2001-06-28)

   Current title	Name	Recommended title
   Standing Corporate Auditor	NAKANO, Tomochika	Counsellor

• Remarks : “*” indicates “ representative director”.

II. Executive Officer System

• Background to introduce the system

  Nikon Corporation has been pursuing its management system reform such as introduction of in-house company system 1999-10-01.
  The introduction of the executive officer system will be made to speed up the decision making and business operation, and to further enhance integrity of each business unit.
  The executive officer system will be effective as from 2001-06-28.

• Objectives to introduce the system
  1. To strengthen both the decision making function of the management and the business operation function through their separation and decentralization in future.
  2. To build up the remuneration system linked to business performance together with the introduction of the executive officer system, which should lead to enhance the corporate performance and the shareholders' value.
  3. To secure the opportunity to promote a variety of human resources to the most appropriate position.