Announcement of Expansions to Early Retirement Program

Nikon Corporation has implemented expansions to its existing early retirement program, as detailed below:

1. Reason for expansion
   The harsh business environment is continuing, and as part of ongoing efforts to improve the soundness of the corporate foundation through reduction of fixed expenses, the early retirement program has been expanded.
2. Outline of expansions
   1. Applies to: Employees age 45 or older
   2. Application period: April 15, 2002 to May 10, 2002
   3. Retirement payments: Standard retirement payments, early retirement program bonus payments, and a special payment under this expansion
   4. Re-employment support: Support through a re-employment services company
3. Future outlook
   Special payments incurred under this early retirement program expansion are scheduled to be taken as a special loss for the fiscal year ending March 2003.