Issue of Debt

RNS Number:3666L
Takefuji Corporation
21 May 2003

For release Immediately
Representative Akira Kiyokawa, President
Contact Investor Relations
Tel [phone] Fax [phone]
Stock Code No 8564 TYOSE

TAKEFUJI CORPORATION SUCCESSFULLY COMPLETES CONVERTIBLE
BOND ISSUE TO RAISE Y33 BILLON

On May 21st , 2003 Tokyo

Takefuji Corporation (Takefuji or the Company) announces that the terms
for its Y33 billion Zero Coupon Convertible Bonds due July 2006 have been fixed 
as follows:

the conversion price has been set at Yen 9,527 per share, which represents a
45.01 per cent premium to the closing price on the Tokyo Stock Exchange on May 
20th 2003, the day of pricing.
Takefuji has also granted the Bookrunner, Credit Suisse First Boston, an option
to purchase additional bonds with a principal amount of Y50 bn, exercisable on 
or before June 4th 2003 (the over-allotment option).

Application has been made to the UK Listing Authority for the bonds to be
admitted to the Official List and to the London Stock Exchange for the bonds 
to be admitted to the London Stock Exchange's market for listed securities.

Stabilisation/FSA

This press release has been issued by Takefuji Corporation and has been approved
solely for the purposes of Section 21 of the Financial Services and Markets Act
2000 by Credit Suisse First Boston (Europe) Limited of One Cabot Square London 
EC14 4QJ.

CSFB is acting for the Company and no one else in connection with the bonds and
will not be responsible to any other person for providing the protections
afforded to clients of CSFB, or for providing advice in relation to the bonds.
This press release is not an offer of securities for sale into the United States
or elsewhere. The securities will not be offered for sale in the United States,
Canada, or Japan. The securities may not be offered or sold in the United States 
or to, or for the account or benefit of US persons (as such terms are defined 
in Regulation Sunder U.S. Securities Act of 1933 as amended.) Any decision to 
purchase any securities mentioned in this press release should be made only on 
the basis of an offering circular to be issued in connection with the offering, 
and not this press release.






                      This information is provided by RNS
            The company news service from the London Stock Exchange

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