Replacement of Announcement 7:54 under 1912D

Headline has been amended " Announcement of partial changes"

Announcement of partial changes to terms and conditions of exchange offer and issue of Euro-yen straight bonds due 2011

On November 16, 2009, TAKEFUJI CORPORATION (the "Company") announced, in a press release entitled "Takefuji announces exchange offer and issue of Euro-yen straight bonds due 2011", an offer by the Company to holders (the "Holders") of Takefuji Corporation JPY70,000,000,000 1.5 per cent. Convertible Bonds due 2018 (the "Convertible Bonds") to exchange their Convertible Bonds for either (i) cash only consideration or (ii) an amount of Euro-yen straight bonds due 2011 (the "New Bonds") together with a partial cash consideration (the "Exchange Offer"). In view of the request of the Holders, the board of directors of the Company resolved today for an amendment to certain terms of the Exchange Offer, as well as certain terms of the issuance of the New Bonds, both of which were decided previously by the board of directors resolution dated as of November 16, 2009. The amendment is summarized as follows:

1. Summary of the amendment

 (1) Terms of the Exchange Offer

   Aggregate principal amount of the Convertible Bonds to be purchased

  Previously                                   Up to JPY 40bn

  Revised                                       Up to JPY 70bn

 (2) Terms of the issuance of the New Bonds

   Aggregate issue amount

  Previously                                   Up to JPY 30bn

  Revised                                      Up to JPY 52.5bn

The Company plans to make a further press release on December 4, 2009 on the results of the Exchange Offer, which will include the final terms of the Exchange Offer, as well as the actual issue amount and other details concerning the New Bonds.

This press release does not constitute an offer of any securities for sale. This press release has been prepared for the sole purpose of publicly announcing the exchange offer, etc. in respect of the Company's Euroyen Convertible Bonds due 2018, and not for the purpose of soliciting investment or engaging in any other similar activities within or outside Japan. This press release does not constitute or form a part of the offer of the Bonds for sale in the United States. The Bonds have not been, and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"). The securities may not be offered or sold in the United States or to, or for the account or benefit of, U.S. person (as defined under Regulation S of the Securities Act) absent registration or an exemption from registration under the Securities Act. The securities will not be publicly offered or sold in the United States.