Fujitsu Limited

euro adhoc: Fujitsu Limited
Annual & Special Corporate Meetings / FUJITSU LIMITED NOTICE OF AGM (E)

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To our shareholders,

June 4, 2004

                                              Hiroaki Kurokawa, President
                                              Fujitsu Limited
                                              1-1, Kamikodanaka 4-chome
                                              Nakahara-ku, Kawasaki


You are cordially invited to attend the 104th Annual Shareholders' Meeting, to be held as set forth below. If you are unable to attend the meeting, we ask that you kindly exercise your voting rights using one of the following methods.

Voting by mail

Please review the attached materials and complete the enclosed Voting Card, indicating your approval or disapproval of each of the proposals, affix your seal or signature, and return the Voting Card to the Company.

Voting via the Internet

Please access the Internet site ( for voting, using the control number and temporary password shown on the enclosed Voting Card.  After reviewing the attached materials or the voting materials on the Internet, please follow the instructions on the screen to indicate your approval or disapproval of each of the proposals.

If you attend the meeting in person, please submit the enclosed Voting Card to the receptionist.

1.  Date & Time                June 23, 2004; 10 a.m.

2.  Venue                         Shin Yokohama Prince Hotel, Sinfonia Hall
                                        (5th Floor)
                                        3-4 Shin Yokohama
                                        Kohoku-ku, Yokohama-shi

3.  Business to Be Conducted


Presentation of the Business Report, Balance Sheet,  and Statement of Income for the 104th Business Period (April 1, 2003 to March 31, 2004)


Proposal No. 1        

Approval of the Proposed Appropriation of Retained Earnings for the 104th Business Period

Proposal No. 2        

Partial Revision to the Articles of Incorporation

A summary of the proposal is included on pages 3 to 4 of the attached voting materials.

Proposal No. 3        

Election of Three Members of the Board

Proposal No. 4        

Election of Four Auditors

Proposal No. 5        

Granting of Retirement Allowances to Retiring Members of the Board and Auditors

(Note: The Reports on the 104th Business Period are attached as Exhibit A.)


(1)      Those attending the meeting are requested to present the
enclosed Document for Exercise of Voting Rights to the receptionist.

(2)      This English version Notice of Convocation and Reference
Material are based on the separate Japanese version.  The style of
the English version differs slightly from the Japanese version.


1. Total number of shareholder voting rights: 1,986,430.

2. Proposals and Reference Materials

Proposal No. 1          

Approval of the Proposed Appropriation of Retained Earnings for the 104th Business Period

We have forgone paying dividends since our interim dividend in the
103rd business term and caused great inconvenience to our
shareholders. As our earnings and financial bases have recovered and
strengthened owing to business restructuring efforts in the previous
terms, we are now capable of paying dividends.      However, in view of
the outlook for a continued difficult operating environment and as
indicated in the page A- 23 of the "104th Business Period Report", we
propose to limit our dividend payment to 3 yen at the end of the term
in order to strengthen our operational base.

Furthermore, we propose to resume payments of bonuses to our directors, which were halted for the past two terms.

Proposal No. 2          

Partial Revision to the Articles of Incorporation

The company proposes to amend its Articles of Incorporation as specified below.

The reasons for these amendments are as follows:

i. Amendment to Article 6 : While we do not currently have any specific plans for repurchase of our shares,    we will add a provision in compliance with the revised Commercial Code that will allow our Board of Directors to flexibly buy back our shares in accordance with the conditions of our capital structure.

ii. Amendment to Article 29, 30, 38 : We propose to add a new provision to limit liabilities of Directors and Auditors as permitted by the Commercial Code so that they may adequately perform their expected duties. In order to more easily appoint outside directors who have the ability to objectively oversee our management, we also propose to add a new provision that will allow us to form limited liability agreements with outside directors.

We have already received the approval of this proposal from the Board of Auditors.

The proposed revisions are summarized below. Revised portions are underlined.

Prior to Revision                                 Revised

New                                                        Article 6  (Stock Repurchase)
                                                            The Company in accordance
                                                            with Article 211-3, Section
                                                            1-2 of the Commercial Code,
                                                            has the right to undertake a
                                                            stock repurchase upon the
                                                            decision of the Board of

Article 6 to Article 27 (Omitted)        Article 7 to Article 28

New                                                        Article 29 (Limitation of
                                                            Liabilities of Directors) The
                                                            Company, by a resolution of
                                                            the Board of Directors,  in
                                                            accordance with Article 266,
                                                            Section 12 of the
                                                            Commercial Code may exempt
                                                            Directors from their
                                                            liabilities arising in
                                                            connection with the actions
                                                            provided for in Article
                                                            266, Section 1-5 of the
                                                            Commercial Code to
                                                            the extent permitted by law.

New                                                        Article30  (Limited liability
                                                            contract for outside
                                                            directors)  The Company, in
                                                            accordance with Article 266,
                                                            Section 19 of the Commercial
                                                            Code, reserves the right to
                                                            form a contract limiting
                                                            monetary liabilities with  
                                                            outside directors in
                                                            connection with the actions
                                                            provided for in Article 266,
                                                            Section 1-5 of the Commercial
                                                            Code. The maximum amount of
                                                            liability is as defined by
                                                            Article 266, Section 19 of
                                                            the Commercial Code.

Article 28 to Article 34 (Omitted)      Article 31 to Article 37

New                                                        Article 38 (Limitation of
                                                            Liabilities of Auditors) The
                                                            Company may, by a resolution
                                                            of the Board of Directors, in
                                                            accordance with Article 280,
                                                            Section 1 of the Commercial
                                                            Code may exempt Auditors from
                                                            their liabilities to the
                                                            extent permitted by law.

Article 35 to Article 38 (Omitted)      Article 39 to Article 42

Proposal No. 3          Election of Three Members of the Board

With the resignation of Director Junji Maeyama and Michio Fujisaki upon the close of this Annual Shareholders' Meeting, we seek to elect Board Members and to elect another outside Board Member. This should help to fortify the management surveillance function of our Board of Directors.

The candidates for the position of Board Member are as follows:

Candidate  Name and         Personal history and positions      Number of
No.            date of birth at other companies                  shares of the
                                                                                         Company held
                                                                                                  by the

1                 Ikujiro         Apr. 1978    Proffesor,Faculty of                0
                  Nonaka                              Business Administration,
            (May 10, 1935)                        Nanzan University

                                        Jan. 1979    Professor, National
                                                          Defence Accademy in

                                        Apr. 1982    Proffesor, Faculty of
                                                          Commerce and Management,
                                                          Hitotsubashi University

                                        Feb. 1995    Proffesor, Japan Advanced
                                                          Institute of Science and

                                        May. 1997    Faculty Fellow,
                                                          Univercity of California
                                                          (to present)

                                        Apr. 2000    Professor, Graduate
                                                          School of International
                                                          Corporate Strategy,
                                                          Hitotsubashi University
                                                          (to present)

2                Toshihiko Ono Feb. 1973    Joined the Company          2,000

              (April 19, 1947)Jun. 1999    Group Executive Vice
                                                          President, LSI Group

                                        Apr. 2000    Group Executive Vice
                                                          President, Electronic
                                                          Devices Group

                                        Jun. 2001    Member of the Board

                                        Jun. 2002    Corprate Vice President

                                        Apr. 2003    Corporate Senior Vice
                                                          President (to present)

3                 Chiaki Ito    Apr. 1970    Joined the Company          4,000

          (October 10, 1947)Dec. 1995    General Manager, Mobile
                                                          Computing Div., Personal
                                                          Systems Business Group

                                        Sep. 2000    Senior Group Vice
                                                          President, Personal
                                                          Systems Business Group

                                        Apr. 2001    Group President, Personal
                                                          Systems Business Group

                                        Jun. 2002    Corprate Vice President

                                        Apr. 2003    Corporate Senior Vice
                                                          President (to present)

(Note: Candidate Mr. Ikujiro Nonaka meets the requirements for an Outside Board Member as stipulated in Article 188, Section 2-7-2 of the Commercial Code.)

Proposal No. 4          Election of Four Auditors

The terms of office for Four auditors, Takashi Takaya, Shin Koizumi, Yasuyuki Wakahara and Takeo Kato expire at the close of this shareholders' meeting. we seek to elect a total of four auditors, including two external auditors.

The candidates for corporate auditor are as follows.

We have already received the approval of this proposal from the Board of Auditors.

Candidate  Name and  Personal history and positions Number of shares
No.            date of    at other companies                    of the Company
                 birth                                                         held by the

1                Takeo        Apr. 1961  Joined Fuji Electric                    0
                  Kato                         Manufacturing Co., Ltd.
        (October 14, 1938)              (currently: Fuji Electric
                                                  Holdings Co., Ltd.)

                                 Jun. 1995    Senior Excecutive Managing

                                 Jun. 1998    Auditor of Fujistu Limited
                                                    (to present)

                                 Jun. 1998    Senior Vice President,
                                                    Fujitsu Electric Co., Ltd.
                                                    (currently: Fuji Electric
                                                    Holdings Co., Ltd.)

                                 Jun. 1999    Representative Director

                                 Jun. 2000    Chairman (to present)

2                Takashi    Apr. 1965    Joined the Company                14,000
                 Takaya      Jun. 1995    Member of the Board
            (February 18,
              1942)          Jun. 1999    Senior Vice president

                                 Apr. 2000    Executive Vice President

                                 Apr. 2001    Senior Executive Vice

                                 Apr. 2003    Member of the Board
                                                    (Representative Director)

                                 Jun. 2003    Standing Auditor (to

3                Yoshiharu Sep. 1983    Joined Fanuc Ltd.                        0

                  Inaba      Jun. 1989    Member of the Board

          (July 23,1948)Jun. 1992    Senior Vice president

                                 Jun. 1995    Executive Vice President

                                 May. 2001    Senior Executive Vice

                                 Jun. 2003    President (to present)

4                Hiromasa  Apr. 1970    Joined the Company                5,800

                 Inagaki    Jun. 1996    General Manager, Systems
                                                    Business Div. I, Systems
                                                    Engineering Group

                                 Dec. 2000    Group Senior Vice
                                                    President, System
                                                    Engineering Group

                                 Oct. 2001    Group Senior Vice
                                                    President, Systems
                                                    Integration Group

                                 Jun. 2002    Group Executive Vice
                                                    President, System
                                                    Integration Group

                                 Apr. 2003    Corporate Vice President
                                                    (to Present)

(Note: Candidates Yoshiharu Inaba and Hiromasa Inagaki satisfy requirements for external auditor as defined by Article 18, Section 1 of the "Law Regarding Exceptional Rules of the Commercial Code Concerning Auditing, etc. of Stock Corporation.")

Proposal No. 5 Granting of Retirement Allowances to Retiring
                        Members of the Board and Auditors

It is proposed that retirement allowances be presented to Members of the Board Junji Maeyama and Michio Fujisaki, Standing Auditors Shin Koizumi and Yasuyuki Wakahara who are retiring at the close of this shareholder's meeting. These allowances shall be given in accordance with company standards in gratitude for work they have performed during their terms of office.

It is also proposed that specific amounts, timing and method of payment of the special retirement allowances be determined at a meeting of the Board for the retiring Member of the Board and at a conference of auditors for the retiring Auditors.

The profile of the retiring Members of the Board and Auditors are as follows:

Name                    Profile

Junji Maeyama      Jun. 2003      Member of the Board and Corporate
                          (to present) Executive Vice President

Michio Fujisaki  Jun. 2003      Member of the Board
                          (to present)

Shin Koizumi        Jun. 2001      Standing Auditor
                          (to present)

Yasuyuki              Jun. 1987      Auditor
Wakahara              (to present)

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


end of announcement            euro adhoc 07.06.2004

Further inquiry note: Kentaro Sasaki 81 3 6252 2224

Branche: Hardware
ISIN:      JP3818000006
WKN:        0354912
Börsen:  Frankfurter Wertpapierbörse / official dealing
              SWX Swiss Exchange / official dealing
              London Stock Exchange / official dealing

Weitere Meldungen: Fujitsu Limited

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