RNS Number:7952H
Takefuji Corporation
21 February 2003

February 20, 2003
Takefuji Corporation News Release

For release                                Immediately
Representative                             Akira Kiyokawa, President
Contact                                    Investor Relations
                                           Tel: 81-3-3365-8011
                                           Fax: 81-3-3365-8072
Stock Code No. 8564 TYOSE


Statement on an Amicable Settlement with Ex-employees regarding their Claim for
Wages

   Takefuji Corporation ("the Company") is pleased to announce that we have
today, on the advice of the Osaka District Court, reached an amicable
out-of-court settlement with our ex-employees - Mr. Takeshi Onki and one other -
in regard to the civil proceedings first filed in that Court on June 15th 2000
claiming non-payment for overtime worked. Takefuji will pay the plaintiffs both
the previously unpaid allowance for overtime work and a severance allowance.

   Since its establishment in 1966, the Company has made every effort to achieve
our business objectives under the guiding principal of "putting the customer
first", while fully abiding with all applicable rules and regulations. We have
also striven to provide our employees with a decent level of remuneration. We
believe that our salary scales are more generous than those at other leading
consumer finance firms, both in terms of entry-level pay, and of the average
wage paid per employee and per branch manager.

   But we cannot deny that within our overall compensation arrangements we have
in the past not paid due attention to the specific treatment of overtime pay. We
acknowledge that the Company's performance in this area has been inadequate, and
have now resolved to pay appropriate compensation as soon as possible for past
instances of unpaid overtime.

   We are determined to take this opportunity to carry out a company-wide
examination of our compensation processes. We will institute comprehensive
organizational changes to ensure that this problem does not recur, and to bring
our procedures fully into compliance with the Labor Standards Act.

   In taking these steps, Takefuji Corporation also rededicates itself to
meeting the highest expectations of our customers, shareholders and employees,
and to making our company an outstandingly attractive place to work.


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