Acquisition

Maruwa Co Ld
14 February 2005


                                                             14 February 2005
MARUWA CO., LTD.
3-83 Minamihonjigahara-cho, Owariasahi-city, Aichi-pref., 488-0044 JAPAN

                                             (Translation)

             MARUWA to purchase the shares of NEC TOKIN Electronics (Taiwan) Co.,Ltd.
                                      (a new subsidiary)

MARUWA CO., LTD.('MARUWA') announced that MARUWA has signed a transfer agreement with NEC TOKIN
Corporation ('NEC TOKIN') to purchase the entire issued shares of NEC TOKIN Electronics (Taiwan) Co.,
Ltd., a consolidated subsidiary of NEC TOKIN, after a corporate resolution today.

1. Purpose of acquisition

Amid the accelerating development of electronic devices in further multi-functioning and downsizing,
functional components will be more required to protect electronic circuitry from abnormal voltage or
unusual electromagnetic waves.  We are now focusing on expanding the EMC Components business for circuit
protection, lining up multi-layer chip varistors and LC-compound filters, etc.  This acquisition of NEC
TOKIN Electronics (Taiwan) Co., Ltd., which produces multi-layer bead inductors, will provide us a
synergetic effect in manufacturing technologies and in sales activities.

Taking advantage of this acquisition, we are determined to enhance both sales and manufacturing
operations of the EMC Components in Taiwan and China markets.

2. Details of acquisition

(1) Method of acquisition
     The entire issued shares of NEC TOKIN Electronics (Taiwan) Co., Ltd. held by NEC TOKIN will be
     transferred to MARUWA.

(2) Schedule of acquisition
     The agreement for transfer of shares signed  14 February 2005
     To complete the transaction                  31 March 2005

3. About NEC TOKIN Corporation

Name                         NEC TOKIN Corporation
Representative               Takehiko Nakata, representative director
Head office                  7-1 Kohriyama 6-chome, Taihaku-ku, Sendai-shi, Miyagi 982-8510, Japan
Date of incorporation        April 1938
Principle lines of business  Sales and manufacturing of electromagnetic materials, components, and
                             applied products
Paid-in capital              12,990 million yen


4. About NEC TOKIN Electronics (Taiwan) Co., Ltd.
Name                         NEC TOKIN Electronics (Taiwan) Co., Ltd.
Representative               Satoru Sato
Head office                  51-1 Kai-Fa Road, Nan-Tze Export Processing Zone, Kaohsiung, Taiwan
Date of incorporation        August 1973
Principle lines of business  Manufacturing of components for electronic devices
Fiscal term                  31 March
Number of employees          57 (as of 31 March 2004)
Paid-in capital              97,575,000 NT dollars
Shareholders                 NEC TOKIN Corporation           80%
                             Audix Corporation               20% (as of 31 December 2004)
                             *NEC TOKIN will hold 100% shares by the scheduled date of transaction to
                             MARUWA.

5. Shareholding percentage in a new subsidiary by MARUWA
Before transfer                 0%
After transfer                100%

6. Considerable effect on financial results
The acquisition will give no effect on consolidated net sales and income of fiscal 2005, ending March 2005.
As for the outlook for fiscal 2006 ending March 2006, MARUWA will refer within the announcement of the
consolidated final results for fiscal 2005.

END




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