Results of Repurchase

Maruwa Co Ld
05 April 2004


                                                                  5 April 2004
MARUWA CO., LTD.
3-83 Minamihonjigahara-cho, Owariasahi-city, Aichi-pref. 488-0044 JAPAN

                                  (Translation)

              Notice concerning the results of repurchase of shares

MARUWA today announced the results of repurchase of shares pursuant to the
provisions of Article 210 of the Commercial Code of Japan. Details are as
follows;

1. Period of repurchase                  1 March 2004 to 31 March 2004
2. Total number of shares repurchased    42,100 shares
3. Total amount of repurchase price      61,275,800 yen
5. Method of repurchase                  Purchase at Tokyo Stock Exchange

(Reference)
Details regarding repurchase of shares resolved at the annual shareholders'
meeting held on 24 June 2003:
(1) Class of shares to be repurchased            Common stock of MARUWA
(2) Total number of shares to be                 Up to 1,000,000 shares
    repurchased
(3) Total amount of repurchase price of          Up to 1,000,000,000 yen
    shares

Results of repurchase from 24 June 2003 to 31 March 2004:
(1) Total number of shares repurchased           68,600 shares
(2) Total amount of repurchase price of shares   99,700,800 yen

END.



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