Treasury Stock

Maruwa Co Ld
21 July 2004


                                                                    21 July 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 the repurchase of shares, following the
notice concerning repurchase of shares which was announced on 20 July 2004. 
Details are as follows;

1. Purpose of repurchase                      To pursue proactive use of capital 
                                              in response to a changing business
                                              environment.
2. Class of shares repurchased                Common stock of MARUWA
3. Total number of shares repurchased         147,000 shares
4. Repurchase price                           1,895 yen per share
5. Date of repurchase                         21 July 2004
6. Method of repurchase                       Purchase through the Off-Market 
                                              Transaction System for Treasury 
                                              Stock at Nagoya Stock Exchange

(Reference)
(1)Details of the resolution disclosed on 21 July 2004 concerning the repurchase
 of shares.
   - Class of shares to be repurchased                Common stock of MARUWA
   - Total number of shares to be repurchased         Up to 147,000 shares
   - Total amount of repurchase price                 Up to 278,565,000 yen

(2)Total number of shares repurchased as of 21 July 2004
   - Total number of shares repurchased               147,000 shares
   - Total amount of repurchase price                 278,565,000 yen

END.




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