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Ratings and Corporate Bonds Information

Japanese

As of April 24, 2008

Ratings

Rating agencies Long-term debtShort-term debt
Japan Credit Rating Agency, Ltd.(JCR)A+ / StableJ-1
Rating and Investment Information, Inc.(R&I) A [Stable]a-1
Moody's Japan K.K.*A3---

*The rating from Moody's Japan K.K. is an independent rating not prepared at Nikon's request.

Please refer to the following websites for details regarding the ratings provided by each agency:

Corporate Bonds

Straight Bonds

Title of issue Date of issue Amount
(millions of yen)
Annual
interest
rate (%)
Security Maturity
13th Unsecured Bonds December 12,
2001
5,000 1.7 None December 12,
2008
15th Unsecured Bonds February 28,
2003
10,000 1.4 None February 26,
2010

Convertible Bonds

Title of issueDate of issue Amount
(millions of yen)
Interest
rate (%)
Conversion
price (yen)
Maturity
Zero Coupon Convertible Bonds due 2011 March 15,
2004
34,500 None 2,058 March 15,
2011

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