(d) Opinion of Counsel
to the Depositary
March 14, 2006
Citibank, N.A.
Depositary Receipts Services
388 Greenwich Street
New York, NY 10013
Re: American Depositary Shares evidenced American Depositary Receipts representing Two (2) Dollar Validated Shares of common stock, par value 50 Yen each, of Dai Nippon Printing Co., Ltd.
Ladies and Gentlemen:
I refer to the Registration Statement on Form F-6 (the “Registration Statement”) relating to the above-entitled American Depositary Shares (“ADSs”) evidenced by American Depositary Receipts (“ADRs”) each ADS representing two (2) Shares of Dollar Validated common stock, par value 50 Yen each, of Dai Nippon Printing Co., Ltd. (the “Company”), a corporation incorporated under the laws of Japan.
I am of the opinion that the ADSs covered by the Registration Statement, when issued in accordance with the form of the ADR attached as Exhibit (a) to the Registration Statement, will be legally issued and will entitle the holders thereof to the rights specified in the form of ADR.
This opinion is limited to the laws of the State of New York and the Federal laws of the United States. No opinion is expressed as to the laws of any other jurisdiction.
I hereby consent to the filing of this opinion as Exhibit (d) to the Registration Statement.
Very truly yours,
/s/ Patricia Brigantic
Director & Counsel
