File 333154163
Rule 424 b3


AMERICAN DEPOSITARY SHARES
One 1 American Depositary Share
represents
Two 2 Shares

THE BANK OF NEW YORK
MELLON
AMERICAN DEPOSITARY
RECEIPT
FOR COMMON STOCK, OF
LIXIL GROUP CORPORATION
INCORPORATED UNDER THE
LAWS OF JAPAN
       The Bank of New York Mellon,
as depositary hereinafter called the
Depositary, hereby certifies i that there
have been deposited with the
Depositary or its agent, nominee,
custodian, clearing agency or
correspondent, the securities described
above Shares or evidence of the right to
receive such Shares, ii that at the date
hereof each American Depositary Share
evidenced by this Receipt represents the
amount of Shares shown above, and
that

or registered assigns IS THE OWNER
OF  AMERICAN DEPOSITARY
SHARES
hereby evidenced and called, and
except as otherwise herein expressly
provided, is entitled upon surrender at
the Corporate Trust Office of the
Depositary, New York, New York of
this Receipt duly endorsed for transfer
and upon payment of the charges as
provided on the reverse of this Receipt
and in compliance with applicable laws
or governmental regulations, at Owners
option 1 to delivery at the office of the
agent, nominee, custodian, clearing
agency or correspondent of the
Depositary, to a person specified by
Owner, of the amount of Deposited
Securities represented hereby or
evidence of the right to receive the
same or 2 to have such Deposited
Securities forwarded at his cost and risk
to him at the Corporate Trust Office of
the Depositary.  The words Deposited
Securities wherever used in this Receipt
shall mean the Shares deposited under
the agreement created by the Receipts
as hereinafter defined including such
evidence of the right to receive the
same, and any and all other securities,
cash and other property held by the
Depositary in place thereof or in
addition thereto as provided herein.
 The word Owner wherever used in this
Receipt shall mean the name in which
this Receipt is registered upon the books
of the Depositary from time to time.
 The Depositarys Corporate Trust
Office is located at a different address
than its principal executive office. Its
Corporate Trust Office is located at 101
Barclay Street, New York, New York
10286, and its principal executive
office is located at One Wall Street,
New York, New York 10286.
             1.
                    RECEIPTS.
       This American Depositary
Receipt this Receipt is one of a
continuing issue of American
Depositary Receipts collectively, the
Receipts, all evidencing rights of like
tenor with respect to the Deposited
Securities, and all issued or to be issued
upon the terms and subject to the
conditions herein provided, which shall
govern the continuing arrangement by
the Depositary with respect to initial
deposits as well as the rights of holders
and Owners of Receipts subsequent to
such deposits.
       The issuer of the Receipts is
deemed to be the legal entity resulting
from the agreement herein provided for.
       The issuance of Receipts against
deposits generally may be suspended,
or the issuance of Receipts against the
deposit of particular Shares may be
withheld, if such action is deemed
necessary or advisable by the
Depositary at any time and from time to
time because of any requirements of
any government or governmental body
or commission or for any other reason.
 The Depositary assumes no liability
with respect to the validity or worth of
the Deposited Securities.
             2.
                    TRANSFER OF
RECEIPTS.
       Until the surrender of this
Receipt in accordance with the terms
hereof, the Depositary will maintain an
office in the Borough of Manhattan,
The City of New York, for the
registration of Receipts and transfers of
Receipts where the Owners of the
Receipts may, during regular business
hours, inspect the transfer books
maintained by the Depositary that list
the Owners of the Receipts.  The
transfer of this Receipt is registrable on
the books of the Depositary at its
Corporate Trust Office by the holder
hereof in person or by duly authorized
attorney, upon surrender of this Receipt
properly endorsed for transfer or
accompanied by proper instruments of
transfer and funds sufficient to pay any
applicable transfer taxes, and the fees
and expenses of the Depositary and
upon compliance with such regulations,
if any, as the Depositary may establish
for such purpose.  This Receipt may be
split into other such Receipts, or may be
combined with other such Receipts into
one Receipt, representing the same
aggregate number of American
Depositary Shares as the Receipt or
Receipts surrendered.  Upon such split
or combination not involving a transfer,
a charge will be made as provided
herein.  The Depositary may close the
transfer books at any time or from time
to time when deemed expedient by it in
connection with the performance of its
duties hereunder.
             3.
                    PROOF OF
CITIZENSHIP OR RESIDENCE.
       The Depositary may require any
holder or Owner of Receipts, or any
person presenting securities for deposit
against the issuance of Receipts, from
time to time, to file such proof of
citizenship or residence and to furnish
such other information, by affidavit or
otherwise, and to execute such
certificates and other instruments as
may be necessary or proper to comply
with any laws or regulations relating to
the issuance or transfer of Receipts, the
receipt or distribution of dividends or
other property, or the taxation thereof
or of receipts or deposited securities,
and the Depositary may withhold the
issuance or registration of transfer of
any Receipt or payment of such
dividends or delivery of such property
from any holder, Owner or other
person, as the case may be, who shall
fail to file such proofs, certificates or
other instruments.
             4.
                    TRANSFERABI
LITY RECORDOWNERSHIP.
       It is a condition of this Receipt
and every successive holder and Owner
of this Receipt by accepting or holding
the same consents and agrees, that title
to this Receipt, when properly endorsed
or accompanied by proper instruments
of transfer, is transferable by delivery
with the same effect as in the case of a
negotiable instrument provided,
however, that prior to the due
presentation of this Receipt for
registration of transfer as above
provided, and subject to the provisions
of Article 9 below, the Depositary,
notwithstanding any notice to the
contrary, may treat the person in whose
name this Receipt is registered on the
books of the Depositary as the absolute
owner hereof for the purpose of
determining the person entitled to
distribution of dividends and for any
other purpose.
             5.
                    TAX
LIABILITY.
       The Depositary shall not be
liable for any taxes or governmental or
other assessments or charges that may
become payable in respect of the
Deposited Securities, but a ratable part
of any and all of the same, whether
such tax, assessment or charge becomes
payable by reason of any present or
future law, statute, charter provision,
bylaw, regulation or otherwise, shall be
payable by the Owner hereof to the
Depositary at any time on request.
 Upon the failure of the holder or
Owner of this Receipt to pay any such
amount, the Depositary may sell for
account of such Owner an amount of
the Deposited Securities equal to all or
any part of the amount represented by
this Receipt, and may apply the
proceeds in payment of such
obligations, the Owner hereof remaining
liable for any deficiency.
             6.
                    REPRESENTA
TIONS AND WARRANTIES.
       Every person presenting Shares
for deposit shall be deemed thereby to
represent and warrant that such Shares
and each certificate, if any, therefor are
validly issued, fully paid and
nonassessable, that such Shares were
not issued in violation of any
preemptive or similar rights of the
holders of any securities and that the
person making such deposit is duly
authorized so to do.  Every such person
shall also be deemed to represent that
the deposit of such securities and the
sale of American Depositary Shares
representing such Shares by that person
in the United States are not restricted
under the Securities Act of 1933, as
amended the Securities Act of 1933.
 Such representations and warranties
shall survive the deposit of such
securities and issuance of Receipts.
       This Receipt is issued subject,
and all rights of the holder or Owner
hereof are expressly subject, to the
terms and conditions set forth on both
sides of this Receipt, all of which form
a part of the agreement evidenced in
this Receipt and to all of which the
holder or Owner hereof by accepting
this Receipt consents.
             7.
                    REPORTS OF
ISSUER OF DEPOSITED
SECURITIES VOTING RIGHTS.
       As of the date of the
establishment of the program for
issuance of Receipts by the Depositary,
the Depositary believed, based on
limited investigation, that the issuer of
the Deposited Securities either i
furnished the Securities and Exchange
Commission the Commission with
certain public reports and documents
required by foreign law or otherwise or
ii published information in English on
its Internet website at
www.lixilgroup.co.jp or another
electronic information delivery system
generally available to the public in its
primary trading market, in either case in
compliance with Rule 12g32b under the
Securities and Exchange Act of 1934 as
in effect and applicable to that issuer at
that time.  However, the Depositary
does not assume any duty to determine
if the issuer of the Deposited Securities
is complying with the current
requirements of Rule 12g32b or to take
any action if that issuer is not
complying with those requirements.
       The Depositary shall be under
no obligation to give notice to the
holder or Owner of this Receipt of any
meeting of shareholders or of any
report of or communication from the
issuer of the Deposited Securities, or of
any other matter concerning the affairs
of such issuer, except as herein
expressly provided.  The Depositary
undertakes to make available for
inspection by holders and Owners of
the Receipts at its Corporate Trust
Office, any reports and communication
received from the issuer of the
Deposited Securities that are both i
received by the Depositary as the holder
of the Deposited Securities and ii made
generally available to the holders of the
Deposited Securities by the issuer
thereof.  Such reports and
communications will be available in the
language in which they were received
by the Depositary from the issuer of the
Deposited Securities, except to the
extent, if any, that the Depositary in its
sole discretion elects to both i translate
into English any of such reports or
communications that were not in
English when received by the
Depositary and ii make such
translations, if any, available for
inspection by holders and Owners of
the Receipts.  The Depositary has no
obligation of any kind to translate any
of such reports or communications or to
make such translation, if any, available
for such inspection.
       The Depositary may, in its
discretion, exercise, in any manner, or
not exercise, any and all voting rights
that may exist in respect of the
Deposited Securities.  The Depositary
may, but assumes no obligation to,
notify Owners of an upcoming meeting
of holders of Deposited Securities or
solicit instructions from Owners as to
the exercise of any voting rights with
respect to the Deposited Securities.
Upon the written request of the Owner
of this Receipt and payment to it of any
expense involved, the Depositary may,
in its sole discretion, but assumes no
obligation to, exercise any voting rights
with respect to the amount of the
Deposited Securities represented by the
American Depositary Shares evidenced
by this Receipt in accordance with that
request.
             8.
                    DISTRIBUTIO
NS.
       Until the surrender of this
Receipt, the Depositary a shall distribute
or otherwise make available to the
Owner hereof, at a time and in such
manner as it shall determine, any
distributions of cash, Shares or other
securities or property other than
subscription or other rights and b may
distribute or otherwise make available
to the Owner hereof, at a time and in
such manner as it shall determine, any
distributions of subscription or other
rights, in each case received with
respect to the amount of Deposited
Securities represented hereby, after
deduction, or upon payment of the fees
and expenses of the Depositary
described in Article 13 below, and the
withholding of any taxes in respect
thereof provided, however, that the
Depositary shall not make any
distribution for which it has not
received satisfactory assurances, which
may be an opinion of United States
counsel, that the distribution is
registered under, or is exempt from or
not subject to the registration
requirements of, the Securities Act of
1933 or any other applicable law.  If the
Depositary is not obligated, under the
preceding sentence, to distribute or
make available a distribution under the
preceding sentence, the Depositary may
sell such Shares, other securities,
subscription or other rights, securities or
other property, and the Depositary shall
distribute the net proceeds of a sale of
that kind to the Owners entitled to them,
after deduction or upon payment of the
fees and expenses of the Depositary
described in Article 13 below and the
withholding of any taxes in respect
thereof.  In lieu of distributing
fractional American Depositary Shares
for distributed Shares or other fractional
securities, the Depositary may, in its
discretion, sell the amount of securities
or property equal to the aggregate of
those fractions.  In the case of
subscription or other rights, the
Depositary may, in its discretion, issue
warrants for such subscription or other
rights andor seek instructions from the
Owner of this Receipt as to the
disposition to be made of such
subscription or other rights.  If the
Depositary does not distribute or make
available to Owners or sell distributed
subscription or other rights, the
Depositary shall allow those rights to
lapse.  Sales of subscription or other
rights, securities or other property by
the Depositary shall be made at such
time and in such manner as the
Depositary may deem advisable.
       If the Depositary shall find in its
opinion that any cash distribution is not
convertible in its entirety or with respect
to the Owners of a portion of the
Receipts, on a reasonable basis into
U.S. Dollars available to it in the City of
New York, or if any required approval
or license of any government or agency
for such conversion is denied or is not
obtainable within a reasonable period,
the Depositary may in its discretion
make such conversion and distribution
in U.S. Dollars to the extent possible, at
such time and rates of conversion as the
Depositary shall deem appropriate, to
the Owners entitled thereto and shall
with respect to any such currency not
converted or convertible either
i distribute such foreign currency to the
holders entitled thereto or ii hold such
currency for the respective accounts of
such Owners uninvested and without
liability for interest thereon, in which
case the Depositary may distribute
appropriate warrants or other
instruments evidencing rights to receive
such foreign currency.
             9.
                    RECORD
DATES ESTABLISHED BY
DEPOSITARY.
       Whenever any cash dividend or
other cash distribution shall become
payable or any distribution other than
cash shall be made, or whenever rights
shall be offered, with respect to
Deposited Securities, or whenever the
Depositary shall receive notice of any
meeting of Owners of Deposited
Securities, or whenever it is necessary
or desirable to determine the Owners of
Receipts, the Depositary will fix a
record date for the determination of the
Owners generally or the Owners of
Receipts who shall be entitled to receive
such dividend, distribution or rights, or
the net proceeds of the sale thereof, to
give instructions for the exercise of
voting rights at any such meeting or
responsible for any other purpose for
which the record date was set.
             10.
                    CHANGES
AFFECTING DEPOSITED
SECURITIES.
       Upon i any change in nominal
value or any subdivision, combination
or any other reclassification of the
Deposited Securities, or ii any
recapitalization, reorganization, sale of
assets substantially as an entirety,
merger or consolidation affecting the
issuer of the Deposited Securities or to
which it is a party, or iii the redemption
by the issuer of the Deposited Securities
at any time of any or all of such
Deposited Securities provided the same
are subject to redemption, then and in
any such case the Depositary shall have
the right to exchange or surrender such
Deposited Securities and accept and
hold hereunder in lieu thereof  other
shares, securities, cash or property to be
issued or delivered in lieu of or in
exchange for, or distributed or paid with
respect to, such Deposited Securities.
 Upon any such exchange or surrender,
the Depositary shall have the right, in its
discretion, to call for surrender of this
Receipt in exchange upon payment of
fees and expenses of the Depositary for
one or more new Receipts of the same
form and tenor as this Receipt, but
describing the substituted Deposited
Securities.  In any such case the
Depositary shall have the right to fix a
date after which this Receipt shall only
entitle the Owner to receive such new
Receipt or Receipts.  The Depositary
shall mail notice of any redemption of
Deposited Securities to the Owners of
Receipts, provided that in the case of
any redemption of less than all of the
Deposited Securities, the Depositary
shall select in such manner as it shall
determine an equivalent number of
American Depositary Shares to be
redeemed and shall mail notice of
redemption only to the Owners of
Receipts evidencing those American
Depositary Shares.  The sole right of the
Owners of Receipts evidencing
American Depositary Shares designated
for redemption after the mailing of such
notice of redemption shall be to receive
the cash, rights and other property
applicable to the same, upon surrender
to the Depositary and upon payment of
its fees and expenses of the Receipts
evidencing such American Depositary
Shares.
             11.
                    LIABILITY OF
DEPOSITARY.
       The Depositary shall not incur
any liability to any holder or Owner of
this Receipt i if by reason of any
provisions of any present or future law
of the United States of America, any
state thereof, or of any other country, or
of any governmental or regulatory
authority, or by reason of any
provision, present or future, of the
charter or articles of association or
similar governing document of the
issuer or of the Deposited Securities, the
Depositary shall be prevented, delayed
or forbidden from or subjected to any
civil or criminal penalty or
extraordinary expenses on account of
doing or performing any act or thing
which by the terms hereof it is provided
shall be done or performed, ii by reason
of any nonperformance or delay,
caused as specified in clause i above, in
the performance of any act or thing
which by the terms of this Receipt it is
provided shall or may be done or
performed, iii by reason of any exercise
of, or failure to exercise, any discretion
provided for herein, iv for the inability
of any Owner or holder to benefit from
any distribution, offering, right or other
benefit which is made available to
holders of Deposited Securities but is
not made available to Owners or
holders, v for any special,
consequential or punitive damages for
any breach of the terms of this Receipt
or vi arising out of any act of God,
terrorism or war or any other
circumstances beyond its control.
       The Depositary shall not be
responsible for any failure to carry out
any requests to vote any Deposited
Securities or for the manner or effect of
any vote that is cast either with or
without the request of any Owner, or
for not exercising any right to vote any
Deposited Securities.
       The Depositary does not assume
any obligation and shall not be subject
to any liability to holders or Owners
hereunder other than agreeing to act
without negligence or bad faith in the
performance of such duties as are
specifically set forth herein.
       The Depositary shall be under
no obligation to appear in, prosecute or
defend, any action, suit or other
proceeding in respect of any of the
Deposited Securities or in respect of the
Receipts on behalf of Owners or
holders or any other persons.  The
Depositary shall not be liable for any
action or nonaction by it in reliance
upon the advice of or information from
legal counsel, accountants or any other
persons believed by it in good faith to
be competent to give such advice or
information.
       The Depositary, subject to
Article 14 hereof, may itself become
the owner of and deal in securities of
any class of the issuer of the Deposited
Securities and in Receipts of this issue.
             12.
                    TERMINATIO
N OF AGREEMENT AND
SURRENDER OF THIS RECEIPT.
       The Depositary may at any time
terminate the agreement evidenced by
this Receipt and all other Receipts by
mailing notice of such termination to
the Owners of all Receipts then
outstanding at their addresses appearing
upon the books of the Depositary, at
least thirty days prior to the date fixed
in such notice for termination.  On and
after such date of termination the
Owner hereof, upon surrender of this
Receipt at the Corporate Trust Office of
the Depositary, will be entitled to
delivery of the amount of the Deposited
Securities represented hereby upon the
same terms and conditions, and upon
payment of a fee at the rates provided
herein with respect to the surrender of
this Receipt for Deposited Securities
and on payment of applicable taxes and
charges.  The Depositary may convert
any dividends received by it in cash
after the termination date into U.S.
Dollars as herein provided, and after
deducting therefrom the fees of the
Depositary and referred to herein and
any taxes and governmental charges
and shall thereafter hold the balance of
said dividends for the pro rata benefit
of the Owners of the respective
Receipts.  As to any Receipts not so
surrendered within thirty days after
such date of termination the Depositary
shall thereafter have no obligation with
respect to the collection or disbursement
of any subsequent dividends or any
subscriptions or other rights accruing on
the Deposited Securities.  After the
expiration of three months from such
date of termination the Depositary may
sell any remaining Deposited Securities
in such manner as it may determine,
and may thereafter hold uninvested the
net proceeds of any such sale or sales
together with any dividends received
prior to such sale or the U.S. Dollars
received on conversion thereof,
unsegregated and without liability for
any interest thereon, for the pro rata
benefit of the Owners of the Receipts
that have not theretofore been
surrendered for cancellation, such
Owners thereupon becoming general
creditors of the Depositary with respect
to such net proceeds.  After making
such sale, or if no such sale can be
made after the expiration of one year
from such date of termination, the
Depositary shall be discharged from all
obligations whatsoever to the holders
and Owners of the Receipts except to
make distribution of the net proceeds of
sale and of such dividends after
deducting all fees, charges and
expenses of the Depositary or of the
Deposited Securities, in case no sale can
be made, upon surrender of the
Receipts.
             13.
                    CERTAIN
FEES AND CHARGES OF THE
DEPOSITARY.
       The Depositary may charge any
party depositing or withdrawing Shares,
any party transferring or surrendering
Receipts, any party to whom Receipts
are issued including issuance pursuant
to a stock dividend or stock split or an
exchange of stock or distribution
pursuant to Articles 8 or 10 or Owners,
as applicable, i fees for the delivery or
surrender of Receipts and deposit or
withdrawal of Shares, ii fees for
distributing cash, Shares or other
property received in respect of
Deposited Securities, iii taxes and other
governmental charges, iv registration or
custodial fees or charges relating to the
Shares, v cable, telex and facsimile
transmission expenses, vi foreign
currency conversion expenses and fees,
vii depositary servicing fees and viii
any other fees or charges incurred by
the Depositary or its agents in
connection with the Receipt program.
 The Depositarys fees and charges may
differ from those of other depositaries.
 The Depositary reserves the right to
modify, reduce or increase its fees upon
thirty 30 days notice to the Owner
hereof.  The Depositary will provide,
without charge, a copy of its latest
schedule of fees and charges to any
party requesting it.
       The Depositary may charge fees
for receiving deposits and issuing
Receipts, for delivering Deposited
Securities against surrendered Receipts,
for transfer of Receipts, for splits or
combinations of Receipts, for
distribution of each cash or other
distribution on Deposited Securities, for
sales or exercise of rights, or for other
services performed hereunder.  The
Depositary reserves the right to modify,
reduce or increase its fees upon thirty
30 days notice to the Owner hereof.
 The Depositary will provide, without
charge, a copy of its latest fee schedule
to any party requesting it.
             14.
                    PRERELEASE
OF RECEIPTS.
       Notwithstanding any other
provision of this Receipt, the
Depositary may execute and deliver
Receipts prior to the receipt of Shares
PreRelease. The Depositary may
deliver Shares upon the receipt and
cancellation of Receipts which have
been PreReleased, whether or not such
cancellation is prior to the termination
of such PreRelease or the Depositary
knows that such Receipt has been
PreReleased.  The Depositary may
receive Receipts in lieu of Shares in
satisfaction of a PreRelease.  Each
PreRelease will be a preceded or
accompanied by a written
representation from the person to whom
Receipts or Shares are to be delivered
that such person, or its customer, owns
the Shares or Receipts to be remitted, as
the case may be, b at all times fully
collateralized with cash or such other
collateral as the Depositary deems
appropriate, c terminable by the
Depositary on not more than five 5
business days notice, and d subject to
such further indemnities and credit
regulations as the Depositary deems
appropriate.  The number of American
Depositary Shares which are
outstanding at any time as a result of
PreReleases will not normally exceed
thirty percent 30 of the Shares
deposited with the Depositary provided,
however, that the Depositary reserves
the right to change or disregard such
limit from time to time as it deems
appropriate.
       The Depositary may retain for
its own account any compensation
received by it in connection with the
foregoing.
             15.
                    COMPLIANCE
WITH U.S. SECURITIES LAWS.
       Notwithstanding any terms of
this Receipt to the contrary, the
Depositary will not exercise any rights it
has under this Receipt to prevent the
withdrawal or delivery of Deposited
Securities in a manner which would
violate the United States securities laws
including, but not limited to, Section
1A1 of the General Instructions to the
Form F6 Registration Statement, as
amended from time to time, under the
Securities Act of 1933.
             16.
                    GOVERNING
LAW VENUE OF ACTIONS JURY
TRIAL WAIVER.
       This Receipt shall be interpreted
and all rights hereunder and provisions
hereof shall be governed by the laws of
the State of New York.
       All actions and proceedings
brought by any Owner or holder of this
Receipt against the Depositary arising
out of or relating to the Shares or other
Deposited Securities, the American
Depositary Shares or the Receipts, or
any transaction contemplated herein,
shall be litigated only in courts located
within the State of New York.
       EACH OWNER AND HOLDER
HEREBY IRREVOCABLY WAIVES,
TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW,
ANY RIGHT IT MAY HAVE TO A
TRIAL BY JURY IN ANY SUIT,
ACTION OR PROCEEDING AGAINST
THE DEPOSITARY DIRECTLY OR
INDIRECTLY ARISING OUT OF OR
RELATING TO THE SHARES OR
OTHER DEPOSITED SECURITIES,
THE AMERICAN DEPOSITARY
SHARES OR THE RECEIPTS, OR
ANY TRANSACTION
CONTEMPLATED HEREIN, OR THE
BREACH HEREOF, INCLUDING
WITHOUT LIMITATION, ANY
QUESTION REGARDING
EXISTENCE, VALIDITY OR
TERMINATION WHETHER BASED
ON CONTRACT, TORT OR ANY
OTHER THEORY.
             17.
                    AMENDMENT
OF RECEIPTS.
       The form of the Receipts and
the agreement created thereby may at
any time and from time to time be
amended by the Depositary in any
respect which it may deem necessary or
desirable. Any amendment which shall
prejudice any substantial existing right
of Owners shall not become effective
as to outstanding Receipts until the
expiration of thirty 30 days after notice
of such amendment shall have been
given to the Owners of outstanding
Receipts provided, however, that such
thirty 30 days notice shall in no event
be required with respect to any
amendment which shall impose or
increase any taxes or other
governmental charges, registration fees,
cable, telex or facsimile transmission
costs, delivery costs or other such
expenses. Every Owner and holder of a
Receipt at the time any amendment so
becomes effective shall be deemed, by
continuing to hold such Receipt, to
consent and agree to such amendment
and to be bound by the agreement
created by Receipt as amended thereby.
In no event shall any amendment impair
the right of the Owner of any Receipt to
surrender such Receipt and receive
therefor the amount of Deposited
Securities represented by the American
Depositary Shares evidenced thereby,
except in order to comply with
mandatory provisions of applicable law.