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1455-11

Date:

September 22, 2011

To:

All Participants

Category:

Dividends

From:

International Services

Attention:

Operations, Reorg & Dividend Managers, Partners & Cashiers

Subject:

Tax Relief – Country: Japan
Nippon Express Co Ltd. CUSIP: 654563105
Record Date: 09/29/11 Payable Date: TBA
EDS Cut-Off: 10/06/11 Documentation Cut-Off: 10/06/11 8:00 PM

Participants can use DTC’s Elective Dividend System (EDS) function over the Participant Terminal
System (PTS) or TaxRelief option on the Participant Browser System (PBS) web site to certify all or a
portion of their position entitled to the applicable withholding tax rate.
Questions regarding this Important Notice may be directed to GlobeTax. 212-747-9100

Important Legal Information: The Depository Trust Company (“DTC”) does not represent or warrant the accuracy, adequacy,
timeliness, completeness or fitness for any particular purpose of the information contained in this communication, which is based in part
on information obtained from third parties and not independently verified by DTC and which is provided as is. The information contained
in this communication is not intended to be a substitute for obtaining tax advice from an appropriate professional advisor. In providing
this communication, DTC shall not be liable for (1) any loss resulting directly or indirectly from mistakes, errors, omissions, interruptions,
delays or defects in such communication, unless caused directly by gross negligence or willful misconduct on the part of DTC, and (2) any
special, consequential, exemplary, incidental or punitive damages.
To ensure compliance with Internal Revenue Service Circular 230, you are hereby notified that: (a) any discussion of federal tax issues
contained or referred to herein is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties that may be
imposed under the Internal Revenue Code; and (b) as a matter of policy, DTC does not provide tax, legal or accounting advice and
accordingly, you should consult your own tax, legal and accounting advisor before engaging in any transaction.

Non-Confidential
DTCC is now offering enhanced access to all important notices via a new, Web-based subscription service. The new notification system
leverages RSS Newsfeeds, providing significant benefits including real-time updates and customizable delivery. To learn more and to set up
your own DTCC RSS alerts, visit http://www.dtcc.com/subscription_form.php.

1

NIPPON EXPRESS CO LTD has
announced a cash dividend. Deutsche
Bank Trust Company Americas acts as
one of the Depositaries for the company’s
American Depositary Receipt (“ADR”)
program.

DIVIDEND EVENT DETAILS
COUNTRY OF ISSUANCE

NIPPON EXPRESS CO
LTD

ISSUE

Participants can use DTC’s Elective
Dividend System (EDS) function over the
Participant Terminal System (PTS) or Tax
Relief option on the Participant Browser
System (PBS) web site to certify all or a
portion of their position entitled to the
applicable withholding tax rate. Use of
EDS will permit entitlement amounts to be
paid through DTC.

CUSIP#

On ADR Pay Date, all non-Japanese
resident holders will receive this dividend
net of Japanese withholding tax of 7% with
the possibility to reclaim as outlined in the
Eligibility Matrix below.

JAPAN

654563105

DEPOSITARY
ADR RECORD DATE

UNSPONSORED
September 29, 2011

ADR PAY DATE

TBA

ADR GROSS DIVIDEND RATE
ON PAY DATE

TBA

ORD GROSS DIVIDEND RATE
ON PAY DATE

TBA

RATIO

TBA

RATE OF TAX WITHHOLDING

7% (3% additional local
tax for Japanese individual
residents only)

ELIGIBILITY MATRIX
RATE DESCRIPTION

RECLAIM
RATE

ELIGIBLE RESIDENTS

DOCUMENTATION REQUIRED

10%

0%

JAPANESE INDIVIDUAL
RESIDENTS

FAVORABLE - 7%

0%

ALL BENEFICIARIES EXCEPT NO DOCUMENTATION REQUIRED
JAPANESE INDIVIDUAL
RESIDENTS AND TREATY
ELIGIBLE PENSIONS

EXEMPT - 0%

7%

TREATY ELIGIBLE NONJAPANESE RESIDENT
PENSIONS
(PLEASE SEE EXHIBIT 1)

1. FORM 6166
2. APPENDIX A

LARGE SHAREHOLDERS
THAT HOLD 3% OR MORE
OF THE OUTSTANDING
SHARES EXCLUDING
FOREIGN/(JAPANESE)
DOMESTIC CORPORATE
LARGE SHAREHOLDERS
FOR DIVIDEND INCOME

2. APPENDIX A

20%

0%

1. APPENDIX A

3. POWER-OF-ATTORNEY (APPENDIX B)

CHARGES & DEADLINES

FILING METHOD

RELIEF AT
SOURCE

LONG-FORM

MINIMUM SERVICE
CHARGE PER
BENEFICIAL OWNER

FINAL
SUBMISSION
DEADLINE
(ALL TIMES
EST)

BATCH

PAYMENT
METHOD

DEPOSITARY
SERVICE
CHARGE

PAYMENT ON PAY DATE

EDS

UP TO $0.0035
per ADR

$0

October 6, 2011;
8:00 P.M.

POST-EDS PROCESS;
ONGOING

CHECK

UP TO $0.005 per
ADR

UP TO $400

UP TO 5 YEARS
FROM ADR
RECORD DATE

DESCRIPTION OF VARIOUS DOCUMENTATION
DOCUMENT NAME

IRS FORM 6166

DESCRIPTION

ORIGINAL / COPY

ISSUED BY THE INTERNAL REVENUE
ORIGINAL
SERVICE, STATING THE NAME AND TAX
PAYER IDENTIFICATION NUMBER OF THE
BENEFICIAL OWNER. IT MUST BE DATED
WITHIN 9 MONTHS OF SUBMISSION. CANNOT
BE CERTIFIED FOR ANY OTHER COUNTRY.
MUST HAVE IRS CODES 401(A) AND 501 (A)

APPENDIX A
LISTING OF BENEFICIAL OWNERS AND/OR
(COVER LETTER) JAPANESE INDIVIDUAL RESIDENTS

ORIGINAL

SIGNATURE
REQUIREMENT

IRS
REPRESENTATIVE

DTC PARTICIPANT

APPENDIX B
(POWER OF
ATTORNEY)

SIGNED BY BENEFICIAL OWNER APPOINTING ORIGINAL
DEPOSITARY ON BENEFICIAL OWNER’S
LETTERHEAD

BENEFICIAL OWNER

LIMITED POWER
OF ATTORNEY

IF THE POA IS SIGNED BY THE BROKER,
TRUST AGREEMENT OR LIMITED POA MUST
ALSO BE SUBMITTED

COPY

DTC PARTICIPANT

APPENDIX C

CERTIFICATE OF RESIDENCE FOR UK
PENSIONS

ORIGINAL

UK TAX AUTHORITY

WITHHOLDING TAX UPDATE REGARDING “LARGE SHAREHOLDERS”
Individual (non-Corporate) "large shareholders" who hold 3% or more of the number of outstanding shares for dividend
income from listed shares, now fall under the "large shareholder" category. These "large shareholders" will no longer be
eligible for the preferential tax rates and thus be applied the 20% tax rate for dividends paid after September 30, 2011.
Participants are required to disclose the name and address of these "large shareholders" to the Depositary by the deadline
stated within this notice. Corporate entities (both Japanese and non-Japanese) who hold 3% or more of the number of
outstanding shares for dividend income from listed shares are still entitled to the preferential withholding rates and are
eligible to receive the income with a 7% withholding rate applied or more if eligible based on the treaty between the investors
country of residence and Japan. Dividend income for unlisted shares will continue to be withheld at the 20% Japanese
National Tax Rate.

FREQUENTLY ASKED QUESTIONS (FAQs)
QUESTION

ANSWER

CAN I SUBMIT A TRUST AGREEMENT IN LIEU OF A
POA SIGNED BY THE BENEFICIAL OWNER?

YES, BUT A LIMITED POA SIGNED BY THE
PARTICIPANT MUST BE ACCOMPANIED BY THE
TRUST AGREEMENT

ARE FORM 6166S WITH IRS CODE RULING 81-100
ACCEPTED?

YES, WITH A TAX DETERMINATION LETTER

DOES THE BENEFICIARIES NAME ON THE FORM
6166 NEED TO MATCH THE POA?

YES, THE BENEFICIARIES NAME ON BOTH
DOCUMENTS SHOULD BE IDENTICAL.

HOW LONG DOES IT TAKE FOR LONG-FORM
CLAIMS TO BE PAID?

WE ESTIMATE IT TAKES UP TO 1 YEAR FOR LONG
FORM CLAIMS TO BE PAID

DOES THE LONG-FORM PROCESS HAVE A
MINIMUM POSITION REQUIRMENT PER
BENEFICIAL OWNER?

YES, PLEASE CALL FOR MORE DETAILS.

DO POAS NEED TO BE NOTARIZED FOR SHORT
FORM CLAIMS?

NO, ONLY POAS SUBMITTED FOR LONG FORM
CLAIMS NEED TO BE NOTARIZED.

WHAT IS THE STATUTE OF LIMITATIONS FOR
FILING JAPANESE RECLAIMS?

IT IS 5 YEARS FROM ORDINARY PAY DATE. CLAIMS
RECEIVED AFTER OUR SUBMISSION DEADLINE
WILL BE FILED ON A BEST EFFORT BASIS.

WHAT IF THE BENEFICIAL OWER NAME AND/OR
ADDRESS IS NOT CONSISTANT WITH THE OTHER
DOCUMENTS?

SEND A LETTER ON PARTICIPANT LETTERHEAD
EXPLAINING THE DISCREPANCY. BE SURE TO
INCLUDE THE TAX ID NUMBER.

Deutsche Bank Trust Company Americas, now offers ESP powered by GlobeTax, an electronic
withholding tax submission system. This system allows for the secure and simplified transfer of
beneficial owner level data from the Participant to Deutsche Bank Trust Company Americas and
creates applicable documentation on the Participants behalf.
Submit the data online through the web site below, print out the document on letterhead, sign, and
mail to Deutsche Bank Trust Company Americas / GlobeTax along with the additional
documentation (necessary for U.S. Pensions, U.K. Pensions, Japanese Residents and Large
Shareholders).
These claims should be submitted through the following web site. (Requires a one-time registration)
https://www.globetaxesp.com
Please contact Jonathan Staake at 212-747-9100 if you have any questions about this process.

CONTACT DETAILS
PRIMARY CONTACT

RITA PATEL

DOMESTIC PHONE (U.S.)

1-800-876-0959

DOMESTIC FAX (U.S.)

1-866-888-1120

INTERNATIONAL PHONE

1-212-747-9100

INTERNATIONAL FAX

1-212-747-0029

EMAIL ADDRESS

RITA_PATEL@GLOBETAX.COM

COMPANY

DEUTSCHE BANK TRUST COMPANY AMERICAS /
GLOBETAX

STREET ADDRESS

90 BROAD STREET, 16TH FLOOR

CITY/STATE/ZIP

NEW YORK, NY 10004

ADDITIONAL CONTACTS

SARAH MARTIN
JONATHAN STAAKE

APPENDIX A – COVER LETTER
(DTC Participant’s Letterhead)
To: Deutsche Bank Trust Company Americas / GlobeTax
90 Broad Street, 16th Floor
New York, New York 10004-2205
Phone: 1-800-876-0959 Fax: 1-866-888-1120

Re: Withholding Certification for

NIPPON EXPRESS CO LTD ; CUSIP# 654563105

I / We the undersigned
(Contact Name)
authorized representative of
(DTC Participant Name)______
holding shares at Cede & Co. under DTC#
(DTC PTS Number)
of NIPPON EXPRESS CO LTD ; CUSIP# 654563105,
the upcoming cash dividend payable to holders as of
September 29, 2011
, receive their entitled tax reclaim.

Name of Beneficiary

Complete Address

Country of
Residence

Tax ID Number

# ADRs

request that

Law of
Establishment
(ERISA, State Law
of , etc.)

*** IF THERE ARE MORE THAN 7 BENEFICIAL HOLDERS, PLEASE CALL THE NUMBER ABOVE AND WE WILL SEND YOU A PREFORMATTED DISK. PLEASE RETURN THE DISK AND THE HARD COPY WITH THE REQUIRED AUTHORIZED SIGNATURES TO THE
ADDRESS ABOVE.
In consideration of the services provided by Deutsche Bank Trust Company Americas contemplated hereby and the assistance provided by the issuer of the shares
underlying the ADRs (the "Issuer"), we agree to indemnify, defend, hold and save Deutsche Bank Trust Company Americas, the Issuer and their respective affiliates,
and the respective directors, offices, agents and employees of Deutsche Bank Trust Company Americas, the Issuer and each of their affiliates from and against any
and all costs, damages or liabilities (including, without limitation, tax payments, interest charges, penalties or other costs assessed by relevant tax and administrative
authorities, and the reasonable fees and disbursements of counsel), and any of them, arising out of or relating to the information provided by the undersigned in, or in
connection with, this document.

Incorrect claims and/or elections could result in fines and/or penalties.
TEL : _________________________________________
Print Name of Signatory
FAX: _________________________________________
Position of Signatory
PLEASE INCLUDE YOUR PHONE AND FAX NUMBER SO THAT WE CAN CONTACT YOU
WITH ANY QUESTIONS THAT WE MIGHT HAVE.

APPENDIX B – POWER OF ATTORNEY

(Pension Fund’s Letterhead)
Power of Attorney
( Name of Pension Fund/IRA = the Undersigned), with address in (City, State, Country) hereby
appoints Deutsche Bank Trust Company Americas (“Bank”) and/or the Bank’s designated standing
proxy(ies) as its true and lawful attorney with full Power of Attorney to do all or any of the following acts
with respect to the American Depository Receipts representing shares in NIPPON EXPRESS CO LTD
(“Securities”) that the Bank holds in its safe custody on behalf of the Undersigned through a Participant
in the Depository Trust Company .
i)

To sign and file required forms with competent tax authorities in order to secure any tax
privileges and benefits such as tax reduction or tax-exemption at source.

ii)

To receive on behalf of the Undersigned tax repayments made by competent tax authorities
as a result of lodging reclaim forms.

iii)

To perform any other act as may be necessary to execute the acts mentioned herein.

The Undersigned also authorizes the Bank and/or the Bank’s designated standing
proxy(ies) to submit this power of attorney or a photocopy of it to competent tax
authorities.
(Name of the Pension Fund/IRA)

_

__________
Place and Date

_

_____
Authorized Signature(s)/Title(s)

In addition, the authorized representative:
Confirms that more than 50% of the beneficiaries, members or participants of the eligible pension
fund were individual residents of the ________ or Japan as of the prior taxable period.

(Name of the Pension Fund/IRA)

_

__________
Place and Date

_

_____
Authorized Signature(s)/Title(s)

APPENDIX C
居
住
者
証
明
書
Certificate of Residence
私は、届出者 ________________________________________________________
が、日本国と_________________________________________________________
との間の 租税条約第_____条第___項____に規定する居住者であることを証明します。
I hereby certify that (the applicant:)____________________________________
is a resident under the provisions of the Income Tax Convention between Japan and the
United Kingdom of Great Britain and Northern Ireland, Article 22, para. 2 (e) .

年月日

____________________________

Date

_______/_________/___________
署 名

____________________________________

Signature

_____________________________________

官 印
Official Stamp

EXHIBIT 1
TREATY ELIGIBLE PENSIONS
COUNTRY OF
PENSION FUND

UNITED STATES

DESCRIPTION

QUALIFYING PLANS

- QUALIFIED PLANS UNDER SECTION 401(A)
- INDIVIDUAL RETIREMENT PLANS (INCLUDING
APPLIES TO A BENEFICIAL OWNER OF THE
THOSE THAT ARE A PART OF A SIMPLIFIED
ADRS THAT:
EMPLOYEE PENSION PLAN THAT SATISFIES 408(K))
1) IS NOT ENGAGED IN A TRADE OR
INDIVIDUAL
RETIREMENT ACCOUNTS, INDIVIDUAL
BUSINESS IN JAPAN THROUGH A PERMANENT
RETIREMENT
ANNUITIES, SECTION 408(P)
ESTABLISHMENT SITUATED IN JAPAN, WITHIN
THE MEANING OF THE U.S. DOUBLE TAXATION ACCOUNTS
TREATY WITH JAPAN
- ROTH IRAS UNDER SECTION 408 A
2) IS A QUALIFYING “PENSION FUND” AS
- SECTION 457 GOVERNMENTAL PLANS
DEFINED ON PAGE 11 OF THE TECHNICAL
- SECTION 403(A) QUALIFIED ANNUITY PLANS
EXPLANATION OF THE NEW TAX TREATY
BETWEEN THE U.S. AND JAPAN, PUBLISHED - SECTION 403(B) PLANS
- SECTION 401(K) PLANS QUALIFY AS PENSION
BY THE U.S. DEPARTMENT OF TREASURY
FUNDS BECAUSE A 401(K) PLAN IS A TYPE OF
3) IS ABLE TO CERTIFY THAT MORE THAN
401(A) PLAN.
50 % OF THE BENEFICIARIES, MEMBERS OR
PARTICIPANTS OF THE ELIGIBLE PENSION
- ANY OTHER FUND IDENTICAL OR SUBSTANTIALLY
FUND WERE INDIVIDUAL RESIDENTS OF THE
SIMILAR TO THE FOREGOING SCHEMES THAT ARE
U.S. OR JAPAN AS OF THE PRIOR TAXABLE
ESTABLISHED PURSUANT TO LEGISLATION
PERIOD.
INTRODUCED AFTER THE DATE OF SIGNATURE OF
THE CONVENTION.

APPLIES TO A BENEFICIAL OWNER OF THE
ADRS THAT:
1) IS NOT ENGAGED IN A TRADE OR BUSINESS
IN JAPAN THROUGH A PERMANENT
ESTABLISHMENT SITUATED IN JAPAN, WITHIN
THE MEANING OF THE U.K. DOUBLE TAXATION
TREATY WITH JAPAN,
2) IS A QUALIFYING “PENSION FUND” AS
DEFINED BY ARTICLE 22, PARAGRAPH 2(E) OF
UNITED KINGDOM THE INCOME TAX CONVENTION BETWEEN
JAPAN AND THE UNITED KINGDOM OF GREAT
BRITAIN AND NORTHERN IRELAND,
PUBLISHED BY THE MINISTRY OF FINANCE
JAPAN
3) IS ABLE TO CERTIFY THAT MORE THAN
50 % OF THE BENEFICIARIES, MEMBERS OR
PARTICIPANTS OF THE ELIGIBLE PENSION
FUND WERE INDIVIDUAL RESIDENTS OF THE
U.K. OR JAPAN AS OF THE PRIOR TAXABLE
PERIOD.
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