Investment risk and commision

Attention
This cover letter is an unofficial translation. The official document is in Japanese. Inspected for Advertising, etc. Content

Notification Items Regarding Advertising etc.
(Notification items pursuant to Article 37 of the Financial Instruments and Exchange Law)

If you decide to enter into a business arrangement with our company based on the information described in materials presented along with this cover letter, we ask you to pay close attention to the following items.

  • In addition to the purchase price of a financial instrument, our company will collect a trading commission for each transaction as agreed beforehand with you. Since commissions may be included in the purchase price or may not be charged for certain transactions, we recommend that you confirm the commission for each transaction. In some cases, our company also may charge a maximum of ¥ 2million (including tax) per year as a standing proxy fee for our deposit of your securities, if you are a non-resident.
  • For derivative and margin transactions etc., our company may require collateral or margin requirements in accordance with an agreement made beforehand with you. Ordinarily in such cases, the amount of the transaction will be in excess of the required collateral or margin requirements.
  • There is a risk that you will incur losses on your transactions due to changes in the market price of financial instruments based on fluctuations in interest rates, exchange rates, stock prices, real estate prices, commodity prices, and others. In addition, depending on the content of the transaction, the loss could exceed the amount of the collateral or margin requirements.
  • There may be a difference between bid price etc. and ask price etc. of OTC derivatives handled by our company.
  • Before engaging in any trading, please thoroughly confirm accounting and tax treatments regarding your trading in financial instruments with such experts as certified public accountants.

The amount of the trading commission cannot be stated here in advance because it will be determined between our company and you based on current market conditions and the content of each transaction etc.

When making an actual transaction, please be sure to carefully read the materials presented to you prior to the execution of agreement, and to take responsibility for your own decisions regarding the signing of the agreement with our company.

Corporate Name :Daiwa Securities Capital Markets Co. Ltd.
The first Financial instruments firm: chief of Kanto Local Finance Bureau (Kin-sho) No.109
Memberships: Japan Securities Dealers Association Financial Futures Association of Japan

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