Deadline for Investor Classification Transition under the Financial Instruments and Exchange Act

Under the Financial Instruments and Exchange Act, customers are classified into "professional investors" and "customers other than professional investors" (hereinafter, "general investors") in order to ensure regulatory flexibility and facilitate transactions while maintaining user protection. If a customer falls under the category of "professional investor," various user protection regulations, such as the obligation to deliver documents prior to the conclusion of a contract, are exempted from application.

Customers may be able to switch their status between "professional investor" and "general investor" at their request by completing required application procedures. The effective period for investor classification transition is set at one year in principle. However, exceptions to this principle have been established, allowing a financial instrument business operator to designate a specific date as the "deadline" for investor classification transition. Thus, in accordance with the amendment of the Financial Instruments and Exchange Act in April 2010, the transition from a professional investor to a general investor remains effective until a request is made to revert to a professional investor, without any specific deadline.

The Company has established the "deadline" based on this exception as follows.

Type of Deadline	Deadline
Deadline for general investors to be deemed professional investors	The first August 31 after the approval date (even if the first August 31 is a holiday) Note that after the transition to a professional investor, it is possible to revert to a general investor at any time by making a request.
Deadline for professional investors to be deemed general investors	No specific deadline The transition remains effective until a request is made to revert to a professional investor.