(a)a stock company; or

(b)a limited liability company; or

(a)a stock company; or

(b)a limited liability company.

(a)they regularly engage in the business subject to investment; or

(b)they engage in the business subject to investment using a highly specialized ability that is indispensable to the continuation of the business subject to investment.

(a)a certified public accountant;

(b)an attorney-at-law (including registered foreign lawyers);

(c)a judicial scrivener;

(d)a land and buildings investigator;

(e)a certified administrative procedures legal specialist;

(f)a certified tax accountant;

(g)a real property appraiser;

(h)a public consultant on social and labor insurance; and

(i)a patent attorney;

(a)the loan is made by a person other than one attending a school established by the incorporated educational institution, etc. (meaning a school as defined in Article 2, paragraph (1) of the Private Educational Institutions Act and including the advanced vocational school and vocational school as defined in paragraph (2) of that Article) that receives the loan or any other person specified by Cabinet Office Order as an interested party (referred to as the "interested party" in (b));

(b)it is not prohibited to transfer the claim associated with the loan to a person other than an interested party;

(a)the loan is made by a person other than a bank or any other person permitted to make that loan on a regular basis pursuant to the provisions of laws and regulations (referred to as a "bank, etc." in (b)); or

(b)it is not prohibited to transfer the claim associated with the loan to a person other than a bank, etc. (including a claim management and collection company as defined in Article 2, paragraph (3) of the Act on Special Measures Concerning Claim Management and Collection Businesses (Act No. 126 of 1998)).

(a)the issuer of those share certificates, etc. is not a person that has already issued share certificates, etc. indicating the same features as those share certificates, etc. (limited to features on the payment of the dividends of surplus, distribution of residual assets, cancellation of equity by using profits, or the cancellation of preferred equity investment under the provisions of Article 15, paragraph (1) of the Act on Preferred Equity Investment (limited to the part related to item (ii)) which are related to shares (including preferred equity investment prescribed in the Act on Preferred Equity Investment and the preferred equity prescribed in the Asset Securitization Act) or contribution) which fall under any of the items of Article 24, paragraph (1) of the Act (including as applied mutatis mutandis pursuant to Article 27 of the Act);

(b)what is specified by Cabinet Office Order as being the same type of securities as those share certificates, etc. are not securities for professional investors (meaning securities for professional investors prescribed in Article 4, paragraph (3) of the Act; the same applies hereinafter); and

(c)the requirements specified in the following clause 1. or 2. in accordance with the category of cases prescribed in that clause 1. or 2. are satisfied:

1.cases in which rights associated with the share certificates, etc. are indicated on financial values which can be transferred by using an electronic data processing system (limited to the value that is recorded on an electronic device or any other object by electronic means; the same applies hereinafter) (excluding the cases specified by Cabinet Office Order; the same applies in Article 1-5-2, paragraph (2), item (i), sub-item (b), 1. and item (ii), sub-item (b), 1., Article 1-7-4, item (i), sub-item (c), 1., Article 1-8-2, item (i), sub-item (b), 1. and (ii), sub-item (b), 1, and Article 15-10-6, item (i)): technical measures have been taken that make it impossible to transfer the financial values to persons other than qualified institutional investors (meaning the qualified institutional investors as defined in Article 2, paragraph (3), item (i) of the Act; the same applies hereinafter);

2.cases other than those set forth in 1. above: the solicitation for acquisition (meaning solicitation for acquisition as defined in Article 2, paragraph (3) of the Act; the same applies hereinafter) is to be conducted or the procedures related to the issuance of securities during a reorganization (meaning the procedures related to the issuance of securities during a reorganization as defined in Article 2-3, paragraph (2) of the Act; the same applies in Article 1-7-3, item (vii) and Article 2-4-2, item (i)) are to be taken that makes the acquisition of the share certificates, etc. conditional upon the conclusion of a contract related to the transfer which provides that the person acquiring the share certificates, etc. will not transfer them to persons other than qualified institutional investors;

(a)the issuer of the share certificates which is to be acquired, subscribed for, or converted through the exercise of the rights indicated on the share option certificates, etc., and the share certificates, share option certificates, and investment equity subscription right certificates satisfy the requirements set forth in sub-item (a) and (b) of the preceding item, respectively;

(b)the issuer of the share option certificates, etc. (excluding share option certificates and investment equity subscription right certificates; hereinafter the same applies in sub-items (b) and (c)) is not a person that has already issued what are specified by Cabinet Office Order as being the same type of securities as those share option certificates, etc. and that fall under any of the items of Article 24, paragraph (1) of the Act (including as applied mutatis mutandis pursuant to Article 27 of the Act);

(c)what are specified by Cabinet Office Order as being the same type of securities as the share option certificates, etc. are not securities for professional investors; and

(d)a restriction has been placed on the share option certificates, etc. (if those share option certificates, etc. are specified corporate bond certificates with preferred equity subscription rights (meaning the specified corporate bond certificates with preferred equity subscription rights prescribed in the Asset Securitization Act; the same applies hereinafter) and the preferred equity subscription rights may be transferred independently from the specified corporate bond certificates (meaning specified corporate bond certificates prescribed in the Asset Securitization Act; the same applies hereinafter), the specified corporate bond certificates and the preferred equity subscription warrants (meaning a preferred equity subscription warrants prescribed in the Asset Securitization Act; the same applies hereinafter) issued with the specified corporate bond certificates, as per the formalities specified by Cabinet Office Order, prohibiting the person that has acquired or purchased the share option certificates, etc. from transferring them to a person other than a qualified institutional investor, or the share option certificates, etc. satisfy the requirements specified by Cabinet Office Order as being equivalent to this;

(a)the issuer of the securities is not a person that has already issued what are specified by Cabinet Office Order as being the same type of securities as the securities and that fall under any of the items of Article 24, paragraph (1) of the Act (including as applied mutatis mutandis pursuant to Article 27 of the Act);

(b)what are specified by Cabinet Office Order as being the same type of securities as the securities are not securities for professional investors; and

(c)the securities meet the requirements specified by Cabinet Office Order in accordance with the preceding item.

(a)what are specified by Cabinet Office Order as being the same type of securities as the share certificates, etc. do not fall under any of the securities set forth in the items of Article 24, paragraph (1) of the Act (including as applied mutatis mutandis pursuant to Article 27 of the Act); and

(b)the requirements specified in the following clause 1. or 2. in accordance with the category of cases set forth in that clause 1. or 2. are satisfied:

1.cases in which rights associated with the share certificates, etc. are indicated on financial values which can be transferred by using an electronic data processing system: technical measures or other measures specified by Cabinet Office Order have been taken that makes it impossible to transfer the financial values to persons other than professional investors, etc. (meaning the professional investors, etc. as defined in Article 2, paragraph (3), item (ii), (b), 2. of the Act; the same applies hereinafter);

2.cases other than those set forth in 1. above: the solicitation for acquisition is conducted on the condition of concluding a contract between the issuer of the share certificates, etc. and the person that seeks to acquire the share certificates, etc. in response to the solicitation for acquisition (hereinafter such a person is referred to as the "acquirer" in this item), as well as between the person that makes the solicitation for acquisition and the acquirer, which provides that the acquirer of the share certificates, etc. will not transfer the acquired share certificates to a person other than professional investors, etc. and which provides other particulars specified by Cabinet Office Order;

(a)the share certificates that are to be acquired, subscribed for, or converted through the exercise of the rights indicated on the share option certificates, etc. satisfy the requirements set forth in sub-item (a) of the preceding item;

(b)the requirements specified in the following clause 1. or 2. in accordance with the category of cases set forth in that clause 1. or 2. are satisfied:

1.cases in which rights associated with the share option certificates, etc. are indicated on financial values which can be transferred by using an electronic data processing system: technical measures or other measures specified by Cabinet Office Order have been taken that makes it impossible to transfer the financial values to persons other than professional investors, etc.;

2.cases other than those set forth in clause 1. above: the solicitation for acquisition is conducted on the condition of concluding a contract for transfer between the issuer of the share option certificates, etc. (if the share option certificates, etc. are specified corporate bond certificates with preferred equity subscription rights and the preferred equity subscription rights may be transferred independently from the specified corporate bond certificate, the specified corporate bond certificate and the preferred equity subscription warrants issued with the bond certificate) and the person that seeks to acquire the share option certificates, etc. in response to the solicitation for acquisition (hereinafter such a person is referred to as the "acquirer" in this item), as well as between the person that makes the solicitation for acquisition and the acquirer, which provides that the acquirer will not transfer the acquired share option certificates, etc. to persons other than professional investors, etc. and which provides other particulars specified by Cabinet Office Order;

(a)share certificates, etc.: all of the following requirements are satisfied:

1.the issuer of the share certificates, etc. is not a person that has already issued share certificates, etc. indicating the same features as those share certificates, etc. (limited to features concerning the payment of the dividends of surplus, distribution of residual assets, cancellation of equity by using profits, or the cancellation of preferred equity investment under Article 15, paragraph (1) of the Act on Preferred Equity Investment (limited to the part that involves item (ii)) which are related to shares (including preferred equity investment prescribed in the Act on Preferred Equity Investment and the preferred equity prescribed in the Asset Securitization Act) or contribution) and that fall under any of the items of Article 24, paragraph (1) (including as applied mutatis mutandis pursuant to Article 27 of the Act); and

2.what are specified by Cabinet Office Order as being the same type of securities as the share certificates, etc. are not securities for professional investors;

(b)share option certificates, etc.: all of the following requirements are satisfied:

1.the issuer of the share certificates that are to be acquired, subscribed for, or converted through the exercise of the rights indicated on the share option certificates, etc., and the share certificates, share option certificates, and investment equity subscription right certificates satisfy the requirements set forth in sub-items (a), 1. and 2., respectively;

2.the issuer of the share option certificates, etc. (excluding share option certificates and investment equity subscription right certificates; hereinafter the same applies in sub-item (b)) is not a person that has already issued what are specified by Cabinet Office Order as being the same type of securities as the share option certificates, etc. and that fall under any of the items of Article 24, paragraph (1) of the Act (including as applied mutatis mutandis pursuant to Article 27 of the Act);

3.what are specified by Cabinet Office Order as being the same type of securities as the share option certificates, etc. are not securities for professional investors; and

4.a restriction has been placed on the share option certificates, etc. (if those share option certificates, etc. are specified corporate bond certificates with preferred equity subscription rights and the preferred equity subscription rights may be transferred independently from the specified corporate bond certificates, the specified corporate bond certificate and the preferred equity subscription warrants issued with the bond certificate), as per the formalities specified by Cabinet Office Order, prohibiting the person that has acquired or purchased the share option certificates, etc. (if the person that has acquired or purchased the share option certificates, etc. is a qualified institutional investor and the share option certificates, etc. fall under the cases specified in Article 1-4, that qualified institutional investor is excluded) from transferring them other than doing so all at once to another single person, or the share option certificates, etc. satisfy the requirements specified by Cabinet Office Order as being equivalent to this;

(c)securities other than the securities set forth in sub-items (a) and (b): all of the following requirements are satisfied:

1.the issuer of the securities is not a person that has already issued what are specified by Cabinet Office Order as being the same type of securities as the securities and that fall under any of the items of Article 24, paragraph (1) of the Act (including as applied mutatis mutandis pursuant to Article 27 of the Act);

2.what are specified by Cabinet Office Order as being the same type of securities as the securities are not securities for professional investors; and

3.the securities meet the requirements specified by Cabinet Office Order in accordance with sub-item (b).

(a)the issuer of the securities with no restriction on transfer;

(b)an officer (meaning a director, executive officer, accounting advisor, and company auditor (including board members, auditors, and persons equivalent to them); hereinafter the same applies in this item) or incorporator of the corporation (including foreign corporations; hereinafter the same applies in this item) that is the issuer of the securities with no restriction on transfer or any other person equivalent to them (excluding the incorporator and any other person equivalent to them, if there was a period during which that person was not the officer, shareholder, or other member of that corporation after its establishment, and that period exceeded five consecutive years);

(c)a major shareholder (meaning a major shareholder as defined in Article 163, paragraph (1) of the Act; hereinafter the same applies in sub-item (c)) of the corporation that is the issuer of the securities with no restriction on transfer or an officer or incorporator of the major shareholder (limited to cases in which the major shareholder is a corporation) or any other person equivalent to them (excluding the incorporator and any other person equivalent to them, if there was a period during which that person was not the officer, shareholder, or other member of the corporation that constitutes that major shareholder after its establishment, and that period exceeded five consecutive years);

(d)a subsidiary company, etc. of the corporation that is the issuer of the securities with no restriction on transfer (meaning a subsidiary company prescribed in Article 29-4, paragraph (4) of the Act or any other corporation equivalent to the company; hereinafter the same applies in sub-item (d)), or an officer or incorporator of that subsidiary company, etc. or any other person equivalent to them (excluding the incorporator and any other person equivalent to them, if there was a period during which that person was not the officer, shareholder, or other member of that subsidiary company, etc. after its establishment, and that period exceeded five consecutive years); or

(e)a financial instruments business operator, etc.;

(a)the issuer of the share certificates, etc. is not a person that has already issued share certificates, etc. indicating the same features as those share certificates, etc. (limited to features concerning the payment of the dividends of surplus, distribution of residual assets, cancellation of equity by using profits, or the cancellation of preferred equity investment under Article 15, paragraph (1) of the Act on Preferred Equity Investment (limited to the part that involves item (ii)) which are related to shares (including preferred equity investment provided for in the Act on Preferred Equity Investment and the preferred equity provided for in the Asset Securitization Act) or contribution) and which fall under any of the items of Article 24, paragraph (1) (including as applied mutatis mutandis pursuant to Article 27 of the Act);

(b)what are specified by Cabinet Office Order as being the same type of securities as the share certificates, etc. are not securities for professional investors; and

(c)the requirements specified in the following clause 1. or 2. in accordance with the category of cases set forth in that clause 1. or 2. are satisfied:

1.cases in which rights associated with the share certificates, etc. are indicated on financial values which can be transferred by using an electronic data processing system: technical measures have been taken that make it impossible to transfer the financial values to persons other than qualified institutional investors;

2.cases other than those set forth in clause 1. above: the offer to sell, etc. is to be made or procedures related to the delivery of securities during a reorganization are to be taken that makes the acquisition of the share certificates, etc. conditional upon the conclusion of a contract related to the transfer which provides that the person acquiring the share certificates, etc. will not transfer them to persons other than qualified institutional investors;

(a)the issuer of the share certificates that are to be acquired, subscribed for, or converted through the exercise of the rights indicated on the share option certificates, etc., and the share certificates, share option certificates, and investment equity subscription right certificates satisfy the requirements set forth in (a) and (b) of the preceding item, respectively;

(b)the issuer of the share option certificates, etc. (excluding share option certificates and investment equity subscription right certificates; hereinafter the same applies in sub-items (b) and (c)) is not a person that has already issued what are specified by Cabinet Office Order as being the same type of securities as the share option certificates, etc. and that fall under any of the items of Article 24, paragraph (1) of the Act (including as applied mutatis mutandis pursuant to Article 27 of the Act);

(c)what are specified by Cabinet Office Order as being the same type of securities as the share option certificates, etc. are not securities for professional investors; and

(d)a restriction has been placed on the share option certificates, etc. (if those share option certificates, etc. are specified corporate bond certificates with preferred equity subscription rights and the preferred equity subscription rights may be transferred independently from the specified corporate bond certificates, the specified corporate bond certificates and the preferred equity subscription warrants issued with the bond certificates), as per the formalities specified by Cabinet Office Order, prohibiting the person that has acquired or purchased the share option certificates, etc. from transferring them to a person other than a qualified institutional investor, or the share option certificates, etc. satisfy the requirements specified by Cabinet Office Order as being equivalent to this;

(a)the issuer of the securities is not a person that has already issued what are specified by Cabinet Office Order as being the same type of securities as the securities which fall under any of the items of Article 24, paragraph (1) of the Act (including as applied mutatis mutandis pursuant to Article 27 of the Act);

(b)what are specified by Cabinet Office Order as being the same type of securities as the securities are not securities for professional investors; and

(c)the securities meet the requirements specified by Cabinet Office Order in accordance with the preceding item.

(a)what are specified by Cabinet Office Order as being the same type of securities as the share certificates, etc. do not fall under the securities set forth in the items of Article 24, paragraph (1) of the Act (including as applied mutatis mutandis pursuant to Article 27 of the Act); and

(b)the requirements specified in the following clause 1. or 2. in accordance with the category of cases set forth that clause 1. or 2. are satisfied:

1.cases in which rights associated with the share certificates, etc. are indicated on financial values which can be transferred by using an electronic data processing system: technical measures or other measures specified by Cabinet Office Order have been taken that make it impossible to transfer the financial values to persons other than professional investors, etc.;

2.cases other than those set forth in clause 1. above: the offer to sell, etc. is made in a way that makes the purchase of the share certificates, etc. conditional upon the conclusion of a contract related to the transfer between the person making the offer to sell, etc. the share certificates, etc. and the person seeking to purchase those share certificates, etc. in response to the offer to sell, etc. them (hereinafter such a person is referred to as the "purchaser" in this item) which provides that the purchaser will not transfer the purchased share certificates, etc. to persons other than professional investors, etc., and which provides other particulars specified by Cabinet Office Order;

(a)the share certificates that are to be acquired, subscribed for, or converted through the exercise of the rights indicated on the share option certificates, etc. satisfy the requirements set forth in sub-item (a) of the preceding item; and

(b)the requirements specified in the following clause 1. or 2. in accordance with the category of cases set forth in that clause 1. or 2. are satisfied:

1.cases in which rights associated with the share option certificates, etc. are indicated on financial values which can be transferred by using an electronic data processing system: technical measures or other measures specified by Cabinet Office Order have been taken that make it impossible to transfer the financial values to persons other than professional investors, etc.;

2.cases other than those set forth in clause 1. above: the offer to sell, etc. is made that makes the purchase of the share option certificates, etc. conditional upon the conclusion of a contract related to the transfer between the person making the offer to sell, etc. the share option certificates, etc. (or, if the share option certificates, etc. are specified corporate bond certificates with preferred equity subscription rights and the preferred equity subscription rights may be transferred independently from the specified corporate bond certificates, the specified corporate bond certificate and the preferred equity subscription warrants issued with the bond certificate) and the person seeking to purchase those share option certificates, etc. in response to the offer to sell, etc. them (hereinafter such a person is referred to as the "purchaser" in this item) which provides that the purchaser will not transfer the purchased share option certificates, etc. to persons other than professional investors, etc., and which provides other particulars specified by Cabinet Office Order; and

(a)share certificates, etc.: all of the following requirements are satisfied:

1.the issuer of the share certificates, etc. is not a person that has already issued share certificates, etc. indicating the same features as those share certificates, etc. (limited to features concerning the payment of the dividends of surplus, distribution of residual assets, cancellation of equity by using profits, or the cancellation of preferred equity investment under Article 15, paragraph (1) of the Act on Preferred Equity Investment (limited to the part that involves item (ii)) which are related to shares (including preferred equity investment prescribed in the Act on Preferred Equity Investment and the preferred equity prescribed in the Asset Securitization Act) or contribution) which fall under any of the items of Article 24, paragraph (1) (including as applied mutatis mutandis pursuant to Article 27 of the Act);

2.what is specified by Cabinet Office Order as being the same type of securities as those share certificates, etc. are not securities for professional investors;

(b)share option certificates, etc.: all of the following requirements are satisfied:

1.the issuer of the share certificates that are to be acquired, subscribed for, or converted through the exercise of the rights indicated on the share option certificates, etc., and the share certificates, share option certificates, and investment equity subscription right certificates satisfy the requirements set forth in sub-item (a), 1. and 2., respectively;

2.the issuer of the share option certificates, etc. (excluding share option certificates and investment equity subscription right certificates; hereinafter the same applies in sub-item (b)) is not a person that has already issued what are specified by Cabinet Office Order as being the same type of securities as those share option certificates, etc. and that fall under any of the items of Article 24, paragraph (1) of the Act (including as applied mutatis mutandis pursuant to Article 27 of the Act);

3.what are specified by Cabinet Office Order as being the same type of securities as the share option certificates, etc. are not securities for professional investors; and

4.a restriction has been placed on the share option certificates, etc. (if those share option certificates, etc. are specified corporate bond certificates with preferred equity subscription rights and the preferred equity subscription rights may be transferred independently from the specified corporate bond certificates, the specified corporate bond certificate and the preferred equity subscription warrants issued with the bond certificate), as per the formalities specified by Cabinet Office Order, prohibiting the person that has acquired or purchased the share option certificates, etc. (if the person that has acquired or purchased the share option certificates, etc. is a qualified institutional investor and the share option certificates, etc. fall under the cases specified in Article 1-4, that qualified institutional investor is excluded) from transferring the share option certificates, etc. unless they are transferred all at once to another single person, or those share option certificates, etc. satisfy the requirements specified by Cabinet Office Order as being equivalent to this;

(c)securities other than the securities set forth in sub-items (a) and (b): a case that meets all of the following requirements:

1.the issuer of the securities is not a person that has already issued what are specified by Cabinet Office Order as being the same type of securities as those securities and that fall under any of the items of Article 24, paragraph (1) of the Act (including as applied mutatis mutandis pursuant to Article 27 of the Act);

2.what are specified by Cabinet Office Order as being the same type of securities as the securities are not securities for professional investors; and

3.the securities meet the requirements specified by Cabinet Office Order in accordance with (b);

(a)it has been established that, if a financial instruments business operator, etc. (limited to a member of an authorized financial instruments firms association) has made a offer to sell, etc. foreign securities with no restriction on transfer, the issues of the foreign securities with no restriction on transfer, the number calculated according to the provisions of Cabinet Office Order as the number of persons that has acquired and currently hold those foreign securities with no restriction on transfer through the offer to sell, etc. (hereinafter referred to as "number of holders" in this item) and other particulars specified by Cabinet Office Order will be reported to the authorized financial instruments firms association pursuant to the rules of the authorized financial instruments firms association;

(b)it has been established that an authorized financial instruments firms association that receives a report prescribed in sub-item (a) is to calculate and publicize the total number of holders for each issue of foreign securities with no restriction on transfer, pursuant to the rules of the authorized financial instruments firms association;

(c)the total number of holders for each issue of foreign securities with no restriction on transfer referred to in sub-item (a) is not to exceed one thousand.

(a)the State;

(b)a local government;

(c)the Bank of Japan; and

(d)foreign governments and other persons equivalent to the persons set forth in sub-items (a) through (c) under foreign laws and regulations;

(a)persons specified by Cabinet Office Order as persons found to have expert knowledge of and experience in derivatives transactions; or

(b)a stock company whose amount of stated capital is not less than the amount specified by Cabinet Office Order;

(a)it has been provided for in either the commodities investment contract (meaning a commodities investment contract as defined in Article 2, paragraph (5) of the Act on Regulation of Commodity Investment) or the trust contract that is associated with the beneficial interest in commodities investment, or in the contract for sale of the beneficial interest in commodities investment that specified investment in the relevant corporation is to be undertaken and that the relevant corporation is to invest money or other property from that specified investment through commodities investment (meaning commodities investment as defined in Article 2, paragraph (1) of that Act; the same applies hereinafter);

(b)the corporation is required to entrust the commodities investment advisor, etc. prescribed in Article 33, paragraph (1) of that Act on Regulation of Commodity Investment with an investment decision prescribed in Article 2, paragraph (2) of that Act related to commodities investment; and

(c)the investment is not the one in which the corporation invests money or other property from specified investment mainly in securities or rights connected with derivatives transactions; and

(a)the securities set forth in Article 2, paragraph (1), item (xiv) of the Act;

(b)the securities set forth in Article 2, paragraph (1), item (xvii) of the Act, which have the nature of the securities set forth in Article 2, paragraph (1), item (xiv) of the Act;

(c)the rights to be indicated on the securities set forth in sub-items (a) or (b), which are deemed to be securities pursuant to the provisions of Article 2, paragraph (2) of the Act; and

(d)the rights set forth in Article 2, paragraph (2), item (i) or (ii) of the Act, which are deemed to be securities pursuant to the provisions of Article 2, paragraph (2) of that Act;

(a)the securities set forth in Article 2, paragraph (8), item (vii), sub-item (a) or (b) of the Act;

(b)the rights required to be indicated on the securities set forth in sub-item (a) which are deemed to be securities pursuant to the provisions of Article 2, paragraph (2) of the Act; and

(a)share certificates, etc.: the requirements set forth in Article 1-7, item (ii), (a) are satisfied;

(b)share option certificates, etc.: the requirements set forth in Article 1-7, item (ii), (b) are satisfied.

(a)share certificates, etc.: the requirements set forth in Article 1-8-4, item (iii), sub-item (a) are satisfied;

(b)share option certificates, etc.: the requirements set forth in Article 1-8-4, item (iii), sub-item (b) are satisfied;

(c)securities other than the securities set forth in sub-items (a) and (b): the requirements set forth in Article 1-8-4, item (iii), (c) are satisfied.

(a)the specified corporation does not invest in securities by allocating an amount exceeding 50 percent of the total amount of money or other property from specified investment; and

(b)the specified corporation is prohibited from receiving contribution from two or more persons by laws and regulations, the articles of incorporation of the specified corporation, articles of endowment, or other things equivalent to them;

(a)the person that is to receive the specified investment in kind is prohibited from receiving contribution from two or more persons by laws and regulations, the articles of incorporation of the person that is to receive the specified investment in kind, articles of endowment, other things equivalent to them, or the contract for specified investment in kind; and

(b)the contract for specified investment in kind provides that the person that is to receive the specified investment in kind will not acquire securities using the goods associated with the specified investment in kind.

(a)the beneficial interest in a trust prescribed in Article 130-2, paragraph (2) of the Employees' Pension Insurance Act (Act No. 115 of 1954) prior to the amendment pursuant to Article 1 of the Act for Partial Amendment to the Employees' Pension Insurance Act to Ensure the Soundness and Reliability of the Public Pension System (Act No. 63 of 2013; hereinafter referred to as the "2013 Employees' Pension Amendment Act" in sub-item (a)) (the Employees' Pension Insurance Act prior to the amendment is referred to as the "former Employees' Pension Insurance Act" in (a)) as applied mutatis mutandis pursuant to Article 130-2, paragraphs (1) and (2), Article 136-3, paragraph (1), item (i), item (iv), (d) of that paragraph and item (v), (f) of that paragraph, and paragraph (2) of that Article of the former Employees' Pension Insurance Act which remain in force pursuant to the provisions of Article 5, paragraph (1) of the Supplementary Provisions of the 2013 Employees' Pension Amendment Act; and the beneficial interest in a trust prescribed in Article 159-2, paragraphs (1) and (2) of the former Employees' Pension Insurance Act, Article 136-3, paragraph (1), item (i), item (iv), (d) of that paragraph and item (v), (f) of that paragraph of the former Employees' Pension Insurance Act as applied mutatis mutandis pursuant to Article 164, paragraph (3) of that Act, and Article 130-2, paragraph (2) of the former Employees' Pension Insurance Act as applied mutatis mutandis pursuant to Article 136-3, paragraph (2) of that Act as applied mutatis mutandis pursuant to Article 164, paragraph (3) of that Act which remain in force pursuant to the provisions of Article 38, paragraph (1) of the Supplementary Provisions of the 2013 Employees' Pension Amendment Act;

(b)the beneficial interest in a trust prescribed in Article 128, paragraph (3) and Article 137-15, paragraph (4) of the National Pension Act (Act No. 141 of 1959);

(c)the beneficial interest in a trust prescribed in Article 30, paragraph (1), item (i), item (iv), sub-item (d), item (v), sub-item (f), and paragraph (2) of the Order for Enforcement of the National Pension Act (Cabinet Order No. 304 of 1990) (including as applied mutatis mutandis pursuant to Article 51, paragraph (1) of that Order);

(d)the beneficial interest in a trust connected with a qualified retirement pension contract (limited to a trust contract) prescribed in Article 20, paragraph (3) of the Supplementary Provisions of the Corporation Tax Act (Act No. 34 of 1965);

(e)the beneficial interest in a trust connected with asset management contracts prescribed in Article 65, paragraph (3) of the Defined-Benefit Corporate Pension Act (Act No. 50 of 2001) (limited to a trust contract set forth in Article 65, paragraph (1), item (i) of that Act), a trust contract set forth in Article 65, paragraph (1), item (i) of that Act concluded under Article 66, paragraph (1) of that Act (including as applied mutatis mutandis pursuant to Article 91-25 of that Act) and a trust contract prescribed in Article 66, paragraph (2) of that Act (including as applied mutatis mutandis pursuant to Article 91-24 of that Act);

(f)the beneficial interest in a trust connected with an asset management contract prescribed in Article 8, paragraph (2) of the Defined Contribution Pension Act (Act No. 88 of 2001) (limited to the trust contract set forth in paragraph (1), item (i) of that Article);

(g)the beneficial interest in a trust prescribed in Article 21, paragraph (1), item (iii) of the Act on the Government Pension Investment Fund (Act No. 105 of 2004);

(h)the beneficial interest in a trust connected with a protective trust contract concluded pursuant to the provisions of Article 51, paragraph (1) of the Act on Book-Entry Transfer of Corporate Bonds and Shares (Act No. 75 of 2001);

(i)the beneficial interest in a trust prescribed in Article 43-2, paragraph (2) of the Act and other beneficial interest in a trust specified by Cabinet Office Order as being similar to the beneficial interest;

(j)the beneficial interest in a trust prescribed in Article 6-2, paragraph (1) and Article 6-3, paragraph (2) of the Workers' Property Accumulation Promotion Act (Act No, 92 of 1971);

(k)the beneficial interest in a trust which falls under a beneficial interest in commodities investment as defined in Article 2, paragraph (6) of the Act on Regulation of Commodity Investment, if rights set forth in Article 2, paragraph (2), item (v) of the Act (limited to cases in which the business subject to investment prescribed in that item that is associated with those rights is conducted through commodities investment or contribution in a single corporation (hereinafter referred to as a "specified corporation" in this item) (hereinafter the contribution is referred to as "specified investment" in this item and paragraph (3)) which satisfies all of the following requirements) or rights set forth in Article 2, paragraph (2), item (vi) of the Act equivalent to the rights are acquired by allocating all of the trust property in that trust:

1.the business is not one in which the specified corporation invests in securities by allocating an amount exceeding 50 percent of the total amount of money or other property from specified investment; and

2.the specified corporation is prohibited from receiving contribution from two or more persons by laws and regulations, the articles of incorporation of the specified corporation, articles of endowment, or any other thing equivalent to them;

(a)any person can easily obtain information on the trading price of the foreign national government bonds in Japan by using the internet or by other means;

(b)purchase and sale of the foreign national government bonds or other foreign national government bonds issued by their issuer are ongoing in a foreign country;

(c)financial information on the issuer of the foreign national government bonds and other information on the issuer (limited to information stated in Japanese or English) has been made public by the issuer or other person equivalent to them, and any person can easily obtain that information in Japan by using the internet or by any other means (excluding cases in which the issuer has submitted an annual securities report pursuant to the provisions of Article 24, paragraph (1) of the Act as applied mutatis mutandis pursuant to Article 27 of the Act);

(a)any person can easily obtain information on the trading price of those foreign municipal bonds in Japan by using the internet or by other means;

(b)purchase and sale of the foreign municipal bonds or other foreign municipal bonds that issued by their issuer are ongoing in a foreign country;

(c)financial information on the issuer of the foreign municipal bonds and other information on the issuer (limited to information stated in Japanese or English) has been made public by the issuer or any other person equivalent to them, and any person can easily obtain that information in Japan by using the internet or by other means (excluding cases in which the issuer has submitted an annual securities report pursuant to the provisions of Article 24, paragraph (1) of the Act as applied mutatis mutandis pursuant to Article 27 of the Act);

(a)any person can easily obtain information on the trading price of the foreign public corporate bonds in Japan by using the internet or by any other means;

(b)purchase and sale of the foreign public corporate bonds or of other foreign public corporate bonds issued by their issuer are ongoing in a foreign country;

(c)information about the accounting of the issuer of the foreign public corporate bonds and other information about the issuer (limited to information stated in Japanese or English, and for the information about the accounting of the issuer, limited to information prepared according to criteria found to be appropriate by the Commissioner of the Financial Services Agency for the public interest or protection of investors; the same applies in sub-item (d) of the following item and item (vi), sub-item (c)) is made public by the issuer or other person equivalent to them, and any person can easily obtain that information in Japan by using the internet or by other means (excluding cases in which the issuer has submitted an annual securities report pursuant to the provisions of Article 24, paragraph (1) of the Act (including as applied mutatis mutandis pursuant to Article 27 of the Act));

(a)any person can easily obtain information on the trading price of the convertible corporate bond certificates issued overseas in Japan by using the internet or by other means;

(b)the convertible corporate bond certificates issued overseas are listed on a financial instruments exchange in a foreign country (meaning an exchange similar to a financial instruments exchange, which is established under foreign laws and regulations; the same applies in Article 12, item (vii) and Article 14-3-7, item (ii)) which is designated by the Commissioner of the Financial Services Agency taking into account the state of the securities listed, the disclosure of information on the issuer, the trading volume, and other circumstances (hereinafter referred to as "designated foreign financial instruments exchange"), or purchase and sale of the convertible corporate bond certificates issued overseas are ongoing in a foreign country;

(c)share certificates that will be converted if certain predetermined conditions are met or securities set forth in Article 2, paragraph (1), item (xvii) of the Act which have the nature of share certificates (hereinafter referred to as "share certificates" in this Article) are listed on a financial instruments exchange or a designated foreign financial instruments exchange;

(d)if the convertible corporate bond certificates issued overseas or share certificates of the issuer of the convertible corporate bond certificates issued overseas are listed on the designated foreign financial instruments exchange, based on the rules provided by a designated foreign financial instruments exchange and in other cases based on foreign laws and regulations in which purchase and sale of the convertible corporate bond certificates issued overseas are ongoing (including rules of international organizations similar to them; hereinafter the same applies in this Article), accounting information about the issuer of the convertible corporate bond certificates issued overseas and other information about the issuer is publicized by the issuer, and any person can easily obtain that information in Japan by using the internet or by other means (excluding cases in which the issuer has submitted an annual securities report pursuant to the provisions of Article 24, paragraph (1) of the Act (including as applied mutatis mutandis pursuant to Article 27 of the Act));

(a)any person can easily obtain information on the trading price of those bond certificates with share options issued overseas in Japan by using the internet or by other means;

(b)the bond certificates with share options issued overseas are listed on a designated foreign financial instruments exchange, or purchase and sale of the bond certificates with share options issued overseas are ongoing in a foreign country;

(c)the share certificates that are to be acquired, subscribed for, or converted through the exercise of the rights indicated on the bond certificates with share options issued overseas are listed on a designated foreign financial instruments exchange;

(d)based on the rules established by the designated foreign financial instruments exchange on which the bond certificates with share options issued overseas or share certificates prescribed in sub-item (c) are listed, accounting information for the issuer of the bond certificates with share options issued overseas and other information on the issuer (limited to information stated in Japanese or English) has been publicized by the issuer, and any person can easily obtain that information in Japan by using the internet or by other means (excluding cases in which the issuer has submitted an annual securities report pursuant to the provisions of Article 24, paragraph (1) of the Act (including as applied mutatis mutandis pursuant to Article 27 of the Act));

(a)any person can easily obtain information on the trading price of those bond certificates issued overseas in Japan by using the internet or by other means;

(b)the bond certificates issued overseas are listed on a designated foreign financial instruments exchange, or purchase and sale of the bond certificates issued overseas are ongoing in a foreign country (excluding cases in which a company that holds, in its own name or in another person's name, the majority of the voting rights held by all the shareholders, etc. (meaning voting rights held by all the shareholders, etc. as defined in Article 29-4, paragraph (2) of the Act; the same applies hereinafter) of the issuer of the bond certificates issued overseas (limited to the issuer of share certificates that are listed on a financial instruments exchange or a designated foreign financial instruments exchange; hereinafter referred to as "parent company" in this item) guarantees the redemption of the principal and the payment of interest of the bond certificates issued overseas);

(c)based on the rules established by the designated foreign financial instruments exchange on which the bond certificates issued overseas are listed, if they are listed on a designated foreign financial instruments exchange, or based on foreign laws and regulations in which purchase and sale of the bond certificates issued overseas are ongoing, in other cases, information about the accounting of the issuer of the bond certificates issued overseas and other information on the issuer (in the case provided in the parentheses in sub-item (b), if the parent company has submitted an annual securities report pursuant to the provisions of Article 24, paragraph (1) of the Act (including as applied mutatis mutandis pursuant to Article 27 of the Act), or if information about the accounting of the parent company or other information about the parent company (limited to information stated in Japanese or English) has been publicized by the parent company pursuant to the rules established by the designated foreign financial instruments exchange on which the share certificates of the parent company are listed, and any person can easily obtain that information in Japan by using the internet or by other means, the fact that a guarantee has been received for the bond certificates issued overseas, the name of the parent company providing the guarantee, the content of the business of the issuer, and other information specified by Cabinet Office Order) has been publicized by the issuer, and that information can easily be obtained in Japan using the internet or by any other means (excluding cases in which the issuer has submitted an annual securities report pursuant to the provisions of that paragraph (including as applied mutatis mutandis pursuant to Article 27 of the Act));

(a)any person can easily obtain information on the trading price of those share certificates issued overseas in Japan by using the internet or by other means;

(b)the share certificates issued overseas are listed on a designated foreign financial instruments exchange;

(c)based on the rules established by the designated foreign financial instruments exchange on which the share certificates issued overseas are listed, information about the accounting of the issuer of the share certificates issued overseas and other information about the issuer (limited to information stated in Japanese or English) has been made public by the issuer, and any person can easily obtain that information in Japan by using the internet or by any other means (excluding cases in which the issuer has submitted an annual securities report pursuant to the provisions of Article 24, paragraph (1) of the Act (including as applied mutatis mutandis pursuant to Article 27 of the Act));

(a)any person can easily obtain information on the trading price of the foreign-issued beneficiary certificates or foreign-issued investment securities (hereinafter referred to as "the foreign-issued beneficiary certificates or investment securities" in this item) in Japan by using the internet or by other means;

(b)the foreign-issued beneficiary certificates or investment securities are listed on a designated foreign financial instruments exchange;

(c)based on the rules established by the designated foreign financial instruments exchange on which the foreign-issued beneficiary certificates or investment securities are listed, information on the foreign-issued beneficiary certificates or investment securities (limited to information stated in Japanese or English) has been publicized by the issuer of the foreign-issued beneficiary certificates or investment securities, and any person can easily obtain that information in Japan by using the internet or by other means (excluding cases in which the issuer has submitted an annual securities report pursuant to the provisions of Article 24, paragraph (1) of the Act applied mutatis mutandis pursuant to paragraph (5) of that Article (including as applied mutatis mutandis pursuant to Article 27 of the Act));

(a)the securities indicating rights indicate the rights associated with transactions set forth in Article 2, paragraph (22), item (iii) or (iv) related to share certificates, etc. (meaning share certificates, securities set forth in Article 2, paragraph (1), item (xi) of the Act (excluding investment corporation bond certificates and foreign investment securities similar to investment corporation bond certificates prescribed in the Act on Investment Trusts and Investment Corporations, as well as investment equity subscription right certificates, etc.; hereinafter referred to as "investment securities" in sub-item (a)) and securities set forth in item (xx) of that paragraph which indicate rights associated with share certificates or investment securities; hereinafter the same applies in sub-item (a)) or corporate bond certificates, etc. (meaning corporate bond certificates and securities set forth in item (xvii) of that paragraph which have the nature of corporate bond certificates; hereinafter the same applies in sub-item (a)) which satisfy all of the following requirements:

1.the share certificates, etc. or corporate bond certificates, etc. are listed on a financial instruments exchange or a designated foreign financial instruments exchange, or purchase and sale of the corporate bond certificates, etc. are ongoing in a foreign country;

2.based on the rules established by the designated foreign financial instruments exchange on which the share certificates, etc. or the corporate bond certificates, etc. are listed, or based on foreing laws and regulations in which purchase and sale of the corporate bond certificates, etc. are ongoing, information about the accounting of the issuer of the share certificates, etc. or the corporate bond certificates, etc. and other information about the issuer (limited to information stated in Japanese or English) has been publicized by the issuer, and any person can easily obtain that information in Japan by using the internet or by other means (excluding cases in which the issuer has submitted an annual securities report pursuant to the provisions of Article 24, paragraph (1) of the Act (including as applied mutatis mutandis pursuant to Article 27 of the Act));

(b)it is agreed upon in advance that by the exercise of rights indicated on the securities indicating rights, the transaction connected with those rights will be executed at a fixed time in the future, and that the parties will make settlements by delivering and taking delivery of the difference in values for the transaction;

(c)any person can easily obtain information on the trading price of those securities indicating rights in Japan by using the internet or by other means;

(a)the securities indicate the rights associated with the share certificates;

(b)any person can easily obtain information on the trading price of the securities in Japan by using the internet or by other means;

(c)the securities are listed on a designated foreign financial instruments exchange;

(d)based on the rules established by the designated foreign financial instruments exchange on which the securities are listed, information about the accounting of the issuer of the securities and other information about the issuer (limited to information stated in Japanese or English) has been publicized by the issuer, and any person can easily obtain that information in Japan by using the internet or by other means (excluding cases in which the issuer has submitted an annual securities report pursuant to the provisions of Article 24, paragraph (1) of the Act (including as applied mutatis mutandis pursuant to Article 27 of the Act)).

(a)the securities set forth in Article 2, paragraph (1), item (ix) of the Act;

(b)the securities set forth in Article 2, paragraph (1), item (xi) of the Act, which are investment securities, etc. or investment equity subscription right certificates, etc.;

(c)the securities set forth in Article 2, paragraph (1), item (xvii) of the Act which have the nature of the securities set forth in item (ix) of that paragraph;

(d)the securities set forth in Article 2, paragraph (1), item (xx) of the Act that indicate rights associated with the securities set forth in sub-item (a), (b) or (c); or

(e)certificates of a beneficial interest in a securities trust of which the entrusted securities are the securities set forth in sub-item (a), (b) or (c).

(a)contracts providing that the share certificates, etc. are to be provided as a collateral;

(b)contracts providing that the share certificates, etc. are to be resold;

(c)a unilateral option contract for a purchase and sale (limited to cases in which the person in question holds the right to complete the purchase and sale and acquires the position of seller through the exercise of that right);

(d)contracts for lending and borrowing; and

(e)contracts equivalent to the contracts set forth in sub-items (a) through (d); and

(a)an investment corporation (meaning an investment corporation as defined in Article 2, paragraph (12) of the Act on Investment Trusts and Investment Corporations; hereinafter the same applies in this item and Article 14-17, item (vi)) which provides in its bylaws that it is to invest an amount exceeding 50 percent of the total amount of its assets in real property or other assets specified by Cabinet Office Order;

(b)one specified by Cabinet Office Order as an investment corporation in which the sum of the value of the assets specified by Cabinet Office Order that is provided for in sub-item (a), accounts for more than 50 percent of the total amount of its assets; or

(c)a foreign investment corporation that is similar to an investment corporation set forth in sub-item (a) or (b).

(a)a person that jointly holds subject voting rights with that person, or that has agreed to jointly exercise subject voting rights with that person (referred to as a "joint holder" in paragraph (3));

(b)the person's spouse;

(c)the person's controlled company;

(d)the person's controlling shareholder, etc.; and

(e)another controlled company of the person's controlling shareholder, etc.;

(a)a company, etc. (including the subsidiary company, etc. and affiliated company, etc. of the company, etc.) in which that specified individual shareholder holds voting rights exceeding 50 percent of the voting rights held by all the shareholders, etc.; and

(b)a company, etc. in which that specified individual shareholder holds voting rights that saccount for not less than 20 percent but not more than 50 percent of the voting rights held by all the shareholders, etc.

(a)the fact that the amount of the derivatives transaction, etc. may exceed the amount of security deposit, etc.; and

(b)the ratio of the amount of the derivatives transaction, etc. to the amount of security deposit, etc. (if that ratio cannot be calculated, that fact and the reason);

(a)the indicator in question; and

(b)the fact that there is a risk of losses arising from fluctuations in that indicator and the reasons for this;

(a)the indicator referred to in the preceding item, which is the direct cause for the risk of loss in excess of principal; and

(b)the fact that there is a risk of loss in excess of principal due to fluctuations in the indicator set forth in sub-item (a) and the reason for this;

(a)financial instruments business;

(b)banking business as defined in Article 2, paragraph (2) of the Banking Act (Act No. 59 of 1981); and

(c)insurance business as defined in Article 2, paragraph (1) of the Insurance Business Act.

(a)a transaction comprising a purchase and sale in which the parties to the purchase and sale promise to deliver and take delivery of a financial instrument (limited to those set forth in Article 2, paragraph (24), item (ii) or (iii) of the Act; hereinafter the same applies in this item) and its value at a fixed time in the future, and which the parties may settle by delivering and taking delivery of the difference in values if they sell back or buy back the underlying financial instrument or if they take an act that cancels the purchase and sale contract;

(b)a transaction comprising the parties' promises to pay and receive an amount of money calculated based on the difference between the numerical value of a financial index upon which the parties agree in advance (limited to the prices of the financial instruments or the interest rates, etc. (meaning the interest rate, etc. as defined in Article 2, paragraph (21), item (iv) of the Act; the same applies hereinafter) of the financial instruments (excluding those set forth in Article 2, paragraph (24), item (iii) of the Act) or the figures calculated based on the interest rates, etc.; the same applies in sub-item (b)) and the actual numerical value of the financial index at a fixed time in the future, or any other similar transactions;

(c)a transaction comprising the first party's promise to grant the second party the right to close one of the following transactions between them by a unilateral manifestation of the second party's intention, and the second party's promise to pay the value of that right; or any other similar transaction:

1.a purchase and sale of financial instruments (excluding the transactions set forth in sub-item (a)); and

2.a transaction set forth in sub-item (a) or (b);

(d)cryptoasset-related over-the-counter derivatives transactions; and

(a)a transaction comprising a purchase and sale in which the parties to the purchase and sale promise to deliver and take delivery of a financial instrument (limited to those set forth in Article 2, paragraph (24), item (ii) or (iii) of the Act or those set forth in Article 2, paragraph (24), item (v) of the Act (limited to those related those set forth in Article 2, paragraph (24), item (ii) of the Act); hereinafter the same applies in this item) and its value at a fixed time in the future, and which the parties may settle by delivering and taking delivery of the difference in values if they sell back or buy back the underlying financial instrument;

(b)a transaction comprising the parties' promises to pay and receive an amount of money calculated based on the difference between the numerical value of a financial index upon which the parties agree in advance (limited to the prices of the financial instruments or the interest rates, etc. of the financial instruments (excluding those set forth in Article 2, paragraph (24), item (iii) of the Act) or the figures calculated based on the interest rates, etc.; the same applies insub-item (b)) and the actual numerical value of the financial index at a fixed time in the future;

(c)a transaction comprising the first party's promise to grant the second party the right to close one of the following transactions between them by a unilateral manifestation of the second party's intention, and the second party's promise to pay the value of that right:

1.a purchase and sale of financial instruments (excluding the transaction set forth in sub-item (a)); and

2.a transaction set forth insub-item (a) or (b) (including the transactions equivalent to the transaction set forth in sub-item (b), which are specified by a financial instruments exchange);

(d)cryptoassets-related over-the-counter derivatives transactions prescribed in Article 185-24, paragraph (1) of the Act;

(e)commodity-related market derivatives transactions as defined in Article 2, paragraph (8), item (i) of the Act; and

(a)the purchase and sale of listed share certificates, etc. (meaning the share certificates, corporate bond certificates with share options, and any other securities specified by Cabinet Office Order which are listed on a financial instrument exchange; the same applies in paragraph (3)) (excluding purchase and sale that falls under a derivatives transaction; hereinafter the same applies in this item and paragraph (3));

(b)the purchase and sale of over-the-counter traded securities; and

(c)the purchase and sale of tradable securities; and

(a)selling the thing in question on a financial instruments exchange market, over-the-counter securities market, or foreign financial instruments market;

(b)selling of share certificates, etc. (meaning share certificates, etc. prescribed in Article 27-2, paragraph (1) of the Act) in connection with a tender offer prescribed in Article 27-2, paragraph (6) of the Act;

(c)selling of listed share certificates, etc. (meaning the listed share certificates, etc. prescribed in Article 24-6, paragraph (1) of the Act) in connection with a tender offer prescribed in Article 27-2, paragraph (6) of the Act as applied mutatis mutandis pursuant to the provisions of Article 27-22-2, paragraph (2) of the Act following the deemed replacement of terms;

(d)selling of the thing in question through a purchase and sale transaction of securities which is closed when the rights acquired or granted in the transactions of securities-related derivatives (meaning transactions of securities-related derivatives prescribed in Article 28, paragraph (8), item (vi) of the Act and limited to the transactions set forth in Article 28, paragraph (8), item (iii), sub-item (c) of the Act (limited to a transaction related to Article 28, paragraph (8), item (iii), sub-item (c), 1. of the Act) or Article 28, paragraph (8), item (iv), sub-item (c) of the Act (limited to a transaction related to Article 28, paragraph (8), item (iv), sub-item (c), 1. of the Act)) are exercised (such a purchase and sale transaction is referred to as the "specified purchase and sale transaction" in the following item);

(e)selling associated with a purchase and sale of securities set forth in Article 2, paragraph (8), item (x) of the Act; and

(f)beyond what is set forth in sub-items (a) through (e), a thing specified by Cabinet Office Order as something that would not compromise the protection of investors;

(a)intermediation, brokerage (excluding brokerage for clearing of securities, etc.), or agency for purchases made on a financial instruments exchange market, over-the-counter securities market, or foreign financial instruments market;

(b)the acts set forth in Article 2, paragraph (8), item (x) of the Act;

(c)brokerage for clearing of securities, etc.; and

(d)beyond what is set forth in sub-items (a) through (c), acts specified by Cabinet Office Order as those which would not compromise the protection of investors.

(a)lending of money or securities to customers as a business set forth in Article 35, paragraph (1) of the Act (excluding those incidental to a margin transaction; the same applies in sub-item (c) of this item, sub-item (b) of the following item, and item (iv));

(b)intermediation or agency for lending of money to customers which are made by another financial instruments business operator incidentally with a margin transaction;

(c)intermediation or agency for lending of money or securities to customers which are made by another financial instruments business operator as a business prescribed in Article 35, paragraph (1) of the Act;

(a)intermediation for lending of money or securities to customers which are made by an entrusting financial instruments business operators, etc. (meaning an entrusting financial instruments business operator, etc. prescribed in Article 66-2, paragraph (1), item (iv) of the Act; the same applies hereinafter) incidentally with a margin transaction;

(b)intermediation for lending of money or securities to customers which are made by an entrusting financial instruments business operator, etc. as a business prescribed in Article 35, paragraph (1) of the Act;

(a)lending of money or securities to customers; and

(b)intermediation or agency for lending money or securities to customers, performed by other financial institutions (limited to banks, cooperative financial institutions, the Shoko Chukin Bank Limited, insurance companies, or securities finance companies);

(a)the lending of money or securities to customers as a business set forth in Article 35, paragraph (1) of the Act (excluding those incidental to a margin transaction; the same applies in sub-item (b) of this item, sub-item (b) of the following item, and item (v));

(b)intermediation or agency for lending of money or securities to customers which are made by another financial instruments business operator as a business set forth in Article 35, paragraph (1) of the Act;

(a)intermediation or agency for lending of money or securities to customers which are made by an entrusting financial instruments business operator, etc. incidentally with a margin transaction;

(b)intermediation for lending of money or securities to customers which are made by an entrusting financial instruments business operator, etc. as a business set forth in Article 35, paragraph (1) of the Act;

(a)lending of money or securities to customers;

(b)intermediation or agency for lending of money or securities to customers which are made by a financial instruments business operator incidentally with a margin transaction; and

(c)intermediation or agency for lending of money or securities to customers which are made by other financial institutions (limited to banks, cooperative financial institutions, the Shoko Chukin Bank Limited, insurance companies, or securities finance companies);

(a)the acts set forth in the items of Article 28, paragraph (8) of the Act performed with the government or the Bank of Japan;

(b)the acts set forth in the items of Article 28, paragraph (8) of the Act performed with financial institutions (meaning banks, cooperative financial institutions, and financial institutions set forth in the items of Article 1-9; hereinafter the same applies in this Article) that are specified by Cabinet Office Order, or a trust company (meaning persons that have obtained the license referred to in Article 3 or Article 53, paragraph (1) of the Trust Business Act (Act No. 154 of 2004)), and are related to the purchase and sale of securities or transactions of securities-related derivatives conducted by those persons for the purpose of investment or on the account of a person that has created a trust under a trust contract;

(c)the acts set forth in the items of Article 28, paragraph (8) of the Act performed with financial instruments business operators that are engaged in an investment management business, which are related to the investment management business conducted by them;

(d)the acts set forth in the items of Article 28, paragraph (8) of the Act performed with financial institutions that are specified by Cabinet Office Order, that are acts specified in Article 33, paragraph (2), items (i) through (v) of the Act related to the securities or transactions set forth in those items;

(e)among the acts set forth in the items of Article 28, paragraph (8) of the Act performed with the financial institution that is specified by Cabinet Office Order, those for which the financial institution makes the purchase and sale of securities upon receiving the customer's order in writing on a customer's account, or the acts set forth in item (iii) or (v) of that paragraph (excluding acts performed based on the solicitation to a customer concerning the order and acts performed upon receiving an order from the customer concerning the investment advisory business conducted by the financial institution), the acts which are related to those specified by Cabinet Office Order;

(f)the acts set forth in the items of Article 28, paragraph (8) of the Act performed with a Long-Term Credit Bank (meaning the persons that have obtained a license from the Prime Minister pursuant to the provisions of Article 4, paragraph (1) of the Long-Term Credit Bank Act (Act No. 187 of 1952)), an ordinary bank prescribed in Article 8, paragraph (1) of the Act on Financial Institutions' Merger and Conversion (Act No. 86 of 1968) (including as applied mutatis mutandis pursuant to Article 55, paragraph (4) of that Act; hereinafter the same applies in this item) that has received an authorization referred to in Article 8, paragraph (1) of that Act (including an ordinary bank prescribed in Article 17-2, paragraph (1) of the Act on Financial Institutions' Merger and Conversion prior to the amendment pursuant to the provisions of Article 168 of the Supplementary Provisions of the Act on Development, etc. of Relevant Acts for Financial System Reform (Act No. 107 of 1998) which are to remain in force pursuant to the provisions of Article 169 of the Supplementary Provisions of that Act (hereinafter referred to as the "Merger and Conversion Act Prior to the Amendment in 1998" in this item) (including as applied mutatis mutandis pursuant to Article 24, paragraph (1) of that Act; hereinafter the same applies in this item) which has received an authorization referred to in Article 17-2, paragraph (1) of that Act, and an ordinary bank which has received an authorization referred to in Article 17-2, paragraph (1) of that Act (including as applied mutatis mutandis pursuant to Article 24, paragraph (1) of that Act; hereinafter the same applies in this item) in implementing a merger or conversion for which a written merger agreement or written conversion agreement has been prepared pursuant to the provisions of the Act on a Financial Institutions' Merger and Conversion prior to the amendment pursuant to the provisions of Article 199 of the Act on Arrangement of Relevant Acts Incidental to Enforcement of the Companies Act (Act No. 87 of 2005; hereinafter referred to as the "Preparation Act for the Companies Act" in this item) which are to be governed by prior laws pursuant to the provisions of Article 200, paragraph (1) of the Preparation Act for the Companies Act (hereinafter referred to as the "Merger and Conversion Act Prior to the Amendment in 2005" in this item), or a trust company, etc. (meaning a trust company, etc. referred to in Article 3, paragraph (1) of the Trust Loan Act (Act No. 195 of 1952)), which are related to the long-term credit bank bonds issued pursuant to the provisions of Article 8 or Article 9 of the Long-Term Credit Bank Act, the specified corporate bonds issued pursuant to the provisions of Article 8 of the Act on Financial Institutions' Merger and Conversion, or the beneficiary certificates prescribed in Article 2, paragraph (2) of the Trust Loan Act, respectively;

(a)receiving an order from a person in Japan, the acts set forth in Article 28, paragraph (8), items (i) through (iii) or item (v) of the Act or the acts set forth in item (vi) of that paragraph (excluding intermediation, brokerage, or agency set forth in item (iv) of that paragraph) performed with the person as the counterparty, which are specified by Cabinet Office Order, or the acts set forth in Article 28, paragraph (8), item (iv) of the Act or the acts set forth in item (vi) of that paragraph (excluding intermediation, brokerage, and agency set forth in item (iv) of that paragraph) performed with the person (limited to one that falls under either sub-item (a) or (b) of Article 1-8-6, paragraph (1), item (ii)) as the counterparty;

(b)through the agency or intermediation performed by a financial instruments business operator engaged in securities-related services (limited to one that has obtained the registration referred to in Article 29 of the Act to conduct a type 1 financial instruments business), a purchase and sale of securities or an act set forth in Article 28, paragraph (8), item (iii) or (v) of the Act that is specified by Cabinet Office Order performed with a person in Japan as the counterparty, or an act set forth in Article 28, paragraph (8), item (iv) of the Act performed with a person in Japan as the counterparty (limited to those that fall under either sub-item (a) or (b) of Article 1-8-6, paragraph (1));

(a)a contract providing that the relevant party is to acquire all or some of the securities from the issuer or the holder of the securities for the purpose of having the securities acquired by other persons;

(b)a contract providing that, if there are no persons to acquire all or some of the securities, the relevant party is to acquire the remaining securities from the issuer or holder of the securities; and

(c)a contract providing that, if the securities are share option certificates and the person that has acquired them does not exercise the share options associated with all or some of them, the relevant party is to acquire the share option certificates associated with the unexercised share options from the their issuer or holder and the relevant party or a third party is to exercise those share options.

(a)investments that are made in share certificates and other securities specified by Cabinet Office Order (limited to those that are not listed on a financial instruments exchange at the time of making the investment, and excluding those specified by Cabinet Office Order) by allocating an amount exceeding 80 percent of the amount obtained by deducting the amount specified by Cabinet Office Order from the amount of the money and other property invested or contributed; and

(b)borrowing of funds or guarantee of obligations is not to be made, except in the case specified by Cabinet Office Order as a case that is found to have little likelihood of resulting in insufficient investor protection;

(a)a restriction prohibiting the person that has acquired or purchased the rights from transferring the rights unless doing so all at once to another single qualified institutional investor or investor subject to specially permitted services is imposed under the contract of the rights or by other juridical acts; and

(b)if other rights specified by Cabinet Office Order as being the same type of rights as the relevant rights (those other rights are referred to as "newly issued rights of the same type" in sub-item (b)) have been issued as securities within six months prior to the day on which the relevant rights are to be issued as securities, the sum of the number of investors subject to specially permitted services that acquire the relevant rights in response to the solicitation for acquisition of the rights and the investors subject to specially permitted services that have acquired newly issued rights of the same type which have been issued within six months prior to the day on which the relevant rights are to be issued as securities in response to the solicitation for acquisition is 49 or less.