(Unofficial Translation) 1 Licensing Manual: Application for Approval of Foreign Auditor (General Case) Authority: the Office of the Securities and Exchange Commission (public agency) Rules

default. The SEC requires that the bondholder representative analyze the benefits and shortcomings as well as the potential impacts on the bondholders both in cases of approval and decline of approval

shortcomings as well as the potential impacts on the bondholders both in cases of approval and decline of approval for the above matters with respective supporting reasons and the opinions of the bondholders

both in cases of approval and decline of approval for the above matters with respective supporting reasons and the opinions of the bondholders’ representatives. The bondholders are, therefore

180 days from the license approval date to 270 days from the notifying date of the license approval. This is to better align with the practical timelines of the industry and the practices of digital

Rehabilitation Listed Company, required to offer and sell newly issued securities by the Rehabilitation Plan, an exemption from submitting an application for approval to the SEC on the condition that the Company

in cases of approval and decline of approval for the above matters with respective supporting reasons and the opinions of the bondholders’ representative. The bondholders are, therefore, encouraged

the potential impacts on the bondholders both in cases of approval and decline of approval for the above matters with respective supporting reasons and the opinions of the bondholders’ representatives

the bondholders both in cases of approval and decline of approval for the above matters with respective supporting reasons and the opinions of the bondholders’ representative. The bondholders are

the potential impacts on the bondholders both in cases of approval and decline of approval for the above matters with respective supporting reasons and the opinions of the bondholders’ representative