collection items from the NPL management business which we have not recognized (such as cash collected from auction sale pending recognition, suspended account for debt repayment, check pending collection and

applicable law or regulation. d. With respect to a pending credit rating action, the policies, procedures, and controls should prohibit the CRA and its employees from selectively disclosing information about

not include cash collection items from the NPLs managemen t business which we have recognized (such as cash collected from auction sale pending recognition, suspended account for debt repayment, check

sale pending recognition, suspended account for debt repayment, check pending collection and suspended account for write-off). However, cash collection is not an indicator of actual cash flow of our NPLs

2nd independent financial advisory firm to reevaluate the fair value of the investments by using income approach method, discounted cash flow to present value, and Black-Scholes option pricing model

back to normal next year. We are confident with our new mission in moving forward is to become a Health-Driven Global F&B firm through a 4R strategy that we have already started to implement as follows

Health-Driven Global F&B Firm that operates sustainably. With the above plan, the Company is confident that sales will grow aggressively 30% in 2018, the starting year of the Company’s strategic plan in

2 new investors in Pace Project One Co., Ltd. and Pace Project Three Co., Ltd., the Company engaged independent financial advisory firm to measure the fair values of investments in these 2

price is a firm quotation or an indicative quotation. Clause 10. In case where securities company offer a firm quotation, such securities company shall; (1) Purchase or sell with such offering price and

request or inspection. Chapter 2 Securities Trading Clause 9. Securities company shall notify its counter trader whether such offering price is a firm quotation or an indicative quotation. Clause 10. In