(Chinese wall). By at least set out measure to protect the access to inside information of units and personnel who has an opportunity to access the inside information regarding securities issuers; (4) clear

information of units and personnel of the securities company (Chinese wall). By at least set out measure to protect the access to inside information of units and personnel who has an opportunity to access the

notification to protect any acts that may create conflict of interest, specified operating system to prevent such acts including measure on entering into transaction of management company to protect the benefit

. Therefore, the Office hereby deems appropriately specifying this notification to protect any acts that may create conflict of interest, specified operating system to prevent such acts including measure on

mechanism or measure which render the securities underwriter to perform duties independently: (1) in case the securities underwriter, or parent company or subsidiary company of the underwriter is the sponsor

/1 4 The underwriting of REIT unit by a securities underwriter in the following cases shall be prohibited, except where such underwriter is able to demonstrate to the SEC Office a mechanism or measure

measurements of financial performance or liquidity, under TFRS, and should not be considered alternatives to net profit (loss) or any other performance measure or as an alternative to cash flow from operating

performance or liquidity, under TFRS, and should not be considered alternatives to net profit (loss) or any other performance measure or as an alternative to cash flow from operating activities. Since there are

(loss) or any other performance measure or as an alternative to cash flow from operating activities. Since there are various calculation methods, its presentation may not be comparable to similarly titled

’ understanding that there is a preventive measure against using inside information. 9.5 Investment consideration and REIT management: (1) specify procedure and factor for investment consideration; (2) for