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accumulation of household debt. Therefore, the MPC viewed that the current accommodative monetary policy stance remained appropriate as it would contribute to the continuation of economic growth and correspond

granted by a financial institution. 11. Opinion of the Board of Directors The Board of Directors has viewed that the Advertising Media Renovation Transaction would benefit the Company in terms of providing

relevant costs, e.g., related taxes, etc. 8. Opinion of the Board of Directors on the Transaction The Board of Directors has considered and viewed that this transaction is justifiable price and consistent

the transaction. In this regard, the Company has considered and viewed that the reason for re- negotiation is reasonable and that the price of the Company’s shares has materially decreased. Although

is viewed that the Company shall terminate or sell the investment, and the Company shall, then, seek for investors who are interested in the project. At present, the current management, representing

Directors’ Meeting of the Company No. 90/2017, held on the date of 22 May 2017, resolved to approve the Transaction, as the Board of Directors considered and viewed that the Transaction was reasonable and

Directors considered and viewed that the Transaction was reasonable and beneficial to the Company and its shareholders, given the reasons described in item 8 above. The Meeting therefore resolved to approve