competitors, competitiveness and potential, the names of the competitors (not required unless there is only one or a few competitors being market leaders), market trends and competitive forecast. 2.2.3

. Remark : Preparation of financial prediction in this annual registration statement is voluntary and may be done at any period. In any case, the Company shall do so with discretion to ensure that the

to financial information; - In the case where the Company has disclosed a business plan or a financial prediction in the registration statement or the annual registration statement/annual report

easy to understand, including details on forecast and risks which may cause the return or the fund’s performance to be different from estimated; and 2. projection of rental income which is certified by a

is clear and easy to understand, including details on forecast and risks which may cause the return or the fund’s performance to be different from estimated; and 2. projection of rental income which is

of an entity issuing capital market product and various business risks and [ii] analyzing past and present performance so as to forecast future performance. “ technical analysis ” means an analysis by

risks and [ii] analyzing past and present performance so as to forecast future performance; “ technical analysis ” means an analysis by [i] using historical price and trading volume of capital market

reasonableness of the appraisal report in (b) whereby if the management company or the financial advisor also prepares a financial forecast on the infrastructure business showing the base case analysis and