during the preceding year including the factors conducive to business opportunities or constraints – for example, acquisition of business license, concession or investment promotion – and clarify the

understanding of the Company's nature of business, including the key factors that have an impact on business opportunities or constraints – for example, acquisition of business license, concession and investment

opportunities or constraints – for example, obtaining a business license, concession or investment promotion – and clarify the respective benefits thereof as well. In the event that the Company or a subsidiary