operations.The requirement to appoint independent directors, however, will not apply to certain cases; for example, securities and derivatives investment advisors due to their relatively small size and few staffs

operating crowdfunding portals. The supervised areas include measures and implementation against conflicts of interest, member data storage, disclosure of issuer information, issuer compliance monitoring

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At present, money market funds are used by investors as a tool to manage liquidity and a place to park money for a short time, besides keeping it in banking accounts. As of February 2018, the size of

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preceding year, industrial and competition outlook with regard to, for example, an approximate number of competitors, the Company's size compared with that of the competitors, competitiveness and potential

outlook with regard to, for example, an approximate number of competitors, the Company's size compared with that of the competitors, competitiveness and potential, and the names of competitors (only in the