Deutsche Securities Inc.
Financial instruments dealer, Kanto Financial Bureau (Kin-sho) No. 117
(Member of Japan Securities Dealers Association and The Financial Futures Association of Japan)

Deutsche Bank AG, Tokyo Branch
Registered financial institution, Kanto Financial Bureau (Tou-kin) No. 625
(Member of Japan Securities Dealers Association, The Financial Futures Association of Japan and
The Japanese Bankers Association)

Deutsche Asset Management (Japan) Limited
Financial instruments dealer, Kanto Financial Bureau (Kin-sho) No. 359
(Member of The Investment Trusts Association, Japan and Japan Securities Investment Advisers Association)
The Deutsche Bank Group website is produced and offered solely for informational purposes on the activities, products and services of Deutsche Bank Group and its Group companies, and should not be construed as a solicitation nor as investment advice or recommendations for, specific products and services. Products and services carried on the site may incur commissions, management fees and/or other fees and/or costs. The value of products and services might go down as well as up and may incur the risk of losses due to a variety of causes, including but not limited to, market and economic trends, pricing variations, financial, legal, tax, accounting and other factors. The advice of a financial institution such as Deutsche Bank Group companies or of a financial professional should be sought before engaging in the purchase of any financial product or service.
The Financial Instruments and Exchange Law (and related amendment to the Banking Law and other relevant laws), which was implemented on September 30, 2007, introduces a new investor protection system, the so-called Professional Investor/General Investor System, under which customers of financial instruments firms are classified as either Professional Investors, who the Law deems do not need protection provided by the Law, or General Investors, who the Law deems need to be protected by the Law.

From the perspectives of investor protection, General Investors are protected by regulations imposed on financial instruments firms. In contrast, in the interest of facilitating smooth transactions, Professional Investors are excluded from application of certain regulations imposed on financial instruments firms (i.e., regulations aimed at correcting the information disparity between financial instruments firms and investors, and other regulations) on the grounds that, given their knowledge, experience and financial conditions, they are deemed to be capable of properly managing risks associated with financial transactions.

Investor Classification

Classification of customers as Professional Investors or General Investors is as described in the table below. Certain Professional Investors are permitted, at their option, to be reclassified and treated as General Investors, whereby they would be able to enjoy the same protection as General Investors do. At the same time, certain General Investors are permitted, at their option and acceptance by each of the financial instruments firms they transact, to be reclassified and treated as Professional Investors. Please note that reclassification of such General Investors as Professional Investors is not always accepted by a financial instruments firm.

Expiry Date

Reclassification continues to be effective on and from the date of acceptance for reclassification by relevant Deutsche Bank Group entity (Deutsche Securities Inc.; Deutsche Bank AG, Tokyo Branch; or Deutsche Asset Management (Japan) Limited) to and including the immediately succeeding July 31 (the last day of the effective period hereinafter referred to as the “Expiry Date.”) If a customer desires to remain reclassified as either a Professional Investor or General Investor beyond the Expiry Date, the customer is required to make a renewal request for reclassification prior to the Expiry Date. If such a request is made and necessary procedures for reclassification are completed by the Expiry Date, reclassification continues to be effective for a further one year period on and from the date immediately succeeding the Expiry Date.