Investment Risks and Costs

Risks Related to Investment Management and Investment Advice on Securities

Our company primarily targets domestic and international stocks, along with derivative products related to them, as investment management and investment advisory products for qualified investors. The net asset value of the portfolio under investment management and investment advice may fluctuate due to the price movements of the underlying securities and foreign exchange rate changes (foreign currency-denominated assets carry exchange rate risks). Additionally, it is subject to the impact of changes in the issuer's management and financial conditions, as well as external evaluations of those conditions.

Therefore, the performance of the portfolio managed under investment management and investment advice does not guarantee the return of the principal investment, and there may be losses, including a decrease in principal. Any profits or losses resulting from the investment will be attributed to the investor, and investments should be made under the principle of personal responsibility.

Costs Related to Investment Management and Investment Advice

In conducting investment management and investment advisory services for qualified investors, we will enter into an investment mandate agreement, partnership agreement, or investment advisory contract with the client beforehand. The costs associated with investment management and investment advice (such as management fees, advisory fees, and performance fees) will be determined in consultation with the client at the time of contract signing.