The types of businesses Mori Building Real Estate Investment Advisory undertakes as a financial instruments firm based on the Financial Instruments and Exchange Act are as follows:

1. "Type II financial instruments business" as stipulated in Article 28 Section 2 of the Financial Instruments and Exchange Act
2. "Investment advisory and agency business" as stipulated in Article 28 Section 3 of the Financial Instruments and Exchange Act
3. "Investment management business" as stipulated in Article 28 Section 4 of the Financial Instruments and Exchange Act

We will comply with the manual on business methods and other in-house rules as well as relevant laws and regulations in executing financial instruments business, and will develop the necessary in-house structure.

Mori Building Real Estate Investment Advisory, as well as its executive officers and employees, will conduct financial instruments business toward clients in a sincere and fair manner.

We will execute investment advisory and asset management operations with the prudence of a faithful and honest manager for our clients.

We will conduct asset management in compliance with the Financial Instruments and Exchange Act and other laws and regulations as well as the contracts concluded between Mori Building Real Estate Investment Advisory and its clients. We will also place emphasis on compliance and adhere to the principle that clients are the priority.

When Mori Building Real Estate Investment Advisory consigns a third party full or partial authority to manage our clients’ assets (including the case where the consignee reconsigns a part of the authority consigned from the Company), we will ensure compliance with the Financial Instruments and Exchange Act, the Civil Code and other relevant laws and regulations as well as contracts concluded between Mori Building Real Estate Investment Advisory and its clients.

We will consistently check the consignees’ business capabilities and status of compliance with contract clauses. If there is deemed to be a problem in business capabilities, we will take the necessary and appropriate measures such as providing suitable instructions for improved conduct of business or discontinuing the reconsignment arrangement.

Mori Building Real Estate Investment Advisory will strive to attain efficient management and fiscal health, while enhancing its equity capital and securing long-term stability of its management base.

With regard to buying and selling of securities for its own account, Mori Building Real Estate Investment Advisory will not engage in transactions based on special information known through the conduct of its business or speculative trading that has a risk of advrersely affecting the Company’s fiscal health.