This document is an English translation of the Japanese “Prospectus Issued upon Request” (the “Full Prospectus”) of Listed Index Fund TOPIX (the “Fund”). The Japanese Full Prospectus is the offering document. This English translation is not required by law or any regulation.
While every effort has been made to ensure the accuracy or completeness of this translation, Nikko Asset Management Co., Ltd. cannot guarantee this translation is accurate or complete as differences of interpretation may arise between the English and Japanese language. In the event of any inconsistency between this English translation and the Japanese version, the Japanese version shall prevail, except to the extent prohibited by the applicable law of any jurisdiction where the units of the Fund are sold.
Except as otherwise indicated herein, this material is based on the Japanese version dated as of 8 October 2016. In case of any update to or modification of the Japanese version of the terms and conditions, there is no guarantee that a corresponding update or modification will be made to this English translation.
This translation of the Full Prospectus has been prepared by Nikko Asset Management Co., Ltd. for English speaking investors for information purposes. Investors should not subscribe for these securities solely relying on this document, as this is a translation of the original Full Prospectus. As the English translation may differ from the Japanese Full Prospectus as explained above, this document does not contain or constitute, and should not be relied upon as an offer or invitation to make an offer for the purchase of these securities (including units of the Fund) to any person or entity in any jurisdiction.
Neither this material nor any part hereof may be reproduced, transmitted, reprinted, or redistributed without the prior written authorization of Nikko Asset Management Co., Ltd.
Explanatory Booklet on
Investment Trust
October 8, 2016
Listed Index Fund TOPIX Nickname: “JoJo TOPIX” Open-ended Investment Trust/Domestic/Stocks/ETF/Index Type
◆In connection with the invitation for subscription to the “Listed Index Fund TOPIX”, which is extended by way of this prospectus, the Management Company filed a securities registration statement with the Director－General of the Kanto Local Finance Bureau on October 7, 2016 pursuant to the provisions of Article 5 of the Financial Instruments and Exchange Act. The registration became effective on October 8, 2015.
Securities registration statement filing October 7, 2016 date: Issuer: Nikko Asset Management Co., Ltd. Title and Name of the Representative: Takumi Shibata, Representative Director and President Address of the Head Office: 7-1 Akasaka 9-chome, Minato-ku, Tokyo Location where a copy of the securities Tokyo Stock Exchange Group, Inc. registration statement (including its 2-1, Nihonbashi Kabutocho, Chuo-ku, Tokyo registered supplements) may be inspected:
Established and managed by Nikko Asset Management Co., Ltd.
This prospectus is based on Article 13 of the Financial Instruments and Exchange Act (Act No. 25 of 1948).
Investment trusts are different from deposits with financial institutions or insurance policies.
● Investment trusts are not protected by the Deposit Insurance Corporation of Japan or the Insurance Policyholders Protection Corporation of Japan. Furthermore, purchasing investment trust units at a registered financial institution, such as a bank, exempts you from being eligible for payments from the Investor Protection Fund. ● Investment trusts offer no guarantee of principal or yields. ● Investors who purchase units in an investment trust bear the risk of a decline in the value of the invested assets.
- Contents -
Page No. PART II. Information on the Fund ··················································· 6 I. Description of the Fund ····················································· 6 II. Administration and Operation ··········································· 33 III. Financial Condition of the Fund ········································· 42 IV. Outline of Administration of Domestic Investment Trust Beneficiary Certificates ································································ 117 PART III. Information on the Management Company, Etc. ·················· 119
PART I. Information on Securities (1) Fund Name Listed Index Fund TOPIX (hereinafter referred to as the “Fund”). “Listed TOPIX” or “JoJo TOPIX” may be used as nicknames. (2) Form, Etc. of the Domestic Investment Trust Beneficiary Certificates Units of an open-end securities investment trust (hereinafter referred to as the “Units”). No credit rating has been or will be assigned or made available by a credit rating company. * The provisions of the Act on Book-Entry Transfer of Company Bonds, Shares, etc. apply to the Fund’s Units. Title to the Units is determined by entry or record in a book-entry transfer account book of the book-entry transfer institution set forth under “(11) Matters Concerning the Book-Entry Transfer Institution” below and of the account management institutions subordinate to the book-entry transfer institution (meaning the “account management institutions” set forth in Article 2 of the Act on Book-Entry Transfer of Company Bonds, Shares, etc.; the account management institutions and the book-entry transfer institution are hereinafter collectively referred to as the “Book-Entry Transfer Institution, Etc.”). (The Units determined by entry or record in a book-entry transfer account book are hereinafter referred to as the “Book-Entry Transfer Units.”) Except when there is an unavoidable reason, the Management Company does not issue any beneficiary certificates that represent any of the Book-Entry Transfer Units. Furthermore, neither a bearer form nor a registered form is recognized for the Book-Entry Transfer Units. (3) Total Issue (Offering) Price Up to 30 trillion yen (4) Issue (Offering) Price The issue price is the Net Asset Value per Unit on the day on which an application for subscription of the Units is accepted. Please contact one of the Distributors or the place referred to in “(8) Place of Subscription” for questions concerning the Net Asset Value per Unit. (5) Subscription Fee The Distributors are authorized to collect from those applying for subscription a fee that is determined independently by the respective Distributor, as well as an amount equivalent to the consumption taxes levied on such fee. * Please contact your Distributor for further information. (6) Subscription Unit The minimum number of Units for subscription is determined by rounding up to the nearest 100 units the result obtained by dividing the market value of the Unit Shares by the Net Asset Value per Unit on the day on which an application for subscription is accepted and subscriptions must be made in whole-number multiples of the minimum lot. * “Unit Shares” refers to all shares (the number of which is designated by the Management Company) of the respective composites of the TOPIX which the Management Company expects will track the performance of the TOPIX.
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(7) Subscription Period The subscription period is from October 8, 2016 to October 6, 2017. The subscription period can be renewed by filing another securities registration statement prior to the expiration date shown above. (8) Place of Subscription To find a Distributor, please contact the Management Company.
(9) Payment Date An applicant generally makes an application for subscription by surrendering the shares he or she owns no later than the day designated by the Distributor. The surrendered shares are deposited by the Distributor for safeguarding in an account with the Japan Securities Depository Center, Inc. for the Fund that is designated by the Trustee Company on the day when additional Units are created. (Monies, if included, are deposited in the fund account that is designated by the Trustee Company through an account designated by the Management Company.) (10) Place of Payment As shown in “(8) Place of Subscription”. (11) Matters Concerning the Book-Entry Transfer Institution The Japan Securities Depository Center, Inc. is the Book-Entry Transfer Institution. (12) Other N/A
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PART II. Information on the Fund I. Description of the Fund 1. Nature of the Fund (1) Objective and Basic Nature of the Fund i) Objective of the Fund The fund seeks to closely link the Net Asset Value per Unit to the movements of TOPIX by investing in the stocks that comprise TOPIX, building a portfolio in accordance with the method of computing TOPIX and holding the portfolio as a general rule.
*TOPIX is an index that is computed based on the total market value of all stocks that are listed on the First Section of the Tokyo Stock Exchange after adjusting for floating stocks. The computation method uses the total market value at closing on January 4, 1968 as the base, which was taken to be 100, and expresses subsequent total market values as index values. The continuity of the index is ensured by adjusting the total market value for paid-in capital increases, new listing, delisting, etc. so as to eliminate the impact of fluctuations in the total market capitalization resulting from factors other than market conditions. TOPIX is well recognized both in Japan and abroad as Japan’s representative stock index.
Market capitalization at the time of calculation (in yen) TOPIX = × 100 Market capitalization on the base date (in yen)
Copyrights and Other Rights of “TOPIX” The index value and trademark of TOPIX are intellectual property of Tokyo Stock Exchange Group, Inc. All rights concerning the stock index, including its computation, publication and use of the index values, as well as all rights concerning the TOPIX trademark belong to the Tokyo Stock Exchange Group, Inc. Tokyo Stock Exchange Group, Inc. may change or suspend the methods of calculating or publishing the TOPIX index value. Furthermore, it may change the TOPIX trademark or suspend its use. Tokyo Stock Exchange Group, Inc. does not offer any guarantee or make any representation as to any results obtained in connection with the use of the TOPIX trademark. Tokyo Stock Exchange Group, Inc. does not offer any guarantee as to the accuracy or completeness of TOPIX index values or any data contained therein. Furthermore, Tokyo Stock Exchange Group, Inc. is not liable for any errors, delays or interruptions in connection with the computation or publication of TOPIX index values. This fund is invested with the objective of achieving an investment outcome that tracks the movements of TOPIX. Nevertheless, the net asset value of the fund may at times deviate from TOPIX. This fund is not offered, guaranteed or distributed by Tokyo Stock Exchange Group, Inc. Tokyo Stock Exchange Group, Inc. is under no obligation to provide the purchasers of the fund or the general public with an explanation of the fund or any investment advice. In addition to all of the foregoing disclaimers, Tokyo Stock Exchange Group, Inc. further disclaims liability for any damage arising out of the issuance, sale or purchase of the fund.
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ii) Basic Nature of the Fund 1) Product Classification
Unit Type Investment Trust Geographical Investment Assets Independent Supplementary and Open-end Region Invested In (Revenue source) Segment Classification Investment Trust
Stocks Domestic MMF Unit type Bonds Index type investment trust
Real estate Overseas MRF investment trust
Open-end Special type investment trust Other assets Domestic and ( ) ETF overseas
Asset allocation
Note: Product categories that apply to the fund are shown in shaded boxes.
Open-end investment trust An open-end investment trust is a fund that issues additional units subsequent to its inception. Such additional units are invested together with assets in trust that are accepted earlier. Domestic A fund is classified as a domestic fund when either its prospectus or its investment trust deed states that the major part of the investment income from the fund portfolio is sourced from domestic assets. Stock A fund is classified as a stock fund when either its prospectus or its investment trust deed states that the major part of the investment income from the fund portfolio is sourced from stocks. ETF ETFs consist of securities investment trusts, as defined in Items 1 and 2 of Article 12 of the Order for Enforcement of the Act on Investment Trusts and Investment Corporations (Order No. 480 of 2000) and listed securities investment trusts, as defined in Article 9-4-2 of the Act on Special Measures Concerning Taxation (Act No. 26 of 1957).
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Index type A fund is classified as an index type fund when either its prospectus or its investment trust deed states that the fund aims to achieve investment results that track the performance of an index.
2) Segmentation by Attributes
Geographical Frequency of Index Investment Assets Areas of Settlement Investment Followed
Stocks Annual Global General Large-cap Semi-annual Japan Medium- and small-cap Quarterly North America Nikkei 225 Bonds General 6 times per year Europe Government (Every other month) bonds Corporate bonds Asia Other debenture 12 times per year TOPIX Credit (Monthly) Oceania attributes ( ) Daily Latin America Real estate investment trusts Other Africa Other Other assets ( ) ( ) ( ) Middle and Near East (Middle East) Composite assets ( ) Emerging Fixed asset allocations Variable asset allocations Note: The attribute segments that apply to the fund are shown in shaded boxes.
Stocks – General The fund invests in stocks. The “Stocks – General” category contains all stocks that do not have the attributes of large-cap, medium-cap or small-cap stocks. Annual A statement to the effect that settlements are made annually is found in the prospectus or the trust deed of these funds. Japan A statement to the effect that investment income from the fund portfolio is sourced from Japanese assets is found in the prospectus or the trust deed of these funds.
The foregoing descriptions are made in accordance with the classification method established by The Investment Trusts Association, Japan. See the Association’s website for definitions of additional product classes and those of attribute segments: http://www.toushin.or.jp/.
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iii) Characteristics of the Fund The fund is a contractual-type investment trust but is structured differently from ordinary investment trusts with respect to the following: 1) Units are listed on the Tokyo Stock Exchange and can be traded at any time during the trading hours. ● Units may be traded in blocks of 100 units (as of the date when the securities registration statement was filed). ● Brokerage commissions are set by the respective handling companies. ● The method of trading is generally the same as that for stocks. * Please contact your respective handling company for further information. 2) The application for subscription of the Units is made by means of shares. Applications are made in blocks (and whole-number multiples thereof) of the market value of the Unit Shares divided by the Net Asset Value per Unit on the day the application is accepted (rounded up to 100 units). * “Unit Shares” refers to all shares (the number of which is designated by the Management Company) of the respective composites of the TOPIX which the Management Company expects will track the performance of the TOPIX 3) Units may not be redeemed for cash prior to maturity with a request for cancellation. 4) Units may be exchanged for shares. * The shares of stocks that comprise TOPIX that you contribute at the time of your application do not necessarily match the shares of stocks that you receive in exchange. * The number of Units that you acquire at the time of your application does not necessarily agree with the number of Units you will need at the time of exchange.
Principal Investment Restrictions ● There is no restriction as to the ratios of investment in stocks. ● As a general rule, the stocks that the fund intends to invest in are those issued by companies whose stocks comprise TOPIX. However, shares that are acquired through shareholder allotments are exempted from this rule. ● The fund does not invest in assets denominated in foreign currencies.
Distribution Policy ● As a general rule, distributions are made in the full amount after deducting expenses, etc. from income such as dividends arising from trust assets. * There is no guarantee on future payments or the amounts of dividend.
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iv) Maximum Amount of Trust Money ● Securities or monies may be added to the trust up to a maximum amount equivalent to 30 trillion yen. ● The Management Company may change the maximum amount with the consent of the Trustee Company.
(2) Fund History December 20, 2001: - Execution of the trust deed of the fund and commencement of management. January 9, 2002: - Listing of the fund’s Units on the Tokyo Stock Exchange.
(3) Structure of the Fund i) Structure of the fund
Fund
Listed Index Fund TOPIX
*2 Management Company A securities Trustee Company investment Nikko Asset Management Co., Ltd. trust deed Mitsubishi UFJ Trust and Banking Corp. Instructions regarding investment of trust (Delegated trustee company: The Master Trust Bank assets of Japan, Ltd.) Preparation of the prospectus, etc. Management and custody of trust assets *1 Calculation of trust assets An agreement on the Payment of dividends, etc. handling of offerings, etc.
Distributors
Handling of offerings and sales Services relating to exchanges and buybacks, etc.
Investors (Unitholders)
*1 An agreement between the Management Company and Distributors regarding the rules on the sale of the investment trust. It encompasses matters such as stipulations on the scope of business regarding the handling of offerings, exchanges and buybacks by the Distributors. *2 An agreement between the Management Company and Trustee Company regarding the rules on managing the investment trust. It includes matters such as stipulations on the basic management policy, assets to be invested in, restrictions on investment, trust fees, unitholders’ rights, and the offering method.
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ii) Profile of the Management Company (as of July 31, 2016) 1) Capital 17,363 million yen 2) History 1959: Established as Nikko Securities Investment Trust Management Co., Ltd. 1999: Merged with Nikko Kokusai Investment Management Co., Ltd., and changed the corporate name to “Nikko Asset Management Co., Ltd.” 3) Major Shareholders Number of Holding Name Address Shares Held Ratio Sumitomo Mitsui Trust 1-4-1, Marunouchi, Chiyoda-ku, Tokyo 179,869,100 91.29% Bank, Limited 6 Shenton Way, #46-00, DBS Building Tower DBS Bank Ltd. 14,283,400 7.24% One, Singapore 068809
2. Investment Policy (1) Investment Policy Investments are made in the stocks that comprise TOPIX, and the fund is managed so that each stock in the trust assets maintains a weight that equals its weight in TOPIX, aiming to achieve investment results that correspond to the performance of TOPIX. Instructions to adjust the composition of trust assets may be issued in the following events: i) There is a change in the method of computing TOPIX. ii) An adjustment is made to the total market value of the stocks that comprise TOPIX as the result of a change among the stocks that comprise TOPIX or a change in capital, etc. iii) Instructions are issued for additional trust creations or an exchange between the Units and shares. iv) Any other event, when deemed necessary by the Management Company for the purpose of maintaining the index tracking. The fund may, in response to fund movements, take part in futures trading in securities indices and other vehicles set forth in the trust deed for the purpose of bringing the fund’s performance closer to that of TOPIX. Management in accordance with the investment policy described above may not be possible in the event that the fund ends its trust arrangement.
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(2) Investment Assets The fund invests mainly in the shares of stocks that comprise TOPIX. i) Types of assets that the fund invests in are as follows: 1) Securities; 2) Interests in derivatives transactions (as defined in Article 2, Paragraph 20 of the Financial Instruments and Exchange Act and provided for in Article 26 of the Trust Deed); and 3) Monetary claims. ii) In addition to investing in shares, the fund may also be managed by investing in securities other than shares (excluding rights deemed as securities under Article 2, Paragraph 2 of the Financial Instruments and Exchange Act and set forth in each Item of the same Paragraph) and financial instruments (including rights deemed as securities under Article 2, Paragraph 2 of the Financial Instruments and Exchange Act and set forth in each Item of the same Paragraph) listed below: 1) Deposits; 2) Beneficiary certificates for designated money trusts (limited to the beneficiary certificates for the trusts issuing beneficiary certificates as defined in Article 2, Paragraph 1, Item 14 of the Financial Instruments and Exchange Act); 3) Designated money trusts (excluding the trusts issuing beneficiary certificates as defined in Article 2, Paragraph 1, Item 14 of the Financial Instruments and Exchange Act); and 4) Call loans. iii) The following transactions may be effected: 1) Futures trading, etc.; and 2) Lending of securities.
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(3) Management System The Management Company’s management system is as follows:
Chief Investment Officer (CIO)
Macro & Micro Stock Bond Alternative Passive Outsourcing Management Research and Management Management Management Management Management Planning Analysis Department Department Department Department Department Department Department
Trading Department
The organization that supervises internal control and decision making within the management system of the Management Company is as follows:
Board of Directors, etc.
■ Formulation of Management Policies
Determines domestic and overseas Investment Committee economic forecasts, market outlook and Internal Audit-related Department (Formulation of basic policies) basic policies for asset allocations (Approximately 5 persons) Verifies and evaluates the appropriateness of the internal control Management Departments Formulate specific management policies system over the company’s operations, (Formulation of management concerning individual assets and asset including investment policies) allocation strategies, based on the Furnishes the Board of Directors with decisions of the Investment Committee reports of audit results and follows up on the rectification of audit findings, etc. Execution of Fund Management Risk Management/Compliance Fund Managers of Respective Constructs and manages portfolios in related Departments Management Departments line with the guidelines and (Approximately 45 persons) (Construction and management of management policies of individual funds Controls and monitors credit risks and portfolios) administrative risks relating to Ordering Policy Committee investment activities Selects ordering outsource Evaluates and analyzes investment companies that are deemed to be the performance Manages compliance with laws, most qualified in terms of their regulations and rules, etc. ability to provide information and execution ability, and decides ordering policies, etc.
Trading Department Executes trades in accordance with the (Execution of trades) optimum execution process, based on the decisions of the Order Policy Committee
Management Analysis Meeting Management Risk Committee Deliberates on the fund Efficiently keeps track of and management status, including monitors the management the evaluation and analysis of status pertaining to the investment performance, management risk, etc. etc.
Management Company’s System of Control over the Corporations Involved with the Fund (except for Distributors) The Management Company verifies the value of net assets held by the Trustee Company on a daily basis and the account balances on a monthly basis. In addition, an independent audit corporation conducts audits of the trustee operations in accordance with established procedures. The audit corporation furnishes the Management Company with a periodic audit report, assuring that effective internal controls are in place.
* The system shown above is current as of the end of July 2016, and may be subject to change in the future.
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(4) Distribution Policy i) Income Distribution Policy 1) The full amount of dividends and other income arising from the trust assets (which equals the sum of dividends, interest, fees on securities lent and other similar income less interest paid) and a distribution reserve that has been carried over from the preceding period are distributed to the unitholders at the end of each calculation period after deductions are made for expenses, trust fees stipulated in the trust deed and an amount equal to consumption taxes levied on the trust fees, and after the full amount of a negative distribution reserve carried over from the preceding period, if any, is offset. However, part or all of such money may be retained in the trust assets for the purpose of adjusting the amounts of income distribution. In such a case, the retained income is added to the distribution reserve and can be applied toward distributions in the subsequent periods. When there is insufficient income to deduct the full amounts of expenses, trust fees stipulated in the trust deed and consumption taxes levied on the trust fees, and also offset a negative distribution reserve, the shortfall is reported as a negative distribution reserve and carried forward to the next period. 2) The sum of the profits referred to in the following subparagraph a) that arise from the trust assets at the end of each calculation period is carried forward to the following period after deductions are made for losses referred to in subparagraph b) and the full amount of loss brought forward, if any, is offset. a) Gains on trading of securities (including their unrealized gains), gains on trading of futures, etc. (including their unrealized gains), gains on additional trust creations and gains on exchanges. b) Losses on sales of securities (including their unrealized losses), losses on the trading of futures, etc. (including their unrealized losses), losses on additional trust creations and losses on exchanges. ii) Payment of Income Distribution As a general rule, the Trustee Company pays each unitholder his or her income distribution by depositing it on the day specified by the Management Company but within 40 days of the end of each calculation period in the deposit account designated in advance by the unitholder. When a unitholder has signed a separate agreement with his handling company in connection with the handling of income distribution, the payment is made pursuant to the provisions of such agreement. (5) Investment Restrictions i) Investment Restrictions Set Forth in the Trust Deed 1) There is no restriction as to the ratios of investment in stocks. 2) As a general rule, the stocks that the fund intends to invest in are those issued by companies whose stocks comprise TOPIX. However, shares that are acquired through shareholder allotments are exempted from this rule. 3) The fund does not invest in assets denominated in foreign currencies. 4) The Management Company may give instructions to execute trading similar to TOPIX futures and options trading on financial instruments exchanges in Japan as well as trading similar to TOPIX futures and options trading on foreign financial instruments exchanges.
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5) For efficient management of the trust assets, the Management Company may give instructions for lending of any stocks attributable to the trust assets. Any such lending of stocks shall be such that the total market price of the stocks to be lent shall not exceed the total market price of the stocks held in the trust assets at the time of lending. 6) The derivative transactions shall be such that the amount calculated in a reasonable manner pursuant to the rules of the Investment Trusts Association, Japan does not exceed the total net asset value of the trust asset. 7) Equity, debt, and derivative are the categories of exposures prescribed in the rules of The Investment Trusts Association, Japan. With regard to the exposures, in principle, the individual category’s exposure to a certain interest counterparty, the kind of a counterparty prescribed in the rule, shall not exceed 10% of the total net asset value of the trust assets. And all the categories’ exposure to a certain counterparty shall not exceed 20%. If the ratio exceeds the limit, the Management Company shall carry out adjustment to keep within the limit pursuant to the rules of The Investment Trusts Association, Japan. ii) Statutory Restrictions on Investment Investment in shares issued by one corporation (pursuant to the Act on Investment Trusts and Investment Corporations) The Management Company does not engage in transactions that would cause the total number of one corporation’s shares that are held in the investment trusts that it manages to represent more than half of the voting rights of the corporation’s stock.
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3. Investment Risks (1) Risks of the Fund
Investment in the fund involves certain risks, including major risks listed below. When subscribing the Units, the investor is requested to fully evaluate the risks pertaining to the fund and make careful determination on investment.
There is no guarantee of the investors’ investment principal and a decrease in the Net Asset Value per Unit may result in losses or the investment principal falling below par. Any profit and loss resulting from the management of the fund will be attributed to the investors (unitholders). Furthermore, please note that the fund differs from deposits and savings. The fund primarily invests in stocks. It is therefore possible that factors such as a decline in stock prices or deterioration of the financial conditions or performance of the issuer of the stock will cause the Net Asset Value per Unit to fall and result in a loss.
Major risks of the fund are as follows: i) Price Fluctuation Risk In general, stock prices fluctuate as they are affected by corporate information regarding the growth and profitability of a company and the change of such information. Furthermore, they also fluctuate due to factors such as economic and political conditions in Japan and abroad. There is a risk that the fund will suffer material losses if unexpected changes occur in stock price movements or liquidity. ii) Liquidity Risk When the sizes of the market or trading volumes are small, the trading value at the time of acquisition or sale of securities may be influenced by the size of trading volumes. Thus, there is a risk that the securities cannot be traded at prices that are expected in light of the prevailing market trend, a risk that the securities cannot be sold at the appraised price, and a risk that the trading volume may be restricted regardless of how high or low the price is, and there is therefore a risk that unanticipated losses will be incurred. iii) Credit Risk There is a general risk that the fund will incur material losses in the event of a serious crisis that directly or indirectly affects the business of a corporation in which the fund invests. Concerns over default and bankruptcies may result in a significant decline in the prices of the issuer’s stock, etc. (the price may drop to zero) and cause a decline in the fund’s Net Asset Value per Unit. Additionally, delisting of stock, etc. may occur when falling short of certain standards stipulated by the financial instruments exchange, and fear for delisting or occurrence of delisting may cause the price of stock, etc. of the issuer to fall. There is therefore a risk that material losses will result in the fund. iv) Security-lending Risk Acts such as lending of securities is accompanied by business partner risks (i.e. risk of non-performance or cancellation of the loan agreement due to bankruptcy of business partners, etc.) and it is therefore possible that unanticipated losses will be incurred. When in response to non-performance or cancellation of the loan agreement liquidation procedures are implemented by using the collateral that is set aside in the loan agreement, the procurement cost of buying back the securities can surpass the collateral value, due to
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price fluctuations in the market. The fund’s payment of such shortfalls may cause the fund to incur losses.
Laws, regulations, taxation systems, accounting policies and such like that are applicable to the fund may be subject to change in the future.
(2) Risk Control System
Board of Directors
Report
Overall RiskRisk Management Monitoring Committee
Compliance Monitoring Management Risk Enterprise Risk related Committee related Committee Committee
Monitoring/ Monitoring/ Reporting/ Reporting/ improvement providing offering corrective offering policy proposal proposal guidance
Department Responsible for Risk Management/Compliance Business
o offer Evaluation/analysis of risk Monitoring of the status of performance and risk management compliance with laws, etc.
siness
Evaluation, analysis, etc.
Monitoring and Management Analysis providing corrective Meeting guidance, etc.
Providing feedback, improvement policies, etc.
Fund management departments
Overall Risk Management The Risk Management/Compliance Business Departments of Nikko Asset Management have been established as independent organizations, separate from fund management departments or sales departments, and aim to centrally monitor and guide company-wide risk control activities. The Compliance Department, through the Compliance Monitoring Committee for which the department serves as its administrative office, provides the company’s top management with reports on compliance with laws and regulations. And the Risk Management Department, through the Risk Monitoring Committee, provides the company’s top management with reports regarding risk status. In addition, the reports are submitted to the board of directors at least once a year on the status of overall activities. Both committees and the subcommittees endeavor to respond to serious problems and various risks, to establish preventive measures and to support constructing methods of control that can lead to reduced risks, in addition to monitoring laws and regulation compliance status, monitoring and reporting on various risks (including management risks, administrative risks and systematic risks).
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■Evaluation and Analysis of the Investment and the Investment Risk Management The investment status of the fund assets is evaluated and analyzed. The investment risk management status is also monitored. The results of the evaluation and of the analyses on the investment performance and the investment risks are reported to the Management Analysis Meeting and the investment risk management status is reported to either the Risk Monitoring Committee or its sub-committees, and measures are taken to determine the cause of problems and to establish improvement strategies. Additionally, the outsourced fund management department administers the management of the funds managed by sub- managers and monitors whether investments of such funds are being made in accordance with investment policies. Monitoring of Compliance with Laws and Regulations Compliance related departments are responsible for ensuring that the company is compliant with investment management laws, regulations and trust deeds. Any issues are reported to the compliance related committees, which adopt appropriate management and supervisory procedures to instruct fund management departments to rectify such problems when necessary. * The system described above is current as of the end of July 2016, and may be subject to change in the future.
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（Reference information） Comparison of fluctuations the fund with other Changes in annual fluctuations and Dividend-included NAV
representative asset classes of the fund August 2011～July 2016 August 2011～July 2016
< Average, annual Maximum ,and Minimum fluctuations ※NAV is the price per 100 units after management fees (trust of this fund and other representative assets(%) > fees) have been deducted. ※Dividend-included NAV is calculated based on the NAV as of
Government
Developed Developed Developed
Emerging Emerging Emerging
The Fund Japanese Japanese Japanese the end of August, 2011.
Country Country Country Country Country
Equity Equity Equity B Bond Bond ※The fund's Dividend-included NAV and fluctuations in the
ond percentage are theoretical data calculated with dividends
reinvested (before tax) and may differ from the data calculated based on NAV. AVG 15.0% 15.2% 18.0% 5.0% 2.8% 9.9% 4.9% MAX 64.9% 65.0% 65.7% 47.4% 9.3% 34.9% 43.7% MIN -22.1% -22.0% -17.5% -27.4% 0.4% -12.3% -17.4% ※The above is compiled to compare the fund to representative asset classes quantitatively. ※All asset class may not be investments in the fund. ※The above is the Maximum, Minimum ,and Average of the last year's fluctuations in the percentage at the end of each month for five years from August 2011 to July 2016 for the fund and other representative asset classes. This fund's fluctuations in the percentage are theoretical data calculated with dividends reinvested (before tax) and may differ from the data calculated based on NAV.
Japan Equity ----- TOPIX (Tokyo Stock Price Index and Japan Government Bond ----- NOMURA Bond Performance Average, dividends included)) Index (government bonds)
Developed Countries’ Equity ----- MSCI-KOKUSAI Index Developed Countries’ Government Bond ----- Citi World (dividends included, yen basis) Government Bond Index (excludes Japan, yen basis)
Emerging Countries’ Equity ----- MSCI Emerging Market Emerging Countries’ Government Bond ----- JPMorgan Index (dividends included, yen basis) Government Bond Index-Emerging Markets Global Diversified (without yen hedging, yen basis)
* The overseas’ indices were converted to yen, assuming the investments are without currency hedging.
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○Indices to Compare Representative Asset Classes with Fluctuation Rate
TOPIX (TOPIX (Tokyo Stock Price Index and Average, dividends included) This index includes all the companies’ domestic common equities that are listed on the First Section of the TSE (Tokyo Stock Exchange) in the calculation and considers dividends. The Tokyo Stock Exchange owns the copyright on the index, the intellectual property rights and any other rights associated with the index.
MSCI-KOKUSAI Index (dividends included, yen basis) Developed by MSCI Inc. This index calculates developed countries' equities except Japan and considers dividends. MSCI Inc. owns the copyright on the index, the intellectual property rights and any other rights associated with the index.
MSCI Emerging Market Index (dividends included, yen basis) Developed by MSCI Inc. This index calculates emerging countries' equities and considers dividends. MSCI Inc. owns the copyright on the index, the intellectual property rights and any other rights associated with the index.
NOMURA BPI Government Bonds Published by Nomura Securities Co., Ltd., which owns its intellectual property rights. Nomura Securities Co., Ltd. makes no guarantee of the accurancy, completeness, reliability or usefulness of the index, and takes no responsibility whatsoever for the business activities or services performed by Nikko Asset Management Co., Ltd. based on its use of the index.
Citi World Government Bond Index (excludes Japan, yen basis) Developed by Citigroup Index LLC. This index calculates weighted averages of the total profitability of government bonds from major world countries except Japan using each market's valuation. Citigroup Index LLC owns the copyright on the index, the trademark rights, the intellectual property rights and any other rights associated with the index.
JPMorgan Government Bond Index-Emerging Markets Global Diversified (without yen hedging, yen basis) Calculated and published by J.P. Morgan Securities LLC. This index calculates local currency denominated bonds issued by emerging countries. J.P. Morgan Securities LLC owns the copyright on the index, the intellectual property rights and any other rights associated with the index.
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4. Fees and Taxes (1) Subscription Fee Distributors may collect from applicants a fee that is determined independently by the Distributors together with an amount equal to the consumption taxes levied on such a fee. * Please contact your Distributor for further information. * The subscription fee is the fee for describing the products, for describing the related investment environments, for providing the information, and for the administration activities related to the purchase. (2) Redemption (Cancellation) Fee i) Redemption Fee A Distributor may collect from a unitholder a fee that is determined independently by the Distributor together with an amount equal to the consumption taxes levied on such a fee in the event that the unitholder makes an exchange or Units are bought back. * Please contact your Distributor for further information. * The redemption fee is the fee for the administration activities related to the redemption. ii) Amount Retained in Trust Asset None (3) Trust Fee, Etc. i) Trust Fee The total amount of the trust fee is the amount equal to the total net asset value of the trust assets times the annual percentage rate not to exceed 0.2376% (or 0.22% without tax), accumulated daily throughout the calculation period. The annual rate was 0.09504% (or 0.088% without tax) as of the date the securities registration statement was filed. ii) Allocation of the Trust Fee The trust fee is allocated as follows when the fund’s trust fee is 0.088% without tax (annual rate), as was the case on the date the securities registration statement was filed. Trust fee=The constant value of investment time horizon × Trust Fee Rate (Annual Rate) Total Management Company Trustee Company 0.088% 0.060% 0.028%
Management Commission fee of the fund management Company Trustee Fee for managing investment properties, and for Company executing the Management Company’s instructions *The rate in the table is without tax. Consumption tax is separately charged. iii) Time of Payment The trust fee (and an amount equal to consumption taxes levied on the trust fee) is paid out of the trust assets at the end of each calculation period or upon termination of the trust.
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(4) Other Fees, Etc. The following costs/fees and any amounts equal to consumption taxes levied thereon are borne by unitholders and paid out of the trust assets: i) Brokerage commissions associated with the trading of securities in the portfolio, and costs associated with futures and options trading; ii) The cost required for audits of the financial statements for the trust assets (calculated daily); iii) Taxes on the trust assets, various expenses required for the administrative work for the trust, and interest on monies advanced by the Trustee Company; iv) In the event that securities are loaned, fees related to securities loaned calculated by multiplying the lending commissions received as consideration for such loan by a multiplier not to exceed 0.54 (or 0.5 without tax). Such multiplier was 0.54 (or 0.5 without tax) as of the date the securities registration statement was filed. Allocation of such fees to the Management Company and Trustee Company is 1:1 and paid at the same as the trust fees; and v) The cost related to the listing of the Units and the fee for the use of “TOPIX” and other similar marks.
* Audit fees are the fee for auditing the fund such as audit companies' fees. * Audit fees, brokerage commissions, etc. cannot be shown as they vary depending on the holding lengths and investment status, and thus cannot be estimated in advance.
The total amount of fees and other expenses to be borne by investors varies, depending on the holding lengths and investment status, and thus cannot be shown. (5) Tax Treatment The fund is treated as a specified stock investment trust (tokutei kabushiki toushi-shintaku) for tax purposes. Publicly offered stock investment trusts are subject to the tax-free small amount investment savings accounts system under the taxation law. i) Individual Unitholders 1) Taxation upon sale of Units Gains on sale (transfer gains) are deemed to be transfer income and a tax return will have to be filed as the gains need to be declared for separate taxation at 20.315% (15.315% income tax and 5% local tax). When a unitholder has chosen a designated account with tax withheld (an account with tax withheld at the taxpayer’s option), tax is withheld at source at a tax rate of 20.315% (15.315% income tax and 5% local tax). (As a general rule, tax filing is not necessary.) 2) Taxation upon receipt of income distributions Income distributions are deemed to be dividend income and tax will be withheld at source at a tax rate of 20.315% (15.315% income tax and 5% local tax). (As a general rule, tax filing is not necessary.) You can also file a tax return, and choose either separated taxation upon declaration or consolidated taxation (to which tax credits apply).
*By filing a tax return, you can offset losses upon sale (capital losses) against capital gains from listed stocks, dividends etc. from listed stocks, and interest income from public and 23
corporate bonds and such like (as long as separated taxation has been chosen upon declaration). In addition, gains on sale (capital gains), income distributions, and interest income from public and corporate bonds etc. (if separated taxation has been chosen upon declaration) can be offset against capital losses from listed stocks and such like. *When investing through a NISA, income gains and capital gains from the investments in Publicly-offered Equity Investment Trusts will be tax-free for five years if the investments have been newly purchased within 1 million yen (1.2 million yen from 2016 onward) per year. Investors need to meet certain conditions, such as aged 20 or above, having opened a tax-free account at a Distributor. In addition, when investing through a Junior NISA for those under 20 years old and domiciled in Japan, income gains and capital gains from the investments in Publicly-offered Equity Investment Trusts will be tax-free for the next five years as long as the newly purchased investment amount is less than 0.8 million yen every year. For further details, please contact a Distributor.
3) Exchanges between Units and shares of stocks Exchanges of Units with shares of stocks are also deemed to be transfers of Units and treated the same way as sales of Units. ii) Corporate Unitholders 1) Taxation upon sale of Units The difference between the sales price of the Units and their acquisition cost is combined with other corporate income and taxed. 2) Taxation upon receipt of income distributions Income distributions are deemed to be dividend income and tax will be withheld at source at a tax rate of 15.315% (income tax only). The distributions taxed together with other corporate income. Income distributions are subject to exclusion from gross revenue. The limit is the same as that for stock dividends. 3) Exchanges between Units and shares of stocks Exchanges of Units with shares of stocks are also deemed to be transfers of Units and treated the same way as sales of Units. * The above is as of October 7, 2016 and tax rates and other tax treatment may change in the event that tax laws are revised. It is recommended that you consult with a professional tax advisor for details regarding tax treatment.
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5. Status of Investment Portfolio
Listed Index Fund TOPIX The following investment status was current as of July 29, 2016: The investment ratio of an asset is its ratio to the total net assets of the fund, valued at market price.
(1) Investment Status
Total Market Value Investment Ratio Type of Invested Assets Country/Region (in yen) (%)
Stocks Japan 1,264,057,570,910 99.70
Call loans, etc. and other assets (after ― 3,774,190,582 0.30 deduction for liabilities) Total (Total Net Assets) 1,267,831,761,492 100.00
Investment Status of Other Assets
Total Market Value Investment Ratio Type of Invested Assets Type Country/Region (in yen) (%)
Stock Price Index Long 3,772,940,000 0.30 Japan Futures Trading position
Note: Futures trading are valued at either the clearing price or the closing price, published by the primary exchange.
(2) Invested Assets i) Major Securities Investment a. Details of Securities with the Highest Market Values
Qty. or Total Unit Book Price Unit Market Value Investment Ratio Country/ Type Stock Industry Book Value (yen) Market Value (yen) Region Par Value (yen) (yen) (%)
Japan Stock Toyota Motor Transportation 8,031,800 5,062.96 40,664,718,838 5,894.00 47,339,429,200 3.73 Equipment Japan Stock Mitsubishi Banks 51,139,600 429.54 21,966,916,784 522.00 26,694,871,200 2.11 UFJ Financial Group Japan Stock Nippon Information & 4,926,700 4,830.54 23,798,650,540 4,881.00 24,047,222,700 1.90 Telegraph Communication and Telephone Japan Stock SoftBank Information & 3,611,400 5,402.30 19,509,879,920 5,703.00 20,595,814,200 1.62 Communication
Japan Stock KDDI Information & 6,305,300 3,135.32 19,769,163,040 3,145.00 19,830,168,500 1.56 Communication
Japan Stock Sumitomo Banks 5,103,900 2,779.29 14,185,224,375 3,308.00 16,883,701,200 1.33 Mitsui Financial Group
Japan Stock Honda Motor Transportation 5,811,600 2,480.15 14,413,658,652 2,841.50 16,513,661,400 1.30 Equipment Japan Stock Japan Foods 4,011,100 4,289.05 17,203,808,455 4,025.00 16,144,677,500 1.27 Tobacco
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Japan Stock Mizuho Banks 90,665,800 142.26 12,898,936,444 167.10 15,150,255,180 1.19 Financial Group Japan Stock SONY Electric Appliances 4,557,200 3,015.01 13,740,020,321 3,282.00 14,956,730,400 1.18 Japan Stock NTT Information & 4,762,600 2,795.59 13,314,276,950 2,749.50 13,094,768,700 1.03 DOCOMO Communication Japan Stock Astellas Pharmaceutical 7,342,500 1,604.44 11,780,600,700 1,721.50 12,640,113,750 1.00 Pharma
Japan Stock Takeda Pharmaceutical 2,694,200 4,256.34 11,467,446,199 4,588.00 12,360,989,600 0.97 Pharmaceuti cal
Japan Stock Seven & i Retail Trade 2,666,100 4,082.81 10,885,189,856 4,303.00 11,472,228,300 0.90 Holdings
Japan Stock Fanuc Electric Appliances 654,700 15,523.47 10,163,215,809 17,325.00 11,342,677,500 0.89
Japan Stock East Japan Land Transport 1,180,300 9,342.25 11,026,665,380 9,485.00 11,195,145,500 0.88 Railway
Japan Stock Central Land Transport 578,200 18,078.23 10,452,835,977 19,220.00 11,113,004,000 0.88 Japan Railway
Japan Stock KEYENCE Electric Appliances 146,300 70,751.17 10,350,896,910 72,920.00 10,668,196,000 0.84
Japan Stock Tokio Marine Insurance 2,582,400 3,258.78 8,415,492,770 4,040.00 10,432,896,000 0.82 Holdings
Japan Stock Canon Electric Appliances 3,477,100 2,804.94 9,753,086,244 2,935.00 10,205,288,500 0.80
Japan Stock Kao Chemicals 1,718,400 5,828.99 10,016,536,416 5,553.00 9,542,275,200 0.75
Japan Stock Mitsubishi Real Estate 4,738,000 1,730.18 8,197,594,030 1,929.00 9,139,602,000 0.72 Estate
Japan Stock Nissan Motor Transportation 8,804,700 920.22 8,102,261,034 1,012.00 8,910,356,400 0.70 Equipment
Japan Stock Murata Electric Appliances 681,200 10,497.21 7,150,700,000 12,825.00 8,736,390,000 0.69 Manufacturi ng
Japan Stock Shin-Etsu Chemicals 1,213,100 5,905.87 7,164,421,994 7,064.00 8,569,338,400 0.68
Japan Stock Nintendo Other Products 397,700 16,370.71 6,510,634,816 21,505.00 8,552,538,500 0.67
Japan Stock Mitsubishi Wholesale Trade 4,782,900 1,749.84 8,369,334,926 1,778.50 8,506,387,650 0.67 Corp.
Japan Stock Daikin Machinery 940,300 8,041.49 7,561,420,443 9,012.00 8,473,983,600 0.67 Industries Japan Stock Mitsubishi Electric Appliances 6,890,000 1,110.05 7,648,306,560 1,217.50 8,388,575,000 0.66 Electric
Japan Stock Bridgestone Rubber Products 2,282,500 3,144.53 7,177,393,672 3,601.00 8,219,282,500 0.65
b. Investment Ratios by Type and Industry
Investment Domestic/ Type Industry Ratio International (%) Stock Domestic Fishery, Agriculture & Forestry 0.11 Mining 0.28 Construction 3.31 Foods 5.08 Textiles & Apparels 0.74 Pulp & Paper 0.26 Chemicals 6.23 Pharmaceutical 5.75
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Oil & Coal Products 0.46 Rubber Products 0.86 Glass & Ceramics Products 0.93 Iron & Steel 1.15 Nonferrous Metals 0.87 Metal Products 0.66 Machinery 4.81 Electric Appliances 11.94 Transportation Equipment 9.56 Precision Instruments 1.51 Other Products 1.78 Electric Power & Gas 1.88 Land Transport 4.57 Marine Transportation 0.21 Air Transportation 0.59 Warehousing & Harbor Transportation Services 0.20 Information & Communication 8.40 Wholesale Trade 4.05 Retail Trade 4.88 Banks 7.51 Securities and Commodities Futures 1.00 Insurance 2.40 Other Financing Business 1.27 Real Estate 2.61 Services 3.86 Total 99.70
ii) Real Estate Properties Invested In N/A
iii) Other Major Assets Invested In
Type of Contract Market Value Investment Invested Stock Exchange Stock Name Type Qty. Currency Value, Etc. (yen) Ratio (%) Assets (yen)
Stock Osaka Stock TOPIX futures Long 284 JPY 3,489,850,380 3,772,940,000 0.30 Price Exchange 2016-09 position Index Futures Trading
Note: Futures trading are valued at either the clearing price or the closing price, published by the primary exchange.
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(3) Past Performance i) Changes in Net Assets
Total Net Assets (million yen) Net Asset Value per Unit (yen) TSE Quoted Period Ex-dividend With dividend Ex-dividend With dividend Price (yen)
As of the end of the July 8, 6th calculation 826,215 834,364 1,787.47 1,805.10 1,785 2007 period
As of the end of the July 8, 7th calculation 334,805 344,173 1,275.18 1,310.86 1,275 2008 period
As of the end of the July 8, 8th calculation 185,742 190,837 875.94 899.97 874 2009 period
As of the end of the July 8, 9th calculation 226,138 229,413 850.67 862.99 851 2010 period
As of the end of the 10th calculation July 8, 2011 259,711 264,533 865.65 881.72 868 period
As of the end of the July 8, 11th calculation 378,397 384,822 768.54 781.59 769 2012 period
As of the end of the July 8, 12th calculation 602,953 612,496 1,173.87 1,192.45 1,174 2013 period
As of the end of the July 8, 13th calculation 2014 790,486 803,304 1,280.23 1,300.99 1,281 period As of the end of the July 8, 14th calculation 2015 1,238,974 1,255,990 1,593.91 1,615.80 1,595 period As of the end of the July 8, 15th calculation 2016 1,149,571 1,173,804 1,217.26 1,242.92 1,216 period As of the end of July 2015 1,319,507 ― 1,671.50 ― 1,668 As of the end of August 2015 1,246,986 ― 1,548.33 ― 1,546 As of the end of September 1,161,999 ― 1,432.23 ― 1,431 2015 As of the end of October 2015 1,278,473 ― 1,581.42 ― 1,581 As of the end of November 1,302,979 ― 1,603.85 ― 1,605 2015 As of the end of December 2015 1,325,914 ― 1,572.13 ― 1,572 As of the end of January 2016 1,286,667 ― 1,455.04 ― 1,461 As of the end of February 2016 1,191,247 ― 1,318.88 ― 1,319 As of the end of March 2016 1,242,751 ― 1,381.91 ― 1,381 As of the end of April 2016 1,235,076 ― 1,374.82 ― 1,375
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As of the end of May 2016 1,287,286 ― 1,415.58 ― 1,413 As of the end of June 2016 1,204,768 ― 1,279.89 ― 1,281 As of the end of July 2016 1,267,831 ― 1,330.79 ― 1,330
Note: When the last day of a calculation period fell on a day when the Tokyo Stock Exchange (TSE) was closed, the closing price on the exchange’s business day immediately preceding the closed day is shown as the TSE Quoted Price.
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ii) Dividends Paid
Calculation Period Period Dividend per Unit (yen)
6th Jul. 9, 2006 – Jul. 8, 2007 17.6300
7th Jul. 9, 2007 – Jul. 8, 2008 35.6800
8th Jul. 9, 2008 – Jul. 8, 2009 24.0300
9th Jul. 9, 2009 – Jul. 8, 2010 12.3200
10th Jul. 9, 2010 – Jul. 8, 2011 16.0700
11th Jul. 9, 2011 – Jul. 8, 2012 13.0500
12th Jul. 9, 2012 – Jul. 8, 2013 18.5800
13th Jul. 9, 2013 – Jul. 8, 2014 20.7600
14th Jul. 9, 2014 – Jul. 8, 2015 21.8900
15th Jul. 9, 2015 – Jul. 8, 2016 25.6600
iii) Past Returns
Calculation Period Period Returns (%)
6th Jul. 9, 2006 – Jul. 8, 2007 14.48
7th Jul. 9, 2007 – Jul. 8, 2008 (26.66)
8th Jul. 9, 2008 – Jul. 8, 2009 (29.42)
9th Jul. 9, 2009 – Jul. 8, 2010 (1.48)
10th Jul. 9, 2010 – Jul. 8, 2011 3.65
11th Jul. 9, 2011 – Jul. 8, 2012 (9.71)
12th Jul. 9, 2012 – Jul. 8, 2013 55.16
13th Jul. 9, 2013 – Jul. 8, 2014 10.83
14th Jul. 9, 2014 – Jul. 8, 2015 26.21
15th Jul. 9, 2015 – Jul. 8, 2016 (22.02)
Note: The returns for each calculation period were obtained by first adding the Net Asset Value per Unit (ex dividends) as of the end of the calculation period and the dividends for the relevant calculation period and then deducting the Net Asset Value per Unit as of the end of the calculation period immediately preceding the relevant calculation period (ex dividends; hereinafter referred to as the “the Net Asset Value per Unit as of the end of the preceding calculation period”), and then dividing the difference by the Net Asset Value per Unit as of the end of the preceding calculation period, and multiplying the result by 100.
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iv) Past Creation and Cancellation
Number of Units Number of Units Calculation Period Period Created Cancelled (Units) (Units)
6th Jul. 9, 2006 – Jul. 8, 2007 149,980,000 134,094,553
7th Jul. 9, 2007 – Jul. 8, 2008 75,019,000 274,688,561
8th Jul. 9, 2008 – Jul. 8, 2009 53,938,000 104,444,518
9th Jul. 9, 2009 – Jul. 8, 2010 127,653,000 73,867,906
10th Jul. 9, 2010 – Jul. 8, 2011 72,871,300 38,684,676
11th Jul. 9, 2011 – Jul. 8, 2012 263,649,600 71,312,149
12th Jul. 9, 2012 – Jul. 8, 2013 199,396,100 178,109,648
13th Jul. 9, 2013 – Jul. 8, 2014 216,920,100 113,108,630
14th Jul. 9, 2014 – Jul. 8, 2015 337,726,500 177,866,039
15th Jul. 9, 2015 – Jul. 8, 2016 240,119,800 73,043,677
Note: The number of units cancelled represents the number of units exchanged.
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(Referenced Material)
End of July 2006～End of July 2016
Net Asset Value per Unit··················133,079 yen Total Net Assets····················1,267.8 billion yen
*The Net Asset Value per Unit is the price per 100 Units after management and administration fees (trust fees) have been deducted. *The index for the Net Asset Value per Unit of reinvested dividends is based on the Net Asset Value per Unit as of the end of July 2006. *Please note that the Net Asset Value per Unit of reinvested dividends are theoretical values calculated under the presumption that the fund has had dividend performance for the past 10 years and such dividend (pretax) has been reinvested.
July 2012 July 2013 July 2014 July 2015 July 2016 Cumulative 1,305 yen 1,858 yen 2,076 yen 2,189 yen 2,566 yen 26,451 yen
Cash and Others 0.30%
Note: Ratios are against total net assets.
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*The fund’s annual rates of return are calculated under the presumption that the dividends (pretax) have been reinvested. *The ratio for 2016 shows the fluctuation rate up until the end of July 2016
*The fund’s past performances only represent past results and do not guarantee future investment results. *The fund’s investment status is also disclosed on the Management Company’s website.
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II. Administration and Operation 1. Procedures for Subscription (Sale), Etc. i) Subscription Method Investors wishing to purchase Units may do so by surrendering shares of stocks they own in accordance with the method specified by the respective Distributors. The composition of such shares of stocks must correspond to the ratio of the shares of stocks comprising TOPIX as determined by the Management Company. Investors also pay fees that are set independently by the Distributors, as well as an amount equal to the consumption taxes levied on such fees. Such payments are due at the time of applying for subscription. When the market value of the shares surrendered is less than the market value of the number of Units to be acquired (the number of Units requested for purchase times the Net Asset Value per Unit as of the date on which the application is accepted), a cash payment may be used strictly to make up for the difference. When an investor applying to purchase Units is the issuer of a stock that is included in the TOPIX or such an issuer’s subsidiary (as defined in Article 2, Item 3 of the Companies Act; the subsidiary is to be hereinafter referred to jointly with the issuing corporation as an “Issuing Company, Etc.”), the portion of the shares required for its subscription that pertains to the stock of the Issuing Company, Etc. may be paid in cash in the amount equal to the market value of such shares. The fund is listed on the Tokyo Stock Exchange. The Management Company complies with all rules established by the Exchange, and subjects itself to any disciplinary action taken by the Exchange in accordance with its own rules, including suspension of trading or delisting from the Exchange. ii) Acceptance of Applications Applications are accepted on the days Distributors are open for business. iii) Hours of Operation As a general rule, applications that are complete in accordance with the procedures established by the Distributors by 3 p.m. are deemed to have been accepted on the day. When the applicant is the Issuing Company, Etc. of a TOPIX-comprising stock, however, the cut-off time is 2 p.m. Distributors may have different cut-off times and methods for application. Please check with your Distributor for details of specific times and methods. iv) Applications for subscription are not accepted: a. During the four business days starting from the business day prior to the ex- dividend or ex-right day of any TOPIX-comprising stock. b. During the six business days starting from three business days prior to the date on which stocks comprising TOPIX are changed, or the number of their shares changes as the result of a capital increase, decrease, etc. c. During the three business days before the last day of each calculation period (if the last day of the calculation period is a holiday, then during the four business days before the last day of each calculation period). d. During the five business days immediately preceding the termination day of the trust, if the fund terminates its trust.
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e. Any time the Management Company determines that circumstances have developed that could prevent it from making investments in accordance with the basic investment policies set forth in the trust deed, in addition to the days referred to in a. through d. above. Notwithstanding the provisions of a. through d. above, applications for subscription may be accepted on or during the days referred to above if the Management Company determines that the impact of such an acceptance on the trust assets is minimal in light of the condition of the trust assets, fund movements, market trends, etc. v) Blocks of Units for Subscription An application is accepted only in whole-number multiples of the minimum number of Units. The minimum number of Units is the market value of the Unit Shares divided by the Net Asset Value per Unit that is effective on the day the application is accepted (and rounded up to the nearest 100). vi) Suspension and Cancellation of Acceptance The Management Company may suspend the acceptance of applications or cancel the accepted applications when there are causes beyond its control, including the suspension of trading on a stock exchange*, and halting of settlement functions. * Financial instruments exchange as defined in Article 2, Paragraph 16 of the Financial Instruments and Exchange Act, and foreign financial instruments markets as defined in Article 2, Paragraph 8, Item 3-b of the Financial Instruments and Exchange Act.
2 Redemption (Cancellation) Procedures, Etc. i) Cancellation of Units Unitholders may not request cancellation during the trust term. ii) Exchange of Units with Stocks in the Trust Assets a. Any unitholder may request a Distributor designated by the Management Company for an exchange (hereinafter referred to as “Exchange”) of his or her Units whose number is a whole-number multiple of the minimum number of units for which an exchange can be requested with shares of stocks that are equivalent to the Units’ share of the trust assets. The minimum number of Units for which an exchange can be requested means the number of Units specified by the Management Company as the number of Units that, when multiplied by the Net Asset Value per Unit effective on the date the Exchange is requested, would equal the total market value of the shares of stocks comprising TOPIX which the Management Company expects will track TOPIX on the date the Exchange is requested. b. The number of shares of each stock that a unitholder can acquire through an Exchange is the number of shares calculated based on the Net Asset Value per Unit effective on the date the Exchange is requested and shall be a whole-number multiple of the minimum block for trade specified by the financial instruments exchange (hereinafter referred to as the “Minimum Block of Shares Traded on the Exchange”). c. Exchange requests that are accepted by the Management Company by 3 p.m. are treated as having been accepted on the day. When the unitholder is the Issuing Company, Etc. of a TOPIX-comprising stock, however, the cut-off time is 2 p.m. Distributors may have different cut-off times and methods for Exchange requests. Please check with your Distributor for details of specific times and methods. 35
d. At the time of an Exchange, unitholders shall pay fees that are set independently by the Distributors, as well as an amount equal to the consumption taxes levied on such fees. e. Requests for Exchanges are not accepted on the following days or periods: a) During the four business days starting from the business day prior to the ex- dividend or ex-right day of any TOPIX-comprising stock. b) During the six business days starting from three business days prior to the date on which stocks comprising TOPIX are changed, or the number of their shares changes as the result of a capital increase, decrease, etc. c) During the three business days before the last day of each calculation period (if the last day of the calculation period is a holiday, then during the four business days before the last day of each calculation period). d) During the five business days immediately preceding the termination day of the trust, if the fund terminates its trust. e) Any time the Management Company determines that circumstances have developed that could prevent it from investing in accordance with the basic investment policies set forth in the trust deed, in addition to the days referred to in a) through d) above. Notwithstanding the provisions of a) through d) above, requests for Exchanges may be accepted on or during the days referred to above if the Management Company determines that the impact of such an Exchange on the trust assets is minimal in light of the condition of the trust assets, fund movements, market trends, etc. f. In the event that a unitholder requesting an Exchange is the Issuing Company, Etc. of a stock that is included in the Exchange, the Management Company first deducts the number of Units equivalent to the total market value of the shares of the Issuing Company, Etc. from the number of Units accepted for the Exchange, and then exchanges the resulting number of Units with a whole-number multiple of the Minimum Block of Shares Traded on the Exchange (excluding the shares of the Issuing Company, Etc.). g. As a general rule, the Trustee Company begins releasing to a Distributor the shares that belong to the trust assets four business days after a request for an Exchange is made. The Distributor promptly releases the shares received from the Trustee Company to the unitholder after established procedures have been carried out. h. The Management Company may suspend the acceptance of requests for an Exchange or cancel the requests for an Exchange that have been accepted in the event that trading on a stock exchange is suspended, settlement functions are halted, or it determines that there is a possibility that investment in accordance with the basic investment policies set forth in the trust deed will be hindered. i. In the event that acceptance of requests for an Exchange is suspended, unitholders may withdraw their requests for an Exchange that they submit on the day the acceptance is suspended. If unitholders do not withdraw their Exchange requests, however, the requests are treated as if they were accepted on the first day that the Net Asset Value per Unit is calculated following the lifting of the acceptance suspension.
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iii) Buyback of Units a. A unitholder may request a Distributor designated by the Management Company to buy back his or her Units if the total number of Units he or she owns is less than the minimum trading lot for the Units established by the financial instruments exchange. b. As a general rule, requests that are complete in accordance with the procedures established by the Distributors designated by the Management Company by 3 p.m. are deemed to have been accepted on the day. The buyback price of the Units is the Net Asset Value per Unit effective as of the day the buyback is agreed on. c. At the time of a buyback, a unitholder pays his or her Distributor fees that are set independently by the Distributor, as well as an amount equal to the consumption taxes levied on such fees. d. The Distributors designated by the Management Company may suspend buybacks or cancel the buybacks already accepted upon consultation with the Management Company in the event that trading on the financial instruments exchange is suspended, settlement functions are halted, or a circumstance beyond their control develops. e. In the event that acceptance of requests for buybacks is suspended, unitholders may withdraw their requests for buybacks that they submit on the day the acceptance is suspended. If unitholders do not withdraw their requests for buybacks, however, the requests are treated as if they were accepted on the first day that the Net Asset Value per Unit is calculated following the lifting of the acceptance suspension.
3 Overview of Asset Management, Etc. (1) Valuation of Assets i) Calculation of the Net Asset Value per Unit The Net Asset Value per Unit is computed on every business day of the Management Company. The Net Asset Value per Unit means an amount obtained by first calculating the total value of the trust assets by valuing individual assets that comprise the trust assets (excluding securities received in place of cash collateral), deducting total liabilities from the total value, and finally dividing the difference (which is the total net assets) by the total number of Units outstanding on the date the calculation is made. The fund may be shown in an amount that has been converted to per 100 units.
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(a) Total value of the trust assets = All of the securities, etc. included in the fund, valued at market price Total net assets = (a) total value of the trust assets, less (b) total (b) Total liabilities liabilities (expenses and other costs required for managing the Fund) Net Asset Value per Unit = Total net assets divided by the total number of Units as of the calculation date (a) Total value of the trust assets Total net assets Net Asset Value per Unit
(a) − (b)
ii) Basis of Securities Evaluation The assets that are in the trust assets are marked to market in accordance with laws and regulations, as well as the rules of The Investment Trusts Association, Japan.
(2) Custody N/A (3) Trust Term The trust term is unlimited. (The inception occurred on December 20, 2001.) However, the trust may be terminated upon cancellation of the trust deed pursuant to the provisions of the trust deed. (4) Calculation Period Each calculation period runs from July 9 of a given year to July 8 of the following year. (5) Other i) Termination of the Trust (Early Redemption) 1) The Management Company may, with the consent of the Trustee Company, cancel the trust deed and redeem the Units prior to their maturity.
38
2) In such an event, the Management Company must publicly announce its intent for early redemption and the reason for it, and notify all known unitholders in writing in advance. As a general rule, however, public notice is not required when all unitholders are notified in writing. 3) Any unitholder who objects to such early redemption may voice his or her objections within a specified period (to be determined by the Management Company but not to be less than one month; the same applies hereunder). (Please refer to the “Declaration of Objections” that follows.) 4) The Management Company cancels the trust deed and redeems the Units prior to their maturity in any of the following events. In any such event, the provisions of the “Declaration of Objections” that follows are waived. a) The number of Units falls below three million; b) The Units are delisted from all the financial instruments exchanges on which they have been listed; c) TOPIX is abolished; d) Any amendment to the trust deed deemed necessary by the Management Company or the Trustee Company as a result of a change in the calculation method, etc. of TOPIX is not made due to declaration of objections; e) There are truly unavoidable circumstances in view of the status of the trust assets and it is difficult to give a public notice and written notice within a specified period; f) The Management Company receives an order from the supervisory authorities to cancel the trust deed; g) The Management Company’s license is revoked by the supervisory authorities or if the Management Company is liquidated or discontinues its business (excluding cases where the supervisory authorities order that the business of the Management Company under the trust deed be transferred to another management company and, as a result of declaration of objections, amendments to the trust deed are made); or h) The Trustee Company resigns from its duties by obtaining approval from the Management Company or is removed for breach of its duties and the Management Company fails to appoint a new trustee company. 5) Prior to the actual early redemption, the Management Company must notify the supervisory authorities of its intent to so do. ii) Amendments to the Trust Deed 1) The Management Company may, upon agreement with the Trustee Company, amend the trust deed. When amending the trust deed, the Management Company must notify the supervisory authorities of its intent for amendment in advance. 2) When any such amendment has significant implications, the Management Company must publicly announce its intent for such an amendment and its content, and notify all known unitholders in writing in advance. As a general rule, however, public notice is not required when all unitholders are notified in writing. 3) Any unitholder opposing such an amendment to the trust deed may raise his or her objections within a certain period. (Please refer to the “Declaration of Objections” that follows.)
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4) The provisions of the “Declaration of Objections” that follow apply when the Management Company amends the trust deed, due to an order by the supervisory authorities. iii) Declaration of Objections 1) Unitholders may voice their objections to an early redemption or a significant amendment to the trust deed to the Management Company within a set period in accordance with prescribed procedures. In the event that the number of Units of the unitholders raising their objections within the set period exceeds half of the total number of Units, no early redemption or amendment to the trust deed may be executed. 2) In the event that the Management Company decides against an early redemption or an amendment to the trust deed, it must publicly announce its intent and the reason for the decision, and notify all known unitholders in writing. As a general rule, however, public notice is not required when all unitholders are notified in writing. 3) In the event that the number of Units of the unitholders raising objections within the set period does not exceed half of the total number of Units and the Management Company proceeds with an early redemption or an amendment to the trust deed, the unitholders raising objections may request the Trustee Company to buy back their Units by applying the trust assets.
ory
Objectors do not
constitute majority (based on the
number of Units)
deed
objection objection
acceptance
authorities
for
Early redemption Early
request acceptance request
report to the supervis the to report
End of buyback request request buyback of End
Amendment to the trust trust the to Amendment
notice
A A
n notice n Commencement of buyback buyback of Commencement
Period for objection acceptance
acceptance Writte Public Public Objectors constitute Redemption or (at least 1 month) majority amendment is aborted (based on the Public Notice End of the period period the of End number of Units) Written Notice
iv) Public Notice Public notices are published in The Nikkei. v) Exchanges upon Trust Termination, Etc. 1) In the event that the fund terminates its trust, unitholders who hold the number of Units necessary for an Exchange are given in lieu of such Units shares of stocks that correspond to their Units’ share in the trust assets at the time of trust termination in exchange for the book-entry transfer Units listed or recorded in the book-entry transfer account book. 2) Exchanges are handled by the Distributors designated by the Management Company. 3) The number of shares of each stock that unitholders acquire is the number of shares computed based on the redemption value, and is a whole-number multiple of the Minimum Block of Shares Traded on the Exchange. 4) Unitholders pay fees that are independently established by the Distributors and an amount equal to the consumption taxes levied on such fees at the time of the Exchange.
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5) In the event that a unitholder is an Issuing Company, Etc. of a stock that comprises TOPIX, his or her Units that are equal in value to the total market value of the shares of the Issuing Company, Etc. are repaid in the form of cash. 6) A unitholder who does not hold the number of Units necessary for an Exchange requests a Distributor designated by the Management Company to buy back his or her Units at the redemption price. In such an event, the unitholder pays fees that are independently established by the Distributor and an amount equal to the consumption taxes levied on such fees. 7) In the event that a unitholder does not make any request for an Exchange with stocks or a repayment in cash for a buyback within ten years following the termination of the trust, his or her rights are forfeited and revert to the Management Company. vi) Preparation of Investment Report Pursuant to the Act on Investment Trusts and Investment Corporations, investment reports will not be prepared or delivered. vii) Agreements with Affiliated Corporations The effective term of an agreement on the handling of offerings, etc. entered into with a Distributor shall be one year from the date of such agreement. However, such agreement shall be automatically renewed for one year and so on thereafter if neither the Distributor nor the Management Company manifests intentions to the contrary three months prior to the expiration date.
4 Unitholders’ Rights, Etc. Primary rights of unitholders are as follows: i) Right to receive income dividends Unitholders are determined through name registration procedures and such unitholders receive payment of income distribution. The fund’s income distributions are paid to unitholders whose names are registered with the Trustee Company as of the last day of the calculation period. The unitholders may register their names via handling companies. Unitholders whose names or corporate names and addresses are registered with the Trustee Company as of the last day of the calculation period are entitled to receive an income distribution of the fund that is in proportion to the number of Units they have registered. Unitholders whose names are not registered with the Trustee Company as of the last day of the calculation period are not entitled to receive income distributions even if they are owners of beneficiary certificates. If a unitholder fails to claim an income distribution within five years from the date of commencement of payment thereof, such right will be forfeited and such money will revert to the Management Company. ii) Right to exchange Units with shares held in the trust assets Unitholders may request to exchange a minimum of a certain number of Units with shares held in the trust assets equivalent to their interests. However, if a unitholder fails to request for an exchange with shares or a repayment in cash for a buyback which are the results of termination of the trust within ten years from such termination of the trust, such rights are forfeited and revert to the Management Company
41
iii) Right to request a buyback of Units A unitholder may request a Distributor to buy back his or her Units if the total number of Units he or she owns is less than the minimum trading lot for the Units established by the financial instruments exchange. iv) Right to examine books A unitholder may make a request to the Management Company to examine the books and documents for the fund’s trust assets during the business hours of the Management Company.
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III. Financial Condition of the Fund
(1) The Financial Statements of the fund are prepared in accordance with the Ordinance on Terminology, Forms and Preparation Methods of Financial Statements, etc. (Ministry of Finance Ordinance No. 59 of 1963; hereinafter referred to as “Financial Statements Regulation”) and the Ordinance on Accountings of Investment Trust Property (Cabinet Office Ordinance No. 133 of 2000), pursuant to the provisions of Article 2-2 of the Financial Statements Regulation. The Financial Statements are stated in Japanese yen. (2) Pursuant to Article 193-2 Paragraph 1 of the Financial Instruments and Exchange Act, the Fund’s Financial Statements for the 15th calculation period (from July 9, 2015 to July 8, 2016) have been audited by PricewaterhouseCoopers Aarata LLC.
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Independent Auditors’ Report
August 3, 2016
The Board of Directors Nikko Asset Management Co., Ltd.
PricewaterhouseCoopers Aarata LLC Designated Limited Liability Certified Public Accountant Partner Mitsuo Tsuruta Engagement Partner
Designated Limited Liability Certified Public Accountant Partner Kazunori Tsujimura Engagement Partner
We have audited the financial statements, comprising the balance sheet, the statement of profit and loss and retained earnings and the related notes, and the supplementary schedules for Listed Index Fund TOPIX for the calculation period from July 9, 2015 to July 8, 2016 shown in “Financial Condition of the Fund” to provide audit certification in accordance with Article 193-2, Paragraph 1, of the Financial Instruments and Exchange Act.
Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in Japan, and to establish and operate for such internal control system as management determines is necessary to enable preparation and fair presentation of the financial statements that are free from material misstatements, whether due to fraud or error.
Auditors’ Responsibility Our responsibility is to express an opinion on the financial statements based on our audit as independent auditor. We conducted our audit in accordance with the auditing standards generally accepted in Japan. Those standards require that we develop an audit plan and conduct the audit based on it to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosure in the financial statements. The procedures are selected and applied depend on our judgment, based on the assessment of the risks of material misstatement in the financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, while the purpose of the financial statements audit is not to express an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Auditors’ Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the status of trust assets as of July 8, 2016 and the status of profit and loss in the calculation period ending July 8, 2016 of Listed Index Fund TOPIX, in accordance with accounting principles generally accepted in Japan.
Interest Our firm and engagement partners have no interest in the Nikko Asset Management Co., Ltd. and the fund which should be disclosed pursuant to the provisions of the Certified Public Accountants Act.
(Note) The above is a digitized copy prepared by the Company based on the original of the audit report, and the original has been retained separately by the Company. 44
45
1 Financial Statements
Listed Index Fund TOPIX
(1) Balance Sheet (Unit: yen) 14th Year 15th Year As of July 8, 2015 As of July 8, 2016 Assets Current Assets Money in trust - 112,096,462,452 Call loans 75,642,990,660 11,848,654,378 Stocks 1,235,855,856,242 1,146,640,991,470 Receivables 11,427,425,710 15,195,700,550 Dividends receivable 1,165,966,167 1,652,636,568 Interest receivable 14,148 - Prepaied expenses 132,706,000 882,281,000 Other accrued income 42,800,748 97,548,566 Total Current Assets 1,324,267,759,675 1,288,414,274,984 Total Assets 1,324,267,759,675 1,288,414,274,984 Liabilities Current Liabilities Valuation account of derivatives 174,412,920 123,408,680 Accounts payable 303,425,320 912,220,840 Dividends payable 17,015,469,173 24,233,127,587 Trustee fees payable 325,692,116 443,705,561 Trustor fees payable 656,532,018 875,254,979 Interest payable 673,745 17,396 Cash collateral held 66,672,678,187 112,096,462,452 Other accrued expenses 144,035,942 158,675,167 Total Current Liabilities 85,292,919,421 138,842,872,662 Total Liabilities 85,292,919,421 138,842,872,662 Net Assets Principal, etc. Principal 774,985,050,994 941,559,945,625 Retained Earnings Retained earnings (loss) at the 463,989,789,260 208,011,456,697 end of the year (Reserve for distribution) 17,779,527 40,360,286 Total Principal, Etc. 1,238,974,840,254 1,149,571,402,322 Total Net Assets 1,238,974,840,254 1,149,571,402,322 Total Liabilities and Net Assets 1,324,267,759,675 1,288,414,274,984
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(2) Statement of Profit and Loss and Retained Earnings (Unit: yen) 14th Calculation Period 15th Calculation Period From July 9, 2014 From July 9, 2015 To July 8, 2015 To July 8, 2016 Operating Revenue Dividend income 17,472,080,131 24,867,638,572 Interest income 14,109,140 6,276,473 Gain or loss on sales of securities 193,984,553,903 (331,530,181,101) Gain or loss on derivative trading 1,187,032,184 (960,876,640) Other income 833,700,336 1,118,522,863 Total operating revenue 213,491,475,694 (306,498,619,833) Operating Expenses Interest paid 11,858,326 - Trustee fees 325,692,116 443,705,561 Trustor fees 656,532,018 875,254,979 Other expenses 304,234,968 417,769,022 Total operating expenses 1,298,317,428 1,736,729,562 Operating income or operating loss 212,193,158,266 (308,235,349,395) Ordinary income or ordinary loss 212,193,158,266 (308,235,349,395) Net Income or Net Loss for the Period 212,193,158,266 (308,235,349,395) Distribution of net income for the period ancillary to partial conversions or distribution of net loss - - for the year ancillary to partial conversions Retained earnings or loss at the beginning of the 174,882,233,381 463,989,789,260 period An increase in retained earnings or a decrease in 167,646,434,233 109,530,533,340 loss An increase in retained earnings or a decrease in loss ancillary to partial conversions during - - the period An increase in retained earnings or a decrease in loss ancillary to additional trust creations 167,646,434,233 109,530,533,340 during the period A decrease in retained earnings or an increase in 73,716,567,447 33,040,388,921 loss A decrease in retained earnings or an increase in loss ancillary to partial conversions during 73,716,567,447 33,040,388,921 the period A decrease in retained earnings or an increase in loss ancillary to additional trust creations - - during the period Distribution 17,015,469,173 24,233,127,587 Retained earnings (loss) at the end of the year 463,989,789,260 208,011,456,697
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(3) Notes
(Notes regarding Significant Accounting Policies)
1. Standards and methods of Stocks are valued at fair market value in principle, based on the moving securities valuation average method as stated below. (1) Securities Listed on a Stock Exchange As a general rule, securities that are listed on a stock exchange are valued at the closing price on the exchange on the last day of the calculation period (or the closing price on the closest known day to the last day of the calculation period for foreign currency-denominate securities). (2) Securities Not Listed on a Stock Exchange As a general rule, these securities are valued at a price obtained from either the OTC Trading Reference Statistical Data (average price), etc., published by the Japan Securities Dealers Association; or prices offered by financial instruments business operators, banks, etc. (excluding bid prices); or prices offered by price providing companies (3) Securities for which Fair Market Value Could Not Be Obtained When fair market value is not available or when there is a reason to believe that an obtained assessment value cannot be determined to be the market value, the securities are valued at either the price that the Investment Trust Management Company establishes to be the market value by exercising due diligence and by basing its determination on a rational reason, or the value that is determined to be the market value jointly by the Investment Trust Management Company and the Trustee upon mutual consultation and based on a rational reason. 2. Standards and methods of Derivatives Transactions derivatives evaluation As a general rule, derivatives transactions are valued at fair market value, based on the specific identification method.
(Notes to the Balance Sheet)
14th Year 15th Year
As of July 8, 2015 As of July 8, 2016 1. Principal at the beginning of the year 615,604,171,377 yen 774,985,050,994 yen Additional creation of principal during the year 336,713,320,500 yen 239,399,440,600 yen Partial conversion of principal during the year 177,332,440,883 yen 72,824,545,969yen 2. Total number of beneficial interests 777,317,002 units 944,393,125 units 3. Pledged assets Assets pledged as collateral in the form of collateral securities deposited as margin in relation to derivatives transactions are as follows: Stocks 2,203,896,010 yen 1,346,157,590 yen 4. Securities loaned under lending and borrowing contracts for securities are as follows: Stocks 62,240,036,600 yen 104,562,200,130 yen
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(Notes to Statement of Profit and Loss and Retained Earnings)
14th Year 15th Year From July 9, 2014 From July 9, 2015 To July 8, 2015 To July 8, 2016 Process for calculation of dividends Process for calculation of dividends A Dividends and other income for 18,308,031,281 yen A Dividends and other income for 25,992,437,908yen the period the period B Reserve for distribution 11,676,521 yen B Reserve for distribution 17,779,52 yen C Total dividends and other 18,319,707,802 yen C Total dividends and other 26,010,217,435 yen income (A+B) income (A+B) D Miscellaneous expenses 1,286,459,102 yen D Miscellaneous expenses 1,736,729,562 yen E Possible amount of dividend (C- 17,033,248,700 yen E Possible amount of dividend (C- 24,273,487,873 yen D) D) F Profit distribution 17,015,469,173 yen F Profit distribution 24,233,127,587 yen G Carry forward (Reserve for 17,779,527 yen G Carry forward (Reserve for 40,360,286 yen distribution) (E-F) distribution) (E-F) H Number of units 777,317,002 units H Number of units 944,393,125 units I Dividend amount (per unit) 2,189 yen I Dividend amount (per unit) 2,566 yen (per 100 units) (per 100 units)
(Notes Regarding Financial Instruments) I Matters concerning the state of financial instruments
14th Year 15th Year From July 9, 2014 From July 9, 2015 To July 8, 2015 To July 8, 2016 Policy on handling of financial The fund makes investments in instruments financial instruments such as securities and derivative transactions as Same as left securities investment trusts based on the basic investment policy prescribed in the trust deed. Details of financial instruments and Major securities in which the fund risk involved in financial instruments invests are securities stated in the “Standards and methods of securities valuation” of the “Notes regarding Significant Accounting Policies,” and all the securities are held for the purpose of trading. Major derivative transactions include futures Same as left transactions and option contracts, etc. and may be carried out to contribute to the effective investment of assets belonging to trust assets. Price fluctuation risk, liquidity risk and credit risk, etc. are involved in the securities and derivative transactions concerned according to their nature. Risk management system for The Risk Management Department, an financial instruments organization independent from Management Division and the Sales Same as left Division, is established to centralize the monitoring and guidance of the entire company’s risk management activities.
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II Matters concerning the fair market value, etc. of financial instruments
14th Year 15th Year As of July 8, 2015 As of July 8, 2016 Amount recorded on balance sheet, Amounts are recorded on the balance fair market value and difference sheet based on fair market values as of Same as left between them the end of the fiscal year, and there is therefore no difference between them. Method of calculation of fair market (1) Securities (1) Securities value Securities held for the purpose of trading: Stated in the “Standards and methods Same as left of securities valuation” of the “Notes regarding Significant Accounting Policies” (2) Derivative transactions (2) Derivative transactions Stated in the “Notes regarding Same as left derivative transactions, etc.” (3) Financial instruments other than (3) Financial instruments other than the above the above These financial instruments will be settled within a short period of time, and their fair market values approximate their book values. The fair Same as left market value of these financial instruments is therefore determined as their book value. Supplementary explanations The fair market values of financial regarding the matters concerning the instruments include values based on fair market value, etc. of financial market prices, and if market prices are instruments not available, reasonably calculated Same as left values. Certain assumptions, etc. are used to calculate the values. If different assumptions, etc. are used, the values may be different.
(Notes Regarding Securities) 14th year (as of July 8, 2015) Securities held for the purpose of trading
(Unit: yen)
Valuation difference included in the profit and loss of the calculation Type period under review Stocks 171,163,503,125 Total 171,163,503,125
15th year (as of July 8, 2016) Securities held for the purpose of trading
(Unit: yen)
Valuation difference included in the profit and loss of the calculation Type period under review Stocks (314,546,716,481) Total (314,546,716,481)
(Notes Regarding Derivative Transactions, etc.) Matters concerning the fair market value, etc. of transactions
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(Stock-related) 14th year (as of July 8, 2015)
(Unit: yen)
Contracted amount, Category Type Fair market value Valuation difference etc. Longer than one year Market Stock index transaction futures transactions New purchase 3,292,806,000 3,118,500,000 (174,306,000) Total 3,292,806,000 3,118,500,000 (174,306,000)
15th year (as of July 8, 2016)
(Unit: yen)
Contracted amount, Category Type Fair market value Valuation difference etc. Longer than one year Market Stock index transaction futures transactions New purchase 3,053,898,000 2,930,620,000 (123,278,000) Total 3,053,898,000 2,930,620,000 (123,278,000)
(Note) 1. Method for calculation of fair market value The fair market values of stock index futures transactions are assessed as follows: In principle, the fair market values of stock index futures transactions are assessed based on liquidation prices or closing prices announced by a principal stock exchange on the closest known day to the last day of the calculation period. Where such prices have not been announced, the fair market values of stock index futures transactions are assessed based on closing prices or quoted prices, etc. that are closest to the last day of the calculation period, using a method conforming to the principle. 2. The outstanding balance of stock index futures transactions is indicated based on contracted amounts. 3. Contracted amounts, etc. do not include an amount equivalent to fees. 4. The amount shown in the column of the total contracted amount, etc. or fair market value shows the total of the contracted amount, etc. or fair market value, respectively.
(Notes Regarding Transactions with Related Parties) There is no applicable item.
(Information per unit)
14th Year 15th Year As of July 8, 2015 As of July 8, 2016 Net assets per unit 1,593.91 yen Net assets per unit 1,217.26 yen (Net assets per 100 units) (159,391 yen) (Net assets per 100 units) (121,726 yen)
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(4) Supplementary Schedules 1 Schedule of Securities (1) Stocks (Unit: yen)
Number of Valuation Name shares Unit Price Amount Remarks KYOKUYO CO.,LTD. Loaned securities 304,000 257.00 78,128,000 216,000 shares
NIPPON SUISAN KAISHA,LTD. 826,600 500.00 413,300,000 MARUHA NICHIRO CORPORATION Loaned securities 146,500 2,698.00 395,257,000 100 shares KANEKO SEEDS CO., LTD. Loaned securities 24,700 1,318.00 32,554,600 17,200 shares
SAKATA SEED CORPORATION 105,800 2,142.00 226,623,600
HOKUTO CORPORATION 72,900 1,845.00 134,500,500 HOKURYO CO., LTD Loaned securities 7,600 844.00 6,414,400 5,300 shares SUMISEKI HOLDINGS,INC. Loaned securities 213,400 79.00 16,858,600 80,600 shares
NITTETSU MINING CO.,LTD. 198,000 312.00 61,776,000
MITSUI MATSUSHIMA CO.,LTD. 469,000 95.00 44,555,000
INPEX CORPORATION 3,778,600 741.50 2,801,831,900 JAPAN DRILLING CO.,LTD. Loaned securities 21,400 2,108.00 45,111,200 14,900 shares
JAPAN PETROLEUM EXPLORATION CO.,LTD. 113,600 1,948.00 221,292,800
K&O ENERGY GROUP INC. 48,300 1,252.00 60,471,600 SHO-BOND HOLDINGS CO.,LTD. Loaned securities 75,200 4,480.00 336,896,000 53,300 shares MIRAIT HOLDINGS CORPORATION Loaned securities 220,700 1,072.00 236,590,400 2,800 shares TAMA HOME CO.,LTD. Loaned securities 53,400 423.00 22,588,200 36,000 shares
SANYO HOMES CORPORATION 15,300 473.00 7,236,900 DAISEKI ECO.SOLUTION CO.,LTD. Loaned securities 16,700 987.00 16,482,900 5,200 shares HAZAMA ANDO CORPORATION Loaned securities 478,500 547.00 261,739,500 211,000 shares TOKYU CONSTRUCTION CO., LTD. Loaned securities 233,400 929.00 216,828,600 53,500 shares
COMSYS HOLDINGS CORPORATION 308,300 1,636.00 504,378,800 MISAWA HOMES CO.,LTD. Loaned securities 84,600 672.00 56,851,200 59,600 shares
Br. Holdings Corporation 27,900 393.00 10,964,700
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TAKAMATSU CONSTRUCTION GROUP CO.,LTD. Loaned securities 54,100 2,361.00 127,730,100 5,300 shares
TOKEN CORPORATION 29,500 8,000.00 236,000,000
SONEC CORPORATION 7,800 581.00 4,531,800 YAMAURA CORPORATION Loaned securities 34,400 520.00 17,888,000 200 shares
TAISEI CORPORATION 3,725,000 811.00 3,020,975,000 OBAYASHI CORPORATION Loaned securities 2,151,200 1,045.00 2,248,004,000 495,100 shares SHIMIZU CORPORATION Loaned securities 2,194,000 931.00 2,042,614,000 133,000 shares TOBISHIMA CORPORATION Loaned securities 576,200 160.00 92,192,000 354,300 shares
HASEKO CORPORATION 837,100 928.00 776,828,800
MATSUI CONSTRUCTION CO.,LTD. 79,000 1,067.00 84,293,000
THE ZENITAKA CORPORATION 102,000 296.00 30,192,000
KAJIMA CORPORATION 3,363,000 694.00 2,333,922,000 FUDO TETRA CORPORATION Loaned securities 507,000 154.00 78,078,000 338,200 shares
DAISUE CONSTRUCTION CO.,LTD. 27,500 880.00 24,200,000 TEKKEN CORPORATION Loaned securities 436,000 275.00 119,900,000 204,000 shares NISHIMATSU CONSTRUCTION CO.,LTD. Loaned securities 829,000 480.00 397,920,000 8,000 shares SUMITOMO MITSUI CONSTRUCTION CO., LTD. Loaned securities 2,747,100 84.00 230,756,400 52,600 shares DAIHO CORPORATION Loaned securities 277,000 462.00 127,974,000 100,000 shares MAEDA CORPORATION Loaned securities 442,000 785.00 346,970,000 10,000 shares SATA CONSTRUCTION CO.,LTD. Loaned securities 50,300 351.00 17,655,300 1,400 shares
NAKANO CORPORATION 55,300 382.00 21,124,600
OKUMURA CORPORATION 681,000 546.00 371,826,000
TOTETSU KOGYO CO.,LTD. 86,100 2,857.00 245,987,700 ICHIKEN CO.,LTD. Loaned securities 77,000 245.00 18,865,000 40,000 shares
ASANUMA CORPORATION 229,000 198.00 45,342,000 TODA CORPORATION Loaned securities 834,000 436.00 363,624,000 200,000 shares
KUMAGAI GUMI CO.,LTD. 1,051,000 280.00 294,280,000
ASUNARO AOKI CONSTRUCTION CO.,LTD. 46,900 617.00 28,937,300
KITANO CONSTRUCTION CORP., 149,000 239.00 35,611,000
UEKI CORPORATION 86,000 205.00 17,630,000 53
MITSUI HOME CO.,LTD. 89,000 419.00 37,291,000
YAHAGI CONSTRUCTION CO.,LTD. 97,600 800.00 78,080,000 P.S. MITSUBISHI CONSTRUCTION CO., LTD. Loaned securities 84,700 353.00 29,899,100 18,100 shares NIHON HOUSE HOLDINGS CO.,LTD. Loaned securities 147,700 307.00 45,343,900 77,100 shares
DAITO TRUST CONSTRUCTION CO.,LTD. 263,900 16,255.00 4,289,694,500 SHINNIHON CORPORATION Loaned securities 85,400 764.00 65,245,600 10,000 shares NIPPO CORPORATION Loaned securities 166,000 1,694.00 281,204,000 2,000 shares
TOA ROAD CORPORATION 134,000 251.00 33,634,000 MAEDA ROAD CONSTRUCTION CO.,LTD. Loaned securities 224,000 1,748.00 391,552,000 10,000 shares THE NIPPON ROAD CO.,LTD. Loaned securities 212,000 371.00 78,652,000 73,000 shares TOA CORPORATION Loaned securities 629,000 153.00 96,237,000 115,000 shares WAKACHIKU CONSTRUCTION CO.,LTD. Loaned securities 412,000 136.00 56,032,000 105,000 shares TOYO CONSTRUCTION CO.,LTD. Loaned securities 225,000 417.00 93,825,000 20,000 shares
PENTA-OCEAN CONSTRUCTION CO.,LTD. 795,900 518.00 412,276,200
OBAYASHI ROAD CORPORATION 83,600 609.00 50,912,400
SEIKITOKYU KOGYO CO.,LTD. 112,900 473.00 53,401,700 FUKUDA CORPORATION Loaned securities 116,000 968.00 112,288,000 47,000 shares
SUMITOMO FORESTRY CO.,LTD. 493,700 1,420.00 701,054,000
JAPAN FOUNDATION ENGINEERING CO.,LTD. 80,600 318.00 25,630,800 NISSEI BUILD KOGYO CO.,LTD. Loaned securities 197,000 570.00 112,290,000 50,000 shares YAMADA SXL HOME CO.,LTD. Loaned securities 373,000 67.00 24,991,000 203,000 shares TOMOE CORPORATION Loaned securities 90,000 322.00 28,980,000 2,100 shares PANAHOME CORPORATION Loaned securities 268,000 796.00 213,328,000 30,000 shares DAIWA HOUSE INDUSTRY CO.,LTD. Loaned securities 2,118,800 2,757.50 5,842,591,000 271,300 shares
RAITO KOGYO CO.,LTD. 137,900 1,049.00 144,657,100 SEKISUI HOUSE,LTD. Loaned securities 2,398,100 1,653.00 3,964,059,300 17,600 shares
NITTOC CONSTRUCTION CO.,LTD. 79,800 383.00 30,563,400 HOKURIKU ELECTRICAL CONSTRUCTION CO.,LTD. 35,500 675.00 23,962,500
54
YURTEC CORPORATION 113,000 661.00 74,693,000
SEIBU ELECTRIC INDUSTRY CO.,LTD. 59,000 407.00 24,013,000
YONDENKO CORPORATION 54,000 378.00 20,412,000 CHUDENKO CORPORATION Loaned securities 103,600 1,968.00 203,884,800 5,500 shares KANDENKO CO.,LTD. Loaned securities 286,000 855.00 244,530,000 10,000 shares
KINDEN CORPORATION 433,500 1,094.00 474,249,000
TOKYO ENERGY & SYSTEMS INC. 79,000 985.00 77,815,000
TOENEC CORPORATION 101,000 533.00 53,833,000
SUMITOMO DENSETSU CO.,LTD. 56,600 1,130.00 63,958,000
NIPPON DENSETSU KOGYO CO.,LTD. 116,900 1,676.00 195,924,400 KYOWA EXEO CORPORATION Loaned securities 281,000 1,284.00 360,804,000 46,000 shares
SHIN NIPPON AIR TECHNOLOGIES CO.,LTD. 60,300 1,019.00 61,445,700
NDS CO.,LTD. 112,000 249.00 27,888,000 KYUDENKO CORPORATION Loaned securities 131,300 3,050.00 400,465,000 88,600 shares SANKI ENGINEERING CO.,LTD. Loaned securities 159,000 783.00 124,497,000 10,400 shares JGC CORPORATION Loaned securities 720,900 1,439.00 1,037,375,100 5,000 shares
CHUGAI RO CO.,LTD. 216,000 210.00 45,360,000
YAMATO CORPORATION 63,900 522.00 33,355,800
TAIHEI DENGYO KAISHA,LTD. 105,000 1,055.00 110,775,000 TAKASAGO THERMAL ENGINEERING CO.,LTD. Loaned securities 213,800 1,180.00 252,284,000 2,200 shares
SANKO METAL INDUSTRIAL CO.,LTD. 70,000 283.00 19,810,000
ASAHI KOGYOSHA CO.,LTD. 79,000 491.00 38,789,000
MEISEI INDUSTRIAL CO.,LTD. 129,600 460.00 59,616,000
TAIKISHA LTD. 87,700 2,436.00 213,637,200
DAI-DAN CO.,LTD. 96,000 738.00 70,848,000
HIBIYA ENGINEERING,LTD. 86,200 1,526.00 131,541,200 TOSHIBA PLANT SYSTEMS & SERVICES Loaned securities CORPORATION 116,500 1,648.00 191,992,000 79,200 shares OSJB HOLDINGS CORPORATION Loaned securities 145,600 181.00 26,353,600 36,700 shares
TOYO ENGINEERING CORPORATION 383,000 324.00 124,092,000
CHIYODA CORPORATION 517,000 665.00 343,805,000
SHINKO PLANTECH CO.,LTD. 147,300 720.00 106,056,000
NIPPON FLOUR MILLS CO.,LTD. 459,000 796.00 365,364,000 55
NISSHIN SEIFUN GROUP INC. Loaned securities 786,500 1,645.00 1,293,792,500 2,700 shares
NITTO FUJI FLOUR MILLING CO.,LTD. 55,000 332.00 18,260,000
SHOWA SANGYO CO.,LTD. 295,000 448.00 132,160,000
THE TORIGOE CO.,LTD. 56,700 663.00 37,592,100
CHUBU SHIRYO CO.,LTD. 66,700 675.00 45,022,500
FEED ONE CO., LTD. 430,600 113.00 48,657,800
TOYO SUGAR REFINING CO.,LTD. 108,000 100.00 10,800,000 NIPPON BEET SUGAR MANUFACTURING CO.,LTD. 365,000 182.00 66,430,000
MITSUI SUGAR CO.,LTD. 282,000 480.00 135,360,000
ENSUIKO SUGAR REFINING CO.,LTD. 75,900 219.00 16,622,100 NISSIN SUGAR CO. , LTD. Loaned securities 30,600 1,379.00 42,197,400 4,500 shares
MORINAGA & CO.,LTD. 646,000 690.00 445,740,000
NAKAMURAYA CO.,LTD. 166,000 460.00 76,360,000 EZAKI GLICO CO.,LTD. Loaned securities 165,600 6,200.00 1,026,720,000 4,100 shares
MEITO SANGYO CO.,LTD. 31,600 1,293.00 40,858,800 FUJIYA CO.,LTD. Loaned securities 411,000 193.00 79,323,000 280,000 shares
YAMAZAKI BAKING CO.,LTD. 525,400 2,927.00 1,537,845,800
FIRST BAKING CO.,LTD. 108,000 107.00 11,556,000 MOROZOFF LIMITED Loaned securities 109,000 421.00 45,889,000 77,000 shares
KAMEDA SEIKA CO.,LTD. 39,900 5,860.00 233,814,000 KOTOBUKI SPIRITS CO.,LTD. Loaned securities 51,000 3,360.00 171,360,000 34,300 shares CALBEE,INC. Loaned securities 265,900 4,300.00 1,143,370,000 59,600 shares
MORINAGA MILK INDUSTRY CO.,LTD. 643,000 759.00 488,037,000
ROKKO BUTTER CO.,LTD. 32,000 2,313.00 74,016,000 YAKULT HONSHA CO.,LTD. Loaned securities 384,600 4,875.00 1,874,925,000 119,800 shares
MEIJI HOLDINGS CO.,LTD. 424,900 10,560.00 4,486,944,000
MEGMILK SNOW BRAND CO.,LTD. 168,800 3,660.00 617,808,000
PRIMA MEAT PACKERS,LTD. 452,000 310.00 140,120,000 NH FOODS LTD. Loaned securities 527,000 2,517.00 1,326,459,000 38,000 shares HAYASHIKANE SANGYO CO.,LTD. Loaned securities 227,000 83.00 18,841,000 100,000 shares
MARUDAI FOOD CO.,LTD. 369,000 473.00 174,537,000
56
S FOODS INC. Loaned securities 44,900 2,822.00 126,707,800 30,100 shares ITOHAM YONEKYU HOLDINGS INC. Loaned securities 428,400 1,052.00 450,676,800 1,000 shares
SAPPORO HOLDINGS LIMITED 219,300 2,964.00 650,005,200 ASAHI GROUP HOLDINGS,LTD. Loaned securities 1,345,700 3,366.00 4,529,626,200 8,200 shares
KIRIN HOLDINGS COMPANY,LIMITED 2,906,800 1,778.50 5,169,743,800
TAKARA HOLDINGS INC. 519,200 929.00 482,336,800
OENON HOLDINGS,INC. 194,000 195.00 37,830,000
YOMEISHU SEIZO CO.,LTD. 22,000 1,702.00 37,444,000
COCA-COLA WEST COMPANY,LIMITED 243,000 2,902.00 705,186,000
COCA-COLA EAST JAPAN CO.,LTD. 253,800 1,957.00 496,686,600 SUNTORY BEVERAGE & FOOD LIMITED Loaned securities 491,300 4,620.00 2,269,806,000 13,900 shares DYDO DRINCO, INC. Loaned securities 36,200 5,530.00 200,186,000 4,600 shares ITO EN,LTD. Loaned securities 212,800 3,930.00 836,304,000 144,100 shares
KEY COFFEE INC 63,100 1,864.00 117,618,400 UNICAFE INC. Loaned securities 19,500 867.00 16,906,500 11,300 shares JAPAN FOODS CO.,LTD. Loaned securities 8,900 1,158.00 10,306,200 500 shares
THE NISSHIN OILLIO GROUP,LTD. 379,000 484.00 183,436,000
FUJI OIL HOLDINGS INC 191,500 2,046.00 391,809,000 KADOYA SESAME MILLS INCORPORATED Loaned securities 6,900 2,942.00 20,299,800 900 shares
J-OIL MILLS, INC. 300,000 342.00 102,600,000 KIKKOMAN CORPORATION Loaned securities 544,000 3,800.00 2,067,200,000 6,000 shares
AJINOMOTO CO.,INC. 1,508,500 2,479.50 3,740,325,750
KEWPIE CORPORATION 364,900 3,350.00 1,222,415,000 HOUSE FOODS GROUP INC. Loaned securities 245,100 2,416.00 592,161,600 5,000 shares KAGOME CO.,LTD. Loaned securities 257,400 2,707.00 696,781,800 164,800 shares YAIZU SUISANKAGAKU INDUSTRY CO.,LTD. Loaned securities 33,600 982.00 32,995,200 500 shares
ARIAKE JAPAN CO.,LTD. 58,700 6,010.00 352,787,000 PIETRO Loaned securities 7,400 1,677.00 12,409,800 5,100 shares
EBARA FOODS INDUSTRY,INC. 17,300 1,855.00 32,091,500
NICHIREI CORPORATION 764,000 952.00 727,328,000 57
TOYO SUISAN KAISHA,LTD. 352,600 4,165.00 1,468,579,000
EAT&CO.,LTD 7,800 1,976.00 15,412,800
NISSIN FOODS HOLDINGS CO.,LTD. 303,500 5,520.00 1,675,320,000 NAGATANIENHOLDINGS CO., LTD Loaned securities 67,000 1,198.00 80,266,000 6,000 shares ICHIMASA KAMABOKO CO.,LTD. Loaned securities 25,000 1,054.00 26,350,000 15,100 shares FUJICCO CO.,LTD. Loaned securities 69,600 2,978.00 207,268,800 19,600 shares
ROCK FIELD CO.,LTD. 74,600 1,536.00 114,585,600 JAPAN TOBACCO INC. Loaned securities 4,240,300 4,289.00 18,186,646,700 51,800 shares
KENKO MAYONNAISE CO.,LTD. 23,300 3,305.00 77,006,500 WARABEYA NICHIYO CO.,LTD. Loaned securities 38,500 2,181.00 83,968,500 11,000 shares
NATORI CO.,LTD. 35,900 1,514.00 54,352,600
KITANOTATSUJIN CORPORATION 13,100 476.00 6,235,600 EUGLENA CO.,LTD. Loaned securities 229,800 1,364.00 313,447,200 163,500 shares
MIYOSHI OIL & FAT CO.,LTD. 244,000 115.00 28,060,000 RIKEN VITAMIN CO.,LTD. Loaned securities 21,100 4,905.00 103,495,500 14,200 shares
KATAKURA INDUSTRIES CO.,LTD. 84,000 1,080.00 90,720,000
GUNZE LIMITED 542,000 272.00 147,424,000
TOYOBO CO.,LTD. 2,655,000 196.00 520,380,000 UNITIKA LTD. Loaned securities 1,952,000 57.00 111,264,000 2,000 shares
FUJIBO HOLDINGS,INC. 326,000 238.00 77,588,000
KURABO INDUSTRIES LTD. 676,000 167.00 112,892,000
SHIKIBO LTD. 412,000 100.00 41,200,000
THE JAPAN WOOL TEXTILE CO.,LTD. 206,300 682.00 140,696,600 DAITO WOOLEN SPINNING & WEAVING COMPANY,LIMITED 94,000 62.00 5,828,000 TOABO CORPORATION Loaned securities 29,700 454.00 13,483,800 5,000 shares DAIDOH LIMITED Loaned securities 74,400 419.00 31,173,600 9,000 shares
TEIKOKU SEN-I CO.,LTD. 70,000 1,283.00 89,810,000
TEIJIN LIMITED 2,740,000 355.00 972,700,000
TORAY INDUSTRIES,INC. 4,864,000 882.00 4,290,048,000
SAKAI OVEX CO.,LTD. 175,000 132.00 23,100,000
SUMINOE TEXTILE CO.,LTD. 168,000 179.00 30,072,000
58
NIPPON FELT COMPANY LIMITED 36,000 451.00 16,236,000
ICHIKAWA CO.,LTD. 44,000 260.00 11,440,000 NITTO SEIMO CO.,LTD. Loaned securities 72,000 162.00 11,664,000 25,000 shares ASHIMORI INDUSTRY CO.,LTD. Loaned securities 146,000 153.00 22,338,000 1,000 shares
ATSUGI CO.,LTD. 516,000 105.00 54,180,000
DYNIC CORPORATION 128,000 149.00 19,072,000 SEIREN CO.,LTD. Loaned securities 167,000 906.00 151,302,000 9,400 shares
TOKAI SENKO K.K. 93,000 112.00 10,416,000
KOMATSU SEIREN CO.,LTD. 102,800 666.00 68,464,800
WACOAL HOLDINGS CORP. 399,000 1,010.00 402,990,000 HOGY MEDICAL CO.,LTD. Loaned securities 42,200 7,060.00 297,932,000 17,600 shares RENOWN INCORPORATED Loaned securities 183,300 104.00 19,063,200 123,800 shares KURAUDIA CO.,LTD. Loaned securities 15,100 492.00 7,429,200 10,000 shares TSI HOLDINGS CO.,LTD. Loaned securities 299,200 529.00 158,276,800 10,000 shares SANYO SHOKAI LTD. Loaned securities 376,000 187.00 70,312,000 197,000 shares NAIGAI CO.,LTD. Loaned securities 255,000 40.00 10,200,000 70,000 shares ONWARD HOLDINGS CO.,LTD. Loaned securities 434,000 604.00 262,136,000 301,000 shares LOOK INCORPORATED Loaned securities 121,000 126.00 15,246,000 73,000 shares KIMURATAN CORPORATION Loaned securities 2,843,000 6.00 17,058,000 11,000 shares GOLDWIN INC. Loaned securities 28,400 4,510.00 128,084,000 18,600 shares
DESCENTE,LTD. 152,900 1,043.00 159,474,700
KING CO.,LTD. 33,900 343.00 11,627,700
YAMATO INTERNATIONAL INC. 41,500 385.00 15,977,500 TOKUSHU TOKAI PAPER CO.,LTD. Loaned securities 390,000 356.00 138,840,000 30,000 shares
OJI HOLDINGS CORPORATION 2,621,000 384.00 1,006,464,000 NIPPON PAPER INDUSTRIES CO.,LTD. Loaned securities 346,600 1,801.00 624,226,600 210,200 shares MITSUBISHI PAPER MILLS LIMITED Loaned securities 1,022,000 66.00 67,452,000 350,000 shares
HOKUETSU KISHU PAPER CO.,LTD. 416,100 738.00 307,081,800 CHUETSU PULP & PAPER CO.,LTD. 265,000 200.00 53,000,000 Loaned securities
59
153,000 shares TOMOEGAWA CO.,LTD. Loaned securities 105,000 168.00 17,640,000 14,000 shares DAIO PAPER CORPORATION Loaned securities 296,900 1,120.00 332,528,000 199,700 shares RENGO CO.,LTD. Loaned securities 593,000 693.00 410,949,000 5,000 shares
TOMOKU CO.,LTD. 210,000 287.00 60,270,000
THE PACK CORPORATION 47,500 2,631.00 124,972,500 KURARAY CO.,LTD. Loaned securities 1,058,000 1,201.00 1,270,658,000 42,300 shares
ASAHI KASEI CORPORATION 4,182,000 698.50 2,921,127,000
KYOWA LEATHER CLOTH CO.,LTD. 43,900 751.00 32,968,900 SHOWA DENKO K.K. Loaned securities 446,300 909.00 405,686,700 39,100 shares
SUMITOMO CHEMICAL COMPANY,LIMITED 4,936,000 396.00 1,954,656,000 NIPPON KASEI CHEMICAL COMPANY LIMITED Loaned securities 128,000 101.00 12,928,000 21,000 shares SUMITOMO SEIKA CHEMICALS Loaned securities COMPANY,LIMITED. 140,000 590.00 82,600,000 76,000 shares
NISSAN CHEMICAL INDUSTRIES,LTD. 400,500 3,070.00 1,229,535,000 RASA INDUSTRIES,LTD. Loaned securities 251,000 91.00 22,841,000 16,000 shares
KUREHA CORPORATION 505,000 359.00 181,295,000 TAKI CHEMICAL CO.,LTD. Loaned securities 42,000 640.00 26,880,000 28,000 shares
TAYCA CORPORATION 112,000 444.00 49,728,000
ISHIHARA SANGYO KAISHA,LTD. 1,204,000 59.00 71,036,000
KATAKURA & CO-OP AGRI CORPORATION 78,000 193.00 15,054,000
NITTOFC CO., LTD 39,100 814.00 31,827,400 NIPPON SODA CO.,LTD. Loaned securities 433,000 385.00 166,705,000 3,000 shares
TOSOH CORPORATION 1,809,000 438.00 792,342,000 TOKUYAMA CORPORATION Loaned securities 1,112,000 286.00 318,032,000 82,000 shares
CENTRAL GLASS CO.,LTD. 726,000 419.00 304,194,000
TOAGOSEI CO.,LTD. 419,800 941.00 395,031,800 OSAKA SODA CO.,LTD. Loaned securities 289,000 418.00 120,802,000 180,000 shares KANTO DENKA KOGYO CO.,LTD. Loaned securities 160,000 1,033.00 165,280,000 112,000 shares
DENKA COMPANY LTD. 1,389,000 400.00 555,600,000
SHIN-ETSU CHEMICAL CO.,LTD. 1,202,500 5,901.00 7,095,952,500
60
NIPPON CARBIDE INDUSTRIES Loaned securities COMPANY,INCORPORATED 228,000 130.00 29,640,000 1,000 shares
SAKAI CHEMICAL INDUSTRY CO.,LTD. 271,000 263.00 71,273,000
AIR WATER INC. 553,000 1,460.00 807,380,000
TAIYO NIPPON SANSO CORPORATION 516,500 863.00 445,739,500
NIPPON CHEMICAL INDUSTRIAL CO.,LTD. 248,000 193.00 47,864,000 NIHON PARKERIZING CO.,LTD. Loaned securities 342,600 1,093.00 374,461,800 48,000 shares
KOATSU GAS KOGYO CO.,LTD. 99,000 627.00 62,073,000 TITAN KOGYO KABUSHIKI KAISHA Loaned securities 77,000 160.00 12,320,000 25,000 shares
SHIKOKU CHEMICALS CORPORATION 97,000 765.00 74,205,000 TODA KOGYO CORP. Loaned securities 134,000 265.00 35,510,000 70,000 shares STELLA CHEMIFA CORPORATION Loaned securities 34,200 3,425.00 117,135,000 1,500 shares HODOGAYA CHEMICAL CO.,LTD. Loaned securities 200,000 258.00 51,600,000 123,000 shares
NIPPON SHOKUBAI CO.,LTD. 97,300 5,740.00 558,502,000 DAINICHISEIKA COLOR & CHEMICALS MFG.CO.,LTD. 259,000 403.00 104,377,000
KANEKA CORPORATION 904,000 654.00 591,216,000 MITSUBISHI GAS CHEMICAL COMPANY,INC. Loaned securities 1,153,000 506.00 583,418,000 5,000 shares
MITSUI CHEMICALS,INC. 2,844,000 351.00 998,244,000 JSR CORPORATION Loaned securities 629,100 1,328.00 835,444,800 20,000 shares TOKYO OHKA KOGYO CO.,LTD. Loaned securities 134,500 2,464.00 331,408,000 15,500 shares
OSAKA ORGANIC CHEMICAL INDUSTRY LTD. 48,800 537.00 26,205,600 MITSUBISHI CHEMICAL HOLDINGS CORPORATION 4,490,800 445.70 2,001,549,560 THE NIPPON SYNTHETIC CHEMICAL Loaned securities INDUSTRY CO.,LTD. 157,000 499.00 78,343,000 10,000 shares
DAICEL CORPORATION 904,200 983.00 888,828,600 SUMITOMO BAKELITE COMPANY,LIMITED Loaned securities 591,000 447.00 264,177,000 3,000 shares
SEKISUI CHEMICAL CO.,LTD. 1,522,000 1,274.00 1,939,028,000 ZEON CORPORATION Loaned securities 565,000 625.00 353,125,000 393,000 shares AICA KOGYO COMPANY,LIMITED Loaned securities 201,500 2,273.00 458,009,500 400 shares UBE INDUSTRIES,LTD. Loaned securities 3,589,000 163.00 585,007,000 251,000 shares
SEKISUI JUSHI CORPORATION 103,500 1,437.00 148,729,500 61
TAKIRON CO.,LTD. 156,000 439.00 68,484,000
ASAHI YUKIZAI CORPORATION 216,000 188.00 40,608,000
HITACHI CHEMICAL COMPANY,LTD. 331,300 1,812.00 600,315,600
NICHIBAN CO.,LTD. 65,000 745.00 48,425,000 RIKEN TECHNOS CORPORATION Loaned securities 144,400 404.00 58,337,600 97,500 shares
OKURA INDUSTRIAL CO.,LTD. 161,000 268.00 43,148,000
SEKISUI PLASTICS CO.,LTD. 172,000 297.00 51,084,000 GUN EI CHEMICAL INDUSTRY CO.,LTD. Loaned securities 179,000 281.00 50,299,000 1,000 shares
TIGERS POLYMER CORPORATION 33,400 477.00 15,931,800 MIRAIAL CO.,LTD. Loaned securities 24,300 724.00 17,593,200 9,700 shares
DAIKI AXIS CO.,LTD. 12,700 802.00 10,185,400 DAIKYONISHIKAWA CORPORATION Loaned securities 86,300 1,126.00 97,173,800 52,000 shares
NIPPON KAYAKU CO.,LTD. 435,000 916.00 398,460,000
CARLIT HOLDINGS CO.,LTD. 62,900 452.00 28,430,800
NIPPON FINE CHEMICAL CO.,LTD. 55,600 736.00 40,921,600 FUSO CHEMICAL CO., LTD. Loaned securities 42,600 1,517.00 64,624,200 2,200 shares
ADEKA CORPORATION 329,700 1,161.00 382,781,700
NOF CORPORATION 503,000 803.00 403,909,000 NEW JAPAN CHEMICAL CO.,LTD. Loaned securities 105,700 131.00 13,846,700 70,400 shares
HARIMA CHEMICALS GROUP,INC. 57,100 477.00 27,236,700
KAO CORPORATION 1,803,200 5,827.00 10,507,246,400
DKS CO.LTD. 150,000 313.00 46,950,000
NIITAKA CO., LTD. 9,800 1,312.00 12,857,600
SANYO CHEMICAL INDUSTRIES,LTD. 210,000 755.00 158,550,000 DAI NIPPON TORYO COMPANY,LIMITED Loaned securities 384,000 181.00 69,504,000 100,000 shares NIPPON PAINT HOLDINGS CO.,LTD. Loaned securities 517,400 2,320.00 1,200,368,000 162,000 shares KANSAI PAINT CO.,LTD. Loaned securities 758,600 1,927.00 1,461,822,200 516,300 shares
SHINTO PAINT COMPANY,LIMITED 48,000 160.00 7,680,000
CHUGOKU MARINE PAINTS,LTD. 192,000 598.00 114,816,000
NIHON TOKUSHU TORYO CO.,LTD. 46,900 988.00 46,337,200
FUJIKURA KASEI CO.,LTD. 91,100 535.00 48,738,500 TAIYO HOLDINGS CO.,LTD. 49,100 2,956.00 145,139,600 Loaned securities
62
10,000 shares
DIC CORPORATION 264,800 2,078.00 550,254,400
SAKATA INX CORPORATION 136,900 1,130.00 154,697,000
TOYO INK SC HOLDINGS CO.,LTD. 663,000 413.00 273,819,000
T&K TOKA CO.,LTD. 48,900 797.00 38,973,300
FUJIFILM HOLDINGS CORPORATION 1,534,400 3,724.00 5,714,105,600
SHISEIDO COMPANY,LIMITED 1,272,100 2,885.50 3,670,644,550 LION CORPORATION Loaned securities 773,000 1,689.00 1,305,597,000 12,000 shares
TAKASAGO INTERNATIONAL CORPORATION 44,100 2,695.00 118,849,500
MANDOM CORPORATION 62,400 4,710.00 293,904,000
MILBON CO.,LTD. 39,500 4,705.00 185,847,500 FANCL CORPORATION Loaned securities 155,500 1,404.00 218,322,000 99,300 shares
KOSE CORPORATION 108,400 8,590.00 931,156,000
COTA CO.,LTD. 22,700 1,109.00 25,174,300 CI:Z HOLDINGS CO., LTD. Loaned securities 84,400 2,281.00 192,516,400 50,600 shares
C'BON COSMETICS CO.,LTD. 7,500 2,060.00 15,450,000 POLA ORBIS HOLDINGS INC. Loaned securities 68,300 9,700.00 662,510,000 100 shares NOEVIR HOLDINGS CO.,LTD. Loaned securities 42,300 3,160.00 133,668,000 300 shares
ADJUVANT COSME JAPAN CO.,LTD. 12,400 887.00 10,998,800
S.T.CORPORATION 45,900 1,121.00 51,453,900 AGRO-KANESHO CO.,LTD. Loaned securities 25,900 1,029.00 26,651,100 9,300 shares KONISHI CO.,LTD. Loaned securities 105,200 1,268.00 133,393,600 5,000 shares
T.HASEGAWA CO.,LTD. 84,900 1,785.00 151,546,500 SEIKO PMC CORPORATION Loaned securities 36,600 999.00 36,563,400 24,900 shares
KOBAYASHI PHARMACEUTICAL CO.,LTD. 202,900 4,430.00 898,847,000
ARAKAWA CHEMICAL INDUSTRIES,LTD. 57,600 899.00 51,782,400 MEC COMPANY LTD. Loaned securities 51,900 856.00 44,426,400 31,500 shares
JAPAN PURE CHEMICAL CO.,LTD. 18,600 2,013.00 37,441,800
TAKARA BIO INC. 143,600 1,351.00 194,003,600 JCU CORPORATION Loaned securities 19,600 3,005.00 58,898,000 2,000 shares NITTA GELATIN INC. Loaned securities 43,900 760.00 33,364,000 4,200 shares
63
OAT AGRIO CO., LTD. Loaned securities 7,700 1,236.00 9,517,200 2,500 shares DEXERIALS CORPORATION Loaned securities 200,400 699.00 140,079,600 73,700 shares EARTH CHEMICAL CO.,LTD. Loaned securities 48,200 4,960.00 239,072,000 22,500 shares IHARA CHEMICAL INDUSTRY CO.,LTD. Loaned securities 103,000 916.00 94,348,000 23,300 shares
HOKKO CHEMICAL INDUSTRY CO.,LTD. 70,000 273.00 19,110,000 TAISEI LAMICK CO.,LTD. Loaned securities 18,800 2,783.00 52,320,400 300 shares KUMIAI CHEMICAL INDUSTRY CO.,LTD. Loaned securities 138,300 563.00 77,862,900 84,900 shares NIHON NOHYAKU CO.,LTD. Loaned securities 153,100 455.00 69,660,500 89,700 shares
ACHILLES CORPORATION 547,000 124.00 67,828,000
ARISAWA MFG.CO.,LTD. 99,800 491.00 49,001,800
NITTO DENKO CORPORATION 518,100 6,173.00 3,198,231,300
LEC,INC. 20,600 1,790.00 36,874,000 KIMOTO CO.,LTD. Loaned securities 108,900 147.00 16,008,300 10,500 shares FUJIMORI KOGYO CO.,LTD. Loaned securities 57,500 1,873.00 107,697,500 5,600 shares
MAEZAWA KASEI INDUSTRIES CO.,LTD. 46,800 991.00 46,378,800 JSP CORPORATION Loaned securities 43,900 1,930.00 84,727,000 7,200 shares
FP CORPORATION 59,400 5,050.00 299,970,000
TENMA CORPORATION 49,800 1,494.00 74,401,200 SHIN-ETSU POLYMER CO.,LTD. Loaned securities 131,600 578.00 76,064,800 35,000 shares
TOLI CORPORATION 173,000 281.00 48,613,000 NIFCO INC. Loaned securities 128,200 5,190.00 665,358,000 2,900 shares
NIPPON VALQUA INDUSTRIES,LTD. 260,000 255.00 66,300,000 UNICHARM CORPORATION Loaned securities 1,357,400 2,060.50 2,796,922,700 125,500 shares
KYOWA HAKKO KIRIN CO.,LTD. 802,100 1,769.00 1,418,914,900 TAKEDA PHARMACEUTICAL COMPANY LIMITED 2,670,600 4,253.00 11,358,061,800 ASTELLAS PHARMA INC. Loaned securities 7,507,600 1,603.50 12,038,436,600 63,600 shares SUMITOMO DAINIPPON PHARMA CO.,LTD. Loaned securities 474,500 1,874.00 889,213,000 327,900 shares
SHIONOGI & CO.,LTD. 977,100 5,539.00 5,412,156,900
MITSUBISHI TANABE PHARMA CORPORATION 781,200 1,834.00 1,432,720,800 64
WAKAMOTO PHARMACEUTICAL CO.,LTD. 76,000 220.00 16,720,000 ASKA PHARMACEUTICAL CO.,LTD. Loaned securities 85,100 1,717.00 146,116,700 28,000 shares NIPPON SHINYAKU CO.,LTD. Loaned securities 153,600 5,320.00 817,152,000 6,800 shares
BIOFERMIN PHARMACEUTICAL CO.,LTD. 10,900 2,708.00 29,517,200
CHUGAI PHARMACEUTICAL CO.,LTD. 667,500 3,680.00 2,456,400,000
KAKEN PHARMACEUTICAL CO.,LTD. 115,500 6,900.00 796,950,000
EISAI CO.,LTD. 825,200 5,509.00 4,546,026,800
ROHTO PHARMACEUTICAL CO.,LTD. 328,100 1,506.00 494,118,600
ONO PHARMACEUTICAL CO.,LTD. 1,522,600 3,952.00 6,017,315,200 HISAMITSU PHARMACEUTICAL CO.,INC. Loaned securities 208,100 6,020.00 1,252,762,000 600 shares
YUKI GOSEI KOGYO CO.,LTD. 42,100 220.00 9,262,000
MOCHIDA PHARMACEUTICAL CO.,LTD. 45,900 8,560.00 392,904,000 SANTEN PHARMACEUTICAL CO.,LTD. Loaned securities 1,234,900 1,635.00 2,019,061,500 58,500 shares
FUSO PHARMACEUTICAL INDUSTRIES,LTD. 224,000 274.00 61,376,000
NIPPON CHEMIPHAR CO.,LTD. 93,000 439.00 40,827,000 TSUMURA & CO. Loaned securities 211,000 2,779.00 586,369,000 141,800 shares
NICHI-IKO PHARMACEUTICAL CO.,LTD. 156,700 1,995.00 312,616,500
KISSEI PHARMACEUTICAL CO.,LTD. 118,700 2,003.00 237,756,100 SEIKAGAKU CORPORATION Loaned securities 124,200 1,601.00 198,844,200 12,100 shares
EIKEN CHEMICAL CO.,LTD. 56,200 2,305.00 129,541,000
NISSUI PHARMACEUTICAL CO.,LTD. 27,200 1,111.00 30,219,200
TORII PHARMACEUTICAL CO.,LTD. 45,800 2,307.00 105,660,600 JCR PHARMACEUTICALS CO.,LTD. Loaned securities 51,600 2,970.00 153,252,000 31,700 shares TOWA PHARMACEUTICAL CO.,LTD. Loaned securities 30,700 4,820.00 147,974,000 6,000 shares
FUJI PHARMA CO.,LTD. 21,300 2,331.00 49,650,300
SAWAI PHARMACEUTICAL CO.,LTD. 113,800 7,920.00 901,296,000 ZERIA PHARMACEUTICAL CO.,LTD. Loaned securities 137,300 1,544.00 211,991,200 3,500 shares
DAIICHI SANKYO COMPANY,LIMITED 2,254,800 2,547.50 5,744,103,000
KYORIN HOLDINGS,INC. 178,800 2,050.00 366,540,000 TAIKO PHARMACEUTICAL CO.,LTD. Loaned securities 33,000 1,591.00 52,503,000 22,000 shares
DAITO PHARMACEUTICAL CO.,LTD. 37,300 2,873.00 107,162,900
65
OTSUKA HOLDINGS CO.,LTD. 1,441,400 4,835.00 6,969,169,000 TAISHO PHARMACEUTICAL HOLDINGS CO.,LTD. 161,200 10,730.00 1,729,676,000
PEPTI DREAM INC Loaned securities 112,100 5,550.00 622,155,000 78,000 shares NIPPON COKE & ENGINEERING COMPANY,LIMITED 540,400 59.00 31,883,600
SHOWA SHELL SEKIYU K.K. 674,100 889.00 599,274,900 NICHIREKI CO.,LTD. Loaned securities 81,700 632.00 51,634,400 16,500 shares TONENGENERAL SEKIYU K.K. Loaned securities 1,011,000 917.00 927,087,000 44,000 shares
YUSHIRO CHEMICAL INDUSTRY CO.,LTD. 35,900 1,323.00 47,495,700 BP CASTROL K.K. Loaned securities 27,400 1,167.00 31,975,800 2,200 shares
FUJI OIL COMPANY,LTD. 155,900 311.00 48,484,900
MORESCO CORPORATION 20,800 1,105.00 22,984,000 IDEMITSU KOSAN CO.,LTD. Loaned securities 349,800 1,954.00 683,509,200 245,400 shares
JX HOLDINGS,INC. 7,936,400 381.00 3,023,768,400
COSMO ENERGY HOLDINGS Loaned securities 202,200 1,172.00 236,978,400 3,000 shares THE YOKOHAMA RUBBER COMPANY,LIMITED Loaned securities 404,400 1,237.00 500,242,800 1,000 shares
TOYO TIRE & RUBBER CO.,LTD. 303,400 1,048.00 317,963,200
BRIDGESTONE CORPORATION 2,262,700 3,140.00 7,104,878,000
SUMITOMO RUBBER INDUSTRIES,LTD. 627,400 1,300.00 815,620,000 FUJIKURA RUBBER LTD. Loaned securities 55,900 464.00 25,937,600 27,500 shares OKAMOTO INDUSTRIES,INC. Loaned securities 203,000 1,116.00 226,548,000 70,000 shares
FUKOKU CO.,LTD. 24,800 708.00 17,558,400
NITTA CORPORATION 72,200 2,257.00 162,955,400 SUMITOMO RIKO COMPANY LIMITED Loaned securities 144,900 802.00 116,209,800 15,000 shares MITSUBOSHI BELTING LTD. Loaned securities 163,000 788.00 128,444,000 6,000 shares
BANDO CHEMICAL INDUSTRIES,LTD. 244,000 467.00 113,948,000 NITTO BOSEKI CO.,LTD. Loaned securities 443,000 342.00 151,506,000 133,000 shares ASAHI GLASS COMPANY,LIMITED Loaned securities 3,538,000 490.00 1,733,620,000 49,000 shares NIPPON SHEET GLASS COMPANY,LIMITED Loaned securities 3,232,000 60.00 193,920,000 1,380,000 shares ISHIZUKA GLASS CO.,LTD. 95,000 148.00 14,060,000 Loaned securities
66
44,000 shares
NIHON YAMAMURA GLASS CO.,LTD. 265,000 153.00 40,545,000
NIPPON ELECTRIC GLASS CO.,LTD. 1,385,000 418.00 578,930,000
OHARA INC. 25,100 486.00 12,198,600
SUMITOMO OSAKA CEMENT CO.,LTD. 1,328,000 448.00 594,944,000 TAIHEIYO CEMENT CORPORATION Loaned securities 4,183,000 248.00 1,037,384,000 427,000 shares
DC CO.,LTD. 62,600 339.00 21,221,400
NIPPON HUME CORPORATION 64,500 524.00 33,798,000 NIPPON CONCRETE INDUSTRIES CO.,LTD. Loaned securities 139,600 280.00 39,088,000 82,800 shares MITANI SEKISAN CO.,LTD. Loaned securities 33,500 2,036.00 68,206,000 2,000 shares
ASIA PILE HOLDINGS Loaned securities 82,300 359.00 29,545,700 28,800 shares TOKAI CARBON CO.,LTD. Loaned securities 581,000 251.00 145,831,000 20,000 shares NIPPON CARBON CO.,LTD. Loaned securities 330,000 181.00 59,730,000 233,000 shares TOYO TANSO CO.,LTD. Loaned securities 37,100 1,252.00 46,449,200 3,000 shares
NORITAKE CO.,LIMITED 378,000 228.00 86,184,000 TOTO LTD. Loaned securities 492,500 3,900.00 1,920,750,000 1,000 shares
NGK INSULATORS,LTD. 846,400 1,918.00 1,623,395,200 NGK SPARK PLUG CO.,LTD. Loaned securities 577,600 1,393.00 804,596,800 64,200 shares DANTO HOLDINGS CORPORATION Loaned securities 76,000 182.00 13,832,000 53,000 shares
MARUWA CO.,LTD. 24,600 3,060.00 75,276,000
SHINAGAWA REFRACTORIES CO.,LTD. 170,000 176.00 29,920,000
KROSAKI HARIMA CORPORATION 145,000 231.00 33,495,000
YOTAI REFRACTORIES CO.,LTD. 38,000 273.00 10,374,000 ISOLITE INSULATING PRODUCTS COMPANY,LIMITED 32,200 183.00 5,892,600
TYK CORPORATION 80,700 148.00 11,943,600
NIKKATO CORPORATION 24,600 355.00 8,733,000 FUJIMI INCORPORATED Loaned securities 59,000 1,435.00 84,665,000 39,900 shares A&A MATERIAL CORPORATION Loaned securities 140,000 77.00 10,780,000 62,000 shares
NICHIAS CORPORATION 344,000 800.00 275,200,000
NICHIHA CORPORATION 89,000 1,549.00 137,861,000
67
NIPPON STEEL & SUMITOMO METAL Loaned securities CORPORATION 3,022,300 1,864.00 5,633,567,200 688,600 shares KOBE STEEL,LTD. Loaned securities 12,313,000 82.00 1,009,666,000 2,342,000 shares NAKAYAMA STEEL WORKS,LTD. Loaned securities 751,000 48.00 36,048,000 379,000 shares
GODO STEEL,LTD. 374,000 148.00 55,352,000 JFE HOLDINGS,INC. Loaned securities 1,831,900 1,242.50 2,276,135,750 669,800 shares
NISSHIN STEEL CO.,LTD. 305,700 1,242.00 379,679,400 TOKYO STEEL MANUFACTURING CO.,LTD. Loaned securities 369,900 558.00 206,404,200 73,000 shares KYOEI STEEL LTD. Loaned securities 71,400 1,556.00 111,098,400 50,200 shares
YAMATO KOGYO CO.,LTD. 148,000 2,194.00 324,712,000
TOKYO TEKKO CO.,LTD. 139,000 350.00 48,650,000
OSAKA STEEL CO.,LTD. 42,000 1,639.00 68,838,000 YODOGAWA STEEL WORKS,LTD. Loaned securities 99,700 2,433.00 242,570,100 2,800 shares
TOYO KOHAN CO.,LTD. 159,800 231.00 36,913,800 MARUICHI STEEL TUBE LTD. Loaned securities 224,200 3,510.00 786,942,000 18,800 shares
MORY INDUSTRIES INC. 107,000 278.00 29,746,000
DAIDO STEEL CO.,LTD. 1,123,000 349.00 391,927,000 NIPPON KOSHUHA STEEL CO.,LTD. Loaned securities 267,000 64.00 17,088,000 10,000 shares NIPPON YAKIN KOGYO CO.,LTD. Loaned securities 492,200 111.00 54,634,200 346,200 shares
SANYO SPECIAL STEEL CO.,LTD. 399,000 484.00 193,116,000
AICHI STEEL CORPORATION 395,000 432.00 170,640,000 HITACHI METALS,LTD. Loaned securities 767,300 954.00 732,004,200 36,600 shares
NIPPON KINZOKU CO.,LTD. 172,000 88.00 15,136,000 PACIFIC METALS CO.,LTD. Loaned securities 467,000 278.00 129,826,000 273,000 shares
NIPPON DENKO CO.,LTD. 381,900 150.00 57,285,000
KURIMOTO,LTD. 319,000 151.00 48,169,000 KOGI CORPORATION Loaned securities 96,000 144.00 13,824,000 5,000 shares
NIPPON CHUTETSUKAN K.K. 72,000 127.00 9,144,000
MITSUBISHI STEEL MFG.CO.,LTD. 467,000 146.00 68,182,000
NICHIA STEEL WORKS,LTD. 94,300 207.00 19,520,100 NIPPON SEISEN CO.,LTD. Loaned securities 45,000 382.00 17,190,000 2,000 shares 68
SNT CORPORATION 60,000 507.00 30,420,000
ARAYA INDUSTRIAL CO.,LTD. 134,000 125.00 16,750,000
DAIKI ALUMINIUM INDUSTRY CO.,LTD. 105,000 282.00 29,610,000 NIPPON LIGHT METAL HOLDINGS Loaned securities COMPANY,LTD. 1,516,900 216.00 327,650,400 139,200 shares MITSUI MINING AND SMELTING COMPANY,LIMITED 1,709,000 173.00 295,657,000 TOHO ZINC CO.,LTD. Loaned securities 351,000 333.00 116,883,000 35,000 shares
MITSUBISHI MATERIALS CORPORATION 4,182,000 241.00 1,007,862,000
SUMITOMO METAL MINING CO.,LTD. 1,850,000 1,031.00 1,907,350,000 DOWA HOLDINGS CO.,LTD. Loaned securities 863,000 526.00 453,938,000 29,000 shares
FURUKAWA CO.,LTD. 1,045,000 123.00 128,535,000
S.SCIENCE COMPANY,LTD. 307,800 31.00 9,541,800 OSAKA TITANIUM TECHNOLOGIES CO.,LTD. Loaned securities 66,300 1,197.00 79,361,100 46,600 shares TOHO TITANIUM COMPANY,LIMITED Loaned securities 113,300 629.00 71,265,700 77,000 shares
UACJ CORPORATION 937,000 247.00 231,439,000
FURUKAWA ELECTRIC CO.,LTD. 2,107,000 243.00 512,001,000
SUMITOMO ELECTRIC INDUSTRIES,LTD. 2,682,800 1,244.00 3,337,403,200
FUJIKURA LTD. 932,000 435.00 405,420,000 SWCC SHOWA HOLDINGS CO.,LTD. Loaned securities 798,000 53.00 42,294,000 535,000 shares
TOTOKU ELECTRIC CO.,LTD. 9,800 702.00 6,879,600
TATSUTA ELECTRIC WIRE AND CABLE CO.,LTD. 139,400 280.00 39,032,000 OKI ELECTRIC CABLE CO.,LTD. Loaned securities 76,000 169.00 12,844,000 32,000 shares
CANARE ELECTRIC CO.,LTD. 10,600 1,823.00 19,323,800 HIRAKAWA HEWTECH CORP. Loaned securities 31,500 800.00 25,200,000 4,400 shares RYOBI LIMITED Loaned securities 408,000 394.00 160,752,000 79,000 shares AHRESTY CORPORATION Loaned securities 77,600 667.00 51,759,200 5,000 shares ASAHI HOLDINGS,INC. Loaned securities 100,900 1,541.00 155,486,900 12,700 shares INABA SEISAKUSHO CO.,LTD. Loaned securities 35,600 1,364.00 48,558,400 600 shares MIYAJI ENGINEERING GROUP,INC. Loaned securities 204,000 127.00 25,908,000 83,000 shares
TOCALO CO.,LTD. 47,100 1,691.00 79,646,100
ALPHA CORPORATION 22,100 910.00 20,111,000 69
SUMCO CORPORATION Loaned securities 524,600 597.00 313,186,200 370,800 shares KAWADA TECHNOLOGIES,INC. Loaned securities 12,800 3,105.00 39,744,000 7,200 shares
TOYO SEIKAN GROUP HOLDINGS,LTD. 476,200 1,921.00 914,780,200
HOKKAN HOLDINGS LIMITED 174,000 292.00 50,808,000
CORONA CORPORATION 34,900 1,027.00 35,842,300
YOKOGAWA BRIDGE HOLDINGS CORP. 126,800 982.00 124,517,600
KOMAIHALTEC INC. 120,000 185.00 22,200,000 TAKADAKIKO (STEEL CONSTRUCTION) Loaned securities CO.,LTD. 58,000 179.00 10,382,000 28,000 shares
SANWA HOLDINGS CORPORATION 665,000 908.00 603,820,000
BUNKA SHUTTER CO.,LTD. 186,500 768.00 143,232,000
SANKYO TATEYAMA,INC. 87,800 1,450.00 127,310,000
ALINCO INCORPORATED 50,600 949.00 48,019,400 TOYO SHUTTER CO.,LTD. Loaned securities 17,000 492.00 8,364,000 900 shares
LIXIL GROUP CORPORATION 933,300 1,640.00 1,530,612,000 NIPPON FILCON CO.,LTD. Loaned securities 47,900 418.00 20,022,200 17,400 shares
NORITZ CORPORATION 131,300 1,775.00 233,057,500
CHOFU SEISAKUSHO CO.,LTD. 71,500 2,424.00 173,316,000
RINNAI CORPORATION 124,500 8,990.00 1,119,255,000
DAINICHI CO.,LTD. 33,900 591.00 20,034,900
NITTO SEIKO CO.,LTD. 96,000 266.00 25,536,000
SANYO INDUSTRIES,LTD. 81,000 158.00 12,798,000 OKABE CO.,LTD. Loaned securities 139,000 708.00 98,412,000 24,100 shares G-TEKT CORPORATION Loaned securities 69,800 1,242.00 86,691,600 2,000 shares CHUGOKUKOGYO CO.,LTD. Loaned securities 10,300 651.00 6,705,300 6,700 shares TOPRE CORPORATION Loaned securities 128,900 2,117.00 272,881,300 19,800 shares
NETUREN CO.,LTD. 124,400 677.00 84,218,800 TOKYO ROPE MFG.CO.,LTD Loaned securities 453,000 148.00 67,044,000 305,000 shares
SUNCALL CORPORATION 36,600 430.00 15,738,000 MOLITEC STEEL CO.,LTD. Loaned securities 33,900 238.00 8,068,200 11,400 shares
PIOLAX,INC. 33,800 4,215.00 142,467,000 NHK SPRING CO.,LTD. 630,700 780.00 491,946,000 Loaned securities
70
38,300 shares
CHUO SPRING CO.,LTD. 84,000 272.00 22,848,000 ADVANEX INC. Loaned securities 12,600 1,111.00 13,998,600 700 shares
TACHIKAWA CORPORATION 27,800 682.00 18,959,600 MIMASU SEMICONDUCTOR INDUSTRY CO.,LTD. 49,300 863.00 42,545,900
NIPPON DRY-CHEMICAL CO.,LTD. 8,300 2,075.00 17,222,500
THE JAPAN STEEL WORKS,LTD. 1,108,000 436.00 483,088,000 MIURA CO.,LTD. Loaned securities 298,800 2,216.00 662,140,800 53,000 shares TAKUMA CO.,LTD. Loaned securities 248,000 803.00 199,144,000 42,000 shares TSUGAMI CORPORATION Loaned securities 193,000 400.00 77,200,000 45,000 shares OKUMA CORPORATION Loaned securities 436,000 640.00 279,040,000 17,000 shares TOSHIBA MACHINE CO.,LTD. Loaned securities 365,000 292.00 106,580,000 100,000 shares
AMADA HOLDINGS CO.,LTD. 977,100 967.00 944,855,700
AIDA ENGINEERING,LTD. 175,700 801.00 140,735,700
TAKISAWA MACHINE TOOL CO.,LTD. 209,000 117.00 24,453,000 FUJI MACHINE MFG.CO.,LTD. Loaned securities 218,700 918.00 200,766,600 148,000 shares
MAKINO MILLING MACHINE CO.,LTD. 334,000 497.00 165,998,000 OSG CORPORATION Loaned securities 305,200 1,552.00 473,670,400 205,100 shares
DIJET INDUSTRIAL CO.,LTD. 74,000 122.00 9,028,000
ASAHI DIAMOND INDUSTRIAL CO.,LTD. 180,300 735.00 132,520,500 DMG MORI CO.,LTD. Loaned securities 369,900 927.00 342,897,300 195,900 shares SODICK CO.,LTD. Loaned securities 169,900 749.00 127,255,100 20,000 shares
DISCO CORPORATION 85,400 8,750.00 747,250,000
NITTO KOHKI CO.,LTD. 39,000 2,086.00 81,354,000
PUNCH INDUSTRY CO.,LTD. 26,300 715.00 18,804,500
HOWA MACHINERY,LTD. 37,800 517.00 19,542,600 OKK CORPORATION Loaned securities 259,000 93.00 24,087,000 11,000 shares ISHIKAWA SEISAKUSHO,LTD. Loaned securities 165,000 68.00 11,220,000 113,000 shares TOYO MACHINERY & METAL CO.,LTD. Loaned securities 50,000 345.00 17,250,000 21,200 shares TSUDAKOMA CORP. 162,000 113.00 18,306,000 Loaned securities
71
102,000 shares ENSHU LIMITED Loaned securities 160,000 54.00 8,640,000 85,000 shares SHIMA SEIKI MFG.,LTD. Loaned securities 94,600 1,818.00 171,982,800 6,400 shares NC HOLDINGS Loaned securities 21,800 834.00 18,181,200 14,000 shares
FURYU CORPORATION 13,100 2,640.00 34,584,000
YAMASHIN-FILTER CORPATION Loaned securities 12,800 440.00 5,632,000 8,600 shares
HISAKA WORKS,LTD. 84,600 805.00 68,103,000
YAMABIKO CORPORATION 122,800 706.00 86,696,800
PEGASUS SEWING MACHINE MFG.CO.,LTD. 69,600 440.00 30,624,000
NABTESCO CORPORATION 348,200 2,419.00 842,295,800 MODEC,INC. Loaned securities 78,500 1,474.00 115,709,000 24,900 shares
RHEON AUTOMATIC MACHINERY CO.,LTD. 56,900 540.00 30,726,000
SMC CORPORATION 200,900 23,200.00 4,660,880,000 SHINKAWA LTD. Loaned securities 60,200 474.00 28,534,800 21,500 shares HOSOKAWA MICRON CORPORATION Loaned securities 111,000 518.00 57,498,000 25,000 shares UNION TOOL CO. Loaned securities 29,000 2,681.00 77,749,000 19,700 shares
OILES CORPORATION 86,600 1,606.00 139,079,600 NISSEI ASB MACHINE CO.,LTD. Loaned securities 21,300 1,650.00 35,145,000 12,700 shares
SATO HOLDINGS CORPORATION 90,200 1,918.00 173,003,600 AIRTECH JAPAN,LTD. Loaned securities 23,100 605.00 13,975,500 11,500 shares NISSEI PLASTIC INDUSTRIAL CO.,LTD. Loaned securities 48,600 583.00 28,333,800 1,200 shares
OKADA AIYON CORPORATION 12,900 721.00 9,300,900 Y.A.C. CO.,LTD. Loaned securities 26,900 1,443.00 38,816,700 19,100 shares KOMATSU LTD. Loaned securities 3,284,300 1,759.00 5,777,083,700 1,296,000 shares
SUMITOMO HEAVY INDUSTRIES,LTD. 1,954,000 426.00 832,404,000 HITACHI CONSTRUCTION MACHINERY Loaned securities CO.,LTD. 299,300 1,378.00 412,435,400 52,800 shares
NIKKO CO.,LTD. 100,000 291.00 29,100,000 TOMOE ENGINEERING CO.,LTD. (TOMOE Loaned securities KOGYO CO.,LTD.) 27,200 1,465.00 39,848,000 16,200 shares ISEKI & CO.,LTD. Loaned securities 685,000 214.00 146,590,000 453,000 shares
72
TOWA CORPORATION 64,600 999.00 64,535,400 MARUYAMA MFG.CO.,INC. Loaned securities 142,000 155.00 22,010,000 8,000 shares
KITAGAWA IRON WORKS CO.,LTD. 306,000 160.00 48,960,000
TAKAKITA CO., LTD. Loaned securities 21,900 489.00 10,709,100 2,000 shares
KUBOTA CORPORATION 3,216,800 1,276.00 4,104,636,800 EBARA JITSUGYO CO.,LTD. Loaned securities 19,900 1,153.00 22,944,700 600 shares MITSUBISHI KAKOKI KAISHA,LTD. Loaned securities 220,000 179.00 39,380,000 124,000 shares
TSUKISHIMA KIKAI CO.,LTD. 126,900 914.00 115,986,600
TEIKOKU ELECTRIC MFG.CO.,LTD. 48,700 760.00 37,012,000 TOKYO KIKAI SEISAKUSHO,LTD. Loaned securities 256,000 36.00 9,216,000 10,000 shares
SINTOKOGIO,LTD. 151,900 692.00 105,114,800 SHIBUYA KOGYO CO.,LTD. Loaned securities 56,300 1,625.00 91,487,500 15,000 shares AICHI CORPORATION Loaned securities 94,800 704.00 66,739,200 800 shares KOMORI CORPORATION Loaned securities 162,900 1,140.00 185,706,000 77,100 shares
TSURUMI MANUFACTURING CO.,LTD. 49,800 1,208.00 60,158,400 SUMITOMO PRECISION PRODUCTS CO.,LTD. Loaned securities 106,000 298.00 31,588,000 8,000 shares
SAKAI HEAVY INDUSTRIES,LTD. 128,000 159.00 20,352,000 EBARA CORPORATION Loaned securities 1,482,000 559.00 828,438,000 50,000 shares
ISHII IRON WORKS CO.,LTD. 100,000 144.00 14,400,000 TORISHIMA PUMP MFG.CO.,LTD. Loaned securities 71,300 1,022.00 72,868,600 30,000 shares
HOKUETSU INDUSTRIES CO.,LTD. 72,000 557.00 40,104,000
DAIKIN INDUSTRIES,LTD. 932,200 8,029.00 7,484,633,800 ORGANO CORPORATION Loaned securities 115,000 377.00 43,355,000 20,000 shares TOYO KANETSU K.K. Loaned securities 321,000 196.00 62,916,000 35,000 shares KURITA WATER INDUSTRIES LTD. Loaned securities 402,700 2,148.00 864,999,600 50,000 shares TSUBAKIMOTO CHAIN CO. Loaned securities 380,000 601.00 228,380,000 2,000 shares
DAIDO KOGYO CO.,LTD. 131,000 185.00 24,235,000
KIMURA CHEMICAL PLANTS CO.,LTD. 57,000 285.00 16,245,000
ANEST IWATA CORPORATION 107,900 861.00 92,901,900
73
DAIFUKU CO.,LTD. 344,000 1,782.00 613,008,000 SAMCO INC. Loaned securities 15,900 825.00 13,117,500 7,800 shares KATO WORKS CO.,LTD. Loaned securities 151,000 375.00 56,625,000 102,000 shares
YUKEN KOGYO CO.,LTD. 128,000 161.00 20,608,000
TADANO LTD. 308,800 787.00 243,025,600 FUJITEC CO.,LTD. Loaned securities 186,400 886.00 165,150,400 34,000 shares
CKD CORPORATION 178,100 770.00 137,137,000
KITO CORPORATION 80,600 751.00 60,530,600
HEIWA CORPORATION 198,400 2,017.00 400,172,800 RISO KAGAKU CORPORATION Loaned securities 70,600 1,260.00 88,956,000 7,900 shares SANKYO CO.,LTD. Loaned securities 178,100 3,850.00 685,685,000 4,600 shares JAPAN CASH MACHINE CO.,LTD. Loaned securities 59,500 737.00 43,851,500 41,400 shares MARS ENGINEERING CORPORATION Loaned securities 36,200 2,107.00 76,273,400 5,700 shares FUKUSHIMA INDUSTRIES CORP. Loaned securities 39,500 3,170.00 125,215,000 26,800 shares OIZUMI CORPORATION Loaned securities 27,700 357.00 9,888,900 3,800 shares DAIKOKU DENKI CO.,LTD. Loaned securities 26,700 1,458.00 38,928,600 16,700 shares TAKEUCHI MFG.CO.,LTD. Loaned securities 126,600 1,031.00 130,524,600 55,000 shares AMANO CORPORATION Loaned securities 198,100 1,708.00 338,354,800 20,600 shares JUKI CORPORATION Loaned securities 95,000 780.00 74,100,000 57,400 shares SANDEN HOLDINGS CORPORATION Loaned securities 391,000 262.00 102,442,000 16,000 shares JANOME SEWING MACHINE CO.,LTD. Loaned securities 62,600 511.00 31,988,600 36,400 shares
MAX CO.,LTD. 98,000 1,163.00 113,974,000
GLORY LTD. 218,300 2,704.00 590,283,200
SINKO INDUSTRIES LTD. 44,600 1,064.00 47,454,400
DAIWA INDUSTRIES LTD. 102,900 862.00 88,699,800
SEGA SAMMY HOLDINGS INC. 688,000 1,105.00 760,240,000
NIPPON PISTON RING CO.,LTD. 26,600 1,325.00 35,245,000
RIKEN CORPORATION 296,000 300.00 88,800,000 TPR CO.,LTD. Loaned securities 78,800 1,800.00 141,840,000 1,300 shares 74
TSUBAKI NAKASHIMA CO.,LTD. Loaned securities 79,100 1,089.00 86,139,900 300 shares
HOSHIZAKI CORPORATION Loaned securities 140,300 9,160.00 1,285,148,000 15,000 shares
TAIHO KOGYO CO.,LTD. 51,500 996.00 51,294,000 NSK LTD. Loaned securities 1,314,900 702.00 923,059,800 146,000 shares
NTN CORPORATION 1,587,000 243.00 385,641,000 JTEKT CORPORATION Loaned securities 682,300 1,041.00 710,274,300 46,400 shares NACHI-FUJIKOSHI CORP. Loaned securities 594,000 259.00 153,846,000 413,000 shares NIPPON THOMPSON CO.,LTD. Loaned securities 219,000 287.00 62,853,000 80,000 shares THK CO.,LTD. Loaned securities 425,700 1,691.00 719,858,700 15,000 shares YUSHIN PRECISION EQUIPMENT CO.,LTD. Loaned securities 24,700 1,594.00 39,371,800 4,000 shares
MAEZAWA KYUSO INDUSTRIES CO.,LTD. 26,400 1,337.00 35,296,800
EAGLE INDUSTRY CO.,LTD. 79,100 1,110.00 87,801,000
MAEZAWA INDUSTRIES,INC. 46,500 266.00 12,369,000
NIPPON PILLAR PACKING CO.,LTD. 65,200 980.00 63,896,000 KITZ CORPORATION Loaned securities 285,300 487.00 138,941,100 20,000 shares
HITACHI KOKI CO.,LTD. 171,100 568.00 97,184,800 MAKITA CORPORATION Loaned securities 417,400 6,260.00 2,612,924,000 12,800 shares
HITACHI ZOSEN CORPORATION 507,600 464.00 235,526,400
MITSUBISHI HEAVY INDUSTRIES,LTD. 11,399,000 413.60 4,714,626,400 IHI CORPORATION Loaned securities 4,919,000 274.00 1,347,806,000 3,399,000 shares
NISSHINBO HOLDINGS 355,400 893.00 317,372,200 IBIDEN CO.,LTD. Loaned securities 392,000 1,082.00 424,144,000 149,600 shares KONICA MINOLTA,INC. Loaned securities 1,598,600 715.00 1,142,999,000 15,600 shares BROTHER INDUSTRIES,LTD. Loaned securities 827,500 1,000.00 827,500,000 102,700 shares MINEBEA CO.,LTD. Loaned securities 1,031,500 617.00 636,435,500 296,600 shares HITACHI,LTD. Loaned securities 16,333,000 403.30 6,587,098,900 631,000 shares TOSHIBA CORPORATION Loaned securities 13,477,000 269.50 3,632,051,500 9,357,000 shares
MITSUBISHI ELECTRIC CORPORATION 6,829,000 1,108.00 7,566,532,000
75
FUJI ELECTRIC CO.,LTD. 1,929,000 398.00 767,742,000 TOYO DENKI SEIZO K.K. (TOYO ELECTRIC MFG.CO.,LTD.) 126,000 238.00 29,988,000 YASKAWA ELECTRIC CORPORATION Loaned securities 795,100 1,204.00 957,300,400 509,100 shares
SINFONIA TECHNOLOGY CO.,LTD. 414,000 156.00 64,584,000
MEIDENSHA CORPORATION 588,000 313.00 184,044,000
ORIGIN ELECTRIC COMPANY,LIMITED 94,000 248.00 23,312,000
SANYO DENKI CO.,LTD. 168,000 435.00 73,080,000
DENYO CO.,LTD. 59,000 990.00 58,410,000 TOSHIBA TEC CORPORATION Loaned securities 458,000 345.00 158,010,000 11,000 shares SHIBAURA MECHATRONICS CORPORATION Loaned securities 102,000 196.00 19,992,000 39,000 shares MABUCHI MOTOR CO.,LTD. Loaned securities 180,700 3,820.00 690,274,000 5,100 shares NIDEC CORPORATION Loaned securities 770,400 7,131.00 5,493,722,400 110,000 shares UMC ELECTRONICS CO., LTD. Loaned securities 7,200 2,485.00 17,892,000 4,200 shares
TAKAOKA TOKO CO.,LTD. 35,500 1,542.00 54,741,000
W-SCOPE CORPORATION Loaned securities 55,200 1,712.00 94,502,400 38,900 shares MIYAKOSHI HOLDINGS,INC. Loaned securities 20,900 496.00 10,366,400 14,300 shares
DAIHEN CORPORATION 377,000 437.00 164,749,000 TABUCHI ELECTRIC CO.,LTD. Loaned securities 73,900 321.00 23,721,900 43,800 shares YA-MAN LTD. Loaned securities 7,900 1,974.00 15,594,600 5,300 shares JVC KENWOOD CORPORATION Loaned securities 469,700 205.00 96,288,500 322,000 shares MIMAKI ENGINEERING CO.,LTD. Loaned securities 57,400 413.00 23,706,200 39,000 shares DAI-ICHI SEIKO CO.,LTD. Loaned securities 27,100 923.00 25,013,300 11,900 shares
NISSIN ELECTRIC CO.,LTD. 150,100 1,468.00 220,346,800
OSAKI ELECTRIC CO.,LTD. 119,000 810.00 96,390,000
OMRON CORPORATION 723,000 3,060.00 2,212,380,000
NITTO KOGYO CORPORATION 102,500 1,219.00 124,947,500 IDEC CORPORATION Loaned securities 83,600 886.00 74,069,600 10,000 shares
FUJI ELECTRIC INDUSTRY CO.,LTD. 5,900 1,395.00 8,230,500 GS YUASA CORPORATION Loaned securities 1,233,000 386.00 475,938,000 25,000 shares 76
SAXA HOLDINGS,INC. Loaned securities 161,000 180.00 28,980,000 18,000 shares MELCO HOLDINGS INC. Loaned securities 35,400 2,127.00 75,295,800 22,100 shares
TECHNO MEDICA CO.,LTD. 14,300 1,442.00 20,620,600
NEC CORPORATION 8,802,000 247.00 2,174,094,000 FUJITSU LIMITED Loaned securities 6,172,000 343.70 2,121,316,400 4,150,000 shares OKI ELECTRIC INDUSTRY COMPANY,LIMITED Loaned securities 2,774,000 126.00 349,524,000 65,000 shares
IWATSU ELECTRIC CO.,LTD. 298,000 61.00 18,178,000 DENKI KOGYO COMPANY,LIMITED Loaned securities 168,000 443.00 74,424,000 70,000 shares SANKEN ELECTRIC CO.,LTD. Loaned securities 349,000 298.00 104,002,000 240,000 shares
NAKAYO,INC. 62,000 305.00 18,910,000 AIPHONE CO.,LTD. Loaned securities 36,300 1,671.00 60,657,300 400 shares
RENESAS ELECTRONICS CORPORATION 331,300 520.00 172,276,000
SEIKO EPSON CORPORATION 953,200 1,549.00 1,476,506,800 WACOM CO.,LTD. Loaned securities 496,500 380.00 188,670,000 351,200 shares
ULVAC, INC. 117,700 2,834.00 333,561,800 AXELL CORPORATION Loaned securities 28,800 653.00 18,806,400 6,000 shares
EIZO CORPORATION 63,300 2,604.00 164,833,200 JAPAN DISPLAY INC. Loaned securities 1,195,200 179.00 213,940,800 637,000 shares
NIPPON SIGNAL COMPANY,LIMITED 176,600 834.00 147,284,400
KYOSAN ELECTRIC MANUFACTURING CO.,LTD. 151,000 343.00 51,793,000 NOHMI BOSAI LTD. Loaned securities 72,600 1,429.00 103,745,400 700 shares
HOCHIKI CORPORATION 46,400 1,163.00 53,963,200 ELECOM CO.,LTD. Loaned securities 55,400 2,206.00 122,212,400 37,600 shares JAPAN RADIO CO.,LTD. Loaned securities 187,000 250.00 46,750,000 14,000 shares PANASONIC CORPORATION Loaned securities 7,313,800 863.00 6,311,809,400 674,700 shares SHARP CORPORATION Loaned securities 5,410,000 103.00 557,230,000 941,000 shares ANRITSU CORPORATION Loaned securities 384,300 564.00 216,745,200 271,800 shares
FUJITSU GENERAL LIMITED 195,000 2,231.00 435,045,000 HITACHI KOKUSAI ELECTRIC INC. 146,400 1,584.00 231,897,600 Loaned securities
77
78,800 shares SONY CORPORATION Loaned securities 4,517,300 3,013.00 13,610,624,900 533,200 shares
TDK CORPORATION 386,400 5,250.00 2,028,600,000
TEIKOKU TSUSHIN KOGYO CO.,LTD. 153,000 138.00 21,114,000 MITSUMI ELECTRIC CO.,LTD. Loaned securities 243,500 381.00 92,773,500 167,400 shares
TAMURA CORPORATION 247,000 277.00 68,419,000 ALPS ELECTRIC CO.,LTD. Loaned securities 551,600 1,664.00 917,862,400 66,400 shares IKEGAMI TSUSHINKI CO.,LTD. Loaned securities 201,000 117.00 23,517,000 137,000 shares PIONEER CORPORATION Loaned securities 1,035,700 164.00 169,854,800 170,600 shares
NIHON DEMPA KOGYO CO.,LTD. 57,900 836.00 48,404,400
SUZUKI CO.,LTD. 25,000 485.00 12,125,000
NIHON TRIM CO.,LTD. 17,200 7,690.00 132,268,000
ROLAND DG CORPORATION 31,400 1,777.00 55,797,800
FOSTER ELECTRIC COMPANY,LIMITED 80,300 1,552.00 124,625,600 CLARION CO.,LTD. Loaned securities 337,000 222.00 74,814,000 157,000 shares SMK CORPORATION Loaned securities 188,000 321.00 60,348,000 52,000 shares YOKOWO CO.,LTD. Loaned securities 45,400 499.00 22,654,600 200 shares TEAC CORPORATION Loaned securities 457,000 33.00 15,081,000 277,000 shares HOSIDEN CORPORATION Loaned securities 194,200 575.00 111,665,000 3,400 shares
HIROSE ELECTRIC CO.,LTD. 103,400 11,870.00 1,227,358,000 JAPAN AVIATION ELECTRONICS Loaned securities INDUSTRY,LIMITED 183,000 1,303.00 238,449,000 128,000 shares
TOA CORPORATION 75,500 912.00 68,856,000 HITACHI MAXELL,LTD. Loaned securities 106,000 1,323.00 140,238,000 1,300 shares
FURUNO ELECTRIC CO.,LTD. 76,300 513.00 39,141,900 UNIDEN HOLDINGS Loaned securities 199,000 111.00 22,089,000 70,000 shares ALPINE ELECTRONICS,INC. Loaned securities 152,600 943.00 143,901,800 11,000 shares
SUMIDA CORPORATION 53,000 647.00 34,291,000
ICOM INCORPORATED 35,400 1,892.00 66,976,800
RION CO.,LTD. 24,400 1,356.00 33,086,400
HONDA TSUSHIN KOGYO CO., LTD. 16,600 705.00 11,703,000 Loaned securities 78
11,200 shares FUNAI ELECTRIC CO.,LTD. Loaned securities 64,600 856.00 55,297,600 44,500 shares YOKOGAWA ELECTRIC CORPORATION Loaned securities 640,800 1,151.00 737,560,800 9,100 shares SHINDENGEN ELECTRIC MANUFACTURING CO.,LTD. 225,000 305.00 68,625,000
AZBIL CORPORATION 209,000 2,982.00 623,238,000
DKK-TOA CORPORATION 36,300 441.00 16,008,300
NIHON KOHDEN CORPORATION 267,600 2,881.00 770,955,600
CHINO CORPORATION 22,400 1,037.00 23,228,800
KYOWA ELECTRONIC INSTRUMENTS CO.,LTD. 78,000 310.00 24,180,000 JAPAN ELECTRONIC MATERIALS CORPORATION 26,400 381.00 10,058,400 HORIBA,LTD. Loaned securities 118,400 4,295.00 508,528,000 40,500 shares ADVANTEST CORPORATION Loaned securities 436,400 1,029.00 449,055,600 173,500 shares ONO SOKKI CO.,LTD. Loaned securities 31,000 840.00 26,040,000 500 shares ESPEC CORP. Loaned securities 66,300 1,178.00 78,101,400 24,000 shares PANASONIC INDUSTRIAL DEVICES SUNX CO.,LTD. 56,100 590.00 33,099,000 KEYENCE CORPORATION Loaned securities 145,000 70,710.00 10,252,950,000 33,500 shares HIOKI E.E. CORPORATION Loaned securities 33,400 1,818.00 60,721,200 5,000 shares
SYSMEX CORPORATION 497,100 6,880.00 3,420,048,000
MICRONICS JAPAN CO., LTD. 119,400 853.00 101,848,200 MEGACHIPS CORPORATION Loaned securities 64,500 1,069.00 68,950,500 44,100 shares OBARA GROUP INCORPORATED Loaned securities 37,300 3,730.00 139,129,000 26,300 shares SAWAFUJI ELECTRIC CO.,LTD. Loaned securities 35,000 169.00 5,915,000 23,000 shares COSEL CO.,LTD. Loaned securities 88,700 974.00 86,393,800 5,000 shares NEW JAPAN RADIO CO.,LTD. Loaned securities 47,200 344.00 16,236,800 13,000 shares OPTEX COMPANY,LIMITED Loaned securities 47,300 2,559.00 121,040,700 5,000 shares
CHIYODA INTEGRE CO.,LTD. 33,700 1,782.00 60,053,400
I-O DATA DEVICE INC. 19,600 616.00 12,073,600 LASERTEC CORPORATION Loaned securities 74,900 1,310.00 98,119,000 200 shares
79
STANLEY ELECTRIC CO.,LTD. 457,600 2,096.00 959,129,600 IWASAKI ELECTRIC CO.,LTD. Loaned securities 217,000 125.00 27,125,000 110,000 shares
USHIO INC. 388,500 1,135.00 440,947,500
OKAYA ELECTRIC INDUSTRIES CO.,LTD. 34,900 352.00 12,284,800 HELIOS TECHNO HOLDING CO.,LTD. Loaned securities 54,600 331.00 18,072,600 13,500 shares NIPPON CERAMIC CO.,LTD. Loaned securities 36,600 1,949.00 71,333,400 25,300 shares ENDO LIGHTING CORPORATION Loaned securities 32,100 914.00 29,339,400 17,800 shares
JAPAN DIGITAL LABORATORY CO.,LTD. 53,900 1,371.00 73,896,900 THE FURUKAWA BATTERY CO.,LTD. Loaned securities 45,000 593.00 26,685,000 21,000 shares
SOSHIN ELECTRIC CO.,LTD. 32,100 260.00 8,346,000 YAMAICHI ELECTRONICS CO.,LTD. Loaned securities 56,000 606.00 33,936,000 39,100 shares
ZUKEN INC. 46,200 841.00 38,854,200
JEOL LTD. 252,000 352.00 88,704,000 CASIO COMPUTER CO.,LTD. Loaned securities 641,600 1,422.00 912,355,200 452,700 shares FANUC CORPORATION Loaned securities 655,000 15,500.00 10,152,500,000 5,900 shares CMK CORPORATION Loaned securities 137,900 389.00 53,643,100 91,900 shares
ENPLAS CORPORATION 32,800 2,512.00 82,393,600 DAISHINKU CORP. Loaned securities 118,000 255.00 30,090,000 58,000 shares
ROHM COMPANY LIMITED 309,400 3,640.00 1,126,216,000 HAMAMATSU PHOTONICS K.K. Loaned securities 499,500 2,800.00 1,398,600,000 340,100 shares
MITSUI HIGH-TEC,INC. 92,900 586.00 54,439,400 SHINKO ELECTRIC INDUSTRIES CO.,LTD. Loaned securities 241,900 468.00 113,209,200 162,300 shares
KYOCERA CORPORATION 1,050,800 4,613.00 4,847,340,400
TAIYO YUDEN CO.,LTD. 311,200 781.00 243,047,200 MURATA MANUFACTURING COMPANY,LTD. Loaned securities 675,100 10,475.00 7,071,672,500 100,000 shares U-SHIN LTD. Loaned securities 84,400 614.00 51,821,600 52,300 shares FUTABA CORPORATION Loaned securities 104,700 1,819.00 190,449,300 2,100 shares
HOKURIKU ELECTRIC INDUSTRY CO.,LTD. 257,000 102.00 26,214,000 NICHICON CORPORATION Loaned securities 201,500 626.00 126,139,000 53,400 shares 80
NIPPON CHEMI-CON CORPORATION Loaned securities 519,000 117.00 60,723,000 222,000 shares
KOA CORPORATION 88,500 699.00 61,861,500 ICHIKOH INDUSTRIES,LTD. Loaned securities 152,000 245.00 37,240,000 73,000 shares KOITO MANUFACTURING CO.,LTD. Loaned securities 383,500 4,340.00 1,664,390,000 400 shares
MITSUBA CORPORATION 108,700 973.00 105,765,100 STAR MICRONICS CO.,LTD. Loaned securities 121,500 1,059.00 128,668,500 40,000 shares SCREEN HOLDINGS CO.,LTD. Loaned securities 656,000 1,045.00 685,520,000 2,000 shares
CANON ELECTRONICS INC. 58,800 1,369.00 80,497,200 CANON INC. Loaned securities 3,446,600 2,802.50 9,659,096,500 118,900 shares RICOH COMPANY,LTD. Loaned securities 2,073,000 823.00 1,706,079,000 506,100 shares MUTOH HOLDINGS CO.,LTD. Loaned securities 75,000 222.00 16,650,000 44,000 shares
TOKYO ELECTRON LIMITED 525,400 8,490.00 4,460,646,000
TOYOTA BOSHOKU CORPORATION 223,800 1,941.00 434,395,800
KINUGAWA RUBBER INDUSTRIAL CO.,LTD. 147,000 776.00 114,072,000
UNIPRES CORPORATION 132,800 1,478.00 196,278,400
TOYOTA INDUSTRIES CORPORATION 582,900 3,750.00 2,185,875,000
MORITA HOLDINGS CORPORATION 111,900 1,321.00 147,819,900
SANOH INDUSTRIAL CO.,LTD. 81,400 510.00 41,514,000
DENSO CORPORATION 1,581,500 3,399.00 5,375,518,500
TOKAI RIKA CO.,LTD. 187,300 1,360.00 254,728,000 MITSUI ENGINEERING & SHIPBUILDING Loaned securities CO.,LTD. 2,478,000 133.00 329,574,000 311,000 shares
KAWASAKI HEAVY INDUSTRIES,LTD. 4,982,000 260.00 1,295,320,000
NAMURA SHIPBUILDING CO.,LTD. 192,000 497.00 95,424,000
SANOYAS HOLDINGS CORPORATION 79,800 161.00 12,847,800 NIPPON SHARYO,LTD. Loaned securities 263,000 270.00 71,010,000 142,000 shares MITSUBISHI NICHIYU FORKLIFT CO.,LTD. Loaned securities 73,800 609.00 44,944,200 100 shares THE KINKI SHARYO CO.,LTD. Loaned securities 97,000 254.00 24,638,000 57,000 shares NISSAN MOTOR CO.,LTD. Loaned securities 8,934,300 918.90 8,209,728,270 1,488,700 shares
ISUZU MOTORS LIMITED 1,855,000 1,232.00 2,285,360,000 TOYOTA MOTOR CORPORATION Collateral securities 7,961,800 5,055.00 40,246,899,000 46,500 shares 81
Loaned securities 1,245,700 shares HINO MOTORS,LTD. Loaned securities 913,700 916.00 836,949,200 10,400 shares
MITSUBISHI MOTORS CORPORATION 2,541,800 442.00 1,123,475,600 F-TECH INC. Loaned securities 33,700 865.00 29,150,500 21,300 shares LECIP HOLDINGS CORPORATION Loaned securities 21,000 790.00 16,590,000 12,300 shares GMB CORPORATION Loaned securities 10,700 914.00 9,779,800 900 shares
FALTEC CO.,LTD. 11,300 1,143.00 12,915,900
MUSASHI SEIMITSU INDUSTRY CO.,LTD. 68,200 1,823.00 124,328,600 NISSAN SHATAI CO.,LTD. Loaned securities 312,500 946.00 295,625,000 57,900 shares
SHINMAYWA INDUSTRIES,LTD. 278,000 584.00 162,352,000
KYOKUTO KAIHATSU KOGYO CO.,LTD. 127,400 892.00 113,640,800 NISSIN KOGYO CO.,LTD. Loaned securities 143,100 1,235.00 176,728,500 56,300 shares TOPY INDUSTRIES,LIMITED Loaned securities 527,000 200.00 105,400,000 20,000 shares
T.RAD CO.,LTD. 249,000 175.00 43,575,000 AKEBONO BRAKE INDUSTRY CO.,LTD. Loaned securities 324,100 181.00 58,662,100 223,000 shares
TACHI-S CO.,LTD. 101,400 1,384.00 140,337,600
NOK CORPORATION 309,800 1,581.00 489,793,800 FUTABA INDUSTRIAL CO.,LTD. Loaned securities 194,900 429.00 83,612,100 122,000 shares KYB Loaned securities 717,000 319.00 228,723,000 100,000 shares DAIDO METAL CO.,LTD. Loaned securities 89,300 980.00 87,514,000 5,000 shares PRESS KOGYO CO.,LTD. Loaned securities 340,000 314.00 106,760,000 38,200 shares MIKUNI CORPORATION Loaned securities 82,200 285.00 23,427,000 7,000 shares
CALSONIC KANSEI CORPORATION 489,000 742.00 362,838,000 PACIFIC INDUSTRIAL CO.,LTD. Loaned securities 142,300 885.00 125,935,500 98,900 shares KEIHIN CORPORATION Loaned securities 147,000 1,424.00 209,328,000 3,000 shares
KASAI KOGYO CO.,LTD. 78,600 862.00 67,753,200 AISIN SEIKI CO.,LTD. Loaned securities 656,100 3,760.00 2,466,936,000 230,000 shares
FUJI KIKO CO.,LTD. 74,800 286.00 21,392,800
82
MAZDA MOTOR CORPORATION Loaned securities 2,027,100 1,211.50 2,455,831,650 257,000 shares DAIHATSU MOTOR CO.,LTD. Loaned securities 764,100 1,314.00 1,004,027,400 374,500 shares
IMASEN ELECTRIC INDUSTRIAL CO.,LTD. 58,500 820.00 47,970,000 HONDA MOTOR CO.,LTD. Collateral securities 5,760,800 2,476.50 14,266,621,200 93,900 shares SUZUKI MOTOR CORPORATION Loaned securities 1,171,200 2,691.00 3,151,699,200 17,400 shares
FUJI HEAVY INDUSTRIES LTD. 2,022,900 3,288.00 6,651,295,200
YASUNAGA CORPORATION 21,300 470.00 10,011,000 YAMAHA MOTOR CO.,LTD. Loaned securities 904,200 1,426.00 1,289,389,200 47,300 shares SHOWA CORPORATION Loaned securities 166,100 550.00 91,355,000 112,600 shares
TBK CO.,LTD. 76,100 344.00 26,178,400 EXEDY CORPORATION Loaned securities 86,900 2,024.00 175,885,600 45,000 shares TOYODA GOSEI CO.,LTD. Loaned securities 232,600 1,708.00 397,280,800 27,500 shares
AISAN INDUSTRY CO.,LTD. 112,100 628.00 70,398,800
MEIWA INDUSTRY CO.,LTD. 10,600 991.00 10,504,600
YOROZU CORPORATION 60,200 1,368.00 82,353,600 F.C.C.CO.,LTD. Loaned securities 104,700 1,608.00 168,357,600 6,100 shares
SHIMANO INC. 258,000 13,740.00 3,544,920,000 TAKATA CORPORATION Loaned securities 115,500 347.00 40,078,500 80,200 shares TS TECH CO.,LTD. Loaned securities 148,700 2,371.00 352,567,700 5,800 shares JAMCO CORPORATION Loaned securities 37,400 1,819.00 68,030,600 3,000 shares TERUMO CORPORATION Loaned securities 981,300 4,495.00 4,410,943,500 7,500 shares
CREATE MEDIC CO.,LTD. 21,200 798.00 16,917,600 NIKKISO CO.,LTD. Loaned securities 230,400 629.00 144,921,600 161,600 shares
SHIMADZU CORPORATION 824,000 1,348.00 1,110,752,000 JMS CO.,LTD. Loaned securities 119,000 270.00 32,130,000 4,000 shares KUBOTEK CORPORATION Loaned securities 14,000 427.00 5,978,000 7,400 shares
NAGANO KEIKI CO.,LTD. 39,100 552.00 21,583,200 V TECHNOLOGY CO.,LTD. Loaned securities 15,300 12,100.00 185,130,000 10,500 shares
83
TOKYO KEIKI INC. Loaned securities 204,000 150.00 30,600,000 28,000 shares
AICHI TOKEI DENKI CO.,LTD. 81,000 299.00 24,219,000 OVAL CORPORATION Loaned securities 62,300 228.00 14,204,400 23,700 shares
TOKYO SEIMITSU CO.,LTD. 123,500 2,219.00 274,046,500 MANI,INC. Loaned securities 85,000 1,637.00 139,145,000 39,200 shares NIKON CORPORATION Loaned securities 1,195,100 1,366.00 1,632,506,600 808,300 shares TOPCON CORPORATION Loaned securities 214,800 922.00 198,045,600 146,300 shares
OLYMPUS CORPORATION 953,600 3,425.00 3,266,080,000
RIKEN KEIKI CO.,LTD. 51,600 1,066.00 55,005,600 TAMRON CO.,LTD. Loaned securities 51,500 1,272.00 65,508,000 10,000 shares
HOYA CORPORATION 1,447,600 3,527.00 5,105,685,200 NORITSU KOKI CO.,LTD. Loaned securities 58,000 675.00 39,150,000 2,200 shares
A&D COMPANY,LIMITED 58,500 353.00 20,650,500
CITIZEN HOLDINGS CO.,LTD. 788,100 482.00 379,864,200 RHYTHM WATCH CO.,LTD. Loaned securities 280,000 178.00 49,840,000 11,000 shares DAIKEN MEDICAL CO.,LTD. Loaned securities 51,400 785.00 40,349,000 28,600 shares
MENICON CO., LTD. Loaned securities 42,900 3,145.00 134,920,500 15,000 shares SHOFU INC. Loaned securities 31,200 1,320.00 41,184,000 13,400 shares SEIKO HOLDINGS CORPORATION Loaned securities 411,000 292.00 120,012,000 125,000 shares
NIPRO CORPORATION 477,100 1,248.00 595,420,800
SNOW PEAK INC. Loaned securities 6,800 4,330.00 29,444,000 1,300 shares PARAMOUNT BED HOLDINGS CO.,LTD. Loaned securities 67,500 4,835.00 326,362,500 25,000 shares TRANSACTION CO.,LTD. Loaned securities 12,700 1,037.00 13,169,900 5,000 shares SHO-BI CORPORATION Loaned securities 20,700 397.00 8,217,900 800 shares
NIHON FLUSH CO.,LTD. Loaned securities 24,800 1,161.00 28,792,800 12,200 shares MAEDA KOSEN CO.,LTD. Loaned securities 64,000 990.00 63,360,000 21,500 shares
EIDAI CO.,LTD. 88,000 381.00 33,528,000 ARTNATURE INC. Loaned securities 68,700 782.00 53,723,400 21,500 shares 84
DUNLOP SPORTS CO.LTD. 40,600 901.00 36,580,600
BANDAI NAMCO HOLDINGS INC. 661,900 2,639.00 1,746,754,100
IFIS JAPAN LTD. 14,100 356.00 5,019,600 KYORITSU PRINTING CO.,LTD. Loaned securities 105,900 292.00 30,922,800 100 shares
SHOEI 28,900 1,473.00 42,569,700 FRANCE BED HOLDINGS CO.,LTD. Loaned securities 89,200 905.00 80,726,000 1,000 shares PILOT CORPORATION Loaned securities 111,700 4,135.00 461,879,500 10,000 shares
HAGIHARA INDUSTRIES INC. 17,700 2,518.00 44,568,600
TOPPAN FORMS CO.,LTD. 114,200 1,042.00 118,996,400
FUJI SEAL INTERNATIONAL,INC. 77,700 3,700.00 287,490,000
TOMY COMPANY,LTD. 210,500 879.00 185,029,500
KOSAIDO CO.,LTD. 59,500 291.00 17,314,500
AS-ME ESTELLE CO.,LTD. 16,900 580.00 9,802,000 ARRK CORPORATION Loaned securities 272,100 68.00 18,502,800 91,200 shares
TAKANO CO.,LTD. 28,000 596.00 16,688,000
PRONEXUS INC. 59,900 978.00 58,582,200 HOKUSHIN CO.,LTD. Loaned securities 51,300 106.00 5,437,800 19,800 shares
WOOD ONE CO.,LTD. 117,000 223.00 26,091,000
DAIKEN CORPORATION 251,000 316.00 79,316,000
TOPPAN PRINTING CO.,LTD. 1,807,000 854.00 1,543,178,000
DAI NIPPON PRINTING CO.,LTD. 1,846,000 1,165.00 2,150,590,000 TOSHO PRINTING COMPANY,LIMITED Loaned securities 121,000 462.00 55,902,000 64,000 shares KYODO PRINTING CO.,LTD. Loaned securities 215,000 315.00 67,725,000 7,000 shares NISSHA PRINTING CO.,LTD. Loaned securities 107,400 1,781.00 191,279,400 75,200 shares
MITSUMURA PRINTING CO.,LTD. 60,000 179.00 10,740,000 TAKARA PRINTING CO.,LTD. Loaned securities 31,000 1,363.00 42,253,000 6,600 shares ASICS CORPORATION Loaned securities 596,200 1,584.00 944,380,800 314,700 shares
TSUTSUMI JEWELRY CO.,LTD. 31,900 1,965.00 62,683,500
KOMATSU WALL INDUSTRY CO.,LTD. 21,500 1,534.00 32,981,000
YAMAHA CORPORATION 470,500 2,589.00 1,218,124,500 KAWAI MUSICAL INSTRUMENTS MANUFACTURING CO.,LTD. 23,800 1,850.00 44,030,000
85
CLEANUP CORPORATION 75,100 750.00 56,325,000 PIGEON CORPORATION Loaned securities 362,700 2,816.00 1,021,363,200 246,400 shares KANEMATSU-NNK CORPORATION Loaned securities 63,000 135.00 8,505,000 30,000 shares KING JIM CO.,LTD. Loaned securities 53,500 814.00 43,549,000 5,700 shares
LINTEC CORPORATION 152,200 1,956.00 297,703,200 TASAKI & CO.,LTD. Loaned securities 11,900 1,121.00 13,339,900 7,300 shares
ITOKI CORPORATION 134,700 520.00 70,044,000 NINTENDO CO.,LTD. Loaned securities 394,200 16,270.00 6,413,634,000 70,000 shares MITSUBISHI PENCIL COMPANY,LIMITED Loaned securities 47,900 4,565.00 218,663,500 33,600 shares TAKARA STANDARD CO.,LTD. Loaned securities 265,000 935.00 247,775,000 3,000 shares KOKUYO CO.,LTD. Loaned securities 332,800 1,387.00 461,593,600 93,300 shares
NAKABAYASHI CO.,LTD. 125,000 231.00 28,875,000
GLOBERIDE,INC. 31,100 1,644.00 51,128,400
OKAMURA CORPORATION 223,400 962.00 214,910,800 MIZUNO CORPORATION Loaned securities 344,000 454.00 156,176,000 150,000 shares ADERANS COMPANY LIMITED Loaned securities 111,000 468.00 51,948,000 73,900 shares
TOKYO ELECTRIC HOLDINGS 5,430,200 403.00 2,188,370,600 CHUBU ELECTRIC POWER COMPANY,INCORPORATED 1,958,700 1,422.00 2,785,271,400 THE KANSAI ELECTRIC POWER COMPANY,INCORPORATED 2,612,300 956.70 2,499,187,410 THE CHUGOKU ELECTRIC POWER Loaned securities COMPANY,INCORPORATED 885,000 1,291.00 1,142,535,000 19,800 shares
HOKURIKU ELECTRIC POWER COMPANY 627,200 1,249.00 783,372,800 TOHOKU ELECTRIC POWER Loaned securities COMPANY,INCORPORATED 1,599,200 1,266.00 2,024,587,200 180,000 shares SHIKOKU ELECTRIC POWER Loaned securities COMPANY,INCORPORATED 576,400 1,142.00 658,248,800 79,200 shares KYUSHU ELECTRIC POWER Loaned securities COMPANY,INCORPORATED 1,413,800 994.00 1,405,317,200 858,200 shares HOKKAIDO ELECTRIC POWER COMPANY,INCORPORATED 599,100 779.00 466,698,900 THE OKINAWA ELECTRIC POWER Loaned securities COMPANY,INCORPORATED 101,900 2,127.00 216,741,300 11,000 shares
ELECTRIC POWER DEVELOPMENT CO.,LTD. 545,800 2,392.00 1,305,553,600
EF-ON INC. Loaned securities 26,500 687.00 18,205,500 18,400 shares 86
EREX CO.,LTD. Loaned securities 19,200 2,343.00 44,985,600 12,800 shares
TOKYO GAS CO.,LTD. 7,146,000 414.60 2,962,731,600 OSAKA GAS CO.,LTD. Loaned securities 6,626,000 390.50 2,587,453,000 275,000 shares TOHO GAS CO.,LTD. Loaned securities 1,614,000 866.00 1,397,724,000 151,000 shares HOKKAIDO GAS CO.,LTD. Loaned securities 156,000 276.00 43,056,000 47,000 shares
HIROSHIMA GAS CO.,LTD. 111,900 302.00 33,793,800
SAIBU GAS CO.,LTD. 721,000 242.00 174,482,000 SHIZUOKA GAS CO.,LTD. Loaned securities 181,600 713.00 129,480,800 300 shares METAWATER CO.,LTD. Loaned securities 41,200 2,903.00 119,603,600 28,700 shares
SBS HOLDINGS,INC. 63,600 693.00 44,074,800
TOBU RAILWAY CO.,LTD. 3,420,000 563.00 1,925,460,000
SOTETSU HOLDINGS,INC. 1,097,000 553.00 606,641,000
TOKYU CORPORATION 3,726,000 861.00 3,208,086,000 KEIKYU CORPORATION Loaned securities 1,754,000 1,028.00 1,803,112,000 50,000 shares ODAKYU ELECTRIC RAILWAY CO.,LTD. Loaned securities 2,051,000 1,197.00 2,455,047,000 84,000 shares
KEIO CORPORATION 1,789,000 956.00 1,710,284,000 KEISEI ELECTRIC RAILWAY CO.,LTD. Loaned securities 960,000 1,294.00 1,242,240,000 185,000 shares FUJI KYUKO CO.,LTD. Loaned securities 175,000 1,457.00 254,975,000 116,000 shares
SHIN-KEISEI ELECTRIC RAILWAY CO.,LTD. 79,000 375.00 29,625,000 EAST JAPAN RAILWAY COMPANY Loaned securities 1,170,200 9,339.00 10,928,497,800 168,700 shares
WEST JAPAN RAILWAY COMPANY 616,100 6,486.00 3,996,024,600 CENTRAL JAPAN RAILWAY COMPANY Loaned securities 573,200 18,065.00 10,354,858,000 256,200 shares
SEIBU HOLDINGS INC. 680,000 1,582.00 1,075,760,000 KONOIKE TRANSPORT CO.,LTD. Loaned securities 90,500 1,023.00 92,581,500 55,000 shares
NISHI-NIPPON RAILROAD CO.,LTD. 828,000 509.00 421,452,000 HAMAKYOREX CO.,LTD. Loaned securities 49,200 1,890.00 92,988,000 17,400 shares SAKAI MOVING SERVICE CO.,LTD. Loaned securities 25,200 2,897.00 73,004,400 17,000 shares
KINTETSU GROUP HOLDINGS CO.,LTD. 6,443,000 432.00 2,783,376,000
HANKYU HANSHIN HOLDINGS,INC. 4,296,000 756.00 3,247,776,000
87
NANKAI ELECTRIC RAILWAY CO.,LTD. 1,437,000 574.00 824,838,000 KEIHAN HOLDINGS Loaned securities 1,434,000 711.00 1,019,574,000 225,000 shares KOBE ELECTRIC RAILWAY CO.,LTD. Loaned securities 157,000 361.00 56,677,000 72,000 shares NAGOYA RAILROAD CO., LTD. Loaned securities 2,331,000 588.00 1,370,628,000 1,635,000 shares SANYO ELECTRIC RAILWAY CO.,LTD. Loaned securities 233,000 478.00 111,374,000 11,000 shares
NIPPON EXPRESS CO.,LTD. 2,476,000 469.00 1,161,244,000
YAMATO HOLDINGS CO.,LTD. 1,144,600 2,546.00 2,914,151,600 SANKYU INC. Loaned securities 843,000 527.00 444,261,000 1,000 shares MARUWN CORPORATION Loaned securities 34,500 239.00 8,245,500 5,000 shares
MARUZEN SHOWA UNYU CO.,LTD. 214,000 359.00 76,826,000 SENKO CO.,LTD. Loaned securities 287,900 617.00 177,634,300 182,200 shares
TONAMI HOLDINGS CO.,LTD. 131,000 264.00 34,584,000
NIKKON HOLDINGS Loaned securities 203,500 1,812.00 368,742,000 6,700 shares
JAPAN OIL TRANSPORTATION CO.,LTD. 72,000 218.00 15,696,000 FUKUYAMA TRANSPORTING CO.,LTD. Loaned securities 388,000 559.00 216,892,000 272,000 shares
SEINO HOLDINGS CO.,LTD. 454,000 973.00 441,742,000
KANAGAWA CHUO KOTSU CO.,LTD. 74,000 589.00 43,586,000 HITACHI TRANSPORT SYSTEM,LTD. Loaned securities 133,300 1,645.00 219,278,500 500 shares MARUWA UNYU KIKAN CO.,LTD. Loaned securities 19,100 3,010.00 57,491,000 12,800 shares CHILLED & FROZEN LOGISTICS HOLDINGS 61,300 1,031.00 63,200,300
NIPPON YUSEN KABUSHIKI KAISHA 5,746,000 169.00 971,074,000 MITSUI O.S.K.LINES,LTD. Loaned securities 3,117,000 202.00 629,634,000 2,165,000 shares KAWASAKI KISEN KAISHA,LTD. Loaned securities 2,801,000 244.00 683,444,000 1,978,000 shares
NS UNITED KAIUN KAISHA,LTD. 284,000 120.00 34,080,000
MEIJI SHIPPING CO.,LTD. 57,500 292.00 16,790,000 IINO KAIUN KAISHA,LTD. Loaned securities 331,100 357.00 118,202,700 100,000 shares KYOEI TANKER CO.,LTD. Loaned securities 51,000 147.00 7,497,000 25,000 shares INUI GLOBAL LOGISTICS CO., LTD. Loaned securities 50,500 860.00 43,430,000 100 shares
88
JAPAN AIRLINES CO.,LTD. 1,225,600 3,022.00 3,703,763,200 ANA HOLDINGS INC. Loaned securities 11,882,000 276.70 3,287,749,400 8,237,000 shares PASCO CORPORATION Loaned securities 58,000 295.00 17,110,000 40,000 shares
TRANCOM CO.,LTD. 18,500 6,600.00 122,100,000
NISSIN CORPORATION 262,000 281.00 73,622,000 MITSUBISHI LOGISTICS CORPORATION Loaned securities 455,000 1,360.00 618,800,000 8,000 shares
MITSUI-SOKO HOLDINGS CO.,LTD. 371,000 253.00 93,863,000
THE SUMITOMO WAREHOUSE CO.,LTD. 467,000 480.00 224,160,000
THE SHIBUSAWA WAREHOUSE CO.,LTD. 165,000 272.00 44,880,000
TOYO LOGISTICS CO.,LTD. 111,300 212.00 23,595,600
JAPAN TRANSCITY CORPORATION 146,000 346.00 50,516,000
THE KEIHIN CO.,LTD. 117,000 128.00 14,976,000
CHUO WAREHOUSE CO.,LTD. 36,800 892.00 32,825,600
YASUDA LOGISTICS CORPORATION 49,700 585.00 29,074,500 TOYO WHARF & WAREHOUSE CO.,LTD. Loaned securities 183,000 135.00 24,705,000 2,000 shares UTOC CORPORATION Loaned securities 53,100 287.00 15,239,700 100 shares
KAMIGUMI CO.,LTD. 764,000 893.00 682,252,000
SANRITSU CORPORATION 15,800 485.00 7,663,000
KIMURA UNITY CO.,LTD. 16,200 1,007.00 16,313,400 K. R. S. CORPORATION Loaned securities 17,600 2,523.00 44,404,800 12,200 shares YUSEN LOGISTICS CO.,LTD. Loaned securities 58,900 947.00 55,778,300 10,100 shares KINTETSU WORLD EXPRESS,INC. Loaned securities 114,500 1,213.00 138,888,500 45,000 shares
AZUMA SHIPPING CO.,LTD. 35,300 251.00 8,860,300 AIT CORPORATION Loaned securities 38,900 829.00 32,248,100 1,900 shares
NAIGAI TRANS LINE LTD. 20,900 902.00 18,851,800 NEC NETWORKS & SYSTEM INTEGRATION Loaned securities CORPORATION 79,200 1,828.00 144,777,600 29,200 shares SYSTENA CORPORATION Loaned securities 61,600 1,450.00 89,320,000 10,000 shares DIGITAL ARTS INC. Loaned securities 30,900 2,836.00 87,632,400 19,900 shares NS SOLUTIONS CORPORATION Loaned securities 105,300 1,487.00 156,581,100 5,000 shares
CUBE SYSTEM INC. 27,800 696.00 19,348,800
89
CORE CORPORATION Loaned securities 26,500 897.00 23,770,500 5,800 shares SOFTCREATE HOLDINGS CORP. Loaned securities 30,100 973.00 29,287,300 10,000 shares
TIS 209,400 2,230.00 466,962,000 NEOS CORPORATION Loaned securities 18,500 554.00 10,249,000 12,600 shares DENSAN SYSTEM CO.,LTD. Loaned securities 21,600 1,403.00 30,304,800 12,100 shares GREE,INC. Loaned securities 383,300 576.00 220,780,800 2,000 shares
KOEI TECMO HOLDINGS CO.,LTD. 149,900 1,811.00 271,468,900 MITSUBISHI RESEARCH INSTITUTE,INC. Loaned securities 24,500 3,025.00 74,112,500 4,000 shares VOLTAGE INCORPORATION Loaned securities 12,200 1,128.00 13,761,600 4,400 shares DENSAN CO.,LTD. Loaned securities 6,900 1,884.00 12,999,600 2,500 shares
AGS CORPORATION 14,000 972.00 13,608,000 FINDEX INC. Loaned securities 41,500 1,260.00 52,290,000 25,400 shares HITO-COMMUNICATIONS,INC. Loaned securities 14,400 1,797.00 25,876,800 9,500 shares BRAINPAD INC. Loaned securities 9,600 1,061.00 10,185,600 6,400 shares KLAB INC. Loaned securities 97,800 767.00 75,012,600 61,600 shares
POLETOWIN PITCREW HOLDINGS,INC. 41,900 738.00 30,922,200 EBOOK INITIATIVE JAPAN CO.,LTD. Loaned securities 14,200 832.00 11,814,400 9,800 shares
NEXON CO.,LTD. 607,000 1,477.00 896,539,000 ISTYLE INC. Loaned securities 96,100 745.00 71,594,500 65,400 shares M-UP,INC. Loaned securities 16,400 579.00 9,495,600 11,200 shares ATEAM INC. Loaned securities 34,800 1,832.00 63,753,600 24,000 shares TECNOS JAPAN INC. Loaned securities 18,300 1,930.00 35,319,000 12,800 shares ENISH,INC. Loaned securities 20,300 566.00 11,489,800 12,600 shares COLOPL,INC. Loaned securities 175,700 1,988.00 349,291,600 119,700 shares MOBILE CREATE CO.,LTD. Loaned securities 41,500 335.00 13,902,500 28,900 shares ALTPLUSINC. Loaned securities 23,900 333.00 7,958,700 15,900 shares BROADLEAF CO.,LTD. 63,600 948.00 60,292,800 Loaned securities 90
42,400 shares HEARTS UNITED GROUP CO.,LTD. Loaned securities 19,000 3,240.00 61,560,000 12,600 shares
MEDIA DO CO.,LTD. Loaned securities 13,500 1,811.00 24,448,500 8,800 shares V-CUBE, INC. Loaned securities 41,700 792.00 33,026,400 28,900 shares
CYBERLINKS CO.,LTD. 9,600 982.00 9,427,200
DLE INC. Loaned securities 17,400 889.00 15,468,600 12,100 shares VOYAGE GROUP Loaned securities 21,000 1,044.00 21,924,000 13,900 shares
OPTiM Corporation Loaned securities 5,100 4,740.00 24,174,000 3,100 shares VERISERVE CORPORATION Loaned securities 7,100 3,315.00 23,536,500 4,900 shares T-GAIA CORPORATION Loaned securities 62,900 1,439.00 90,513,100 43,400 shares
JAPAN ASIA GROUP LIMITED 71,000 387.00 27,477,000 MAMEZOU HOLDINGS CO.,LTD. Loaned securities 50,400 918.00 46,267,200 24,800 shares TECHMATRIX CORPORATION Loaned securities 27,100 2,310.00 62,601,000 18,900 shares
GUNGHO ONLINE EMTERTAINMENT, Loaned securities INC. 1,471,900 283.00 416,547,700 1,039,000 shares GMO PAYMENT GATEWAY,INC. Loaned securities 51,700 5,540.00 286,418,000 35,900 shares ZAPPALLAS,INC. Loaned securities 35,200 359.00 12,636,800 14,000 shares
INTERNET INITIATIVE JAPAN INC. 102,100 2,054.00 209,713,400
SAKURA INTERNET INC. Loaned securities 41,800 812.00 33,941,600 28,900 shares GMO CLOUD K.K. Loaned securities 14,100 1,015.00 14,311,500 8,400 shares
SRA HOLDINGS,INC. 36,400 2,068.00 75,275,200
MINORI SOLUTIONS CO.,LTD. 12,300 843.00 10,368,900 SYSTEM INTEGRATOR CORP. Loaned securities 8,400 634.00 5,325,600 2,200 shares
ASAHI NET,INC. 58,100 411.00 23,879,100 COMTURE CORPORATION Loaned securities 10,800 3,495.00 37,746,000 2,400 shares
CYBER COM CO., LTD. 7,000 791.00 5,537,000 GUMI INC. Loaned securities 65,100 810.00 52,731,000 45,900 shares
PIPEDO HD, INC. Loaned securities 8,000 946.00 7,568,000 5,300 shares
91
FAITH, INC. 16,400 1,034.00 16,957,600
HIMACS,LTD. 7,900 1,074.00 8,484,600
NOMURA RESEARCH INSTITUTE,LTD. 442,700 3,475.00 1,538,382,500 CYBERNET SYSTEMS CO.,LTD. Loaned securities 52,000 662.00 34,424,000 36,100 shares
CE HOLDINGS CO.,LTD. 9,800 905.00 8,869,000
INTAGE HOLDINGS INC. 33,000 1,563.00 51,579,000
TOHO SYSTEM SCIENCE CO.,LTD. 18,400 600.00 11,040,000 SOURCENEXT CORPORATION Loaned securities 32,600 496.00 16,169,600 14,800 shares
TYO INC. 125,000 164.00 20,500,000 FOCUS SYSTEMS COPORATION Loaned securities 24,900 440.00 10,956,000 4,700 shares
CRESCO LTD. 14,500 2,333.00 33,828,500 FUJI MEDIA HOLDINGS,INC. Loaned securities 657,900 1,110.00 730,269,000 14,800 shares
OBIC CO.,LTD. 217,800 5,550.00 1,208,790,000 JUSTSYSTEMS CORPORATION Loaned securities 114,800 843.00 96,776,400 41,000 shares
TDC SOFTWARE ENGINEERING INC. 27,700 583.00 16,149,100 YAHOO JAPAN CORPORATION Loaned securities 4,527,900 452.00 2,046,610,800 3,082,900 shares
TREND MICRO INCORPORATED 306,700 3,630.00 1,113,321,000
INFORMATION DEVELOPMENT CO.,LTD. 12,000 942.00 11,304,000 ORACLE CORPORATION JAPAN Loaned securities 101,400 5,580.00 565,812,000 1,500 shares
ALPHA SYSTEMS INC. 20,600 1,656.00 34,113,600
FUTURE, INC. 75,700 750.00 56,775,000
CAC HOLDINGS CORPORATION 47,100 778.00 36,643,800 SOFTBANK TECHNOLOGY CORP. Loaned securities 17,100 1,814.00 31,019,400 11,900 shares TOSE CO.,LTD. Loaned securities 16,500 631.00 10,411,500 7,400 shares OBIC BUSINESS CONSULTANTS CO.,LTD. Loaned securities 32,100 4,700.00 150,870,000 21,800 shares
ITOCHU TECHNO-SOLUTIONS CORPORATION 143,100 2,188.00 313,102,800
ITFOR INC. 82,700 501.00 41,432,700
TOUKEI COMPUTER CO.,LTD. 11,200 1,748.00 19,577,600
XNET CORPORATION 5,800 1,492.00 8,653,600 OTSUKA CORPORATION Loaned securities 169,900 4,765.00 809,573,500 40,000 shares CYBOZU,INC. 85,000 366.00 31,110,000 Loaned securities
92
9,400 shares SOFTBRAIN CO.,LTD. Loaned securities 92,300 482.00 44,488,600 65,000 shares INFORMATION SERVICES INTERNATIONAL- DENTSU,LTD. 38,800 1,692.00 65,649,600
DIGITAL GARAGE, INC. 98,700 2,147.00 211,908,900
EM SYSTEMS CO.,LTD. 21,000 1,245.00 26,145,000 WEATHERNEWS INC. Loaned securities 21,200 3,150.00 66,780,000 14,700 shares
COMPUTER INSTITUTE OF JAPAN,LTD. 58,200 447.00 26,015,400
TOYO BUSINESS ENGINEERING CORPORATION 6,200 1,371.00 8,500,200 NIHON ENTERPRISE CO.,LTD. Loaned securities 65,200 294.00 19,168,800 43,700 shares WOWOW INC. Loaned securities 30,100 2,287.00 68,838,700 16,200 shares FUSION PARTNERS CO. Loaned securities 39,600 538.00 21,304,800 27,400 shares NIPPON COLUMBIA CO.,LTD. Loaned securities 21,500 445.00 9,567,500 10,800 shares IMAGICA ROBOT HOLDINGS INC. Loaned securities 53,500 460.00 24,610,000 3,300 shares
NET ONE SYSTEMS CO.,LTD. 273,600 609.00 166,622,400
ARGO GRAPHICS INC. 28,700 1,548.00 44,427,600 MARVELOUS INC. Loaned securities 106,700 815.00 86,960,500 74,400 shares
AVEX GROUP HOLDINGS INC. 116,300 1,115.00 129,674,500 NIHON UNISYS,LTD. Loaned securities 174,400 1,291.00 225,150,400 20,000 shares
KANEMATSU ELECTRONICS LTD. 39,800 1,812.00 72,117,600 TOKYO BROADCASTING SYSTEM Loaned securities HOLDINGS,INC. 378,500 1,318.00 498,863,000 38,300 shares
NIPPON TELEVISION HOLDINGS,INC. 576,800 1,654.00 954,027,200
ASAHI BROADCASTING CORPORATION 62,800 605.00 37,994,000 TV ASAHI HOLDINGS CORPORATION Loaned securities 172,600 1,603.00 276,677,800 32,400 shares
SKY PERFECT JSAT HOLDINGS INC. 479,500 443.00 212,418,500 TV TOKYO HOLDINGS CORPORATION Loaned securities 57,200 1,963.00 112,283,600 38,800 shares NIPPON BS BROADCASTING CORPORATION Loaned securities 14,000 992.00 13,888,000 7,000 shares U-NEXT CO., LTD. Loaned securities 19,200 732.00 14,054,400 13,300 shares
WirelessGate INC. 18,500 1,591.00 29,433,500 CONEXIO CORPORATION Loaned securities 55,600 1,370.00 76,172,000 37,300 shares
93
JAPAN COMMUNICATIONS INC. Loaned securities 447,200 209.00 93,464,800 311,100 shares
CROPS CORPORATION 11,700 511.00 5,978,700 NIPPON TELEGRAPH AND TELEPHONE CORPORATION 4,883,700 4,829.00 23,583,387,300 KDDI CORPORATION Loaned securities 6,250,400 3,134.00 19,588,753,600 54,000 shares HIKARI TSUSHIN,INC. Loaned securities 75,900 8,580.00 651,222,000 22,000 shares
NTT DOCOMO,INC. 4,721,000 2,795.00 13,195,195,000 MTI LTD. Loaned securities 96,700 633.00 61,211,100 65,700 shares GMO INTERNET INC. Loaned securities 230,400 1,025.00 236,160,000 7,200 shares KADOKAWA CORPORATION Loaned securities 197,300 1,390.00 274,247,000 20,500 shares GAKKEN HOLDINGS CO.,LTD. Loaned securities 210,000 254.00 53,340,000 102,000 shares ZENRIN CO.,LTD. Loaned securities 83,500 1,916.00 159,986,000 29,100 shares
SHOBUNSHA PUBLICATIONS,INC. 34,800 536.00 18,652,800 IMPRESS HOLDINGS, INC. Loaned securities 52,500 131.00 6,877,500 25,700 shares
I-NET CORP. 35,200 1,077.00 37,910,400 SHOCHIKU CO.,LTD. Loaned securities 416,000 1,074.00 446,784,000 135,000 shares
TOHO CO.,LTD 450,800 2,696.00 1,215,356,800 TOEI COMPANY,LTD. Loaned securities 235,000 908.00 213,380,000 23,000 shares
AOI PRO.INC. 31,700 956.00 30,305,200
NTT DATA CORPORATION 390,300 4,725.00 1,844,167,500 PCA CORPORATION Loaned securities 7,800 1,172.00 9,141,600 2,500 shares
BUSINESS BRAIN SHOWA-OTA INC. 9,700 907.00 8,797,900
DTS CORPORATION 70,200 1,878.00 131,835,600 SQUARE ENIX HOLDINGS CO.,LTD. Loaned securities 267,400 3,290.00 879,746,000 1,500 shares COMPUTER ENGINEERING & CONSULTING Loaned securities LTD. 41,000 1,286.00 52,726,000 600 shares
CAPCOM CO.,LTD. 161,500 2,169.00 350,293,500
ISB CORPORATION 10,200 824.00 8,404,800 JASTEC CO.,LTD. Loaned securities 40,500 960.00 38,880,000 2,000 shares
SCSK CORPORATION 150,300 3,675.00 552,352,500 NIPPON SYSTEMWARE CO.,LTD. 23,800 1,021.00 24,299,800 Loaned securities
94
900 shares
INES CORPORATION 89,300 982.00 87,692,600
TKC CORPORATION 58,400 2,651.00 154,818,400
FUJI SOFT INCORPORATED 93,800 2,258.00 211,800,400
NSD CO., LTD. 134,000 1,623.00 217,482,000 KONAMI CORPORATION Loaned securities 285,200 4,050.00 1,155,060,000 11,400 shares
FUKUI COMPUTER HOLDINGS,INC. 18,100 2,085.00 37,738,500
JBCC HOLDINGS INC. 53,300 642.00 34,218,600
MIROKU JYOHO SERVICE CO.,LTD. 46,700 1,449.00 67,668,300 SOFTBANK GROUP CORP. Collateral securities 53,700 shares Loaned securities 3,579,800 5,399.00 19,327,340,200 668,500 shares
HOHSUI CORPORATION 48,000 106.00 5,088,000 TAKACHIHO KOHEKI CO.,LTD. Loaned securities 24,200 865.00 20,933,000 14,400 shares ITOCHU-SHOKUHIN CO.,LTD. Loaned securities 15,600 4,070.00 63,492,000 2,100 shares ELEMATEC CORPORATION Loaned securities 29,400 1,922.00 56,506,800 1,700 shares JALUX INC. Loaned securities 20,300 1,579.00 32,053,700 7,900 shares
ARATA CORPORATION 28,300 2,122.00 60,052,600
TOMEN DEVICES CORPORATION 9,500 1,790.00 17,005,000
TOKYO ELECTRON DEVICE LIMITED 22,500 1,482.00 33,345,000 FIELDS CORPORATION Loaned securities 55,200 1,176.00 64,915,200 25,100 shares SOJITZ CORPORATION Loaned securities 3,980,100 238.00 947,263,800 202,300 shares
ALFRESA HOLDINGS CORPORATION 794,100 2,119.00 1,682,697,900 YOKOHAMA REITO CO.,LTD. Loaned securities 156,400 1,076.00 168,286,400 34,800 shares SHINYEI KAISHA Loaned securities 83,000 108.00 8,964,000 53,000 shares YAMASHITA MEDICAL INSTRUMENTS CO.,LTD. Loaned securities 5,100 1,623.00 8,277,300 3,000 shares
RASA CORPORATION 29,200 469.00 13,694,800
RACCOON CO., LTD. Loaned securities 27,500 493.00 13,557,500 18,200 shares
ALCONIX CORPORATION 35,800 1,435.00 51,373,000 KOBE BUSSAN CO.,LTD. Loaned securities 41,000 1,959.00 80,319,000 24,000 shares AI HOLDINGS CORPORATION Loaned securities 112,500 2,232.00 251,100,000 41,700 shares 95
DVX INC. 22,200 1,225.00 27,195,000
DAIWABO HOLDINGS CO.,LTD. 574,000 216.00 123,984,000
MACNICA FUJI ELECTRONICS HOLDINGS,INC. 113,800 1,012.00 115,165,600 VITAL KSK HOLDINGS,INC. Loaned securities 109,500 993.00 108,733,500 57,900 shares
YASHIMA DENKI CO.,LTD. 49,100 515.00 25,286,500 UKC HOLDINGS CORPORATION Loaned securities 40,600 1,488.00 60,412,800 6,200 shares
OCHI HOLDINGS CO.,LTD. 18,400 981.00 18,050,400 TOKAI HOLDINGS CORPORATION Loaned securities 277,600 670.00 185,992,000 147,600 shares
SANYO TRADING CO.,LTD. 34,600 1,123.00 38,855,800
WIN-PARTNERS CO.,LTD. 22,600 1,394.00 31,504,400
MITACHI CO.,LTD. 16,500 534.00 8,811,000
SHIP HEALTHCARE HOLDINGS,INC. 128,300 3,105.00 398,371,500 MEIJI ELECTRIC INDUSTRIES CO.,LTD. Loaned securities 19,700 958.00 18,872,600 9,500 shares
DELICA FOODS CO.,LTD. 13,500 959.00 12,946,500 STARTIA,INC. Loaned securities 12,400 463.00 5,741,200 8,400 shares
FUJI KOSAN COMPANY,LTD. 25,300 405.00 10,246,500
KYOEI SANGYO CO.,LTD. 78,000 123.00 9,594,000
ONOKEN CO.,LTD. 55,100 1,170.00 64,467,000
SATORI ELECTRIC CO.,LTD. 50,500 658.00 33,229,000 ECHO TRADING CO.,LTD. Loaned securities 14,700 570.00 8,379,000 100 shares
HAKUTO CO.,LTD. 47,900 850.00 40,715,000
KONDOTEC INC. 50,600 707.00 35,774,200 NAKAYAMAFUKU CO.,LTD. Loaned securities 39,100 762.00 29,794,200 2,500 shares NAGAILEBEN CO.,LTD. Loaned securities 91,200 2,359.00 215,140,800 10,000 shares MITSUBISHI SHOKUHIN CO.,LTD. Loaned securities 69,300 2,694.00 186,694,200 4,100 shares MATSUDA SANGYO CO.,LTD. Loaned securities 45,900 1,258.00 57,742,200 2,500 shares
DAIICHIKOSHO CO., LTD. 111,700 4,295.00 479,751,500 MEDIPAL HOLDINGS CORPORATION Loaned securities 631,900 1,543.00 975,021,700 20,200 shares
ADVAN CO.,LTD. 64,500 830.00 53,535,000 SPK CORPORATION Loaned securities 14,600 1,968.00 28,732,800 100 shares
96
HAGIWARA ELECTRIC CO.,LTD. 21,400 1,868.00 39,975,200 AS ONE CORPORATION Loaned securities 49,300 4,160.00 205,088,000 600 shares SUZUDEN CORPORATION Loaned securities 20,300 891.00 18,087,300 6,500 shares
OIE SANGYO CO.,LTD. 20,500 864.00 17,712,000
SHIMOJIMA CO.,LTD. 43,500 1,064.00 46,284,000
DOSHISHA CO.,LTD. 74,300 1,978.00 146,965,400 OZU CORPORATION Loaned securities 13,800 1,995.00 27,531,000 9,600 shares
KOHSOKU CORPORATION 37,300 844.00 31,481,200 TAKEBISHI CORPORATION Loaned securities 22,100 994.00 21,967,400 15,400 shares KURODA ELECTRIC CO.,LTD. Loaned securities 117,600 1,773.00 208,504,800 17,000 shares
RIX CORPORATION 14,200 1,617.00 22,961,400
MARUBUN CORPORATION 56,100 560.00 31,416,000
HAPPINET CORPORATION 57,300 822.00 47,100,600
HASHIMOTO SOGYO HOLDINGS 13,100 1,453.00 19,034,300
JAPAN LIFELINE CO., LTD 30,400 3,870.00 117,648,000 EXCEL CO.,LTD. Loaned securities 30,700 1,283.00 39,388,100 15,200 shares
MARUKA MACHINERY CO.,LTD. 20,500 993.00 20,356,500 GULLIVER INTERNATIONAL CO.,LTD. Loaned securities 169,900 783.00 133,031,700 115,500 shares JAPAN MEDICAL DYNAMIC MARKETING,INC. Loaned securities 52,500 669.00 35,122,500 18,000 shares
SHINWA CO.,LTD. 37,200 1,355.00 50,406,000 SK JAPAN CO.,LTD. Loaned securities 15,500 245.00 3,797,500 10,800 shares
DAITO ELECTRON CO.,LTD. 28,900 552.00 15,952,800 SIIX CORPORATION Loaned securities 40,100 3,290.00 131,929,000 27,300 shares TANAKA CO.,LTD. Loaned securities 19,400 625.00 12,125,000 200 shares
OHASHI TECHNICA INC. 35,500 1,131.00 40,150,500
HAKUDO CO.,LTD. 18,000 1,056.00 19,008,000
ITOCHU CORPORATION 4,957,900 1,226.00 6,078,385,400 MARUBENI CORPORATION Loaned securities 6,218,000 459.00 2,854,062,000 4,330,600 shares
TAKASHIMA & CO.,LTD. 120,000 151.00 18,120,000
NAGASE & CO.,LTD. 379,800 1,076.00 408,664,800 CHORI CO.,LTD. 40,500 1,290.00 52,245,000 Loaned securities 97
12,000 shares TOYOTA TSUSHO CORPORATION Loaned securities 703,700 2,177.00 1,531,954,900 9,800 shares
SANKYO SEIKO CO.,LTD. 95,000 326.00 30,970,000
KANEMATSU CORPORATION 1,344,000 158.00 212,352,000
TSUKAMOTO CORPORATION CO.,LTD. 112,000 98.00 10,976,000 MITSUI & CO.,LTD. Loaned securities 5,713,500 1,188.00 6,787,638,000 237,300 shares
JAPAN PULP AND PAPER COMPANY LIMITED 328,000 334.00 109,552,000 HITACHI HIGH-TECHNOLOGIES CORPORATION Loaned securities 219,000 2,700.00 591,300,000 1,700 shares
KAMEI CORPORATION 82,100 756.00 62,067,600
TOHTO SUISAN CO.,LTD. 106,000 153.00 16,218,000
OUG HOLDINGS INC. 88,000 234.00 20,592,000 STARZEN COMPANY LIMITED Loaned securities 22,500 3,900.00 87,750,000 5,800 shares
YAMAZEN CORPORATION 242,500 797.00 193,272,500
TSUBAKIMOTO KOGYO CO.,LTD. 70,000 251.00 17,570,000 SUMITOMO CORPORATION (SUMITOMO SHOJI KAISHA,LTD.) 3,977,200 1,015.00 4,036,858,000
UCHIDA YOKO CO.,LTD. 156,000 462.00 72,072,000
MITSUBISHI CORPORATION 4,741,000 1,748.00 8,287,268,000
DAIICHI JITSUGYO CO.,LTD. 144,000 427.00 61,488,000
CANON MARKETING JAPAN INC. 180,200 1,870.00 336,974,000
SEIKA CORPORATION 200,000 232.00 46,400,000
SATO SHOJI CORPORATION 56,400 590.00 33,276,000 RYOYO ELECTRO CORPORATION Loaned securities 71,300 1,285.00 91,620,500 8,700 shares TOKYO SANGYO CO.,LTD. Loaned securities 62,000 333.00 20,646,000 100 shares
YUASA TRADING CO.,LTD. 59,800 2,100.00 125,580,000
SHINSHO CORPORATION 141,000 160.00 22,560,000 KOBAYASHI METALS LIMITED Loaned securities 42,000 254.00 10,668,000 200 shares
HANWA CO.,LTD. 631,000 541.00 341,371,000
KANADEN CORPORATION 60,200 886.00 53,337,200
RYODEN TRADING COMPANY,LIMITED 100,000 606.00 60,600,000
FURUSATO INDUSTRIES,LTD. 34,900 1,209.00 42,194,100 IWATANI CORPORATION Loaned securities 749,000 573.00 429,177,000 327,000 shares
NICE HOLDINGS,INC. 268,000 131.00 35,108,000
98
SHOKO CO.,LTD. Loaned securities 223,000 71.00 15,833,000 119,000 shares NICHIMO CO.,LTD. Loaned securities 99,000 159.00 15,741,000 4,000 shares
KYOKUTO BOEKI KAISHA,LIMITED 88,000 173.00 15,224,000
IWAKI & CO.,LTD. 95,000 183.00 17,385,000
SAN-AI OIL CO.,LTD. 155,300 594.00 92,248,200
INABATA & CO.,LTD. 151,500 906.00 137,259,000
GSI CREOS CORPORATION 167,000 91.00 15,197,000 MEIWA CORPORATION Loaned securities 58,600 296.00 17,345,600 3,000 shares
WAKITA & CO.,LTD. 134,500 645.00 86,752,500 TOHO HOLDINGS CO.,LTD. Loaned securities 202,200 2,328.00 470,721,600 77,600 shares
SANGETSU CO.,LTD. 220,000 1,924.00 423,280,000
MITSUUROKO GROUP HOLDINGS CO.,LTD. 102,000 485.00 49,470,000
SINANEN HOLDINGS 135,000 391.00 52,785,000 ITOCHU ENEX CO.,LTD. Loaned securities 162,600 949.00 154,307,400 55,000 shares SANRIO COMPANY,LTD. Loaned securities 194,800 1,720.00 335,056,000 132,200 shares
SUN-WA TECHNOS CORPORATION 40,600 718.00 29,150,800 RYOSAN COMPANY,LIMITED Loaned securities 100,200 2,357.00 236,171,400 15,000 shares
SHINKO SHOJI CO.,LTD. 74,100 959.00 71,061,900
TOHO CO.,LTD. 28,500 2,427.00 69,169,500
SANSHIN ELECTRONICS CO.,LTD. 87,300 810.00 70,713,000 TOYO CORPORATION Loaned securities 83,700 953.00 79,766,100 38,200 shares MOS FOOD SERVICES,INC. Loaned securities 82,700 2,908.00 240,491,600 40,300 shares
KAGA ELECTRONICS CO.,LTD. 57,100 1,152.00 65,779,200
SODA NIKKA CO.,LTD. 65,900 444.00 29,259,600
TACHIBANA ELETECH CO.,LTD. 46,600 1,042.00 48,557,200
FORVAL CORPORATION 33,100 715.00 23,666,500
PALTAC CORPORATION 101,100 2,139.00 216,252,900 MITANI SANGYO CO.,LTD. Loaned securities 67,000 310.00 20,770,000 46,600 shares
TAIHEIYO KOUHATSU INCORPORATED 266,000 66.00 17,556,000
YAMATANE CORPORATION 295,000 131.00 38,645,000 MARUBENI CONSTRUCTION MATERIAL LEASE CO.,LTD. 53,000 166.00 8,798,000
99
NIPPON STEEL & SUMIKIN BUSSAN CORPORATION 554,000 327.00 181,158,000
TRUSCO NAKAYAMA CORPORATION 72,200 5,190.00 374,718,000 AUTOBACS SEVEN CO.,LTD. Loaned securities 233,900 1,385.00 323,951,500 166,300 shares
KATO SANGYO CO.,LTD. 98,600 2,330.00 229,738,000
INNOTECH CORPORATION 57,700 408.00 23,541,600 YELLOW HAT LTD. Loaned securities 59,500 2,267.00 134,886,500 5,500 shares
JK HOLDINGS CO.,LTD. 63,800 460.00 29,348,000
NICHIDEN CORPORATION 26,100 3,060.00 79,866,000
KITAZAWA SANGYO CO.,LTD. 53,600 151.00 8,093,600
SUGIMOTO & CO.,LTD. 36,200 1,120.00 40,544,000
INABA DENKISANGYO CO.,LTD. 88,600 3,350.00 296,810,000 VITEC HOLDINGS Loaned securities 26,100 1,014.00 26,465,400 9,800 shares MISUMI GROUP INC. Loaned securities 709,600 1,686.00 1,196,385,600 488,200 shares
ALTECH CO.,LTD. 54,300 128.00 6,950,400
TAKIHYO CO.,LTD. 105,000 420.00 44,100,000
ZAOH COMPANY,LTD. 10,400 1,271.00 13,218,400
SUZUKEN CO.,LTD. 287,600 3,095.00 890,122,000
GECOSS CORPORATION 43,800 918.00 40,208,400 RENESAS EASTON CO.,LTD. Loaned securities 52,900 393.00 20,789,700 5,000 shares LAWSON,INC. Loaned securities 239,200 8,040.00 1,923,168,000 6,200 shares
SAN-A CO.,LTD. 42,900 4,990.00 214,071,000 DAIYU EIGHT CO.,LTD. Loaned securities 16,700 633.00 10,571,100 1,000 shares CAWACHI LIMITED Loaned securities 48,900 2,256.00 110,318,400 20,500 shares ABC-MART,INC. Loaned securities 82,000 6,610.00 542,020,000 27,000 shares
HARD OFF CORPORATION CO.,LTD. 30,400 1,154.00 35,081,600 ASKUL CORPORATION Loaned securities 76,900 3,405.00 261,844,500 42,600 shares GEO HOLDINGS CORPORATION Loaned securities 105,600 1,329.00 140,342,400 77,300 shares
ADASTRIA CO.,LTD. 116,400 3,285.00 382,374,000 G-FOOT Loaned securities 37,800 705.00 26,649,000 4,500 shares CVS BAY AREA INC. Loaned securities 84,000 70.00 5,880,000 45,000 shares 100
KURA CORPORATION Loaned securities 37,000 6,000.00 222,000,000 10,000 shares CAN DO CO.,LTD. Loaned securities 33,300 1,630.00 54,279,000 22,400 shares PAL CO.,LTD. Loaned securities 36,800 2,316.00 85,228,800 24,700 shares EDION CORPORATION Loaned securities 267,100 869.00 232,109,900 188,500 shares
SALA CORPORATION 88,700 549.00 48,696,300 WATTS CO.,LTD. Loaned securities 27,000 1,096.00 29,592,000 400 shares
HALOWS CO., LTD. Loaned securities 20,500 2,002.00 41,041,000 2,000 shares AMIYAKI TEI CO.,LTD. Loaned securities 12,300 4,085.00 50,245,500 8,300 shares HIRAMATSU INC. Loaned securities 86,900 630.00 54,747,000 50,000 shares GENKY STORES,INC. Loaned securities 12,700 3,745.00 47,561,500 6,600 shares
SAPPORO DRUG STORE CO.,LTD. 8,200 1,990.00 16,318,000
DAIKOKUTENBUSSAN CO.,LTD. 15,000 4,800.00 72,000,000 HONEYS.CO.,LTD. Loaned securities 55,400 1,364.00 75,565,600 38,700 shares PHARMARISE HOLDINGS CORPORATION Loaned securities 14,100 502.00 7,078,200 8,800 shares ALPEN CO.,LTD. Loaned securities 56,300 1,630.00 91,769,000 39,400 shares
QOL CO.,LTD. 64,100 1,288.00 82,560,800 JIN CO.,LTD. Loaned securities 42,900 4,075.00 174,817,500 29,100 shares BIC CAMERA INC. Loaned securities 362,700 924.00 335,134,800 64,600 shares DCM HOLDINGS CO.,LTD. Loaned securities 310,600 922.00 286,373,200 202,600 shares MONOTARO CO.,LTD. Loaned securities 223,400 3,135.00 700,359,000 155,000 shares TOKYO ICHIBAN FOODS CO.,LTD. Loaned securities 16,000 548.00 8,768,000 11,100 shares DIAMOND DINING Loaned securities 13,000 983.00 12,779,000 2,100 shares
KICHIRI & CO.,LTD. 16,500 593.00 9,784,500
ARCLAND SERVICE HOLDINGS 19,700 2,923.00 57,583,100
J.FRONT RETAILING CO.,LTD. 799,400 1,010.00 807,394,000 DOUTOR.NICHIRES HOLDINGS CO.,LTD. Loaned securities 110,600 1,795.00 198,527,000 6,600 shares
MATSUMOTOKIYOSHI HOLDINGS CO.,LTD. 130,300 4,595.00 598,728,500
BRONCO BILLY CO.,LTD. 33,000 3,445.00 113,685,000 101
START TODAY CO.,LTD. 192,200 5,220.00 1,003,284,000 TREASURE FACTORY CO.,LTD. Loaned securities 17,500 962.00 16,835,000 200 shares THE MONOGATARI CORPORATION Loaned securities 16,700 5,280.00 88,176,000 3,400 shares
COCOKARA FINE INC. 65,800 4,800.00 315,840,000 ISETAN MITSUKOSHI HOLDINGS LTD. Loaned securities 1,256,600 891.00 1,119,630,600 64,700 shares WELCIA HOLDINGS CO.,LTD. Loaned securities 54,700 6,930.00 379,071,000 2,000 shares CREATE SD HOLDINGS CO.,LTD. Loaned securities 93,000 2,615.00 243,195,000 23,000 shares MARUZEN CHI HOLDINGS CO.,LTD. Loaned securities 73,100 379.00 27,704,900 50,600 shares
MISAWA & CO.,LTD. 9,900 502.00 4,969,800 AP COMPANY CO.,LTD. Loaned securities 10,400 812.00 8,444,800 7,100 shares CHIMNEY CO.,LTD. Loaned securities 15,400 2,720.00 41,888,000 10,700 shares
SYUPPPIN CO., LTD. Loaned securities 23,700 1,082.00 25,643,400 16,300 shares NEXTAGE CO.,LTD. Loaned securities 10,600 820.00 8,692,000 7,400 shares JOYFUL HONDA CO.,LTD. Loaned securities 102,700 2,283.00 234,464,100 18,100 shares
TORIKIZOKU Loaned securities 15,500 2,083.00 32,286,500 10,700 shares
KIRINDO HOLDINGS CO.,LTD. 20,000 897.00 17,940,000 HOTLAND CO., LTD. Loaned securities 21,900 907.00 19,863,300 15,200 shares SKYLARK CO.,LTD Loaned securities 193,300 1,310.00 253,223,000 122,300 shares
WATAHAN & CO., LTD. Loaned securities 23,500 1,484.00 34,874,000 15,100 shares
UNITED SUPER MARKETS HOLDINGS INC. 209,400 990.00 207,306,000 BOOKOFF CORPORATION Loaned securities 35,900 818.00 29,366,200 25,300 shares
GOLF DIGEST ONLINE INC. Loaned securities 17,700 986.00 17,452,200 12,300 shares ASAHI CO.,LTD. Loaned securities 46,900 1,526.00 71,569,400 31,700 shares NIHON CHOUZAI CO.,LTD. Loaned securities 16,000 4,495.00 71,920,000 10,200 shares COSMOS PHARMACEUTICAL CORPORATION Loaned securities 31,800 19,690.00 626,142,000 13,800 shares
TOELL CO.,LTD. 30,500 789.00 24,064,500
ICHIROKUDO CO.,LTD. 15,500 316.00 4,898,000
102
SEVEN & I HOLDINGS CO.,LTD. 2,642,900 4,078.00 10,777,746,200
YAKUODO.CO.,LTD. 11,800 5,100.00 60,180,000 CREATE RESTAURANTS HOLDINGS INC. Loaned securities 169,500 955.00 161,872,500 43,000 shares TSURUHA HOLDINGS INC. Loaned securities 145,200 11,770.00 1,709,004,000 9,900 shares
SAINT MARC HOLDINGS CO.,LTD. 49,800 3,015.00 150,147,000 FELISSIMO CORPORATION Loaned securities 18,100 1,023.00 18,516,300 4,400 shares TORIDOLL.CORPORATION Loaned securities 77,500 3,055.00 236,762,500 30,000 shares KUSURI NO AOKI CO.,LTD. Loaned securities 56,200 4,925.00 276,785,000 3,000 shares MEDICAL SYSTEM NETWORK CO.,LTD. Loaned securities 71,000 456.00 32,376,000 48,500 shares SOGO MEDICAL CO.,LTD. Loaned securities 30,500 3,695.00 112,697,500 21,700 shares
HARUYAMA TRADING CO.,LTD. 26,100 726.00 18,948,600 KAPPA.CREATE Loaned securities 88,500 1,293.00 114,430,500 50,500 shares RIGHT ON CO.,LTD. Loaned securities 47,200 1,300.00 61,360,000 33,300 shares JEANS MATE CORPORATION Loaned securities 20,200 165.00 3,333,000 10,500 shares RYOHIN KEIKAKU CO.,LTD. Loaned securities 72,600 22,070.00 1,602,282,000 6,100 shares PARIS MIKI HOLDINGS INC. Loaned securities 77,900 403.00 31,393,700 2,000 shares
ALBIS CO.,LTD. 16,600 2,115.00 35,109,000
KONAKA CO.,LTD. 80,400 490.00 39,396,000 HOUSE OF ROSE CO.,LTD. Loaned securities 7,700 1,395.00 10,741,500 5,100 shares
G-7 HOLDINGS INC. 18,400 1,175.00 21,620,000 AEON HOKKAIDO CORPORATION Loaned securities 42,300 508.00 21,488,400 26,400 shares KOJIMA CO.,LTD. Loaned securities 94,400 238.00 22,467,200 22,100 shares HIMARAYA CO.,LTD. Loaned securities 19,500 910.00 17,745,000 12,500 shares KOHNAN SHOJI CO.,LTD. Loaned securities 89,600 1,935.00 173,376,000 1,800 shares ECO'S CO.,LTD. Loaned securities 24,300 1,217.00 29,573,100 15,800 shares WATAMI CO.,LTD. Loaned securities 74,900 1,062.00 79,543,800 42,100 shares MARCHE CORPORATION Loaned securities 15,400 817.00 12,581,800 9,800 shares
103
DON QUIJOTE HOLDINGS CO.,LTD. 408,600 3,565.00 1,456,659,000
NISHIMATSUYA CHAIN CO.,LTD. 124,500 1,522.00 189,489,000 ZENSHO HOLDINGS CO.,LTD. Loaned securities 324,900 1,543.00 501,320,700 113,500 shares KOURAKUEN HOLDINGS CORPORATION Loaned securities 39,900 1,526.00 60,887,400 26,800 shares HURXLEY CORPORATION Loaned securities 17,600 958.00 16,860,800 2,000 shares SAIZERIYA CO.,LTD. Loaned securities 103,900 1,830.00 190,137,000 200 shares
VT HOLDINGS CO.,LTD. 213,600 442.00 94,411,200 UORIKI CO.,LTD. Loaned securities 19,500 1,320.00 25,740,000 12,200 shares POPLAR CO.,LTD. Loaned securities 15,900 480.00 7,632,000 3,500 shares
UNITED ARROWS LTD. 90,200 3,070.00 276,914,000
HIDAY HIDAKA CORP. 57,400 2,502.00 143,614,800 KYOTO KIMONO YUZEN CO.,LTD. Loaned securities 43,700 805.00 35,178,500 22,400 shares COLOWIDE CO.,LTD. Loaned securities 209,600 1,852.00 388,179,200 148,100 shares
PC DEPOT COPORATION Loaned securities 69,700 1,420.00 98,974,000 49,100 shares ICHIBANYA CO.,LTD. Loaned securities 57,100 3,550.00 202,705,000 38,400 shares TOP CULTURE CO.,LTD. Loaned securities 22,800 455.00 10,374,000 6,600 shares
PLANT CO.,LTD. 14,100 1,120.00 15,792,000
SUGI HOLDINGS CO.,LTD. 113,300 4,930.00 558,569,000
SCROLL CORPORATION 95,100 350.00 33,285,000 YONDOSHI HOLDINGS INC. Loaned securities 48,100 1,901.00 91,438,100 33,900 shares FAMILYMART CO.,LTD. Loaned securities 194,100 6,200.00 1,203,420,000 134,600 shares KISOJI CO.,LTD. Loaned securities 77,300 2,241.00 173,229,300 48,200 shares SATO RESTAURANT SYSTEMS CO.,LTD. Loaned securities 74,300 808.00 60,034,400 52,500 shares SENSHUKAI CO.,LTD. Loaned securities 124,600 651.00 81,114,600 87,400 shares TAKA-Q CO.,LTD. Loaned securities 49,400 173.00 8,546,200 700 shares KEIYO CO.,LTD. Loaned securities 106,400 518.00 55,115,200 68,800 shares
JOSHIN DENKI CO.,LTD. 149,000 838.00 124,862,000 NIPPON GAS CO.,LTD. Loaned securities 96,500 2,244.00 216,546,000 43,600 shares 104
BEST DENKI CO.,LTD. Loaned securities 206,500 100.00 20,650,000 95,800 shares ROYAL HOLDINGS CO., LTD. Loaned securities 104,700 1,825.00 191,077,500 57,500 shares TOTENKO CO.,LTD. Loaned securities 45,000 129.00 5,805,000 21,000 shares INAGEYA CO.,LTD. Loaned securities 70,300 1,372.00 96,451,600 13,000 shares
SHIMACHU CO.,LTD. 163,400 2,208.00 360,787,200 CHIYODA CO.,LTD. Loaned securities 74,400 2,232.00 166,060,800 5,000 shares
LIFE CORPORATION 39,800 2,561.00 101,927,800 RINGER HUT CO.,LTD. Loaned securities 57,000 2,290.00 130,530,000 38,000 shares SAGAMI CO.,LTD. Loaned securities 48,000 75.00 3,600,000 31,000 shares
MR MAX CORPORATION 55,100 271.00 14,932,100 TEN ALLIED CO.,LTD. Loaned securities 59,100 364.00 21,512,400 1,200 shares AOKI HOLDINGS INC. Loaned securities 144,100 1,045.00 150,584,500 8,300 shares
OKUWA CO.,LTD. 99,000 1,032.00 102,168,000 KOMERI CO.,LTD. Loaned securities 97,300 2,546.00 247,725,800 43,300 shares
AOYAMA TRADING CO.,LTD. 121,100 3,675.00 445,042,500 SHIMAMURA CO.,LTD. Loaned securities 73,400 15,140.00 1,111,276,000 500 shares
HASEGAWA CO.,LTD. 30,300 414.00 12,544,200 TAKASHIMAYA COMPANY,LIMITED Loaned securities 919,000 697.00 640,543,000 12,000 shares MATSUYA CO.,LTD. Loaned securities 127,000 661.00 83,947,000 85,400 shares
H2O RETAILING CORPORATION 323,500 1,287.00 416,344,500 KINTETSU DEPARTMENT STORE CO.,LTD. Loaned securities 241,000 316.00 76,156,000 126,000 shares MARUEI DEPARTMENT STORE Loaned securities COMPANY,LIMITED 131,000 78.00 10,218,000 9,000 shares NISSEN HOLDINGS CO.,LTD. Loaned securities 93,800 91.00 8,535,800 63,900 shares PARCO CO.,LTD. Loaned securities 61,100 816.00 49,857,600 42,000 shares MARUI GROUP CO.,LTD. Loaned securities 775,500 1,399.00 1,084,924,500 390,600 shares
AXIAL RETAILING INC. 48,800 3,345.00 163,236,000 IZUTSUYA CO.,LTD. Loaned securities 352,000 42.00 14,784,000 212,000 shares AEON CO.,LTD. 2,599,600 1,444.50 3,755,122,200 Loaned securities 105
1,740,900 shares
UNY GROUP HOLDINGS CO.,LTD. 604,900 856.00 517,794,400
IZUMI CO.,LTD. 125,400 3,810.00 477,774,000
TOBU STORE CO.,LTD. 74,000 292.00 21,608,000
HEIWADO CO.,LTD. 128,000 1,872.00 239,616,000
FUJI CO.,LTD. 70,200 2,261.00 158,722,200
YAOKO CO.,LTD 71,600 4,340.00 310,744,000 XEBIO HOLDINGS Loaned securities 85,700 1,368.00 117,237,600 15,000 shares K'S HOLDINGS CORPORATION Loaned securities 266,800 2,026.00 540,536,800 185,000 shares OLYMPIC GROUP CORPORATION Loaned securities 36,900 503.00 18,560,700 4,200 shares NISSAN TOKYO SALES HOLDINGS CO.,LTD. Loaned securities 106,500 204.00 21,726,000 25,000 shares AIN HOLDINGS Loaned securities 76,100 6,920.00 526,612,000 2,000 shares GENKI SUSHI CO.,LTD. Loaned securities 17,700 2,047.00 36,231,900 11,500 shares YAMADA DENKI CO.,LTD. Loaned securities 1,921,200 536.00 1,029,763,200 1,331,800 shares
ARCLAND SAKAMOTO CO.,LTD. 106,900 1,130.00 120,797,000
NITORI HOLDINGS CO.,LTD. 273,000 13,120.00 3,581,760,000 GOURMET KINEYA CO.,LTD. Loaned securities 44,000 964.00 42,416,000 30,000 shares AIGAN CO.,LTD. Loaned securities 50,800 199.00 10,109,200 11,000 shares KU HOLDINGS CO.,LTD. Loaned securities 32,900 707.00 23,260,300 13,400 shares YOSHINOYA HOLDINGS CO.,LTD. Loaned securities 233,000 1,393.00 324,569,000 164,700 shares MATSUYA FOODS CO.,LTD. Loaned securities 30,500 2,758.00 84,119,000 3,600 shares SAGAMI CHAIN CO.,LTD. Loaned securities 84,300 1,192.00 100,485,600 59,200 shares KANSAI SUPER MARKET LTD. Loaned securities 51,300 985.00 50,530,500 34,900 shares
OHSHO FOOD SERVICE CORP. 46,300 3,790.00 175,477,000 PLENUS CO.,LTD. Loaned securities 70,600 1,750.00 123,550,000 35,400 shares MINISTOP CO.,LTD. Loaned securities 46,700 1,647.00 76,914,900 27,000 shares
ARCS COMPANY,LIMITED 118,200 2,586.00 305,665,200
VALOR HOLDINGS 136,100 2,656.00 361,481,600 FUJIKYU CORPORATION 4,800 1,674.00 8,035,200 Loaned securities
106
3,300 shares
BELC CO.,LTD. 31,100 4,280.00 133,108,000 DAISYO CORPORATION Loaned securities 33,800 1,527.00 51,612,600 100 shares FAST RETAILING CO.,LTD. Loaned securities 105,400 25,445.00 2,681,903,000 34,500 shares SUNDRUG CO.,LTD. Loaned securities 133,500 9,060.00 1,209,510,000 5,600 shares
SAC'S BAR HOLDINGS INC. 59,500 904.00 53,788,000
YAMAZAWA CO.,LTD. 13,100 1,680.00 22,008,000
YAMAYA CORPORATION 13,000 1,588.00 20,644,000
BELLUNA CO.,LTD. 157,500 573.00 90,247,500
THE SHIMANE BANK,LTD. 13,500 1,140.00 15,390,000 JIMOTO HOLDINGS,INC. Loaned securities 453,000 136.00 61,608,000 40,000 shares ASHIKAGA HOLDINGS CO.,LTD. Loaned securities 463,700 301.00 139,573,700 900 shares TOKYO TY FINANCIAL GROUP,INC. Loaned securities 87,100 2,017.00 175,680,700 15,700 shares
KYUSHU FINANCIAL GROUP,INC. 967,100 487.00 470,977,700
JAPAN POST BANK CO., LTD. Loaned securities 1,618,900 1,111.00 1,798,597,900 200,000 shares
THE FIRST BANK OF TOYAMA, LTD. Loaned securities 160,500 450.00 72,225,000 107,500 shares
CONCORDIA FINANCIAL GROUP, LTD. 4,401,700 379.00 1,668,244,300
SHINSEI BANK,LIMITED 5,467,000 134.00 732,578,000
AOZORA BANK,LTD. 3,997,000 339.00 1,354,983,000 MITSUBISHI UFJ FINANCIAL GROUP,INC. Collateral securities 50,693,300 428.70 21,732,217,710 434,200 shares
RESONA HOLDINGS, INC. 7,391,700 358.00 2,646,228,600
SUMITOMO MITSUI TRUST HOLDINGS,INC. 13,190,000 289.80 3,822,462,000 SUMITOMO MITSUI FINANCIAL GROUP,INC. Collateral securities 5,059,200 2,775.00 14,039,280,000 70,500 shares THE DAISHI BANK,LTD. Loaned securities 799,000 312.00 249,288,000 250,000 shares THE HOKUETSU BANK,LTD. Loaned securities 682,000 165.00 112,530,000 48,000 shares
THE NISHI-NIPPON CITY BANK, LTD. 2,059,000 167.00 343,853,000
THE CHIBA BANK,LTD. 2,436,000 445.00 1,084,020,000 THE JOYO BANK,LTD. Loaned securities 2,285,000 353.00 806,605,000 258,000 shares
THE GUNMA BANK,LTD. 1,404,000 346.00 485,784,000
THE MUSASHINO BANK,LTD. 100,800 2,166.00 218,332,800
107
THE CHIBA KOGYO BANK,LTD. 173,100 342.00 59,200,200
TSUKUBA BANK,LTD. 262,600 254.00 66,700,400 THE 77 BANK,LTD. Loaned securities 990,000 321.00 317,790,000 250,000 shares THE AOMORI BANK,LTD. Loaned securities 459,000 270.00 123,930,000 67,000 shares THE AKITA BANK,LTD. Loaned securities 411,000 291.00 119,601,000 20,000 shares THE YAMAGATA BANK,LTD. Loaned securities 355,000 378.00 134,190,000 235,000 shares THE BANK OF IWATE,LTD. Loaned securities 44,100 3,850.00 169,785,000 29,900 shares THE TOHO BANK,LTD. Loaned securities 565,000 307.00 173,455,000 14,000 shares THE TOHOKU BANK,LTD. Loaned securities 321,000 140.00 44,940,000 11,000 shares THE MICHINOKU BANK,LTD. Loaned securities 314,000 176.00 55,264,000 177,000 shares
FUKUOKA FINANCIAL GROUP,INC. 2,734,000 319.00 872,146,000
THE SHIZUOKA BANK,LTD. 1,851,000 657.00 1,216,107,000
THE JUROKU BANK,LTD. 791,000 251.00 198,541,000 SURUGA BANK LTD. Loaned securities 599,800 2,085.00 1,250,583,000 423,000 shares THE HACHIJUNI BANK,LTD. Loaned securities 1,142,900 419.00 478,875,100 341,300 shares THE YAMANASHI CHUO BANK,LTD. Loaned securities 391,000 348.00 136,068,000 89,000 shares THE OGAKI KYORITSU BANK,LTD. Loaned securities 843,000 269.00 226,767,000 39,000 shares THE FUKUI BANK,LTD. Loaned securities 540,000 214.00 115,560,000 40,000 shares THE HOKKOKU BANK,LTD. Loaned securities 671,000 266.00 178,486,000 70,000 shares THE SHIMIZU BANK,LTD. Loaned securities 21,200 2,131.00 45,177,200 14,500 shares
THE TOYAMA BANK, LTD. Loaned securities 12,200 3,300.00 40,260,000 8,200 shares THE SHIGA BANK,LTD. Loaned securities 593,000 427.00 253,211,000 8,000 shares THE NANTO BANK,LTD. Loaned securities 610,000 311.00 189,710,000 20,000 shares THE HYAKUGO BANK,LTD. Loaned securities 568,000 332.00 188,576,000 46,000 shares
THE BANK OF KYOTO,LTD. 1,206,000 580.00 699,480,000
THE KIYO BANK,LTD. 248,100 1,218.00 302,185,800
THE MIE BANK,LTD. 281,000 171.00 48,051,000
HOKUHOKU FINANCIAL GROUP,INC. 4,299,000 111.00 477,189,000 108
THE HIROSHIMA BANK,LTD. 1,864,000 315.00 587,160,000
THE SAN-IN GODO BANK,LTD. 379,900 615.00 233,638,500 THE CHUGOKU BANK,LIMITED Loaned securities 447,900 973.00 435,806,700 130,000 shares
THE TOTTORI BANK,LTD. 201,000 157.00 31,557,000
THE IYO BANK,LTD. 675,700 570.00 385,149,000 THE HYAKUJUSHI BANK,LTD. Loaned securities 693,000 285.00 197,505,000 2,000 shares THE SHIKOKU BANK LTD. Loaned securities 489,000 193.00 94,377,000 30,000 shares THE AWA BANK,LTD. Loaned securities 506,000 509.00 257,554,000 133,000 shares THE OITA BANK,LTD. Loaned securities 363,000 290.00 105,270,000 42,000 shares
THE MIYAZAKI BANK,LTD. 421,000 231.00 97,251,000
THE BANK OF SAGA LTD. 383,000 214.00 81,962,000
THE EIGHTEENTH BANK,LIMITED 389,000 228.00 88,692,000
THE BANK OF OKINAWA,LTD. 57,860 2,796.00 161,776,560 BANK OF THE RYUKYUS,LIMITED Loaned securities 130,100 979.00 127,367,900 35,900 shares SEVEN BANK,LTD. Loaned securities 2,367,500 293.00 693,677,500 1,661,200 shares MIZUHO FINANCIAL GROUP,INC. Collateral securities 89,604,500 142.00 12,723,839,000 1,456,700 shares THE BANK OF KOCHI,LTD. Loaned securities 245,000 99.00 24,255,000 112,000 shares YAMAGUCHI FINANCIAL GROUP,INC. Loaned securities 591,000 907.00 536,037,000 401,000 shares THE NAGANO BANK,LTD. Loaned securities 206,000 192.00 39,552,000 143,000 shares THE BANK OF NAGOYA,LTD. Loaned securities 530,000 298.00 157,940,000 362,000 shares
NORTH PACIFIC BANK,LTD. 951,700 257.00 244,586,900
THE AICHI BANK,LTD. 21,100 3,985.00 84,083,500 THE DAISAN BANK,LTD. Loaned securities 357,000 150.00 53,550,000 16,000 shares THE CHUKYO BANK,LIMITED Loaned securities 259,000 226.00 58,534,000 19,000 shares
THE TAIKO BANK,LTD. 223,000 172.00 38,356,000 THE EHIME BANK,LTD. Loaned securities 372,000 216.00 80,352,000 252,000 shares
TOMATO BANK,LTD. 242,000 133.00 32,186,000
THE MINATO BANK,LTD. 577,000 143.00 82,511,000 THE KEIYO BANK,LTD. Loaned securities 515,000 364.00 187,460,000 352,000 shares 109
KANSAI URBAN BANKING CORPORATION 88,000 863.00 75,944,000 THE TOCHIGI BANK,LTD. Loaned securities 327,000 319.00 104,313,000 2,000 shares
THE KITA-NIPPON BANK,LTD. 19,600 2,370.00 46,452,000
THE TOWA BANK,LTD. 1,183,000 77.00 91,091,000
THE FUKUSHIMA BANK,LTD. 777,000 86.00 66,822,000 THE DAITO BANK,LTD. Loaned securities 379,000 171.00 64,809,000 266,000 shares
TOMONY HOLDINGS,INC. 484,800 305.00 147,864,000 FIDEA HOLDINGS CO.LTD. Loaned securities 515,000 129.00 66,435,000 9,000 shares
SENSHU IKEDA HOLDINGS,INC. 670,000 364.00 243,880,000 FINANCIAL PRODUCTS GROUP CO.,LTD. Loaned securities 225,300 993.00 223,722,900 12,000 shares SBI HOLDINGS,INC. Loaned securities 758,800 952.00 722,377,600 164,100 shares JAPAN ASIA INVESTMENT COMPANY,LIMITED Loaned securities 43,000 298.00 12,814,000 29,900 shares JAFCO CO.,LTD. Loaned securities 105,600 2,369.00 250,166,400 5,200 shares
DAIWA SECURITIES GROUP INC. 5,911,000 513.90 3,037,662,900
NOMURA HOLDINGS,INC. 12,156,600 352.60 4,286,417,160 OKASAN SECURITIES GROUP INC. Loaned securities 538,000 436.00 234,568,000 126,000 shares MARUSAN SECURITIES CO.,LTD. Loaned securities 187,600 814.00 152,706,400 1,600 shares
TOYO SECURITIES CO.,LTD. 243,000 171.00 41,553,000
TOKAI TOKYO FINANCIAL HOLDINGS,INC. 725,200 414.00 300,232,800 THE KOSEI SECURITIES CO.,LTD. Loaned securities 153,000 102.00 15,606,000 91,000 shares
MITO SECURITIES CO.,LTD. 198,000 207.00 40,986,000
ICHIYOSHI SECURITIES CO.,LTD. 141,200 698.00 98,557,600 MATSUI SECURITIES CO.,LTD. Loaned securities 309,000 829.00 256,161,000 4,000 shares
DSB CO.,LTD. 30,300 542.00 16,422,600 MONEX GROUP,INC. Loaned securities 734,200 219.00 160,789,800 510,200 shares KABU.COM SECURITIES CO.,LTD. Loaned securities 538,700 304.00 163,764,800 237,900 shares KYOKUTO SECURITIES CO.,LTD. Loaned securities 84,700 1,041.00 88,172,700 51,300 shares
IWAICOSMO HOLDINGS,INC. 59,600 800.00 47,680,000 AIZAWA SECURITIES CO.,LTD. Loaned securities 118,000 490.00 57,820,000 10,700 shares
110
MONEY SQUARE HOLDINGS,INC. 21,700 782.00 16,969,400 MONEY PARTNERS GROUP CO.,LTD. Loaned securities 58,800 510.00 29,988,000 39,200 shares
KOBAYASHI YOKO CO.,LTD. 18,300 278.00 5,087,400
JAPAN POST INSURANCE CO., LTD. Loaned securities 257,100 1,927.00 495,431,700 20,000 shares
SOMPO JAPAN NIPPONKOA HOLDINGS,INC. 1,403,500 2,600.00 3,649,100,000 ANICOM HOLDINGS,INC. Loaned securities 42,800 2,683.00 114,832,400 12,000 shares
MS&AD INSURANCE GROUP HOLDINGS,INC. 1,888,100 2,429.00 4,586,194,900
SONY FINANCIAL HOLDINGS INC. 605,300 1,050.00 635,565,000 THE DAI-ICHI LIFE INSURANCE COMPANY,LIMITED 4,048,200 1,011.50 4,094,754,300
TOKIO MARINE HOLDINGS,INC. 2,559,800 3,252.00 8,324,469,600
T&D HOLDINGS, INC. 2,302,700 813.00 1,872,095,100 ZENKOKU HOSHO CO.,LTD. Loaned securities 164,200 3,845.00 631,349,000 33,000 shares
CREDIT SAISON CO.,LTD. 479,200 1,598.00 765,761,600 ACCRETIVE CO.,LTD. Loaned securities 52,300 328.00 17,154,400 4,500 shares
FUYO GENERAL LEASE CO.,LTD. 72,200 4,025.00 290,605,000 IBJ LEASING COMPANY,LIMITED Loaned securities 118,700 1,681.00 199,534,700 13,000 shares
CENTURY TOKYO LEASING CORPORATION 148,400 3,175.00 471,170,000 JAPAN SECURITIES FINANCE CO.,LTD. Loaned securities 278,300 363.00 101,022,900 196,200 shares AIFUL CORPORATION Loaned securities 1,058,000 297.00 314,226,000 730,500 shares POCKET CARD CO.,LTD. Loaned securities 63,100 494.00 31,171,400 700 shares RICOH LEASING COMPANY,LTD. Loaned securities 49,700 2,494.00 123,951,800 33,800 shares
AEON FINANCIAL SERVICE CO.,LTD. 414,500 2,140.00 887,030,000 ACOM CO.,LTD. Loaned securities 1,269,100 467.00 592,669,700 186,500 shares
JACCS CO.,LTD. 349,000 472.00 164,728,000 ORIENT CORPORATION Loaned securities 2,731,800 176.00 480,796,800 359,700 shares
HITACHI CAPITAL CORPORATION 148,900 1,731.00 257,745,900 APLUS FINANCIAL CO.,LTD. Loaned securities 306,200 89.00 27,251,800 209,900 shares
ORIX CORPORATION 4,474,000 1,251.00 5,596,974,000 MITSUBISHI UFJ LEASE & FINANCE COMPANY Loaned securities LIMITED 1,602,600 351.00 562,512,600 14,700 shares
111
JAPAN EXCHANGE GROUP,INC. Loaned securities 1,855,200 1,155.00 2,142,756,000 200,000 shares
EGUARANTEE,INC. 20,500 3,050.00 62,525,000
ASAX CO.,LTD. 11,200 1,336.00 14,963,200
NEC CAPITAL SOLUTIONS LIMITED 25,700 1,377.00 35,388,900
ICHIGO INC. Loaned securities 699,400 362.00 253,182,800 485,000 shares NIPPON PARKING DEVELOPMENT CO.,LTD. Loaned securities 759,800 129.00 98,014,200 405,500 shares
HULIC CO.,LTD. 1,317,300 978.00 1,288,319,400
SANEI ARCHITECTURE PLANNING CO.,LTD. 25,200 1,030.00 25,956,000 NOMURA REAL ESTATE HOLDINGS,INC. Loaned securities 419,100 1,656.00 694,029,600 31,100 shares
MIE KOTSU GROUP HOLDINGS,INC. 112,900 347.00 39,176,300
SAMTY CO.,LTD. 46,000 938.00 43,148,000
DEAR LIFE CO.,LTD. Loaned securities 43,300 312.00 13,509,600 30,100 shares
A.D.WORKS. CO., LTD. 585,000 36.00 21,060,000 NIPPON COMMERCIAL DEVELOPMENT Loaned securities CO.,LTD. 27,800 1,393.00 38,725,400 19,800 shares
PRESSANCE CORPORATION 21,300 3,860.00 82,218,000 UNIZO HOLDINGS COMPANY,LIMITED Loaned securities 39,400 3,495.00 137,703,000 26,600 shares JAPAN PROPERTY MANAGEMENT CENTER CO.,LTD. 41,500 1,258.00 52,207,000 SANSEI LANDIC CO.,LTD Loaned securities 14,400 734.00 10,569,600 10,000 shares
STRUST CO.,LTD. 11,000 515.00 5,665,000
HOOSIERS HOLDINGS 87,900 521.00 45,795,900 OPEN HOUSE CO.,LTD. Loaned securities 91,200 2,540.00 231,648,000 12,600 shares
TOKYU FUDOSAN HOLDINGS CORPORATION 1,528,500 570.00 871,245,000 IIDA GROUP HOLDINGS CO.,LTD. Loaned securities 585,200 2,019.00 1,181,518,800 89,200 shares
MUGEN ESTATE CO., LTD. 18,000 856.00 15,408,000
CRE, INC. 4,400 2,549.00 11,215,600 ECONACH HOLDINGS CO.,LTD. Loaned securities 203,000 38.00 7,714,000 49,000 shares PARK24 CO.,LTD. Loaned securities 319,100 3,355.00 1,070,580,500 156,100 shares
PARACA INC. 18,000 1,447.00 26,046,000
MITSUI FUDOSAN CO.,LTD. 3,350,000 2,039.00 6,830,650,000
MITSUBISHI ESTATE COMPANY,LIMITED 4,698,000 1,727.50 8,115,795,000
112
HEIWA REAL ESTATE CO.,LTD. Loaned securities 119,500 1,199.00 143,280,500 700 shares
TOKYO TATEMONO CO.,LTD. 690,000 1,143.00 788,670,000 DAIBIRU CORPORATION Loaned securities 162,600 802.00 130,405,200 10,000 shares
KEIHANSHIN BUILDING CO.,LTD. 104,700 494.00 51,721,800 SUMITOMO REALTY & DEVELOPMENT CO.,LTD. 1,514,000 2,453.50 3,714,599,000
DAIKYO INCORPORATED 1,174,000 142.00 166,708,000 TOC CO.,LTD. Loaned securities 244,900 770.00 188,573,000 80,000 shares
TOKYO RAKUTENCHI CO.,LTD. 103,000 471.00 48,513,000
LEOPALACE21 CORPORATION 744,200 688.00 512,009,600
STARTS CORPORATION INC. 72,500 1,881.00 136,372,500 FUJI CORPORATION LIMITED Loaned securities 80,500 635.00 51,117,500 42,500 shares
AIRPORT FACILITIES CO.,LTD. 76,300 471.00 35,937,300 MEIWA ESTATE COMPANY LIMITED Loaned securities 35,300 540.00 19,062,000 800 shares
SUMITOMO REAL ESTATE SALES CO.,LTD. 45,500 1,980.00 90,090,000 GOLDCREST CO.,LTD. Loaned securities 49,800 1,442.00 71,811,600 5,700 shares
NIHON ESLEAD CORPORATION 24,600 987.00 24,280,200
NISSHIN FUDOSAN CO.,LTD. 85,000 330.00 28,050,000
TAKARA LEBEN CO.,LTD. 275,500 779.00 214,614,500
SANYO HOUSING NAGOYA CO.,LTD. 32,500 879.00 28,567,500
AEON MALL CO.,LTD. 407,700 1,212.00 494,132,400
FIRST JUKEN CO,.LTD. 23,300 1,161.00 27,051,300
LAND CO.,LTD. 296,400 19.00 5,631,600 TOSEI CORPORATION Loaned securities 96,000 760.00 72,960,000 64,000 shares
ANABUKI KOSAN INC. 67,000 242.00 16,214,000
NTT URBAN DEVELOPMENT CORPORATION 392,500 1,014.00 397,995,000 SUN FRONTIER FUDOUSAN CO.,LTD. Loaned securities 76,600 963.00 73,765,800 51,600 shares
FJ NEXT CO.,LTD. 55,100 491.00 27,054,100 LAND BUSINESS CO.,LTD. Loaned securities 37,700 236.00 8,897,200 6,100 shares
GRANDY HOUSE CORPORATION 55,700 314.00 17,489,800 JAPAN AIRPORT TERMINAL CO.,LTD. Loaned securities 201,500 3,540.00 713,310,000 141,300 shares
NIPPON KOEI CO.,LTD. 223,000 299.00 66,677,000
113
NEXT CO.,LTD. Loaned securities 188,900 862.00 162,831,800 126,600 shares
JAC RECRUITMENT CO., LTD. Loaned securities 41,400 1,479.00 61,230,600 28,700 shares NIHON M&A CENTER INC. Loaned securities 103,300 6,610.00 682,813,000 15,000 shares NOVARESE,INC. Loaned securities 17,200 807.00 13,880,400 9,800 shares
ACCORDIA GOLF CO.,LTD. 185,300 1,048.00 194,194,400
CHUO CO., LTD. 6,200 603.00 3,738,600 TAKEEI CORPORATION Loaned securities 58,800 835.00 49,098,000 34,400 shares TRUST TECH INC. Loaned securities 26,800 1,317.00 35,295,600 5,000 shares PASONA GROUP INC. Loaned securities 58,100 750.00 43,575,000 40,600 shares CDS CO.,LTD. Loaned securities 15,300 745.00 11,398,500 7,800 shares LINK AND MOTIVATION INC. Loaned securities 133,900 209.00 27,985,100 95,100 shares GCA SAVVIAN CORPORATION Loaned securities 59,700 796.00 47,521,200 10,000 shares SMS CO.,LTD. Loaned securities 83,200 2,149.00 178,796,800 39,700 shares
TEMP HOLDINGS CO.,LTD. 468,800 1,701.00 797,428,800 LINICAL CO.,LTD. Loaned securities 39,400 1,489.00 58,666,600 24,000 shares COOKPAD INC. Loaned securities 149,000 1,371.00 204,279,000 77,600 shares
ESCRIT INC. 28,500 568.00 16,188,000 IKK INC. Loaned securities 35,500 538.00 19,099,000 24,300 shares GAKUJO CO.,LTD. Loaned securities 24,700 1,346.00 33,246,200 17,400 shares
STUDIO ALICE CO.,LTD. 30,700 2,392.00 73,434,400 CMIC HOLDINGS CO.,LTD. Loaned securities 33,800 1,570.00 53,066,000 17,700 shares
NJS CO.,LTD. 13,300 1,101.00 14,643,300
SOHGO SECURITY SERVICES CO.,LTD. 223,100 4,730.00 1,055,263,000 KAKAKU.COM,INC. Loaned securities 480,100 2,007.00 963,560,700 331,800 shares I'ROM GROUP CO.,LTD. Loaned securities 19,000 954.00 18,126,000 13,300 shares RENAISSANCE,INCORPORATED Loaned securities 34,100 1,103.00 37,612,300 14,200 shares
DIP CORPORATION 73,900 2,854.00 210,910,600
OPT HOLDING,INC. 41,900 787.00 32,975,300 114
SHIN NIPPON BIOMEDICAL Loaned securities LABORATORIES,LTD. 63,500 650.00 41,275,000 43,100 shares TSUKUI CORPORATION Loaned securities 79,200 1,677.00 132,818,400 6,100 shares
CAREER DESIGN CENTER CO.,LTD. 13,800 927.00 12,792,600 M3,INC. Loaned securities 579,000 3,645.00 2,110,455,000 105,100 shares TSUKADA GLOBAL HOLDINGS INC. Loaned securities 48,300 700.00 33,810,000 34,100 shares OUTSOURCING INC. Loaned securities 31,200 4,140.00 129,168,000 900 shares
WELLNET CORPORATION 50,200 2,078.00 104,315,600 DENA CO.,LTD. Loaned securities 299,800 2,442.00 732,111,600 1,300 shares
HAKUHODO DY HOLDINGS INCORPORATED 926,800 1,136.00 1,052,844,800 GURUNAVI,INC. Loaned securities 77,400 2,885.00 223,299,000 5,000 shares SRG TAKAMIYA CO.,LTD. Loaned securities 73,000 396.00 28,908,000 18,400 shares JAPAN BEST RESCUE SYSTEM CO.,LTD. Loaned securities 83,600 210.00 17,556,000 50,900 shares F@N COMMUNICATIONS INC. Loaned securities 154,300 836.00 128,994,800 108,000 shares J-COM HOLDINGS CO.,LTD. Loaned securities 14,000 2,426.00 33,964,000 9,800 shares
WDB HOLDINGS CO.,LTD. 23,700 846.00 20,050,200
TEAR CORPORATION 31,800 621.00 19,747,800 VALUECOMMERCE CO.,LTD. Loaned securities 61,600 324.00 19,958,400 6,700 shares
INFORMAT CORPORATION Loaned securities 128,900 961.00 123,872,900 65,100 shares JP-HOLDINGS,INC. Loaned securities 165,700 276.00 45,733,200 116,900 shares
EPS HOLDINGS,INC. 82,800 1,241.00 102,754,800
LEGS COMPANY,LTD. 12,800 680.00 8,704,000 PRESTIGE INTERNATIONAL INC. Loaned securities 56,500 1,529.00 86,388,500 700 shares AMUSE INC. Loaned securities 37,000 1,757.00 65,009,000 1,400 shares DREAM INCUBATOR INC. Loaned securities 22,000 1,852.00 40,744,000 14,200 shares
QUICK CO.,LTD. 34,100 788.00 26,870,800 TAC CO.,LTD. Loaned securities 37,700 184.00 6,936,800 19,600 shares KENEDIX, INC. Loaned securities 897,700 379.00 340,228,300 260,100 shares DENTSU INC. 745,200 4,435.00 3,304,962,000 Loaned securities 115
48,700 shares TAKE AND GIVE. NEEDS CO.,LTD. Loaned securities 30,900 388.00 11,989,200 21,700 shares PIA CORPORATION Loaned securities 20,100 2,112.00 42,451,200 13,100 shares AEON FANTASY CO.,LTD. Loaned securities 23,500 2,669.00 62,721,500 16,500 shares
CTS CORPORATION 19,700 758.00 14,932,600
NEXYZ.GROUP CORPORATION Loaned securities 23,900 1,239.00 29,612,100 16,500 shares
MIRACA HOLDINGS INC. 170,700 4,470.00 763,029,000
ALTECH CORPORATION 24,500 1,908.00 46,746,000 SANIX INCORPORATED Loaned securities 107,200 144.00 15,436,800 70,400 shares DAIOHS CORPORATION Loaned securities 12,200 940.00 11,468,000 5,300 shares NIPPON AIR CONDITIONING SERVICES CO.,LTD. 58,800 516.00 30,340,800
ORIENTAL LAND CO.,LTD. 722,900 6,359.00 4,596,921,100 DUSKIN CO.,LTD. Loaned securities 171,400 1,692.00 290,008,800 1,500 shares
MEIKO NETWORK JAPAN CO.,LTD. 82,900 1,261.00 104,536,900
FALCO HOLDINGS CO.,LTD. 29,200 1,317.00 38,456,400
SHUEI YOBIKO CO.,LTD. 12,300 367.00 4,514,100 TAYA CO.,LTD. Loaned securities 11,000 672.00 7,392,000 4,600 shares ROUND ONE CORPORATION Loaned securities 208,700 831.00 173,429,700 90,000 shares
RESORTTRUST,INC. 280,400 2,095.00 587,438,000
BML,INC. 39,400 4,785.00 188,529,000
WATABE WEDDING CORPORATION 19,700 411.00 8,096,700
RELIA, INC. Loaned securities 110,500 1,012.00 111,826,000 36,000 shares RISO KYOIKU CO.,LTD. Loaned securities 124,300 407.00 50,590,100 10,200 shares
WASEDA ACADEMY CO.,LTD. 8,300 851.00 7,063,300
USS CO.,LTD. 809,400 1,589.00 1,286,136,600 TOKYO INDIVIDUALIZED EDUCATIONAL Loaned securities INSTITUTE,INC. 32,500 633.00 20,572,500 10,000 shares CYBERAGENT,INC. Loaned securities 175,900 6,200.00 1,090,580,000 56,500 shares
RAKUTEN,INC. 3,130,300 1,050.00 3,286,815,000 TOW CO.,LTD. Loaned securities 53,800 575.00 30,935,000 25,100 shares
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CENTRAL SPORTS CO.,LTD. 22,700 2,305.00 52,323,500 FULLCAST HOLDINGS CO.,LTD. Loaned securities 61,700 821.00 50,655,700 17,500 shares
RESORT SOLUTION CO.,LTD. 66,000 292.00 19,272,000 TECHNOPRO HOLDINGS,INC. Loaned securities 108,300 3,315.00 359,014,500 3,100 shares
INTERWORKS INC. Loaned securities 11,500 1,196.00 13,754,000 7,900 shares KEEPER GIKEN Loaned securities 7,200 1,501.00 10,807,200 3,500 shares
FIRSTLOGIC,INC. Loaned securities 3,500 1,746.00 6,111,000 400 shares LIVESENSE INC. Loaned securities 44,700 407.00 18,192,900 31,200 shares JAPAN MATERIAL CO.,LTD. Loaned securities 27,900 3,900.00 108,810,000 19,900 shares VECTOR INC. Loaned securities 20,600 2,996.00 61,717,600 9,900 shares
UCHIYAMA HOLDINGS CO.,LTD. 34,100 422.00 14,390,200 SUCCESS HOLDINGS COMPANY LIMITED Loaned securities 6,200 1,167.00 7,235,400 3,500 shares
CAREERLINK CO.,LTD. 17,000 927.00 15,759,000
IBJ 52,600 602.00 31,665,200 ASANTE INCORPORATED Loaned securities 24,500 1,464.00 35,868,000 5,800 shares N.FIELD CO.,LTD. Loaned securities 31,500 1,812.00 57,078,000 22,200 shares M&A CAPITAL PARTNERS CO.,LTD. Loaned securities 8,300 2,292.00 19,023,600 5,800 shares RIDE ON EXPRESS CO.,LTD. Loaned securities 14,300 1,412.00 20,191,600 9,700 shares ERI HOLDINGS CO.,LTD. Loaned securities 16,700 751.00 12,541,700 7,100 shares
ABIST CO.,LTD. 10,300 2,029.00 20,898,700
WILL GROUP,INC. 15,300 921.00 14,091,300
NIPPON VIEW HOTEL CO., LTD. Loaned securities 9,700 1,249.00 12,115,300 4,800 shares
RECRUIT HOLDINGS CO.,LTD. 1,348,400 3,760.00 5,069,984,000 ELAN Loaned securities 7,000 1,329.00 9,303,000 4,900 shares
JAPAN POST HOLDINGS 1,966,200 1,188.00 2,335,845,600
BELLSYSTEMS24, INC. Loaned securities 130,800 767.00 100,323,600 91,600 shares RELO GROUP INC. Loaned securities 25,100 16,780.00 421,178,000 2,500 shares TOSHO CO.,LTD. Loaned securities 19,900 4,620.00 91,938,000 5,000 shares 117
H.I.S.CO.,LTD. Loaned securities 109,000 3,085.00 336,265,000 76,800 shares
LUCKLAND CO.,LTD. Loaned securities 9,600 1,526.00 14,649,600 6,600 shares KYORITSU MAINTENANCE CO.,LTD. Loaned securities 50,300 6,310.00 317,393,000 36,300 shares ICHINEN HOLDINGS CO.,LTD. Loaned securities 70,000 907.00 63,490,000 3,300 shares
CTI ENGINEERING CO.,LTD. 39,300 777.00 30,536,100
SPACE CO.,LTD. 36,000 1,119.00 40,284,000
SAN HOLDINGS,INC. 13,500 1,331.00 17,968,500
SUBARU ENTERPRISE CO.,LTD. 47,000 382.00 17,954,000
TOKYO THEATRES COMPANY,INCORPORATED 253,000 113.00 28,589,000
NAGAWA 12,200 3,510.00 42,822,000
YOMIURI LAND.CO.,LTD. 134,000 431.00 57,754,000 TOKYOTOKEIBA CO.,LTD. Loaned securities 457,000 201.00 91,857,000 25,000 shares
JOBAN KOSAN CO.,LTD. 245,000 148.00 36,260,000
KANAMOTO CO.,LTD. 93,300 1,841.00 171,765,300
TOKYO DOME CORPORATION 533,000 453.00 241,449,000 NISHIO RENT ALL CO.,LTD. Loaned securities 53,900 2,023.00 109,039,700 4,000 shares AGORA HOSPITALITY GROUP CO.,LTD. Loaned securities 335,000 34.00 11,390,000 24,000 shares TRANSCOSMOS INC. Loaned securities 77,600 2,877.00 223,255,200 21,600 shares NOMURA CO.,LTD. Loaned securities 143,000 1,604.00 229,372,000 12,400 shares FUJITA KANKO INC. Loaned securities 243,000 342.00 83,106,000 164,000 shares KNT-CT HOLDINGS CO.,LTD. Loaned securities 324,000 131.00 42,444,000 73,000 shares
NIPPON KANZAI CO.,LTD. 57,300 1,647.00 94,373,100 TOKAI CORP. Loaned securities 29,600 3,005.00 88,948,000 1,500 shares
HAKUYOSHA COMPANY,LTD. 6,800 2,394.00 16,279,200
SECOM CO.,LTD. 695,600 7,443.00 5,177,350,800 CENTRAL SECURITY PATROLS CO.,LTD. Loaned securities 29,500 1,945.00 57,377,500 1,900 shares TANSEISHA CO.,LTD. Loaned securities 125,200 712.00 89,142,400 60,000 shares MEITEC CORPORATION Loaned securities 80,900 3,535.00 285,981,500 2,800 shares ASATSU-DK INC. Loaned securities 117,300 2,219.00 260,288,700 15,800 shares 118
OYO CORPORATION Loaned securities 63,100 1,006.00 63,478,600 44,500 shares
FUNAI SOKEN HOLDINGS INCORPORATED 93,000 1,299.00 120,807,000
SHINGAKUKAI CO.,LTD. 32,100 494.00 15,857,400
OHBA CO.,LTD. 49,000 390.00 19,110,000
GAKKYUSHA CO., LTD. 9,800 1,140.00 11,172,000 BENESSE HOLDINGS,INC. Loaned securities 224,000 2,376.00 532,224,000 157,300 shares
AEON DELIGHT CO.,LTD. 64,600 2,828.00 182,688,800 NAC CO.,LTD. Loaned securities 41,200 792.00 32,630,400 15,900 shares NICHII GAKKAN COMPANY Loaned securities 116,200 658.00 76,459,600 79,200 shares DAISEKI CO.,LTD. Loaned securities 125,500 1,787.00 224,268,500 22,700 shares
STEP CO.,LTD. 22,300 1,060.00 23,638,000 Total 1,059,248,360 1,146,640,991,470
(2) Non-stock securities N/A
2 Schedule of Balances of Margin Transaction Contracts N/A 3 Amounts of Derivatives Transactions and Forward Exchange Transactions and Market Value Status These are stated in “Notes (Notes Regarding Derivative Transactions etc.)”.
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2. Current Status of the Fund
The following is the current status of the Fund as of July 29, 2016. Listed Index Fund TOPIX Statement of calculation of net assets
I Total assets 1,410,213,942,163 yen II Total liabilities 142,382,180,671 yen III Net assets (I-II) 1,267,831,761,492 yen IV Number of outstanding units 952,691,359 units V Net assets per unit (III / IV) 1,330.79 yen
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IV. Outline of Administration of Domestic Investment Trust Beneficiary Certificates
(1) Title Transfer Except when the Management Company issues beneficiary certificates for unavoidable reasons, unitholders may not request to have their bearer beneficiary certificates converted to registered beneficiary certificates, or vice versa. (2) Special Privileges to Unitholders N/A (3) Restrictions on Transfers i) There are no restrictions on transfers. ii) Transfer of Units When transferring the Units he or she owns, a unitholder must submit a request for transfer to the Book-Entry Transfer Institution, Etc. that maintains a book-entry transfer account book in which the Units that the unitholder intends to transfer are listed or recorded. When a request referred to in the preceding paragraph is made, the Book-Entry Transfer Institution, Etc. lists or records a decrease in the number of Units owned by the unitholder making the transfer and an increase in the number of Units held by the transferee in the book-entry transfer account book that it maintains. However, in the event that the Book-Entry Transfer Institution, Etc. is not the institution that created the account to which the transfer is made, the Book-Entry Transfer Institution, Etc. shall inform the different book-entry transfer institution, etc. that opened the account of the transferee to which the transfer is made (and its upper-positioned institutions) to add an entry or record of the increase in the number of Units in the account of the transferee to which the transfer is made pursuant to the provisions of the Act on Book- Entry Transfer of Company Bonds, Shares, etc. In connection with the above-mentioned book-entry transfer, the Management Company may establish a day or a period of book-entry transfer suspension when it deems necessary or determines that unavoidable circumstances exist, such as when the Book-Entry Transfer Institution, Etc. that maintains the book-entry transfer account book in which the Units the unitholder intends to transfer is listed or recorded is different from the book-entry transfer institution, etc. that opened the account of the transferee to which the transfer is made. iii) Requirements for Perfection of the Transfer of Units The transfer of Units may not be asserted against the Management Company or the Trustee Company unless such a transfer is listed or recorded in the book-entry transfer account book. (4) Reissue of Beneficiary Certificates Unitholders may not request that their beneficiary certificates be reissued except when the Management Company issues such certificates for unavoidable reasons. (5) Subdivision the Units The Management Company may equally subdivide the Units outstanding as of a certain date upon consultation with the Trustee Company pursuant to the provisions of the Act on Book- Entry Transfer of Company Bonds, Shares, etc.
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(6) Handling of Units Listed or Recorded in the Pledge Column The payment of income dividends, acceptance of a request for an Exchange and delivery of exchanged shares (including Exchanges upon termination of the trust) in connection with the Units listed or recorded in the pledge column of the book-entry transfer account book of the Book-Entry Transfer Institution, Etc. are handled in accordance with the provisions of the trust deed, as well as those of the Civil Code and other laws and regulations.
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PART III. Information on the Management Company, Etc. I. Profile of the Management Company, Etc. 1. Profile of the Management Company, Etc. (1) Amount of Capital As of July 31, 2016 Capital 17,363,045,900 yen Total Number of Authorized Shares 230,000,000 shares Total Number of Issued Shares 197,012,500 shares
● Major Changes in Capital over the Past Five Years: There is no applicable item.
(2) The Company’s Decision-making Body ● Shareholders’ Meeting (As of July 31, 2016) Discussions and decisions for the company's fundamental policy and important matters such as the appointment of directors and corporate auditors, and amendments to the articles of incorporations are made during the Shareholders' Meeting. Shareholders with voting rights listed or recorded in the final shareholder registry as of March 31 of each year are deemed as shareholders with the right to exercise their rights at the annual shareholders’ meeting for the relevant business year. Annual shareholders’ meetings are convened within three months of March 31 of each year (the end of the business year) and extraordinary shareholders’ meetings are convened as necessary. ● Board of Directors The board of directors determines the company’s business execution and monitors the execution of directors’ duties. The board of directors is constituted by no more than ten directors and the terms of office of such directors shall be up until the end of the annual shareholders’ meeting for the most recent business year ending within one year after appointment. The board of directors selects a few representative directors by means of a resolution. ● Audit Committee The audit committee is constituted by no more than five corporate auditors and the terms of office of such corporate auditors shall be up until the end of the annual shareholders’ meeting for the most recent business year ending within four years after appointment. The audit committee selects full-time auditors by means of a resolution.
(3) Decision-making Process for Management (As of July 31, 2016) 1. Domestic and international economic forecasts and market outlooks and basic principles for asset allocation are determined at Investment Committee meetings. 2. The respective fund management departments establish specific management principles for individual assets and asset allocation strategies pursuant to determinations by the Investment Committee. 3. Based on the policies above, the fund managers for each fund management department build and manage the portfolio in accordance with guidelines for each of the funds and management principals thereof.
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4. The Trading Department determines the best company for order execution and execution policies in terms of social credibility, information services and execution capabilities. Traders then execute trade in accordance with best execution processes. 5. Regarding the evaluations and analyses of the investment status and the investment risk management, also monitoring the laws and regulation compliance status, the Risk Management/Compliance Business Department takes responsibilities. The departments are independent and separate from the investment department and provide reports to the investment department to maintain the investment system appropriately.
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2. Kinds of Business and Overview of Business ● The Management Company which is a settlor company of investment trusts as defined in the “Act on Investment Trusts and Investment Corporations” creates securities investment trusts and engages in management (investment management business) as a financial instruments business operator as defined in the Financial Instruments and Exchange Act. In addition, the Management Company also engages in the investment advisory business as defined in the Financial Instruments and Exchange Act. ● The investment trusts that the Management Company manages as of July 31, 2016 are as follows: Net Asset Value Type Number of Funds (100 million yen) Total Investment Trusts 631 113,737 Stock Investment Trusts 581 91,617 Unit type 131 4,941 Open-end type 450 86,676 Bond Investment Trusts 50 22,119 Unit type 36 450 Open-end type 14 21,669
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3. Financial Condition of the Management Company, Etc.
1. The Financial Statements of the fund are prepared in accordance with the Ordinance on Terminology, Forms and Preparation Methods of Financial Statements, etc. (Ministry of Finance Ordinance No. 59 of 1963; hereinafter referred to as “Financial Statements Regulation”) and the Cabinet Office Ordinance on Financial Instruments Business, etc. (Cabinet Office Ordinance No. 52 of August 6, 2007), pursuant to the provision of Article 2 of the above Regulation.
2. Pursuant to the provision of paragraph 1 of Article 193-2 of the Financial Instruments and Exchange Act, the Company’s Financial Statements for the 57th fiscal year (from April 1, 2015 to March 31, 2016) were audited by KPMG AZSA LLC.
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Independent Auditors’ Report
June 13, 2016 The Board of Directors Nikko Asset Management Co., Ltd.
KPMG AZSA LLC
Certified Public Accountant Designated Partner Engagement Partner Noriaki Habuto
Designated Partner Certified Public Accountant
Engagement Partner Tomoaki Takeuchi
We conducted an audit of the financial statements, including the balance sheet, the statements of income, the statement of changes in net assets, important accounting policies and related notes for the 57th fiscal year from April 1, 2015 to March 31, 2016 for Nikko Asset Management Co., Ltd., which is shown in the section headed “State of Accounting of the Management Company, etc.,” to provide audit certification as provided in paragraph 1 of Article 193-2 of the Financial Instruments and Exchange Act.
Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in Japan, and to establish and operate for such internal control system as management determines is necessary to enable preparation and fair presentation of the financial statements that are free from material misstatements, whether due to fraud or error.
Auditors’ Responsibility Our responsibility is to express an opinion on the financial statements based on our audit as independent auditor. We conducted our audit in accordance with the auditing standards generally accepted in Japan. Those standards require that we develop an audit plan and conduct the audit based on it to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosure in the financial statements. The procedures are selected and applied depend on our judgment, based on the assessment of the risks of material misstatement in the financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, while the purpose of the financial statements audit is not to express an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Auditors’ Opinion We accept that the above financial statements properly indicate the financial conditions as of March 31, 2015 and the business performance for the fiscal year ended March 31, 2016 of Nikko Asset Management Co., Ltd. in all important points, in accordance with corporate accounting standards that are generally accepted in Japan.
Interest Our firm and engagement partners have no interest in the Company which should be disclosed pursuant to the provisions of the Certified Public Accountants Act. (Note) The above are matters described in the original audit report, which was turned into an electronic format. The Company is in possession of the original.
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(1) Balance Sheet
(Unit: million yen) 56th Year 57th Year
(March 31, 2015) (March 31, 2016)
Assets Current assets Cash and deposits *3 14,206 *3 14,308 Money in trust － *3 153 Securities 277 86 Prepaid expenses *3 509 *3 489 Accounts receivable - other 3 10 Accrued investment trust management 8,441 9,374 fee Accrued income *3 1,566 *3 2,280 Short-term loans receivable from 436 5,333 subsidiaries and affiliates Advances paid 666 2,960 Deferred tax assets 1,446 819 Other *2 195 *2,3 428 Total current assets 27,750 36,243 Non-current assets Property, plant and equipment Buildings *1 56 *1 146 Furniture and fixtures *1 166 *1 210 Total non-current assets 222 356 Intangible assets Software 113 140 Total intangible assets 113 140 Investments and other assets Investment securities 14,184 12,195 Shares of subsidiaries and affiliates 21,702 21,702 Long-term loans receivable from 60 60 subsidiaries and affiliates Long-term guarantee deposits 740 781 Long-term prepaid expenses 0 0 Deferred tax assets 248 425 Total investments and other assets 36,936 35,165 Total non-current assets 37,273 35,662 Total assets 65,023 71,905
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(Unit: million yen) 56th Year 57th Year
(March 31, 2015) (March 31, 2016)
Liabilities Current liabilities Deposits received 387 410 Accounts payable 5,545 3,841 Unpaid dividends 6 6 Unpaid redemption 112 112 Unpaid commission *3 3,145 *3 3,269 Other accounts payable 2,282 453 Accrued expenses *3 4,636 *3 4,920 Accrued corporate income taxes payable 814 354 Accrued consumption taxes *4 1,070 *4 649 Short-term loans payable to － 5,631 subsidiaries and affiliated companies Provision for bonuses 1,990 2,080 Provision for directors' bonuses 120 145 Other *3 82 278 Total current liabilities 14,646 18,312 Non-current liabilities Provision for retirement benefits 1,111 1,154 Total non-current liabilities 1,111 1,154 Total liabilities 15,758 19,466 Net assets Shareholders' equity Capital stock 17,363 17,363 Capital surplus Legal capital surplus 5,220 5,220 Total capital surplus 5,220 5,220 Retained earnings Other retained earnings Retained earnings brought forward 25,836 29,948 Total retained earnings 25,836 29,948 Treasury shares (68) (502) Total shareholders' equity 48,351 52,028 Valuation and translation adjustments Other valuation difference on available- 1,002 151 for-sale securities Deferred gains or losses on hedges (88) 258 Total valuation and translation 913 410 adjustments Total net assets 49,265 52,438 Total liabilities and net assets 65,023 71,905
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(2) Statement of income (Unit: million yen) 56th Year 57th Year (From April 1, 2014 (From April 1, 2015 to March 31, 2015) to March 31, 2016) Operating revenue Investment trust management fee 63,990 66,339 Other operating revenue 3,729 4,382 Total operating revenue 67,719 70,722 Operating expenses Commission fee 30,408 30,529 Advertising expenses 1,045 1,098 Publication expenses 5 3 Research expenses 15,571 17,470 Research expenses 747 821 Research expenses - 14,782 16,600 consignment Book expenses 41 48 Calculation expenses - 502 505 consignment Operating miscellaneous expenses 660 718 Communication expenses 199 195 Print expenses 263 321 Association fee 64 65 Membership fee 27 22 Other 106 113 Total operating expenses 48,193 50,327 General and administrative
expenses Salaries 7,585 8,138 Directors' compensations 289 365 Provision for directors’ bonuses 120 145 Salaries and allowances 5,127 5,495 Bonuses 59 51 Provision for bonuses 1,990 2,080 Entertainment expenses 163 185 Contribution 36 27 Traveling and transportation 503 503 expenses Taxes and dues 208 258 Rent expenses on real estates 785 875 Retirement benefit expenses 349 372 Retirement payments 16 113 Depreciation of non-current assets 148 196 Fringe-benefit expenses 908 952 Sundry expenses 2,673 2,952 Total general and administrative 13,380 14,577 expenses Operating income 6,146 5,817
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(Unit: million yen) 56th Year 57th Year (From April 1, 2014 (From April 1, 2015 to March 31, 2015) to March 31, 2016) Non-operating income Interest income 10 91 Dividend income *1 1,152 *1 1,330 Gain on redemption of investment 13 － securities Dividends and redemption - 1 1 prescription Foreign exchange gains － 32 Other 107 32 Total non-operating income 1,285 1,488 Non-operating expenses Interest expenses 28 242 Loss on redemption of securities 81 － Derivatives expenses 269 69 Dividends and redemption paid - 295 5 prescription Withholding income taxes paid 71 119 Foreign exchange losses 26 － Other 21 94 Total non-operating expenses 795 531 Ordinary income 6,636 6,774 Extraordinary income Gain on sales of investment 270 720 securities Other － 0 Total extraordinary income 270 720 Extraordinary losses Loss on sales of investment 22 100 securities Loss on disposal of non-current 0 6 assets Extraordinary bonuses － 204 Extra retirement payments 243 91 Officers’ retirement lump-sum － 64 benefit Foreign tax related expenses *2 1,650 － Total extraordinary losses 1,916 467 Net income before income taxes 4,991 7,027 Corporate income taxes – inhabitant tax and business tax - 2,356 1,359 current Corporate income taxes - deferred (466) 706 Total corporate income taxes 1,890 2,065 Net income 3,101 4,962
.
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(3) Statement of changes in equity 56th Year (from April 1, 2014 to March 31, 2015) (Unit: million yen) Shareholders' equity Capital surplus Retained earnings Other retained Total Capital earnings Treasury Legal Total Total shareholders' stock shares capital capital Retained retained equity surplus surplus earnings earnings
brought forward Opening balance 17,363 5,220 5,220 22,694 22,694 (68) 45,209 Acclumlative balance due to accounting 41 41 41 policy change Opening balance including the 3,101 3,101 3,101 accumulated balance Changes of items during
period Net income 3,101 3,101 3,101 Net changes of items other than shareholders' equity Total changes of items ― ― ― 3,101 3,101 3,101 during period Closing balance 17,363 5,220 5,220 25,836 25,836 (68) 48,351
Valuation and translation adjustments
Other valuation Total Deferred Total net difference valuation gains or assets on and losses on available- translation hedges for-sale adjustments securities Opening balance 321 - 321 45,531 Acclumlative balance due to accounting policy - 41 change Opening balance including the 321 321 45,572 accumulated balance Changes of items during
period Net income 3,101 Net changes of items other than 680 (88) 591 591 shareholders' equity Total changes of items 680 (88) 591 3,692 during period Closing balance 1,002 (88) 913 49,265
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57th Year (from April 1, 2015 to March 31, 2016) (Unit: million yen) Shareholders' equity Capital surplus Retained earnings Other retained Total Capital earnings Treasury Legal Total Total shareholders' stock shares capital capital Retained retained equity surplus surplus earnings earnings
brought forward Opening balance 17,363 5,220 5,220 25,836 25,836 (68) 48,351 Accumulated balance due to accounting － policy change Opening balance including the 17,363 5,220 5,220 25,836 25,836 (68) 48,351 accumulated balance Changes of items during
period Dividends of surplus (850) (850) (850) Net income 4,962 4,962 4,962 Acquisition of treasury (434) (434) stock Net changes of items other than shareholders' equity Total changes of items － － － 4,111 4,111 (434) 3,676 during period Closing balance 17,363 5,220 5,220 29,948 29,948 (502) 52,028
Valuation and
translation adjustments Other valuation Total Deferred Total net difference valuation gains or assets on and losses on available- translation hedges for-sale adjustments securities Opening balance 1,002 (88) 913 49,265 Accumulated balance due to accounting policy － change Opening balance including the 1,002 (88) 913 49,265 accumulated balance Changes of items during
period Dividends of surplus (850) Net income 4,962 Acquisition of treasury (434) stock Net changes of items other than (851) 347 (503) (503) shareholders' equity Total changes of items (851) 347 (503) 3,173 during period Closing balance 151 258 410 52,438
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Notes (Important accounting policies)
57th Year Item (From April 1, 2015 to March 31, 2016)
1. Asset valuation (1) Securities standards and methods (i)Subsidiary stock and affiliated company stock Recorded at cost using the periodic average method. (ii)Other available-for-sale securities Available-for-sale securities with market price Market price method based on market prices, etc., at the end of a fiscal year (Valuation differences will be handled using the method of entering the entire amount directly in net assets, and the cost of sale will be calculated using the periodic average method.) Available-for-sale securities without market price Recorded at cost using the periodic average method. (2) Money in trust Market price method (3) Derivatives Market price method 2. Depreciation method (1) Non-current assets for non-current assets Depreciated using the declining method. Major depreciable lives are as follows: Buildings 3 to 15 years Furniture and fixtures 5 to 20 years
(2) Intangible assets Amortized using the straight line method. However, software (used for the Company) is amortized using the straight line method based on the Company’s usable period (five years). 3. Standards for recording (1) Provision for bonuses provisions An amount to be borne in the fiscal year under review is recorded based on an expected amount of payment to be appropriated for bonuses to be paid to employees. (2) Provision for directors’ bonuses An amount to be borne in the fiscal year under review is recorded based on an expected amount of payment to be appropriated for bonuses to be paid to officers. (3) Provision for retirement benefits Provision for retirement benefits is recorded based on retirement benefit liability and an expected amount of pension assets as of the end of the fiscal year under review in preparation for employees’ retirement benefits. (i)Period attribution of expected retirement benefits When calculating retirement benefit obligations, an expected amount of retirement benefits is attributed to the period until the end of the fiscal year under review based on the fixed amount per period standard. (ii)Recording of actuarial differences An amount of actuarial differences, which is obtained by dividing by a fixed number of years (10 years) within the average remaining years of service of employees as of the year of the accrual of actuarial differences, is recorded as a cost beginning the year following the above year.
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4. Hedge accounting method (1) Hedge accounting method Deferred hedge accounting. (2) Hedge means and hedged assets Hedging is done by foreign exchange forwards and investment securities are hedged. (3) Hedge policy Foreign exchange fluctuation risk associated with hedged assets is hedged based on the Hedge Transaction Policy, etc. (4) Effectiveness evaluation method Effectiveness is evaluated by comparing the cumulative profits or losses of the hedging means with those of the hedged assets due to market fluctuations in the period from the start of hedging to the time at which effectiveness is determined. 5. Other basic important Accounting treatment of consumption tax, etc. matters for preparation The accounting treatment of consumption tax and local consumption tax is of financial statements based on the tax exclusion method, and consumption tax, etc., which is not tax-deductible, is recorded as a cost for the fiscal year under review.
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(Change of Acounting Policy)
57th Year (From April 1, 2015 to March 31, 2016) (Application of Accounting Standard for Business Combinations and Accounting Standard for Business Divestitures) The Accounting Standard for Business Combinations (ASBJ Statement No. 21, September 13, 2013; hereinafter the “Business Combinations Accounting Standard”) and the Accounting Standard for Business Divestitures (ASBJ Statement No. 7, September 13, 2013; hereinafter the “Business Divestitures Accounting Standard”) are applied from the fiscal year under review. Accordingly, the presentation method was changed to record acquisition costs as expenses for the fiscal year in which they occurred. In addition, regarding business combinations implemented on or after April 1, 2015, the presentation method was changed to reflect adjustments to the amount allocated to acquisition cost under provisional accounting treatment on the financial statements of the fiscal year in which the relevant business combinations become effective. Application of the Business Combinations Accounting Standard and Business Divestitures Accounting Standard follows the transitional handling stipulated in Article 58-2 (4) of the Business Combinations Accounting Standard and Article 57-4 (4) of the Business Divestitures Accounting Standard, and is effective from April 1, 2015 onward. This change has no impact on the financial statements and information per share.
(Accounting Standards yet to be Applied)
・ Implementation Guidance on Recoverability of Deferred Tax Assets (Accounting Standards Implementation Guidance No. 26, March 28, 2016)
(1) Summary Regarding treatment of the recoverability of deferred tax assets, we have strictly adhered to the framework of Audit Committee Report No. 66, Auditing Treatment on Determining the Recoverability of Deferered Tax Assets, under which firms are divided into five categories and recorded amounts are estimated in accordance with the said categories, and will undertake the necessary reviews regarding the following treatments. (i) Treatment of firms that do not meet any of the criteria to be classified in categories 1 to 5 (ii) Criteria to be classified in categories 2 and 3 (iii) Treatment regarding deductible temporary differences that cannot be scheduled at firms classified in category 2 (iv) Treatment regarding reasonable estimation period for taxable income before deduction or addition of future temporary differences, etc. at firms classified in category 3. (v) Treatment when firms that meet the criteria to be classified in category 4 are classified in category 2 or category 3.
(2) Scheduled application date Scheduled for application from the start of the fiscal year ending March 31, 2017.
(3) Impact of application The impact of application is being assessed as of the creation of these financial statements.
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(Balance sheet related) (Unit: Million yen) 56th Year 57th Year (March 31, 2015) (March 31, 2016) *1 Accumulated depreciation of property, plant and *1 Accumulated depreciation of property, plant and equipment equipment Buildings 1,122 Buildings 1,170 Furniture and fixtures 679 Furniture and fixtures 653
*2 Trust assets *2 Trust assets 30 million yen worth of other current assets are 30 million yen worth of other current assets are entrusted to Nomura Trust and Banking Co., Ltd. entrusted to Nomura Trust and Banking Co., Ltd. based on a “trusts contract for the separate based on a “trusts contract for the separate management of money and securities for direct management of money and securities for direct sales”. sales”. *3 Assets and liabilities held relating to affiliated *3 Assets and liabilities held relating to affiliated companies are as follows: companies are as follows: (Current assets) (Current assets) Cash and deposits 4,256 Cash and deposits 4,072 Prepaid expenses 2 Money in trust 153 Accrued income 110 Prepaid expenses 2 (Current liabilities) Accrued income 147 Unpaid commission 108 Other 193 Accrued expenses 500 (Current liabilities) Other expenses 57 Unpaid commission 93
Accrued expenses 722 Other expenses 266
*4 Handling of consumption tax, etc. *4 Handling of consumption tax, etc. Tentatively paid consumption tax, etc., and Tentatively paid consumption tax, etc., and tentatively received consumption tax, etc., are tentatively received consumption tax, etc., are balanced out and indicated as “accrued balanced out and indicated as “accrued consumption taxes.” consumption taxes.” *5 Guarantee obligations *5 Guarantee obligations The Company guarantees 27 million yen in debts The Company guarantees 728 million yen in such as the office lease fee that Nikko Asset debts such as the office lease fee that Nikko Asset Management Europe Ltd. will pay London Wall Management Europe Ltd. will pay London Wall Limited Partnership. The Company also Limited Partnership. The Company also guarantees 842 million yen in debts such as the guarantees 689 million yen in debts such as the office lease fee that Nikko Asset Management office lease fee that Nikko Asset Management Americas, Inc. will pay Madison Tower Associates Americas, Inc. will pay Madison Tower Associates Limited Partnership. Limited Partnership.
(Income statement related) (Unit: Million yen) 56th Year 57th Year (From April 1, 2014 to March 31, 2015) (From April 1, 2015 to March 31, 2016)
*1 What is included in each account relating to *1 What is included in each account relating to affiliated companies is shown below. affiliated companies is shown below. Dividend income 719 Dividend income 1,193 *2 Foreign tax related expense, 16.5 million yen is Interest paid 123 reasonably computed 10% of China A shares Derivative expenses 889
transfer income which was gained through QFII (Qualified Foreign Institutional Investors) account from November 17, 2009 to November 16, 137
2014 based on “Letter Vol.79” issued on October 31, 2014 by Chinese tax authority. Funds that NAM invests in Chinese A shares are “Chinese A Share Mother Fund” and “CSI300 Index Mother Fund” and NAM shoulders the expense since it is realistically impossible to call for sharing its cost to beneficiaries in the past. (Statement of changes in net assets related)
56th Year (from April 1, 2014 to March 31, 2015) 1. Type and total number of outstanding shares Beginning of the Increase during the Decrease during End of the fiscal Type of share fiscal year under fiscal year under the fiscal year year under review review review under review Common share 197,012,500 ― ― 197,012,500 (shares)
2. Type and total number of treasury stock Beginning of the Increase during the Decrease during End of the fiscal Type of share fiscal year under fiscal year under the fiscal year year under review review review under review Common share 109,600 ― ― 109,600 (shares)
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3. Subscription rights to shares Number of shares as the object of subscription Balance Type of rights to shares (shares) as of the shares as end of the Beginning Increase Decrease Details of subscription the object of End of the fiscal year of the during the during the rights to shares subscription fiscal year under fiscal year fiscal year fiscal year rights to under review under under under shares review (million review review review yen) Common Stock option (1) for 2009 15,902,700 ― - 15,902,700 ― share Common Stock option (2) for 2009 1,567,500 ― - 1,567,500 ― share Common Stock option (1) for 2010 2,310,000 ― ― 2,310,000 ― share First subscription rights to Common 2,955,200 ― 2,955,200 ― shares share Common Stock option (1) for 2011 5,388,900 ― 359,700 5,029,200 ― share Total 28,124,300 ― 3,314,900 24,809,400 ―
(Notes) 1. Decreases in stock option (1) for 20011 is due to the invalidation of subscription rights to shares. 2. The number of shares as the object of the first subscription rights to shares is calculated by multiplying 0.25% of the number of outstanding shares of the Company on the day when the notice of exercise of subscription rights to shares was submitted to the Company by 6, and is calculated based on the number of outstanding shares as of the end of the fiscal year under review. 3. The first day of the period of the exercise of rights has occurred for 15,902,700 shares as stock option (1) for 2009, 1,567,500 shares as stock option (2) for 2009, 2,310,000 shares as stock option (1) for 2010, 2,955,200 first subscription rights to shares and 2,887,500 shares as stock option (1) for 2011, but the subscription rights to shares may not be exercised because other conditions are not satisfied.
4. Matters regarding dividends
(1) Amount of dividend payment None
(2) Dividends for which the record date is during the fiscal year under review but the effective date falls in the year following the fiscal year under review Total Dividend Type of Dividend dividend Resolution per share Record date Effective date shares Resource amount (yen) (million yen) Meeting of the Board of Common Accumulated 850 4.32 March 31, 2015 June 30, 2015 Directors held on share income May 25, 2015
57th Year (from April 1, 2015 to March 31, 2016) 1. Type and total number of outstanding shares Beginning of the Increase during the Decrease during End of the fiscal Type of share fiscal year under fiscal year under the fiscal year year under review review review under review Common share 197,012,500 ― ― 197,012,500 (shares) 139
2. Type and total number of treasury stock Beginning of the Increase during the Decrease during End of the fiscal Type of share fiscal year under fiscal year under the fiscal year year under review review review under review Common share 109,600 704,500 ― 814,100 (shares)
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3. Subscription rights to shares Number of shares as the object of subscription rights to shares (shares) Balance as of Type of Increase the end Details of shares as during of the s ubscription the object of Beginning of the the Decrease during the End of the fiscal rights to subscription fiscal year under fiscal fiscal year under fiscal year year shares rights to review year review under review under shares under review review (million yen) Stock option Common 15,902,700 - 14,140,500 1,762,200 - (1) for 2009 share Stock option Common 1,567,500 1,392,600 174,900 - (2) for 2009 share - Stock option Common 2,310,000 2,310,000 - - (1) for 2010 share - Stock option Common 5,029,200 290,400 4,738,800 - (1) for 2011 share - Total 24,809,400 - 18,133,500 6,675,900 -
(Note) 1 Decreases in stock options for the fiscal year under review are due to the invalidation of subscription rights to shares. 2 The first day of the fiscal year of the exercise of rights has occurred for 1,762,20 shares as stock option (1) for 2009, 174,900 shares as stock option (2) for 2009, 4,738,800 shares as stock option (1) for 2011, but the subscription rights to shares may not be exercised because other conditions are not satisfied.
4. Matters regarding dividends
(1) Amount of dividend payment
Total dividend Type of Dividend per Resolution amount Record date Effective date shares share (yen) (million yen) Meeting of the Board of Common 850 4.32 March 31, 2015 June 30, 2015 Directors held on share May 25, 2015
(2) Dividends for which the record date is during the fiscal year under review but the effective date falls in the year following the fiscal year under review Total Dividend Type of Dividend dividend Resolution per share Record date Effective date shares Resource amount (yen) (million yen) Meeting of the Board of Common Accumulated 1,495 7.62 March 31, 2016 June 22, 2016 Directors held on share income May 30, 2016
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(Lease transaction related) (Unit: Million yen) 56th Year 57th Year (From April 1, 2014 to March 31, 2015) (From April 1, 2015 to March 31, 2016)
Operating lease transactions Operating lease transactions Unearned lease fees relating to impossible Unearned lease fees relating to impossible cancellation cancellation One year or less 841 One year or less 865 Longer than one year 3,420 Longer than one year 2,653 Total 4,261 Total 3,518
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(Financial instruments related) 56th Year (from April 1, 2014 to March 31, 2015) 1. Status of Financial Instruments (1) Policy on handling of financial instruments The Company engages in the business of managing investment trusts, and holds said investment trusts as investment securities with the aim of maintaining their product characteristics as investment trusts managed by the Company itself. The Company enters into derivative transactions with the aim of mitigating the risk of future foreign exchange rate and price fluctuations in regard to the investment trusts it holds. The Company therefore limits the scope of derivative transactions to within the range of its holdings of investment securities, and refrains from entering into such transactions for speculative purposes. The Company limits its fund investments to short-term deposits, etc.
(2) Details of financial instruments and risk involved in financial instruments The Company makes its deposit by dividing it into deposits with more than 10 banks. However, the Company is exposed to credit risk such as the bankruptcy and default of these financial institutions. The Company also holds foreign currency denominated deposits, and is therefore exposed to foreign exchange rate fluctuation risk. With respect to accrued investment trust management fee and accrued income that belongs to trade account receivables, the Company entrusts deposited net assets, which are sources for them, to several trust banks. The trust banks manage the entrusted assets by segregating them from their own account. Therefore, even if the trust banks fell into bankruptcy or default, we consider that the trade account receivables would not be exposed to credit risk. Foreign currency denominated trade account receivables, which arose from global business development, are exposed to foreign exchange rate fluctuation risk. Investment securities reflect the investment of seed money in investment trusts established by the Company. The objects of investment for these investment trusts are stocks and public and corporate bonds, etc., and therefore these investment trusts are exposed to price fluctuation risk, credit risk, liquidity risk and foreign exchange rate fluctuation risk. The Company hedges against these risks for some of them by entering into derivative transactions such as foreign exchange forwards and futures trading. The Company uses hedge accounting (deferred hedge) to hedge against foreign exchange rate fluctuation risk. Counterparties in derivative transactions are limited to financial institutions with high credit ratings. For details on matters such as hedge means and hedge assets, hedge policy, and effectiveness evaluation method, refer to “4. Hedge Accounting Method” on an earlier page. The payment date of all accounts payable (unpaid commission) and accrued expenses, which are trade account payables, is within one year. With respect to accounts payable (unpaid commission), the debt concerned will be paid to sales companies after the collection of funds for accounts receivable (accrued investment trust management fee) under the flow. We therefore consider that the accounts payable (unpaid commission) will not be exposed to liquidity risk. The same flow as that for accounts payable is applied to almost all of the accrued expenses relating to the payment of advisory fees to the re-outsourced investment party. We therefore consider that the accrued expenses will not be exposed to liquidity risk. Other operating expenses and accrued expenses relating to general and administrative expenses are exposed to liquidity risk, and some of them are foreign currency denominated liabilities and are therefore exposed to foreign exchange rate fluctuation risk.
(3) Risk management system for financial instruments (i) Credit risk management (risk relating to client’s default) The Company decides on the selection of financial institutions in which deposits are made after considering their financial conditions and business results or ratings, etc., if necessary, with the exception of financial institutions with which short-term transactions are anticipated. With
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respect to financial institutions with which transactions have been carried out, the Company reduced risk through the early identification of their credit risk due to deterioration in their financial conditions through continued periodical monitoring. (ii) Market risk management (foreign exchange rate or price fluctuation risk) In principle, the Company does not carry out hedge transactions to cover the foreign exchange rate or price fluctuation risk. With respect to foreign currency denominated trade accounts receivable, we measure the foreign exchange rate fluctuation risk on a monthly basis, and undertake monitoring. We calculate the market value of each of the investment securities at the end of every month and understand valuation gains and losses. We also manage market risk on a weekly basis using value at risk to understand the estimated amount of losses sustained by financial instruments with a specified probability for a certain period of time in the future. If, as a result of these, it is judged that the impact on the financial conditions and business results of the Company is significant, it is possible to carry out hedge transactions with the aim of avoiding them in accordance with hedge transaction regulations. (iii) Liquidity risk management (risk of non-payment on the date of payment) The Company manages and controls the fund balance on a daily basis. The Company manages liquidity risk by preparing and updating a table of expected cash flow in a timely manner and revising and maintaining liquidity on hand (minimum necessary working capital) according to the situation.
144
2. Matters regarding the market value of financial instruments Amounts recorded on the balance sheet as of March 31, 2015 (the closing date of the fiscal year under review), market values and the differences between them are as shown below. Those for which it is extremely difficult to obtain a market value are not included in the following table.
(Unit: Million yen) Amount recorded on balance sheet Market value (*) Difference (*) (1) Cash and deposits 14,206 14,206 ― (2) Accrued investment trust 8,441 8,441 ― management fee (3) Accrued income 1,566 1,566 ― (4) Securities and investment securities Available-for-sale securities 14,431 14,431 ― (5) Accounts receivable - other (5,545) (5,545) ― (6) Accrued expenses (4,636) (4,636) ― (7) Derivative trading Non-hedged accounting (25) (25) - Hedged accounting (57) (57) - Drivative trading total (82) (82) -
(*) Those recorded as liabilities are shown in parentheses.
(Notes) 1. Method for calculation of the market value of financial instruments and matters regarding securities (1) Cash and deposits, (2) Accrued investment trust management fee, and (3) Accrued income These will be settled within a short period of time, and their market value is almost equal to their book value. Their market value is therefore based on their book value. (4) Securities and investment securities The market value of investment trusts is based on the net asset value per unit. (5) Accounts receivable - other and (6) Accrued expenses These will be settled within a short period of time, and their market value is almost equal to their book value. Their market value is therefore based on their book value. 2. Non-listed stocks, etc., (amount recorded on balance sheet: 30 million yen), which have no market price and whose future cash flows are not possible to estimate, and for which it is extremely difficult to obtain a market value, are not included in (4) available-for- sale securities of investment securities. 3. Subsidiary’s stocks (amount recorded on balance sheet: 18,809 million yen) and affiliated company’s stocks (amount recorded on balance sheet: 2,892 million yen), which have no market price and whose future cash flows are not possible to estimate, and for which it is extremely difficult to obtain a market value, are not included in the table above.
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4. Expected amount of redemption of monetary receivables and securities with maturity after the closing date. (Unit: Million yen) More than one More than five Within one year and years and More than year within five within 10 10 years years years Cash and deposits 14,206 ― ― ― Accrued investment 8,441 ― ― ― trust management fee Accrued income 1,566 ― ― ― Securities and investment securities Investment trust 277 1,219 3,205 1,232 Total 24,492 1,219 3,205 1,232
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57th Year (from April 1, 2015 to March 31, 2016) 1. Status of Financial Instruments (1) Policy on handling of financial instruments The Company engages in the business of managing investment trusts, and holds said investment trusts as investment securities with the aim of maintaining their product characteristics as investment trusts managed by the Company itself. The Company enters into derivative transactions with the aim of mitigating the risk of future foreign exchange rate and price fluctuations in regard to the investment trusts it holds. The Company therefore limits the scope of derivative transactions to within the range of its holdings of investment securities, and refrains from entering into such transactions for speculative purposes. The Company also limits its fund investments to short-term deposits, etc.
(2) Details of financial instruments and risk involved in financial instruments The Company makes its deposit by dividing it into deposits with more than 10 banks. However, the Company is exposed to credit risk such as the bankruptcy and default of these financial institutions. The Company also holds foreign currency denominated deposits, and is therefore exposed to foreign exchange rate fluctuation risk. With respect to accrued investment trust management fee and accrued income that belongs to trade account receivables, the Company entrusts deposited net assets, which are sources for them, to several trust banks. The trust banks manage the entrusted assets by segregating them from their own account. Therefore, even if the trust banks fell into bankruptcy or default, we consider that the trade account receivables would not be exposed to credit risk. Foreign currency denominated trade account receivables, which arose from global business development, are exposed to foreign exchange rate fluctuation risk. Investment securities reflect the investment of seed money in investment trusts established by the Company. The objects of investment for these investment trusts are stocks and public and corporate bonds, etc., and therefore these investment trusts are exposed to price fluctuation risk, credit risk, liquidity risk and foreign exchange rate fluctuation risk. The Company hedges against these risks for some of them by entering into derivative transactions such as foreign exchange forwards and futures trading. The Company uses hedge accounting (deferred hedge) to hedge against foreign exchange rate fluctuation risk. Counterparties in derivative transactions are limited to financial institutions with high credit ratings. For details on matters such as hedge means and hedge assets, hedge policy, and effectiveness evaluation method, refer to “4. Hedge Accounting Method” on an earlier page. The payment date of all accounts payable (unpaid commission) and accrued expenses, which are trade account payables, is within one year. With respect to accounts payable (unpaid commission), the debt concerned will be paid to sales companies after the collection of funds for accounts receivable (accrued investment trust management fee) under the flow. We therefore consider that the accounts payable (unpaid commission) will not be exposed to liquidity risk. The same flow as that for accounts payable is applied to almost all of the accrued expenses relating to the payment of advisory fees to the re-outsourced investment party. We therefore consider that the accrued expenses will not be exposed to liquidity risk. Other operating expenses and accrued expenses relating to general and administrative expenses are exposed to liquidity risk, and some of them are foreign currency denominated liabilities and are therefore exposed to foreign exchange rate fluctuation risk. Short-term loans payable to subsidiaries and affiliated companies denominated in foreign currencies are exposed to foreign exchange rate fluctuation risk, which is hedged with foreign exchange forwards.
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(3) Risk management system for financial instruments (i) Credit risk management (risk relating to client’s default) The Company decides on the selection of financial institutions in which deposits are made after considering their financial conditions and business results or ratings, etc., if necessary, with the exception of financial institutions with which short-term transactions are anticipated. With respect to financial institutions with which transactions have been carried out, the Company reduced risk through the early identification of their credit risk due to deterioration in their financial conditions through continued periodical monitoring. (ii) Market risk management (foreign exchange rate or price fluctuation risk) In principle, the Company does not carry out hedge transactions to cover the foreign exchange rate or price fluctuation risk. With respect to foreign currency denominated trade accounts receivable, we measure the foreign exchange rate fluctuation risk on a monthly basis, and undertake monitoring. We calculate the market value of each of the investment securities at the end of every month and understand valuation gains and losses. We also manage market risk on a weekly basis using value at risk to understand the estimated amount of losses sustained by financial instruments with a specified probability for a certain period of time in the future. In addition, we enter into derivative transactions with the aim of avoiding currency exchange fluctuation risks from short-term loans payable to subsidiaries and affiliated companies. (iii) Liquidity risk management (risk of non-payment on the date of payment) The Company manages and controls the fund balance on a daily basis. The Company manages liquidity risk by preparing and updating a table of expected cash flow in a timely manner and revising and maintaining liquidity on hand (minimum necessary working capital) according to the situation.
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2. Matters regarding the market value, etc. of financial instruments Amounts recorded on the balance sheet, market values and differences between them as of March 31, 2016 (the closing date of the fiscal year under review) are as shown below. Those for which it is acknowledged that it is extremely difficult to obtain a market value are not included in the following table.
(Unit: million yen) Amount recorded Market value on the balance Difference (*1) sheet (*1) (1) Cash and deposits 14,308 14,308 － (2) Accrued investment trust management － fee 9,374 9,374 (3) Accrued income 2,280 2,280 － (4) Short-term loans receivable from 5,333 5,333 subsidiaries and affiliated companies (5) Investment securities Available-for-sale securities 12,265 12,265 － (6) Accounts payable (3,841) (3,841) － (7) Unpaid expenses (4,920) (4,920) － (8) Short-term loans payable to subsidiaries (5,631) (5,631) and affiliated companies (9) Derivative trading (*2) Non-hedged accounting (254) (254) － Hedged accounting 170 170 － Derivative trading total (84) (84) － (*1) Those recorded as liabilities are shown in parentheses. (*2) Net receivables and payables occurring in derivative trading are shown as the net amounts.
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(Note) 1. Method for calculation of market value of financial instruments and matters regarding securities and derivatives transactions (1) Cash and deposits, (2) Accrued investment trust management fee, (3) Accrued income, and (4) Short-term loans receivable from subsidiaries and affiliated companies These will be settled within a short period of time, and their market value is almost equal to their book value. Their market value is therefore based on their book value. (5) Securities and investment securities The market value of investment trusts is based on the net asset value per unit. (6) Accounts payable, (7) Unpaid expenses and (8) Short-term loans payable to subsidiaries and affiliated companies These will be settled within a short period of time, and their market value is almost equal to their book value. Their market value is therefore based on their book value. (9) Derivative trading Refer to the note (Derivative trading). Items to which hedge accounting is not applied are included in Other under Current assets and Other under Current liabilities on the balance sheet. Of the items to which hedge accounting is applied, 193 million yen is included in Other under Current assets on the balance sheet and 23 million yen is included in Other under Current liabilities on the balance sheet. 2. Non-listed stocks, etc. (amount recorded on the balance sheet: 16 million yen), which have no market price, for which the future cash flows cannot be estimated reliably, and for which it is extremely difficult to obtain a market value, are not included in “5 available- for-sale securities of securities and investment securities.” 3. Subsidiary’s stocks (amount recorded on the balance sheet: 18,809 million yen) and affiliated company’s stocks (amount recorded on the balance sheet: 2,892 million yen), which have no market price, for which the future cash flows cannot be estimated reliably, and for which it is extremely difficult to obtain a market value, are not included in the above table.
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4. Expected amount of redemption of monetary receivables and securities with maturity after the closing date
(Unit: million yen) More than one More than five More than 10 Within one year year and within years and within years five years 10 years Cash and deposits 14,308 - - - Accrued investment trust - - - 9,374 management fee Accrued income 2,280 - - - Investment securities - - - - Investment trust 86 714 1,766 963 Total 26,049 714 1,766 963
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(Securities related) 56th Year (from April 1, 2014 to March 31, 2015) 1. Subsidiary’s stocks and affiliated company’s stocks (Unit: Million yen) Amount recorded on
balance sheet Subsidiary’s stocks 18,809
Affiliated company’s stocks 2,892
(Note) Subsidiary’s stocks and affiliated company’s stocks have no market price, and their future cash flows are not possible to estimate. It is therefore considered to be extremely difficult to obtain a market value, thus their market values are not stated.
2. Available-for-sale securities (Unit: Million yen) Amount recorded on Type Acquisition cost Difference balance sheet Securities with an Investment 12,839 11,293 1,546 amount recorded on trusts the balance sheet that is higher than Sub-total 12,839 11,293 1,546 the acquisition cost Securities with an Investment 1,591 1,656 (64) amount recorded on trusts the balance sheet that is not higher than the Sub-total 1,591 1,656 (64) acquisition cost Total 14,431 12,949 1,482
(Notes) 1. With respect to impairment loss booking, when the market value at the end of a fiscal year has declined 50% or more from the acquisition cost, the entire amount of the decline is recorded as an impairment loss. When the market value at the end of a fiscal year has declined 30% to 50% from the acquisition cost, an amount that is acknowledged necessary in consideration of the importance of the amount and the possibility of recovery, etc., is considered an impairment loss. There is no impairment loss recorded for the fiscal year under review. 2. Non-listed stocks, etc., (amount recorded on balance sheet: 30 million yen), which have no market price and whose future cash flows are not possible to estimate, and for which it is acknowledged that it is extremely difficult to obtain market values, are not included in the above table of available-for-sale securities.
3. Available-for-sale securities sold during the fiscal year under review (Unit: Million yen) Type Sales proceeds Total profit on sale Total loss on sale Investment trusts 3,661 270 22
Total 3,661 270 22
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57th Year (from April 1, 2015 to March 31, 2016) 1. Subsidiary’s stocks and affiliated company’s stocks (Unit: Million yen) Amount recorded on
balance sheet Subsidiary’s stocks 18,809
Affiliated company’s stocks 2,892
(Note) Subsidiary’s stocks and affiliated company’s stocks have no market price, and their future cash flows are not possible to estimate. It is therefore considered to be extremely difficult to obtain a market value, thus their market values are not stated.
2. Available-for-sale securities (Unit: Million yen) Amount recorded on Type Acquisition cost Difference balance sheet Securities with an Investment 5,593 4,872 720 amount recorded on trusts the balance sheet 5,593 4,872 720 that is higher than Sub-total the acquisition cost Securities with an Investment 6,672 7,175 (502) amount recorded on trusts the balance sheet 6,672 7,175 (502) that is not higher than the Sub-total acquisition cost Total 12,265 12,047 218
(Notes) 1. With respect to impairment loss booking, when the market value at the end of a fiscal year has declined 50% or more from the acquisition cost, the entire amount of the decline is recorded as an impairment loss. When the market value at the end of a fiscal year has declined 30% to 50% from the acquisition cost, an amount that is acknowledged necessary in consideration of the importance of the amount and the possibility of recovery, etc., is considered an impairment loss. There is no impairment loss recorded for the fiscal year under review. 2. Non-listed stocks, etc., (amount recorded on balance sheet: 16 million yen), which have no market price and whose future cash flows are not possible to estimate, and for which it is acknowledged that it is extremely difficult to obtain market values, are not included in the above table of available-for-sale securities.
3. Available-for-sale securities sold during the fiscal year under review (Unit: Million yen) Type Sales proceeds Total profit on sale Total loss on sale 30 17 － Stocks
5,442 703 100 Investment trusts
Total 5,473 720 100
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(Derivative trading)
56th Year (from April 1, 2014 to March 31, 2015)
1. Derivative trading with unheadged accounting (1) Stock
Value with the term of Valuation gain Value a year or Market Velue Type or loss (Million Yen) more (Million Yen) (Million Yen) (Million Yen)
Market Trade Futures Trading Sell 2,337 - (25) (25)
Buy - - - -
Total 2,337 - (25) (25)
Note: 1. Those trades are marked to market and its valuation gain and loss is calculated in the statement of income. 2. Calculation method It is based on settlement index by the exchange.
2. Derivative trading with headged accounting (1) Currency Value with the term Market Hedge Value of a year Value accounting Derivative trading type Hedged item (Million or more (Million method Yen) (Million Yen) Yen)
Principal Foreign exchange forwards Method Sell USD Investment 2,586 - (68) AUD Securities 276 - 8 SGD 878 - 4 EUR 219 - (1)
Total 3,961 (57) Note: 1. Calculation method It is calculated based on prices, etc. shown by financial institutions with which transactions are carried out.
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57th Year (March 31, 2016)
1. Derivative trading with unhedged accounting (1) Stock
Value with the term of Valuation gain Value a year or Market Velue Type or loss (Million Yen) more (Million Yen) (Million Yen) (Million Yen)
Market Trade Futures Trading Sell 1,093 - (11) (11) Buy - - - -
Total 1,093 - (11) (11)
Note: 1. Those trades are marked to market and its valuation gain and loss is calculated in the statement of income. 2. Calculation method It is based on settlement index by the exchange. (2) Currency
Value with the term of Valuation gain Value a year or Market Velue Type or loss (Million Yen) more (Million Yen) (Million Yen) (Million Yen)
Non-market Foreign exchange
Trade forwards Sell USD 5,631 - (243) (243)
Total 5,631 - (243) (243)
Note: 1. Calculation method. It is calculated based on prices, etc. shown by financial institutions with which transactions are carried out.
2. Derivative trading with hedged accounting (1) Currency Value with the term Market Hedge Value of a year Value accounting Derivative trading type Hedged item (Million or more (Million method Yen) (Million Yen) Yen)
Principal Foreign exchange forwards Method Sell Investment USD Securities 3,943 - 179 AUD 767 - (18)
155
SGD 75 - (4)
HKD 151 - 5 RMB 1,948 - 8 EUR 173 - 0
Total 7,060 - 170 Note: 1. Calculation method It is calculated based on prices, etc. shown by financial institutions with which transactions are carried out.
156
(Profit and loss due to equity method, etc.) 56th Year 57th Year (From April 1, 2014 to March 31, 2015) (From April 1, 2015 to March 31, 2016)
Profit and loss from investment, etc., in the case of Profit and loss from investment, etc., in the case of the application of the equity method to the affiliated the application of the equity method to the affiliated company company (Unit: Million yen) (Unit: Million yen) (1) Amount of investment in affiliated (1) Amount of investment in affiliated 3,078 3,037 companies: companies: (2) Amount of investment in the case of the (2) Amount of investment in the case of the 9,396 9,686 application of the equity method: application of the equity method: (3) Amount of profit from investment in the (3) Amount of profit from investment in the case of the application of the equity 1,720 case of the application of the equity 2,901 method: method:
157
(Retirement benefit related) 56th Year (from April 1, 2014 to March 31, 2015) 1. Outline of the adopted retirement benefit plan The Company has a defined a contribution corporate pension plan and a cash balance retirement benefit plan. 2. Defined benefit plan (1) Reconciliation of the opening balance and the closing balance of retirement benefit liability (Unit: Million yen) Openning balance of retirement benefit 1,174 Accumulative balance due to accounting policy (63) change Adjusted opening balance including accumulative 1,110 balance due to accounting policy change Service cost 126 Interest cost 7 Actuarial difference 47 Retirement benefit paid (59) Term-end balance of retirement benefit 1,233
(2) Reconciliation of the closing balance of retirement benefit liability and provision for retirement benefits recorded on the balance sheet a. Retirement benefit liability 1,233 million yen b. Unfunded retirement benefit liability 1,233 million yen c. Unrecognized actuarial calculation (121 million yen) difference Amount of liability recorded on the balance 1,111 million yen sheet
Provision for retirement benefits 1,111 million yen Amount of liability recorded on the balance 1,111 million yen sheet
(3) Retirement benefit expenses and their breakdown Service cost 126 million yen Interest cost 7 million yen Amount of actuarial calculation difference million yen 18 which is recorded as a cost Retirement benefit expenses for the defined million yen 152 benefit plan
(4) Matters regarding the basis for actuarial calculation Major basis for actuarial calculation at the end of the fiscal year under review Discount rate 0.6%
3. Defined contribution plan The amount of required contributions to the defined contribution plan of the Company was 196 million yen.
158
57th Year (from April 1, 2015 to March 31, 2016) 1. Outline of the adopted retirement benefit plan The Company has a defined a contribution corporate pension plan and a cash balance retirement benefit plan. 2. Defined benefit plan (1) Reconciliation of the opening balance and the closing balance of retirement benefit liability (Unit: Million yen) Openning balance of retirement benefit 1,233 Accumulative balance due to accounting policy - change Adjusted opening balance including accumulative 1,233 balance due to accounting policy change Service cost 145 Interest cost 7 Actuarial difference 33 Retirement benefit paid (119) Term-end balance of retirement benefit 1,299
(2) Reconciliation of the closing balance of retirement benefit liability and provision for retirement benefits recorded on the balance sheet Retirement benefit liability 1,299 million yen Unfunded retirement benefit liability 1,299 million yen Unrecognized actuarial calculation difference (144 million yen) Amount of liability recorded on the balance 1,154 million yen sheet
Provision for retirement benefits 1,154 million yen Amount of liability recorded on the balance 1,154 million yen sheet
(3) Retirement benefit expenses and their breakdown Service cost 145 million yen Interest cost 7 million yen Amount of actuarial calculation difference 9 million yen which is recorded as a cost Retirement benefit expenses for the defined 162 million yen benefit plan
(4) Matters regarding the basis for actuarial calculation Major basis for actuarial calculation at the end of the fiscal year under review Discount rate 0.2%
3. Defined contribution plan The amount of required contributions to the defined contribution plan of the Company was 209 million yen.
159
(Stock option related) 56th Year (from April 1, 2014 to March 31, 2015) 1. Details, size and state of changes of stock options (subscription rights to shares) (1) Details of stock options (subscription rights to shares) Stock option (1) for 2009 Stock option (2) for 2009 Category and Directors and employees of Directors and employees of number of eligible the Company and its 271 persons the Company and its 48 persons persons affiliated companies: affiliated companies: Number of granted 19,724,100 1,702,800 stock options by Common shares: Common shares: shares shares type of share (Note) Date of grant February 8, 2010 August 20, 2010 In principle, an eligible person is required to have the position of employee, etc., by a date following the date when one year has passed since January 22, 2012 (hereinafter referred to as “the first day of possible exercise of rights”) and by a date following the date when Conditions for two years have passed from the first day of establishment of Same as left the possible exercise of rights. Rights shall be rights established for a half, a quarter, and a quarter of holding subscription rights to shares, respectively. However, the Company is required to have offered its shares for public subscription at the time of the exercise of the subscription rights to shares. From the date of the grant up to a date when Period of service two years have passed from the first day of Same as left covered the possible exercise of rights Period of exercise From January 22, 2012 Same as left of rights to January 21, 2020
Stock option (1) for 2010 Stock option (1) for 2011 Category and Directors and employees of number of eligible Employee of the Company 1 persons the Company and its 186 persons persons affiliated companies: Number of granted 2,310,000 6,101,700 stock options by Common shares: Common shares: shares shares type of share (Note) Date of grant August 20, 2010 October 7, 2011 In principle, an eligible person is required In principle, an eligible person is required to to have the position of employee, etc., by a have the position of employee, etc., by a date date following the date when one year has following the date when one year has passed passed since October7, 2013 (hereinafter since January 22, 2012 (hereinafter referred referred to as “the first day of possible to as “the first day of possible exercise of exercise of rights”) and by a date following rights”) and by a date following the date when Conditions for the date when two years have passed from two years have passed from the first day of establishment of the first day of the possible exercise of the possible exercise of rights. Rights shall be rights rights. Rights shall be established for a established for a half, a quarter, and a half, a quarter, and a quarter of holding quarter of holding subscription rights to subscription rights to shares, respectively. shares, respectively. However, the Company is However, the Company is required to have required to have offered its shares for public offered its shares for public subscription at subscription at the time of the exercise of the the time of the exercise of the subscription subscription rights to shares. rights to shares. From the date of the grant up to a date when From the date of the grant up to a date Period of service two years have passed from the first day of when two years have passed from the first covered the possible exercise of rights day of the possible exercise of rights Period of exercise From January 22, 2012 From October 7, 2013 160
of rights to January 21, 2020 to October 6, 2021 (Note) This is stated after conversion into the number of shares.
161
(2) Size and state of changes of stock options (subscription rights to shares) (i) Number of stock options (subscription rights to shares) Stock option (1) for 2009 Stock option (2) for 2009 Date of grant February 8, 2010 August 20, 2010 Before establishment of rights
(shares) Opening 15,902,700 1,567,500 Granted 0 0 Became invalid 0 0 Rights established 0 0 Outstanding balance of rights 15,902,700 1,567,500 not established After establishment of rights
(shares) Opening ― ― Rights established ― ― Rights exercised ― ― Became invalid ― ― Outstanding balance of rights ― ― not exercised
Stock option (1) for 2010 Stock option (1) for 2011 Date of grant August 20, 2010 October 7, 2011 Before establishment of rights
(shares) Opening 2,310,000 5,388,900 Granted 0 0 Became invalid 0 359,700 Rights established 0 0 Outstanding balance of rights 2,310,000 5,029,200 not established After establishment of rights
(shares) Opening ― ― Rights established ― ― Rights exercised ― ― Became invalid ― ― Outstanding balance of rights ― ― not exercised (Note) This is stated after conversion into the number of shares.
162
(ii) Unit price information Stock option (1) for 2009 Stock option (2) for 2009 Date of grant February 8, 2010 August 20, 2010 Exercise price (yen) 625 625 Fair valuation unit price as of the 0 0 date of grant (yen) (Note) 1
Stock option (1) for 2010 Stock option (1) for 2011 Date of grant August 20, 2010 October 7, 2011 Exercise price (yen) 625 737 (Note) 3 Fair valuation unit price as of the 0 0 date of grant (yen) (Note) 1
(Notes) 1. This is based on the estimate of an intrinsic value (difference between an amount valued using the transaction cases comparison method and an exercise price) instead of the fair valuation unit price. 2. Total of intrinsic values in the case of calculation based on an intrinsic value per unit of stock options Total of intrinsic values as of the end of the fiscal year under review: ―million yen 3. If the initial public offering price is set at a price higher than 737 yen (if a stock split or reverse stock split is conducted after the date of allocation, the above price should be adjusted to properly reflect the details of the stock split or reverse stock split), the exercise price will be adjusted to an amount that is the same as the initial public offering price on the date of the initial public offering.
163
57th Year (from April 1, 2015 to March 31, 2016) 1. Details, size and state of changes of stock options (subscription rights to shares) (1) Details of stock options (subscription rights to shares) Stock option (1) for 2009 Stock option (2) for 2009 Category and Directors and employees of Directors and employees of number of eligible the Company and its 271 persons the Company and its 48 persons persons affiliated companies: affiliated companies: Number of granted 19,724,100 1,702,800 stock options by Common shares: Common shares: shares shares type of share (Note) Date of grant February 8, 2010 August 20, 2010 In principle, an eligible person is required to have the position of employee, etc., by a date following the date when one year has passed since January 22, 2012 (hereinafter referred to as “the first day of possible exercise of rights”) and by a date following the date when Conditions for two years have passed from the first day of establishment of Same as left the possible exercise of rights. Rights shall be rights established for a half, a quarter, and a quarter of holding subscription rights to shares, respectively. However, the Company is required to have offered its shares for public subscription at the time of the exercise of the subscription rights to shares. From the date of the grant up to a date when Period of service two years have passed from the first day of Same as left covered the possible exercise of rights Period of exercise From January 22, 2012 Same as left of rights to January 21, 2020
Stock option (1) for 2010 Stock option (1) for 2011 Category and Directors and employees of number of eligible Employee of the Company 1 persons the Company and its 186 persons persons affiliated companies: Number of granted 2,310,000 6,101,700 stock options by Common shares: Common shares: shares shares type of share (Note) Date of grant August 20, 2010 October 7, 2011 In principle, an eligible person is required In principle, an eligible person is required to to have the position of employee, etc., by a have the position of employee, etc., by a date date following the date when one year has following the date when one year has passed passed since October7, 2013 (hereinafter since January 22, 2012 (hereinafter referred referred to as “the first day of possible to as “the first day of possible exercise of exercise of rights”) and by a date following rights”) and by a date following the date when Conditions for the date when two years have passed from two years have passed from the first day of establishment of the first day of the possible exercise of the possible exercise of rights. Rights shall be rights rights. Rights shall be established for a established for a half, a quarter, and a half, a quarter, and a quarter of holding quarter of holding subscription rights to subscription rights to shares, respectively. shares, respectively. However, the Company is However, the Company is required to have required to have offered its shares for public offered its shares for public subscription at subscription at the time of the exercise of the the time of the exercise of the subscription subscription rights to shares. rights to shares. From the date of the grant up to a date when From the date of the grant up to a date Period of service two years have passed from the first day of when two years have passed from the first covered the possible exercise of rights day of the possible exercise of rights Period of exercise From January 22, 2012 From October 7, 2013 of rights to January 21, 2020 to October 6, 2021 (Note) This is stated after conversion into the number of shares. 164
(2) Size and state of changes of stock options (subscription rights to shares) (i) Number of stock options (subscription rights to shares) Stock option (1) for 2009 Stock option (2) for 2009 Date of grant February 8, 2010 August 20, 2010 Before establishment of rights
(shares) Opening 15,902,700 1,567,500 Granted 0 0 Became invalid 14,140,500 1,392,600 Rights established 0 0 Outstanding balance of rights 1,762,200 174,900 not established After establishment of rights
(shares) Opening ― ― Rights established ― ― Rights exercised ― ― Became invalid ― ― Outstanding balance of rights ― ― not exercised
Stock option (1) for 2010 Stock option (1) for 2011 Date of grant August 20, 2010 October 7, 2011 Before establishment of rights
(shares) Opening 2,310,000 5,029,200 Granted 0 0 Became invalid 2,310,000 290,400 Rights established 0 0 Outstanding balance of rights 0 4,738,800 not established After establishment of rights
(shares) Opening ― ― Rights established ― ― Rights exercised ― ― Became invalid ― ― Outstanding balance of rights ― ― not exercised (Note) This is stated after conversion into the number of shares.
165
(ii) Unit price information Stock option (1) for 2009 Stock option (2) for 2009 Date of grant February 8, 2010 August 20, 2010 Exercise price (yen) 625 625 Fair valuation unit price as of the 0 0 date of grant (yen) (Note) 1
Stock option (1) for 2010 Stock option (1) for 2011 Date of grant August 20, 2010 October 7, 2011 Exercise price (yen) 625 737 (Note) 3 Fair valuation unit price as of the 0 0 date of grant (yen) (Note) 1
(Notes) 1. This is based on the estimate of an intrinsic value (difference between an amount valued using the transaction cases comparison method and an exercise price) instead of the fair valuation unit price. 2. Total of intrinsic values in the case of calculation based on an intrinsic value per unit of stock options Total of intrinsic values as of the end of the fiscal year under review: ―million yen 3. If the initial public offering price is set at a price higher than 737 yen (if a stock split or reverse stock split is conducted after the date of allocation, the above price should be adjusted to properly reflect the details of the stock split or reverse stock split), the exercise price will be adjusted to an amount that is the same as the initial public offering price on the date of the initial public offering.
166
(Tax effect accounting related)
56th Year 57th Year (March 31, 2015) (March 31, 2016) Breakdown of deferred tax assets and deferred tax 1. Breakdown of deferred tax assets and deferred liabilities by cause tax liabilities by cause (Unit: million yen) (Unit: million yen) Deferred tax assets (current Deferred tax assets (current
assets) assets) Excess of provision for bonuses 658 Excess of provision for bonuses 642 Others 813 Others 177 Sub-total 1,472 Sub-total 819
Deferred tax assets (non-current Deferred tax assets (non-current
assets) assets) Loss on valuation of investment Loss on valuation of investment 134 96 securities securities Loss on valuation of stocks of Loss on valuation of stocks of 1,510 1,430 affiliated companies affiliated companies Excess of provision for Excess of provision for 360 353 retirement benefits retirement benefits Excess of noncurrent asset Excess of noncurrent asset 133 122 depreciation depreciation Others 73 Others 65 Subtotal 2,213 Subtotal 2,068 Subtotal deferred tax assets 3,685 Subtotal deferred tax assets 2,888 Valuation reserve (1,510) Valuation reserve (1,430) Total deferred tax assets 2,174 Total deferred tax assets 1,457
Deferred tax liabilities Deferred tax liabilities
(current liabilities) (non-current liabilities) Valuation difference on Valuation difference on 25 71 available-for-sale securities available-for-sale securities Total 25 Deferred gains on hedges 114 Others 26 Deferred tax liabilities Total 213 (non-current liabilities) Total deferred tax liabilities 213 Valuation difference on 454 available-for-sale securities Net amount of deferred tax assets 1,244 Total 454 Total deferred tax liabilities 480 Net amount of deferred tax assets 1,694
2. When there is a major difference between a 2 When there is a major difference between a statutory effective tax rate and the rate of statutory effective tax rate and the rate of corporation tax, etc., after the application of tax corporation tax, etc., after the application of tax effect accounting, breakdown by major item that effect accounting, breakdown by major item that was the reason for the difference was the reason for the difference
Statutory effective tax rate 35.6% Statutory effective tax rate 33.1% (Adjustment) (Adjustment) Items such as entertainment Items such as entertainment expenses that are not permanent 1.3% expenses that are not permanent 1.4% tax-deductible expenses tax-deductible expenses Items such as received dividends Items such as received dividends that are not permanent taxable (4.3%) that are not permanent taxable (4.8%) income income Reduction of deferred tax assets Reduction of deferred tax assets as of the end of a fiscal year due to 3.6% as of the end of a fiscal year due to 1.3% tax rate revision tax rate revision 167
Amount of the effect of profits 1.7% Tax credits for salary growth (2.2%) retained by foreign subsidiary, etc. Amount of the effect of profits 0.6% Rate of corporation tax, etc., after retained by foreign subsidiary, etc. application of tax effect 37.9% Rate of corporation tax, etc., after accounting application of tax effect 29.4% accounting
56th Year 57th Year (March 31, 2015) (March 31, 2016) 2. Revision of the amount of deferred tax assets 3. Revision of the amount of deferred tax assets and deferred tax liabilities due to the change of the and deferred tax liabilities due to the change statutory effective tax rate of the statutory effective tax rate In accordance with the passing at the Japanese In accordance with the coming into effect of the Parliament of the Act for Partial Revision of the Act for Partial Revision of the Income Tax Act, Income Tax Act, etc. (Act No. 15 of 2016) and the etc. (Act No. 9 of 2015), the effective tax rate to and the “Act for Partial Revision of the Local Tax calculate deffered income asset and deferred tax Act, etc.” (Act No.13 of 2016) on March 29, 2016, liability effective on April 1, 2014 has been the effective tax rate to calculate deffered income changed to 33.1% for temporary difference that asset and deferred tax liability effective on April is expected to be cancelled in the fiscal year 1, 2016 has been changed to 30.9% for temporary beginning on April 1, 2015 and 32.3% for difference that is expected to be cancelled in the temporary difference that is expected to be fiscal year beginning on April 1, 2016, and in the cancelled in the fiscal year beginning on April 1, fiscal year beginning on April 1, 2017, and 30.6% 2016. As a result, the amount of deferred tax for temporary difference that is expected to be assets (after the deduction of deferred tax cancelled in the fiscal year beginning on April 1, liabilities) and deferred gains and losses on 2018. As a result, the amount of deferred tax hedges decreased 135 million yen and 4 million assets (after the deduction of deferred tax yen respectively, and the amounts of valuation liabilities) decreased 59 million yen, and the difference on available-for-sale securities and amounts of valuation difference on available-for- corporate income tax adjustment increased 48 sale securities, deferred gains and losses on million yen and 179 million yen, respectively. hedges and corporate income tax adjustment increased 3 million yen, 6 million yen and 69 million yen, respectively.
168
(Information on related parties) 56th Year (from April 1, 2014 to March 31, 2015) 1. Transactions with related parties (1) Transactions between the company submitting financial statements and related parties (a) Parent company of the company submitting financial statements There is no important applicable item.
(b) Subsidiary of the company submitting financial statements Ratio of Capital or ownership of invested Relationship Amount of Closing Name of voting rights, Details of Type Location amount Business with related transaction Account balance company, etc. etc., or owned transaction (thousands parties (million yen) (million yen) voting rights, of SGD) etc. (%) 184 Lending of Affiliated 436 (2,059 funds (SDG- companies’ (5,000 thousand denominated) short-term thousand Nikko Asset SGD) Management Asset Direct Lending of (Note 1) loans SGD) Subsidiary Singapore 292,000 (Note 2) International management 100.00 funds Limited Interest on 7 7 loans (SDG- (92 Accrued (82 denominated) thousand income thousand (Note 1) SGD) SGD)
(Notes) Trading conditions and a policy on a decision on trading conditions, etc. 1. Revolving loan agreement with an 11 million SGD credit line and a one year repayment period. The interest rate is determined based on the market interest rate. 2. Details of the amount of the transaction 184 million yen (2,059 thousand SGD) are loans of 424 million yen (5,000 thousand SGD) and repayment of 240 million yen (2,940 thousand SGD).
2. Notes regarding the parent company and major affiliated companies (1) Parent company information Sumitomo Mitsui Trust Holdings, Inc. (listed on the Tokyo Stock Exchange, etc.) Sumitomo Mitsui Trust Bank, Ltd. (not listed) (2) Brief financial information on major affiliated companies During the fiscal year under review, a major affiliated company is Rongtong Fund Management Co., Ltd., and its brief financial information is as shown below. The following figures were obtained by converting the figures in the financial statements for the fiscal year ended December 31, 2012 into yen based on the spot foreign exchange rate on December 31, 2013.
Total assets: 23,832 million yen Total liabilities: 6,549 million yen Total net assets: 17,283 million yen
Operating revenue: 15,406 million yen Income before income taxes: 4,977 million yen Net income: 3,441 million yen
169
57th Year (from April 1, 2015 to March 31, 2016) 1. Transactions with related parties (1) Transactions between the company submitting financial statements and related parties (a) Parent company of the company submitting financial statements There is no important applicable item.
(b) Subsidiary of the company submitting financial statements
Ratio of ownership of voting Capital or Relationship Amount of Closing Name of rights, etc., Details of Type Location invested Business with related transaction Account balance company, etc. or owned transaction amount parties (million yen) (million yen) voting rights, etc. (%) (90) Lending of Affiliated 333 ((1,000 funds (SDG- companies’ (4,000 thousand) denominated) short-term thousand SGD) (Note 1) loans SGD) (Note 2)
18 6 Interest on loans (SDG- (215 Accrued (74 denominated) thousand income thousand Nikko Asset (Note 1) 292,000 Management Asset Direct Lending of SGD) SGD) Subsidiary Singapore thousand International management 100.00 funds SGD Affiliated Limited Lending of funds (yen- companies’ denominated) 5,000 5,000 short-term (Note 3) loans Interest on loans (yen- Accrued 70 70 denominated) income (Note 3) Borrowing of 6,176 Short-term 5,631 funds (USD- (50,000 loans from (50,000 Nikko 181,542 denominated) thousand affiliated thousand Asset thousand Asset Direct Borrowing (Note 5) USD) companies USD) Subsidiary Management US USD management 100.00 of funds Interest on 113 106 Americas, (Note 4) loans (USD- (949 Accrued (949 Inc. denominated) thousand expenses thousand (Note 5) USD) USD)
(Notes) Trading conditions and a policy on a decision on trading conditions, etc. 1. Revolving loan agreement with an 11,000 thousand SGD credit line and a one year repayment period. The interest rate is determined based on the market interest rate. ２. Details of the amount of the transaction (90 million) yen ((1,000 thousand) SGD) are loans of 957 million yen ((11,000 thousand) SGD) and repayment of (1,047 million) yen ((12,000 thousand) SGD). 3. Revolving loan agreement with a 5,000 million yen credit line and a one year repayment period. The interest rate is determined based on the market interest rate. 4. The amount of capital for Nikko Asset Management Americas, Inc. is the combined total of capital and capital surplus. 5. Revolving loan agreement with a USD 50 million USD credit line and a one year repayment period. The interest rate is determined based on the market interest rate.
170
2. Notes regarding the parent company and major affiliated companies (1) Parent company information Sumitomo Mitsui Trust Holdings, Inc. (listed on the Tokyo Stock Exchange, etc.) Sumitomo Mitsui Trust Bank, Ltd. (not listed) (2) Brief financial information on major affiliated companies During the fiscal year under review, a major affiliated company is Rongtong Fund Management Co., Ltd., and its brief financial information is as shown below. The following figures were obtained by converting the figures in the financial statements for the fiscal year ended December 31, 2015 into yen based on the spot foreign exchange rate on December 31, 2015.
Total assets: 30,897 million yen Total liabilities: 9,936 million yen Total net assets: 20,960 million yen
Operating revenue: 26,843 million yen Income before income taxes: 9,553 million yen Net income: 6,411 million yen
171
(Segment information, etc.) Segment information 56th Year (from April 1, 2014 to March 31, 2015) The Company has only one segment of the asset management business, so segment information is not stated.
57th Year (from April 1, 2015 to March 31, 2016) The Company has only one segment of the asset management business, so segment information is not stated.
Related information 56th Year (from April 1, 2014 to March 31, 2015) 1. Information on each product and service The Company’s products and services are limited to one type due to its asset management business, so this information is not stated.
2. Regional information (1) Operating revenue An amount classified as operating revenue from domestic customers is more than 90% of the total operating revenue, so the statement is omitted.
(2) Property, plant and equipment There is no property, plant and equipment existing outside Japan, so there is no applicable item.
3. Information on each major customer There is no single outside customer who accounts for 10% or more of operating revenue, so this is not stated.
57th Year (from April 1, 2015 to March 31, 2016) 1. Information on each product and service The Company’s products and services are limited to one type due to its asset management business, so this information is not stated.
2. Regional information (1) Operating revenue An amount classified as operating revenue from domestic customers is more than 90% of the total operating revenue, so the statement is omitted.
(2) Property, plant and equipment There is no property, plant and equipment existing outside Japan, so there is no applicable item.
3. Information on each major customer There is no single outside customer who accounts for 10% or more of operating revenue, so this is not stated.
172
Information on impairment loss of non-current assets by reporting segment 56th Year (from April 1, 2014 to March 31, 2015) There is no applicable item.
57th Year (from April 1, 2015 to March 31, 2016) There is no applicable item.
Information on the amortized amount and non-amortized balance of goodwill by reporting segment 56th Year (from April 1, 2014 to March 31, 2015) There is no applicable item.
57th Year (from April 1, 2015 to March 31, 2016) There is no applicable item.
Information on gain on negative goodwill by reporting segment 56th Year (from April 1, 2014 to March 31, 2015) There is no applicable item.
57th Year (from April 1, 2015 to March 31, 2016) There is no applicable item.
173
(Information per share)
56th Year 57th Year Item (From April 1, 2014 (From April 1, 2015 to March 31, 2015) to March 31, 2016) Net assets per share 250.20 yen 267.27 yen
Net income per share 15.74 yen 25.25 yen (Notes) 1. With respect to net income per share after the adjustment of potential common shares, there is the balance of subscription rights to shares. However, the shares of the Company are not listed on stock exchanges, and the average stock price during a fiscal year cannot be obtained. The effect of dilution therefore cannot be calculated. As a result, net income per share after the adjustment of potential common shares is not stated.
2. The basis for the calculation of net income per share is as shown below. 56th Year 57th Year Item (From April 1, 2014 (From April 1, 2015 to March 31, 2015) to March 31, 2016) Net income (million yen) 3,101 4,962 Amount not belonging to common - - shareholders (million yen) Net income for common shares (million yen) 3,101 4,962 Average number of common shares during 196,903 196,464 the fiscal year (thousand shares) Outline of potential common shares that are 15,902,700 shares as stock 1,762,200 shares as stock not included in the calculation of net income option (1) for FY2009, option (1) for FY2009, per share after the adjustment of potential 1,567,500 shares as stock 174,900 shares as stock common shares due to no effect of dilution option (2) for FY2009, option (2) for FY2009, and 2,310,000 shares as stock 4,738,800 shares as stock option (1) for FY2010, option (1) for FY2011 2,,310,000 first subscription rights to shares, and 5,029,200 shares as stock option (1) for FY2011
3. The basis for the calculation of net assets per share is as shown below 56th Year 57th Year Item (March 31, 2015) (March 31, 2016) Total net assets (million yen) 49,265 52,438 Amount to be deducted from total net assets - － (million yen) Net assets for common shares at the end of 49,265 52,438 the fiscal year (million yen) Number of common shares at the end of the fiscal year used to calculate net assets per 196,903 196,198 share (thousand shares)
(Material subsequent events) There is no applicable item.
174
4. Restrictions on Transactions with Interested Parties
Pursuant to provisions of the Financial Instruments and Exchange Act, the Management Company is prohibited from conducting the following acts with interested parties. (1) Engaging in investments where the Management Company conducts transactions with itself or any directors or executives thereof (excluding those that the Cabinet Office Ordinance states are unlikely to result in insufficient protection of investors, harm the fairness of transactions or cause a loss of confidence in financial instruments business); (2) Engaging in investments where transactions are conducted between investment properties (excluding those that the Cabinet Office Ordinance states are unlikely to result in insufficient protection of investors, harm the fairness of transactions or cause a loss of confidence in financial instruments business); (3) Engaging in trading or other transactions of securities or financial derivative transactions with the parent juridical person, etc. of the Management Company (those that own the majority of voting rights of the total shareholders, etc. of the Management Company, or otherwise satisfies the requirements specified in the Cabinet Order as a corporation or other organization having a close relationship with the financial instruments business operator; the same shall apply in (4) and (5) below) or subsidiary juridical person, etc. (those in which the Management Company owns a majority of voting rights of the total shareholders, etc., or otherwise satisfies the requirements specified in the Cabinet Order as a corporation or other organization having a close relationship with the financial instruments business operator; the same shall apply below) under terms and conditions that differ from that of an ordinary transaction and may possibly impair the fairness of transactions; (4) Engaging in investments where transactions that are unnecessary in light of investment policies, value of the investment properties or market conditions are conducted with the purpose of promoting the interest of the parent juridical person, etc. or subsidiary juridical person, etc. of the Management Company with regard to the investment management business conducted thereby; and (5) In addition to those in (3) and (4) above, any acts involving the parent juridical person, etc. or subsidiary juridical person, etc. of the Management Company that are specified by a Cabinet Office Ordinance as being likely to result in insufficient protection of investors, harm the fairness of transactions or cause a loss of confidence in financial instruments business.
5. Other (1) Amendments to the Articles of Incorporation Amendments to the articles of incorporation of the Management Company require resolution at a shareholders’ meeting. (2) Lawsuits and Significant Matters There have been no facts that significantly affected the Management Company or lawsuits, etc, that are expected to significantly affect the Management Company.
175
Trust Deed for Open-end Securities Investment Trust Listed Index Fund TOPIX
Article 1 (Type of Trust, Trustor and Trustee) 1. This Trust is a securities investment trust, having Nikko Asset Management Co., Ltd. as Trustor and Mitsubishi UFJ Trust and Banking Corporation as Trustee. 2. The Trust Act (Act No. 62 of 1922) applies to this Trust except for the matters of requirements for perfection of assets belonging to the trust assets.
Article 2 (Delegation of Trust Business) The Trustee may enter into a trust deed with a financial institution, which is licensed to operate a combined management of trust business under Article 1, Paragraph 1 of the Act on Provision, etc. of Trust Business by Financial Institutions, and pursuant to such deed, it may delegate part of the trust business to be dealt with for this Trust to such financial institution in the form of delegation of trust business as provided for in Article 26, Paragraph 1 of the Trust Act.
Article 3 (Purpose and Amount of Trust, Limitation on Additions to Trust Fund) 1. The Trustor shall deposit, and the Trustee shall accept, the amount of 9.97 billion yen (9,970,000,000 yen) to be held in trust in cash and securities for the purpose of making profits for and on behalf of the beneficiaries. 2. Upon agreement with the Trustee, the Trustor may make additions, either in cash or in securities, to the trust fund to a maximum limit of 30 trillion yen (30,000,000,000,000 yen), and in case of any such addition to the trust fund, the Trustee shall deliver a certificate of acceptance in writing to the Trustor. 3. Upon agreement with the Trustee, the Trustor may change the maximum limit specified in the preceding paragraph.
Article 4 (Trust Term) No term shall be set for this Trust; provided that this Trust may be terminated under Article 47, Paragraph 1 of Article 48, Paragraph 1 of Article 49 and Paragraph 2 of Article 51.
Article 5 (Offering for Sale of Beneficial Interests) The solicitation for sale of beneficial interests of this Trust shall be made through a public offering under Article 2, Paragraph 8 of the Act on Investment Trusts and Investment Corporations that shall fall under one form of the offerings for sale as provided for in Article 2, Paragraph 3, Item 1 of the Financial Instruments and Exchange Act of Japan.
Article 6 (Initial Beneficiaries) 1. The initial beneficiaries at the time of execution of the Trust Deed or at the time of an addition to the trust fund shall be the subscribers of beneficial interests designated as such by the Trustor, and their beneficial interests divided under Article 7 shall belong to such subscribers in proportion to their respective number of units subscribed. 2. In connection with the beneficiaries referred to in the preceding paragraph, the Trustee shall register its name or corporate name, address and any other matters specified by it in the register of beneficiaries set out in Article 21. The Trustee shall also separately register its personal number (meaning the personal number defined in Article 2-5 of the Act on the Use of Numbers to Identify a Specific Individual in Administrative Procedures; hereinafter the same) or corporate number (meaning the corporate number defined in Article 2-15 of the Act on the Use of Numbers to Identify a Specific Individual in Administrative Procedures; hereinafter the same).However, Trustees that do not have a personal number or corporate number are prohibited from registering (the same shall apply in Article 21-1).
Article 7 (Division or Subdivision of Beneficial Interests) 1. The Trustor shall divide the beneficial interests set out in Paragraph 1 of Article 3 equally into the number of units obtained by dividing such interests by a value in yen equivalent to the closing price of TOPIX (any fraction less than a full yen being rounded up) on the 176
business day immediately preceding the date of execution of the Trust Deed or the beneficial interests derived from any addition to the trust fund equally into the number of units added under Paragraph 1 of Article 8 upon each addition. 2. The Trustor may, upon consultation with the Trustee, equally subdivide the beneficial interests existing as at a given day in accordance with the provisions set forth in the Act on Book-Entry Transfer of Company Bonds, Shares, etc. (hereinafter referred to as the “Book- Entry Transfer Act”).
Article 8 (Additional Trust) 1. The Trustor shall, in principle, make an addition to the trust fund in this Trust with securities (excluding those in which no investment may be permitted under the Trust Deed); provided that if the aggregate of the value of such securities (i.e., the value calculated on the basis of the closing price reported on the business day immediately preceding the day on which the addition is made to the trust fund or any equivalent value calculated in any reasonable manner; the same shall apply hereinafter) is less than the value obtained by multiplying the net asset value per unit of the business day immediately preceding the day on which the addition is made to the trust fund by the number of the beneficial interests of such additional trust, then such addition to the trust fund shall be made in cash with respect to the resultant difference. 2. As regards the added trust fund (including the value of the securities placed in trust), a difference between the added amount and the amount equal to principal shall be treated as the difference of additional trust.
Article 9 (Calculation Method of Net Asset Value per Unit) For the purpose of the Trust Deed, the “Net Asset Value per Unit” means an amount calculated by dividing the total amount of assets of the trust assets obtained through assessment at the current market price of such assets (excluding collateral securities) belonging to the trust assets in accordance with the relevant laws and regulations as well as the rules of The Investment Trusts Association, Japan, less the total amount of liabilities, (hereinafter referred to as the “Total Net Asset Value”) by the total number of the beneficial interests as of the calculation date and by rounding to the nearest figure of one-tenth of a yen.
Article 10 (Description of Beneficial Interests with Different Trust Dates) The beneficial interests in this Trust shall not be treated differently depending on the different trust dates.
Article 11 (Attribution of Beneficial Interests and Non-issuance of Beneficiary Certificates) 1. The provisions of the Book-Entry Transfer Act shall apply to the beneficial interests in this Trust from January 4, 2008. The attribution of beneficial interests which are added to the trust fund on or after the same date shall be determined by entry or record in a book-entry transfer account book of a book-entry transfer institution agreed by the Trustor to deal with the beneficial interests in this investment trust in advance (which refers to the “Book-Entry Transfer Institution” as defined in Article 2 of the Book-Entry Transfer Act; hereinafter referred to as the “Book-Entry Transfer Institution”) and any account management institution subordinate to such Book-Entry Transfer Institution (“account management institution” as defined in Article 2 of the Book-Entry Transfer Act; including the Book-Entry Transfer Institution, hereinafter referred to as the “Book-Entry Transfer Institution, Etc.”) (beneficial interests determined by entry or record in a book-entry transfer account book shall be hereinafter referred to as the “Book-Entry Transfer Beneficial Interests”). 2. The Trustor shall not issue beneficiary certificates representing the Book-Entry Transfer Beneficial Interests when the designation of the Book-Entry Transfer Institution dealing with the beneficial interests in this Trust by the Minister in charge is cancelled by the provisions of the Book-Entry Transfer Act or when such designation becomes invalid, except for the cases where there exists no one who succeeds to the transfer business of such Book- Entry Transfer Institution or there are other unavoidable circumstances. In addition, beneficiaries shall not make a request to convert their bearer beneficiary certificates into registered beneficiary certificates, or convert their registered beneficiary
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certificates into bearer beneficiary certificates, or reissue beneficiary certificates unless the Trustor issues beneficiary certificates due to unavoidable circumstances. 3. The Trustor shall, as regards the beneficial interests divided by the provisions of Article 7, notify the Book-Entry Transfer Institution of the matters provided for in the Book-Entry Transfer Act for a new entry or record in a book-entry transfer account book of the Book- Entry Transfer Institution, Etc. The Book-Entry Transfer Institution, Etc. shall, if there is a notification from the Trustor to the Book-Entry Transfer Institution, make a new entry or record in the book-entry transfer account book managed by the Book-Entry Transfer Institution, Etc. in accordance with the provisions of the Book-Entry Transfer Act. 4. The Trustor may apply for entry or record of the beneficial interests in this Trust in the transfer acceptance book for and on behalf of the beneficiaries and shall, in principle, apply for entry or record of all of the beneficial interests in this Trust as of December 28, 2007 (such beneficial interests are those whose record of exchange in the trust assets has already been finished and include those whose distribution date of shares in relation to such exchange is on or after January 4, 2008) in the transfer acceptance book on January 4, 2008 for and on behalf of the beneficiaries. However, as regards the beneficiary certificates that have not been entered or recorded in the participant account book and the beneficial interests related to the beneficiary certificates not held in a custody account in the central securities custody and book-entry transfer system, the Trustor shall make such application after it confirms such beneficiary certificates during the trust term. The beneficiary certificates relating to the beneficial interests entered or recorded in the transfer acceptance book shall become invalid and they shall become the Book-Entry Transfer Beneficial Interests by such entry or record. In addition, the Trustor may, when applying for entry or record of the beneficial interests in this Trust in the transfer acceptance book for and on behalf of the beneficiaries, delegate the procedure of such application to a Type 1 financial instruments business operator designated by the Trustor (which refers to a person who conducts the Type 1 financial instruments business provided for in Article 28, Paragraph 1 of the Financial Instruments and Exchange Act designated by the Trustor; the same shall apply hereinafter) or a member of a financial instruments exchange as an account management institution (which refers to a financial instruments exchange prescribed in Article 2, Paragraph 16 of the Financial Instruments and Exchange Act and a foreign financial instruments market prescribed in Article 2, Paragraph 8, Item 3-b of the Financial Instruments and Exchange Act; the same shall apply hereinafter).
Article 12 (Notification by Trustee of Creation of Beneficial Interests) The Trustee shall notify the Trustor that an addition to the trust fund has been made when the Trustee receives notification of the acceptance or transfer of the unit shares associated with such addition to the trust fund (including the amount equal to the value of the equities of the issuing company, etc. set forth in Paragraph 1 of Article 13).
Article 13 (Subscription Method, Unit of Beneficial Interests and Value of Beneficial Interests) 1. Subscription shall be made by applicants with the equities held by them against the Type 1 financial instruments business operator designated by the Trustor. In this case, the equities for the subscription shall be those in the constituent shares of TOPIX in the same constituent ratio as TOPIX; provided that if the applicant is an issuing company or any of its subsidiaries (which refer to those as set forth in Article 2, Item 3 of the Companies Act; hereinafter referred to as the “Issuing Company, Etc.,” including the issuing company) of the stock issues included in TOPIX, subscription may be made in cash with respect to the subscription in an amount equal to the value of the equities of the Issuing Company, Etc. to be included in such subscription. 2. The Type 1 financial instruments business operator designated by the Trustor may deal for the applicant with the subscription for the beneficial interests divided pursuant to the provision of Article 7, Paragraph 1 in the unit of the minimum subscription number (which is to be determined by the Trustor as the number equal to an amount multiplied by the value of beneficial interests being equivalent to the aggregate value of the unit shares (which refer to all of such numbers of respective constituent shares of TOPIX as specified by the Trustor; the same shall apply hereinafter) on the subscription date). 3. The applicant referred to in the preceding paragraph shall indicate an account of the Book- Entry Transfer Institution, Etc. used for the transfer of beneficial interests for the Trust
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established for the applicant to the Type 1 financial instruments business operator designated by the Trustor at the time of or prior to the subscription in which the increase in the number of units of the applicant is described or recorded. The Type 1 financial instruments business operator designated by the Trustor may describe or record the increase in the number of units of the applicant in the account in exchange for delivery or payment of the unit shares required for the application for subscription (including the amount equal to the value of the equities of the Issuing Company, Etc. set forth in Paragraph 1 above). 4. Notwithstanding the provisions set forth in Paragraph 2 above, if the day on which application for subscription is made falls under any of the following items, the Type 1 financial instruments business operator designated by the Trustor shall not handle such application, in principle: 1) During the four (4) business days from the business day immediately preceding ex right date (excluding ex dividend date) for the relevant constituent shares of the TOPIX; 2) During the six (6) business days from the third (3rd) business day immediately preceding the day on which the number of shares has been changed as a result of a change in the constituent shares of the TOPIX or a change in the number of shares due to an increase or decrease in capital, etc.; 3) During the three (3) business days before the last day of each calculation period set forth in Article 34 hereof (if the last day of the calculation period is a holiday, then during the four (4) business days before the last day of each calculation period); 4) During the five (5) business days immediately preceding the termination date of the Trust if it is to be terminated; or 5) In addition to the above items, if the Trustor considers that there have occurred any unavoidable events that might hinder management in accordance with the basic policies for management as provided for in each item in Article 24 hereof. 5. The value of beneficial interests as referred to in Paragraph 2 above shall be the Net Asset Value per Unit as of the subscription date; provided that the value of the beneficiary certificates subscribed prior to the day when the Trust Deed is executed shall be the price per unit in yen (any fraction less than a full yen to be rounded up) equal to the closing price of TOPIX on the business day immediately preceding such day. 6. The applicant shall satisfy an amount of the difference, if any, resulting from the total of the aggregate value of the equities of the subscription set out in Paragraph 1 and the cash set out in the proviso thereto being less than an amount obtained by multiplying the value of beneficial interests by the number of units subscripted as set out in the preceding paragraph. 7. At the time of its acceptance of subscription, the Type 1 financial instruments business operator designated by the Trustor may charge the applicant its own specified fees and the consumption and local taxes (hereinafter referred to as the “Consumption Tax, Etc.”) thereon. 8. In the event of an applicant being the Issuing Company, Etc. of the constituent shares of TOPIX, the Type 1 financial instruments business operator designated by the Trustor which has accepted the subscription shall notify the Trustor in writing of the name of the applicant and the number of units subscribed by it at the time of the acceptance thereof (including any such case as the Type 1 financial instruments business operator makes subscription on its own behalf if it falls under the Issuing Company, Etc. of the constituent shares of TOPIX; the same shall apply in the next paragraph). 9. Should any damage occur to the trust assets, etc. in the absence of such notice as set out in the preceding paragraph at the time of the subscription, the Type 1 financial instruments business operator which has accepted it shall be liable for such damage. 10. Notwithstanding the provisions of each of the preceding paragraphs, the Trustor shall be entitled to suspend the acceptance of subscriptions of beneficial interests or cancel the subscriptions thereof already made when there are unavoidable circumstances such as a suspension of trading or suspension of the settlement function on the relevant financial instruments exchange.
Article 14 (Listing on Financial Instruments Exchange) 1. The Trustor shall apply for listing of the beneficial interests in the Trust (which are represented by beneficiary certificates before January 4, 2008; the same shall apply to the provisions of this Article) on a financial instruments exchange, which shall be listed on the market established by the exchange upon approval given by it in accordance with its specified rules and regulations.
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2. In the event of the beneficial interests in the Trust being listed on any financial instruments exchange as set out in the preceding paragraph, the Trustor shall comply with the rules and regulations defined by the exchange as well as with such delisting or suspension of trading or any such other action as may be taken for the beneficial interests by the exchange under its rules and regulations.
Article 15 (Entries or Records in the Transfer of Beneficial interests) 1. If a beneficiary transfers its beneficial interests, the beneficiary shall make a request of transfer to the Book-Entry Transfer Institution, Etc. managing the book-entry transfer account book in which the beneficial interests to be transferred are listed or recorded. 2. In the case of the above-mentioned request, the Book-Entry Transfer Institution, Etc., shall describe or record the decrease of the beneficial interests held by the beneficiary as well as the increase of the beneficial interests held by the transferee in the book-entry transfer account book managed by the Book-Entry Transfer Institution, Etc. Provided, however, that if the transferee account is not established by the Book-Entry Transfer Institution, Etc., it shall notify the other Book-Entry Transfer Institution, Etc. which has established the transferee account (including upper positioned institutions of such other Book-Entry Transfer Institution, Etc.) pursuant to the Book-Entry Transfer Act thereof to ensure that it describes or records the increase of the beneficial interests in the transferee account. 3. Upon conducting the transfer set forth in Paragraph 1, the Trustor may implement a transfer suspension date or transfer suspension period as deemed necessary or if it judges that there are unavoidable circumstances, such as the case where the Book-Entry Transfer Institution, Etc. managing the book-entry transfer account book in which the beneficial interests to be transferred are listed or recorded differ from the Book-Entry Transfer Institution, Etc. which have established the transferee account.
Article 16 (Requirements for Perfection of Transfer of Beneficial Interests) The transfer of beneficial interests may not be asserted against the Trustor or Trustee unless listed or recorded in the book-entry transfer account book under the provisions of the preceding Article.
Article 17 (Reissue of Bearer Beneficiary Certificates) (Deleted)
Article 18 (Reissue of Registered Beneficiary Certificates) (Deleted)
Article 19 (Reissue When Beneficiary Certificates Are Defaced, Etc.) (Deleted)
Article 20 (Expense of Reissue of Beneficiary Certificates) (Deleted)
Article 21 (Preparation of Register of Beneficiaries and Registration of Beneficiaries) 1. The Trustee shall prepare a register of beneficiaries for the Trust and register the holders of beneficial interests notified by the Book-Entry Transfer Institution pursuant to the Book- Entry Transfer Act, any relevant laws, regulations and rules as of the last day of the calculation period by entering its name or corporate name, address and any other matters specified by it in the register of beneficiaries as the beneficiaries of the beneficial interests listed or recorded in the book-entry transfer account book managed by the Book-Entry Transfer Institution, Etc. The Trustee shall also separately register its personal number or corporate number. However, regarding the payment of income distributions prescribed in Article 39-2, it is prohibited to register the personal number or corporate number of beneficiaries that are issued beneficiary certificates via the payment handlers defined in Article 9, Paragraph 3(2)-1 of the Special Taxation Measure Act. The Trustee, however, may enter into a delegation contract with another securities agency company or any such other party as it may deem eligible to delegate the preparation of the register to such company or party.
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2. Any beneficiary holding bearer certificates may request its name to be entered in the register referred to in Paragraph 1 through a member of the relevant financial instruments exchange (who is an account management institution; the same shall apply hereinafter). In this case, such member may charge the beneficiary its own specified fees and the Consumption Tax, Etc. thereon; provided that securities and financial companies may affect any such entry as set out in the preceding paragraph directly to the Trustee (or the party to which the Trustee has delegated the preparation of the register as set out in Paragraph 1 above). 3. The registration of beneficiaries set out in the preceding paragraphs shall be suspended for a period of fifteen (15) days from the day next following the last day of each calculation period specified in Article 34. If the Trust is terminated, such registration shall also be suspended for a period of five (5) business days immediately prior to the date of termination of the Trust. 4. For the beneficiaries as of the date of the execution of these Trust Deed and beneficiaries of additional trusts prior to January 4, 2008, beneficiary certificates shall be issued after making the registration set out in Paragraph 1. The beneficiaries of additional trusts after January 4, 2008 shall be entered or recorded in the book-entry transfer account book managed by the Book-Entry Transfer Institution, Etc. after making the registration set out in Paragraph 1.
Article 22 (Types of Assets in Which the Trust May Invest) The types of assets in which this Trust may invest (which refer to such specific assets as provided for in each item of Article 3 of the Order for Enforcement of the Act on Investment Trusts and Investment Corporations) shall be as listed below: 1) Securities; 2) Interests in derivatives transactions (as defined in Article 2, Paragraph 20 of the Financial Instruments and Exchange Act and provided for in Article 26 hereof); and 3) Monetary claims.
Article 22-2 (Restrictions on investment regarding derivative transactions, etc.) The derivative transactions shall be such that the amount calculated in a reasonable manner pursuant to the rules of the Investment Trusts Association, Japan does not exceed the total net asset value of the trust asset.
Article 23 (Scope of Investment Instructions) 1. The Trustor shall give instructions so that the trust funds are invested primarily in equities. 2. Notwithstanding the provisions of the preceding paragraph, the Trustor may give instructions so that the trust funds are invested in the securities (excluding the rights deemed as securities provided for in Article 2, Paragraph 2 of the Financial Instruments and Exchange Act) and financial instruments (including the rights deemed as securities provided for in each of the items of Article 2, Paragraph 2 of the Financial Instruments and Exchange Act) other than equities listed below when the Trustor deems it necessary to do so in investment management to cope with the creation, cancellation or redemption of this Trust or for the purpose of taking appropriate measures against any change in the investment environment or otherwise: 1) Deposits; 2) Beneficiary certificates for designated money trusts (limited to the beneficiary certificates for the trusts issuing beneficiary certificates as defined in Article 2, Paragraph 1, Item 14 of the Financial Instruments and Exchange Act); 3) Designated money trusts (excluding the trusts issuing beneficiary certificates as defined in Article 2, Paragraph 1, Item 14 of the Financial Instruments and Exchange Act); and 4) Call loans.
Article 24 (Basic Policies for Investment Management) The Trustor shall give instructions concerning management of the trust assets based upon the basic policies as described in each of the following items: 1) This Trust invests in the constituent shares of TOPIX and seeks to achieve a performance tracking TOPIX.
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2) In each of the following events, the Trustor may give instructions to adjust the composition of the trust assets pursuant to the basic policy as described in Item 1. above: a. If the calculation method of TOPIX has been changed; b. If the market capitalization of any of the constituent shares of TOPIX has been revised reflecting a change in the constituent shares of TOPIX, capital movements, etc.; c. If any instruction is given for making additional trust and exchange of beneficial interests for shares; or d. If the Trustor otherwise deems necessary to maintain close tracking to TOPIX. 3) In order to achieve a closer tracking to TOPIX, the Fund may execute securities index futures trading, etc. set forth in Article 26 hereof according to the funds movement. 4) In the event of terminating the Trust, investment management as described in each item above may be impracticable. 5) No restriction shall be placed on the ratio of shares in the investment portfolio, in principle. 6) No investment shall be made in foreign currency-denominated assets. 7) Equity, debt, and derivative are the categories of exposures prescribed in the rules of The Investment Trusts Association, Japan. With regard to the exposures, in principle, the individual category’s exposure to a certain interest counterparty, the kind of a counterparty prescribed in the rule, shall not exceed 10% of the total net asset value of the trust assets. And all the categories’ exposure to a certain counterparty shall not exceed 20%. If the ratio exceeds the limit, the Trustor shall carry out adjustment to keep within the limit pursuant to the rules of The Investment Trusts Association, Japan.
Article 25 (Scope of Equities to Invest In) The Trustor shall give instructions to invest in equities issued by the Issuing Companies whose equities are included in TOPIX, except for those equities acquired by way of allotment to shareholders.
Article 26 (Instructions, Purpose and Scope of Futures Trading, Etc.) The Trustor may give instructions to execute trading similar to TOPIX futures and options trading on financial instruments exchanges in Japan as well as trading similar to TOPIX futures and options trading on foreign financial instruments exchanges.
Article 27 (Instructions for and Scope of Lending of Securities) 1. For efficient management of the trust assets, the Trustor may give instructions for lending of any equities attributable to the trust assets to the extent specified in Paragraph 2 below. 2. Any such lending of equities as set forth in the preceding paragraph shall be such that the total market price of the equities to be lent shall not exceed the total market price of the equities held in the trust assets at the time of lending. 3. In the event that the relevant lending is made in excess of the amount of the limit specified in the preceding paragraph, the Trustor shall immediately give instructions for cancellation of such part of the loan agreement as equivalent to the amount in excess. 4. The Trustor shall give instructions for the acceptance of any collateral on the lending of equities if it deems it necessary to do so at the time of the lending.
Article 27-2 (Delegation of Trust Business, Etc.) 1. When the Trustee entrusts part of the trust business as defined in Article 22, Paragraph 1 of the Trust Business Act upon consultation with the Trustor, the Trustee shall select a person who meets all of the following requirements (including an interested person of the Trustee (as defined in Article 29, Paragraph 2, Item 1 of the Trust Business Act applied mutatis mutandis pursuant to the Act on Provision, etc. of Trust Business by Financial Institutions; the same shall apply hereinafter)) as the person to whom such trust business is delegated. 1) In light of the credibility of the person to whom such trust business is delegated, there is no concern for the continuous performance of the business by the person. 2) In light of the person’s past performance in the business to be delegated, the person is deemed to have the ability to properly process the business to be delegated.
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3) When delegating the custody, etc. of the trust assets, the person has a system to classify and manage the trust assets. 4) The person has a system to properly carry out the business related to internal management. 2. The Trustee shall, in selecting a person to whom such trust business is delegated provided for in the preceding paragraph, confirm that the person meets the requirements set forth in each of the items of the preceding paragraph. 3. Notwithstanding Paragraph 2 above, the Trustee may delegate the business set forth in each of the following items (to the extent that it requires no discretion) to a person (including an interested person of the Trustee) deemed to be appropriate by both the Trustee and Trustor: 1) The business concerning the maintenance of the trust assets; 2) The business for the use or improvement of the trust assets to the extent it does not change the nature of the trust assets; 3) The business related to the activities required for the disposal of the trust assets or achievement of other trust objectives carried out solely under the instructions of the Trustor; and 4) The activities to provide support functions for the Trustee to carry out its business.
Article 28 (Custody of Equities) (Deleted)
Article 29 (Retention, Etc. of Registration, Entry, Etc. of Trust Assets) 1. The trust assets, the registration or recording of which is possible, shall be registered or recorded. However, registration or recording of trust assets may be suspended if the suspension is approved by the Trustee. 2. Notwithstanding the proviso in the preceding paragraph, when the Trustor or the Trustee deems it necessary to protect the beneficiaries, registration or record shall be made immediately. 3. The trust assets that can be listed or recorded as being attributable to the trust assets shall be listed or recorded as being attributable to the trust assets and shall be classified and managed by a method to clarify the calculation. However, when the Trustee permits, it may be classified and managed in a way that clarifies the calculation method. 4. Personal property (excluding money) may be classified and managed in a way that makes it distinguishable by outward appearance or a way that clarifies the calculation method.
Article 30 (Instructions for Sale, Etc. of Securities) The Trustor may give instructions for sale, etc. of any securities attributable to the trust assets.
Article 31 (Instructions for Reinvestment) The Trustor may give instructions to reinvest any proceeds from such sale as set forth in the provisions of the preceding Article, any distributions on settlement of equities, dividends on equities and any other accounts receivable.
Article 32 (Attribution of Profit and Loss) Any profit or loss of the trust assets resulting from any act taken in accordance with the Trustor’s instructions shall be attributable to the beneficiaries.
Article 33 (Advance Payment of Funds by the Trustee) 1. With respect to any securities attributable to the trust assets, the Trustee may, upon request of the Trustor, make advance payment of funds in the event of new shares being issued. 2. If there exist any distributions on settlement of equities, dividends on equities and other accounts receivable belonging to the trust assets, the amount of which can be estimated on or prior to the termination date of the Trust, the Trustee may make advance payments and transfer these accounts to the trust assets. 3. Matters concerning settlement of, and interest on, the advance payments made under the preceding two paragraphs shall be determined separately on a case-by-case basis through consultations between the Trustor and the Trustee.
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Article 34 (Calculation Period of Trust) The calculation period of this Trust shall begin on July 9 of each year and end on July 8 of the following year; provided, however, that the first calculation period shall begin on December 20, 2001 and end on July 8, 2002 and that the termination date of the final calculation period shall be the termination date of the trust term provided for in Article 4 hereof.
Article 35 (Reports on Trust Assets) 1. The Trustee shall calculate profits and losses at the end of each calculation period, prepare a report on the trust assets and submit it to the Trustor. 2. At the termination of the Trust, the Trustee shall make final calculations, prepare a report on the trust assets and submit it to the Trustor.
Article 36 (Expenses for Trust Business) Any and all taxes imposed on the trust assets, expenses resulting from conducting trust business, interest on the advance payments made by the Trustee, audit expenses of the financial documents on the trust assets as well as Consumption Tax, Etc. on such expenses (hereinafter referred to as “Expenses,” which may include expenses for listing of beneficial interests as well as royalties on TOPIX and any other indexes and Consumption Tax, Etc. on such royalties) shall be borne by the beneficiaries and paid out of the trust assets.
Article 37 (Amount of Trust Fees, Etc.) 1. The aggregate amount of the trust fees for the Trustor and the Trustee shall be the total of the amounts calculated in each of the following items: 1) An amount obtained by multiplying the Total Net Asset Value of the trust assets by 22/10,000 per annum or less for each day throughout the calculation period set out in Article 34; and 2) When the instruction of the lending of securities set out in Article 27 is given, an amount of 50/100 or less of the lending commission. 2. The trust fees provided for in the preceding paragraph shall be paid out of the trust assets at the end of each calculation period or at the time of termination of the Trust, and the allotment of such fees between the Trustor and the Trustee shall be determined separately. 3. An amount equal to Consumption Tax, Etc. on the trust fees set out in Paragraph 1 shall be paid out of the trust assets at the time of paying such trust fees.
Article 38 (Income Distributions) 1. With respect to income such as dividends derived from the trust assets (meaning a sum of dividends, interest, lending commissions on securities loaned and any similar income less interest payable; the same shall apply hereinafter) plus reserve for distributions carried over from the preceding period, the remaining amount after deducting the Expenses, trust fees and Consumption Tax, Etc. on such trust fees as at the end of each calculation period and also covering in full a deficiency in reserve for distributions carried over from the preceding period (if any) shall be distributed to the beneficiaries; provided, however, that if the balance obtained after the above deduction and covering is reserved, in part or in whole, in the trust assets to adjust the income distribution amount, such sum may be retained as a reserve for distributions to apply it to the distributions in the next period and thereafter. In addition, if the sum of the Expenses, trust fees and Consumption Tax, Etc. on such trust fees as well as a deficiency in reserve for distributions may not be deducted in full, the amount not deducted shall be carried over to the next period as a deficiency in reserve for distributions. 2. The sum of the income as listed in 1) below derived from the trust assets as at the end of each calculation period shall, if there is any net operating loss carryforward after deducting the loss as listed in 2) below, be carried over to the next period after covering the amount in full. 1) Gains on trading of securities (including their unrealized gains), gains on trading of futures, etc. (including their unrealized gains), gains on additional trust creations and gains on exchanges; 2) Losses on sales of securities (including their unrealized losses), losses on the trading of futures, etc. (including their unrealized losses), losses on additional trust creations and losses on exchanges.
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Article 39 (Payment of Income Distributions) 1. With the persons whose names have been registered in the register of beneficiaries set out in Article 21 as of the day on which the calculation period ends as the beneficiaries as of the day on which the calculation period ends (hereinafter referred to as the “Beneficiaries Whose Names Have Been Registered”), income distributions shall be paid to such Beneficiaries Whose Names Have Been Registered. After the payment of income distributions to the Beneficiaries Whose Names Have Been Registered, even if the Beneficiaries Whose Names Have Been Registered are different from the holders of beneficial interests even after the transition to the book-entry transfer system as of the day on which the calculation period ends, the Trustee shall not be liable for the payment of income distributions to such holders and any other damages. 2. The payment of the income distributions as set forth in the preceding paragraph shall be made by the Trustee in principle on the day specified by the Trustor within forty (40) days after the day on which each calculation period ends by transferring such income distributions to the deposit account, etc. designated in advance by the Beneficiaries Whose Names Have Been Registered. In addition, when the Beneficiaries Whose Names Have Been Registered have entered into a separate agreement on the handling of income distributions with the members provided for in Article 21, Paragraph 2, the income distributions shall be paid in accordance with such agreement. 3. The Trustee may delegate the payment of the income distributions to the party to which the preparation of the register of beneficiaries has been delegated in accordance with the provisions of Paragraph 1 of Article 21 hereof.
Article 40 (Prescription Period for Payment of Income Distributions and for Exchange of Equities or Payment of Repurchase Proceeds upon Termination of Trust) Beneficiaries shall, with respect to income distributions, lose their right if they fail to claim the payment of the income distributions within five (5) years from the date of commencement of payment thereof specified in Paragraph 2 of the preceding Article or to claim the exchange of equities or the payment of the proceeds from repurchase of equities upon termination of Trust within ten (10) years from the date of termination of trust, and such right shall revert to the Trustor thereafter.
Article 41 (Partial Cancellation) In connection with their beneficial interests, beneficiaries may not request the partial cancellation of this Trust during the trust term.
Article 42 (Exchange of Beneficial interests for Equities Attributable to Trust Assets) 1. Beneficiaries shall be entitled to request the Trustor to exchange their beneficial interests for the equities of their interests in the trust assets (hereinafter referred to as the “Exchange”) in an integral multiple of the minimum number of units for an Exchange request during a period from March 4 to March 20, 2002 and at any time after July 9, 2002. 2. The minimum number of units for an Exchange request referred to in the preceding paragraph shall be the number of units specified by the Trustor as the value obtained by multiplying the relevant number of units by the Net Asset Value per Unit on the Exchange request date being equal to the aggregate value of unit shares on such date. 3. Notwithstanding the provisions set forth in Paragraph 1 above, the Trustor shall accept no Exchange request if the Exchange request date falls on any day of the following: 1) During the four (4) business days from the business day immediately preceding ex right date (excluding ex dividend date) for the relevant constituent shares of the TOPIX; 2) During the six (6) business days from the third (3rd) business day immediately preceding the day on which the number of shares has been changed as a result of a change in the constituent shares of the TOPIX or a change in the number of shares due to an increase or decrease in capital, etc.; 3) During the three (3) business days before the last day of each calculation period set forth in Article 34 hereof (if the last day of the calculation period is a holiday, then during the four (4) business days before the last day of each calculation period); 4) During the five (5) business days immediately preceding the termination date of the Trust if it is to be terminated; and
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5) In addition to the above items, if the Trustor considers that there have occurred any unavoidable events that might hinder management in accordance with the basic policies for management as provided for in each item in Article 24 hereof. 4. In the event of an Exchange request being made by a beneficiary under Paragraph 1, the beneficiary shall make such request with its Book-Entry Transfer Beneficial Interests to the Type 1 financial instruments business operator designated by the Trustor; provided that in the event of an Exchange request which results in the delivery of equities (after the transfer to the book-entry transfer system of equities, delivery refers to entry or record in the account with the Book-Entry Transfer Institution, Etc.; the same shall apply hereinafter) to the beneficiary on or after January 4, 2008 being made prior to January 4, 2008, such a request shall be made with beneficial interests that are ensured to be the Book-Entry Transfer Beneficial Interests. 5. The beneficiary who makes an Exchange request under Paragraph 1 shall make an application for the cancellation of the same number of Book-Entry Transfer Beneficial Interests as the beneficial interests required for the Exchange set out in Paragraph 7 to the Book-Entry Transfer Institution, Etc. holding its account, and the decrease in the number of units is entered or recorded in the account with the Book-Entry Transfer Institution, Etc. pursuant to the provisions of the Book-Entry Transfer Act. 6. The Trustee shall, in accordance with the Exchange instruction by the Trustor set out in Paragraph 7, treat the Book-Entry Transfer Beneficial Interests required for the Exchange as being accepted and cancelled by the cancellation procedure for the book-entry transfer account book and confirmation of the cancellation set out in Paragraph 8. 7. Upon acceptance of the Exchange request referred to in Paragraph 1 above, the Trustor shall give instructions to exchange the relevant beneficial interests for any of the equities in the trust assets in accordance with Article 43. 8. The Trustor shall treat the same number of beneficial interests as the Book-Entry Transfer Beneficial Interests to be cancelled by the Exchange as invalid from the business day immediately following the Exchange request date, and the Trustee shall confirm that the Book-Entry Transfer Beneficial Interests related to the beneficial interests have been cancelled on the date of the transfer to the exchanged equities. 9. At the time of the Exchange under Paragraph 1 above, the Type 1 financial instruments business operator designated by the Trustor may charge an amount equivalent to its own established fees and the Consumption Tax, Etc. thereon. 10. The number of equities of individual issues which the beneficiary is entitled to acquire through the Exchange shall be the number in an integral multiple of unit shares determined by the relevant financial instruments exchange, calculated on the basis of the Net Asset Value per Unit on the Exchange request date. 11. Notwithstanding the preceding paragraph, if the beneficiary who has made an Exchange request is the Issuing Company, Etc. of the equities for Exchange, the Trustor shall give instructions to exchange the beneficial interests remaining after the deduction of the number of beneficial interests in an amount equal to the aggregate value of the equities of the Issuing Company, Etc. from the number of beneficial interests the Exchange request for which has been accepted for the equities (excluding equities of the Issuing Company, Etc.) in an integral multiple of the trading unit on the exchange. 12. The Trustor shall be entitled to suspend the acceptance of Exchange requests made under Paragraph 1 or cancel the Exchange requests already accepted if it determines that the management of trust assets according to the basic management policy set out in Article 24 may be hindered for some reason, such as a suspension of trading or suspension of the settlement function on the relevant financial instruments exchange. 13. In the event of the acceptance of Exchange requests being suspended as set out in the preceding paragraph, the relevant beneficiary may withdraw its Exchange request on the day when the acceptance is suspended; provided that unless the beneficiary withdraws its request, the Trustor shall treat such request as if it was accepted on the first calculation date of the Net Asset Value per Unit immediately after such suspension is lifted.
Article 43 (Instructions, Etc. on Exchange of Beneficial Interests for Equities in Trust Assets) 1. If the Trustor has accepted a request from a beneficiary made pursuant to Paragraph 1 of the preceding Article by presenting the Trustor the Book-Entry Transfer Beneficial Interests in an integral multiple of the minimum number of an Exchange request, the Trustor shall
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calculate the number of equities of individual issues which a beneficiary is entitled to acquire as well as the number of beneficial interests required for the Exchange based on the number of the Book-Entry Transfer Beneficial Interests presented by the beneficiary. 2. The Trustor shall instruct the Trustee to exchange the same number of Book-Entry Transfer Beneficial Interests as the beneficial interests required for Exchange as set out in the preceding paragraph for those equities of unit shares in the trust assets; provided that if the beneficiary who has made an Exchange request is the Issuing Company, Etc. of the equities for the Exchange, the Trustor shall not so instruct as to such equities of the Issuing Company, Etc. 3. The Trustee shall, after confirming that an application for cancellation of the Book-Entry Transfer Beneficial Interests having been provided to it for Exchange has been accepted by the Book-Entry Transfer Institution, Etc., make a request for transfer to the Book-Entry Transfer Institution, Etc. to issue equities to the Type 1 financial instruments business operator designated by the Trustor to which the request set out in Paragraph 1 of the preceding Article has been made by the beneficiary following the instruction by the Trustor, and in principle, the Trustee shall deliver the equities in the trust assets to the Type 1 financial instruments business operator on or after the fourth (4th) business day from the date of the Exchange request. 4. The Type 1 financial instruments business operator designated by the Trustor shall promptly deliver to the beneficiary the equities delivered to it by the Trustee under the provisions of the preceding Article through the specified procedure. 5. In the event that the beneficiary making such Exchange request is the Issuing Company, etc. of the constituent shares of the TOPIX, the Type 1 financial instruments business operator forwarding the Exchange request from the beneficiary shall give written notice thereof to the Trustor when making such Exchange request (including the request for Exchange by the Type 1 financial instruments business operator for its own accounts if it falls under the Issuing Company, Etc. of the constituent shares of the TOPIX; the same shall apply to the following paragraph). 6. Should any damage occur to the trust assets, etc. in the absence of such notice as set out in the preceding paragraph at the time of the Exchange request, the Type 1 financial instruments business operator which has forwarded the Exchange request shall be liable for such damage.
Article 44 (Accounting Treatment of Exchange of Beneficial Interests for Equities) In the Exchange of beneficial interests for equities as set out in the preceding Article, a difference between the amount obtained by multiplying the number of beneficial interests for the Exchange by the Net Asset Value per Unit on the Exchange request date and the amount of principal shall be treated as the Exchange difference.
Article 45 (Purchase of Beneficial Interests) 1. If the total number of units of beneficial interests held by a beneficiary is below the trading unit of the beneficial interests as prescribed by the financial instruments exchanges, the Type 1 financial instruments business operator designated by the Trustor shall purchase such beneficial interests upon request by the beneficiary. 2. The purchase price of the beneficial interests shall be the Net Asset Value per Unit on the commitment date of purchase. 3. At the time of the purchase of beneficial interests under the preceding paragraph, the Type 1 financial instruments business operator designated by the Trustor may charge an amount equivalent to its own established fees and Consumption Tax, Etc. thereon. 4. The Type 1 financial instruments business operator designated by the Trustor shall be entitled to suspend the purchase of beneficial interests under Paragraph 1 or cancel the committed purchases of beneficial interests upon consultation with the Trustor when there are unavoidable circumstances such as a suspension of trading or suspension of the settlement function on the relevant financial instruments exchange. 5. In the event of suspension of the purchase of beneficial interests according to the preceding paragraph, the beneficiaries may withdraw their requests for purchase on such day as purchase is suspended. In the event of such request for purchase not being withdrawn by the beneficiaries, the purchase price of such beneficial interests shall be calculated deeming the first calculation day of the Net Asset Value per Unit after the lifting of such suspension as
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the commitment date of purchase pursuant to the provision set forth in the second paragraph above and also the provision set forth in the third paragraph above shall apply thereto mutatis mutandis.
Article 46 (Exchange, Etc. at the Time of Termination of Trust) 1. In the event of this Trust being terminated, the Trustor shall, with respect to the beneficial interests held by the beneficiaries, exchange the equities equivalent to their interests in the trust assets of such beneficial interests at the time of the termination for the Book-Entry Transfer Beneficial Interests which have been entered or recorded in the book-entry transfer account book as such beneficial interests or the beneficial interests representing such beneficial interests. 2. At the time of the Exchange under Paragraph 1, the Type 1 financial instruments business operator designated by the Trustor may charge an amount equivalent to its own established fees and Consumption Tax, Etc. thereon. 3. The Exchange of equities set out in Paragraph 1 shall be executed, with regard to the Book- Entry Transfer Beneficial Interests, in principle, from the following business day of the day when the Trustee has confirmed that the application for cancellation of the Book-Entry Transfer Beneficial Interests for Exchange has been accepted by the Book-Entry Transfer Institution, Etc., and with regard to the beneficial interests, from the third (3rd) business day of the day when it has been confirmed that the beneficial interests to be exchanged have been provided to the Trustee. 4. The Trustor shall, from the fourth (4th) business day prior to the termination date of the Trust, treat the same number of beneficial interests as the Book-Entry Transfer Beneficial Interests to be cancelled by the Exchange and the beneficial interests represented by the beneficial interests which the rust assets has obtained by the Exchange as invalid, and the Trustee shall confirm that the Book-Entry Transfer Beneficial Interests related to such beneficial interests have been cancelled on the date of the transfer to the exchanged equities. 5. Notwithstanding the provisions of Paragraphs 1 through 3, out of the beneficial interests held by the Trustee, the Book-Entry Transfer Beneficial Interests or the beneficial interests less than the number of beneficial interests required for the Exchange referred to in Paragraph 1 shall be purchased by the Type 1 financial instruments business operator designated by the Trustor at the redemption price on or after the termination date of the Trust. 6. At the time of the purchase under the preceding paragraph, the Type 1 financial instruments business operator designated by the Trustor may charge an amount equivalent to its own established fees and Consumption Tax, Etc. thereon.
Article 46-2 (Handling of Beneficial Interests Entered or Recorded in the Pledge Column) The payment of income distributions, acceptance of a request for the Exchange and delivery of the exchanged equities (including the Exchange at the time of the termination of Trust) relating to the beneficial interests entered or recorded in the pledge column of the book- entry transfer account book of the Book-Entry Transfer Institution, Etc. shall be handled in accordance with the Trust Deed, the Civil Code and other applicable laws.
Article 47 (Cancellation of the Trust Deed) 1. At any time during the trust term, the Trustor may cancel the Trust Deed and terminate the Trust upon agreement with the Trustee. In such a case, the Trustor shall previously notify the supervisory authorities of its intention of cancellation. 2. If any of the following items occurs during the trust term, the Trustor shall cancel the Trust Deed and terminate the Trust upon agreement with the Trustee. In such a case, the Trustor shall previously notify the supervisory authorities of its intention of cancellation. 1) If the number of units of beneficial interests falls below three (3) million 2) If the beneficial interests are delisted from all the financial instruments exchanges on which they have been listed 3) If TOPIX is abolished 4) If any amendment to the Trust Deed deemed necessary by the Trustor or the Trustee as a result of a change in the calculation method, etc. of TOPIX is not made in accordance with the provisions of Article 52, Paragraph 4
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3. As regards the matters set out in the preceding two paragraphs, the Trustor shall previously give public notice of its intention of cancellation and deliver a written instrument thereof to its known beneficiaries of the Trust Deed; provided that no such public notice shall be given in principle if the said written instrument is delivered to all the beneficiaries of the Trust Deed. 4. Such public notice and written instrument as set out in the preceding paragraph shall state that any beneficiary having an objection may raise its objection against the Trustor within a specified period, which shall not be less than one (1) month. 5. If the number of the beneficial interests of those beneficiaries who have raised their objection in a specified period set out in the preceding paragraph exceeds one-half of the total number thereof, no cancellation of the Trust Deed set out in Paragraph 1 shall be effected. 6. If the Trustor has decided not to cancel the Trust Deed, it shall give public notice of its intention not to cancel the Trust Deed and the reason therefore, and shall deliver a written instrument stating these matters to its known beneficiaries of the Trust Deed; provided that no such public notice shall be given in principle if the said written instrument is delivered to all the beneficiaries. 7. The provisions of the preceding three paragraphs shall not apply if the Trust Deed is cancelled under the provisions of Paragraph 2 above. Similar treatment shall apply if, in view of the status of the trust assets, there are truly unavoidable circumstances and if it is difficult to give the public notice and written instrument within a specified period which is not less than one (1) month as set out in Paragraph 4.
Article 48 (Order of Supervisory Authorities on Trust Deed) 1. If the Trustor receives an order from the supervisory authorities to cancel the Trust Deed, it shall cancel the Trust Deed and terminate the Trust in accordance with such order. 2. The Trustor shall comply with the provisions of Article 52 if it intends to amend the Trust Deed in accordance with the order given by the supervisory authorities.
Article 49 (Action to Be Taken upon Cancellation of the Trustor’s License, etc.) 1. In the event that the Trustor’s license is revoked by the supervisory authorities or if the Trustor is liquidated or discontinues its business, the Trustor shall cancel the Trust Deed and terminate the Trust. 2. Notwithstanding the preceding paragraph, if an order is issued by the supervisory authorities to transfer the Trustor’s business under the Trust Deed to another investment trust management company, this Trust shall continue to be in force between the said investment trust management company and the Trustee, except for the cases that fall under Paragraph 4 of Article 52.
Article 50 (Action to Be Taken upon Transfer or Succession of Trustor’s Business) 1. The Trustor may transfer all or part of its business. In connection therewith, the business under the Trust Deed may be transferred. 2. The Trustor may have all or part of its business succeeded by way of subdivision. In connection therewith, the business under the Trust Deed may be subject to such succession.
Article 51 (Action to Be Taken upon Resignation or Removal of the Trustee) 1. The Trustee may resign from its duties by obtaining approval of the Trustor. Upon the occurrence of any breach by the Trustee of its duties or any other material events, the Trustor or beneficiaries may request the court to remove the Trustee. If the Trustee has resigned or has been removed by the court, the Trustor shall appoint a new trustee pursuant to Article 52. 2. If the Trustor fails to appoint a new trustee, the Trustor shall cancel the Trust Deed and terminate the Trust.
Article 52 (Amendments to Trust Deed) 1. The Trustor may amend the Trust Deed upon agreement with the Trustee. In such a case, the Trustor shall previously notify the supervisory authorities of its intention to make amendments and the matters to be amended. 2. If any of such amendments referred to in the preceding paragraph are significant in nature, the Trustor shall previously give public notice of its intention to make amendments and the
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matters to be amended, and shall deliver a written instrument stating these matters to its known beneficiaries of the Trust Deed; provided that no such public notice shall be given in principle if the said written instrument is delivered to all the beneficiaries hereof. 3. Such public notice and written instrument as set out in the preceding paragraph shall state that any beneficiary having an objection may raise its objection against the Trustor within a specified period, which shall not be less than one (1) month. 4. If the number of the beneficial interests of those beneficiaries who have raised their objection within a specified period set out in the preceding paragraph exceeds one-half of the total number thereof, no amendment of the Trust Deed set forth in Paragraph 1 shall be effected. 5. If the Trustor has decided not to amend the Trust Deed under the preceding paragraph, it shall give public notice of its intention not to amend the Trust Deed and the reason therefore, and shall deliver a written instrument stating these matters to its known beneficiaries of the Trust Deed; provided that no such public notice shall be given in principle if the said written instrument is delivered to all the beneficiaries hereof.
Article 53 (Right of Objecting Beneficiaries to Request Repurchase) In the event of the cancellation of the Trust Deed set forth in Article 47 or the amendment to the Trust Deed under the preceding Article being made, those beneficiaries who have raised their objection thereto against the Trustor within a specified period set out in Paragraph 4 of Article 47 or Paragraph 3 of the preceding Article, may request the Trustee to repurchase their beneficial interests with any of the trust assets.
Article 54 (Public Notices) Public notices given by the Trustor to the beneficiaries shall be carried in the Nihon Keizai Shimbun.
Article 55 (Handling of Doubts Arising from Trust Deed) Any doubts arising in connection with the interpretation of the Trust Deed shall be resolved through consultations between the Trustor and the Trustee.
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Supplementary Provision
Article 1 The provisions of Articles 11 and 12 and Articles 15 to 20 and the provisions on beneficiary certificates that can be read as beneficial interests of this Trust Deed as of December 28, 2007 shall continue to be in effect in the event the Trustor issues beneficiary certificates due to unavoidable circumstances.
In witness of the provisions described above, the Trust Deed has been executed by the parties hereto as of the date written below.
December 20, 2001
7-1, Akasaka 9-chome, Minato-ku, Tokyo Trustor: Nikko Asset Management Co., Ltd.
4-5, Marunouchi 1-chome, Chiyoda-ku, Tokyo Trustee: Mitsubishi UFJ Trust and Banking Corporation
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