December 15, 2023
Japan Securities Depository Center, Inc.

Partial Revision of the Rules Regarding Service Fees Applicable to
the Book-Entry Transfer System for Shares, etc.
1. Objective of Revisions
In light of the current environment, including government-led initiatives aimed at proactively causinga shift from saving to investment, such as the introduction of the new NISA from January 2024, we
will revise part of the rules pertaining to service fees applicable to the Book-Entry Transfer System
for Shares, etc. and the Book-Entry Transfer System for Corporate Bonds, etc.
2. Overview of Revisions(1) Partial revision of the Rules Regarding Service Fees Applicable to the Book-Entry Transfer
System for Shares, etc.
i. Account Management Fee (Portion Proportionate to Account Balance)
For Book-Entry Transfer Beneficial Interest in Investment Trust and Book-Entry Transfer
Beneficial Interest, the rate applied to the portion greater than 5 million units will be reduced
from the current ¥0.02 per unit to ¥0.01 per unit.
Book-Entry Transfer Beneficial

Monthly amountPortion greater

Interest in Investment Trustper unit withthan 5 million units

Book-Entry Transfer Beneficial

respect to a

Interestmonthly average

Before

After

¥0.02

¥0.01

account balance
ii. Account Management Fee (Portion Proportionate to the Number of Participant Accounts)
Account Management Fee rates (Portion Proportionate to the Number of Participant
Accounts) will be reduced as in the table below.

Monthly amount per accountwith respect to a monthly
average number of Participant
accounts

BeforeAfter

Portion of 100,000 accounts or less

¥4

¥3.6

Portion greater than 100,000

¥3

¥2.7

accounts but 1 million accounts
units or lessPortion greater than 1 million¥1.8

accounts but 5 million accounts
units or lessPortion in excess of 5 million
accounts
1

¥2
¥0.9

(2) Partial revision of the Rules Regarding Service Fees Applicable to the Book-Entry Transfer
System for Corporate Bonds, etc.
i. New Record Fee (management fee of total balance of the issue) for Beneficial Interest in
Investment Trust
For a New Record Fee (management fee of total balance of the issue) for Beneficial Interest
in Investment Trust, the rate applied to the portion of ¥1,000,000,000 or less will be reduced
from the current ¥0.19 per 10,000 to ¥0.17 per 10,000.
BeforeAfter(1) Portion of¥0.19 per¥0.17 per¥1,000,000,000 or less

10,00010,000(2) Portion more than

80% of the

80% of the¥1,000,000,000 but

rate (1)rate (1)(3) Portion more than

60% of the

60% of the¥5,000,000,000 but

rate (1)rate (1)(4) Portion more than

40% of the

40% of theWith respect to the monthly¥10,000,000,000 but

rate (1)rate (1)average of total issue amount¥50,000,000,000 or lessof each issue for ¥1 each(5) Portion more than

20% of the

20% of the(annualized rate)¥50,000,000,000 but

rate (1)rate (1)(6) Portion more than

10% of the

10% of the¥100,000,000,000 but

rate (1)rate (1)(7) Portion more than

5% of the5% of the¥500,000,000,000 but

rate (1)rate (1)(8) Portion more than

2.5% of

2.5% of¥1,000,000,000,000

the rate (1)the rate (1)¥5,000,000,000 or less

¥10,000,000,000 or less¥100,000,000,000 or less

¥500,000,000,000 or less

¥1,000,000,000,000 or lessii. Account Balance Management Fee for Beneficial Interest in Investment Trust
Regarding Account Balance Management Fee for Beneficial Interest in Investment Trust,
the rate applied to the portion of ¥50,000,000,000 or less will be reduced from the current¥0.065 per 10,000 to ¥0.06 per 10,000.

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BeforeAfter(1) Portion of¥0.065 per¥0.06 yen

¥50,000,000,000 or less

10,000

per 10,000(2) Portion more than

80% of the

80% of the¥50,000,000,000 but

rate (1)rate (1)(3) Portion more than

60% of the

60% of the¥100,000,000,000 but

rate (1)rate (1)(4) Portion more than

40% of the

40% of the¥300,000,000,000 but

rate (1)rate (1)(5) Portion more than

20% of the

20% of the¥1,000,000,000,000 but

rate (1)rate (1)(6) Portion more than

10% of the

10% of the¥3,000,000,000,000 but

rate (1)rate (1)(7) Portion more than

5% of the5% of the¥6,000,000,000,000 but

rate (1)rate (1)(8) Portion more than

2.5% of

2.5% of¥10,000,000,000,000

the rate (1)the rate (1)¥100,000,000,000 or less¥300,000,000,000 or lessWith respect to the monthly
average account balance
for each JASDEC
Participant for ¥1 each(annualized rate)¥1,000,000,000,000 or less

¥3,000,000,000,000 or less

¥6,000,000,000,000 or less

¥10,000,000,000,000 or less

(3) Partial revision of Exceptions to the Rules Regarding Service Fees Applicable to the Book-Entry
Transfer System for Shares, etc. with Respect to Issues Which Have Undergone a Major Share
Split, etc.
In addition to Book-Entry Transfer Shares, these exceptions will also apply to Book-Entry
Transfer Investment Equity, Book-Entry Transfer Preferred Equity Investments, Book-Entry
Transfer Beneficial Interest in Investment Trust, and Book-Entry Transfer Beneficial Interest.
3. Implementation Day
These revisions shall come into effect as of January 4, 2024. However, the above revision in
2. (3) will apply to service fee calculations from July 11, 2023.
This translation is prepared solely for reference purpose and shall not have any binding force. This is an unofficialtranslation and the original Japanese text will be definitive in case of any divergence in the meaning.
Japan Securities Depository Center, Incorporated (JASDEC) shall not accept any responsibility or liability fordamage or loss caused by any error, inaccuracy, misunderstanding or misspelling with regard to this translation.

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