Rules Concerning the Publication of Explanatory
Documents on Status of Business and Property(May 17, 2017)(Purpose)
Article 1 The purpose of the Rules Concerning the Publication of Explanatory Documents onStatus of Business and Property is to increase transparency of business and property of theRegular Members and the Specified Business Members (hereinafter referred to as the “RegularMembers, etc.”) by prescribing the obligation and a method for publicizing a document toexplain the status of business and property of the Regular Members, etc. (the explanatory
documents as prescribed in Article 46-4 of the Financial Instruments and Exchange Act;
hereinafter referred to as the “Explanatory Documents”), thereby contributing to helping an
investment decision by customers and protecting investors.
(Publication Using the Internet)
Article 2 When the Regular Members, etc. prepare the Explanatory Documents, the RegularMembers, etc. must immediately publicize such Explanatory Documents (including the one thatchanges description(s) on the Explanatory Documents pursuant to Paragraph 1 of the following
Article; the same shall apply hereinafter in this Article) by any of the methods prescribed in each
Item below, regardless of whether the Regular Members, etc. have already placed suchExplanatory Documents in their offices or publicized them for public review pursuant to Article
46-4 of the Financial Instruments and Exchange Act.
(1) A method using the Internet such as posting the Explanatory Documents on their website(limited to a method in which that investors can always review them easily);(2) A method to request the Association to post their Explanatory Documents on theAssociation’s website.
2. The Association shall post the Explanatory Documents on its website that is requested to do so by
the Regular Members, etc. pursuant to the preceding Paragraph, Item 2, and take measures toenable the public to review such Explanatory Documents publicized pursuant to Item 1 of thepreceding Paragraph through the Association’s website.
(Change in Descriptions)
Article 3 When the Regular Members, etc. (excluding Large Companies prescribed in Article 2,
Item 6 of the Companies Act; the same shall apply hereinafter in this Article) make a publication
as prescribed in Paragraph 1 of the preceding Article, in the description of “Name of and the
Number of Shares Held by the Top 10 Shareholders in Terms of Holding Volume (hereinafterreferred to as the ‘Top 10 Shareholders’), and the Ratio of Voting Rights Associated with theShares Held by Respective Top 10 Shareholders to the Total Voting Rights” in the Explanatory
Documents, if an individual shareholder meets either of the following conditions (except for
those who are officers and employees of the Regular Members, etc.), the name of such individual
shareholder may be described as “Individual” instead of the “Name” of such individual
shareholder.
(1) An individual shareholder whose voting rights ratio is not included in the range that iscalculated by adding the ratio of each of the Top 10 Shareholders in descending order toreach two-thirds of the total voting rights ratio;(2) An individual shareholder whose voting rights are less than 3% of the voting rights heldby the total shareholders.
2. When the Regular Members, etc. make changes to the descriptions pursuant to the preceding
Paragraph, the Regular Members, etc. must take measures necessary to avoid misunderstandingthat the changed Explanatory Documents would be the same as the original Explanatory
Documents.

Supplementary Provisions
These Rules shall be enforced on June 1, 2017 and apply to the publication of the Explanatory
Documents for the first business term that ends on or after the enforcement date.