< Disclaimer for the English Overview of
the Delivery Prospectus of Listed Index Fund TOPIX>
This document provides an overview of the Japanese “Summary Prospectus” (the“Delivery Prospectus”) of Listed Index Fund TOPIX (the “Fund”) in English. The
Japanese Delivery Prospectus is the offering document. This document in English
is not required by law or any regulation.
While every effort has been made to ensure the accuracy or completeness of thecontent of this document, Nikko Asset Management Co., Ltd. cannot guarantee
the accuracy or completeness as differences of interpretation may arise between
the English and Japanese languages. In the event of any inconsistency between
this document in English and the Japanese version, the Japanese version shallprevail, except to the extent prohibited by the applicable law of any jurisdiction
where the units of the Fund are sold. In addition, this document is not a translationof the entire Delivery Prospectus, but an English overview of the Delivery
Prospectus, which means that some of the information in the Delivery Prospectus
has been simplified, modified, or omitted.
Except as otherwise indicated herein, this material is based on the most recent
Japanese version of the Delivery Prospectus. 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
document.
This English overview of the Delivery 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 thisdocument, as this is not a full translation of the original Delivery Prospectus. As
this English document may differ from the Japanese Delivery 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 thesesecurities (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 AssetManagement Co., Ltd.

1

Explanatory Booklet
on the Investment Trust(English Overview of the Delivery Prospectus)
April 9, 2024

Listed Index Fund TOPIX
Nickname: JoJo TOPIX
Open-end Investment Trust, Domestic, Equities, ETF, Index Type
This document is not a translation of the entire Delivery Prospectus, but an English overview
of the Delivery Prospectus, which means that some of the information in the Delivery
Prospectus has been simplified, modified, or omitted.

●This prospectus is published pursuant to the provisions of Article 13 of the Financial
Instruments and Exchange Act (No. 25 of 1948).
Please read this document carefully before deciding to subscribe to units of theFund.
●The prospectus for the Fund provided under Article 15, Paragraph 3 of the
Financial Instruments and Exchange Act (hereinafter referred to as the"Prospectus Issued upon Request") can be read or downloaded from thewebsite of the Management Company. You can also obtain a copy of the Prospectus
Issued upon Request from a Distributor. If you do so, please make a personal record to that
effect.
●This document includes the main contents outlined in the trust deeds. The complete textof the trust deeds is provided in the Prospectus Issued upon Request.
●For information on the NAV or Distributors of the Fund, please contact the Management
Company.
Management Company (the party issuing investment instructions for the Fund)
Nikko Asset Management Co., Ltd.
Registration Number: Director of the Kanto Local Financial Bureau (Financial instruments
firms) No. 368
Website: www.nikkoam.com/+813-6447-6653 (9 a.m.-5 p.m., excluding Saturdays, Sundays and public holidays)
Trustee (the party responsible for custody and management of Fund assets)
Mitsubishi UFJ Trust and Banking Corporation

Established and managed by

Nikko Asset Management Co., Ltd.
2 When a significant amendment is made to the content of the Fund, we will confirm theintention of investors (beneficiaries) in advance under the Act on Investment Trust andInvestment Corporations (No. 198 of 1951).
 The Fund assets are classified and managed by the Trustee under the Trust Act (No. 108
of 2006).
 In connection with the invitation for subscription to Listed Index Fund TOPIX, which isextended by way of this prospectus, the Management Company filed a securities
registration statement with the Director-General of the Kanto Local Finance Bureau on
April 8, 2024 pursuant to the provisions of Article 5 of the Financial Instruments andExchange Act. The filing became effective on the next business day after the filing date.

Product Classification
Unit Type/
Open-end
Investment
Trust
Open-end

Segmentation by Attribute

Eligible
MarketEligible
Investments(Source ofIncome)Independent
Segment

Domestic

Equities

ETF

Supplementary
EligibleClassification Investments
Index type

Equities inGeneralTiming of
Accounting
PeriodGeographicalAreas ofInvestment

Index
Followed

Annually

Japan

TOPIX

Please refer to The Investment Trusts Association, Japan website for definitions of product classification and segmentation by
attribute at https://www.toushin.or.jp/.

Management Company Details

Name:
Nikko Asset Management Co., Ltd.
Date of establishment:
December 1, 1959
Capital:17,363.04 million yen
Total net asset value of investment trust assets under management: 28,894.6 billion yen(As of the end of January 2024)

3

Objective and Characteristics of the Fund
Objective of the Fund
The Fund invests in shares of the component stocks in the Tokyo Stock Price Index (TOPIX) andstructures its portfolio in line with the TOPIX calculation method. As a rule, by maintaining thisportfolio structure, the Fund seeks to achieve a high level of linkage between the NAV and the
movements of the index.
* TOPIX, which covers Japanese stock market widely, is a market benchmark having a function as
an investment target and calculated based on the aggregate market value of component issues after
free float adjustment. The calculation method bases the aggregate market value as of the close on
January 4, 1968 at 100, and expresses subsequent aggregate market values as index values.
The continuity of the index is ensured by adjusting the aggregate market value for paid-in capitalincreases, new listing, delisting, etc. to eliminate the impact of fluctuations in the market
capitalization resulting from non-market factors. TOPIX is Japan’s leading index and is wellrecognized abroad.

TOPIX =

Market capitalization at the time of calculation (in yen)
Market capitalization on the base date (in yen)×100

Copyrights and Other Rights of TOPIX• The TOPIX index value and the TOPIX mark or trademark are intellectual property of JPX Market Innovation &Research, Inc. or its affiliates (hereinafter, “JPX”). All rights and know-how concerning the TOPIX , including its
calculation, publication and use of the index values, as well as all rights concerning the TOPIX mark or trademark
belong to JPX.
• JPX may change the methods of, or suspend, the calculation or publication of the TOPIX index value.
Furthermore, it may change the TOPIX mark or trademark or suspend use thereof.
• JPX does not guarantee or make any representation as to any results obtained in connection with the TOPIX
index value and the use of the TOPIX mark or trademark, and as to the TOPIX index value on any particularday.
• JPX does not guarantee the accuracy or completeness of the TOPIX index values or any data contained
therein. Furthermore, JPX is not liable for any errors, delays or interruptions in connection with the calculationor publication of the TOPIX index values.
• This Fund is not offered, guaranteed or distributed by JPX.
• JPX is under no obligation to provide investors in the Fund or the general public with information or any
investment advice with respect to the Fund.
• JPX does not consider the needs of Nikko Asset Management or the Fund's purchasers in the component
stocks or calculation of the TOPIX index values.
• Notwithstanding anything stated above, JPX shall not be liable for any damages arising out of the creation,
sale and promotion of Units in the Fund.

4

Characteristics of the Fund
While the Fund is a contractual-type investment trust, it is structured differently fromordinary investment trusts with respect to the following points:



Units are listed on Tokyo Stock Exchange and can be traded at any time
during trading hours.
 Units may be traded in blocks of 1 unit (as of the date when the securities
registration statement was filed).
 Brokers determine brokerage commissions.
 The method of trading is generally the same as that for stocks.
* Please contact your broker for further information.

Units are subscribed by delivering stocks.
The integer multiple for subscription units are set by dividing the market value ofthe units stock valuation by the NAV of the day on which the subscription is
accepted (rounded up to the nearest 100 units).
*“The Units” are all the stocks designated by the management companies for each name in the
TOPIX (Tokyo Stock Price Index) universe.
* Units may be subscribed using Clearing Service offered by the Financial Instruments Clearing
Institution.

Units may not be redeemed for cash before maturity with a request for
exchange.

Units may be exchanged for stocks.
*The TOPIX component stocks selected upon subscription do not necessarily fully match thestocks selected upon exchange.*The number of Units created upon subscription does not necessarily match the number of units
required upon exchange.
*Units may be exchanged using Clearing Service offered by the Financial Instruments Clearing
Institution.

* ”Clearing Service offered by the Financial Instruments Clearing Institution” is a scheme to guarantee theexecution of settlements by the Financial Instruments Clearing Institution assuming obligation of securities
pertaining to subscription and exchange of ETF.

Investment Restrictions


There is no restriction on the investment ratio in stocks.



The Fund does not invest in assets denominated in foreign currencies.

The Fund invests mainly in shares of the component stocks of TOPIX. However, this does not
apply to stocks that are acquired through shareholder allotments.

Distribution Policy
・ As a general rule, the full amount of dividends and other income arising from the trust assets is
distributed after deduction of expenses.
*There is no guarantee on the payment or the amount of dividend.

5Investment Risks
Please refer to “Matters to Consider” on our website below for the related risk.

https://en.nikkoam.com/etf/1308-topix

Past Performance
Please refer to “Net Asset Value and Performance” on our website below for the past performance.

https://en.nikkoam.com/etf/1308-topix

6Procedures, Fees, and Other Items
 Subscription Memorandum
Subscription
Units

The integer multiple for subscription units are set by dividing the units stock
valuation by the NAV of the day the subscription is accepted (rounded up to thenearest 100 units).

Subscription
Price

The NAV as of the day on which the subscription is accepted.

Subscription
MethodSubscriber may apply for Units by delivering stocks in accordance with theprocedures specified by the respective Brokers.
*Units may be subscribed using Clearing Service offered by the Financial
Instruments Clearing Institution.

Request for
Redemption

Requests for redemption will not be accepted.

Request for
Exchange

Units may be exchanged for stocks.
*Units may be exchanged using Clearing Service offered by the Financial
Instruments Clearing Institution.

Exchange Units

In principle, an exchange will be accepted in a multiple of units which isequivalent to the minimum number of units as specified by the Management
Company.
*The minimum number of units for exchange will be a number of units the
management company believes will correlate to the TOPIX on the day of theexchange that is equivalent to the total market value of the component stocks of
the TOPIX on the day of the exchange equaling the total of the number of units
in question multiplied by the NAV on the day of the exchange as specified by the
management company.

Exchange Price

The NAV on the day the exchange is accepted.

Exchange
Proceeds

As a rule, stocks that belong to trust assets will be delivered from the third
business day after and including the day on which a request for an exchange is
made.

Request for
Buyback

A beneficiary may ask a Distributor to buyback his or her Units in cases where
the total number of Units owned is less than the minimum-trading unit for the
Units established by the financial instruments exchange.

Business Hours
for Subscription
and Exchange

As a rule, applications for subscriptions and exchanges that are completed by 3
p.m. on the days Distributors are open for business are deemed to have been
accepted on that day. It must be pursuant to the procedures established by theDistributor.

Subscription
PeriodFrom April 9, 2024 to October 8, 2024
*The subscription period can be renewed by filing another securities registration
statement prior to the expiration date shown above.

7

Non-acceptanceDays for
Subscription

Applications for subscription will not be accepted on the following days:
1) For a period of three business days, beginning one business day prior to theex-right day (excluding the ex-dividend day) of any TOPIX component stocks.
2) For a period of six business days, beginning three business days prior to thedate on which TOPIX component stocks are changed or the total number of theirshares changes due to a capital increase or decrease.
3) For a period of two business days, beginning two business days prior to theaccounting date. (For a period of three business days, beginning three days prior
to the accounting date when the accounting date falls on non-business day.)4) For a period of five business days immediately preceding the termination of
the trust, in the event that the Fund terminates the trust.
5) In addition to the days referred to in 1) through 4) above, any time theManagement Company determines that unavoidable circumstances may prevent
it from making investment in accordance with the basic policies set forth in thetrust deed.

Non-acceptanceDays forExchanges

Requests for exchanges will not be accepted on the following days:
1) For a period of three business days, beginning one business day prior to theex-right day (excluding the ex-dividend day) of any TOPIX component stocks.
2) For a period of six business days, beginning three business days prior to thedate on which TOPIX component stocks are changed, or the total number of theirshares and units changes due to a capital increase or decrease.
3) For a period of two business days, beginning two business days prior to theaccounting date. (For a period of three business days, beginning three days prior
to the accounting date when the accounting date falls on non-business day.)4) For a period of five business days immediately preceding the termination of
the trust, in the event that the Fund terminates the trust.
5) In addition to the days referred to in 1) through 4) above, any time theManagement Company determines that unavoidable circumstances havedeveloped that may prevent it from investing in accordance with the basic policies
set forth in the trust deed.

Suspension orCancellation of
Subscription,
Exchange or
Buyback
Applications

The Management Company may suspend acceptance of applications forsubscription or requests for exchanges, or cancel applications for subscriptions
or requests for an exchange that have already been accepted in the event thattrading on a financial instruments exchange is suspended, settlement functions
are halted, it determines that there is a possibility that investments in accordancewith the basic investment policies set forth in the trust deed will be hindered, or
circumstances beyond their control develops.

Trust Term

Unlimited (launch date: December 20, 2001)

Early
Termination

Early termination is possible in any of the following cases: If the number of Units of the Fund falls below 3,000,000.
 If the Units are delisted from all the financial instruments exchanges on which
they have been listed.
 If the TOPIX is discontinued.
 If any amendment to the trust deed deemed necessary by the Management
Company or Trustee as a result of a change in the calculation method orsimilar of the TOPIX is not accepted by a written resolution.

Closing of
Account

On July 8th of each year8

IncomeDistribution

Dividends are paid once a year in accordance with the following income
distribution policy:.
*In general, the Trustee will pay to beneficiaries their income distribution by wiretransfer on the day specified by the Management Company but within 40 days ofthe end of each calculation period in the bank account designated in advance by
the beneficiary. When a beneficiary has signed a separate agreement with his or
her broker in connection with the treatment of income distribution, payment will
be made pursuant to the provisions of such agreement.

Maximum
Amount of Trust
Money

Equivalent to 30 trillion yen

PublicNotification

Published in The Nikkei.

Investment
Reports

As defined in the Act on Investment Trust and Investment Corporations,investment reports are not prepared and published.

Tax Treatment

For tax purposes, the Fund is treated as a Special Equity Investment Trust.
Publicly-offered Equity Investment Trusts are eligible for the Nippon Individual
Savings Account (NISA) if they meet certain requirements under the tax law.
The Fund is eligible for the "Growth Quota (Specific Tax Exemption
Management Account)" under the NISA, but the handling may differ dependingon the distributor. Please contact your distributor for details.
 The dividends received deduction will apply.
 As a general rule, the system excluding dividends from gross revenue will apply.

9

There is additional information on this page that does not appear on the original Japanese
Delivery Prospectus.

 Fund Expenses and Taxes
Fund Expenses

Expenses to be borne directly by investors
Subscription
Fee

Independently set by Distributors* Please contact your Distributor for further information.
* Subscription Fee is compensation for explanation and information providing about
the Fund or investment environment, and is also including expense of clerical
processing of the subscription.

Exchange(Buyback) Fee

Independently set by Distributors* Please contact your Distributor for further information.
* Exchange Fee is compensation for clerical processing of the exchange.

Amount to be
Retained in
Trust Assets

None.

Costs paid indirectly by the customer for the trust assets (paid from the fund)
TER(TotalExpenseRatio)

0.1243% (TER includes Trust Fee, management fee and other costs below)※ This represents the actual TER for the period of July 11, 2022 - July 7, 2023.

No more than 0.0748%(0.068% excluding taxes) per annum of the daily total
NAV of the Fund
 The investment management fee is daily recorded and paid out of the trust assets at
the end of each calculation period or at the time of termination of the Trust.

<Distribution of Investment Management Expenses(annual rate)>
as of the date of filing of the securities registration statement
Investment Management Expenses(Trust fee)
=NAV of investment period × Trust fee rate

Investment
Management
Expenses(Trust fee)

Asset Under
Management
The portion up to 5
trillion yen
The portion morethan 5 trillion yen up
to 7.5 trillion yen
The portion morethan 7.5 trillion yen
up to 10 trillion yen
The portion morethan 10 trillion yen
Management
Company

Total

Management
Company

Trustee0.068%

0.040%

0.028%

0.044%

0.034%

0.010%

0.038%

0.028%

0.010%

0.032%

0.023%

0.009%

Compensation for investment management

Compensation for administration of assets
under management and execution of orders
from Management Company*Figures are excluding tax. Consumption tax will be added.
Trustee10OtherExpensesand Fees

Auditing fees, brokerage commissions on securities in the portfolio, expenses for custodyof assets in foreign countries, interest on advances, fees related to the listing of the fund,trademark usage fees for “TOPIX”, lending fee (in case security lending is conducted, theamount obtained by multiplying a lending fee on securities lent by a figure not exceeding
0.55(0.5 excluding taxes) (0.5 excluding taxes as of the date of the filing of the securities
registration statement)), and other fees are paid out of the trust assets each time they are
incurred.
* Auditing fee is an expense paid to audit firm for auditing of the Fund
* The figures for items such as the rate and maximum amount cannot be provided inadvance as they fluctuate in line with investment performance and other factors.

The total amount of expenses of the Fund to be borne by investors varies according to holding lengthand investment status, and thus cannot be shown.

11

Tax Treatment
Tax treatment for individual investors
1) Taxation upon sale of Units Gains on sale (capital gains) are deemed to be income from transfer and thus have to be filed
to declare for separate taxation at 20.315%. When a beneficiary has chosen a designatedaccount with tax withholding (an account with tax withholding at the taxpayer’s option), tax will
be withheld at source at 20.315%. (As a rule, tax filing is not necessary.)2) Taxation upon receipt of income distributions
 Income distributions are regarded as dividend income, and tax is withheld at source at
20.315%. (As a general rule, tax filing is not necessary.) You can also file a tax return, andchoose either separated taxation, based on declaration, or consolidated taxation (under which
the dividends received deduction is available).
3) Exchanges between Units and shares of stocks
 Exchanges of Units for stocks are treated as transfers of Units and are handled as selling ofUnits.
- By filing a tax return, you can offset losses upon sale (capital losses) against capital gains fromlisted stocks, dividends etc. from listed stocks, and interest income from public and 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 publicand corporate bonds etc. (if separated taxation has been chosen upon declaration) can beoffset against capital losses from listed stocks and such like.
- When investing through the Nippon Individual Savings Account (NISA), dividend income andtransfer income from newly purchased publicly offered equity investment trusts are exempt fromtaxation for an unlimited period up to a certain amount each year. The tax exemption is available
only to those who meet certain conditions, such as opening a tax-exempt account with a
distributor, and who purchase products that meet the requirements of the tax law. For details,
please contact the distributor.
- In cases of being applied to the foreign tax deduction, tax on distributions may differ from theaforementioned descriptions.
- The aforementioned descriptions do not apply to Japanese corporations.
- Above tax rates are as of the date when the securities registration statement was filed, so those
may change in the event that tax laws are revised. We recommend that investors consult a tax
or similar specialist for details of tax treatment.

1213