Listed Index Fund TOPIX (1308)

July, 2024

Product Description/Investment Objective
The Fund invests in shares of the component stocks in the Tokyo Stock Exchange Price Index (TOPIX) and structures its portfolio in linewith the TOPIX calculation method. As a rule, by maintaining this portfolio 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.

Sector Allocation Top10

Key Facts
Electric Appliances

DomicileJapan

Benchmark Index

TOPIX

Transportation Equipment

Number of Holdings

Wholesale Trade

Product Methodology

2,135
Full Physical Replication

Banks

Rebalance Frequency

AnnualFiscal Year End
Total Net Assets (JPY)8 JulyNAV per 100 Shares (JPY)286,646

PharmaceuticalUse of IncomeServices

Dividend Frequency

DistributingYearly

Information & Communication
Chemicals
Machinery

Last distribution paid

Retail Trade

Management and Trustee Fee (bps)*

The other

Inception Date
Base Currency

11,182,800

million

08 July 2024
No more than 6.8
20 December 2001
JPY
TPXDDVD

Sector Allocations Top10

WeightElectric Appliances

17.14%

Price Index Ticker

TPXBanks

8.31%

ISIN

JP3039100007

Transportation Equipment

7.75%

Bloomberg Ticker

1308 JP Equity

Wholesale Trade

7.50%

Trading Currency

JPY

Information & Communication

7.15%

Round Lot

1

Chemicals

5.72%

Machinery

5.50%

Pharmaceutical

4.79%

Services

4.55%

Retail Trade

4.02%*The above date are the infomation of the Fund. *As percentage of total assets.

Product Performance

Cumulative PerformanceFund(NAV)

Index(Price)

Total Return Index Ticker*Excluding taxes. Please refer to p.2 for more details.

Portfolio Holdings
Top 10 Holdings

Weight

YTD

17.16%

18.08%

Toyota Motor Corporation

3.97%

1 Months-2.44%-0.55%

Mitsubishi UFJ Financial Group,Inc.

2.66%

3 Months

0.09%

1.86%

Sony Group Corporation

2.40%

6 Months

8.67%

9.53%

Hitachi,Ltd.

2.02%

1 Year

20.64%

20.31%

Sumitomo Mitsui Financial Group,Inc.

1.91%

Since Inception182.88%

175.98%Keyence Corporation

1.67%

Tokyo Electron Limited

1.66%

Calendar Year Performance
2023

25.34%

25.09%

Recruit Holdings Co.,Ltd.

1.62%

2022

-4.88%-5.05%

Mitsubishi Corporation

1.62%

2021

10.56%

10.40%

2020

5.11%

4.84%

2019

15.57%

15.21%

Shin-Etsu Chemical Co.,Ltd.
1.54%*The above date are the infomation of the Fund.
*As percentage of total assets.
*The above data are not recomendations of individual stocks.
*The above holdings do not guarantee future holdings.

*The above graph represents past performance and does not guarantee future investment results.
All information is as at 31 July 2024

TOPIXETF05112014E

Listed Index Fund TOPIX (1308)
Performance Chart(Yen)

325,000
300,000
275,000
250,000
225,000
200,000
175,000
150,000
125,000
100,000
75,00050,00025,00001/2002

July, 2024

(2001/12/20 - 2024/7/31)(Bln Yen)

Total Net Assets
Fund(NAV)
Benchmark(Price Index)

1/20041/20061/20081/20101/20121/20141/20161/20181/20201/2022

1/2024*NAV is the price per 100 units after management fees (trust fees) have been deducted.
*Benchmark is Price Index - excluding dividends. Timing difference between distributions of companies and the Fund may cause ashort-term performance dispersion between Fund performance and the Index between end of March and the Fund distribution date.
*The benchmark in the graph is set in accordance with the NAV as of the graph’s starting point.

Overview of Fees & Expenses<Expenses to be borne directly by investors>-Subscription Fee

Distributors may collect from applicants a fee that is determined independently by the Distributors together with an amount equal to theconsumption 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 theinformation, and for the administration activities related to the purchase.

-Exchange Fee

A Distributor may collect from a unitholder a fee that is determined independently by the Distributor together with an amount equal tothe consumption taxes levied on such a fee in the event that the unitholder makes a request for redemption or Units are bought back.
* Please contact your Distributor for further information.
-Amount to be Retained in Trust Assets None-Trading Fee Stipulated by the broker. Please contact your broker for details.

<Costs paid indirectly by the customer for the trust assets (paid from the fund)>-Trust Fee

No more than 0.0748% (or 0.068% without tax). The trust fee (and an amount equal to consumption taxes levied on the trust fee) isdaily recorded and paid out of the trust assets at the end of each calculation period or upon termination of the trust.

-Other Expenses and Fees

Auditing fees, brokerage commissions on securities in the portfolio, expenses for custody of assets in foreign countries, interest onadvances, fees related to the listing of the fund, trademark usage fees for "TOPIX", lending fee (in case security lending is conducted,
the amount obtained by multiplying a lending fee on securities lent by a figure which is a profit for Trust Assets, not exceeding 0.55 (0.5excluding taxes) (0.5 excluding taxes as of the date of the filling of the securities registration statement), and other fees are paid out of
the trust assets each time they are incurred.
*Audit fees are the fee for auditing the fund such as audit companies' fees.
*The figures for items such as the rate and maximum amount cannot be provided in advance 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.*Pease read the delivered pre-agreement document and other relevant materials indetail.

14,00013,00012,00011,00010,000
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0Listed Index Fund TOPIX (1308)

July, 2024Investment Risk
The major risks associated with investment in the Fund are outlined below. Investors should ensure they carefully examine
and understand fully these risks before deciding to subscribe to units of the Fund.

Factors that contribute to fluctuations in the NAV

Investors are not guaranteed the investment principal that they commit. Investors may incur a loss and the value of theirinvestment principal may fall below par as the result of a decline in the market price or the NAV. All profits and losses
arising from investments in the Fund belong to the investors (beneficiaries). This fund is different from saving deposit.
The Fund invests primarily in stocks. The NAV of the Fund may fall and investors may suffer a loss due to a decline in stock
prices or deterioration in the financial conditions and business performance of an equity issuer.
Major risks are as follows:<Price Fluctuation Risk>

Stock prices fluctuate as they are affected by information on the company's growth rate and profitability as well as changes in suchinformation. They also fluctuate as they are affected by 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 or liquidity.

<Liquidity Risk>

The Fund may incur unexpected losses when the size of the market or trading volumes is small. The purchase and sale prices ofsecurities are influenced by trading volume, resulting in the risks that they cannot be traded at prices expected to be realized inlight of the prevailing market trend, sold at the estimated prices, or that the trading volume is limited regardless of the level ofprices.

<Credit Risk>

There is a risk that the Fund will incur material losses in the event of a serious crisis that directly or indirectly affects the businessof a corporation in which the Fund invests. The prices of stocks of issuers may substantially decline (possibly to zero) due to fears
of default or corporate bankruptcy, which can contribute to decline in the Fund NAV.

<Security-lending Risk>

Lending of securities involves counterparty risks, which are the risks of contractual default or cancellation following bankruptcy,etc., by the counterparty. As a result, the Fund may suffer unexpected losses. Following the default or cancellation of a lending
agreement, when liquidation procedures are implemented by using the collateral that is set aside in the lending agreement, theprocurement cost of buying back the securities can surpass the collateral value, due to price fluctuations in the market. In suchcases, the Fund is required to pay the difference, which may cause the Fund to incur losses.

Risks of Discrepancy between the TOPIX and the NAV

The Fund seeks to match the NAV volatility with that of the TOPIX, but it cannot guarantee that movements will be consistent with
the Index for the following reasons:-The Fund may be subjected to a market impact when buying or selling individual stocks as it adjusts its portfolio in response tochanges in the stocks that comprise the TOPIX and capital changes among corporations. In addition, the Fund will incur variousexpenses, including trust fees, brokerage commissions, and audit fees.
- Dividends may be paid by stocks in the portfolio and fees may be earned for securities lent.
- When derivative transactions such as futures are made, there may be disparity between the pricemovements of such transactions
and that of some or all of the constituents of the TOPIX.

Discrepancy between the market prices at which stocks are traded on financial instruments exchanges and the NAV

The Fund is listed on the Tokyo Stock Exchange and the units are traded on that exchange. The market price of the units is affected primarily by thesize of demand for the Fund, its performance, and how attractive it is to investors in comparison with their other investments. It is not possible topredict whether the units will sell in the market above or below the NAV.
* Factors that contribute to NAV fluctuations are not limited to those listed above.

Listed Index Fund TOPIX (1308)

July, 2024

Additional Considerations-These materials are distribution materials created by Nikko Asset Management in order to increase investors' understanding of "ListedIndex Fund TOPIX".
-The provisions stipulated in Article 37-6 of the Financial Instruments and Exchange Act ("cooling-off period") are not applicable to Fundtransactions.
-This Fund differs from deposits or insurance policies in that it is not protected by the Deposit Insurance Corporation of Japan or thePolicyholders Protection Corporation of Japan. Furthermore, units purchased from registered financial institutions, such as banks, areexempted from compensation by the Japan Investor Protection Fund.
-When the Fund faces big redemption causing short term cash requirement or sudden change in the main trading market condition, there
can be temporal decline in the liquidity of holding assets, resulting in the risks that Fund unable to trade securities at the expected market
prices or appraised prices, or encounters limitation in trading volume. This may result in the negative influence on NAV, suspension ofredemption applications, or delay in making payment of redemption.
-When applying to invest in the Fund, please make the decision to invest carefully after taking the time to read the delivered prospectus
and other relevant materials in detail.

Copyright and Other Rights of the "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 theindex 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 theuse of the TOPIX mark or trademark, and as to the TOPIX index value on any particular day.
-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 calculation or 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 withrespect to the Fund.
-JPX does not consider the needs of Nikko Asset Management or the Fund's purchasers in the component stocks or calculation ofthe TOPIX index values.
-Notwithstanding anything stated above, JPX shall not be liable for any damages arising out of the creation, sale and promotion ofUnits in the Fund.

Nikko Asset Management Co., Ltd.
Director of Kanto Local Finance Bureau (Financial instruments firms) No.368
Associations in which a Member: The Investment Trusts Association, Japan, The Japan Investment Advisers Association