Guidelines for Notifying Total Return of Investment Trusts
Established on September 18, 2013

1. Provisions and Supplementary Provisions of the “Regulations for Direct Offering, etc. of Beneficiary Certificates, etc.”
Provisions and Supplementary Provisions of the Regulations

Guidelines

Article 10-2
Notification of Profit or Loss of Investment Trusts
A Full Member must notify customers of profit or loss (referred to as “Total
Return” in the Bylaws) relating to an investment trust managed by the Full
Member (meaning an investment trusts managed under instructions from thesettlor and investment trusts managed without instructions from the settlor;
the same shall apply hereinafter in this article) through entries or records in atransfer account book as set forth in the By-laws.

- Specific contents concerning the notification of Total Return of investment trusts are set
forth in the By-laws, and such By-laws are also part of the “Regulations for Direct
Offering, etc. of Beneficiary Certificates, etc.”- These Guidelines, on the other hand, summarize the practical treatment and considerations
regarding the notification of the Total Return of investment trusts.

Supplementary ProvisionThis amendment shall come into effect from December 1, 2014, and apply toinvestment trusts newly purchased by customers on or after suchenforcement date.

- For investment trusts newly purchased by customers on or after the effective date of the
Revised Regulations (December 1, 2014), the Total Return shall be notified.
Therefore, from the effective date of the Revised Regulation, accumulation of data to becontained in the Total Return notification must begin (the effective date of the Revised
Regulations is not the date of commencing the notification).
For example, a company whose base date of calculation is December 31 needs to give an
initial notification of Total Return on any investment trust newly purchased by acustomer between December 1, 2014 (the effective date of the Revised Regulations) and
December 31, 2014.
- In the event that a customer purchases the same investment trust held by such customer
prior to the effective date of the Revised Regulations again after such effective date(additional purchases), the Total Return may not be accurately calculated, and therefore
the notification of Total Return for such purchase is not required, and may be determinedat the discretion of each Full Member (see below). However, the Total Return shall be
notified for any investment trust newly purchased (new purchase) after the effective dateof the Revised Regulations.
- The handling of investment trusts held by customers prior to the enforcement date of the
Revised Regulations shall be determined by each Full Member to act on its own
initiative. However, for investment trusts newly purchased by customers after the date ofrevision concerned with the Regulations (September 18, 2013), the Full Members shallendeavor to notify the Total Return of the relevant investment trusts. In the event that itis difficult to go back to the date of revision of Regulations with respect to thenotification requirement, each Full Member shall designate a practical date for the
response and endeavor to notify a customer of the Total Return of investment trust newly-1-

Provisions and Supplementary Provisions of the Regulations

Guidelines
purchased by the customer after such designated date.
- With regard to investment trusts purchased prior to the date of revision of the Regulations,
it is desirable that each Full Member actively works to implement such changes to an
extent possible after examining the necessity of any change from the existing notification
currently in place and the size thereof as well as the possibility and ease of integrating
past data, the cost required for such integration, and so on.
- With regard to the treatment of investment trusts held by customers prior to theenforcement date of the Revised Regulations, rather than treating all investment trusts ina uniform manner, each Full Member may designate different dates subject to the new
notification provision according to the types of investment trusts; e.g., distribution type,reinvestment type, monthly distribution type, and so on.

2. By-laws of the Regulations for Direct Offering, etc. of Beneficiary Certificates, etc.
(1) Scope of subject investment trusts
Contents of the By-laws

Guidelines(i) Notification of the Total Return shall be given for those investment
trusts where the public offering of securities (as defined in Article 2,
Paragraph (3) of the Financial Instruments and Exchange Act; (Act No.
25 of 1948; hereinafter referred to as the “FIEA”)) was conductedamong all investment trusts (meaning investment trusts as defined in
Article 10-2 of the Regulations; the same shall apply hereinafter), which
are managed by Full Members through entries or records in a transfer
account book.
(ii) Notwithstanding (i) above, the following investment trusts may be
excluded from the requirements for the Total Return notification.
(a) An investment trust that was being traded on the Financial Instruments
Exchange Market at the time of the customer’s purchase- The By-laws shall apply to publicly offered investment trusts but not to privately placed
investment trusts.

(b) Investment trusts purchased by a customer as investment assets under adiscretionary investment contract (meaning contracts as defined in
Article 2, Paragraph (8), Item (xii) (b) of the FIEA)(c) Investment trusts listed in the provisions of Article 65, Item (ii) (a)through (c) of the Cabinet Office Ordinance on Financial Instruments
Business, etc. (Cabinet Office Ordinance No. 52 of 2007)- The so-called ETF (Exchange Traded Fund) and listed REIT (Listed Real Estate
Investment Trust) may be excluded.
- When the investment trust was listed at the time of purchase by a customer, such trust
may continue to be excluded from the notification requirement even if such trust isdelisted thereafter.
- Investment trusts held under the so-called SMA, Wrap Account, etc. may be excluded
from the scope of application.
- The so-called MRF and MMF may be excluded.

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Guidelines(d) Bond investment trusts (meaning investment trusts as defined in Article
13, Item (ii) (a) or (c) of the Ordinance for Enforcement of the Act on
Investment Trusts and Investment Corporations (Cabinet Office
Ordinance No. 129 of 2000))- Since foreign investment trusts are not included in the provisions, foreign public andcorporate bond investment trusts cannot be excluded from the scope of application.

(e) Umbrella investment trusts (meaning an investment trust managed as asingle fund combining multiple sub-funds under management), which
satisfy all of the following requirements.
a. Funds that include two or more of sub-funds among those actively
investing in derivative products for other purpose than hedging and tobe linked either positively (bull-type fund) or negatively (bear-typefund) (including those aiming a positive or negative correlation of acertain multiple) to various indices, assets, etc., according to theirinvestment trust contracts, etc.; sub-funds that are provided for tofunction as temporary reserve fund to ensure the stable management(money pool fund)b. Funds where switching between sub-funds is possible (including subfunds other than those described in a. above ; the same shall apply toc. below)c. Funds that do not include sub-funds that make distributions more than
twice a year(f) Investment trusts and the so-called Million Investment Trusts that are
deemed to be a savings contract under the workers’ property
accumulation savings system (as defined in Article 6; Paragraphs (1),(2), and (4) of the Workers’ Property Accumulation Promotion Act (ActNo. 92 of 1971)) and for which the amount of deposit, etc. shall be
notified periodically (as provided for in Article 13-20 of Enforcement
Order for the Workers’ Property Accumulation Promotion Act (Cabinet
Order No. 332 of 1971))(g) Investment trusts purchased using funds contributed by a defined
contribution pension plan (meaning a defined contribution pension as
defined in Article 2, Paragraph 1 of the Defined Contribution Pension
Act (Act No. 88 of 2001))(h) Investment trusts for which a purchase agreement has not beenconcluded between the relevant Full Member and the customer
Provided, however, that investment trusts succeeded as result of amerger between Full Members or a company split shall be handled as
described in (iii) below.

- The so-called bull-bear fund often has a money pool fund under the umbrella as reserve
fund, and all sub-funds under the same umbrella including such money pool fund may be
excluded from the scope of application.
However, with respect to all umbrella investment trusts that hold any sub-fund that makes
distributions more than twice per year in addition to the bull-bear fund, all sub-funds are
subject to the Total Return notification.
Also, any investment trust consisting solely of a bull-type fund (or solely of a bear-typefund) is subject to the notification requirement of Total Return.

- Investment trusts acquired as a result of inheritance by, or transferred from othercompanies (including a transfer as result of business transfer) to the relevant customer,
may be excluded from the scope of application because such customer has not made apurchase at the relevant member company. However, the market price, etc. on the date of
their receipt into such customer’s account may be applied as the purchase price for the
purpose of Total Return notification.

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Guidelines(i) Investment trust transferred between the accounts held by the same
member company- In the event of a transfer from a tax-exempt account (NISA account) to a taxable accountor a transfer between the accounts held by the same member company, investment trust
after such transfer may be excluded from the scope of application.
- Even if the customer makes an additional purchase, it may be excluded from the scope of
application as long as such customer continues to hold such investment trust for morethan ten (10) years since the initial purchase.
- At its own discretion, a Full Member may elect to notify the Total Return of suchinvestment trust held for more than ten (10) years. In this case, it is not necessary tofollow the methods set forth in the By-laws concerning the calculation and notification.
- In the event of a merger or a company split, the successor company is considered to takeover the customers’ information, but on the assumption that it may be difficult to takeover such information due to differences in the systems used, etc., it is accepted that themarket price, etc. on the date of receipt shall be used as the purchase price, or that theaccumulated distribution received prior to such receipt may be excluded from thecalculation of the Total Return.

(j) Investment trust held by a customer for more than ten (10)consecutive years(iii) Notification of the Total Return for investment trusts held by customers
that have been succeeded as a result of a merger between Full Members ora corporate split shall be provided by the surviving company or the
successor company.
In this case, notification of the Total Return shall be given for the entire
period during which the customer holds such investment trust. However, if
it is difficult to transfer the relevant data, the purchase price may be
determined by applying the market price, etc. on the date of receipt of suchinvestment trust into the customer’s account, or the accumulated
distribution received prior to such receipt may be excluded from thecalculation of the Total Return.

- With regard to the handling of (1) Scope of subject investment trusts, (i) through (iii)
above, an environment shall be established so that customers can understand such
handling (see (iii) under (6) Contents of notification).

(2) Scope of subject customers
Contents of the By-laws

Guidelines

Individual customers (excluding professional investors).
However, Professional investors and corporate customers may be included.

(3) Method of calculating the Total Return
Contents of the By-laws(i) The Total Return shall be the amount calculated using the following
formula:(“(a) Appraisal value” +“ (b) Cumulative distribution amount received” +“(c) Accumulated sales proceeds”) − “(d) Accumulated purchase amount”

Guidelines- Total Return shall be expressed in monetary amounts (not in a percentage).
- The means of calculating the Total Return for various types of investment trusts are as
follows:(a) Umbrella Investment Trust (excluding those falling under (1) Scope of subject
investment trusts, (ii)(e))-4-

Contents of the By-laws

Guidelines
Calculate the Total Return for each sub-fund.
(b) Where a customer holds the same investment trust both in a distribution account andin a reinvestment account:Any of the following shall be acceptable:(i) calculate the Total Return separately for the distribution account and thereinvestment account or(ii) calculate the Total Return by combining those held in the distribution accountand the reinvestment account.
(c) Where a customer holds the same investment trust in multiple accounts
When a customer holds the same investment trust in multiple accounts such as bothin a tax-exempt account (NISA account) and a taxable account, or both in a specified
account and a general account, any of the following shall be acceptable;(i) calculate the Total Return for each account or(ii) calculate the Total Return by combining those held in multiple accounts.
[Note 1] Investment trusts held in tax-exempt accounts (NISA accounts) are also subject
to the Total Return notification.
[Note 2] In case of transfer from a tax-exempt account (NISA account) to a taxable
account, such investment trust transferred may be excluded from the Total Returnnotification (see (1) Scope of subject investment trusts, (ii)(i)).
(d) Where a customer holds the same investment trust at multiple business offices or
through multiple sales channels (sales channel through face-to-face transactions,Internet transactions, etc.)
Any of the following shall be acceptable:(i) calculate the Total Return for each business office or each sales channel, or(ii) calculate the Total Return by combining all the holdings of the same investment
trust purchased at multiple sales offices or through multiple sales channels.
(e) Where the beneficiary certificates of an investment trust are split or consolidated, or
the investment trust is merged with another investment trust while being held by acustomerIf beneficiary certificates are split or consolidated during the period held by acustomer, the Total Return for the entire holding period of such customer shall becalculated, not after such split or consolidation.
Where investment trust is merged with another investment trust while being held by acustomer, the Total Return shall be calculated for the newly merged investment trust.
In this case, it is accepted to use the market price, etc. on the date of receiving the
newly established investment trust as the purchase price, or to exclude the cumulative
distribution amount received made by the former investment trust from the calculationof the Total Return.
- With regard to the handling of instances described in above (a) through (e), an
environment shall be established so that customers can understand such handling (see (6)Contents of notification, (iii)).

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Contents of the By-laws(ii) The numerical value for each factor in the calculation formula forinvestment trusts shall be derived as follows:(a) Appraisal value shall be obtained by evaluating all units of theinvestment trust held by the relevant customer on the base date ofcalculation.
Appraisal value = [Base value on the base date of calculation] ×[Number of units held on the base date ofcalculation] / [Calculation unit](Note) The Redemption value may be used in lieu of the base value.
(b) Cumulative distribution amount received means sum of the distribution
payments received (after tax) by the relevant customer during his/herholding period of the relevant investment trust. However, reinvested
amount of any distribution from the reinvestment-type investment trust
shall not be included.
Cumulative distribution amount received = [Cumulative sum of
distribution payments received]
Distribution payments received = [Distribution payment for theperiod (distribution amount per unit × number ofunits held)] − [Tax on distribution for the period](Note 1) Reinvested amount of the reinvestment account may be includedin the cumulative distribution amount received. Provided, however,
the reinvested amount shall also be included in the accumulated
purchase amount.
(Note 2) Distribution payments received may be used on a pre-tax basis.
(c) Accumulated sales proceeds mean the total sales amount received by
the customer as a result of partial sale(s) of his/her holdings during theholding period of the relevant investment trust.
Accumulated sales proceeds = [Cumulative sum of sales proceeds]
Sales proceeds = [Redemption value] × [Number of units to be sold] /[Calculation unit] − [Redemption fee] − [Consumption tax onredemption fee](d) Accumulated purchase amount means the cumulative sum of amounts
used to purchase the relevant investment trust. However, reinvested
amount of any distribution from the reinvestment-type investment trust
shall not be included.
Accumulated purchase amount = [Cumulative sum of purchaseamounts]
Purchase amount = [Contract Price (Base value × Number of units
purchased / Calculation unit)] + [Sales commission] + [Consumption
tax on sales commission](Note) When reinvested amount of the reinvestment account is includedin the cumulative distribution amount received, such reinvestment

Guidelines- The redemption value means the amount obtained by deducting the amount retained in thetrust from the base value.
- The formula for calculating the distribution amount for the current period is fordemonstration only, and other formula may be used.
- The distribution payment received need not be the same as the so-called settlement
amount at the time of payment of the distribution.

- The sales proceeds may not be the same as the so-called settlement amount at the time ofredemption.
- The redemption value means the amount obtained by deducting the amount retained in thetrust from the base value.

- Purchase amount means the so-called settlement amount at the time of purchase.
- With regard to investment trusts for which customers pay fees and expenses other thansales commissions at the time of purchase, the purchase amount may be calculated
including such fees, expenses, and consumption tax thereon.

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shall also be included in the accumulated purchase amount.
(iii) For investment trusts denominated in foreign currencies, the Total Returnshall be calculated in the currency (foreign currency) pertinent to suchinvestment trusts. However, the Total Return may also be calculated on a
yen basis.

Guidelines- Either of following methods is acceptable: (i) calculating and notifying the Total Returns
in a currency denominated (foreign currency), (ii) calculating and notifying the Total
Returns on a yen basis, or (iii) calculating and notifying the Total Returns in bothcurrencies (yen and relevant foreign currency).
- For treatment of (3) Method of calculating the Total Return, (i) through (iii), an
environment shall be established so that customers can understand such treatment (see(6) Contents of notification, (iii)).

(4) Method of notification
Contents of the By-laws

Guidelines(i) Notification of the Total Return shall be made by any of the followingmeans;(a) delivery of documents,(b) transmission using a facsimile machine,(c) transmission via email (meaning email as prescribed in Article 2, Item(i) of the Act on Regulation of Transmission of Specified Electronic
Mail (Act No. 26 of 2002)),(d) transmission via the Internet or any other telecommunication line.

- Since specific methods of the notification are not set forth in the By-laws, each Full
Member may notify their customers in such a manner judged to be appropriate, forexample, by enclosing the Total Return notification with other documents, sending such
notification alone, etc.
- The method of displaying on the exclusive screen for each customer of the web page
(screen displayed after the login) falls under the method described in (d).

(ii) If notification of the Total Return is provided via a method set forth in (b)through (d) of (i) above, the prior consent of the relevant customer shall beobtained for using the said method to provide notification of the Total
Return. However, customers who have already agreed to receive otherdocuments via electromagnetic means may be notified in advance of thefact that the notification of the Total Return will be delivered via suchmeans in lieu of consent.

- The method of the Total Return notification for each customer may be changed, forexample, from the method of “(a) delivery of documents” to “(d) Transmission via theInternet or other telecommunication line.” In this case, however, it is necessary tochange the notification method after obtaining a customer consent and complying with
the notification procedures in accordance with the provisions of (ii) and (iv) of (4)Method of Notification for each notification method.
- Although any means of obtaining a consent (oral, written, facsimile, email or on the
exclusive screen for each customer of the web page, etc.) may be accepted, prior consent
from the customer shall be obtained concerned with the notification to be given in themanner set forth in (i)(b) through (d) of (4) Method of notification (e.g., transmission
using email). In the event that notification is given by the mean set forth in (4) Methodof notification, (i)(d), it may be considered that consent has been obtained by sending awritten notice to the customer informing that the Total Return will be notified throughthe display on the exclusive screen for the customer on the website unless the customer
requests in writing such notification to be given in the manner of documents delivery (asset forth in (4) Method of notification, (i)).
- “Electromagnetic means”" means “Electromagnetic Means” as defined in Article 56,
Paragraph (1) of the Cabinet Office Ordinance on Financial Instruments Business, etc.
- When applying (4) Methods of notification, (i)(d) above, a written notification to obtainthe consent mentioned above (or a written notification in lieu of the consent in the provisoof the left column) and a written notification provided for in (4) Methods of notification,-7-

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Guidelines(iv) may be combined.

(iii) Notwithstanding the provision of (i) above, until November 30, 2017, aFull Member may notify its customers of Total Return by responding toinquiries received from such customers regarding their Total Returns. In
this case, the method of notification of the Total Return may be oral or anyof the methods set forth in (a) through (d) of (i) above.
(iv) When notifying a customer of the Total Return in the manner set forth in(i),(d) above or pursuant to the provision of (iii) above, a Full Member
shall send a written notification that the customer can receive the Total
Return notification in such electromagnetic means before such customer
becomes able to receive the notification by such means. However, any
customer who has already given consent to receive other documents byelectromagnetic means may be notified by such means in lieu of written
notification (the same shall apply to the notification provided for in (6)Contents of notification, (ii) below.).

- When giving the notification on the exclusive screen for each customer of the company
website or by replying to inquiry from a customer, advance notice in writing, etc. to thecustomer is required.
- The phrase “before such customer becomes able to receive the notification by suchmeans” means until the Total Return is transmitted to the customer through the Internet
or other telecommunication line (as stipulated in (4) Method of notification, (i)) or until
the customer is able to make an inquiry for the Total Return (as stipulated in (4) Methodof notification, (iii)).
- “Electromagnetic means”" means “Electromagnetic Means” as defined in Article 56,
Paragraph (1) of the Cabinet Office Ordinance on Financial Instruments Business, etc.
- The consent and notification as stipulated in (4) Method of notification, (ii) or (iv) may berendered before the effective date of the Revised Regulations.

(5) Frequency of notification and base date of calculation
Contents of the By-laws

Guidelines(i) Notification of the Total Return as provided for in (4) Method of
notification, (i) above shall be given at least once a year. In this case, thebase date of calculation for the Total Return shall be determined by each
Full Member, and the Total Return of the investment trust held bycustomers on such base dates shall be notified to the relevant customers.

- The base date of calculation shall be determined at the discretion of each Full Member.
- Different notification frequencies and base dates of calculation may be applied subject tothe types of sales channels; e.g., face-to-face transaction, the Internet customers, etc. Or,
customers may be divided into several groups in consideration of administrative works,etc. required in relation to the notification, and the base date of calculation may be set foreach group.
- In addition to the Total Return of investment trust held by customers on base date ofcalculation, the Total Return of investment trust totally sold by customers during therelevant calculation period (from the day following the previous base date of calculation
to the current base date of calculation) can be notified.
- The Regulations stipulate that the frequency of the notification shall be not less than once ayear. However, in consideration of customers’ needs, it is desirable for each Full Member
to take a more proactive approach to the frequency of notification (e.g., to give
notification at the same frequency as that of the transaction balance statement, or to give
the Total Return notification once a year but give the latest calculated Total Return wheninquired by a customer by calculating such Total Return every month).
- Regarding the method of displaying the Total Return on the exclusive screen for eachcustomer of the company website, the Total Return shall be calculated at least once a-8-

Contents of the By-laws(ii) When providing notification in accordance with (4) (iii) above, the Total
Return shall be calculated at least once per year and the most recently
calculated Total Return shall be notified.

Guidelines
year. In this case, care should be given so as not to cause the customer any
misunderstanding by clearly indicating on such screen, etc. the base date of calculation.
As for the contents of notification including the base date of calculation, see (6) Content
of Notification, (i).
- Where the Total Return is notified as a response to a customer inquiry, the Total Returnshall be calculated at least once a year as stipulated in the Regulations. In this case, thecustomers shall be informed of the base date of calculation in order not to cause them any
misunderstanding. As for the contents of notification including the base date of calculation,see (6) Content of Notification, (i) and (ii).

(6) Content of notification
Contents of the By-laws

Guidelines(i) The Total Return notification shall include the following items:(a) Name of the relevant investment trust;(b) Base date of calculation;(c) Appraisal value;(d) Cumulative distribution amount received and accumulated sales
proceeds (notification of the total amount of receipts, which is the sumof both, is acceptable.);(e) Accumulated purchase amount;(f) Amount of Total Return;(g) Calculation formula of Total Return;(h) Statement to the effect that the amount stated in the document may not
be used for calculating taxes; and(I) Other matters deemed necessary by the Full Members.

- Regardless of the means as provided for in (i)(a) thorough (d) of (4) Method of
notification, it is necessary to give the notification of Total Return on the matters listed in
the left column:- With regard to the terms used in (a) through (h) in the left column such as “Appraisal
value,” “Cumulative distribution amount received,” “Accumulated sales proceeds,”“Accumulated Purchase Amount,” “Total Return,” any terms other than those used in (a)through (h) in the left column may be used in the notification. However, the numericvalue (monetary amount) of the notification must be calculated in accordance with theprovisions of (3) Method of calculating the Total Return of the By-laws.
- Examples of notification are as follows:<Example>
Base date of calculation: YYYY/MM/DD
Name of Investment
Trust
XX Investment Trust
Accumulated
Purchase Amount[D]
XXX YenAppraisal value [A]Cumulative
Distribution Amount
Received [B]
XXX YenXXX YenTotal Return [A + B + C −D]

Accumulated Sales
Proceeds [C]XXX YenXXX Yen* The amount in this table cannot be used for tax calculation purpose such as for tax return.
[Note] The Cumulative distribution amount received [B] and the accumulated sales proceeds[C] may be combined as the Accumulated amount received.
- The obligation to keep the past history (cross-section) in the system and the notification
document is optional, and the obligation to safekeep the history of the Total Returnnotified in the past is not provided in the Regulations.

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Guidelines(ii) Notwithstanding (i) above, in the case of oral response to the inquiry as
described in (4)(iii), if the customer has been notified in advance inwriting concerned with matters described in (i), (g), and (h) above, theFull Member may notify matters described in (i), (a), (b), and (f) above as
well as other matters deemed necessary by such Member.

- The prior written notification set forth on the left column may be given in electromagnetic
means in lieu of a written document to customers who have already given a consent to theprovision of other documents by such manner (see (4) Methods of notification, (iv)).
- When responding to an inquiry from a customer at the discretion of a Full Member
concerned with the Total Return by other means than those listed in (4) Method of
notification, (a) through (d), it is desirable to state “(a) Name of Investment Trust,” “(b)Base date of calculation,” and “(f) Amount of Total Return.”- The matters considered as the “scope of investment trusts subject to notification of Total
Return” are, for example, as follows:(i) Inform customers of the investment trusts that are subject to the notification (orinvestment trusts not subject to the notification including those that can be excluded
from the notification requirement under the By-laws).
(ii) Inform customers of from when any new purchase is subject to the notification (e.g.,statement to the effect that investment trusts purchased on or after DD/MM/YY are
subject to the notification.).
[Note] If the Total Return notification is given for all investment trusts held by a customer
including those purchased by the customer prior to the effective date of the Revised
Regulations (limited to those investment trusts subject to the Total Returnnotification requirement), it is not necessary to provide the customer with theenvironment as defined in (ii) above.
- The matters to be considered as the “the basis of each calculation factor in the calculation
formula of the Total Return” are, for example, as follows:(iii) With regard to the notification of the Total Return, an environment must
be maintained in which customers can understand the scope of investment
trusts subject to the notification of the Total Return and the basis of eachcalculation factor in the calculation formula for the Total Return.

Formula factors
Appraisal value
Cumulative
distribution
amount received
Accumulated sales
proceeds
Accumulated
purchase amountBasis- Calculated based on the base value (or redemption value).
- Calculated on an after-tax basis (or before-tax basis).
- Details of any special treatment, if any, such as excluding any
distribution made before the transfer of accounts in the case of suchtransfer- Calculated after the deduction of commissions, etc.
- Fees, etc. are included in the calculation.
- Details of any special treatment, if any such, as applying a market
value at the time of account transfer in the case of such transfer- Following are examples of an environment where the customers can understand the scopeof investment trusts subject to the Total Return notification and the basis of eachcalculation factor in the calculation formula of the Total Return (hereinafter collectively
referred to as the “Scopes, etc. for Total Return”)(i) Describe the Scopes, etc. for Total Return in the notification of the Total Return.
(ii) When giving the notification through transmission over the Internet or any othertelecommunication line, the Scopes, etc. for Total Return may be displayed on thescreen of the web page.

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Guidelines(iii) Before or at the time of notifying the customer of the Total Return for the first time,
send a written document describing Scopes, etc. for Total Return.
(iv) Scopes, etc. for Total Return may be displayed on the Member’s website and the
Total Return notification may include the web page address displaying such Scopes,
etc. for Total Return, and the statement to the effect that document describing such
Scopes will be sent to a customer if requested by the customer.
[Note] Regarding Scopes, etc. for Total Return, it is not necessary to inform the customersof all matters in the uniform manner, and any of the methods in (i) through (iv) above
may be combined as appropriate. It is also acceptable to combine any of the methods in(i) through (iv) above according to each customer.
- Care should be taken to use easy-to-understand terms for customers in notifying them of
the Scopes, etc. for Total ReturnEnd.

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