Decision-Making Process

Decision-Making System

As an asset management company under the Act on Investment Trusts and Investment Corporations that is entrusted with asset management by the Investment Corporation, the Asset Manager prepares, in line with the Articles of Incorporation, asset management guidelines to stipulate basic approaches to investment management, such as the investment policy, rules on transactions with interested parties regarding acquisition and sale of assets, etc. and the disclosure policy.

In addition, The Asset Manager prepares asset management plans, etc. in accordance with the management guidelines, and selects assets in which to invest and decides on acquisition of such in accordance with the investment policy and rules on prevention of conflicts of interest provided in the management guidelines.

Decision-Making Process

• When transacting (acquiring or transferring real estate or securities, or leasing) with interested persons under the Act on investment Trusts and Investment Corporations, approval by the Board of Directors of the investment Corporation is required except for certain cases.

Note that a proposal shall be returned to the proposing department when examination by the Compliance Officer or deliberation by the Investment Committee, Compliance Committee or Board of Directors results in approval not being obtained. In addition, for agenda resolved at a meeting of the Investment Committee, Compliance Committee or Board of Directors, parties having special vested interest shall not be eligible to exercise voting rights on the concerned resolved agenda.