REGALO CAPITAL Co., Ltd.

Professional Investor System

We determine the deadline for the Professional Investor System stipulated by the Financial Instruments and Exchange Law as follows.

The Financial Instruments and Exchange Law establishes the Professional Investor System which classifies customers into "Professional Investor" and "General Investor".
A customer who is a "Professional Investor" shall be exempted from a part of the restrictions (e.g. Duty to deliver documents prior to execution of an agreement) imposed on financial instruments firms like us. （Note 2）
Customers who apply to (2) and (3) of the table below are allowed to shift between "Professional Investor" and "General Investor" by filing a request at us. （Note 3）

＜Professional＞

Professional Investor	(1)Professional Investor	Not allowed to shift to general investor	Japanese Government,Bank of Japan, Qualified Institutional Investors
	(2)Professional Investor	Allowed to shift to general investor	Listed companies,Financial Instruments firms,etc. Business corporations with capital of 500 million yen and more,etc.
General Investor	(3)General Investor	Allowed to shift to professional investor	Corporations other than (1) and (2) above Individuals who meet certain requirements
	(4)General Investor	Not allowed to shift to professional investor	Not allowed to shift to professional investor

Note 1：

This deadline is the one stipulated in No.2 Section 3, Article 34-2 and No.2 Section 2, Article 34-3 of the Financial Instruments and Exchange Act.

Note 2：

A customer who is a "Professional Investor" shall be exempted from the rules stipulated in the Article 45 of the Financial Instruments and Exchange Act.

Note 3：

Shift between "Professional Investor" and "General Investor" shall be approved when we accept a customer´s request after a prescribed procedure.Shift shall be approved by each "Type of Agreement" stipulated in the Article 53 of the Cabinet Office Regulations regarding the Financial Instruments and Exchange Act.