Article 44-4Restriction on Granting Credit by Underwriters

If a financial instruments business operator that has become an underwriter of securities sells those securities (in the case of a financial instruments business operator that conducts the act specified in Article 2, paragraph (6), item (iii), the securities acquired by exercising share options prescribed in that item), it must not lend money or otherwise grant credit for the purchase price to the purchaser of the securities until six months have elapsed since the day on which the financial instruments business operator became an underwriter.