一national government bonds;

二municipal bonds;

三debentures issued by a corporation pursuant to a special Act (excluding those set forth in the following item and item (xi));

四specified corporate bonds prescribed in the Act on the Securitization of Assets (Act No. 105 of 1998);

五corporate bond certificates (including those issued by a mutual company; the same applies hereinafter);

六investment securities issued by a corporation incorporated pursuant to a special Act (excluding those set forth in the following item, item (viii) and item (xi));

七preferred equity investment certificates prescribed in the Act on Preferred Equity Investment by Cooperative Financial Institutions (Act No. 44 of 1993; hereinafter referred to as the "Act on Preferred Equity Investment");

八preferred equity securities and securities indicating a right to subscribe for preferred equity which are prescribed in the Act on the Securitization of Assets;

九share certificates and share option certificates;

十beneficiary certificates of an investment trust or foreign investment trust which are prescribed in the Act on Investment Trusts and Investment Corporations (Act No. 198 of 1951);

十一investment securities, investment equity subscription right certificates, or investment corporation bond certificates or foreign investment securities prescribed in the Act on Investment Trusts and Investment Corporations;

十二beneficiary certificates of loan trusts;

十三beneficiary certificates of special purpose trusts prescribed in the Act on the Securitization of Assets;

十四beneficiary certificates of beneficiary certificate-issuing trusts prescribed in the Trust Act (Act No. 108 of 2006);

十五promissory notes specified by Cabinet Office Order which have been issued by a corporation in order to raise the funds necessary for business;

十六mortgage securities prescribed in the Mortgage Securities Act (Act No. 15 of 1931);

十七instruments or certificates issued by a foreign country or foreign person, and which have the nature of the instruments and certificates set forth in items (i) through (ix) or item (xii) through the preceding item (excluding those specified in the following item);

十八instruments or certificates which are specified by Cabinet Office Order, which are issued by a foreign person, and which indicate a beneficial interest in a trust that holds the loan claims of a person operating in the banking business or a person otherwise providing money loans on a regular basis, or indicate any other similar rights;

十九instruments or certificates that indicate the right to a transaction specified in paragraph (21), item (iii) which is conducted on a financial instruments market, in accordance with the standards and means prescribed by the person operating the financial instruments market, right to a transaction that is conducted on a foreign financial instruments market (meaning a foreign financial instruments market provided for in paragraph (8), item (iii), (b); hereinafter the same applies in this item) and which is similar to the transaction specified in paragraph (21), item (iii) (excluding those associated with financial instruments (limited to those listed in paragraph (24), item (iii)-3) or financial indexes (limited to the prices of the relevant financial instruments and the figures calculated based thereon)), or the right to a transaction specified in paragraph (22), item (iii) or (iv) which is conducted in neither a financial instruments market nor a foreign financial instruments market (such rights are hereinafter referred to as "options");

二十instruments or certificates which the person with whom instruments or certificates set forth in the preceding items has been deposited issues in a state other than the state in which the deposited instruments or certificates were issued, and which indicate a right to the deposited instruments or certificates; and

二十一instruments or certificates other than those set forth in the preceding items, which are specified by Cabinet Order as those with regard to which, in consideration of transferability and other factors, it is found to be necessary to ensure the public interest or the protection of investors.

一a beneficial interest in a trust (excluding a beneficial interest that must be indicated on the beneficiary certificates of an investment trust specified in item (x) of the preceding paragraph and a beneficial interest that must be indicated on securities set forth in any of items (xii) through (xiv) of that paragraph, and a beneficial interest which falls under Article 2, paragraph (5), item (iii) or (iv) of the Payment Services Act and is specified by Cabinet Order as a beneficial interest that is found not to compromise the public interest or the protection of investors even if it is not deemed to be securities);

二rights that are claimable against a foreign person and which have the nature of the rights specified in the preceding item (excluding rights that must be indicated on the beneficiary certificates of a foreign investment trust specified in item (x) of the preceding paragraph and rights that must be indicated on securities set forth in item (xvii) or item (xviii) of that paragraph);

三the membership rights of a general partnership company or limited partnership company (limited to rights specified by Cabinet Order) or membership rights of a limited liability company;

四the membership rights of a foreign corporation which have the nature of rights specified in the preceding item;

五among the rights based on a partnership contract provided for in Article 667, paragraph (1) of the Civil Code (Act No. 89 of 1896), a silent partnership agreement provided for in Article 535 of the Commercial Code (Act No. 48 of 1899), a limited partnership agreement for investment provided for in Article 3, paragraph (1) of the Limited Partnership Act for Investment (Act No. 90 of 1998), or a limited liability partnership agreement provided for in Article 3, paragraph (1) of the Limited Liability Partnership Act (Act No. 40 of 2005), membership rights in an incorporated association or other rights (excluding rights based on foreign laws and regulations) the holder of which (hereinafter referred to as an "equity holder" in this item) can receive dividends of profits arising from business that is conducted using the money (including anything specified by Cabinet Order as being similar to money) invested or contributed by the equity holder (such business is hereinafter referred to as "business subject to investment" in this item) or a distribution of the assets of the business subject to investment, which do not fall under any of the following categories (excluding rights that must be indicated on securities set forth in the items of the preceding paragraph and rights deemed to be securities pursuant to the provisions of this paragraph (excluding this item)):

イrights of an equity holder in cases specified by Cabinet Order as those in which all of the equity holders participate in the business subject to investment;

ロrights of an equity holder, if it is provided that equity holders will not receive dividends of profits or a distribution of the assets of the business subject to investment in an amount exceeding the amount invested or contributed by them (excluding rights set forth in (a));

ハrights based on an insurance contract in which a person that engages in the insurance business prescribed in Article 2, paragraph (1) of the Insurance Business Act (Act No. 105 of 1995) is the insurer, a mutual aid contract concluded with a cooperative prescribed in Article 4 of the Agricultural Co-operatives Act (Act No. 132 of 1947) which engages in the services prescribed in Article 10, paragraph (1), item (x) of that Act, a mutual aid contract concluded with a cooperative prescribed in Article 4 of the Consumer Cooperatives Act (Act No. 200 of 1948) which engages in the mutual aid services prescribed in Article 10, paragraph (2) of that Act, a mutual aid contract concluded with a cooperative prescribed in Article 2 of the Fishery Industry Cooperative Act (Act No. 242 of 1948) which engages in the services prescribed in Article 11, paragraph (1), item (xii), Article 93, paragraph (1), item (vi)-2 or Article 100-2, paragraph (1), item (i) of that Act, a mutual aid contract concluded with a cooperative prescribed in Article 3 of the Small and Medium-Sized Enterprise Cooperatives Act (Act No. 181 of 1949) which engages in the mutual aid services prescribed in Article 9-2, paragraph (7) of that Act, or a specified joint real estate venture contract prescribed in Article 2, paragraph (3) of the Act on Specified Joint Real Estate Ventures (Act No. 77 of 1994) (excluding one concluded with the special enterprise operator prescribed in paragraph (9) of that Article and one under which the rights based on the relevant specified joint real estate venture contract are indicated as a financial value (limited to one that is recorded on an electronic device or any other such object by electronic means) that can be transferred by using an electronic data processing system) (excluding rights set forth in sub-item (a) and (b)); or

ニrights other than those set forth in (a) through (c), which are specified by Cabinet Order as rights in connection with which there is found to be no compromise to the public interest or to the protection of equity holders even if the rights are not deemed to be securities;

六rights based on foreign laws and regulations which are similar to those specified in the preceding item; or

七rights other than specified electronically recorded monetary claims and the rights set forth in the preceding items, which are specified by Cabinet Order as rights in connection with which it is found that, in consideration of their economic nature being similar to securities prescribed in the preceding paragraph and rights set forth in the preceding items and in consideration of other circumstances, it is necessary and appropriate to ensure the public interest or the protection of investors, by deeming these rights to be securities.

一cases specified by Cabinet Order as those in which the solicitation for acquisition is issued (unless the solicitation is issued only to professional investors) to a large number of persons (other than qualified institutional investors (meaning persons specified by Cabinet Office Order as having expert knowledge of and experience with investment in securities; the same applies hereinafter), if qualified institutional investors are included in the persons to which the solicitation for acquisition is issued, and the solicitation for acquisition constitutes a case specified by Cabinet Order as one in which there is little likelihood of the relevant securities being transferred from the qualified institutional investor that acquires them to any person other than a qualified institutional investor);

二cases in which the solicitation for acquisition is other than as specified in the preceding item, and in which it does not fall under any of the following:

イa solicitation for acquisition issued only to qualified institutional investors and constituting a case specified by Cabinet Order as one in which there is little likelihood of the relevant securities being transferred from the person that acquires them to any person other than a qualified institutional investor; and

ロa solicitation for acquisition issued only to professional investors and falling under all of the following requirements (excluding the cases specified in (a)):

（１）in the case where the other party to the solicitation for acquisition is a person other than the State, the Bank of Japan, and a qualified institutional investor, a financial instruments business operator, etc. (meaning a financial instruments business operator, etc. prescribed in Article 34; the same applies in the following paragraph, Article 4, paragraph (1), item (iv) and paragraph (3), Article 27-32-2, and Article 27-34-2) conducts the solicitation for acquisition upon entrustment from a customer or for itself;

（２）the relevant securities fall under a case specified by Cabinet Order as one in which there is little likelihood of them being transferred from the person that acquires them to a person other than a professional investor, etc. (meaning a professional investor or a non-resident (meaning a non-resident prescribed in Article 6, paragraph (1), item (vi) of the Foreign Exchange and Foreign Trade Act (Act No. 228 of 1949), limited to a person specified by Cabinet Order); the same applies hereinafter).

ハa solicitation for acquisition falling under neither the case specified in the preceding item, nor (a) and (b) of this item (except if the solicitation for acquisition meets the requirements that are specified by Cabinet Order in consideration of the status, etc. of the issuance and solicitation of securities of the same class as the relevant securities), and constituting a case specified by Cabinet Order as one in which there is little likelihood of the relevant securities being held by a large number of persons;

三cases specified by Cabinet Order as those in which, in response to the solicitation for acquisition, a considerably large number of persons will come to hold the securities connected with the solicitation.

一cases specified by Cabinet Order as those in which the solicitation for selling, etc. is made (unless the offer is made only to professional investors) to a large number of persons (other than qualified institutional investors, if qualified institutional investors are included in the persons to which the solicitation for selling, etc. is made, and if the solicitation for selling, etc. constitutes a case specified by Cabinet Order as one in which there is little likelihood of the relevant securities being transferred from the qualified institutional investor that acquires them to any person other than a qualified institutional investor);

二cases in which the solicitation for selling, etc. is other than as specified in the preceding item, and in which it does not fall under any of the following:

イa solicitation for selling, etc. made only to qualified institutional investors and constituting a case specified by Cabinet Order as one in which there is little likelihood of the relevant securities being transferred from the person that acquires them to any person other than a qualified institutional investor;

ロa solicitation for selling, etc. made only to professional investors and falling under all of the following requirements (excluding the cases specified in (a)):

（１）in the case where the other party to the solicitation for selling, etc. is a person other than the State, the Bank of Japan, and a qualified institutional investor, a financial instruments business operator, etc. conducts the solicitation for selling, etc. upon entrustment from a customer or for itself;

（２）the relevant securities fall under a case specified by Cabinet Order as one in which there is little likelihood of them being transferred from the person that acquires them to a person other than a professional investor, etc.

ハa solicitation for selling, etc. falling under neither the case specified in the preceding item, nor (a) and (b) of this item (except if the solicitation for selling, etc. meets the requirements that are specified by Cabinet Order in consideration of the status, etc. of the issuance and solicitation of securities of the same class as the relevant securities), and constituting a case specified by Cabinet Order as one in which there is little likelihood of the relevant securities being held by a large number of persons;

三cases specified by Cabinet Order as those in which, in response to the solicitation for selling, etc., a considerably large number of persons will come to hold the securities connected with the offer.

一acquires all or part of the relevant securities with the aim of having other persons acquire them;

二concludes a contract stipulating that if no person acquires all or part of the relevant securities, the underwriter will acquire the remaining securities;

三concludes a contract, in the event that the relevant securities are share option certificates (including the securities specified by Cabinet Office Order as being equivalent thereto; hereinafter the same applies in this item), stipulating that if the person that has acquired the share option certificates does not exercise the share options (including the rights specified by Cabinet Office Order as being equivalent thereto; hereinafter the same applies in this item) associated with all or part of those share option certificates, the underwriter will acquire the share option certificates associated with the unexercised share options and that it or a third party will exercise them.

一the purchase and sale of securities (excluding those falling under the category of derivatives transactions; the same applies hereinafter), market derivatives transactions (excluding market derivatives transactions associated with financial instruments (limited to those listed in paragraph (24), item (iii)-3) or financial indexes (limited to the prices of those financial instruments and the figures calculated based on the prices) (hereinafter referred to as "commodity-related market derivatives transactions")) or foreign market derivatives transactions (excluding the purchase and sale of securities falling under item (x));

二intermediation, brokerage (excluding brokerage for clearing of securities, etc.), or agency for the purchase and sale of securities, market derivatives transactions, or foreign market derivatives transactions (excluding intermediation, brokerage, or agency for the purchase and sale of securities which falls under item (x));

三intermediation, brokerage, or agency for entrustment of the following transactions:

イthe purchase and sale of securities or market derivatives transactions on a financial instruments exchange market;

ロthe purchase and sale of securities or foreign market derivatives transactions on a foreign financial instruments market (meaning a market in a foreign country which is similar to a financial instruments exchange market; the same applies hereinafter);

四over-the-counter derivatives transactions or intermediation, brokerage (excluding brokerage for clearing of securities, etc.), or agency for them (hereinafter referred to as "over-the-counter derivatives transactions, etc.");

五brokerage for clearing of securities, etc.;

六the underwriting of securities (meaning doing any of the things set forth in an item of paragraph (6) at the time of a public offering, secondary distribution, private placement of securities, or solicitation for selling, etc. only for professional investors);

七the public offering or private placement of securities (limited to those set forth in the following items):

イbeneficiary certificates of investment trusts specified in paragraph (1), item (x) which are connected to the beneficial interest in an investment trust managed under instructions from the settlor provided for in Article 2, paragraph (1) of the Act on Investment Trusts and Investment Corporations;

ロbeneficiary certificates of foreign investment trusts specified in paragraph (1), item (x);

ハsecurities specified in paragraph (1), item (xvi);

ニsecurities specified in paragraph (1), item (xvii) which have the nature of securities specified in item (xvi) of that paragraph;

ホrights that must be indicated on the securities specified in (a) or (b) above, or rights that must be indicated on the securities under (c) or (d) above which are specified by Cabinet Office Order, which are deemed to be securities pursuant to paragraph (2);

ヘrights specified in paragraph (2), item (v) or item (vi) which are deemed to be securities pursuant to that paragraph; and

トthe securities other than those set forth in (a) through (f) which are specified by Cabinet Order;

八secondary distribution of securities or solicitation for selling, etc. only for professional investors;

九the handling of a public offering or secondary distribution of securities, or the handling of a private placement of securities or solicitation for selling, etc. only for professional investors;

十the purchase and sale of securities or intermediation, brokerage, or agency for it, using an electronic data processing system, conducted through any of the following methods for deciding the trading price or other similar methods, with a large number of persons participating simultaneously as parties on one side of the transaction or as parties on both sides of the transaction (excluding those specified by Cabinet Order as transactions that are found to be inappropriate in terms of investor protection if conducted outside a financial instruments exchange market or an over-the-counter securities market (meaning an over-the-counter securities market provided for in Article 67, paragraph (2))):

イby auction (but only if the trading volume of securities satisfies the criteria specified by Cabinet Order);

ロfor securities listed on a financial instruments exchange, by using the trading price of the securities on the financial instruments exchange market that is operated by the relevant financial instruments exchange;

ハfor securities registered under Article 67-11, paragraph (1) (hereinafter referred to as "over-the-counter traded securities"), by using the trading price of the securities which is published by the authorized financial instruments firms association to which the securities are registered;

ニby using the price decided by negotiation between the customers; and

ホmethods other than those set forth in (a) through (d), which are specified by Cabinet Office Order;

十一conclusion of a contract in which one of the parties promises to provide the other party with oral, written (excluding newspapers, magazines, books, or any other written work that is issued for sale to many and unspecified persons and which many and unspecified persons can buy as needed), or any other form of advice about the following things, and the other party promises to pay remuneration for this (such a contract is hereinafter referred to as an "investment advisory contract"), and provision of advice under such investment advisory contract:

イthe value, etc. of securities (meaning the value of securities, the amount receivable for options on securities (meaning the right to conduct a transaction provided for in Article 28, paragraph (8), item (iii), (c) on a financial instruments market in accordance with the standards and means prescribed by the person operating the financial instruments market, the right to conduct a transaction similar to the transaction provided for in Article 28, paragraph (8), item (iii), (c) on a foreign financial instruments market, or the right to conduct a transaction set forth in item (iv), (c) or (d) of that paragraph without using a financial instruments market or foreign financial instruments market), and the movement of securities indicators (meaning the price or interest rate of securities and anything else specified by Cabinet Office Order as being equivalent thereto, or figures calculated based thereon)); or

ロinvestment decisions (meaning decisions on the classes, issues, volumes, or prices of securities targeted for investment, as well as whether the securities are purchased or sold and by what method and at what timing, and decisions on what should be the content and timing of any derivatives transactions that are conducted; the same applies hereinafter) based on an analysis of the values, etc. of financial instruments (meaning the value of financial instruments (in the case of those listed in paragraph (24), item (iii)-3, limited to those listed on a financial instruments exchange), amount receivable for options, and trends of financial indexes (in the case of those associated with the financial instruments set forth in that item, limited to those listed on a financial instruments exchange); the same applies hereinafter);

十二conclusion of the following contracts, and the management of money or any other property (including instructions for that management; the same applies hereinafter), based on such contract, as an investment in securities or in rights connected with derivatives transactions, based on investment decisions that are grounded in an analysis of the values, etc. of Financial Instruments:

イan entrustment contract for the asset management provided for in Article 188, paragraph (1), item (iv) of the Act on Investment Trusts and Investment Corporations, concluded with a registered investment corporation as defined in Article 2, paragraph (13) of that Act; or

ロa contract other than what is set forth in (a), in which one of the parties is fully or partly entrusted by the other party with the discretion to make investment decisions based on an analysis of the values, etc. of financial instruments, and is also entrusted with the authority necessary to make investments on behalf of the other party based on such investment decisions (such a contract is hereinafter referred to as a "discretionary investment contract");

十三agency or intermediation for the conclusion of an investment advisory contract or a discretionary investment contract;

十四the management (excluding management that falls under the category of act set forth in item (xii)) of money or other property contributed by a person that holds rights indicated on the securities specified in paragraph (1), item (x) or other rights specified by Cabinet Order, as an investment in securities or in rights connected with derivatives transactions, based on investment decisions that are grounded in an analysis of the values, etc. of financial instruments;

十五the management (excluding management that falls under the category of act set forth in item (xii) or the preceding item) of money or other property invested or contributed by a person that holds the following rights or other rights specified by Cabinet Order, as an investment mainly in securities or in rights connected with derivatives transactions, based on investment decisions that are grounded in an analysis of the values, etc. of financial instruments:

イrights indicated on the securities specified in paragraph (1), item (xiv) or securities specified in item (xvii) of that paragraph (limited to those that have the nature of the securities specified in item (xiv) of that paragraph);

ロrights set forth in paragraph (2), item (i) or (ii); or

ハrights set forth in paragraph (2), item (v) or (vi);

十六the acceptance of deposits of money, the instruments or certificates set forth in the items of paragraph (1), or electronically recorded transferable rights from customers, in connection with an act set forth in items (i) through (x) of this paragraph (in the case of conducting the acts set forth in item (ii), (iii) or (v) in connection with commodity-related market derivatives transactions, including acceptance from the customer of deposits of commodities (meaning those set forth in paragraph (24), item (iii)-3; hereinafter the same applies in this item), or instruments or certificates issued in connection with the deposited commodity in relation to these acts);

十七the transfer of bonds, shares, etc. in response to the opening of an account in order to carry out a transfer of the bonds, shares, etc. defined in Article 2, paragraph (1) of the Act on Book-Entry Transfer of Corporate Bonds and Shares (Act No. 75 of 2001); or

十八acts specified by Cabinet Order as being similar to the acts set forth in the preceding items.

一intermediation for the purchase and sale of securities (excluding intermediation set forth in paragraph (8), item (x));

二the intermediation set forth in paragraph (8), item (iii);

三the act set forth in paragraph (8), item (ix); or

四the intermediation set forth in paragraph (8), item (xiii).

一a transaction comprising a purchase and sale in which the parties promise to deliver and take delivery of a financial instrument and its value at a fixed time in the future, which the parties may settle by delivering and taking delivery of the difference in values if they sell or buy back the underlying financial instrument;

二a transaction comprising the parties' promises to pay and receive an amount of money calculated based on the difference between the numerical value of a financial index upon which the parties agree in advance (hereinafter referred to as the "agreed figure") and the actual numerical value of the financial index at a fixed time in the future (hereinafter referred to as the "actual figure");

三a transaction comprising the first party's promise to grant the second party the option of effecting any of the following transactions between them by a unilateral manifestation of the second party's intention alone, and the second party's promise to pay the value of that option:

イthe purchase and sale of financial instruments (excluding a transaction provided for in item (i)); or

ロa transaction provided for in any of the preceding two items or in the following item to item (vi) (including any transaction designated by the financial instruments exchange that is equivalent to a transaction specified in the preceding item or item (iv)-2);

四a transaction comprising the parties' mutual promise that, for the amount of money they have set as the principal, the first party will pay money to the second based on the rate of change in the interest rate, etc. (meaning the interest rate or any other rate specified by Cabinet Office Order as being equivalent to interest rate; the same applies hereinafter) of an agreed-upon financial instrument (excluding those set forth in Article 2, paragraph (24), item (iii) and item (iii)-3) or based on the rate of change in an agreed-upon financial index (excluding interest rates, etc. of financial instruments (excluding those set forth in Article 2, paragraph (24), item (iii) and item (iii)-3) and figures calculated based on them; hereinafter the same applies in this item and item (v) of the following paragraph) during the period they have agreed to, and the second party will pay money to the first based on the rate of change in the interest rate, etc. of an agreed-upon financial instrument (excluding those set forth in these items) or based on the rate of change in an agreed-upon financial index during the period they have agreed to (including transactions in which the parties promise that, in addition to paying those amounts, they will also pay or deliver and receive money or financial instruments equivalent to the amount they have set as the principal);

四の二transactions wherein the parties mutually promise that, for the financial instruments (limited to those listed in paragraph (24), item (iii)-3; hereinafter the same applies in this item) of the quantity the parties have agreed to, one of the parties will pay the amount of money calculated based on the rate of change in the agreed period of a financial index associated with the financial instruments agreed with the other party, and the other party will pay the amount of money calculated based on the rate of change in the agreed period of the financial index agreed with the former party;

五a transaction comprising the first party's promise to pay money to the second, and the second party's promise to pay money to the first if any of the following causes that the parties have stipulated in advance occurs (including transactions comprising the first party's promise to transfer a financial instrument, the rights connected to a financial instrument, or a monetary claim (other than a claim that constitutes a financial instrument or the rights connected to a financial instrument), but excluding transactions set forth in item (ii) to the preceding item):

イa cause involving the credit status of a corporation or other similar causes specified by Cabinet Order; or

ロa cause on whose occurrence it is impossible or extremely difficult for either party to exert an influence, and which is specified by Cabinet Order as a thing that may have a material impact on the business activities of the parties or other business persons or firms (excluding causes specified in (a));

六transactions similar to a transaction set forth in the preceding items and specified by Cabinet Order.

一a transaction comprising a purchase and sale in which the parties to the purchase and sale promise to deliver and take delivery of a financial instrument (other than one set forth in paragraph (24), item (iii)-3 and item (v); the same applies in item (iii) and item (vi)) and its value at a fixed time in the future, and which the parties may settle by delivering and taking delivery of the difference in values if they sell back or buy back the underlying financial instrument or if they take other actions specified by Cabinet Order;

二a transaction comprising the parties' promises to pay and receive an amount of money calculated based on the difference between the agreed figure (excluding a figure of a financial index associated with the financial instruments set forth in paragraph (24), item (iii)-3 or item (v)) and the actual figure (excluding a figure of a financial indicator associated with the financial instruments set forth in those items) or any transaction similar thereto; and

三a transaction comprising the first party's promise to grant the second party the option of effecting any of the following transactions between them by a unilateral manifestation of the second party's intention alone, and the second party's promise to pay the value of that option, or any transaction similar thereto:

イthe purchase and sale of financial instruments (excluding the transactions specified in item (i)); or

ロa transaction provided for in the preceding two items or items (v) through (vii);

四a transaction comprising the first party's promise to grant the second party the option of effecting a transaction by a unilateral manifestation of the second party's intention alone, in which the parties pay and receive the amount of money calculated based on the difference between the numerical value that they have agreed in advance to use as the agreed figure for the relevant financial index if the second party manifests the intention to effect the transaction, and the actual figure of the financial index (excluding a financial indicator associated with the financial instruments set forth in paragraph (24), item (iii)-3 or item (v)) at the time the second party manifests that intention, and the second party's promise to pay the value of that option, or any transaction similar thereto;

五a transaction comprising the parties' mutual promise that, for the amount they have set as the principal, the first party will pay money to the second party based on the interest rate, etc. of an agreed-upon financial instrument (excluding one as set forth in Article 2, paragraph (24), item (iii), item (iii)-3 and item (v)) or based on the rate of change in an agreed-upon financial index during the period they have agreed to, and the second party will pay money to the first party based on the interest rate, etc. of an agreed-upon financial instrument (excluding those set forth in these items) or based on the rate of change in an agreed-upon financial index during the period they have agreed to (including transactions in which the parties promise that, in addition to paying those amounts, they will also pay or deliver and receive money or financial instruments (excluding those listed in item (iii)-3 and item (v) of that paragraph) equivalent to the amount they have set as the principal), or any transaction similar thereto;

六a transaction comprising the first party's promise to pay money to the second, and the second party's promise to pay money to the first if any of the following causes that the parties have stipulated in advance occurs (including transactions comprising the first party's promise to transfer a financial instrument, the rights connected to a financial instrument, or a monetary claim (other than a claim that constitutes a financial instrument or the rights connected to a financial instrument), but excluding the transactions set forth in item (ii) to the preceding item), or any transaction similar thereto:

イa cause involving the credit status of a corporation or other similar cause as specified by Cabinet Order; or

ロa cause on whose occurrence it is impossible or extremely difficult for either party to exert an influence, and which is specified by Cabinet Order as a thing that may have a material impact on the business activities of the parties or other persons or firms (excluding causes specified in (a));

七a transaction other than what is set forth in the preceding items, but which has an economic nature similar thereto and is specified by Cabinet Order as a transaction regarding which it is found to be necessary to ensure the public interest or the protection of investors.

一securities;

二rights such as claims based on a deposit contract, or instruments or certificates indicating such rights, which are specified by Cabinet Order (excluding those specified in the preceding item);

三currencies;

三の二crypto-and other assets (meaning the cryptoassets prescribed in Article 2, paragraph (14) of the Payment Services Act or what is set forth in paragraph (5), item (iv) of that Article which is specified by Cabinet Office Order as anything for which it is found necessary to ensure the protection of investors; the same applies hereinafter);

三の三commodities (meaning commodities prescribed in Article 2, paragraph (1) of the Commodity Derivatives Transaction Act (Act No. 239 of 1950) specified by Cabinet Order as those which are deemed unlikely to be adversely affected, in terms of proper price formation, by the market derivatives transactions involving those commodities and are deemed conducive to the national economy if the market derivatives transactions involving those commodities are conducted in a financial instruments exchange market, by taking into consideration the existence or non-existence of measures for the stabilization of the price of those commodities in accordance with the provisions of laws and regulations and other conditions of price formation and supply and demand of those commodities; the same applies hereinafter);

四assets other than what is set forth in each of the preceding items, of which there are many of the same kind, which have substantial price volatility, and which are specified by Cabinet Order as assets for with which the necessity to secure the protection of investors with regard to derivatives transactions (including similar transactions) is found (excluding commodities as defined in Article 2, paragraph (1) of the Commodity Derivatives Transaction Act); and

五standardized instruments used by a financial instruments exchange for the purpose of facilitating market derivatives transactions by standardizing interest rates, the maturity period, or other conditions of financial Instruments set forth in item (i), item (ii), or item (iii)-2 or the preceding item and specified by Cabinet Office Order.

一the price of a financial instrument or the interest rate, etc. of a financial instrument (excluding those specified in item (iii) and item (iii)-3 of the preceding paragraph);

二the numerical values associated with the results of meteorological observations published by the meteorological agency and others;

三among indexes on whose fluctuation it is impossible or extremely difficult for a person to exert an influence and which may have material impact on the business activities of business firms (excluding indicators provided for in the preceding item) and statistical values associated with social or economic conditions, the indicators and values specified by Cabinet Order as those which are found to be necessary to ensure protection for investors with regard to derivatives transactions (or other similar transactions) related to them (excluding commodity indices as defined in Article 2, paragraph (2) of the Commodity Derivatives Transaction Act which are calculated based on the prices of commodities defined in paragraph (1) of that Article other than commodities); and

四numerical values calculated based on anything provided for in the preceding three items.

一the subject transaction is closed by the customer on behalf of the financial instruments business operator or registered financial institution; or

二the customer specifies the other party to the subject transaction and other particulars specified by Cabinet Office Order in advance, at the time of the entrustment.

一qualified institutional investors;

二the State;

三the Bank of Japan; and

四investor protection funds prescribed in Article 79-21 and other corporations specified by Cabinet Office Order beyond those set forth in the preceding three items.

一the purchase and sale of securities or a market derivatives transaction;

二entrustment of the act set forth in the preceding item; and

三beyond what is set forth in the preceding item, an act performed in connection with the act set forth in item (i), which is specified by Cabinet Order as an act equivalent to the acts set forth in the preceding two items.

一services related to the calculation of the appraised value of property subject to investment (meaning money and other property that a person that may conduct investment management business, etc. under the provisions of this Act invests for the right holder prescribed in Article 42, paragraph (1)), based on the securities and other assets constituting such property subject to investment, the interest or dividends arising from such assets, and the remuneration and other fees related to the investment of such property subject to investment;

二services related to guidance for ensuring compliance with laws and regulations, etc. (meaning laws or regulations, dispositions by a government agency based on laws or regulations, or articles of incorporation and other rules).