Japan Internet/Game Sector "March quarter earnings results wrap-up" Zhai

Research evidence excerpt

Japan Internet/Game Sector "March quarter earnings results wrap-up" Zhai

and fee and risk statement under the Japanese Financial Instruments & Exchange Law

Company Name etc: UBS Securities Japan Co., Ltd., Financial Instruments & Exchange Firm, Kanto Local Financial Bureau (Kinsho)

No.2633

Associated Memberships: Japan Securities Dealers' Association, the Financial Futures Association of Japan, and Type II Financial

Instruments Firms Association

UBS Securities Japan Co., Ltd. will receive a brokerage fee based on an individual contract and no standard upper limit or calculating

method. For the trading of domestic stocks, consumption tax is added to the fee. For the trading of foreign stock, fee on the foreign

stock exchange or foreign tax may be charged in addition to the domestic fee and tax. Those amounts may vary depending on the

jurisdiction. There is a risk that a loss may occur due to a change in the price of the stock in the case of trading stocks, and that a loss

may occur due to the exchange rate in the case of trading foreign stocks. There is a risk that a loss may occur due to a change in the

price or performance of the properties in the portfolio in the case of trading REITs.

UBS Securities Japan Co., Ltd. will only receive the purchasing amounts for trading unlisted bonds (JGBs, municipals, government

guaranteed bonds, corporate bonds) when UBS Securities Japan Co., Ltd. is the counterparty. There is a risk that a loss may occur due

to a change in the price of the bond caused by the fluctuations in the interest rates, and that a loss may occur due to the exchange rate

in the case of trading foreign bonds.

For the detailed information of commissions and risks associated with individual financial instrument transactions, please carefully read