Koei Tecmo Holdings

Research evidence excerpt

Koei Tecmo Holdings

Nomura | Koei Tecmo Holdings 27 July 2026

shall be paid, with no sales commission charged. However, Nomura Securities may charge a separate fee for OTC transactions, as agreed with

the customer. Japanese equities carry the risk of losses owing to price fluctuations. Japanese REITs carry the risk of losses owing to

fluctuations in price and/or earnings of underlying real estate. Japanese ETFs and ETNs carry the risk of losses owing to fluctuations in the

underlying indexes or other benchmarks. Japanese Infrastructure Funds carry out the risk of losses owing to fluctuations in price and/or

earnings of underlying infrastructures.

Transactions involving foreign equities are subject to a domestic sales commission of up to 1.045% (tax included) of the transaction amount

(which equals the local transaction amount plus local fees and taxes in the case of a purchase or the local transaction amount minus local fees

and taxes in the case of a sale) (for transaction amounts of ¥750,000 and below, maximum domestic sales commission is ¥7,810 (tax

included)). Local fees and taxes in foreign financial instruments markets vary by country/territory. When foreign equities are purchased via OTC

transactions (including offerings), only the purchase price shall be paid, with no sales commission charged. However, Nomura Securities may

charge a separate fee for OTC transactions, as agreed with the customer. Foreign equities carry the risk of losses owing to factors such as price

fluctuations and foreign exchange rate fluctuations.

Margin transactions are subject to a sales commission of up to 1.43% (tax included) of the transaction amount (or a commission of ¥2,860 (tax

included) for transactions of ¥200,000 or less), as well as management fees and rights handling fees.