In the course of making decisions regarding the acquisition, disposal, or operation and management of assets, approval is obtained from the Investment Committee in accordance with the Guidelines for the Investment Committee. In the same way, in the course of making decisions regarding investment policies and standards, operation and management policies and standards, budget, and financing of the investment corporations, approval is obtained from the Investment Committee. If a transaction constitutes a transaction between stakeholders stipulated in the Regulations for Transactions with Stakeholders of the Asset Manager, the Compliance Committee must first adopt resolutions before the Investment Committee makes decisions (excluding Minor Transactions). In addition, if a transaction to be executed involves the acquisition, disposal, or lending of securities or real estate between the Investment Corporation and a related party or the like of the Asset Manager as stipulated in Article 201(1) of the Investment Trust Act (hereinafter referred to as “ITA”), then, subsequent to the Compliance Committee adopting a resolution and the Investment Committee adopting a resolution, the Investment Corporation’s consent must, by the time the transaction is executed, be obtained based on the approval of the Board of Directors of the Investment Corporation, except in certain cases in which it is determined that the transaction will have a minor impact on the Investment Corporation’s assets, based on the Ordinance for Enforcement of the ITA.