Disclaimer

This Disclaimer (the "Disclaimer") governs your use of the website operated by Murakura Asset Management Co., Ltd. ("the Company") at https://murakura-am.co.jp/ (the "Website"), as well as your engagement of the consulting, advisory, and related services we provide (the "Services"). By using the Website or engaging the Services, you are deemed to have accepted this Disclaimer.

Article 1 — Scope of Services & Relation to Financial Instruments Business

The Company is an operating company providing business strategy, finance, fundraising, business evaluation, fractional CFO, and other management and financial consulting services, together with advisory and operational support relating to the holding, utilisation, and management of real estate.

• Sale, brokerage, intermediation, or agency of securities
• Advisory or recommendations on the value of, or investment decisions concerning, specific securities
• Discretionary management of client assets entrusted to the Company (including discretionary investment agreements)
• Sale or solicitation of interests in collective investment schemes
• Any other activities requiring registration, notification, or licensing under the Financial Instruments and Exchange Act

Where the Website or any description of our Services refers to "investment," "fund," "management," or similar terms, such terms are used in the context of business and managerial decision-making and do not denote the provision of services constituting Financial Instruments Business.

Article 2 — Real Estate Activities

Our real estate activities are limited to the holding, utilisation, and management of real estate that the Company owns or leases, together with general advisory and operational support in connection with real estate.

Article 3 — Accuracy of Information

The Company uses reasonable efforts to ensure that information published on the Website and information, analysis, and advice provided through the Services are accurate, complete, current, useful, and fit for a particular purpose, but does not warrant any of the foregoing. Information on the Website may be changed or removed without notice.

Case examples, figures, and track records referenced on the Website may include experience and achievements of our representative gained in prior roles. Such references describe the personal career of the individual concerned and do not constitute a guarantee of outcomes obtainable through Services provided by the Company.

Article 4 — Nature of Advisory and Client Responsibility

Advisory, analysis, and proposals provided by the Company under the Services are intended to support, but not to determine, our clients' business, managerial, and investment decisions. The Company does not guarantee any particular outcome.

Specific decisions made on the basis of the Services and the consequences of such decisions remain the sole responsibility of the client. Whether to adopt the Company's advice in whole or in part, and the ultimate business, managerial, and investment decisions, are matters within the exclusive responsibility of the client.

Article 5 — Third-Party Information & External Links

The Website may include information provided by third parties or links to websites operated by third parties. The Company is not responsible for the content of such third-party information or external websites. Your use of external websites is governed by the terms applicable to those sites.

Article 6 — Intellectual Property

Copyright, trademark, and other intellectual property rights in the text, images, logos, charts, structured data, and all other content on the Website ("Site Content") belong to the Company or to their respective rightful owners.

Unauthorised reproduction, modification, redistribution, commercial use, or any other use of the Site Content that prejudices the interests of the rightful owners is prohibited. Permitted quotations must comply with applicable copyright laws, including by indicating the source.

Article 7 — Limitation of Liability

Except in cases of wilful misconduct or gross negligence on the part of the Company, the Company shall not be liable for any damages — including direct, indirect, special, consequential or incidental damages, lost profits, lost opportunities, or damages arising from third-party claims — arising out of or in connection with the use of the Website or the Services.

Where liability of the Company is nevertheless established in respect of the Services, the aggregate liability of the Company shall in no event exceed the fees paid by the client to the Company in respect of the specific engagement giving rise to the loss.

Article 8 — Use of the Website

In using the Website, you must not engage in any of the following:

• Unauthorised reproduction, modification, or redistribution of the Site Content
• Conduct that infringes the rights or interests of the Company, other users, or third parties
• Conduct that interferes with the operation of the Website (including excessive access, automated scraping, or vulnerability probing)
• Conduct that violates applicable laws or public order and morals

The Company may, without prior notice, modify the content, domain, URL, structure, or any other aspect of the Website, or suspend or discontinue the provision of the Website. The Company shall not be liable for any damages incurred as a result.

Article 9 — Revisions

This Disclaimer may be revised without prior notice in response to changes in legislation, our services, or other circumstances. The revised Disclaimer shall take effect from the date of publication on this page.

Article 10 — Governing Law & Jurisdiction

This Disclaimer shall be construed and applied in accordance with the laws of Japan. Any disputes arising between the Company and a user in connection with the Website or the Services shall be subject to the exclusive jurisdiction of the Tokyo District Court as the court of first instance.

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