Nomura Asset Management Co., Ltd. (CEO and President: Hiroyasu Koike, hereinafter referred to as "the Company") has listed an ETF (hereinafter referred to as "this ETF") linked to the Nikkei Semiconductor Stock Average on the Tokyo Stock Exchange.^※1As of today, this ETF can be traded on the exchange through securities companies nationwide.

The "Nikkei Semiconductor Stock Average" is a market capitalization-weighted index of semiconductor-related stocks listed on the Tokyo Stock Exchange. It is composed of 30 stocks with the largest market capitalization and represents the movement of Japanese semiconductor-related stocks. In anticipation of further expansion of the semiconductor market, we have established this ETF to provide domestic and foreign investors with investment opportunities in major Japanese semiconductor-related companies.

For more information about this ETF, please refer to our company's website.

NEXT FUNDS Listed Investment Trust Linked to the Nikkei Semiconductor Stock Average

About "NEXT FUNDS"

"NEXT FUNDS" is the unified brand for the ETF series operated by our company. The name "NEXT FUNDS" comes from the initials of "Nomura Exchange Traded FUNDS," which means "Nomura's ETF (Exchange-Traded Fund)," and expresses the intention to develop a lineup of "next-generation funds." Our company listed the first domestic ETF in May 1995. With the establishment and listing of this ETF, the number of ETFs operated by us, "NEXT FUNDS," will be 72 in total.

NEXT FUNDS exclusive site

Copyright of the Nikkei Semiconductor Stock Average Index

• The "Nikkei Semiconductor Stock Average Index" is a work calculated by a unique method developed by Nikkei Inc. The Nikkei Semiconductor Stock Average Index itself and the method of calculating the index are protected by copyright and all other intellectual property rights held by Nikkei. The "NEXT FUNDS Nikkei Semiconductor Stock Average Index-linked ETF" is managed by the trust investment company under its responsibility, and Nikkei has no obligation or responsibility for the operation of the ETF and the trading of the beneficiary rights. Nikkei is not obligated to continuously disclose the composition of the Nikkei Semiconductor Stock Average Index, change its components, calculation methods, or any other content or suspend its disclosure.
• The Nikkei Semiconductor Stock Average Index is calculated and maintained based on a contract with S&P Opco, LLC, a subsidiary of S&P Dow Jones Indices LLC. Neither S&P Dow Jones Indices, its affiliated companies, nor any third-party licensors shall have any liability for any errors or omissions in calculating the Nikkei Semiconductor Stock Average Index. "S&P" is a registered trademark of Standard & Poor's Financial Services LLC.

Notice from Nomura Asset Management

Risks of investing in ETFs

Since ETFs invest primarily in securities with price fluctuations, the market trading price or net asset value may decrease due to the impact of market factors, such as changes in stock market index linked to fund, a decline in the price of component securities, the bankruptcy or deterioration of the financial condition of the issuer of component securities, or other market factors. Some component securities may be affected by foreign exchange rate fluctuations, which could cause the net asset value to drop. Therefore, investors' investment capital is not guaranteed. Note that investment trusts differ from savings accounts.

When applying for a trust, be sure to read and judge the contents of the investment trust explanatory document (prospectus) provided by the sales company.

Costs of ETFs

ETF investors who invest through the market will bear the following costs.

Commission fees

If you invest through the market, you will incur commission fees set by the handling Type 1 financial instruments dealer (securities company), which are separate from the transaction amount (since the commission rate differs depending on the handling company, we cannot display the upper limit of the commission fee).

Trust fees

The total amount of trust fees shall be the amount calculated by (1) plus the amount calculated by (2).
Since the trust fee is paid from the trust property, it is a cost that you indirectly bear over the holding period of the ETF.

(1) 1.045% per year of the net asset value of the trust property.^*The amount obtained by multiplying the rate specified by the principal by the commission rate (excluding tax) per year.

If the trustee has lent securities belonging to the trust property, 55% of the lending fee shall apply.^*Within 50% (excluding tax).

Other expenses include taxes related to ETFs, costs including trust business processing (including expenses related to storing property overseas), interest on the trustee's advance payment advances, commissions incurred in the purchase and sale of constituent securities, etc., audit fees, and other fees (including trademark royalties for listing of beneficiary interests and target indicators) and consumption tax on these expenses will be incurred on a case-by-case basis during the holding period of the ETF, which will be borne indirectly by you. Other expenses are subject to fluctuation depending on operational status, etc., and it is impossible to indicate the rate or upper limit in advance.

The total amount of the above expenses will vary depending on the period in which investors hold the fund and other factors, and cannot be displayed. Please refer to the "Expenses and taxes of the Fund" section of the investment trust prospectus for more information.
Please note that Nomura Asset Management Co., Ltd. does not directly accept applications from investors for ETFs. To invest in ETFs, please open an account with a type 1 financial instruments business operator (securities company) and apply.

Registered financial instruments business operator No.373, Director of Kanto Local Finance Bureau (Financial instruments brokerage business).

Membership association: Investment Trusts Association, Japan Investment Advisers Association, Japan Securities Dealers Association type II financial instruments business.

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Please see the 'Expenses and Taxes of the Fund' section of the investment trust prospectus for more information.
Multiple ETFs indicate the maximum commission rate. Some ETFs are also calculated based on principal. If securities belonging to the trust property are lent, 55% of the lending fee for those securities apply. Other expenses include taxes related to ETFs, expenses related to trust business processing (including expenses related to the storage of property abroad), interest on the trustee's advances, brokerage commissions on trades of constituent securities, audit expenses, and other expenses (including fees related to the use of registered trademarks for the listing of beneficial interests and for the index). Such expenses, and any related consumption taxes, shall be charged as they occur from time to time during the holding period of the ETF, and shall be borne indirectly by the investor. Note however, that such expenses may fluctuate and it may not be possible to provide advance information on their rates or upper limits. The total amount of expenses cannot be displayed, as it will vary depending on the investor's holding period of the fund. For more detailed information, please refer to the investment trust prospectus. Nomura Asset Management Co., Ltd. does not accept applications directly from investors for ETFs. To invest in ETFs, please open an account with a Type 1 financial instruments business operator (a securities firm) and apply through the operator. Nomura Asset Management Co., Ltd. is a registered financial instruments business operator with the Kanto Local Finance Bureau (Registration No. 373), and is a member of the Investment Trusts Association, Japan Investment Advisers Association and the Japan Securities Dealers Association (type II financial instruments business).