Rules on Related-Party Transactions

Development of self-imposed rules on transactions with Related Parties(Note) and measures to avoid conflicts of interest through multiple checks

（Note）“Related Parties” is a collective term for 1 and 2.

1. “Tokyu Corporation and its subsidiaries” refers to any entity that falls under the following (1) to (3):
　(1) Tokyu Corporation
　(2) A subsidiary of Tokyu Corporation
　(3) A tokutei mokuteki kaisha (TMK) or special purpose entity (SPE) that was established based on the intention of Tokyu Corporation or a subsidiary of Tokyu Corporation and where the share of investment by silent partnership or other investment shares in that entity by the respective company exceeds 50%.

2. Affiliates of Tokyu Corporation