Governance Structure and Same-boat Principle

■Management of Conflict of Interest and Impartiality Operation Structure
TIF's asset manager appoints external experts for the investment management and the compliance division and requires attendances and approvals from compliance officer and external member in case of related party transaction.



■Integrating the interest of unitholders and the Sponsor, Takara Leben Group
Takara Leben owns investment unit of TIF in order to integrate unitholder return with the Sponsor, Takara Leben's interest TIF considers that this contributed to growth both TIF and Sponsor.