GREETINGS

The Master Trust Bank of Japan, Ltd., would like to thank you for your continued patronage and support over the years.

Our company was founded in May 2000, as the very first trust bank in Japan to exclusively engage in the asset administration business. Transcending the lines of business categories and banking and financial groups, our company was formed through investments from Mitsubishi UFJ Trust & Banking Corporation, Nippon Life Insurance Company, Meiji Yasuda Life Insurance Company and The Norinchukin Trust & Banking Co., Ltd. Orchestrating the strong business infrastructure of these companies and know-how accumulated through years of continuous service, we have endeavored to efficiently provide our clients with asset administration services of the highest quality. Due to a steady increase in the trust assets entrusted to us, from pension trusts and investment trusts, etc. and deposit assets received from our financial institution clients, etc., the balance of assets under our management has reached 397 trillion yen as of the end of March 2018.

Considering the need to respond to the diversification of financial investment products and investment techniques, and the expansion of investment techniques, we are making every effort to improve the asset administration services in order to answer our client needs, through reinforcing our derivatives trading management system (the trading volume with respect to which is anticipated to increase), investing in emerging markets, and responding to diversifying ETFs

In addition, we are continuing to proactively engage in staff training and human resource development, risk management, and enhancement of compliance, and thus, we have focused on the improvement of our business infrastructure for the purpose of reassuring our clients that their assets are secure with us.

We have adopted the motto "Leading Custodian Bank Efficiently Providing Comprehensive Asset Administration Services of the Highest Level by Global Standards" as the image of the company we should be, and this has been condensed to the corporate slogan "BE PROFESSIONAL."

Under our corporate slogan "BE PROFESSIONAL," embodying the principles of responsibility, self-awareness, and goals, our entire staff continues to earnestly strive to provide our clients with the most prompt and efficient service possible. We sincerely appreciate your continued kind support and patronage. Thank you very much!

Sincerely,
Hisashi Ito, Representative Director, President