Note for fund investment

Risks

1. For investments in a partnership managed by us (the “Partnership”), a variety of factors, including deterioration in the performance of portfolio companies due to fluctuations in currency exchange rates, share price movements in financial instruments markets, fluctuations in values or valuations of unlisted shares or other securities, and fluctuations in interest rates, may affect the return on investment of the Partnership, which could result in losses to investors. There are no secondary markets for interests in partnerships, and therefore the liquidity of interests in partnerships is not guaranteed. Withdrawal from a partnership is permitted in exceptional cases only, and even if permitted, the timing of the refund may be deferred until distribution of partnership assets is made to other partners. Refunds are not guaranteed, and the actual amount returned may be less than the value of the Interest of the withdrawing partner at the time of withdrawal depending on the Partnership’s financial condition after the withdrawal.

2. The Partnership is an investment fund only for experienced investors. When making investments in the Partnership, investors should make all judgments and decisions on such investments at their sole responsibility in full understanding of the various risks of such investments. Materials posted on this website (the “Materials”) do not purport to be advice on such judgments or decisions in any way. The Materials express no opinion regarding the advantages of investments in securities or fund interests or the suitability of investing in securities or fund interests for investors.

3. Past performance is not necessarily indicative of future results or performance.

4. The rights and obligations of partners of the Partnership are to be ultimately determined in accordance with the provisions of the investment limited partnership agreement relating to the Partnership (the “Partnership Agreement”). If the descriptions in the Materials are inconsistent with or contrary to the descriptions in or terms of the Partnership Agreement or documents related to the Partnership Agreement, the Partnership Agreement and such other documents shall control. Please make sure that you review the terms and conditions of the Partnership Agreement when making investments in the Partnership.

Fees and expenses

Ping An Japan Investment LPⅠ

Management fee
2.0% of the total commitment amount per annual period
Additional contribution fee
14.0% per annum (calculated on a per diem basis)
Expenses
Expenses for the execution and disposition of investments, management of partnership assets, audits, insurance, tax, and other reasonable expenses in relation to the Partnership will be paid out of partnership assets. (Given that payment will be that of the actual expenses, no specific amount is indicated here.)
Organizational expenses
Paid out of partnership assets with a maximum limit of 1.0% of the total commitment amount
Incentive fee
20.0% of distribution amount exceeding the total commitment amount

The fees and expenses listed above (other than the additional contribution fee) will be borne indirectly by partners in accordance with their respective ratio of interests. However, the actual expenses and fees relating to the exercise of rights of partners may in some cases be borne directly by the exercising partners. The total amount of fees and expenses that the partners will bear will be the total of the fees and expenses enumerated above and as explained in this paragraph.

Pin An Japan Investment Co., Ltd
(Operator of Specially Permitted Businesses for Qualified Institutional Investors, etc.)