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Read these terms and conditions ("terms") carefully before using the services described herein. By utilizing the website located at www.smbc-gic.co.jp ("website"), you acknowledge that you have read these terms and conditions and that you agree to be bound by them. If you do not agree to all of the terms and conditions of this agreement, you are not an authorized user of these services and you should not use this website.
SMBC Global Investment & Consulting reserves the right to change, modify, add or remove portions of these terms at any time for any reason. We suggest that you review these terms periodically for changes. Such changes shall be effective immediately upon posting. You acknowledge that by accessing our website after we have posted changes to these terms, you are agreeing to these terms as modified.

Disclaimer

Nothing contained on this Website constitutes tax, legal, insurance or investment advice. Neither the information, nor any opinion, contained on this Website constitutes a solicitation or offer by SMBC Global Investment & Consulting Ltd. ("SGIC") or its affiliates to buy or sell any securities, futures, options or other financial instruments, nor shall any such security be offered or sold to any person in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction. Decisions based on information contained on this Website are the sole responsibility of the visitor. In exchange for using this Website, the visitor agrees to indemnify and hold SGIC, its officers, directors, employees, affiliates, agents, licensors and suppliers harmless against any and all claims, losses, liability, costs and expenses (including but not limited to attorneys’ fees) arising from your use of this Website, from your violation of these Terms or from any decisions that the visitor makes based on such information.

SGIC is licensed and registered in Japan. The information referred to in this Website is made under the Japanese laws and ordinances and available for Japanese residents only. Although the information provided on this Website including links to third party sites is obtained or compiled from sources that SGIC believes to be reliable, SGIC cannot and does not guarantee the accuracy, adequacy, completeness or safety of the information and materials contained in these pages.

The performance shown is for information only and is not necessarily indicative of future performance. All information and opinions expressed in this Website are current as of publication and are subject to change without notice. SGIC is not liable for any loss arising from the inaccuracy of the said information and materials in this Website.

The instruments/securities discussed in this material may not be suitable for all investors. In no event shall SGIC be liable for any use by any party of, for any decision made or action taken by any party in reliance upon, or for any inaccuracies or errors in, or omissions from, the information contained herein and such information may not be relied upon by you in evaluating the merits of participating in any transaction mentioned herein.

SGIC makes no representation as to the legal, tax, credit, or accounting treatment of any transactions mentioned herein, or any other effects such transactions may have on you and your affiliates or any other parties to such transactions and their respective affiliates to enter into any transaction.

The information contained herein is as of the date referenced above and SGIC does not undertake any obligation to update such information. All market prices, data and other information are not warranted as to completeness or accuracy and may subject to change without notice. This material may not be sold or redistributed without the prior written consent of SGIC.

The information and services provided on this Website are provided "AS IS" and without warranties of any kind, either expressed or implied. To the fullest extent permissible pursuant to applicable law, SGIC disclaims all warranties, including, but not limited to, any warranty of non-infringement of third-party rights and any implied warranties of merchantability and fitness for a particular purpose. SGIC does not warrant, either expressly or impliedly, the accuracy or completeness of the information, text, graphics, links or other items contained on this Website and does not warrant that the functions contained in this Website will be uninterrupted or error-free, that defects will be corrected, or that the Website will be free of viruses or other harmful components. SGIC expressly disclaims all liability for errors and omissions in the materials on this Website and for the use or interpretation by others of information contained on the Website.

Please note each relevant disclaimer when any of the indices listed below is used for this website or other materials provided externally by SGIC.

  • ICE Index
    SOURCE ICE DATA INDICES, LLC (“ICE DATA”), IS USED WITH PERMISSION.
    ICE® IS A REGISTERED TRADEMARK OF ICE DATA OR ITS AFFILIATES. ICE DATA, ITS AFFILIATES AND THEIRRESPECTIVE THIRD PARTY SUPPLIERS DISCLAIM ANY AND ALL WARRANTIES AND REPRESENTATIONS, EXPRESS AND/OR IMPLIED, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, INCLUDING THE INDICES, INDEX DATA AND ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM. NEITHER V.6 071320 ICE DATA, ITS AFFILIATES NOR THEIR RESPECTIVE THIRD PARTY SUPPLIERS SHALL BE SUBJECT TO ANY DAMAGES OR LIABILITYWITH RESPECT TO THE ADEQUACY, ACCURACY, TIMELINESS OR COMPLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF, AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN “AS IS” BASIS AND YOUR USE IS AT YOUR OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY SUPPLIERS DO NOT SPONSOR, ENDORSE, OR RECOMMEND SGIC LTD., OR ANY OF ITS PRODUCTS OR SERVICES.

  • Russell/Nomura Japan Index
    The intellectual property rights and any other rights in Russell/Nomura Japan Index belong to Nomura Fiduciary Research & Consulting Co., Ltd. (“NFRC”) and Frank Russell Company (“Russell”). NFRC and Russell do not guarantee accuracy, completeness, reliability, usefulness, marketability, merchantability and fitness of the Index, and do not account for business activities or services that SMBC Global Investment & Consulting Ltd. undertakes with the use of the Index.

  • NOMURA-BPI Index
    The intellectual property rights and any other rights in NOMURA-BPI belong to Nomura Fiduciary Research & Consulting Co., Ltd. ("NFRC").
    NFRC do not guarantee accuracy, completeness, reliability, usefulness, marketability, merchantability and fitness of the Index, and do not account for business activities or services that SMBC Global Investment & Consulting Ltd. undertakes with the use of the Index.

  • JPMorgan Index
    Information has been obtained from sources believed to be reliable, but J.P. Morgan does not warrant its completeness or accuracy. The Index is used with permission. The Index may not be copied, used, or distributed without J.P. Morgan's prior written approval. Copyright 2025, JPMorgan Chase & Co. All rights reserved.

  • Bloomberg Index
    “Bloomberg®” and Bloomberg Indices are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the index (collectively, “Bloomberg”) and have been licensed for use for certain purposes by SMBC Global Investment & Consulting Ltd. (“SGIC”). Bloomberg is not affiliated with SGIC, and Bloomberg does not approve, endorse, review, or recommend this material. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to this material.

  • LBMA GOLD PRICE
    THE LBMA GOLD PRICE IS ADMINISTERED AND PUBLISHED BY ICE BENCHMARK ADMINISTRATION LIMITED (IBA). LBMA GOLD PRICE IS A TRADE MARK OF PRECIOUS METALS PRICES LIMITED, AND IS LICENSED TO IBA AS ADMINISTRATOR OF THE LBMA GOLD PRICE. ICE AND ICE BENCHMARK ADMINISTRATION ARE REGISTERED TRADE MARKS OF IBA AND/OR ITS AFFILIATES. THE LBMA GOLD PRICE IS USED BY SMBC GLOBAL INVESTMENT & CONSULTING LTD. WITH PERMISSION UNDER LICENCE BY IBA.
    HISTORICAL LBMA GOLD PRICE INFORMATION MAY NOT BE INDICATIVE OF FUTURE LBMA GOLD PRICE INFORMATION OR PERFORMANCE. NONE OF IBA, INTERCONTINENTAL EXCHANGE, INC. (ICE) OR ANY THIRD PARTY THAT PROVIDES DATA USED TO ADMINISTER OR DETERMINE THE LBMA GOLD PRICE (DATA PROVDERS), OR ANY OF ITS OR THEIR AFFILIATES MAKES ANY CLAIM, PREDICTION, WARRANTY OR REPRESENTATION WHATSOEVER AS TO THE TIMELINESS, ACCURACY OR COMPLETENESS OF HISTORICAL LBMA GOLD PRICE INFORMATION, THE RESULTS TO BE OBTAINED FROM ANY USE OF HISTORICAL LBMA GOLD PRICE INFORMATION, OR THE APPROPRIATENESS OR SUITABILITY OF USING HISTORICAL LBMA GOLD PRICE INFORMATION FOR ANY PARTICULAR PURPOSE. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ALL IMPLIED TERMS, CONDITIONS AND WARRANTIES, INCLUDING, WITHOUT LIMITATION, AS TO QUALITY, MERCHANTABILITY, FITNESS FOR PURPOSE, TITLE OR NON-INFRINGEMENT, IN RELATION TO HISTORICAL LBMA GOLD PRICE INFORMATION, ARE HEREBY EXCLUDED, AND NONE OF IBA, ICE OR ANY DATA PROVIDER, OR ANY OF ITS OR THEIR AFFILIATES WILL BE LIABLE IN CONTRACT OR TORT (INCLUDING NEGLIGENCE), FOR BREACH OF STATUTORY DUTY OR NUISANCE, OR UNDER ANTITRUST LAWS, FOR MISREPRESENTATION OR OTHERWISE, IN RESPECT OF ANY INACCURACIES, ERRORS, OMISSIONS, DELAYS, FAILURES, CESSATIONS OR CHANGES (MATERIAL OR OTHERWISE) IN HISTORICAL LBMA GOLD PRICE INFORMATION, OR FOR ANY DAMAGE, EXPENSE OR OTHER LOSS (WHETHER DIRECT OR INDIRECT) YOU MAY SUFFER ARISING OUT OF OR IN CONNECTION WITH HISTORICAL LBMA GOLD PRICE INFORMATION OR ANY RELIANCE YOU MAY PLACE UPON IT.
    HISTORICAL LBMA GOLD PRICE INFORMATION PROVIDED BY SMBC GLOBAL INVESTMENT & CONSULTING LTD. MAY BE USED BY YOU INTERNALLY TO REVIEW THE ANALYSIS PROVIDED BY SMBC GLOBAL INVESTMENT & CONSULTING LTD., BUT MAY NOT BE USED FOR ANY OTHER PURPOSE. HISTORICAL LBMA GOLD PRICE INFORMATION PROVIDED BY SMBC GLOBAL INVESTMENT & CONSULTING LTD. MAY NOT BE DISCLOSED BY YOU TO ANYONE ELSE.

  • S&P Index
    The S&P Indices are a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by SMBC Global Investment & Consulting Ltd. (“SGIC”). Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”).  Each of SGIC’s services and products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such products nor do they have any liability for any errors, omissions, or interruptions of the index.

  • Morningstar Index
    © Morningstar 2025. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers, (2) may not be copied or redistributed, (3) do not constitute investment advice offered by Licenser and Morningstar, and (4) is not warranted to be correct, complete or accurate. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past financial performance is no guarantee of future results.

  • Trademarks, Copyrights and other Intellectual Property

    The content contained on this Website is owned or licensed by SGIC and its third-party information providers and is protected by applicable copyrights, trademarks, service marks, and/or other intellectual property rights. Such content is solely for your personal, non-commercial use. Accordingly, you may not copy, distribute, modify, post, frame or deep link this Website, including any text, graphics, video, audio, software code, user interface design or logos. You may download material displayed on this Website for your personal use provided you also retain all copyright and other proprietary notices contained on the materials. You may not distribute, modify, transmit, reuse, repost, or use the content of this Website for public or commercial purposes, including all text, images, audio, and video, without SGIC's written permission. Modification or use of the materials for any other purpose violates SGIC's intellectual property rights.

    All trademarks, service marks, trade names, and logos displayed on this Website are proprietary to SGIC and/or their respective owners. Nothing contained on this Website should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any trademark displayed on this Website without the written permission of SGIC or such other third party that may own the trademark displayed on this Website. Your use of the trademarks displayed on this Website, except as provided herein, is strictly prohibited.

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    Links to Other Websites

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    Links to SGIC from Other Websites

    You shall not display hyperlinks on your websites to any website owned or operated by SGIC. If you desire to display on your website a hyperlink to a SGIC website, you must enter into a written agreement with SGIC governing such display. Access to any SGIC website does not authorize you to use any of SGIC's names, logos, trademarks or copyrighted material, and you agree not to do so without SGIC's express written consent. Requests to display hyperlinks on your websites to SGIC websites should be e-mailed to .

    Limitation of Liability

    SGIC and its affiliates and their respective officers, directors, employees or agents will not be liable to you or anyone else for any damages of any kind, including, but not limited to, direct, consequential, incidental, special or indirect damages (including but not limited to lost profits, trading losses or damages that result from use or loss of use of this website), even if SGIC has been advised of the possibility of such damages or losses, including, without limitation, from the use or attempted use of this website or another linked website.

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