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Electronic Communications Legal Notice
This information forms part of any electronic communication with Nomura


ACCEPTANCE OF TERMS

You are deemed to have accepted the conditions of electronic communication with
Nomura by virtue of your communication. If you are not comfortable with the
conditions you may decide not to communicate electronically with Nomura in
future.


INTENDED RECIPIENTS ONLY

Electronic communications (including any attachments thereto) are intended
solely for the addressee(s) private and confidential use. No confidentiality or
legal privilege in the electronic communication is waived or lost by any
mistransmission. If you receive an electronic communication in error please
contact the sender immediately, delete it and all copies of it from your system
and destroy any hard copies. You must not divulge, copy, forward or re-use the
contents (including any attachments or information) in any way. Any unauthorised
use or disclosure may be unlawful.


ACCURACY OF CONTENT

The information and opinions expressed in electronic communications are solely
those of the sender and unless otherwise stated, shall not (a) be construed as
the official statement of Nomura or (b) intended to create legal relations.
Information in an electronic communication is subject to change without notice.
Electronic communication is not a secure method of communication. Computer
viruses or disabling code, may be present in electronic communications and such
messages may not be accurately replicated on other systems or may be
intercepted, deleted or interfered with without the knowledge of the sender or
the intended recipient. No warranty is made by Nomura as to the accuracy or
completeness of electronic communications to and from Nomura's systems and
Nomura accepts no responsibility or liability for such changes or for the
presence of any aforementioned virus or disabling code. The information
presented has been obtained from or based upon sources believed to be reliable,
but none of Nomura or its employees, contractors, representatives, traders or
salespersons represents or warrants its accuracy or completeness and is not
responsible for losses or damages arising out of errors, omissions or changes in
market factors. The information contained herein is subject to change without
notice.


PROPRIETARY INVESTMENT BUSINESS

Nomura may undertake or have undertaken transactions for its own account in the
financial instruments mentioned in an electronic communication or any related
investments prior to your receipt of it. Nomura may provide investment banking
services (including without limitation corporate finance services), or solicit
such business, for the issuers of the securities mentioned in an electronic
communication and may from time to time participate in commercial banking
transactions with the issuers of the securities mentioned in this communication.
Accordingly, information may be available to Nomura, which is not reflected in
an electronic communication. Nomura and its employees, contractors and
representatives may have positions in or options on the financial instruments
mentioned in the electronic communication or any related investments or may buy,
sell or offer to buy or sell such financial instruments or any related
investments as principal or agent on the open market or otherwise. Unless
otherwise stated an electronic communication is not (a) investment research or a
research or investment recommendation under applicable regulatory rules; (b) a
recommendation, solicitation or offer to buy or sell securities or related
financial instruments. Any reference to Nomura Investment Research reports
should be read in conjunction with the full text of the actual report, which is
available on www.nomuranow.com/research.


RETAIL CLIENTS

Where an electronic communication relates to securities, services or investment
business it is neither intended for nor directed at retail clients and such
services or investments are not available to retail clients.


MONITORING

Nomura reserves the right to retain, monitor and intercept electronic
communications to and from its systems subject to and in accordance with
applicable law.


NOMURA

This electronic communication has been prepared by employees, contractors or
representatives of Nomura. The term "Nomura" used herein refers to Nomura
Holdings, Inc., which is regulated as an ultimate designated parent company
(saishyu shitei oyagaishya) by the Japan Financial Services Agency ("JFSA"), or
any of its affiliates or subsidiaries and may refer to one or more Nomura Group
companies including: Nomura International plc ("NIplc"), which is authorised by
the Prudential Regulation Authority ("PRA") and regulated by the Financial
Conduct Authority ("FCA") and the Prudential Regulation Authority in the UK, is
a member of the London Stock Exchange and a CFTC registered Swap Dealer, NIplc
in the Dubai International Financial Centre ("DIFC") is regulated by the Dubai
Financial Services Authority ("DFSA"); or by Nomura Financial Products Europe
GmbH (“NFPE”) which is authorized and regulated by the Federal Financial
Supervisory Authority; or by Nomura International (Hong Kong) Limited ("NIHK"),
which is regulated by the Hong Kong Securities and Futures Commission, or by
Nomura Securities Co, Ltd. ("NSC"), which is regulated by the JFSA, or by Nomura
Financial Products & Services, Inc., which is regulated by the JFSA, or by
Nomura Singapore Limited ("NSL"), which is regulated by the Monetary Authority
of Singapore ("MAS"), or by P.T. Nomura Indonesia ("PTNI") which is regulated by
Otoritas Jasa Keuangan ("OJK"), or by Nomura International (Hong Kong) Limited,
Taipei Branch, ("NIHK Taipei Branch"), which is regulated by Securities and
Futures Bureau of Financial Supervisory Commission ("SFB"), Taiwan Stock
Exchange ("TSE") and Gretai Securities Market ("GSM"), or by Nomura Securities
Malaysia Sdn Bhd ("NSM"), which is regulated by the Companies Commission of
Malaysia, or by Nomura Financial Advisory and Securities (India) Private Limited
("NFAS"), which is regulated by Securities and Exchange Board of India ("SEBI"),
or by Nomura Financial Investment (Korea) Co., Ltd Korea ("NFIK"), which is
regulated by the Korea Financial Investment Association ("KOFIA") (Information
on Nomura analysts registered with the Korea Financial Investment Association
("KOFIA") can be found on the KOFIA Intranet at http://dis.kofia.or.kr), or by
Nomura Securities International, Inc., ("NSI"), which is a registered
broker-dealer in the United States and a member of Securities Investor
Protection Corporation ("SIPC"), or by Nomura Global Financial Products
("NGFP"), an SEC registered OTC Derivatives Dealer and a CFTC registered Swap
Dealer, or by Nomura Australia Ltd ("NAL"), which is authorised and regulated by
the Australian Securities and Investment Commission ("ASIC"), or by Nomura
Research Institute Europe Limited, or by Nomura Asset Management Singapore
Limited ("NAMS"), which is regulated by the Monetary Authority of Singapore, or
by Nomura Asset Management Hong Kong Limited ("NAMHK"), which is regulated by
the Hong Kong Securities and Futures Commission.



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