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The contents of this report are protected by copyright law. All rights reserved by Terra Media and Consulting Co.,ltd. None of the material, nor its content, nor any copy of it, may be altered in anyway, or copied to any other party, without the prior express written permission of Terra Media and Consulting Co.,ltd. Although Terra Media and Consulting Co.,ltd. believe its views reflect market conditions on the date of this presentation, they are subject to uncertainties and contingencies, many of which are beyond Terra Media’s control. In addition, many of Terra Media’s views are opinion and/or projection based on Terra Media’s subjective analyses of current market circumstances. Other firms may have different opinions, projections and analyses, and actual market in the future may cause Terra Media’s current view to later be incorrect. Terra Media has no obligation to update its views herein if its opinions, projections, analyses or market circumstances later change.

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