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umentation. "Moody's", "Standard & Poor's", and "Fitch" mentioned in this report are not registered credit rating agencies in Japan unless Japan or "Nippon" is specifically designated in the name of the entity. Reports on Japanese listed companies not written by analysts of DSI are written by Deutsche B
by the Securities and Exchange Board of India (SEBI) as a Stock broker bearing registration nos.: NSE (Capital Market Segment) - INB231196834, NSE (F&O Segment) INF231196834, NSE (Currency Derivatives Segment) INE231196834, BSE (Capital Market Segment) INB011196830; Merchant Banker bearing SEBI Registration
umentation. "Moody's", "Standard & Poor's", and "Fitch" mentioned in this report are not registered credit rating agencies in Japan unless Japan or "Nippon" is specifically designated in the name of the entity. Reports on Japanese listed companies not written by analysts of DSI are written by Deutsche B
by the Securities and Exchange Board of India (SEBI) as a Stock broker bearing registration nos.: NSE (Capital Market Segment) - INB231196834, NSE (F&O Segment) INF231196834, NSE (Currency Derivatives Segment) INE231196834. BSE (Capital Market Segment) INB011196830; Merchant Banker bearing SEBI Registration
cumentation. "Moody's", 'Standard & Poor's, and 'Fitch" mentioned in this report are not registered credit rating agencies in Japan unless Japan or "Nippon' is specifically designated in the name of the entity. Reports on Japanese listed companies not written by analysts of DSI are written by Deutsche Ba
by the Securities and Exchange Board of India (SEBI) as a Stock broker bearing registration nos.: NSE (Capital Market Segment) - INB231 196834, NSE (F&O Segment) INF231196834. NSE (Currency Derivatives Segment) INE231196834, BSE (Capital Market Segment) 1NB011196830; Merchant Banker bearing SEBI Registration
umentation. "Moody's", "Standard & Poor's", and "Fitch" mentioned in this report are not registered credit rating agencies in Japan unless Japan or "Nippon" is specifically designated in the name of the entity. Reports on Japanese listed companies not written by analysts of DSI are written by Deutsche B
d by the Securities and Exchange Board of India (SEW) as a Stock broker bearing registration nos.: NSE (Capital Market Segment) - INB231196834, NSE (F&O Segment) INF231196834, NSE (Currency Derivatives Segment) INE231196834, BSE (Capital Market Segment) INB011196830; Merchant Banker bearing SEBI Registration
umentation. "Moody's", "Standard & Poor's", and "Fitch" mentioned in this report are not registered credit rating agencies in Japan unless Japan or "Nippon" is specifically designated in the name of the entity. Reports on Japanese listed companies not written by analysts of DSI are written by Deutsche B
by the Securities and Exchange Board of India (SEBI) as a Stock broker bearing registration nos.: NSE (Capital Market Segment) - INB231196834, NSE (F&O Segment) INF231196834, NSE (Currency Derivatives Segment) INE231196834, BSE (Capital Market Segment) INB011196830; Merchant Banker bearing SEBI Registration
umentation. "Moody's". "Standard & Poor's", and "Fitch" mentioned in this report are not registered credit rating agencies in Japan unless Japan or "Nippon" is specifically designated in the name of the entity. Reports on Japanese listed companies not written by analysts of DSI are written by Deutsche B
by the Securities and Exchange Board of India (SEBI) as a Stock broker bearing registration nos.: NSE (Capital Market Segment) - INB231196834, NSE (F&O Segment) INF231196834, NSE (Currency Derivatives Segment) INE231196834, BSE (Capital Market Segment) INB011196830; Merchant Banker bearing SEBI Registration
Entities connected to both Nippon and F&O Segment

Deutsche Bank
ORGANIZATION
Moody's
ORGANIZATIONStandard & Poor's
ORGANIZATIONthe Kanto Local Finance Bureau
ORGANIZATION
Frankfurt
LOCATIONDeutsche Bank AG Johannesburg
ORGANIZATIONBaFin
ORGANIZATION
United Kingdom
LOCATIONDeutsche Securities Inc.(DSI
ORGANIZATIONthe Federal Republic of Germany
LOCATIONDeutsche Bank Securities Inc.
ORGANIZATIONthe Prudential Regulation Authority
ORGANIZATIONThe Financial Futures Association of Japan
ORGANIZATIONDeutsche Equities India Private Limited
ORGANIZATIONthe European Central Bank
ORGANIZATIONDEIPL
ORGANIZATIONCapital Market Segment
ORGANIZATIONMerchant Banker
ORGANIZATIONG Block
PERSONGerman Banking Law
ORGANIZATION