As FIXIO, we cannot definitively declare that affiliate activities are clearly legal. Since we are not qualified to provide legal advice, we cannot make any explicit statements on this matter.

According to the independent opinion of our legal counsel, affiliate activities that only provide information are considered “legal.” However, if you are providing specific investment advice, a license for investment advisory services authorized in Japan is required.

Given that the Financial Instruments and Exchange Act in Japan contains many ambiguities, legal judgments must be made based on specific cases. Opinions among lawyers may differ, and therefore, we cannot provide concrete legal advice.

If you need detailed legal advice regarding affiliate activities, we recommend consulting with a legal professional specializing in this area.