Mr. Jun Makihara has been an Advisor of Hakuhodo DY Holdings, Inc. since June 2005. Previously, Mr. Makihara served as a Co-Head of the Equities Division and Co-Branch Manager of Goldman Sachs Japan Ltd. since November 1996. He was a Partner of Goldman Sachs & Co. since November 1992. He joined Goldman Sachs & Co in September 1981. He had a 19 year career with Goldman Sachs in New York, Los Angeles and Japan. He has been the Chairman of Neoteny Co., Ltd. since July 2000. Mr. Makihara has been a Non-Executive Director of Monex Group, Inc., since June 2006. He has been a Director of RHJ International SA since March 2005. He serves as a Director of Six Apart Ltd., and TradeStation Group Inc. He has been a Director of Shinsei Bank Ltd., since June 2011. Mr. Makihara holds an M.B.A. from Harvard Business School in 1981 and a B.A. in Economics degree from Harvard College.