Astris Advisory Japan KK

Item 5.        Fees and Compensation

Research Services

We charge our institutional investor clients fees commensurate with the research services provided.
Our highest price per institutional investor client is US$40,000 while our lowest is US$12,000.
For the US$40,000 subscription we would give full access to the Astris Advisory Japan client and that
institutional investor client would get access to all earnings models and weekly access to the writing
analyst.

Our research is provided to clients on either an ongoing, subscription basis, or by flat or hourly fees.
The fee is negotiable based on client’s needs, and clients are generally invoiced quarterly in advance
based on a negotiated subscription agreement, or by negotiated flat or hourly rates. The specific
payment arrangement will be dependent upon in the client’s agreement. Additional services, such as
                                            Astris Advisory Japan, K.K. |Form ADV Part 2A 4

bespoke consulting, analyst meetings, corporate relations services, and placement agent services are
negotiated based on client’s requirements. These additional services are either included in their
subscription agreement or priced separately on demand.

As disclosed above, regardless of the form that the fee takes, all of Astris’ fees are negotiable, based on
the scope of the project, prior relationship with the client, and expected future work for the client.
Because of the variable nature of client engagements, Astris does not have a standard fee range for our
engagements. Similar advisory services may be available from other investment advisers at a lower
price.

Item 7.          Types of Clients

Our firm primarily provides advisory services to the following types of clients;

   •      Qualified Institutional Investors (QII) only including Trusts, estates, fund managers and
          financial institutions