That`s the way it is. The requirement provides the following situation regarding the co-location service. EST rents space for servers at its main location in Japan. A Japanese investment firm that is a member of the EST (“participant”) will lease the storage space of the EST server. The participant provides transactions for foreign investors, but the sale of securities made through the participant on behalf of foreign investors is carried out on behalf of the participant under a Commissionary Agreement (toiya). (A Toiya agreement is an undisclosed agreement in principle/agent.) Ton`ya (), called toiya outside Edo, were commercial brokers in Japan, mainly wholesalers, warehouse managers and shipping managers; the term applies to both merchants themselves and their stores or warehouses. As early as the 12th century, ton`ya played a decisive role in the economy of the Edo period (1603-1867). Activities other than the distribution or purchase of goods for companies other than companies are called Juntoiya and the supply of Toiya applies mutatis mutandis (Article 558 of the Code of Commerce). A foreign investor (“investor”) and a participant enter into an agreement on co-location services under which the participant provides a high-speed order platform (kosoku na hatchyu kankyo) on which the investor can trade securities through the TSE. The participant owns or leases the server on which the investor`s trades are executed. The investor will not own or sub-lease the server and will not be able to freely use the server (rent, use to provide similar services such as subscribers, etc.), get rid (sell, offer, destroy, etc.
as collateral), receive server delivery or have the right of possession. A single server can be used to execute a single investor`s trades, or a single server can be used to execute trades from multiple investors. The ton of the Edo period was little different and acted essentially as an independent agent for certain elements of domestic trade; Most of the time they were chargers, but many were local agents, intermediaries or storekeepers. They would be hired by a company (a merchant, a business, etc.) that operated in one of the major cities to manage or handle the company`s goods in another part of the country. Basically, freight shippers from Osaka, transporting goods to Edo, counted at least 24 in 1700, and a large number of “guilds” existed specializing in handling different types of products, such as cotton, sugar or paper. In addition, there were groups such as the Satsuma Tonya and the Matsumae Tonya clan, which specialized in handling and transporting goods within two of Japan`s four large outward “doors”; Matsumae, in Hokkaida, ruled trade with the Ainu and Imperial Russia, while Satsuma in Kyshu controlled trade with the kingdom of Rykya and trade with them with Qing China. analysis. Japanese tax law does not specifically address whether server transactions constitute a taxable presence (permanent institution) in Japan.