[Translation from Japanese to English ] Since it is calculated assuming a period of time until exit and a valuation, ...

Original text

Exitするまでの期間とValuationを想定して計算されるため、最も性質の近いアーンアウトとして表現している。また、通常のアーンアウトは目標達成時に対価が支払われるが、EOPは先払い(先価値載せ)を意味させるためプレミアムと表現している。
- 金額は必ずREO＜SOになるように設計（DCF）されている。そのため、EOPには時間が経つほど下げ圧力がかかる。

Translation / English

Since it is calculated assuming a period of time until exit and a valuation, it is expressed as an earnout, which is closest in nature to an exit. In addition, while a normal earnout is paid when the target is achieved, an EOP is expressed as a premium because it implies payment in advance (advance value placement).
- The amount is always designed (DCF) to be REO<SO. Therefore, the EOP is subject to downward pressure as time goes by.

Translation / English

It is calculated assuming the period and valuation until exit, so it is expressed as an earn-out that is most similar in nature. In addition, whilst in a normal earn-out, compensation is paid when the target is achieved, the EOP is expressed as a premium because it implies payment in advance (upfront value).
- The amount is designed (DCF) so that REO < SO. As a result, EOP will come under downward pressure as time passes.