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Analyst Coverage

As of October, 2017

Company name Person in charge
SMBC Nikko Securities Inc. Yasuhiro Nakazawa
Credit Suisse Securities Limited Yen Ting Chen
Fumiyoshi Sakai
Citigroup Global Markets Japan Inc. Hidemaru Yamaguchi
Daiwa Securities Co. Ltd. Kazuaki Hashiguchi
Tokai Tokyo Research Center Co., LTD. Takashi Akahane
Mizuho Securities Co., Ltd. Hiroshi Tanaka
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Seiji Wakao
Morgan Stanley MUFG Securities Co., Ltd. Shohei Oda
Shinichiro Muraoka
Note:

This list is based on Nippon Shinyaku's judgments derived from the information available to Nippon Shinayku at this time. Accordingly,please note that analysts not listed above might be or all information might not be new.

Please note that the above analysts or the analysts not listed above analyze Nippon Shinyaku's performance, businesses,products,and technologies,or forecast its future performance in accordance of their own judgments at regular or irregular intervals. Those of Nippon Shinyaku or its management do not imply under any circumstances.

Nippon Shinyaku provides this information solely for the purpose of introducing the business organization or analysts/researchers forecasting or analyzing Nippon Shinyaku's performance to shareholders or investors. Nippon Shinyaku does not imply any recommendations of its estimates or opinions by the analysts/researchers. If you actually intend to trade stock,please make such stock traded in accordance with your own judgments and responsibilities.

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