SEPTENI HOLDINGS CO.,LTD.SEPTENI
HOLDINGS
CO.,LTD.

Analyst Coverage

The following is a list of securities firms, other companies and research institutions making recommendations and comments on our financial results.

As of March ,2019
(Firm names in the order of alphabet / titles omitted)

Firm Analyst
CLSA Securities Japan
Hideo Noda
Daiwa Securities Co. Ltd.
Taro Ishihara
ICHIYOSHI RESEARCH INSTITUTE INC.
Hiroshi Naya
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
Masato Araki
SMBC Nikko Securities Inc.
Emi Maeda/ Eiji Maeda
Tokai Tokyo Research Institute Co., Ltd.
Yukari Housui
[Note]

This list has been prepared on the basis of information available to the Company at the time of publication in accordance with our standards. Not all the information may be the latest. For example, there may be analysts that are not included in the list. This list is published for the purpose of offering information on analysts and their organizations who are analyzing and forecasting our performance, and it is not intended to encourage or recommend any transactions of our stock.

The analysts analyze and forecast our performance at their own discretion, and the Company is not involved at all in any such process. Investors are requested to make decisions on actual investments at their own discretion and risk.

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