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Stock and Bond

Japanese

Analyst Coverage

List of analysts from securities companies and research firms who make recommendations and reports concerning NEC's business performance, etc. (in alphabetical order)

(As of April 2012)
Company Name	Analyst
Citigroup Global Markets Japan Inc.	Shinji Harada
Credit Suisse Securities (Japan) Limited	Hideyuki Maekawa
Daiwa Securities Co.Ltd.	Makoto Ueno
Deutsche Securities Limited, Tokyo Branch	Takeo Miyamoto
Goldman Sachs (Japan) Ltd.	Ikuo Matsuhashi
JPMorgan Securities Japan　Co., Ltd.	Yoshiharu Izumi
Merrill Lynch Japan Securities Co., Ltd.	Mikio Hirakawa
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.	Masahiko Ishino Yoshihito Hasegawa
Mizuho Securities Co., Ltd.	Yusuke Hori
Morgan Stanley MUFG Securities Co., Ltd.	Masaharu Miyachi
Nomura Securities Co., Ltd. Financial & Economic Research Center	Masaya Yamasaki
SMBC Friend Securities Co., Ltd.	Hiroshi Sakai
SMBC NIKKO Securities Inc.	Yukihiko Shimada
UBS Securities Japan Ltd.	Kenji Yasui

The above-mentioned analysts are those who we confirmed as writers of reports on NEC Electronics. This list is subject to change as firms add or delete coverage of NEC Electronics. Please note it is possible that there are other analysts who perform analyses of NEC Electronics, and that the table does not always show the most updated list of such analysts.
The information in this table is solely for informational purposes, and is not intended as a solicitation to make investments. Please note that any opinions, estimates or forecasts regarding NEC Electronics' historical or predicted performance made by the analysts at these firms are theirs alone and do not represent opinions, forecasts or predictions of NEC Electronics or its management. NEC Electronics does not by listing these firms imply its endorsement of or concurrence with such forecasts, opinions or recommendations.
Analysts examine NEC Electronics' performance, businesses, products and technologies, and make forecasts based on their independent judgments. Please be aware that neither NEC Electronics nor its management is in any way involved in this process.
If you actually intend to trade stock, please make such decisions in accordance with your own judgment and responsibility.

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