Analyst Coverage

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(Correct as of July 2014)

Company name Analyst name
Barclays Securities Japan Ltd. Masahiro Nakanomyo
BNP Paribas Securities (Japan) Ltd. Kunihiko Kanno
Citigroup Global Markets Japan Inc. Masahiro Shibano
Daiwa Securities Co., Ltd Hirokazu Mitsuda
Goldman Sachs Japan Co., Ltd. Toshiya Hari
JPMorgan Securities Japan Co., Ltd. Hisashi Moriyama
Merrill Lynch Japan Securities Co., Ltd. Sotaro Takahashi
Morgan Stanley MUFG Securities Co., Ltd. Masahiro Ono
Nomura Securities Co., Ltd.
Global Research Division
Tetsuya Wadaki
Okasan Securities Co., Ltd. Kazumasa Kubota
QBR Corp.
Quick Business Research Institute
Masahiro Hosoya
SMBC Nikko Securities Inc. Hirosuke Takayama

The above-mentioned securities analysts are those confirmed as writers of reports on Epson. Please note the possibility that some analysts who cover Epson may not be included on the list, and that recent changes may not be reflected in the list.

The purpose of the information on this list is solely to provide information about analysts who analyze and forecast Epson's financial results. It is not intended as a solicitation to make investments.

Please note that any opinions or forecasts regarding Epson's financial results, businesses, products and technologies made by analysts are theirs alone. These opinions, including those about historical data, do not necessarily represent the views of Epson. Providing the above list does not indicate that Epson endorses or guarantees the opinions or forecasts of these analysts.

Any investments should be made according to your own judgment and at your own responsibility.