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Analyst Coverage

As of March 25, 2016
In alphabetical order of company names

Firm Analyst
SMBC Nikko Securities Inc. Kunihiro Matsumoto
SBI Securities Co., Ltd. Koji Endo
T. I. W., Inc. Satoru Takada

The above list is provided only for the purposes of informing investors of the names of analysts and related brokerage firms that provide analyses and forecasts of Akebono's business performance.

Analysts are independent of Akebono. Analysts exercise their own judgment in their analysis of Akebono's finances, performance results, business activities and technologies, the operating environment, and economic trends, and independently forecast Akebono's results. Neither Akebono nor its management is involved in these processes in any way.

This list may not be complete and is subject to change as companies add or delete coverage of Akebono. This list is not intended to induce or recommend the purchase or sale of Akebono's shares. Furthermore, it is possible that not all of the information provided by these analysts is current and there may be inconsistencies.

Akebono does not distribute copies of analysts' reports, and any reliance by investors on these reports is at their own risk.