KAGA ELECTRONICS CO.,LTD.

Institutions	Analyst
ICHIYOSHI RESEARCH INSTITUTE INC.	Koichi Hariya
IwaiCosmo Securities Co.,Ltd.	Norikazu Shimizu
SBI SECURITIES Co.,Ltd.	Yoshihiro Ujihara

Institutions	Analyst
KYOKUTO SECURITIES RESEARCH INSTITUTE INC.	Nobuaki Tomita　　　　*Non-rating
NOMURA SECURITIES CO., LTD.	Yu Okazaki　　　　　　 *Non-rating Wataru Ishimoto
Tokai Tokyo Research Institute Co., Ltd.	Kouichirou Hagiwara　　*Non-rating

As of the publication date, we have listed the analysts we figured out. Please keep in mind that it may differ from the latest information.