Analyst Coverage

Showa Denko is followed by the analysts listed below. (as of October 2018)

IwaiCosmo Securities Co., Ltd. Kazuyoshi Saito
SMBC Nikko Securities Inc. Shinobu Takeuchi
SBI Securities Co., Ltd. Masami Sawato
Jefferies Japan Ltd. Yoshihiro Azuma
Citigroup Global Markets Japan Inc. Atsushi Ikeda
Shuhei Oba
Daiwa Securities Co., Ltd. Hidemitsu Umebayashi
Nomura Securities Co., Ltd. Yifan Zhang
Mizuho Securities Co., Ltd. Mikiya Yamada
Merrill Lynch Japan Securities Co., Ltd. Takashi Enomoto

Note: Corporate names are listed in Japanese syllabic order. Please note that any opinions, estimates or forecasts regarding Showa Denko's performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of Showa Denko or its management. Showa Denko does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.

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