Analyst Coverage

Nippon Shokubai is covered by the analysts listed below.

Company name (alphabetical order)	Analyst name (titles omitted)
BofA Securities Japan Co., Ltd.	Takashi Enomoto
Goldman Sachs Japan Co., Ltd	Atsushi Ikeda
Kyokuto Securities Research Institute Inc.	Sanshiro Sato
Mizuho Securities Co., Ltd.	Mikiya Yamada
Nomura Securities Co.,Ltd.	Yusho Yoshitake
SBI SECURITIES Co., Ltd.	Masami Sawato

The above list is provided solely for the purpose of offering information to investors about analysts and their affiliated institutions that analyze or make forecasts regarding the Nippon Shokubai’s performance. It is not intended as a solicitation or recommendation to buy or sell the Nippon Shokubai’s stock.

Nippon Shokubai does not endorse or guarantee the forecasts, opinions, or recommendations of these analysts. Analysts independently analyze Nippon Shokubai ’s financial results, performance, business, technologies, business environment, and economic trends, and make forecasts based on their own judgment.

Please note that there may be analysts who are not included in this list, and the information may not be the most current or consistent across sources.

When making actual investment decisions, investors are requested to do so at their own discretion and responsibility.