Analyst Coverage

List of analysts of securities companies and research companies who make recommendations and reports of Anritsu's performance, etc
(In alphabetical order, omitting respective titles from the names.)

Equity

Firm	Analyst
Aizawa Securities Co., Ltd.	Yoshitsugu Sasaki
Cosmo Securities Co., Ltd.	Hiroshi Torii
Daiwa Securities Capital Markets Co.Ltd.	Tatsuhiko Ikeda Masaharu Sato
Ichiyoshi Research Institute Inc.	Hiroshi Naya
JPMorgan Securities Japan Co.,Ltd	Yushi Kawamoto
Macquarie Capital Securities (Japan) Limited	George Chang
Marusan Securities Co.,Ltd.	Yuta Kenmei
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.	Yoshihito Hasegawa
Mizuho lnvestors Securities Co., Ltd.	Nobuo Kurahashi Yuichi Ishida
Mizuho Securities Co., Ltd.	Yusuke Hori
Nomura Securities Co., Ltd.	Chikai Tanaka
Okasan Securities Co., Ltd.	Maya Tanaka Tomoyuki Fujii
QUICK Business Research Institute	Masahiro Hosoya
Shared Research Inc.	Oleg Zuravljov Naoki Shoji
SMBC Friend Research Center Ltd.	Hiroshi Sakai
SMBC Nikko Securities Inc.	Ken Murakoshi Yukihiko Shimada
The Tachibana Securities Co., Ltd.	Tsunenori Ohmaki
Tokai Tokyo Research Center Co.,Ltd.	Haruo Sato
Toward the Infinite World, Inc	Takao Hattori

Debt

Firm	Analyst
Nomura Securities Co., Ltd.	Atsushi Uno
UBS Securities Japan Ltd.	Fumihito Gotoh

Note

This list is subject to change as coverage is either added or dropped by a firm. Please note it is possible that there are other analysts who make an analysis on Anritsu, and that the table does not always show the most updated list of the analysts who cover Anritsu. The information in this table is solely for informational purposes, and is not intended as a solicitation to make investments. Estimates, opinions, and forecasts regarding Anritsu's performance made by these analysts are theirs alone and not those of Anritsu's or its management's. Anritsu does not imply its endorsement of or concurrence with such estimates, opinions, recommendations and information. Analysts, irrespective of who are listed or not listed in this table, analyze Anritsu's performance, businesses, products and technologies, and make forecasts regularly and irregularly. Please be aware that Anritsu nor its management is not involved in any process of making them. If you actually intend to trade stock, please make such stock traded in accordance with your own judgment.