Analyst Coverage

Company (in alphabetical order)	Analyst
BofA Securities Japan Co., Ltd.	Yuri Nishizaki
CLSA Securities Japan Co., Ltd.	Oliver Matthew
Daiwa Securities Co. Ltd.	Katsuro Hirozumi
Goldman Sachs Japan Co., Ltd.	-
Haitong International Japaninvest KK	Aya Hara
J.P.Morgan Securities Japan Co., Ltd.	Akiko Kuwahara
Jefferies (Japan) Limited	Mitsuko Miyasako
Macquarie Capital Securities (Japan) Ltd.	Shentao Tang
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.	Wakako Sato
Mizuho Securities Co., Ltd.	Hiroshi Saji
Morgan Stanley MUFG Securities Co., Ltd.	Haruka Miyake
Morningstar Inc.	Jeanie Chen
Nomura Securities Co., Ltd.	Yuji Ohana
Sanford C. Bernstein (Hong Kong) Limited	Melinda Hu
SMBC Nikko Securities Inc.	Shima Yamanaka
UBS Securities Japan Co., Ltd.	Hisae Kawamoto

Last update: Mar. 2, 2023

*The analysts listed above have authored reports on Shiseido during the past one year. We update this list every quarter, or when there is a change regarding coverage or a company name.

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