Analyst Coverage

List of analysts of securities companies and research companies who make recommendations and reports of Toshiba's performance, etc

Firm	Analyst
Credit Suisse Securities (Japan) Limited	Hideyuki Maekawa
Daiwa Institute of Research Ltd.	Masaharu Sato
Deutsche Securities Inc.	Takeo Miyamoto
Goldman Sachs (Japan) Ltd.	Ikuo Matsuhashi
J.P. Morgan Securities Asia Pte. Limited	Yoshiharu Izumi
Macquarie Securities (Japan) Ltd.	Damian Thong
Merrill Lynch	Simon Woo
Mitsubishi UFJ Securities Co., Ltd.	Yukihiko Shimada
Mizuho Securities Co., Ltd.	Shuichi Ide
Morgan Stanley Japan Securities Co., Ltd.	Kazuo Yoshikawa
Nikko Citigroup Limited	Yohei Kanazawa/Shinji Harada
Nomura Securities Co., Ltd. Financial & Economic Research Center	Masaya Yamasaki
UBS Securities Japan Ltd.	Hitoshi Shin

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 Toshiba, and that the table does not always show the most updated list of the analysts who cover Toshiba.

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 Toshiba's performance made by these analysts are theirs alone and not those of Toshiba's or its management's. Toshiba 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 Toshiba's performance, businesses, products and technologies, and make forecasts regularly and irregularly. Please be aware that Toshiba 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.