Analyst Coverage

As of January 1, 2021

Company (Alphabetical order) Analyst
BofA Securities, Inc. Paul Dewberry
CLSA Securities Japan Co., Ltd. Kazue Yanagisawa
Goldman Sachs Japan Co., Ltd. Takashi Miyazaki
ICHIYOSHI RESEARCH INSTITUTE INC. Masatoshi Nagata
IwaiCosmo Securities Co.,Ltd. Tomoaki Kawasaki
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Yoko Nakayama
Katsumi Arai
Mizuho Securities Co., Ltd. Kazuki Furuyama
Nomura Securities Co., Ltd. Kyoichiro Shigemura


Disclaimer

This list is based on our standards using information available to us as of the date of publication. Therefore, it should not be construed that the list is a complete list of analysts, that we support or sponsor any of these analysts, nor that the information is the latest.

The list is prepared solely for the purpose of providing investors with information on analysts who analyze and forecast the business performance of SMS and the institutions they belong to, constituting neither a solicitation nor an offer to buy/sell the shares of SMS.

Each analyst analyzes our performance, businesses, services, etc., and forecasts our performance based on his/her individual judgment. Neither SMS nor our management is involved in any part of this process. We do not support or guarantee any forecasts, opinions, or recommendations by these analysts.

If you actually intend to invest, please make such decisions based on your own judgment and responsibility.