Analyst Coverage (As of May 2025)

Firm	Analyst
SMBC Nikko Securities Inc.	Mr. Tsukasa Furuta Ms. Naomi Takagi
QUICK Corp.	Mr. Tomoaki Shinozaki
Goldman Sachs Japan Co., Ltd.	Mr. Takashi Miyazaki
Nomura Securities Co., Ltd.	Mr. Makoto Morita
Mizuho Securities Co., Ltd.	Mr. Hiroshi Saji
Morgan Stanley MUFG Securities Co., Ltd.	Mr. Tomonobu Tsunoyama
UBS Securities Japan Co., Ltd.	Mr. Rei Ihara

This list of analysts was prepared based on material that was available at the time of writing. Therefore, please note that there may be other analysts who have not been included in this list, and that some of the information may not be the latest.

Please note that the analysts have conducted their own analyses of the Company's performance, businesses, products and technologies, and have developed their own forecasts. These processes do not in any way involve the Company or the management of the Company.

Furthermore, the management of Meiji Holdings Co., Ltd. does not endorse or concur with the forecasts, opinions and recommendations of these analysts. Thus, we cannot take any responsibility regarding the consistency of such information.

The provision of this list is explicitly for the purpose of introducing analysts of external companies or research-related institutions that have undertaken analyses and forecasts of our corporate performance. This is not for the purpose of soliciting sales of the Company's stock.

Please note that decisions regarding the purchase of shares are solely up to the investors themselves.