Analyst Coverage (As of March 2023)

Firm	Analyst
SMBC Nikko Securities Inc.	Ms. Naomi Takagi
OKASAN SECURITIES CO., LTD.	Mr. Manabu Sumoge
Credit Suisse Securities (Japan) Limited	Mr. Rei Ihara
JPMorgan Securities Japan Co., Ltd.	Ms. Ami Yoshida
Daiwa Securities Co., Ltd.	Mr. Makoto Morita
Nomura Securities Co., Ltd.	Mr. Satoshi Fujiwara
Morningstar Inc.	Ms. Jeanie Chia-Chi Chen
Mizuho Securities Co., Ltd.	Mr. Hiroshi Saji
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.	Mr. Tomonobu Tsunoyama

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.