Analyst CoverageAnalyst Coverage

Stock & Rating Information

Company name (alphabetical order)	Analyst name (titles omitted)
SMBC Nikko Securities Corporation	Takayuki Hara
Goldman Sachs Securities Co., Ltd.	Makoto Kuroda
CLSA Securities Co., Ltd.	Hideo Noda
JP Morgan Securities Co., Ltd.	Koki Sato
Jefferies Brokerage	Hiroko Sato
Daiwa Securities Co., Ltd.	得永一樹
Nomura Securities Corporation	嚴智用
Mizuho Securities Corporation	Kazuki Koyama
Morgan Stanley MUFG Securities Co., Ltd.	Mia Nagasaka

The above list is provided to provide information on stock analysts and affiliated organizations that analyze and forecast the Company's performance, etc., and is not intended to solicit investment such as the purchase or sale of the Company's shares. In addition, we do not guarantee or agree to the information, judgments, and recommendations made by the analysts.
The above list is based on information obtained by the Company at the time of publication and has been prepared according to the Company's standards, and all information may not be up-to-date.

Firm (Alphabetical Order)	Analyst
CLSA Securities Japan Co., Ltd.	Hideo Noda
Daiwa Securities Co. Ltd.	Kazuki Tokunaga
Goldman Sachs Japan Co., Ltd.	Makoto Kuroda
Jefferies Japan Limited Tokyo Branch	Hiroko Sato
JPMorgan Securities Japan Co., Ltd.	Koki Sato
Mizuho Securities Co., Ltd.	Kazuki Oyama
Morgan Stanley MUFG Securities Co., Ltd.	Mia Nagasaka
Nomura Securities Co., Ltd.	Jiyong Oum
SMBC Nikko Securities Inc.	Takayuki Hara

The above list is provided solely for the purposes of informing the names of equity analysts and related brokerage firms that provide analyses and forecasts of GMO-PG's business performance. Accordingly, this is not a solicitation to purchase or sell shares in GMO-PG. Also, GMO-PG does not imply the endorsement of or concurrence with such information, conclusions or recommendations.
The above list is made in accordance with our standard and based on the information available at the time of writing. Consequently, there is a possibility that all of the information may not be up to date.