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Analyst Coverage

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Firm Analyst
Barclays Capital Japan Masahiro Nakanomyo, Makoto Bizen
BNP Paribas Securities (Japan) Ltd. Yoshitsugu Yamamoto
Daiwa Securities Co.Ltd. Hirokazu Mitsuda, Yui Mikami
JP Morgan Securities Japan Co., Ltd. Hisashi Moriyama
Mito Securities Co.,Ltd. Keita Wakabayashi
Morgan Stanley MUFG Securities, Co., Ltd. Kazuo Yoshikawa, Ryotaro Hayashi
Nomura Securities Co., Ltd.
Tetsuya Wadaki
Okasan Securities Co., Ltd.
Kazumasa Kubota

(In alphabetical order)

The analysts listed above have authored reports on Hitachi High-Technologies Corporation (Hitachi High-Tech) during the past one year period that could be confirmed by Hitachi High-Tech as of October 18, 2012.
Any opinions, forecasts or estimates of their reports do not represent opinions, forecasts or estimates of Hitachi High-Tech or its management. Hitachi High-Tech has not implied the endorsement of or concurrence with information contained in their reports nor affirms them.

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