List of analysts from securities companies and research firms who make recommendations and reports concerning Renesas Electronics' business performance, etc. (in alphabetical order)

(as of January 2018)

Citigroup Global Markets Japan
Takero Fujiwara
Credit Suisse Securities (Japan)
Hideyuki Maekawa
Daiwa Securities Co., Ltd.
Toru Sugiura
Deutsche Securities, Inc.
Yu Yoshida
Goldman Sachs (Japan)
Ikuo Matsuhashi
J.P. Morgan Securities Japan
Masashi Itaya
Macquarie Capital Securities (Japan)
Damian Thong
Merrill Lynch Japan Securities
Mikio Hirakawa
Mitsubishi UFJ Morgan Stanley
Takeo Miyamoto
Mizuho Securities
Yoshitsugu Yamamoto
Morgan Stanley MUFG Securities
Kazuo Yoshikawa
Nomura Securities
Masaya Yamasaki
SMBC Nikko Securities
Hiroharu Watanabe
UBS Securities Japan
Kenji Yasui

The above-mentioned analysts are those who we confirmed as writers of reports on Renesas Electronics. This list is subject to change as firms add or delete coverage of Renesas Electronics. Please note it is possible that there are other analysts who perform analyses of Renesas Electronics, and that the table does not always show the most updated list of such analysts.

The information in this table is solely for informational purposes, and is not intended as a solicitation to make investments. Please note that any opinions, estimates or forecasts regarding Renesas Electronics' historical or predicted performance made by the analysts at these firms are theirs alone and do not represent opinions, forecasts or predictions of Renesas Electronics or its management. Renesas Electronics does not by listing these firms imply its endorsement of or concurrence with such forecasts, opinions or recommendations.

Analysts examine Renesas Electronics' performance, businesses, products and technologies, and make forecasts based on their independent judgments. Please be aware that neither Renesas Electronics nor its management is in any way involved in this process.

If you actually intend to trade stock, please make such decisions in accordance with your own judgment and responsibility.