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ta: https://gergm.cib.intranet.db.com/ger/document/pdf/0900b8c0877259ad.pdf 7203 JP Buy Current price 6170 Target price (11m) 8000 Upside 29% Panasonic https://gergm.ci b. i ntranet.d b.com/ger/docu ment/pdf/0900b8c08795101a.pdf (6752 JP Buy Current price 1158 Target price (12m) 1300 Upside 1
m) 280 Upside 18% Reflation is the other major theme, which should be positive for retailers and banks, where DB Research is bullish Rakuten and Resona respectively. Rakuten: https://gergm.cib.intranet.db.com/ger/document/pdf/0900b8c087a30eda.pdf 4755 JP Buy Current price 1531 Target price (12m)
gm.cib.intranet.db.com/ger/document/pdf/0900b8c087a30eda.pdf 4755 JP Buy Current price 1531 Target price (12m) 1710 EFTA00711076 Upside 12% Resona: https://ger gm. ci b i ntra n et.d b com/ger/document/pdf/0900b8c0879ce3f0.pdf 8308 JP Buy Current price 512 Target price (12m) 650 Upside 2
3 JP Equity 6180 8000 29% Retail Rukaten 4755 JP Equity 1496 1710 14% Finance Resona 8308 JP Equity 506 650 28% Consumer Electronics Panasonic 6752 JP Equity 1158 1300 12% Automation Equipment Omron* 6645 JP Equity 4105 4426 8% Shipping Kawasaki Kisen 9107 JP Equity 236 280 19
icker Current Price DB Price Target % Auto Toyota 7203 JP Equity 6180 8000 29% Retail Rukaten 4755 JP Equity 1496 1710 14% Finance Resona 8308 JP Equity 506 650 28% Consumer Electronics Panasonic 6752 JP Equity 1158 1300 12% Automation Equipment Omron* 6645 JP Equity 4105
3 JP Equity 6180 8000 29% Retail Rukaten 4755 JP Equity 1496 1710 14% Finance Resona 8308 JP Equity 506 650 28% Consumer Electronics Panasonic 6752 JP Equity 1158 1300 12% Automation Equipment Omron* 6645 JP Equity 4105 4426 8% Shipping Kawasaki Kisen 9107 JP Equity 236 280 19
icker Current Price DB Price Target % Auto Toyota 7203 JP Equity 6180 8000 29% Retail Rukaten 4755 JP Equity 1496 1710 14% Finance Resona 8308 JP Equity 506 650 28% Consumer Electronics Panasonic 6752 JP Equity 1158 1300 12% Automation Equipment Omron* 6645 JP Equity 4105
4700 22% 3840 0% Finance Resona 550 Buy 785 43% 510 7% Insurance Dai-ichi Life 1458 Buy 1940 33% 1620 -11% Consumer Electronics Panasonic 1262 Buy 1300 3% 1170 7% Electronic Equipment Hitachi* 770 NA 912.5 19% 752 2% Automation Equipment Omron* 3935 NA 4608 17% 4180
Buy 8000 37% 6100 -5% Retail Rakuten 1524 Hold 1750 15% 1491 2% Consumer Seven & I Holdings 3837 Buy 4700 22% 3840 0% Finance Resona 550 Buy 785 43% 510 7% Insurance Dai-ichi Life 1458 Buy 1940 33% 1620 -11% Consumer Electronics Panasonic 1262 Buy 1300 3% 1170
y 4700 22% 3840 0% Finance Resona 550 Buy 785 43% 510 7% nsurance Dai-ichi Life 1458 Buy 1940 33% 1620 '11% Consumer Fectronics Panasonic 1262 Buy 1300 3% 1170 7% Electronic Equipment Hitachi* 770 NA 912.5 19% 752 2% Automation E uipn-en: Omron' 3935 NA 4608 17% 418
30 Buy 8000 37% 61' -5% Retail Rakuten 1514 Hold 1750 15% 1491 2% Consumer Seven & l Holdings 3837 Buy 4700 22% 3840 0% Finance Resona 550 Buy 785 43% 510 7% nsurance Dai-ichi Life 1458 Buy 1940 33% 1620 '11% Consumer Fectronics Panasonic 1262 Buy 1300 3% 1170 7
3 JP Equity 6180 8000 29% Retail Rukaten 4755 JP Equity 1496 1710 14% Finance Resona 8308 JP Equity 506 650 28% Consumer Electronics Panasonic 6752 JP Equity 1158 1300 12% Automation Equipment Omron" 6645 JP Equity 4105 4426 8% Shipping Kawasaki Kisen 9107 JP Equity 236 280 19
icker Current Price DB Price Target % Auto Toyota 7203 JP Equity 6180 8000 29% Retail Rukaten 4755 JP Equity 1496 1710 14% Finance Resona 8308 JP Equity 506 650 28% Consumer Electronics Panasonic 6752 JP Equity 1158 1300 12% Automation Equipment Omron" 6645 JP Equity 4105
ps://cier.gm. ci b. intranet.db.com/ger/document/pdf/0900b8c0877259ad.pctf 7203 JP Buy Current price 6170 Target price (11m) 8000 Upside 29% Panasonic https://ger.gm.cib. intranet.db.com/qeddocument/pdf/0900b8c08795101a. pdf (6752 JP Buy Current price 1158 Target price (12m) 1300 Upside 12%
m) 280 Upside 18% Reflation is the other major theme, which should be positive for retailers and banks, where DB Research is bullish Rakuten and Resona respectively. Rakuten: https://ger.gm.cib.intranet.db.com/ger/document/pdf/0900b8c087a30eda.pdf 4755 JP Buy Current price 1531 Target price (12
Buy -S250k-lmm FRC E 7% (thin, buy with a limit), trading -$25.23 last - Buy 51-2mm of DXJ and/or Japanese single stocks ((Toyota, Rukaten, Resona, Panasonic, omron, Kawasaki Kisen, sell yen forward - would be done in southern Financial or southern Trust, be that acct is set up) - Buy S1-2mm china end-ma
fund) - Buy -S250k-lmm FRC E 7% (thin, buy with a limit), trading -$25.23 last - Buy 51-2mm of DXJ and/or Japanese single stocks ((Toyota, Rukaten, Resona, Panasonic, omron, Kawasaki Kisen, sell yen forward - would be done in southern Financial or southern Trust, be that acct is set up) - Buy S1-2mm
Entities connected to both Panasonic and Resona

Jeffrey Epstein
PERSON
Bloomberg L.P.
ORGANIZATION
Toyota
ORGANIZATION
Tazia Smith
PERSONConsumer Electronics
ORGANIZATION
Paul Morris
PERSONAutomation Equipment
ORGANIZATIONOmron
ORGANIZATIONKawasaki Kisen 9107 JP Equity
ORGANIZATIONDai-ichi Life
ORGANIZATIONJPY FX
ORGANIZATION
Target
ORGANIZATIONVahe Stepanian
PERSONRakuten
ORGANIZATIONDB Global Markets Research
ORGANIZATIONKawasaki Kisen
PERSON