n 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% Average implied up/downside: 18% * Not covered by

n 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% Average implied up/downside: 18% * Not covered by

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 -6% Shipping Kawasaki Kisen 225 Buy 330 47% 234 -4% Average implied up/downside: 26% -0.8% Not covere

n 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% Average Implied up/downside: 18% Not covered by 08