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 DB. Price target reflects Bloomberg Average target. CONFIDENTIAL - PURSUANT TO F

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 DB. Price target reflects Bloomberg Average target. CONFIDENTIAL - PURSUANT TO F

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. Price target reflects Bloomberg Average target. Indicative levels, subject to