Analyst Coverage

In alphabetical order（as of March 2025）

Notes

・The lists above are based on the information available to NHK Spring (“the Company”) as of the publication and include only those analysts who have provided their consent. Therefore, it should not be construed that the lists are complete lists of analysts, that the Company supports or sponsors any of these analysts, nor that the information is the latest.

・The lists are prepared solely to provide investors with information on analysts and their affiliation which analyze and forecast the business performance of the Company. These should not be construed as an offer to sell or for solicitation to buy shares of the Company.

・Analysts analyze and forecast performance, operation, products, technologies and other aspects of the Company based on their independent judgment. The Company is not involved in any part of this process. The Company does not support or guarantee any forecasts, opinions or recommendations by these analysts.

・The information expressed here does not constitute investment advice and independent advice should be sought where appropriate.