Analyst coverage

As of September 4, 2025

Institution	Analyst
BofA Securities	Kenjin Hotta
CLSA Securities Japan Co., Ltd.	Morten Paulsen
J.P. Morgan Securities Japan Co., Ltd.	Tatsuya Maruyama
QBR Corp.	Koji Hiiragi
SBI SECURITIES Co., Ltd.	Masayasu Noguchi
SMBC Nikko Securities Inc.	Satoshi Taninaka
UBS Securities Japan Co., Ltd.	Tsubasa Sasaki
Okasan Securities Co., Ltd.	Toshiharu Morota
Goldman Sachs Japan Co., Ltd.	Yuichiro Isayama
Jefferies Japan Limited	Sho Fukuhara
Citigroup Global Markets Japan Inc.	Takahiro Inoue
Daiwa Securities Co., Ltd.	Hirosuke Tai
Tokai Tokyo Intelligence Laboratory Co., Ltd	Mitsuyuki Oodaira
Nomura Securities Co., Ltd.	Boqiong Wang
Macquarie Capital Securities (Japan) Ltd.	Wendy Pan
Morgan Stanley MUFG Securities Co., Ltd.	Lisa Jiang

Notes

・The list above was made of analysts who we confirmed have issued reports about Yaskawa Electric in the past year.
Please note that there may be analysts who are not listed above, and that the information in the list may not be updated.
・The list above is provided solely for the purpose of giving investors information on the financial institutions or analysts that make an analysis or forecasts of Yaskawa Electric’s performance.
The list does not imply Yaskawa Electric’s endorsement of or concurrence with the information, conclusions or recommendations made by these analysts.
Yaskawa Electric does not review analysts’ reports for factual accuracy.
・Use of or reliance on these reports is at the risk of the individual.