(As of March, 2009)
| Firm | Analyst |
| Daiwa Institute of Research Ltd. | Hidemitsu Umebayashi |
| Deutsche Securities Inc. | Yoshikazu Higurashi |
| KBC Securities Japan | Yoshie Nakao |
| Merrill Lynch Japan Securities Co., Ltd. | Takashi Enomoto |
| Nomura Securities Co.,Ltd. | Huang Leping |
| Shinko Securities Co., Ltd. | Masao Soeya |
This list is made by Arisawa based on information available to the company. Please note that it is possible that there are other analysts making reports on Arisawa, and that the table does not always show the most updated list of the analysts covering Arisawa.
Analysts, irrespective of whether they are listed or not listed in this table, exercise their own judgment in their analysis of Arisawa's performance, businesses, products and technologies, and make forecasts. Please be aware that neither Arisawa nor its management is involved in any process of making these forecasts. Arisawa does not endorse or support the estimates, opinions and recommendations of the analysts listed here, nor does the company guarantee their accuracy.
When making investment decisions, any reliance on these reports is at the investor's own discretion.
Analysts, irrespective of whether they are listed or not listed in this table, exercise their own judgment in their analysis of Arisawa's performance, businesses, products and technologies, and make forecasts. Please be aware that neither Arisawa nor its management is involved in any process of making these forecasts. Arisawa does not endorse or support the estimates, opinions and recommendations of the analysts listed here, nor does the company guarantee their accuracy.
When making investment decisions, any reliance on these reports is at the investor's own discretion.
