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Analyst Coverage

Information will be posted after the announcement of financial results for the first fiscal period ending August 2014.

The following is a list of analysts who cover Hulic REIT.

As of April 3, 2017

Company Analyst
Mizuho Securities Co., Ltd.  Yosuke Ohata
Daiwa Securities Co., Ltd.  Kohei Omura
SMBC Nikko Securities Inc. Hiroshi Torii
Nomura Securities Co., Ltd.  Tomohiro Araki
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Norihiko Sawano

This list is based on information available to Hulic Reit and the asset management company of Hulic Reit (hereafter “asset management company”) at the time of publication, and is prepared according to the guidelines of Hulic Reit and its asset management company. Consequently, the list may not be comprehensive or the information may be out of date by the time you read it.

Analysts included in this list and others not listed are engaged in providing analysis relating to the business results of Hulic Reit and its business, or projecting the future business results of Hulic Reit, based on judgments made independently by the analyst either periodically or on ad hoc basis. Neither Hulic Reit nor its asset management company, or their respective management teams, have had any part whatsoever in the process by which analysts form their analysis or projections. Hulic Reit and its asset management company do not in any way endorse or provide assurances concerning the projections, opinions or recommendations made by analysts.

This list is provided solely for the purpose of providing investors with information concerning companies and analysts who provide analysis or projections relating to the business results of Hulic Reit. It does not constitute a solicitation to invest in Hulic Reit.

Any investment decisions you make ultimately rest on your own judgment and are your own responsibility.

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