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Analyst Coverage of Dentsu
Company / Institution Analyst
Credit Suisse Securities (Japan) Limited Takashi Murakami
Daiwa Institute of Research Ltd. Jun Hasebe
Deutsche Securities Limited, Tokyo Takayoshi Koike
Goldman Sachs (Japan) Ltd. Kenichiro Yoshida
J.P. Morgan Securities Eiji Maeda
Merrill Lynch Japan Securities Co., Ltd. Yoshiyuki Kinoshita
Mito Securities Co., Ltd. Jyusaku Matuo
Mizuho Investors Securities Co., Ltd. Hiroshi Suyama
Mizuho Securities Co., Ltd. Yuichi Sato
Morgan Stanley Japan Limited Hironori Tanaka
Nikko Citigroup Limited Soichiro Fukuda
Okasan Securities Co., Ltd. Masashi Morita
Shinko Securities Co., Ltd. Tomohiko Okugawa
UBS Securities Japan Ltd. Shinsuke Iwasa

Note: Companies and institutions are listed in alphabetical order.
The analysts listed above are equity analysts who follow Dentsu Inc. as of November 13, 2007. There may be other analysts currently publishing research on Dentsu of which the Company is not aware who are not included in the list above.

Please note that any opinions, estimates or forecasts regarding Dentsu's performance made by these analysts are theirs alone and do not represent the opinions, forecasts or predictions of Dentsu or its management.

Dentsu does not by the inclusion of these analysts' names herein imply its endorsement of or concurrence with information, conclusions or recommendations published thereby. Your use or reliance on such information, conclusions or recommendation is at your own risk.
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