L-ZONE

| Equity <Company Sector> |
Macro |
| Equity <Strategy> |
Fixed Income |

11-Jul-20
Yaskawa Electric(6506 JP)

Op profit far overshot target on firm's own･･･

10-Jul-20
Fast Retailing(9983 JP)

FY20 guidance cut but pickup now gaining mo･･･

09-Jul-20
Bellsystem24 Holdings(6183 JP)

1Q op profit up y/y; FY20 guidance also cal･･･

10-Jul-20
Seven & i Holdings(3382 JP)

1Q results positive, solid earnings power u･･･

10-Jul-20
Analyst Seminar (Summer 2020)

Signs of bottoming, but mixed picture for r･･･

10-Jul-20
Japan Stock Supply/demand Update (Jul week 2)

Foreigners net sellers for fourth straigh･･･

08-Jul-20
Hong Kong Economy

The questions hanging over the peg

09-Jul-20
May 2020 Machinery Orders

Manufacturing suffers major decline, but ･･･

09-Jul-20
China Economy

Headline CPI for June up slightly to 2.5%･･･

03-Jul-20
Japan Stock Supply/demand Update (Jul week 1)

Foreigners net sellers for third week run･･･

09-Jul-20
Fall 2020 Changes to Nikkei Average Components

Suntory Beverage & Food and Yakult candidat･･･

10-Jul-20
Focus on Parent-subsidiary Listings Again?

Itochu to acquire rest of FamilyMart

13-Jul-20
Weekly Suzuki Report (10 July 2020)

Trouble for high-yield stock investors

08-Jul-20
Review of FFW for Oct-Dec FY-end Companies

Stocks with greatest weighting increases to･･･

10-Jul-20
The Suzuki Report - 9 July 2020

OECD CLIs, Economy Watchers Survey (Jun)

09-Jul-20
Daiwa's View

Background of change in BOJ stance on opera･･･

13-Jul-20
Daiwa's View

Seems like the usual risk-on at first glanc･･･

13-Jul-20
Daiwa's View

Two macro-factors that define Japan's neutr･･･

06-Jul-20
Daiwa's View

Short-term steepening pressure, long-term f･･･

06-Jan-20
Daiwa's View

Things to watch for in 2020: Part 1

| Equity <Company Sector> |
Macro |
| Equity <Strategy> |
Fixed Income |

29-Jun-20
Korea Healthcare

Sector Report: Initiation: the K-Bio era ap･･･

17-Jun-20
2020 Technology Outlook

Sector Report: Mid-year update: new cycle d･･･

11-Jul-20
Yaskawa Electric(6506 JP)

Op profit far overshot target on firm's own･･･

29-Jun-20
China Autos

Sector Report: China EV batteries: approach･･･

25-Jun-20
Investment Opinion on Real Estate Sector

Sector shares attractive for yield seekers ･･･

26-Jun-20
Japan Stock Supply/demand Update (Jun week 4)

Foreigners net sellers for second week ru･･･

29-Jun-20
Japan's Economy: Monthly Outlook (June 2020)

Expiration date for "revenge consumption"･･･

03-Jul-20
Japan Stock Supply/demand Update (Jul week 1)

Foreigners net sellers for third week run･･･

10-Apr-20
Japan's stewardship code (Second Revised Version)

Covers issues such as sustainability, bon･･･

07-Jul-20
GPIF FY19 Investment Results

Recent trends in fund allocations/withdra･･･

02-Jul-20
Japanese Market Review - June 2020

Fear of second wave in US weighed heavily; ･･･

30-Jun-20
Policy vs. Pandemic

Focus on lagging growth stocks

02-Jul-20
Japanese Market Review: 2Q 2020

09-Jul-20
Fall 2020 Changes to Nikkei Average Components

Suntory Beverage & Food and Yakult candidat･･･

07-Jul-20
GPIF Releases Overview of FY19 Investment Results

Progress investing in ESG index component c･･･

06-Jan-20
Daiwa's View

Things to watch for in 2020: Part 1

14-Feb-20
JGB Insight

Intermediate-term zone: preparation or sign･･･

29-Jun-20
Daiwa's View

YCC observations series (1): What is yield ･･･

09-Jul-20
Daiwa's View

Background of change in BOJ stance on opera･･･

06-Jul-20
Daiwa's View

Short-term steepening pressure, long-term f･･･