(As of May 2025, company names in alphabetical order, and titles omitted from analyst names)

• ※The securities companies listed above issue reports concerning J. Front Retailing based on the information they collect from J. Front Retailing regularly. The analysts listed above are subject to change due to their transfer and other reasons. Please note that it is possible that not all the information is the latest available. There may be other analysts following J. Front Retailing and this list may not fully reflect the transfer of analysts.
• ※This list is posted solely for the purpose of providing investors with information on the analysts who analyze and forecast the performance of J. Front Retailing and the institutions they belong to and it constitutes no solicitation to buy or sell the shares of J. Front Retailing. J. Front Retailing does not endorse or guarantee any forecasts, opinions or recommendations made by these analysts.
• ※Each analyst analyzes the performance and business of J. Front Retailing and forecasts its performance based on his/her independent judgment. J. Front Retailing is not involved in any part of this process.
• ※If you actually intend to invest, please make such decisions based on your own judgment and responsibility.

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