Ichiyoshi Research Institute Inc.
Best Research House Rankings by Euromoney Ranked first in emerging stock access for five consecutive years (since 2003)
Research	Ichiyoshi Research Institute specializes in providing research on small- and medium-sized companies, covering some 300 companies listed on JASDAQ, the Tokyo Stock Exchange and the Osaka Securities Exchange and boasting some of the most intensive coverage in the industry.
Research	Ichiyoshi Research Institute has 17 experienced analysts (as of March 31, 2007) who conduct in-depth research on individual companies and perform industry sector analysis. Apart from daily research reports, it publishes the “JASDAQ Monthly” to deepen investors’ knowledge of small- and medium-sized growth companies.
Research	Ichiyoshi Research Institute also provides some of 783 companies (as of March 31, 2007) which Ichiyoshi Securities acts as co-manager with financial analysis or other consulting services.

Ichiyoshi IR Institute Inc.
Advice	Ichiyoshi IR Institute was established on July 3, 2006, to support IR activity and to provide consulting services for small- and medium-sized companies. Before the company’s establishment, such activities were conducted by Ichiyoshi Research Institute.

Ichiyoshi Investment Management Co., Ltd.
Advice	Ichiyoshi Investment Management, with \52.5 billion in assets under management (as of March 31, 2007), specializes in fund management by investing in small- and medium-sized Japanese growth companies. The company makes extensive use of information that are provided by Ichiyoshi Research Institute.
Advice	Investment strategies are devised at the weekly management meetings, based on recommendations by the investment policy committee. The company enforces strict compliance and risk management programs, as well as the disclosure of sufficient information to ensure customer understanding.