List of securities companies' analysts who make recommendations and provide regular research reports on the Cookpad's businesses, performance, etc.

(as of December 31, 2018)
In alphabetical order of company name

Company Name	Analyst Name
Daiwa Securities Co.Ltd	Taro Ishihara
Haitong International Japaninvest KK	Yushi Kawamoto
ICHIYOSHI RESEARCH INSTITUTE INC.	Hiroshi Naya
Nomura Securities Co., Ltd.	Yoshitaka Nagao
Okasan Securities Co.,Ltd.	Keisuke Iwafuchi

• There may be other analysts currently researching our company not included above due to our unawareness. Please note that any opinions, estimates or forecasts regarding our performance made by these analysts are theirs alone and do not represent the opinions, forecasts or predictions of our management or the Company. We do not imply any endorsement or concurrence with information, conclusions or recommendations published by them. Use or reliance on such information, conclusions or recommendation is at your own risk.