EFTA01446869

JE Basket Sector Company Current Price DB Rating DB Price Target % change to target Price as of 12/17/13 % vs. current Financials Sumitomo 4693 Buy 6050 29% 5030 -7% Insurance Mitsui Fudosan 3178 Hold 3900 23% 3385 -7% Insurance Dai-ichr Life 1458 Buy 1940 33% 1620 -11% Consumer Seven & I Holdings 3837 Buy 4700 22% 3840 0% Consumer Unicharm* 5420 NA 6596 22% 6500 -20% Exporters Sumitomo Electric* 1540 NA 1772 15% 1638 -6% Exporters Toyota 5830 Buy 8000 37% 6100 -5% Exporters Japan Tobacco 3138 Buy 4200 34% 3440 -10% Exporters Hitachi* 770 NA 912.5 19% 752 2% Advertising Dentsu* 3755 NA 4309 15% 4200 -12% 25% -7.5% * Not covered by DB. Price target reflects Bloomberg Average target. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0101285 SDNY_GM_00247469 EFTA01446869