Analyst Coverage

List of analysts of securities companies and research companies who make recommendations and reports of Fujifilm's performance, etc.

As of Oct. 23, 2008

In alphabetical order of company names

Firm	Analyst
Credit Suisse Securities (Japan) Limited	Kunihiko Kanno
Daiwa Institute of Research Ltd.	Hirokazu Mitsuda
Deutsche Securities Inc.	Yoshikazu Higurashi, Tomoko Kimura
Goldman Sachs Japan Co., Ltd.	Shin Horie, Toshiya Hari
JP Morgan Securities Japan Co., Ltd.	Hisashi Moriyama
KBC Securities Japan	Joel Scheiman
Merrill Lynch Japan Securities Co., Ltd.	Ryohei Takahashi
Mitsubishi UFJ Securities Co., Ltd.	Masahiro Nakanomyo, Mitsuko Miyasako
Mizuho Investors Securities	Mitsuhiro Osawa
Mizuho Securities Co., Ltd.	Ryosuke Katsura
Morgan Stanley Japan Securities Co., Ltd.	Hiroshi Yoshihara
Nikko Citigroup Limited	Masahiro Shibano
Nomura Securities Co., Ltd.	Shiro Mikoshiba
Okasan Securities Co., Ltd.	Kazumasa Kubota
UBS Securities Japan Ltd	Yoshitsugu Yamamoto

The above list is provided only for the purposes of informing investors of the names of analysts and related brokerage firms that provide analyses and forecasts of Fujifilm's business performance.

Analysts are independent of Fujifilm. Analysts exercise their own judgment in their analysis of Fujifilm's finances, performance results, business activities and technologies, the operating environment, and economic trends, and independently forecast Fujifilm's results. Neither Fujifilm nor its management is involved in these processes in any way.

This list may not be complete and is subject to change as companies add or delete coverage of Fujifilm. This list is not intended to induce or recommend the purchase or sale of Fujifilm's shares. Furthermore, it is possible that not all of the information provided by these analysts is current and there may be inconsistencies.

Fujifilm does not distribute copies of analysts' reports, and any reliance by investors on these reports is at their own risk.