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15/Jun/2022 – Discussion for MatsukiyoCocokara & Co.

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Hibiki Path Advisors(”Hibiki”)made a presentation (link below) on June 15th, to Executive Director and Head of IR of MatsukiyoCocokara & Co.(”MatsukiyoCocokara”).

Hibiki is happy to continue to be a long-term shareholder of MatsukiyoCocokara with a strong confidence and expectation that the company, now No.1 in terms of size within the drug store sector, leads the effort to help the healthy lives of Japanese citizens in a fast aging society.

In May, during the FY 2021 analyst briefing, its first analyst presentation was revealed and we were extremely impressed with the detail and messaging of its content. We are grateful that they applied some of our ideas into their presentation and are also becoming more fond of them demonstrating confidence in its presentation style as being the no.1 player. We like it! Go MKCC!

This document does not constitute an offer, recommendation or solicitation to buy or sell any security or enter into any other transaction. Hibiki does not purport to provide any investment, financial, legal or other expert advice or recommendation in this document.

DISCUSSION MATERIAL FOR MATSUKIYO COCOKARA & CO.