JAPAN CAPITAL MARKETS LEAGUE TABLES FY 2019 FY 2019 MANAGER RANKINGS JAPAN CAPITAL MARKETS The Bloomberg Capital Markets Tables represent the top arrangers, bookrunners and advisors across a broad array of deal types including loans, bonds, equity and M&A transactions; according to Bloomberg standards. LEAG<GO> for a full range of league tables MA<GO> for a full range of merger & acquisition tables NI LEAG CRL<GO> or http://www.bloomberg.com/ for a full range of market-specific league table publications Due to the dynamic nature of the Professional Service product, league table rankings may vary between this release and data found on the Bloomberg Professional Service. DATA SUBMISSIONS AND QUERIES Contact Phone Email Equities Shinnosuke Taguchi +81 3 3201 3302 [email protected] Fixed Income Mufei Gao +81 3 3201 8815 [email protected] Loans Soomi Oh +65 6231 3428 [email protected] © 2020 Bloomberg Finance L.P. All rights reserved. Bloomberg Japan Capital Markets | FY 2019 Japan Domestic Corporate Bonds (Fiscal Year): Industry Breakdown Japan Domestic Corporate Bonds (Fiscal Year) 12% FY 2019 FY 2018 29% 9% Mkt Volume (JPY Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) 9% Mizuho Financial 1 22.936 3,580,473 436 1 25.597 -2.661 Morgan Stanley 2 19.632 3,064,638 380 4 17.063 2.569 13% 15% Sumitomo Mitsui Financial 3 18.654 2,912,057 438 5 16.839 1.815 13% Daiwa Securities 4 17.932 2,799,323 408 3 17.379 0.553 Nomura 5 16.863 2,632,411 343 2 19.955 -3.092 Financials 29% SBI Holdings Inc/Japan 6 0.876 136,757 9 7 0.552 0.324 Consumer Discretionary 15% Shinkin Central Bank 7 0.845 131,955 40 6 0.929 -0.084 Utilities 13% Goldman Sachs 8 0.768 119,900 26 9 0.336 0.432 Industrials 13% Tokai Tokyo Securities Co 9 0.672 104,867 40 8 0.449 0.223 Materials 9% Ltd Communications 9% Okasan Securities Group Inc 10 0.237 36,944 21 11 0.186 0.051 Others 12% BofA Securities 11 0.232 36,144 11 10 0.216 0.016 Shinsei Bank Ltd 12 0.173 27,000 6 14 0.107 0.066 Aozora Bank Ltd 13 0.075 11,667 3 12 0.163 -0.088 Japan Domestic Corporate Bonds (Fiscal Year): Manager JP Morgan 14 0.064 10,000 2 - - 0.064 Rankings History Citi 15 0.031 4,865 4 13 0.153 -0.122 BNP Paribas 16 0.010 1,500 1 16 0.032 -0.022 2019 2018 2017 - - - - - - - - 30 - - - - - - - - ) % 20 - - - - - - - - ( e r a - - - - - - - - h S t e k TOTAL 100% 15,610,500 662 100% r a 10 M This table consists of debt & preferred securities that are denominated in Japanese Yen, with a market type of "Domestic". This excludes asset- backed securities, bonds with warrants, government issuers, structured notes, Zaito bonds and convertible securities. There is a minimum 0 l l a y a s ra n i le i ie u a c n c it p threshold of 12 months for maturities, call or put periods and JPY 6MMM minimum amount for self-led securities. Please see League Table n a n r m a a t a u o /J in S in c N c F F e n n i S I Standards and Guidelines for further details. o a u s h rg s a g u o it iw n iz a i M M ld M o D o m H o I it B m S u S Bloomberg League Table Reports Page 1 Bloomberg Japan Capital Markets | FY 2019 Japanese Zaito Agency Bonds (Fiscal Year): Industry Breakdown Japanese Zaito Agency Bonds (Fiscal Year) FY 2019 FY 2018 Mkt Volume (JPY Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Morgan Stanley 1 22.654 541,215 78 5 17.396 5.258 Sumitomo Mitsui Financial 2 20.355 486,289 85 4 18.814 1.541 Mizuho Financial 3 19.104 456,400 79 1 21.750 -2.646 99% Nomura 4 18.931 452,266 85 2 20.766 -1.835 Daiwa Securities 5 18.088 432,114 72 3 19.443 -1.355 Government 99% Tokai Tokyo Securities Co 6 0.293 7,000 2 7 0.368 -0.075 Others 1% Ltd Shinkin Central Bank 7 0.186 4,444 2 6 1.116 -0.930 BNP Paribas 8 0.179 4,270 1 - - 0.179 Japanese Zaito Agency Bonds (Fiscal Year): Manager Goldman Sachs 9 0.126 3,000 1 8 0.348 -0.222 Rankings History Okasan Securities Group Inc 10 0.084 2,000 1 - - 0.084 - - - - - - - - 2019 2018 2017 25 - - - - - - - - - - - - - - - - 20 ) % ( - - - - - - - - e r 15 a h S - - - - - - - - t e k 10 r - - - - - - - - a M - - - - - - - - 5 - - - - - - - - 0 y l l a s d e ia ia r e t - - - - - - - - l c c u ti L n n n m ri o ta a a o u C S in in N c F F e s n i S ie - - - - - - - - a u o it rg s h a r o it u iw u iz a c M M e o M D S o TOTAL 100% 2,389,000 131 100% m y to k i o m T u i a S k o T This table consists of Zaito agency debt & preferred securities issued by Japanese issuers and denominated in Japanese Yen. This excludes bonds with warrants, convertible securities, credit-linked notes and structured notes. There is a minimum threshold of 12 months for maturities, call or put periods and JPY 6MMM minimum amount for self-led securities. Please see League Table Standards and Guidelines for further details. Bloomberg League Table Reports Page 2 Bloomberg Japan Capital Markets | FY 2019 Japan Municipal Bonds (Fiscal Year): Industry Breakdown Japan Municipal Bonds (Fiscal Year) FY 2019 FY 2018 Mkt Volume (JPY Deal Prev Prev Mkt Mkt Share Firm Rank Share(%) Mln) Count Rank Share(%) Chg(%) Nomura 1 21.694 510,885 104 1 22.138 -0.444 Sumitomo Mitsui Financial 2 17.595 414,356 86 4 17.168 0.427 100% Daiwa Securities 3 17.389 409,514 83 2 19.144 -1.755 Mizuho Financial 4 14.733 346,974 74 3 17.833 -3.100 Morgan Stanley 5 12.955 305,085 58 5 11.023 1.932 Government 100% Tokai Tokyo Securities Co 6 6.537 153,957 36 6 7.136 -0.599 Ltd Goldman Sachs 7 4.675 110,103 20 7 2.774 1.901 Japan Municipal Bonds (Fiscal Year): Manager Rankings Shinkin Central Bank 8 1.330 31,326 9 8 1.278 0.052 History Okasan Securities Group Inc 9 1.210 28,500 8 10 0.438 0.772 BNP Paribas 10 1.002 23,600 5 12 0.088 0.914 2019 2018 2017 25 Barclays 11 0.879 20,700 5 9 0.652 0.227 - - - - - - - - 20 ) % ( - - - - - - - - e r 15 a h S - - - - - - - - t e k 10 r - - - - - - - - a M - - - - - - - - 5 - - - - - - - - 0 a l s l y d r ia e ia e t - - - - - - - - u c ti c l L m n ri n n o o a u a ta C N in c in S F e F s i S n ie - - - - - - - - u o a it s a h rg r it iw u o u a iz c M M e o D M S o - - - - - - - - m y to k i o m T u i a S k TOTAL 100% 2,355,000 163 100% o T This table consists of syndicated securities issued by Japanese local governments, denominated in Japanese Yen, with a "Domestic" market type. This excludes privately placed and citizen participatory-type securities. Only securities fully issued through a syndication process are eligible for LEAG credit, therefore joint local government securities are excluded. Please see League Table Standards and Guidelines for further details. Bloomberg League Table Reports Page 3 Bloomberg Japan Capital Markets | FY 2019 Japan Samurai Bonds (Fiscal Year): Industry Breakdown Japan Samurai Bonds (Fiscal Year) 5% FY 2019 FY 2018 Firm Rank Mkt Share(%) Volume (JPY Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) 51% 44% Sumitomo Mitsui Financial 1 26.711 291,733 36 2 18.998 7.713 Mizuho Financial 2 22.661 247,500 34 1 21.471 1.190 Nomura 3 21.611 236,040 30 5 12.045 9.566 Daiwa Securities 4 16.288 177,893 25 3 17.902 -1.614 Morgan Stanley 5 6.362 69,490 16 4 14.968 -8.606 HSBC 6 2.102 22,960 4 6 4.060 -1.958 Financials 51% Citi 7 1.373 15,000 2 8 1.897 -0.524 Government 44% Natixis 8 1.340 14,640 4 7 2.467 -1.127 Others 5% BNP Paribas 9 1.003 10,960 3 15 0.285 0.718 Credit Agricole CIB 10 0.548 5,983 2 14 0.552 -0.004 - - - - - - - - Japan Samurai Bonds (Fiscal Year): Manager Rankings - - - - - - - - History - - - - - - - - 2019 2018 2017 - - - - - - - - 30 - - - - - - - - - - - - - - - - ) % 20 ( e - - - - - - - - r a h S - - - - - - - - t e k r a 10 - - - - - - - - M - - - - - - - - TOTAL 100% 1,092,200 40 100% 0 l l a s y ia ia r e e C c c u ti l B n n m ri n S a a o u ta H in in N c S F F e i S n u o a This table consists of globally syndicated, samurai debt securities.