RESEARCH ALERT-Nikko Citigroup ratings(Feb 18)

TOKYO, Feb 18 (Reuters) - The following is a list of
ratings that have been assigned by Nikko Citigroup, Nikko Citigroup said on Wednesday.
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Rating unchanged:

Shionogi & Co Ltd (4507.T) -- "1H"

DA Office Investment Corp (8976.T) -- "1L"

Frontier Real Estate Investment Corp. (8964.T) -- "1L"

Softbank Corp (9984.T) -- "1S" (target price 1800yen->1940yen)

Fujitsu Ltd (6702.T) -- "2H"

Mabuchi Motor Co Ltd (6592.T) -- "2H" (target price 3800yen->3600yen)

Tokyo Steel Manufacturing Co Ltd (5423.T) -- "2H"

Mitsubishi Chemical Holdings Corp (4188.T) -- "3M" (target price 380yen->300yen)

Fuji Heavy Industries Ltd (7270.T) -- "3M" (target price 250yen->280yen)

Mitsubishi Motors Corp (7211.T) -- "3S" (target price 65yen->50yen)
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Nikko Citigroup assigns ratings as follows:
"1L" or "Buy/Low Risk" - issues expected to outperform ETR by 10

percentage points.
"1M" or "Buy/Medium Risk" - issues expected to outperform ETR by 15

percentage points.
"1H" or "Buy/High Risk" - issues expected to outperform ETR by 20

percentage points.
"1S" or "Buy/Speculative" - issues expected to outperform ETR by 35 percentage points.
538976288
"2L" or "Hold/Low Risk" - issues expected to outperform ETR greater

than zero, but below 10 percentage points.
"2M" or "Hold/Medium Risk" - issues expected to outperform ETR greater

than zero, but below 15 percentage points.
"2H" or "Hold/High Risk" - issues expected to outperform ETR greater

than zero, but below 20 percentage points.
"2S" or "Hold/Speculative" - issues expected to outperform ETR greater

than zero, but below 35 percentage points.
"3L" or "Sell/Low Risk" - issues expected to perform less than or equal

to ETR.
"3M" or "Sell/Medium Risk" - issues expected to perform less than or

equal to ETR.
"3H" or "Sell/High Risk" - issues expected to perform less than or

equal to ETR.
"3S" or "Sell/Speculative" - issues expected to perform less than or

equal to ETR.
Expected Total Return (ETR) - expectation of total return

(projected share price appreciation

plus forcast dividend yield) within

12 months.