< The 2015 All-Japan Research Team
Hiroyuki Okaseri
SMBC Nikko Securities
First-place appearances: 2
Total appearances: 14
Analyst debut: 2004
No. 2 in Paper & Textiles for the past four years, and a two-time runner-up in Ceramics & Glass, Hiroyuki Okaseri of SMBC Nikko Securities earns second place in this category, which newly combines those former sectors. He is bullish about strong domestic demand and sustainable price hikes in containerboard and corrugated products, based largely on a recovery in the Japanese economy. Accordingly, he favors market leader Rengo Co., which he elevated from underperform to outperform in December 2013, deeming the shares a bargain at ¥548. That was too early, Okaseri acknowledges. They traded as low as ¥446 in August and November before regaining solid footing in January. Late last month Rengo closed at ¥513, for a loss of 6.4 percent since his upgrade that lagged the domestic broad market by 30.9 percentage points. But Okaseri, 40, who follows ten companies in the sector, still recommends the stock, believing that a price of ¥715 is justified. “He is strong on fundamentals and always provides good service,” affirms one loyalist.
