< The 2015 All-Japan Research Team
Taro Ishihara
Daiwa Securities Group
First-place appearances: 0
Total appearances: 3
Analyst debut: 2013
After two years in third place, Taro Ishihara of Daiwa Securities Group rises to No. 2. The analyst, 41, is upbeat about domestic broadcasters’ prospects for the fiscal year that began this month. Given projected improvements to the Japanese economy, “the performance of Japanese companies should be good, so corporate spending will increase,” he says. “The ad market will be better than last year, and broadcasting stock will perform well.” In addition, the sector will be buoyed by “the weak yen, wage hikes and no impact from [the consumption] tax hike.” Among the 20 names Ishihara monitors, Nippon Television Network Corp. is a favorite. The Tokyo-based company’s DVD-packaging subsidiary and subscription video-on-demand business, acquired from U.S. streaming services provider Hulu in the spring of 2014, are poised to trim losses, he believes. Moreover, both units enjoy healthy viewer ratings, notes Ishihara, and are well positioned to increase spot ad unit prices.