< The 2015 All-Japan Research Team

Total appearances: 9

Analyst debut: 2006

Falling from first place back to the No. 2 spot he earned in 2013 is Mikiya Yamada of Barclays. The analyst publishes on 21 Japanese chemicals companies while monitoring an additional 20 names, and “whenever I need to understand a company’s competitive strengths and weaknesses, he is the one I contact,” attests one loyalist. In February, Yamada downgraded Tokyo-based Asahi Kasei Corp. from overweight to equal weight, deeming shares of the maker of petrochemicals, resins and rubber fairly valued at ¥1,205.50. The stock had advanced 49.6 percent and outpaced its domestic peers by 8.9 percentage points since he turned bullish in December 2013. It subsequently tumbled 2.4 percent, to close at ¥1,176.50 in late March, while the sector inched up 3.2 percent. Yamada’s made a similar move on Taiyo Nippon Sanso Corp., which also is headquartered in Tokyo. He lowered his rating on the industrial-gases provider from overweight to equal weight in July 2014, largely on valuation. Over the trailing 12-month period, the shares had indeed outperformed, jumping 26.9 percent while the sector climbed 5.1 percent. Although Taiyo Nippon’s stock kept rising, closing at ¥1,176.50 in late March after a gain of 30 percent, Japan’s chemicals shares overall soared 40.5 percent during the same period.