< The 2016 All-Japan Research Team

Total appearances: 2

Team debut: 2015

Yosuke Tomimatsu “doesn’t write much, but he has a deep understanding of the sector that only comes from interacting with industry leaders constantly,” one fund manager declares. The 44-year-old Bank of America Merrill Lynch analyst retains the No. 3 spot he claimed in his debut appearance last year. He monitors eight Japanese Internet companies and is advising clients that the sector is shifting away from growth dependent on a rise in number of users to a focus on increasing revenue tied to the amount of information each user consumes. “From the above perspective, we expect an integration of online and financial services, the development of large databases of online and offline purchases and the launch of sharing services, with help from deregulation,” he says. “For example, regulations on shared accommodation services, such as Airbnb, which violates Japanese laws, may well be eased, and Internet companies might then move into the business.”