< The 2016 All-Japan Research Team
Yuji Matsumoto
Nomura
First-place appearances: 0
Total appearances: 7
Team debut: 2010
For a second straight year, Yuji Matsumoto of Nomura captures second place, in part thanks to his “astute and timely reports on earnings, along with his ability to read the overall markets,” as one fund manager attests. “He always makes himself available to provide accurate data upon request.” Sanyo Special Steel Co. — a Hyogo-headquartered manufacturer of such specialty products as bearings, motor shafts, pipes and processed stainless steel sheets — is among the analyst’s preferred names. The company is reaping substantial benefits from depressed oil prices, which are lowering the costs of generating electricity, an important input of steelmaking, he points out. Increasing demand for its bearings should serve as a catalyst over the medium term, as well. As of mid-March the shares were trading at ¥526; they are rated buy and have a target price of ¥685. Matsumoto, 44, also likes Osaka’s Sumitomo Electric Industries, citing robust demand for the diversified manufacturer’s myriad products, such as automotive wiring harnesses for carmakers. In addition, the “solid business environment” in optical fibers and components should further boost sales, he reports. Sumitomo’s stock earns a price objective of ¥1,905, implying a 42.1 percent upside to its value in mid-March.