< The 2015 All-Japan Research Team
Yasuo Nakane
Deutsche Securities
First-place appearances: 2
Total appearances: 9
Analyst debut: 2007
Repeating in second place, Yasuo Nakane of Deutsche Securities wins particular praise from one portfolio manager for his “deep and detailed analysis” and “helpful” views on two of the sector’s major players, Sony Corp. and Sharp Corp. Nakane, 47, maintains a buy rating on Tokyo-based Sony, where management is continuing to reduce fixed costs. Thanks to its reorganization and the fast-growing semiconductors and game businesses, he envisions a rapid earnings recovery in the next two years. “Since the optimization of their portfolio is about to finish, the next step is the optimization of their organization,” he asserts. On the other hand, at Osaka’s Sharp, “drastic restructuring is badly needed. This time they may have to do some painful judgment for businesses that are not competitive, like solar cells, large-size [liquid-crystal displays, light-emitting diodes] and semiconductors,” says the researcher. Its rival Panasonic Corp., which also is headquartered in Osaka, earns a buy rating because the manufacturer delivers steady earnings growth and has in place a strategy focused on areas where it claims a competitive edge, such as autos, components, home appliances and housing. However, though the executive team is highly regarded and its cost-reduction phase is nearly complete, Panasonic has “yet to show strong revenue growth to impress investors that they are entering a regrowth phase,” Nakane cautions.