< The 2015 All-Japan Research Team
Masataka Kunugimoto
Nomura
First-Place Appearances: 2
Total Appearances: 4
Analyst Debut: 2012
For a second consecutive year, Nomura researcher Masataka Kunugimoto, 37, earns first-place honors. "He's my first and last stop," one fund manager attests. "He knows the car companies and their managements inside-out, and his reports are always clear and concise, his views well argued." Kunugimoto names only one automaker a top pick for 2015, Nissan Motor Co. of Kanagawa. With showrooms full of redesigned vehicles, the manufacturer will be generating excitement among car-buyers in North American markets as it implements a face-lift on its fleet, he contends. Nissan's latest makeover of popular models — especially the Maxima sedan, midsize Murano and Titan pickup truck — will spur sales in Canada and the U.S., he says, and will be key to the company's generating higher operating profits. In addition, the executive team's aggressive streamlining efforts, as exemplified by Nissan's partnership with French carmaker Renault to develop the so-called common module family assembly line architecture, will continue to slash production costs and bolster the bottom line, the analyst believes. Moreover, capital expenditures are peaking, and the company holds ¥1.2 trillion ($10 billion) in cash reserves, he notes, so Nissan is likely to raise its dividend payments to shareholders. Kunugimoto's target price for the shares is ¥1,500, which represents a 19.6 percent premium to their value in late March.