Industries - Retailing - First Team

Takahiro Kazahaya Deutsche Securities

The buy side says: “Kazahaya makes outstanding recommendations.”

Takahiro Kazahaya of Deutsche Securities captured the top spot last year in Retailing/Convenience & Specialty Stores; we combined that sector with Retailing/Department & General Merchandise Stores to create a single Retailing category — and Kazahaya wins the pole position. Over the past year the 36-year-old analyst has added five companies to his roster, for a total of 19. “Personal consumption recovered faster than expected since the Great East Japan Earthquake,” he says. “Strong sales have enabled many companies to maintain favorable earnings. Trends in personal spending merit close monitoring, however, as it is amply evident that global economic uncertainties are increasing.” Kazahaya initiated coverage of Rakuten in January 2011 with a buy recommendation, at ¥67,300, citing strong growth prospects at the Tokyo-based outfit, which operates Rakuten Ichiba, Japan’s largest online retailer by annual sales. By the end of February 2012, the share price had surged 20.1 percent, to ¥80,800. “Takahiro’s edge is that he visits a number of companies, and through this fieldwork he provides a lot of investment ideas,” observes one portfolio manager. — Pam Baker

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