Kazuhiro Miyake Daiwa Securities Group
Moving into third place after two years in the runner-up position is Kazuhiro Miyake, who is applauded by one supporter for his “unique ideas and wide range of knowledge.” The Daiwa Securities Group strategist is maintaining his positive outlook for Japanese equities because he expects they will “enter a bull market in which earnings-per-share and price-to-earnings ratios expand simultaneously.” Miyake reasons that stepped-up quantitative easing measures worldwide are turning sentiment around and that companies are likely to benefit this year from postearthquake reconstruction and a recovery in production. Over the medium to long term, he forecasts that Japanese companies are set to improve their returns on equity, benefiting from economic growth is Asia and industry consolidation. “Rumors of the death of Japanese equities are greatly exaggerated,” he concludes. “The market is poised to spring to life.” — Carolyn Koo
RUNNER(S)-UP
- Shoji Hirakawa UBS
- Seiichiro Iwasawa Nomura Securities Co.
- Naoki Kamiyama Deutsche Securities