Hiroyuki Okaseri Mitsubishi UFJ

second team Akiko Kuwahara Morgan Stanley

third team Yusuke Ando Daiwa Institute

runner-up Takaaki Muramatsu UBS

Hiroyuki Okaseri of Mitsubishi UFJ Securities Co. vaults from runner-­up all the way to first place, thanks in part to the “frequent and useful information” he provides, according to one impressed portfolio manager. The 34-year-old analyst urged investors to buy Nippon Paper Group in May, at ¥2,879, anticipating a rise in containerboard, corrugated- and printing-­paper prices. The stock rose 25.0 percent, to ¥3,600, in late December, outpacing the sector by 13.7 percentage points. Then it started to fall amid the broad market rout, sliding to ¥2,185 by late February, but the analyst remains bullish. Okaseri, a 1997 graduate of Hokkaido University with a bachelor’s degree in economics, joined Kokusai Securities Co. in 2000; Kokusai became a part of Mitsubishi two years ­later. Akiko Kuwahara of Morgan Stanley Japan, who rises one notch to second place, offers “a useful mix of short-term and long-term recommendations,” says one investor. Kuwahara reiterated her long-term buy recommendation on box ­maker Rengo Co. in October, on valuation. Through February the stock was ahead of the sector by 11.0 percentage points. Yusuke Ando of Daiwa Institute of Research advances from runner-­up to third. Ando upgraded Mitsubishi Rayon Co. to neutral in November, after management announced a restructuring plan. The stock moved in line with the sector’s 17.0 percent drop through February. “He’s a precise judge of market momentum,” cheers one ­admirer.

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2009 All-Japan Research Team Rankings