Nobuyoshi Miura Nikko Citi

second team Naomi Takagi JPMorgan

third team Tokushi Yamasaki Daiwa Institute

runners-up Hiroshi Saji Mizuho; Ritsuko Tsunoda BofA–Merrill Lynch

Holding on to the top spot for a second straight year is Nikko Citi’s Nobuyoshi Miura, praised by clients for his “deep industry knowledge” and “reliable guidance.” In February 2008, ­Miura urged investors to buy Toyo Suisan Kaisha, at ¥1,714, on the belief that the ­instant-food manufacturer’s price increases would more than offset the rising cost of wheat. By the end of February 2009, the share price had jumped to ¥2,330, advancing 35.9 percent and outpacing the sector by a whopping 72.6 percentage points. Naomi Takagi, who leaps from runner-­­up to second place, is “rich in both short-term and long-term investment ideas,” according to one buy-­sider. Case in point: In February 2008 the ­JPMorgan Securities Japan analyst initiated coverage with a buy recommendation on Yamazaki Baking Co., at ¥886, citing strong growth prospects. One year later the stock had risen 39.7 percent, to ¥1,238. “Clear, precise evaluations,” in the words of one money manager, help Tokushi Yamasaki of Daiwa Institute of Research finish in third place for a third year running. In February 2008, Yamasaki told investors to buy Asahi Breweries, at ¥1,841, on increasing market share. In August, after the stock had bubbled up 7.9 percent, to ¥1,986, he downgraded it to hold; by the end of February, Asahi’s shares were 0.2 percentage point ahead of the ­sector.

Back to the main article and list of sectors

2009 All-Japan Research Team Rankings