This content is from: Research

Sectors: Electronics/Components

After three straight years in second place, Fumihide Goto of UBS climbs the final rung to claim first-place honors for the first time.

Fumihide Goto UBS

second teamTakumi Sado Daiwa

third teamDaiki Takayama Goldman Sachs

After three straight years in second place, Fumihide Goto of UBS climbs the final rung to claim first-place honors for the first time. Praised by one fan for his ability to maintain “the long-term view under difficult circumstances,” Goto reiterated his buy on Nidec Corp. in December 2008, after the manufacturer of computer motors revised its fiscal year 2008 guidance down from a 17.1 percent gain in operating income to a 28.4 percent loss. Goto believed orders would rebound sooner than expected, and he told clients the shares were a bargain at ¥3,340. The stock catapulted 158.4 percent, to ¥8,630, through February 2010 and bested the sector by an eye-­popping 118.5 points. Goto, 41, who earned a bachelor’s degree in mechanical engineering from Keio University in 1991, worked as a electronics analyst at Daiwa Institute of Research and Merrill Lynch before joining UBS in 2003.

Takumi Sado moves up one spot to second place. In a late September sector update, the Daiwa researcher predicted a pullback in share prices on the horizon for November, “when demand usually softens,” and advised investors to prepare themselves for a buying opportunity. He followed up in November with an upgrade on Taiyo Yuden Co. from neutral to outperform, at ¥875. The stock had surged to ¥1,229 by the end of February, a gain of 40.5 percent that outpaced the sector by 26.6 points.

Although he falls from first place to third, Daiki Takayama continues to impress buy-­siders with his “deep industry knowledge,” according to one investor. The Goldman Sachs analyst added NGK Insulators to the firm’s conviction-­buy list in June, at ¥1,702, citing strong sales of the company’s new energy-­saving battery. The stock rose 12.6 percent, to ¥1,917, through ­February.

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