SECOND TEAM
Daisuke Fukushima Nomura Securities Co.
It’s three straight years at No. 2 for Daisuke Fukushima of Nomura Securities Co. Fukushima initiated coverage in December on Hulic Co. with a buy rating, at ¥654, on the thesis that the Tokyo-based developer’s recently instituted growth strategy was well conceived and that the market had undervalued the company’s holdings. By the end of February, the stock had jumped 14.7 percent, to ¥654, just behind the sector’s 15.6 percent advance. Fukushima is “one of the few analysts who do bottom-up, fundamental research and understands the quality of the companies’ portfolios,” asserts one enthusiastic client. “He actually breaks down all the assets of the real estate developer, values them and gives you the long-term view.”
Polling and tabulation of data as well as reporting on the sector profiles were completed before the March 11 Tohoku earthquake.