After a tumultuous year, Japan’s top equity sales firms have been upended, with a new winner emerging in Institutional Investor’s 2021 All-Japan Sales Team.

SMBC Nikko Securities captured the No. 1 spot in the tenth annual ranking of Japanese sales teams, improving from third place in 2020. The Tokyo-based bank’s jump to the top of the leaderboard came after a year that saw Japan slip into its first recession since 2015 while also battling a global pandemic. 

It was also a year in which investors clearly favored the local view. As in this year’s All-Japan Research Team, the more than 300 buy-side money managers who voted for the top sales teams gave preference a group of domestic providers...

Click here to continue reading.