Industries – Machinery: First
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Industries – Machinery: First


Katsushi Saito

Nomura Securities Co.

"He has a solid grasp on the fundamentals and truly understands what drives stock prices."

Joining the inaugural All-Japan Research Team Hall of Fame is Nomura Securities Co.’s Katsushi Saito, who captures his fourth consecutive and 12th overall first-place finish. The 47-year-old enjoys “close-knit relationships that he has built with executives at the companies,” according to one buy-side backer, who also praises the “exactness” of Saito’s earnings forecasts. Among his top stock picks is longtime favorite Yaskawa Electric Corp. — the analyst has been recommending the Fukuoka-based maker of motor drives, switches and robots used in automobile manufacturing since December 2011 — and Tokyo’s SMC Corp., which produces engineering controls for industrial automation. His bullish view is based on the belief that the global economic recovery will lead to a “rebound of cyclicals” in the short term, he says, while in the medium term, “structural changes in manufacturing in emerging countries will be the driver for factory-automation demand,” further enhancing the duo’s fortunes. Yaskawa’s share price stood at ¥940 in mid-March, and Saito’s target price is ¥1,040; SMC’s shares were trading at ¥18,320, and he predicts they will climb to ¥19,200 this year. — Paul Sweeney

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