Industries — Paper & Textiles: Third
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Industries — Paper & Textiles: Third

Yusuke Ando

Daiwa Securities Group

Being “one of the few analysts with long-term experience in the sector,” according to one buy-side enthusiast, helps Yusuke Ando win the third tier for a fifth consecutive year; the Daiwa Securities Group researcher also takes the top spot in Ceramics & Glass. Rising costs for raw materials, excess capacity and intensifying competition — particularly from China — make this a difficult time for Japan’s paper producers. “The sector’s stocks have stagnated,” Ando declares. But depreciation of the yen is spurring a decline in imports, which should help improve the performance of domestic paper companies, he adds. Among the stocks he believes will benefit is Tokyo-based Nippon Paper Group. “It has a relatively large exposure to the printing-paper business, compared to other competitors,” he says. “Since the printing-paper price is now hitting bottom, the company is trying to raise prices.” Early last month, Nippon Paper announced price revisions that take effect April 21. — Leslie Kramer

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