Industries – Plant Engineering & Shipbuilding: Second
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Industries – Plant Engineering & Shipbuilding: Second

Masanori Wakae

Mizuho Securities Group

Masanori Wakae, who spent the past two years in third place, climbs one rung to second. The Mizuho Securities Group researcher possesses “abundant knowledge of the entire industry ecosystem, including plants, companies and market trends,” marvels one backer. Wakae’s top picks include JGC Corp., a diversified engineering company headquartered in Tokyo. Thanks to increased activity of refinery, petrochemicals and liquefied-natural-gas projects in the Middle East and Asia ex-Japan, “conditions remain conducive” for strong order demand, he reports. In addition, JGC’s “world-leading earnings power” should help boost the stock price, which stood at ¥2,542 in mid-March, to ¥3,100 this year. Also recommended: Chiyoda Corp., a designer and builder of LNG facilities and oil refineries. The Yokohama-based outfit’s construction-order volume should double, to ¥700 billion ($7.42 billion), in fiscal 2013, which began this month. “A key item to watch,” he says, is whether the controversial $35 billion Browse LNG project in Western Australia is approved in June. Chiyoda’s shares were trading at ¥1,098 in mid-March, and Wakae believes they will climb to ¥1,420. — Ben Mattlin

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