Industries — Housing & Real Estate: Third
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Industries — Housing & Real Estate: Third

Daisuke Fukushima

Nomura Securities Co.

After four straight years in second place, Nomura Securities Co.’s Daisuke Fukushima slips back to third. The analyst follows only 20 stocks, but “he understands what investors need,” cheers one asset manager in Tokyo. Case in point: In May, Fukushima upgraded Tokyo Tatemono Co. from neutral to buy, dubbing the Tokyo-based commercial and residential developer’s shares a bargain at ¥239 and making the case that a dwindling supply of new, vacant properties would lead to rent increases. He was right. In January local real estate consulting firm Tokyo Kantei Co. reported that the average rent in greater Tokyo had risen 3 percent month-over-month in December. By mid-March, Tatemono’s shares had soared a heart-stopping 167.8 percent, to ¥640, and shot past the sector by a whopping 55.9 percentage points. “We take pride in the timing having been good,” says Fukushima, who expects further gains throughout 2013 as rents keep rising. — Ben Mattlin



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