Industries — Electronics/Precision Instruments: Third
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Industries — Electronics/Precision Instruments: Third

Tetsuya Wadaki

Nomura Securities Co.

In third place for a third year running is Tetsuya Wadaki of Nomura Securities Co. “He executes thorough research and analysis from the technology point of view,” praises one fund manager. Wadaki is neutral on the sector because the yen’s weakness is boosting earnings at a time when demand for office equipment and digital cameras is down, he notes. One issue he’s examining is whether the deterioration in the environment for interchangeable-lens cameras is temporary, or if that market is maturing. He is telling clients to focus on companies that have “growth stories in their main businesses, instead of companies that expect earnings growth only because of benefits from a weaker yen.” Wadaki recommends Tokyo-based Canon, a camera and printer maker, and its publicly listed marketing services arm, Canon Marketing Japan, owing to expected market share gains in the copier and compact system camera segments. — Carolyn Koo

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