The 2014 All-Japan Research Team: Electronics/Precision Instruments, No. 3: Hisashi Moriyama
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The 2014 All-Japan Research Team: Electronics/Precision Instruments, No. 3: Hisashi Moriyama

< The 2014 All-Japan Research Team Hisashi Moriyama J.P. Morgan First-place appearances: 0

Total appearances: 10

Analyst debut: 2004 Hisashi Moriyama may slip one position to third place, but the J.P. Morgan analyst still wins praise for “his in-depth industry knowledge and for always being helpful and approachable,” as one money manager says. Operators in the precision instruments area are facing the challenge of “how to generate earnings amid a slowdown in the digital camera market and weak growth in the multifunction printer market,” Moriyama advises. One player he deems up to the task is Tamron Co. The Saitama-based lens maker is among the top manufacturers of security camera lenses, an industry that has started to enjoy global growth, he says. For companies in the semiconductors precision equipment segment, the issues include developing processing techniques for three-dimensional integrated circuits and 450 millimeter wafers, as well as finding ways to handle an increasing number of processes. A potential solution is advancement through mergers and acquisitions. Moriyama cites as an example the pending acquisition of Tokyo Electron, the biggest Japanese manufacturer of integrated-circuit and flat-panel-display production equipment, by U.S.-based Applied Materials, the world’s largest manufacturer of equipment to make solar photovoltaic panels. Although neutral on the combination in the interim, the researcher is positive over the long term.

See also Hisashi Moriyama's profile in the 2013 All-Japan Research Team and the 2012 All-Japan Research Team.

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