The 2014 All-Japan Research Team: Beverages, Food & Tobacco, No. 2: Hiroshi Saji
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The 2014 All-Japan Research Team: Beverages, Food & Tobacco, No. 2: Hiroshi Saji

< The 2014 All-Japan Research Team Hiroshi Saji Mizuho Securities Group First-place appearances: 1

Total appearances: 14

Analyst debut: 2001 After two years in third place, Hiroshi Saji springs back up to second. The Mizuho Securities Group analyst tracks 24 stocks and plans to expand his coverage later this year. He “knows the industry well, is incredibly hardworking and changes target prices frequently, as necessary,” one backer asserts. Other portfolio managers laud his reports from Brazil, Indonesia, Vietnam and other countries as comprehensive and containing information on the sector that they can’t easily obtain elsewhere. Saji believes that an increase in workers’ pay will bring good news for the sector this summer. As part of his economic growth strategy, Prime Minister Shinzo Abe has urged companies to raise wages, and many major Japanese exporters and manufacturers announced this year that they would raise base pay levels. As a result, by mid-year, the analyst forecasts, much-needed hikes in unit prices are likely to be better received. Companies in the beverages subsector are best positioned to take advantage of this shift, he says, particularly Tokyo’s Suntory Beverage & Food, a global manufacturer and distributor of coffee, tea and soft drinks. Saji believes that ¥4,350 is a fair valuation for the shares, which represents a 21.7 percent upside from their price in mid-March.

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