The 2014 All-Japan Research Team: Beverages, Food & Tobacco, No. 3: Ritsuko Tsunoda
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The 2014 All-Japan Research Team: Beverages, Food & Tobacco, No. 3: Ritsuko Tsunoda

< The 2014 All-Japan Research Team Ritsuko Tsunoda J.P. Morgan First-place appearances: 1

Total appearances: 9

Analyst debut: 2006 Although J.P. Morgan researcher Ritsuko Tsunoda slips to third place after two years in the No. 2 spot, money managers still praise what one client terms her “high-quality analyses shaded by her years of experience.” Tsunoda covers 17 stocks, up by four over last year, and prefers the soft-drinks segment over the broader sector, thanks to their flexibility in pricing. “Industry players can make a vending-machine price hike at the same time of the tax hike for the first time ever,” she explains. Japan’s consumption tax rate was lifted from 5 percent to 8 percent in April and could be pushed to 10 percent in October 2015. Her top pick is Suntory Beverage & Food, a Tokyo-based manufacturer and distributor with operations throughout Asia as well as in Europe and the U.S. Citing SBF’s product line that spans foods for specific health uses at the high end, national brands for the volume zone and selective private brands for affordability, Tsunoda says management’s “strategy to cover all price points makes sense in securing good top-line growth.” The stock closed in mid-March at ¥3,575, and she projects that they could rise as high as ¥4,200.

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

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