2015 All-Japan Research Team: Trading Companies, No. 1: Jiro Iokibe
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2015 All-Japan Research Team: Trading Companies, No. 1: Jiro Iokibe

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Retaking the pinnacle after having slipped to No. 2 last year is Daiwa Securities Group researcher Jiro Iokibe.

< The 2015 All-Japan Research Team

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Jiro Iokibe

Daiwa Securities Group

First-Place Appearances: 2


Total Appearances: 6


Analyst Debut: 2010


Retaking the pinnacle after having slipped to No. 2 last year, Daiwa Securities Group researcher Jiro Iokibe is prized for his “timely comments on a volatile market,” as one client puts it. Of the seven Japanese trading companies under the 43-year-old’s coverage, Mitsubishi Corp. — the biggest player in this space — is a favorite. The Tokyo-based consumer goods, electronics and financials conglomerate boasts strong net earnings and vigorous cash-flow generation, he says. Moreover, last May management announced its largest buyback plan in seven years, pledging to repurchase up to ¥60 billion ($589 million) of its stock. Iokibe has maintained an outperform rating on Mitsubishi since November 2013, when he elevated it from buy, at ¥1,989. Late last month it closed at ¥2,508, up 26.1 percent over the life of the call and leading its domestic peers by 11.1 percentage points. During the trailing 12-month period, it rose 32.6 percent, against the sector’s gain of 18.2 percent. The analyst forecasts a rise to ¥2,760. Another of his preferred names is Toyota Tsusho Corp., boosted in February from neutral to outperform at ¥3,020, on the company’s earnings momentum. His price target for shares of the Nagoya-based exporter of Toyota Motor Corp. vehicles, industrial machinery, semiconductors and other products is ¥3,340. They had risen to ¥3,295 by late March, gaining 9.1 percent since his upgrade and beating the domestic sector by 2.8 percentage points. “Iokibe travels a lot to meet with clients and research his companies, which is a good service,” observes another investor.



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