2015 All-Japan Research Team: Electronics/Industrial, No. 1: Masaya Yamasaki
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2015 All-Japan Research Team: Electronics/Industrial, No. 1: Masaya Yamasaki

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Nomura’s Masaya Yamasaki rebounds from second place to reclaim the top spot.

< The 2015 All-Japan Research Team

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Masaya Yamasaki

Nomura

First-Place Appearances: 4


Total Appearances: 10


Analyst Debut: 2006


In his tenth appearance on this roster, Nomura’s Masaya Yamasaki rebounds from second place to reclaim the top spot, which he held from 2011 to 2013. One investor praises the analyst as “solid and reliable” and is especially appreciative of his “outstanding earnings models.” Developments in three key areas are affecting Japan’s industrial electronics providers, according to Yamasaki, 46. The first is the semiconductors space, where changing trends include the increasing popularity of multigate architecture technologies in advanced integrated circuit structures and three-dimensional NAND flash structures. Second, relatively new business opportunities exist in the so-called Internet of Things market for wearable devices, cards, vending machines and sensors, as well as data analytics and centers. Finally, although demand is stable for elevators, trains and other infrastructure inputs, a slowdown may be forthcoming in the oil and gas industry, he says. In the short term Yamasaki favors Toshiba Corp., crediting the Tokyo-headquartered diversified manufacturer’s large share of the NAND flash market, a recovery in its international nuclear power plant technology unit and management’s decision to exit a loss-making overseas television business. Tokyo’s Mitsubishi Electric Corp., which makes photovoltaic panels and architectural equipment, is Yamasaki’s preferred name for the longer term. “They have the highest topline growth potential,” he observes, “and they have a good business portfolio for improving productivity and power efficiency.”



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