2016 All-Japan Research Team: Transportation, No. 2: Yasuhito Tsuchiya
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2016 All-Japan Research Team: Transportation, No. 2: Yasuhito Tsuchiya

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Bank of America Merrill Lynch’s Yasuhito Tsuchiya repeats in second place.

< The 2016 All-Japan Research Team

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Yasuhito Tsuchiya

Bank of America Merrill Lynch

First-place appearances: 1


Total appearances: 7


Team debut: 2008


Bank of America Merrill Lynch’s Yasuhito Tsuchiya repeats in second place. Holding steady with 18 domestic transportation companies under coverage, the 44-year-old researcher wins plaudits from one supporter for his skill at detailing the finer points of his stock calls. “He really impressed me with his explanation of how JR East is different from other railroads,” this money manager offers. “Its core business is passenger-rail service, but he helped me understand that it’s also a big landowner and that there’s a strong connection between its property development projects around railway stations and the government’s inflationary policies.” East Japan Railway Co., popularly known as JR East, remains one of Tsuchiya’s preferred names. His bullishness is based on the potential for declining labor costs to drive profit expansion for the Tokyo-based operator as higher-paid employees reach retirement age. In addition, the stock is attractively valued, the analyst believes, especially when its real estate value is factored in. Despite a weaker yen, he is also upbeat on Tokyo’s Japan Airlines Co., recommending that investors favor the flag carrier on the strength of cost reductions, thanks to cheaper oil, as well as a flourishing tourist trade as travelers take advantage of lower fares to go abroad. JAL’s “cheap valuation relative to the sector,” notes Tsuchiya, adds to its appeal.



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