2016 All-Japan Research Team: Electronics/Industrial, No. 2: Hideyuki Maekawa
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2016 All-Japan Research Team: Electronics/Industrial, No. 2: Hideyuki Maekawa

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Repeating in second place — and notching his fourth showing in that position in five years — is Hideyuki Maekawa of Credit Suisse.

< The 2016 All-Japan Research Team


Hideyuki Maekawa

Credit Suisse

First-Place Appearances: 1


Total Appearances: 8


Analyst Debut: 2009


Repeating in second place — and notching his fourth showing in that position in five years — Hideyuki Maekawa of Credit Suisse wins the support of one investor with his “supply chain knowledge” and “information advantage on short-term market cycles.” Given the macroeconomic environment’s increasing unpredictability, the analyst says, Japan’s industrial electronics manufacturers face risks on many fronts this year. As a result, “mostly external factors are the key issues for the sector.” For example, an appreciating yen is suppressing domestic technology providers’ profits while sluggish economic output is weakening corporate capital expenditures, he notes. At the same time, unit sales gains for such hardware products as personal computers, smartphones and tables are cooling. Maekawa, 43, monitors 11 companies in this space, and despite this uncertain outlook, he names Hitachi his top pick in the group. Although the Tokyo-headquartered conglomerate is dealing with plunging oil prices that hurt its oil and gas business and significant capex cuts by telecommunications carriers, it “still has room for profit growth from an internal cost-reduction program,” he explains.



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