Daiwa Securities placed first in both the Institutional Investor All-Japan Research Team and Nikkei Popular Analysts Survey rankings.

We truly appreciate all the generous support you provide our analysts and research teams.

Going forward, we will continue working to deliver the same level of high-quality research steeped in fresh insight and analysis.

Electronics/Components

SADO, TakumiInstitutional Investor 2Nikkei Veritas 1

1st in 2020 Institutional Investor All-Japan Research Team1st in the 32nd Nikkei Veritas Popular Analysts Survey

Analysts Voted Top in Sector of Coverage

Biotechnology & Pharmaceuticals

HASHIGUCHI, KazuakiInstitutional Investor 2Nikkei Veritas 1

TERAOKA, HideakiInstitutional Investor 1Nikkei Veritas 1

Autos

HAKOMORI, EijiInstitutional Investor 1Nikkei Veritas 1

Construction

Auto Parts

SAKAMAKI, ShiroInstitutional Investor 1Nikkei Veritas 1

Telecommunications

ANDO, YoshioInstitutional Investor 1Nikkei Veritas 1

Equity Strategy

KINOUCHI, EijiInstitutional Investor 6Nikkei Veritas(Technical Analysts) 1

OTC & Small Companies

KOJIMA, JiroInstitutional Investor 1Nikkei Veritas 1

Plant Engineering & Shipbuilding

TAI, HirosukeInstitutional Investor 1Nikkei Veritas 2

Daiwa Securities Analyst Directory

Institutional Investor 6（R/U）Nikkei Veritas 4

UMEBAYASHI, HidemitsuChemicals

OKAWA, JunjiElectronics/Industrial

Institutional Investor 5Nikkei Veritas 4

SAKAE, SatoshiElectronics/Consumer

Institutional Investor 2Nikkei Veritas 1

SADO, TakumiElectronics/ComponentsInstitutional Investor 1

Nikkei Veritas 1

HAKOMORI, EijiAutos

Institutional Investor 4（R/U）Nikkei Veritas 3

SUGIURA, ToruElectronics/PrecisionInstruments

Institutional Investor 1Nikkei Veritas 1

SAKAMAKI, ShiroAuto Parts

Institutional Investor 2Nikkei Veritas 1

HASHIGUCHI, KazuakiBiotechnology &Pharmaceuticals

Institutional Investor 3Nikkei Veritas 3

MORITA, MakotoBeverages, Food & Tobacco

Institutional Investor 4（R/U）Nikkei Veritas 3

TAKAI, AkiraBanks

Institutional Investor 2Nikkei Veritas 2

HIROZUMI, KatsuroCosmetics &Personal Care

Institutional Investor 2Nikkei Veritas 2

NISHIKAWA, SyusakuEnergy & Utilities

Institutional Investor 4（R/U）Nikkei Veritas 2

ISHIHARA, TaroBroadcasting

Institutional Investor 4（R/U）Nikkei Veritas 5

SUZUKI, TakaoGaming & Internet

Institutional Investor 1Nikkei Veritas 1

TERAOKA, HideakiConstruction

Nikkei Veritas 9

ISHIHARA, TaroGaming & Internet

Institutional Investor 9Nikkei Veritas 5

MASUMIYA, MamoruHousing &Real Estate

Nikkei Veritas 9

YANO,TakahiroBanks

Stated rankings as of 2020 announcements.Sector classifications based on Institutional Investor categories.

Institutional Investor 3Nikkei Veritas 3

OZAKI, ShinichiroMetals

Institutional Investor 5Nikkei Veritas 10

SHIGEOKA, EmiriMetals

Institutional Investor 3Nikkei Veritas 2

TAI, HirosukeMachinery

Institutional Investor 1Nikkei Veritas 2

TAI, HirosukePlantEngineering &Shipbuilding

INOMATA, AyakaMachinery

Institutional Investor 4（R/U）Nikkei Veritas 2

YOSHIHARA, TomokoMedicalTechnologies &Services

Institutional Investor 8

SEKINE, SatoruMedicalTechnologies &Services

Institutional Investor 5（R/U）Nikkei Veritas 3

WATANABE, KazukiInsurance &Other NonbankFinancials

Institutional Investor 6（R/U）Nikkei Veritas 4

TSUDA, KazunoriRetailing

Institutional Investor 7（R/U）Nikkei Veritas 5

KAWAHARA, JunRetailing

KOJIMA, JiroHousing &Real Estate

Institutional Investor 3Nikkei Veritas 3

MIURA, YusukeOTC &Small Companies

Institutional Investor 4（R/U）Nikkei Veritas 2

OMURA, KoheiREITs

Institutional Investor 10Nikkei Veritas 7

TERAOKA, HideakiHousing &Real Estate

YONEZAWA, MasayoshiOTC &Small Companies

Institutional Investor 1Nikkei Veritas 1

KOJIMA, JiroOTC &Small Companies

Institutional Investor 5（R/U）Nikkei Veritas 7

SEKINE, SatoruOTC &Small CompaniesYANO,Takahiro

Insurance &Other NonbankFinancials

Daiwa Securities Analyst Directory

Institutional Investor 3Nikkei Veritas 2

HIRAKAWA, NoritsuguTechnicalMaterials

Institutional Investor 3Nikkei Veritas 3

HITOTSUYANAGI, HajimeTransportation

Institutional Investor 10

YONEZAWA, MasayoshiTransportation

Institutional Investor 1Nikkei Veritas 1

ANDO, YoshioTelecommunications

TOKUNAGA, KazukiTelecommunications

Institutional Investor 3Nikkei Veritas 3

NAGANO, MasayukiTrading Companies

Institutional Investor 3Nikkei Veritas 3

UENO, MakotoSoftware

OSAWA, ShuichiEquity Strategy

Nikkei Veritas 8

IEIRI, NaokiEquity Strategy

Nikkei Veritas 10

ISHIGURO, HideyukiEquity Strategy

Institutional Investor 2

KOBAYASHI, ShunsukeEconomics

Institutional Investor 6Nikkei Veritas 1

KINOUCHI, EijiEquity Strategy

Institutional Investor 6（R/U）Nikkei Veritas 5

SUZUKI, MasahiroQuantitativeResearch

Institutional Investor 4（R/U）Nikkei Veritas 6

HASHIMOTO, JunichiQuantitativeResearch

MENO, HiroyukiQuantitativeResearch

Institutional Investor 4Nikkei Veritas 9

ABE, KenjiEquity Strategy

HIRONAKA, TakaakiEquity Strategy

Daiwa Securities Analyst Directory