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Yasuo Nakane
Deutsche Securities
"He has deep knowledge and global views."
Deutsche Securities’ Yasuo Nakane returns to the winner’s circle after a year in second place. Dubbed “a specialist of the liquid-crystal-display industry” by one satisfied client, the 45-year-old believes yen depreciation won’t provide as much of a boost as executives in the sector claim since “some of the products, like TVs, are losing their edge in specification and function, compared to their [South] Korean peers.” He has a hold rating on Sony Corp. because he believes the Tokyo-based multinational lacks something that would substantially boost its earnings, such as a rise in digital single-lens reflex camera sales. In addition, Sony is experiencing structural issues with its TV, video game and laptop businesses, he notes: Consumers are spending less on games overall, and when they do spend it’s on digital downloads for games on their smartphones versus packaged software for specific consoles. Nakane has a sell on Sharp Corp., citing the Osaka-based company’s rich valuation and his lowered expectations for a strong earnings recovery, especially given the strength of the manufacturer’s rivals in the LCD smartphone business. — Carolyn Koo