< The 2015 All-Japan Research Team

Total appearances: 2

Team debut: 2014

In the No. 3 position on this new list is Yusuke Hori, 39. The Mizuho Securities Group researcher garnered a runner-up position last year in Software/Business, which has been combined with Software/Entertainment to create this category. He holds a bachelor’s degree in law from Dokkyo University and worked for several years as an investor relations officer at Itochu Techno-Solutions Corp., an information technology services provider headquartered in Tokyo, before taking on his current position at Mizuho in 2005. Hori has added three names to his coverage universe over the past year and now reports on 17 Japanese software companies. His outlook on the domestic sector is generally positive, thanks to growth of both cyclical and structural demand, though he sees speed bumps down the road. “We can expect multiyear margin expansion, with higher unit price hikes resulting from the system engineer shortage,” says the analyst. “Relatively higher growth will continue until 2017. With the special demands from the public and financial sectors, the skilled SEs shortage will get serious.”