SECOND TEAM

Harunobu Goroh Morgan Stanley MUFG Securities Co.

Repeat second-teamer Harunobu Goroh of Morgan Stanley MUFG Securities Co. wins points for tracking “the whole value chain,” as one backer puts it. In January 2010, Goroh highlighted his buy rating on Hitachi Metals, at ¥964, citing strong sales growth and improving margins. Shares of the Tokyo-based midcap specialty steel producer had surged to ¥1,116 by the end of February 2011, for a gain of 15.8 percent that outpaced the sector by 30.1 percentage points. “He is not afraid to point out when industry trends favor the smaller guys,” marvels one devotee.

Polling and tabulation of data as well as reporting on the sector profiles were completed before the March 11 Tohoku earthquake.