Research

19 in-house equity research analysts (15 years of experience on average as of September 30, 2011) cover approximately 800 companies that account for more than 90% of the total market capitalization. Our analysts are diligent and highly regarded. In FY 2010, they conducted as many as 6,637 field researches (3,372 company visits, 2,067 IR meetings and 1,198 factory and other meetings).

The main duty of the analysts is to forecast corporate earnings and liaise with the fund managers.

The analysts share the information they have gathered on a daily basis at morning meetings and provide their own sector view on a monthly basis to the fund managers.
The analyst and the fund managers are in the same department and interact very closely.

Please note that the analysts’ input is not always translated directly into the fund manager’s final investment decision to buy or sell; the fund manager has ultimate decision-making authority and accountability.

We believe that the most reliable information source for stock selection is the one we have gathered ourselves.