Mainichi Economist Ranks Firm in Annual Analyst/Economist Poll

In the sixth annual Mainichi Economist analyst/economist poll, Morgan Stanley ranked fifth with 6,895 points.

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In the sixth annual Mainichi Economist analyst/economist poll, Morgan Stanley ranked fifth with 6,895
points. There were nine Morgan Stanley Japan analysts ranked in the top three this year, down from
12 in 2001. Four analysts ranked #1, three #2 and two #3. Last year, the Firm ranked second
overall.
Rounding out the top eight firms, Nomura Securities was ranked #1 with 9,021 points, followed by
Nikko Salomon Smith Barney (8,097), Daiwa Research (7,117), Deutsche (7,031), Morgan Stanley,
Mitsubishi Securities (5,229), Mizuho (4,763) and Merrill Lynch (4,452).
The Mainichi Economist poll, conducted in August, was distributed to portfolio managers at 141 major
domestic (including foreign-affiliated) institutions, including trust banks, investment advisory firms,
life and non-life insurers, and banks. Each company received 10 surveys. The Mainichi Economist
received 687 valid responses, for a response ratio of 48.7%.
The survey asked respondents to rank their top three analysts for each sector, with a top ranking
receiving three points, a second ranking two points and a third ranking one point. Final rankings
were determined by the aggregated points.
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