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On March 8, 1998, Nikkei published its poll of 905 Japanese equity portfolio managers. Morgan Stanley improved to third. Our improved showing over a three-year period suggests strong momentum, following fifth and seventh place finishes in 1997 and 1996, respectively.
The survey was mailed to 905 Japanese equity portfolio managers, including 744 domestic and 161 overseas. Although Nomura and Merrill Lynch again took the top two spots, both saw their total vote count slip from 1997. Significantly, Morgan Stanley narrowed the vote difference with Merrill Lynch from 1768 to 223. We scored high in macro categories, including Alex Kinmont, ranked number two in Strategy, and Fumiyuki Takahashi, ranked number two in Quantitative Research. The recent addition of Robert Feldman, ranked as the number six Economist, rounds out a strong macro team. If these were included, Morgan Stanley would have ranked ahead of Merrill.
In total, Morgan Stanley had 19 analysts ranked in 18 industry categories, including eleven analysts ranked in the top five. Morgan Stanley ranked as follows:
- Chemicals #1Toshihiko Ginbayashi
- Steels #1Toru Nagai
- Industrial Electronics #2Takatoshi Yamamoto
- Consumer Electronics #2Takatoshi Yamamoto
- Electronic Components #2Takatoshi Yamamoto
- Computer Software #2Mitsuko Morita
- Strategy #2Alexander Kinmont
- Quantitative #2Fumiyuki Takahashi
- Trading Companies #3Tomokazu Soejima
- Construction #5Atsushi Takagi
- Machinery #5Masayuki Mochizuki
- Overall #1Takatoshi Yamamoto (third consecutive year)
- Overall #9Toshihiko Ginbayashi
- Overall #16Toru Nagai
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