Morgan Stanley Japan's credit research team topped the credit analyst rankings in the Nikkei's eighth annual fixed income research poll in terms of the aggregated points of ranked analysts. The results were issued in the Nikkei Bonds & Financial Weekly (March 17, 2003 issue).

The Firm was the only company with more than one top 10 ranked analyst, with all three members of the team at the top of the table — Hidetoshi Ohashi (#3), Shinji Okabe (#6) and Mana Nakazora (#9).

2003 Nikkei Credit Analyst Rankings

#1 Yasunobu Kozuki, Mizuho Securities (231 points)
#2 Fumito Goto, Merrill Lynch (137 points)
#3 Hidetoshi Ohashi, Morgan Stanley (129 points)
#4 Yoshio Shima, Deutsche Securities (125 points)
#5 Yoshio Tsuchiya, Nomura Securities (100 points)
#6 Shinji Okabe, Morgan Stanley (94 points)
#7 Takuya Mishima, Mitsubishi Securities (76 points)
#8 Noriyuki Atake, Nikko Salomon Smith Barney (66 points)
#9 Mana Nakazora, Morgan Stanley (57 points)
#10 Koji Miura, Goldman Sachs (41 points)

"These rankings reflect the quality of our team and long-term commitment to providing value-added insights into the credit markets for our clients in Japan," said Jon Kindred, Head of the Fixed Income Division (FID) in Asia. "With investor demand continuing to grow for high quality credit research, this result will help us to continue to build on our leading position in the market."