Nomura Shuffles Research Analysts Covering Financial Stocks

(Bloomberg) -- Nomura Holdings Inc. has shuffled its research coverage of Japanese financial stocks, the latest firm to do so in the country.

Naruhiko Sakamaki, who used to cover regional lenders, started researching securities firms and insurers on Tuesday, while Naruhito Miki began analyzing non-banks and insurers, Japan’s biggest brokerage told clients in documents seen by Bloomberg. Until recently, those sectors were covered by Wataru Otsuka.

Ken Takamiya, who researches Japan’s biggest banks, is now also responsible for regional lenders, a separate note showed.

Kenji Yamashita, a Tokyo-based spokesman for Nomura, confirmed the contents of the documents. He declined to comment on the reason for the reassignments or the role of Otsuka, who couldn’t be reached by phone.

The shuffle at Nomura follows a series of moves of financial industry analysts at competitors. Mitsubishi UFJ Morgan Stanley Securities Co. hired Natsumu Tsujino from JPMorgan Chase & Co. to oversee firms including brokerages and insurers, Bloomberg reported last week.

Tsujino was rated second among analysts covering brokerages by Nikkei Veritas this year, behind Deutsche Bank AG’s Masao Muraki. Otsuka was third.

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