There’s a New Leader in Japan Sales

After a tumultuous year, Japan’s top equity sales firms have been upended, with a new winner emerging in亚博赞助欧冠’s 2021All-Japan Sales Team.

SMBC Nikko Securities captured the No. 1 spot in the tenth annual ranking of Japanese sales teams, improving from third place in 2020. The Tokyo-based bank’s jump to the top of the leaderboard came after a year that saw Japan slip into its first recession since 2015 while also battling a global pandemic.

这也是投资者显然偏爱当地观点的一年。截至今年全日本研究团队, the more than 300 buy-side money managers who voted for the top sales teams gave preference a group of domestic providers.

Second place went to Mizuho Securities, which improved on last year’s fourth place finish. Daiwa Securities slipped one spot to third, while Nomura’s three-year reign at No. 1 ended with the firm in fourth place this year. JPMorgan Chase & Co. repeated its fifth place finish as the only international firm to crack the top five.

Results were weighted based on the size of each respondent’s commission spending. The participants were asked to rank their top overall sales firms as well as rate their performance across six attributes, which included adding value to research, generating ideas, and understanding client needs.

销售团队were also rewarded for their ability to provide a global context to their research offerings, which may have actually been made easier when the working world went virtual last March during the outset of the Covid-19 pandemic, according to Trevor Hill, global head of equity at SMBC Nikko.

“Improved, on-demand, access to Japan from international investors is a silver lining of this crisis,” Hill said. “What used to require flights and jet lag is now being accomplished from [the] relative comfort of one’s own work-from-home office-home. This will likely shift back to a more equal balance of online vs. in-person, but with Japan being a lot like the ‘rest of the world’ rather than the historical outlier that it has often been.”

Daisuke Suzuki, head of APAC equity sales and corporate access at Mizuho Securities, echoed this sentiment. “The fundamental role of sales remains the same: to differentiate our product by generating ideas and customizing customer service,” Suzuki said. “But our workflow and habits have [been] changed by the use of IT and shift towards working from home. Even with more people getting vaccinated, this behavioral shift will continue and people will use Zoom, Webex, etc. to communicate with clients, companies, analysts, and colleagues. This is a big structural change for Japan and will improve productivity.”

As this shift occurs, Suzuki said he is keen to see if it is the catalyst for the buy side to embrace quantity over quality from the sell side. “While the number of meetings taken by investors has actually gone up with the move to online formats rather than face-to-face meetings or physical seminars, we think there has been too much competition to chase volume and this may change from here as people try to use their time more efficiently,” he said.

[IIDeep Dive:顶级销售团队如何适应危机]

铃木认为，一个顶级销售人员应该是一个很好的“过滤器”为投资者，他们被淹没了太多信息。“一名销售人员可以根据他们的偏好对每个客户进行排序的销售人员可以将自己或她自己区分开来，”他补充道。“这不是一个容易的技巧 - 它需要对股票市场，各种行业和个人股票的高度了解。最重要的是，销售人员是一个顶级销售人员是能够培养与投资者的良好关系，并彻底了解他们的偏好。“

对于第一名SMBC Nikko，Hill表示，一个重要的竞争优势是一种赋权的Salesforce，可以利用“我们日本公司的广泛范围。”。

“作为唯一的遗产”大三“日本经纪人，也是日本梅加银行集团的一部分，我们为桌子带来了很多，”他说。“我们将继续将自己定位为”日本专家“。我们认为日本专用和区域或全球或部门的通流投资者将继续作为投资对话的一部分继续这样的专家。该战略自然地将日本处于投资者思想的最前沿的程度。鉴于在日本股票市场上的令人兴奋的变化，底层和放在日本股票市场，这是一种风险，我们很乐意采取。“

In addition to the main results,II还生产了一个排行榜，其中投票是根据管理层的资产加权。在这种基于AUM的排名中，Daiwa Securities集团首先采取，其次是若干和SMBC Nikko Securities的第三名。Mizuho证券排名第四，而三菱UFJ摩根士丹利公司则排名前五。