Credit Suisse Group AG, the second-biggest Swiss bank, plans to expand Japanese stock coverage by 25 percent this year in a bid to catch up with foreign rivals.
Credit Suisse aims to increase equity research in Japan to 285 companies from 227 by Dec. 31, adding businesses in industries including automobile parts, the Internet, medical devices, food, consumer products and retail, said Tim Shanagher, who became the bank's head of Japan equity research in May.
Credit Suisse has lost at least four equity employees in Japan in the past 12 months, and its ranking among research firms in the country slipped one spot to eighth, an Institutional Investor survey showed in April. Credit Suisse sees "great value" in doing business in Japan, where companies have accumulated cash reserves to invest and pursue takeovers, Shanagher said.