Tokyo-based JPMorgan Chase & Co. analysts Yoshiharu Izumi and Nobuhito Owaki will leave the company, according to a person familiar with the matter.
Izumi, an executive director who covered industrial and consumer electronics companies such as Sony Corp. and Renesas Electronics Corp., and chemicals analyst Owaki are resigning, according to the person, who declined to be identified as the matter is private. The departures will leave about 20 staff in the equity-research department, according to the person.
JPMorgan’s chief equity strategist in Tokyo, Hajime Kitano, said he will resign the investment bank in an email last week. Kitano was ranked Japan’s No. 2 equity researcher for 2012 by Institutional Investor magazine, falling from the top spot he held the previous year.
Yukako Yoshino, the investment bank’s spokeswoman in Tokyo, declined to comment. Calls to Izumi and Owaki went unanswered and Izumi did not reply to an e-mail.