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Merrill Brings Capital Structure Research To Tokyo

Merrill Lynch is extending its capital structured arbitrage research coverage to Japan, which it believes is one of the first in the market.

Merrill Lynch is extending its capital structured arbitrage research coverage to Japan, which it believes is one of the first in the market. "As many international hedge funds cover both the equity and debt side, we see a lot of potential for this type of research," said Fumihito Gotoh, in the credit research department in Tokyo.

Capital structure ideas focus on diverging or converging valuations of a firm's equity, credit and equity options. Merrill launched its coverage for Asia earlier this year (DW, 4/25) and is now bringing such ideas to Japan, pooling together equity and credit analysts. The firm expects to publish its first report in Tokyo in the coming weeks.

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