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Low stock prices and big cash hoards mean that many Japanese companies - more than 40% of them, says Schwab - are trading at prices that add up to less than the book value of the business. Although Japanese stock prices are, on average, still a bargain when judged against several U.S. stock price measures, the recent run-up has brought the average Japanese stock price close to the country's historic average price-earnings multiple of 15.5 times expected earnings. Stocks in the S&P 500 trade at an average price of four times their book value.) In January, the Tokyo Stock Exchange announced it would ask companies trading below book value to develop a strategy to improve their capital management. [Extracted from the article]

According to an analysis by Morgan Stanley, wealthy Japanese individuals are expected to increase their investments by over 30% by 2030. The combined segment of ultra-high net worth individuals and the "upper affluent" is projected to have investments worth 906 trillion yen ($5.8 trillion) by 2030, up from the current level of around 690 trillion yen. This presents a sales opportunity of approximately $38 billion for Japan's financial firms. Young affluent Japanese are seen as a potential source of growth, with mutual fund inflows expected to be significant in the longer term. [Extracted from the article]

Japanese authorities are considering intervening in foreign exchange markets to target a five-yen rally against the dollar, according to strategists at major brokerages. The yen has reached its weakest level against the dollar in about 34 years, prompting concerns. However, there is skepticism about whether intervention can keep the yen strong for long, given the wide yield gap between US and Japanese bonds. Japan's Finance Ministry may need to prop up the yen if it continues to weaken. [Extracted from the article]

Japanese authorities are considering intervening in foreign exchange markets to target a five-yen rally against the dollar, according to strategists at major brokerages. The yen has reached its weakest level against the dollar in 34 years, prompting concerns. However, skepticism remains about the effectiveness of intervention in keeping the yen strong, given the wide yield gap between US and Japanese bonds. Japan's Finance Ministry may need to prop up the yen if it continues to weaken. [Extracted from the article]

Japanese stocks have reached new records, attracting foreign buyers and prompting the country to look for its own young versions of Warren Buffett. However, potential investors in Japan face a problem: the Tokyo Stock Exchange has a minimum trading lot of 100 shares, making it difficult for starting investors to buy attractive stocks. Online brokerages offer programs to buy less than 100 shares, but they come with limitations such as higher fees or a reduced pool of stocks. As a result, individuals in Japan show a preference for foreign stocks, and the country is seeking ways to resolve the 100-share lot issue to encourage more domestic investment. [Extracted from the article]

Much has been written about the reinvigoration of the Japan-EU relationship after signing the strategic and economic partnership in the last few years. Prior to the V4 joining the European Union in 2004, there was only very shallow contact, with the lone exception being when Prime Minister Junnichiro Koizumi visited the Czech Republic and Poland during his 2003 trip to Europe. Simply put, although Japan would appreciate more integration of the V4 and the EU, the V4 seems to want less of it. [Extracted from the article]

Japanese retail investors have been withdrawing from ESG (environmental, social, and governance) mutual funds, with a total of 660 billion yen ($4.5 billion) being pulled out in 2023, compared to 150 billion yen in 2022. This shift is due to investors favoring mutual funds focused on specific investment themes rather than sustainability goals. In 2021, ESG funds saw significant inflows of 1.8 trillion yen, but now investors are more interested in areas such as foreign index funds. The outflow of capital from ESG funds has impacted the industry's growth, with no new ESG products launched in the last quarter of 2023. Experts believe that interest in ESG funds among retail investors is unlikely to recover and expect the shift to other investment areas to continue. [Extracted from the article]

Japan's Financial Services Agency is expected to order SBI Holdings Inc.'s brokerage arm to temporarily suspend certain operations due to allegations of stock price manipulation. The ban will not affect online services for retail investors or investment trusts. The scandal at SBI Securities Co. has already prompted Japan's securities watchdog to recommend penalties for the brokerage. Both the FSA and SBI declined to comment on the report. [Extracted from the article]

The article features businessman Sir John Marks Templeton and his Templeton funds. Way back in the 1950s, long before it became fashionable or even conceivable to most people, Templeton and his Templeton funds were scouring the entire world for investment opportunities. Let others be hidebound in their beliefs that the U.S. was the only safe place to invest. Thus were the Templeton funds early and highly successful investors in Japan as far back as the mid-1960s, long before anyone thought that the island nation would become an economic powerhouse. INSET: A nondemoninational missionary (philanthropy), by L.M..

The article discusses foreign investments on the Japanese stock market as of December 1, 1969. Topics include the decision of the Japanese Ministry of Finance to limit foreign holding of Japanese stocks, data on the prices of shares that are traded on the Tokyo exchange in Japan such as the stock of telecommunications company Matsushita Electrical, and mutual funds that invested in it such as Dreyfus Fund.

The article discusses investing in Japanese stocks, examining companies and industries which financial analysts predict could be profitable. Neil Hennessy, manager of the Japan Smaller Companies Fund and the Hennessy Select SPARX Japan fund, and Masakazu Takeda, a portfolio manager for the SPARX Japan fund, discuss companies such as the automation tool company Misumi and the electric furnace company Tokyo Tekko, Japanese exports to the U.S. and China, and Japanese business practices. The effects of the 2011 earthquake and tsunami on Japanese business and the price of the yen are discussed.

(Bloomberg) -- Despite Japan's share market rally to a three-decade high in August, many big-name stocks remain cheap based on unconventional analysis used by a Deutsche Bank AG unit. Out of about 900 companies globally that DWS follows, the fund filters out firms that don't have any R&D or brands, limiting the total to around 400. The firm aims to come up with what the total enterprise value of the firm might be if it were to buy the company entirely or take it over. [Extracted from the article]

The article looks at the improving investment environment in Japan as a result of the U.S.-Japan Financial Services Agreement of February 1995. Topics covered include the lack of knowledge of Japanese savers on how and where to invest their money, the Japanese government's policies that ill-served investors such as the restriction on the management of pension funds, and the increasing popularity of U.S.-style mutual funds among savers and investors.

States that their problems won't sink the home islands, but Japan's banks are in far worse shape and their problems will take much longer to correct than most people believe. If Japan's stock and real estate markets don't pick up soon, raising more capital will be a challenge.

The article looks at the mutual fund industry in the United States as of December 1, 1969. The author focuses on the interest of American investors in the stock of Japanese companies, with information provided about the Tokyo stock exchange, the growth of Japanese economy, and U.S. Government regulations regarding the trade with foreign securities. Other topics include the Templeton Growth Fund and business information provider Dun & Bradstreet.

The draft guidelines that require ESG elements to be a key factor in the selection of investment assets by ESG mutual funds are part of a global trend to improve the credibility of these products, said Tomohiko Sano, head of ESG research at JPMorgan Securities. Incorporating ESG elements into the evaluation process for companies' financials will no longer be enough for funds to call themselves "ESG investment trusts", according to the guideline. [Extracted from the article]

(Bloomberg) -- Japan's foray into listing actively managed exchange-traded funds next year may do little to boost liquidity for a market faced with foreign outflows, investors say. The Tokyo exchange said that it will require Japanese ETFs to disclose their positions on a daily basis, which caused criticism from market participants, Maegawa added. [Extracted from the article]

(Bloomberg) -- Japan's financial regulator is looking at new measures to curb greenwashing and ensure that financial products labeled as ESG are sustainable, according to people familiar with the matter. The cabinet may approve the FSA's plans to increase oversight as early as Tuesday and the regulator may introduce the new guidance by March, the people said. [Extracted from the article]

Nomura eked out a profit of 31 billion yen, helped by a one-time gain from a stake sale. (Bloomberg) -- Daiwa Securities Group Inc.'s fourth-quarter profit slumped 64%, joining its larger rival Nomura Holdings Inc. in suffering from a drop in retail and wholesale business. [Extracted from the article]

In this article the author comments on the taxation reforms taken up by Japan and their impact on boosting the inflow of foreign investments into the country. As stated, the Japanese government promoted investment from foreign investors through private equity funds by making important tax reforms including the introduction of the permanent establishment exemption and the exception from 25/5 income tax rule to certain limited partners (LPs). The article also discusses the prerequisites for applying to such tax exemptions and examine certain issues to consider before applying the rules.

The article focuses on retail investors trading of currencies through retail foreign exchange (FX) margin companies in Japan. This move considers as an updated version of the carry trade for which the region is famous. The new carry trade is common with hedge funds borrowing yen, since it is based on leverage. FX trading is likely to be more technical than fundamental with investors looking at past returns than economic statistics.

The article highlights the significance of Japan's real estate investment trusts (J-REIT) to the real estate market in the country. Private investors can easily stake an ownership claim in large properties due to the J-REIT structure. More pressure on J-REIT is made from an increase in interest rates.

Discusses the role of executive Akira Fujii in the growth of KCS, an information technology and consulting firm in Japan. Investments made by Fujii in the firm; Advantages of his experience in banking in improving the performance of KCS; Business model of the KCS Partnership Funds created by Fujii.

Discusses the progress in competition for acquisitions and deals in Japan's real estate investment trust (J-Reits) market in 2004. Benefit of the issuance of the Amended Investment Trust Law in 2000 to the industry; Increase in the real estate holdings of pension funds; Advantage of J-Reits in locating new assets; Forecast on the industry. INSETS: Jones Lang LaSalle--bringing global expertise toJapan's real ..;Tokyu Reit--on the right track for growth.

Discusses the prominence of the Japanese real estate investment trusts (J-Reits) market since its establishment in September 2001. Reason for the prominence of the J-Reits; Comments from industry executives on the success of the J-Reits market; Skepticism about the real estate market; Challenges being faced by J-Reits' management team and investors. INSETS: Rising interest rates--good news or bad for J-Reits?;The legal view.

The article presents information on restrictions on investment through funds of funds after extensive deregulation. It may be a surprise for foreign fund operators to learn that there are few restrictions under Japanese law on the so called fund-of-funds structure. This is a result of the deregulation in Japan of investment trusts investing in other investment funds, which was achieved by amendments to rules of the Investment Trust Association of Japan that apply to Japanese investment trusts established under Japanese law and to rules of the Japan Securities Dealers Association which are applicable to foreign investment funds offered in Japan.

The article discusses fund manager Neil Hennessy's favorable outlook on Japanese equities. Along with partner Masakazu Takeda he runs the $50 million Select Sparx Japan Fund, which invests in about 30 separate value stocks. Despite the poor performance of Japanese shares for two decades, Hennessy believes a shift in the nation's export economy toward emerging markets, particularly China, will prove beneficial. Two Japanese firms he likes that do substantial business in China are Pigeon and Keyence.

Features the Sawakami Fund company of Tokyo, Japan. History of the company and its growth; Potential market for investment trust; Stocks and companies that founder Atsuto Sawakami prefers; How the company deals with its investors; Preparation for further growth.

Discusses investment and the mutual fund industry in Japan as of July 10, 2000. Opportunities for potential capitalization, including postal savings deposits that are maturing over the next two years; Improvement in the mutual fund sector since the 1998 financial reforms; Details of funds such as the Nomura Big Project-N blue-chip fund; Status of Fidelity Investments mutual-fund company; Speculation on Japan's economy by investors such as Goldman Sachs.

Offers a look at the financial services market in Japan. Factors which attract investors; Variation of online trading services offered by brokers; Joint venture between Donaldson, Lufkin and Jenrette with the group led by Sumitomo Bank; Prospects for mutual funds business in Japan.

"We need to consider carefully whether it is necessary to make it easier for the general public to invest in crypto assets", Nakajima, 58, who became chief of Japan's financial regulator last month, said in an interview. (Bloomberg) -- Japan needs more convincing of the merits for making cryptocurrency investing easier for its population, according to the country's top regulator. [Extracted from the article]

Historically, a small venture capital industry and Japanese banks' reluctance to lend to fledgling companies have hamstrung startups, said Ciganer. Other market entrants include Hong Kong-based hedge fund firm Anatole Investment Management, which joined an August 2020 financing round for e-commerce and payment company Hey Corp. (Bloomberg) -- Hedge funds and asset managers are increasingly turning to Japanese startups, attracted by some eye-popping past returns in the long-overlooked sector. [Extracted from the article]

The article discusses mutual funds in the U.S. as of August 21, 1978. The author focuses on mutual fund Templeton Growth Fund, including its portfolio made up mainly of mining, transportation, and insurance companies, and the opinion of executive John M. Templeton on Japanese securities. Further discussed is mutual fund Neuberger & Berman, its portfolio, and attitude toward cyclical stocks. Also mentioned are mutual funds Madison Fund and Scudder Development Fund.

The article looks at the U.S. mutual funds industry as of December 1977 with a focus on the performance of closed-end Japan Fund. Topics include the fund's portfolio, the metamorphosis of Japanese industry, and the price/earnings (P/E) ratios of Japanese stocks. Comments from Jonathan Mason, chairman and chief executive officer (CEO) of the fund, and Robert Kugler, president of the fund, are included.

This article discusses the profits made by a diversified portfolio of small-company stocks in the U.S. in the first quarter of 1989. Take the top-performing Alger Small Capitalization Fund, up 20.21 percent. After a knockout quarter, it still has only $4.3 million in assets. Few people even know the fund exists. It recently rounded up the 1,000 shareholders needed to merit inclusion in the fund listings in the daily newspaper. The Kaufmann Fund, number 2 in the quarter and tops for 1988, has more than doubled in size since yearend, yet holds just $12.2 million in assets. Although small was profitable over the winter months, big funds did not exactly freeze up. The behemoth Fidelity Magellan Fund, with $9.67 billion in assets, racked up a 9.25 percent total return. In all, 3 of the 10 largest funds beat the 7.13 percent return of the Standard & Poor's 500-stock index. Perhaps the biggest disappointments for fund investors in the first quarter were the international funds, especially those that invest in Japan. But in difficult investment climates, smart ideas pay off. Christian Wignall, who runs G. T. Japan Growth Fund, scored an impressive 15.42 percent return by making a few shrewd moves. Buying a small fund that invests in small companies is, in itself, no guarantee of investment success. The portfolio manager still has to choose the right stocks. The biggest winners steered clear of high-technology stocks. The impact of a few winning stocks on a small portfolio can be enormous, especially in the quarter-to-quarter performance derby. With small funds, the question of whether the portfolio manager is a sharp stock-pricer or just luck is even more critical than it is with large funds.

Several letters to the editor are presented in response to the articles published in the previous issues including "Social Security Reform Hits Its First Snags," in the February 28, 1983 issue, "Mutual Funds: Trying to Lure Back 'Lost' Billions," in the March 7, 1983 issue and "Rearming Japan," in the March 14, 1983 issue.