Why Hold Japan, Part I: Relative Tax Regimes
SummaryForeign investors now form the largest cohort of investors in Japanese stocks, according to Tokyo Stock Exchange data. Â Yet given Japan's...
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Sony Financial Group (8729) - Cheap Vs Peers and Growing Out of Its ROE Hole
Sony FG has underperformed Peers the last quarter. It's not clear why besides post-spinoff overhang. Sony FG has bought back shares. More to go....
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Lack of Term Premium Continues to Cost Japanese Banks with Limited Financial Flexibility
The Bank of Japan has just released its semiannual assessment on the financial system with an explicit focus on the negative interest rate...
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The Holy Grail of Reflation: "from Savings to Investment"
Recent large government privatisations (Japan Post and JR Kyushu) have brought with it a positive tendency, as we pointed out in The Reflationary...
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Structural Reform II: Political Economy Backdrop
 One of the enduring questions regarding Japan’s “lost decades of growth” remains the degree to which failure to grow owes to insufficient...
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