Japan Economist, Japan Macro Advisors

Takuji Okubo

Japan Economist

Concise and Insightful Analysis on Japan Economy

Japan Macro Advisors

Our mission is to provide a concise and timely analysis on the Japanese economy for the benefit of global audiences. Communication, especially in foreign languages, has always been a weakness for the Japanese, which was fine when Japan's economic might attracted foreign media and various other institutions to study and report on Japan - such days are long gone. In the last two decades, we saw foreign institutions reallocating their resources from Japan to other more exciting parts of the world. As a result, when we read reporting on Japan in foreign media, we sense a subtle but noticeable decline in the depth of understanding what is actually happening in Japan.

Macroeconomics

Until recently, foreign workers were not of macroeconomic concern as the number was too small. As foreign workers now account for 2% of the total workforce and the number is growing nearly 20% per year, it could soon start to have a meaningful economic impact on Japan's labor market, consumption and most importantly, on the longer-term growth outlook for Japan.  The official stance of the Japanese government, especially that of the current Prime Minister Abe, is that Japan is not open to…

Until recently, foreign workers were not of macroeconomic concern as the number was too small. As foreign workers now account for 2% of the total workforce and the number is growing nearly 20% per year, it could soon start to have a meaningful economic impact on Japan's labor market, consumption and most importantly, on the longer-term growth outlook for Japan.   The official stance of the Japanese government, especially that of the current Prime Minister Abe, is that Japan is not open to…

What could the Bank of Japan do if it is to face a recession? This question is the foremost critical challenge for Mr. Kuroda in the next five years. It has already been ten years since the last global recession, and we should not be surprised to see another one around the corner. The BoJ may be able to start an exit process in a year or two, but if a recession is to happen within the next few years, we expect most of the current easing policies, such as the -0.1% short-term policy rate, to be…

What could the Bank of Japan do if it is to face a recession? This question is the foremost critical challenge for Mr. Kuroda in the next five years. It has already been ten years since the last global recession, and we should not be surprised to see another one around the corner. The BoJ may be able to start an exit process in a year or two, but if a recession is to happen within the next few years, we expect most of the current easing policies, such as the -0.1% short-term policy rate, to be…

Kuroda's Next 5 Years (Part 2): Prepare to Ease Again

On February 9, the Japanese government leaked their intention to reappoint the BoJ governor Haruhiko Kuroda when his current term expires on April 8. What are the key challenges for Mr. Kuroda in the next 5 years? On the upside, Mr. Kuroda may need to engineer an exit from the current stimulative monetary policy. On the downside, there is the seemingly impossible task of how to devise additional stimulus if the Japanese economy faces a downturn under his watch.  An exit from the current…

On February 9, the Japanese government leaked their intention to reappoint the BoJ governor Haruhiko Kuroda when his current term expires on April 8. What are the key challenges for Mr. Kuroda in the next 5 years? On the upside, Mr. Kuroda may need to engineer an exit from the current stimulative monetary policy. On the downside, there is the seemingly impossible task of how to devise additional stimulus if the Japanese economy faces a downturn under his watch.   An exit from the current…

Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Bottom-Up

<ul>
<li>
Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.</li>
<li>
 Highlights: Currently 16 pair trade opportunities persist across four markets and nine sectors. 
</li>
<li>
Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.</li>
</ul>



Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.

 Highlights: Currently 16 pair trade opportunities persist across four markets and nine sectors. 


Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.


Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (9 May 2026)

<ul>
<li>
Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.</li>
<li>
 Highlights: Currently 16 pair trade opportunities persist across four markets and ten sectors.</li>
<li>
Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.</li>
</ul>



Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.

 Highlights: Currently 16 pair trade opportunities persist across four markets and ten sectors.

Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.


Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (4 May 2026)

Japan

TOPIX ETF is an Exchange-traded fund which holds a portfolio representing all stocks in the Tokyo Price Index (TOPIX).  The objective of the trust is to provide investment results that corresponds to the price and yield performance of the component securities of the Tokyo Price Index.

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Nomura ETF Topix (1306 JP)

The Rise of Foreign Workers in Japan

Until recently, foreign workers were not of macroeconomic concern as the number was too small. As foreign workers now account for 2% of the total...

Takuji Okubo

Kuroda's Next 5 Years (Part 2): Prepare to Ease Again

What could the Bank of Japan do if it is to face a recession? This question is the foremost critical challenge for Mr. Kuroda in the next five...

Takuji Okubo

Kuroda's Next 5 Years

On February 9, the Japanese government leaked their intention to reappoint the BoJ governor Haruhiko Kuroda when his current term expires on April...

Takuji Okubo

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (9 May 2026)

Discover 16 pair trade opportunities across four markets and nine sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (4 May 2026)

Discover 16 pair trade opportunities across four markets and ten sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Rise of Foreign Workers in Japan

Until recently, foreign workers were not of macroeconomic concern as the number was too small. As foreign workers now account for 2% of the total...

Takuji Okubo

Kuroda's Next 5 Years (Part 2): Prepare to Ease Again

What could the Bank of Japan do if it is to face a recession? This question is the foremost critical challenge for Mr. Kuroda in the next five...

Takuji Okubo

Kuroda's Next 5 Years

On February 9, the Japanese government leaked their intention to reappoint the BoJ governor Haruhiko Kuroda when his current term expires on April...

Takuji Okubo

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (9 May 2026)

​Discover 16 pair trade opportunities across four markets and nine sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (4 May 2026)

​Discover 16 pair trade opportunities across four markets and ten sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

Discover 16 pair trade opportunities across four markets and nine sectors using statistical mean-reversion methodology for actionable insights.

Discover 16 pair trade opportunities across four markets and ten sectors using statistical mean-reversion methodology for actionable insights.