Despite the possibility that the government may block a hedge fund's bid to increase its stake in a power utility, Japan remains an attractive place to invest because of low valuations, Nikko Asset Management Co.'s president said recently.
Bill Wilder, who more than doubled Nikko's assets to $120 billion since joining from Fidelity Investments in 2004, said Japan has "some of the premier companies" in the world based on measures such as price-to-book ratios and earnings prospects.
The government for the first time cited national security concerns in opposing a bid by London-based The Children's Investment Fund Management LLP (TCI) to double its stake in Tokyo-based Electric Power Development Co., known as J-Power.