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October 09, 2024
 

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Hideyuki Sano
An electronic ticker at the Tokyo Stock Exchange
BUSINESS
Oct 4, 2024
More stocks trade below book value in Japan despite reforms
About 38% of Topix 500 companies were trading below book value as of the end of September.
The Tokyo Stock Exchange in Tokyo. Japanese companies with directors that sit on multiple boards are facing the equity market’s displeasure as the bourse steps up pressure to improve corporate governance.
BUSINESS / Companies
Sep 27, 2024
‘Moonlighting’ directors are problem for company boards in Japan
The Tokyo bourse has demanded that firms in its blue-chip Prime section get at least a third of their board members externally.
The government has been encouraging people to shift some of the roughly ¥1 quadrillion held in bank accounts to the stock market, but leading candidates to be the next prime minister have avoided investing in stocks.
BUSINESS
Sep 24, 2024
LDP presidential candidates avoid investing in Japanese stocks
Two of the top candidates, Shinjiro Koizumi and Sanae Takaichi, report owning no shares.
Global investors are expecting the yen may rise further since the Bank of Japan raised interest rates in July.
BUSINESS / Markets
Sep 10, 2024
Yen rally prompts an unwind of hedges in Japanese stocks but investors wary of earnings hit
Expectations that the yen may strengthen further have prompted strategists to recommend unwinding currency hedges on Japanese shares that have outperformed peers.
Government Pension Investment Fund in Tokyo
BUSINESS / Markets
Sep 4, 2024
GPIF watchers say $1.75 trillion fund may buy more Japan stocks
GPIF is likely to have reclaimed its position as the world’s largest pension fund, thanks to the yen’s rebound after a brief slip earlier this year.
The yen's rebound is clouding an outlook for Japanese firms' earnings that have enjoyed a boost from the weak yen.
BUSINESS / Companies
Aug 22, 2024
Yen’s rebound threatens earnings growth in Japan
Weak demand in China and the risk of a slowing U.S. economy are fueling worries about how sustainable their earnings growth will be.
An electronic ticker at the Tokyo Stock Exchange in Tokyo earlier this month
BUSINESS
Aug 21, 2024
Sticky money stays in Japan while short-term players dump stocks
Foreign investors sold $5.28 billion in Japanese equities, cash and futures combined in the first week of August.
Bears think the best days for bank shares may be over, but for investors who are worried the yen may have further room to gain, bank shares have the additional benefit of having limited exposure to foreign-exchange fluctuations.
BUSINESS / Markets
Aug 7, 2024
Massive losses set stage for big rebound in Japan’s bank stocks
In the first three days of August, the Topix Banks index lost 26.5%, more than the 20.3% fall in the broader Topix index.
Shares faced historic sell-offs at the Tokyo Stock Exchange on Monday, but some retail investors see them as an opportunity to buy the dip, betting that the downturn is temporary.
BUSINESS / Markets
Aug 6, 2024
Japan’s retail investors show resiliency despite market turmoil
Some small investors chose the opportunity to buy the dip, betting that the market downturn was temporary.
Tsuyoshi Maruki, president of Strategic Capital, speaks online on Thursday after three of six candidates proposed by the firm for Daidoh's board positions secured a seat.
BUSINESS / Companies
Jun 28, 2024
Activist fund in Japan wins Daidoh board seats in rare victory
Daidoh's stock has more than tripled since activist fund Strategic Capital built a stake in the firm in November 2022.
Shareholders queue to enter a venue for SoftBank Group's annual general meeting in Tokyo's Koto Ward on Friday.
BUSINESS / Companies
Jun 26, 2024
Activist investing booms in Japan amid corporate governance reforms
International hedge funds and home-grown investors have turned the country into the world’s second-largest market for activists.
JPX CEO Hiromi Yamaji says the number of companies in the Topix index will be reduced to about 1,200 in the next review of the index, in 2028.
BUSINESS / Markets
Jun 20, 2024
Japan’s Topix to include broader range of companies, but fewer of them
The Topix index currently includes more than 2,000 stocks, with at least ¥83 trillion ($526 billion) of assets were linked to the gauge as of last year.
Since Koji Sato, 54, became Toyota CEO in April last year, the automaker has announced its biggest share buyback on record.
BUSINESS / Companies
Jun 19, 2024
Influx of new CEOs in Japan brings shift in generational mindset
Many of the new crop of leaders were in junior roles as the nation’s economic miracle unraveled, and they’re now seeking out new ways of doing things.
More than 2,100 companies, or about 98% of listed firms whose financial year ends in March, are due to hold their AGMs during the coming two weeks, according to the Tokyo Stock Exchange.
BUSINESS / Companies
Jun 18, 2024
Activists’ proposals hit record high for Japan’s AGM season
A total of 45 companies received proposals as of June 7, according to data compiled by Sumitomo Mitsui Trust Bank.
Japanese companies are raising payouts to shareholders as the Tokyo Stock Exchange pressures firms to improve capital efficiency and valuations.
BUSINESS / Markets
May 15, 2024
Japan firms boost dividends and buybacks, aiding Topix amid TSE pressure
The moves come as the Tokyo Stock Exchange pressures companies to improve capital efficiency and valuations, and have spurred a rebound in the Topix index.
More investors are calling on Japanese firms to abolish cross-shareholdings, a practice that has been criticized as undermining discipline in corporate governance and leading to anti-competitive behavior.
BUSINESS / Companies
Apr 26, 2024
Investor group calls for zero cross-shareholdings at Japanese firms
"Strategic shareholdings," where companies hold stocks in businesses they have ties with, have decreased slightly, but progress is slow.
The government, and the Tokyo Stock Exchange in particular, have been pushing for better governance among the country’s 3.7 million companies.
BUSINESS / Companies
Apr 25, 2024
Japan’s retail investors care about governance too, poll shows
Investors are increasingly aware of the need to hold corporate boards and executives to high standards.
The yen’s slide has pushed up import bills in Japan, keeping domestic consumer spending tepid, with analysts saying any gains in real wages may evaporate if the yen depreciates further.
BUSINESS / Economy
Apr 24, 2024
Investors loved weak yen boosting shares until it went too far
Concern is growing that the currency is becoming a liability for Japan’s economy and stocks.
Call loan brokers at Tokyo Tanshi in Tokyo in November. After decades of setting its benchmark rate near zero, the Bank of Japan is poised to tighten, spurring new opportunities for veteran traders after decades of setting its benchmark rate near zero.
BUSINESS / Markets
Mar 17, 2024
Japan’s $4 trillion offshore funds will ignore first BOJ hike
Only 40% of 273 respondents said the BOJ's first interest-rate hike since 2007 will prompt investors to sell foreign assets and repatriate the proceeds.
Currency dealers work in front of an electronic board showing the Korean Composite Stock Price Index (KOSPI) at a dealing room of a bank in Seoul. Officials in South Korea are taking a cue from Japan, where a push for corporate reforms has been one of the key drivers for a world-beating equity rally.
BUSINESS / Economy / FOCUS
Mar 2, 2024
South Korea faces long road in unlocking corporate value like Japan
As global investors scrutinize South Korea’s plans, they note a key hurdle — the prevalence of family-controlled businesses, or chaebols.
New Cabinet photo on government website had minor edits, Hayashi admits
An Oct. 1 picture of Prime Minister Shigeru Ishiba and his Cabinet posted on the website of the Prime Minister's Office (right) appears slightly different from one taken by a media agency (left). Chief Cabinet Secretary Yoshimasa Hayashi admitted on Monday that the photo underwent minor digital edits before being uploaded to the government website.
Rising sex tourism exposes loopholes in Japan's anti-prostitution law
While financial misfortunes during the COVID-19 pandemic may have driven some women to work the streets, others simply want more money to spend — or want to pay off their debts — at host clubs.
Experts move to allay replicon COVID shot fears in Japan amid backlash
A man receives a COVID-19 vaccine in Tokyo on Oct. 1. Experts say fears over the newly approved replicon vaccine are unwarranted.
Comedian Shinji Saito investigated over sexual assault
Yoshimoto Kogyo, the agency that manages comedy trio Jungle Pocket, announced in mid-September that group member Shinji Saito had been experiencing health issues and underwent hospitalization, and that he requested a hiatus.
Ishiba fends off questions on endorsement of scandal-tainted LDP members
Prime Minister Shigeru Ishiba speaks during a Lower House session on Monday.
Experts move to allay replicon COVID shot fears in Japan amid backlash
A man receives a COVID-19 vaccine in Tokyo on Oct. 1. Experts say fears over the newly approved replicon vaccine are unwarranted.
Rising sex tourism exposes loopholes in Japan's anti-prostitution law
While financial misfortunes during the COVID-19 pandemic may have driven some women to work the streets, others simply want more money to spend — or want to pay off their debts — at host clubs.
Important tool or alarmism? Japan experts split on megaquake advisories.
A damaged road in Wajima, Ishikawa Prefecture, on Jan. 6, after a major earthquake struck the area on New Year's Day
The furry performance-enhancers that are sweeping the world of sports
Dodgers star Shohei Ohtani and his dog, Dekopin, who delivered the ceremonial first pitch prior to a game against the Orioles on Aug. 28
The Japanese tech that could one day make Southeast Asia landmine-free
Dul Saroth (left) and Soeum Samrach, deminers with the Cambodian Mine Action and Victim Assistance Authority, practice using the Advanced Landmine Imaging System in Cambodia’s Siem Reap province in August.

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo’s Shinjuku Ward.
Kabukicho: Tokyo’s ‘stadium of desire’

Longform

Dul Saroth (left) and Soeum Samrach, deminers with the Cambodian Mine Action and Victim Assistance Authority, practice using the Advanced Landmine Imaging System in Cambodia’s Siem Reap province in August.
The Japanese tech that could one day make Southeast Asia landmine-free
By Anton L. Delgado

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