Some market strategists say major Japanese companies are poised to gain momentum after a solid fiscal 2014 paved the way for reaping even greater windfall from a weaker yen and plunging global oil prices give an extra boost to business activity.

This upbeat outlook for Japan Inc. is expected to sway corporate executives to approve pay hikes in the annual wage talks this spring, as requested by Prime Minister Shinzo Abe, stimulate tepid domestic demand and lift prices in the long run, these strategists said.

They say that with all these developments, Abe's bid to lift Japan out of its long deflationary malaise will get back on track. His efforts were derailed in part when the economy tumbled into recession after the first stage of the consumption tax hike last April and wages failed to keep pace with his inflation bid.