While China's world-beating stock market rally is generating headlines, some of the biggest Asia-focused hedge funds are looking further east for profits.
Hutchin Hill, Indus Capital Partners and Oasis Management (Hong Kong) are among firms touting winning trades among Japanese power producers, makers of foods and beverages and semiconductor parts.
A push by Prime Minister Shinzo Abe to improve corporate governance has made the market a favorite of hedge funds at the same time as fears that Chinese markets are entering bubble territory mount following gains of as much as 150 percent in the country's two best-performing stock market indexes during the past year.