Making the case: Active allocation to Japanese equities

By January 13, 2020 17:44

Making the case: Active allocation to Japanese equities

As it continues to bounce back from a prolonged period of contraction, the Japanese economy offers an attractive opportunity set to investors, says Miyuki Kashima, Head of Japanese Equities, BNY Mellon Asset Management Japan Limited.

Economic growth has seen Japan go from zero to hero in recent years. Most notably, nominal GDP growth YoY has now been positive for 21 consecutive quarters. For Kashima, this spurt of growth is a major milestone. After many years in the doldrums, nominal GDP is above ¥533 trillion, meaning the economy has finally recovered the ground lost over two long decades of decline. “GDP has recovered very nicely since start of Abenomics1 , and at last we’re back to the level of 1997 when deflation started,” she says. “Even so, we still have a long way to go before we reach the government’s nominal GDP target of ¥600 trillion so there’s no reason for a change in direction just yet. “If you step back and look at what the government promised on the economy and what it’s actually achieved, it’s pretty impressive. We think it points the way to a positive outlook for investors.”

By January 13, 2020 17:44


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January 2020