De Japanse renaissance houdt meer in dan relatief goedkope waarderingen.
Japan has experienced quite a year so far. One of the highlights occurred in April, with a visit by Warren Buffett of Berkshire Hathaway. The timing of this visit, ahead of Japan’s full-year earnings season from April to May, proved quite symbolic. The “sage of Omaha” has a longstanding reputation for picking winners, and his visit really was a catalyst for Japanese equities to continue their march upwards. In July, both the TOPIX Index and the Nikkei 225 rose to their highest levels since 1990, and the positive momentum has continued since. Berkshire Hathaway subsequently increased its stakes in five major trading companies in Japan (Itochu, Marubeni, Mitsubishi Corp, Mitsui & Co and Sumitomo), cementing the world-renowned investor’s faith in Japanese businesses.
