2018 was a difficult period for the Japanese equity market.
Unloved for a generation, Japan's equity markets are coming back into favour - and for good reason.
Shinzo Abe's landslide victory in last year's presidential election leaves him in an unprecedented position of power and likely to become the longest-serving Japanese premier ever.
How important are shareholders to a business? Normally, very important.
Everyone likes low prices, but if I said to you the level of Japanese consumer prices are now at the same level as way back in October 1998, then correctly you would conclude something is not quite right.
Stronger yen will translate into larger current account surplus
While many investors feel they can time markets, we try to avoid making such macro calls and attempt to identify structurally-inefficient markets.
We believe Japan is slowly emerging from its long period of deflation.