Investing in Japan

Enzio von Pfeil, the author of Trade Myths: Globalization has left trade balances behind, is a Hong Kong-based investment advisor and he also manages his own family of funds using his Economic Clock. He is a regular contributor to Bloomberg TV and CNBC Asia. Enzio earned his Ph.D. in economics at the University [...]

Internet Initiative Japan (IIJI) (3774) is a Japanese internet service provider offering a full suite of connectivity and outsourcing services. It is a pioneer among Japanese internet-related companies, having originally listed its shares on the Nasdaq in 1999, before eventually listing in Tokyo (Mothers) in 2005 and later transitioning to Topix 1st Section. At the end [...]

Reuters (article in Japanese) reports that Goldman Sachs issued a report earlier this week that argues M&A will be the major theme for Japanese equities in 2010. Having a ‘macro’ investment theme for the start of each new year is a ritual for brokerages in Japan, although it seems no one ever has the resolve [...]

No doubt David Einhorn (Greenlight Capital) is an astute investor. Recently he declared his bearish view on JGBs, which subsequently has generated heavy interest among financial and political circles. Hats off to Gwen Robinson of FT Alphaville for solid ongoing coverage of the latest JGB tale (see JGBs and the ‘end’ of the short-squeeze fest). [...]

The Mainichi Shimbun (original in Japanese) reported early Thursday that Japanese Government Bonds’ (JGBs) popularity is rapidly falling among individual investors. Beginning in 2003, the Ministry of Finance (MoF) has sold two types of JGBs (a fixed-rate 5-year and a variable-rate 10-year) four times a year to individual investors. However, as interest rates have [...]

More often than not, it is overseas factors that have the largest influence on trading in Japan. However, from time to time there is enough commotion domestically that also warrants the attention of investors. Unfortunately, the cacophony coming out of the government these days is more concerning than usual (e.g. Japan Post management/reform, debt moratorium, [...]

This brief post was inspired by a Bloomberg story on Asian currency strength — a good read, by the way. My thoughts: an even stronger Korean won would bring some relief to Japanese exporters. However, it’s not clear just how much (for instance, consider the volume of autos sold by JP vs SK) with such [...]

Global central bank rates (Brazil 8.75%, South Africa 7.0%, Mexico 4.5%, Australia 3.25%, New Zealand 2.5%, ECB 1.0%, UK 0.5%, USA 0.25%, Canada 0.25%, Switzerland 0.25%, Japan 0.11%) as of October 16, 2009. See chart image below. [Source: Bloomberg; Central Bank web sites]

Below is an extract of the latest data from the U.S. Treasury concerning foreign holders of U.S. Treasuries (year-to-date through the end of August). At least for now, the fear of foreigners dumping Treasuries can be allayed, although it is clear there is some month-month volatility from a key buyer (see the figures for Mainland [...]

For those in the area, below is a list of upcoming talks hosted by Japan Society New York. Click the respective link for additional information and for registration. Oct. 20   Financial Reporting Reliability & Transparency: Activities of FASB & the ASBJ during the Financial Crisis Oct. 27   Boeing & Japan: A Strategic Partnership for 21st-Century [...]