Japan, the world’s second-biggest equity market, is up 3.7 percent this year as measured by the Topix index, the most among the world’s 10 largest economies. Overseas investors pumped almost $13 billion into Japan during the two weeks ended Jan. 15, the most since 2004. Companies trade for an average 1.2 times book value, almost half the valuation for the Standard & Poor’s 500 Index, according to data compiled by Bloomberg.
Thats cheap but key drive will be earnings growth, I am of the opinion that the likes of Sony, Pansonic and Canon may just be shining stars in 2010. Read more at Bloomberg here.
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