276. Japan’s resilience and debunking deglobalisation

Delve into Japan's economic landscape and its place in the world with Sam Perry, manager of the Pictet Japanese Equity Selection fund. Sam gives a critical examination of the perception of deglobalisation and its impact on Asia and Japan, before shifting to Japan's unique economic environment and newfound – and welcome - inflation. We also consider how Japan's recent economic stimulus and policies have shifted the narrative, with increased investment opportunities and economic growth, the “inefficiency” and misconceptions of the Japanese equity market and the long-term prospects for the car industry in Japan. 

What’s covered in this episode: 

• Why the globalisation genie is already out of the bottle
• How US/China tensions influence Japanese companies
• Why iPhones will never be built in the US
• The reshuffling of supply chains and what that means for Japanese companies 
• What a pair of Jeans can tell us about the cost of labour
• A brief history of Japanese banks and inflation rates
• Why inflation in Japan is so different from the US or UK today
• Can outperformance in Japan continue? 
• How Japanese companies are coping with rising costs
• Is the Japanese market the most inefficient equity market? 
• Why under-researched Japan provides opportunities for active managers
• Why the Pictet Japanese Equity Selection fund doesn’t have a style bias
• The opportunity in car manufacturers today 
• The strength in Toyota’s battery technology

More about the fund: 

The Pictet Japanese Equity Selection strategy is a focused approach that commits to long-term investments in large and mid-sized enterprises. Employing a blend of market evaluation and in-depth company analysis, the fund manager identifies Japanese firms that actively endorse strong environmental and governance standards while presenting promising growth potential at an attractive valuation.

Learn more on fundcalibre.com

Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are based on FundCalibre’s research methodology and are the opinion of FundCalibre’s research team only.

Learn more on fundcalibre.com

Please remember, we’ve been discussing individual companies to bring investing to life for you. It’s not a recommendation to buy or sell. The fund may or may not still hold these companies at the time of listening. Elite Ratings are based on FundCalibre’s research methodology and are the opinion of FundCalibre’s research team only.