For the first time in more than 15 years in Japan, the appetite for higher-risk assets such as equities is set to rise. There are three reasons for this, one cyclical and the others structural. First, the Japanese economy is on a sustainable growth path. Real wage growth is now positive, and employment is recovering as businesses use their much-improved profitability to expand.
Second, the political environment for enterprise and investment has been altered by the dramatic victory of Junichiro Koizumi in the September general election.
Thanks for your interest in Euromoney!
To unlock this article:
