Japan: Pipeline offers equities hope as listings slump

JAL re-listing seen as likely market catalyst; Nikko AM and Nexon other possible listings

Japanese equity markets have been understandably subdued since the March earthquake and subsequent nuclear scare. The group of asset managers publicly declaring the post-disaster period to be an excellent buying opportunity have been mostly ignored by global investors still deeply sceptical about Japan’s recovery prospects and its long-term growth. New issuance has slumped accordingly: Dealogic data show that in the first half of 2011 equity volumes fell 54% on the same period in 2010 to $14.9

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