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January 2024
Amid a tough banking environment over the past few years, many Japanese banks streamlined their operations to achieve record profits. In addition, they are poised to increase their profitability due to potential rate increases. Mitsubishi UFJ Financial Group looks particularly attractive in today’s environment.
December 2023
Japanese equities are currently trading at compelling valuation levels compared to other developed equity markets around the world and relative to their own historical averages. We believe the Japanese market deserves a closer look.
When investing in Japanese businesses, we believe it is imperative to select a manager who is immersed in the culture and can perform in-depth, company-specific research to build a concentrated portfolio of Japanese companies that can outperform a benchmark and weather volatility.
November 2023
The Portfolio Managers of the Hennessy Japan Small Cap Fund provide insight on inflation in Japan and the rebound in tourism. They also discuss the Japanese market, valuations, and their outlook for domestic small-cap Japanese companies.
There has been renewed interest in Japan following Berkshire Hathaway’s increased investment in Japanese companies this year. The Portfolio Managers of the Hennessy Japan Fund highlight the main factors attracting investors and potential beneficiaries of continued economic growth in Japan.
June 2023
As a global conglomerate that operates businesses in various industries, Mitsubishi Corporation is Japan’s largest “sogo shosha,” uniquely Japanese trading companies.
Japan’s stock market has been one of the world’s best performing in 2023. In this Portfolio Perspective, the Portfolio Managers discuss potential catalysts for the market, Japan’s economic “sweet spot,” and Berkshire Hathaway’s increased investment in Japan.
May 2023
The Portfolio Managers of the Hennessy Japan Small Cap Fund provide their thoughts on the new Bank of Japan (BOJ) Governor’s policies, increased tourism, current valuations, changes to the portfolio, and an outlook for the rest of 2023.
Berkshire Hathaway has increased its investment in five Japanese trading companies, Mitsubishi Corp., Mitsui & Co., Sumitomo Corp., Itochu Corp., and Marubeni, with investors taking notice. With Buffett strengthening his focus on Japan, we believe investors should as well.
March 2023
Hennessy Japan Fund Portfolio Manager Masa Takeda discusses his 2023 outlook for the Japanese markets and what could drive a rerating of valuation multiples.
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