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Year 2023

Spotlight on Asia - Time for ESG Investment in Japan

China Macro Economy and Equity Market Outlook – Q4 2023

Outlook for Japanese Stock Market & Economy - November 2023

China Markets Newsletter - October 2023

Outlook for Japanese Stock Market & Economy - October 2023

Outlook for Japanese Stock Market & Economy - September 2023

China Markets Newsletter - September 2023

China Macro Economy and Equity Market Outlook – Q3 2023

Outlook for Japanese Stock Market & Economy - August 2023

Using China A Shares to access China's ESG story - July 2023

Outlook for Japanese Stock Market & Economy - July 2023

China's Financial Sector - June 2023

Outlook for Japanese Stock Market & Economy - June 2023

Rethinking the China investment opportunity - June 2023

China Markets Newsletter - May 2023

China Macro Economy and Equity Market Outlook – Q2 2023

Outlook for Japanese Stock Market & Economy - May 2023

Outlook for Japanese Stock Market & Economy - April 2023

China Economic Report - 2023 NPC Review

White Paper - Managing China exposure: the case for China A Shares

Outlook for Japanese Stock Market & Economy - March 2023

China Macro Economy and Equity Market Outlook – Q1 2023

Outlook for Japanese Stock Market & Economy - February 2023

Outlook for Japanese Stock Market & Economy - January 2023

Year 2022

China Macro Economy and Equity Market Outlook – Q4 2022

Outlook for Japanese Stock Market & Economy - December 2022

Outlook for Japanese Stock Market & Economy - November 2022

Outlook for Japanese Stock Market & Economy - October 2022

Outlook for Japanese Stock Market & Economy - September 2022

China Macro Economy and Equity Market Outlook – Q3 2022

Outlook for Japanese Stock Market & Economy - August 2022

Outlook for Japanese Stock Market & Economy - July 2022

Outlook for Japanese Stock Market & Economy - June 2022

Outlook for Japanese Stock Market & Economy - May 2022

Outlook for Japanese Stock Market & Economy - April 2022

Outlook for Japanese Stock Market & Economy - March 2022

Outlook for Japanese Stock Market & Economy - February 2022

Outlook for Japanese Stock Market & Economy - January 2022

Year 2021

Outlook for Japanese Stock Market & Economy - December 2021

Outlook for Japanese Stock Market & Economy - November 2021

Outlook for Japanese Stock Market & Economy - October 2021

Outlook for Japanese Stock Market & Economy - September 2021

Outlook for Japanese Stock Market & Economy - August 2021

Outlook for Japanese Stock Market & Economy - July 2021

Outlook for Japanese Stock Market & Economy - June 2021

Outlook for Japanese Stock Market & Economy - May 2021

Outlook for Japanese Stock Market & Economy - April 2021

REIT Monthly March 2021

Outlook for Japanese Economy & Stock Market - March 2021

REIT Monthly February 2021

Outlook for Japanese Economy & Stock Market - February 2021

REIT Monthly January 2021

Year 2020

Outlook for Japanese Economy & Stock Market - January 2021

REIT Monthly December 2020

Outlook for Japanese Economy & Stock Market - December 2020

REIT Monthly November 2020

Outlook for Japanese Economy & Stock Market - November 2020

Asia Macro & Market 4Q 2020 Outlook

REIT Monthly October 2020

Outlook for Japanese Economy & Stock Market - October 2020

REIT Monthly September 2020

Outlook for Japanese Economy & Stock Market -September 2020

REIT Monthly August 2020

Outlook for Japanese Economy & Stock Market -August 2020

Asia Macro & Market 3Q 2020 Outlook

REIT Monthly July 2020

Outlook for Japanese Economy & Stock Market -July 2020

REIT Monthly June 2020

Outlook for Japanese Economy & Stock Market -June 2020

REIT Monthly May 2020

Outlook for Japanese Economy & Stock Market -May 2020

Asia Macro & Market 2Q 2020 Outlook

REIT Monthly April 2020

Outlook for Japanese Economy & Stock Market -April 2020

REIT Monthly March 2020

Outlook for Japanese Economy & Stock Market -March 2020

REIT Monthly February 2020

Outlook for Japanese Economy & Stock Market -February2020

REIT Monthly January 2020

Year 2019

Outlook for Japanese Economy & Stock Market -January2020

REIT Monthly December 2019

Asia Macro & Market 4Q 2019 Outlook

Outlook for Japanese Economy & Stock Market -December2019

REIT Monthly November 2019

Outlook for Japanese Economy & Stock Market -November2019

REIT Monthly October 2019

Outlook for Japanese Economy & Stock Market -October2019

REIT Monthly September 2019

Outlook for Japanese Economy & Stock Market - September 2019

REIT Monthly August 2019

Outlook for Japanese Economy & Stock Market - August 2019

Asia Macro & Market 3Q 2019 Outlook

REIT Monthly July 2019

Outlook for Japanese Economy & Stock Market - July 2019

REIT Monthly June 2019

Outlook for Japanese Economy & Stock Market - June 2019

REIT Monthly May 2019

Outlook for Japanese Economy & Stock Market - May 2019

REIT Monthly April 2019

Japanese Stock Market Outlook April 2019

REIT Monthly March 2019

Japanese Stock Market Outlook March 2019

REIT Monthly February 2019

Japanese Stock Market Outlook February 2019

Asia Macro & Market 1Q 2019 Outlook

REIT Monthly January 2019

Year 2018

Japanese Stock Market Outlook December 2018 & January 2019

REIT Monthly December 2018

REIT Monthly November 2018

Asia Macro & Market 4Q 2018 Outlook

REIT Monthly October 2018

Japanese Stock Market Outlook November 2018

Japanese Stock Market Outlook October 2018

REIT Monthly September 2018

Japanese Stock Market Outlook September 2018

REIT Monthly August 2018

Asia Macro & Market 3Q 2018 Outlook

Japanese Stock Market Outlook August 2018

REIT Monthly July 2018

Japanese Stock Market Outlook July 2018

REIT Monthly June 2018

Japanese Stock Market Outlook June 2018

REIT Monthly May 2018

Japanese Stock Market Outlook May 2018

REIT Monthly March 2018

REIT Monthly April 2018

Asia Macro & Market 2Q 2018 Outlook

Japanese Stock Market Outlook April 2018

REIT Monthly February 2018

Japanese Stock Market Outlook March 2018

REIT Monthly January 2018

Japanese Stock Market Outlook February 2018

Asia Macro & Market 1Q 2018 Outlook

Year 2017

REIT Monthly December 2017

Japanese Stock Market Outlook January 2018

REIT Monthly November 2017

Japanese Stock Market Outlook December 2017

REIT Monthly October 2017

Japanese Stock Market Outlook November 2017

Japanese Stock Market Outlook October 2017

REIT Monthly September 2017

Asia Macro & Market 4Q 2017 Outlook

Japanese Stock Market Outlook September 2017

REIT Monthly August 2017

REIT Monthly July 2017

Japanese Stock Market Outlook August 2017

Japanese Stock Market Outlook July 2017

REIT Monthly June 2017

Japanese Stock Market Outlook June 2017

REIT Monthly May 2017

Japanese Stock Market Outlook May 2017

REIT Monthly April 2017

Japanese Stock Market Outlook April 2017

Asian Macro & Market Outlook March 2017

REIT Monthly March 2017

Japanese Stock Market Outlook March 2017

REIT Monthly February 2017

Asian Macro & Market Outlook February 2017

Japanese Stock Market Outlook February 2017

Asian Macro & Market Outlook January 2017

REIT Monthly January 2017

Year 2016

Japanese Stock Market Outlook January 2017

REIT Monthly December 2016

Asian Macro & Market Outlook December 2016

Japanese Stock Market Outlook December 2016

REIT Monthly November 2016

Asian Macro & Market Outlook November 2016

Japanese Stock Market Outlook November 2016

REIT Monthly October 2016

Asian Macro & Market Outlook October 2016

Japanese Stock Market Outlook October 2016

Asian Macro & Market Outlook September 2016

REIT Monthly September 2016

Japanese Stock Market Outlook September 2016

Asian Macro & Market Outlook August 2016

REIT Monthly August 2016

Japanese Stock Market Outlook August 2016

REIT Monthly July 2016

Asian Macro & Market Outlook July 2016

REIT Monthly June 2016

Asian Macro & Market Outlook June 2016

Japanese Stock Market Outlook June 2016

Asian Macro & Market Outlook May 2016

REIT Monthly May 2016

Japanese Stock Market Outlook May 2016

Asian Macro & Market Outlook April 2016

REIT Monthly April 2016

Japanese Stock Market Outlook April 2016

Asian Macro & Market Outlook March 2016

REIT Monthly March 2016

Japanese Stock Market Outlook March 2016

Asian Macro & Market Outlook February 2016

REIT Monthly February 2016

Japanese Stock Market Outlook February 2016

Asia Macro & Market Outlook January 2016

REIT Monthly January 2016

Year 2015

Japanese Stock Market Outlook January 2016

Asia Macro & Market Outlook December 2015

REIT Monthly December 2015

Japanese Stock Market Outlook December 2015

Asia Macro & Market Outlook November 2015

REIT Monthly November2015

Japanese Stock Market Outlook November 2015

Asia Macro & Market Outlook October 2015

REIT Monthly October 2015

Japanese Stock Market Outlook October 2015

Asian Stock Market Outlook September2015

REIT Monthly September 2015

Japanese Stock Market Outlook September 2015

Asian Stock Market Outlook August 2015

REIT Monthly August 2015

Japanese Stock Market Outlook August2015

REIT Monthly July 2015

Asian Stock Market Outlook July 2015

Japanese Stock Market Outlook July 2015

REIT Monthly June 2015

Asian Stock Market Outlook June 2015

Japanese Stock Market Outlook June 2015

REIT Monthly May 2015

Asian Stock Market Outlook May 2015

Japanese Stock Market Outlook May 2015

REIT Monthly April 2015

Asian Stock Market Outlook April 2015

Japanese Stock Market Outlook April 2015

REIT Monthly March 2015

Japanese Stock Market Outlook March 2015

REIT Monthly February 2015

Japanese Stock Market Outlook February 2015

REIT Monthly January 2015

Market Outlook for China A Shares Equity Market - November 2023

Spotlight on Asia – Time for ESG Investment in Japan

Spotlight on Asia – Why Active Management in Japan?

Spotlight on Asia - Unlocking Value in Japan Small Cap

Outlook for China A Shares Equity Market - August 2023

Key risks for China’s economy and society– Key takeaway from Webinar

Why invest in China A shares? – Key takeaway from Webinar

Market Outlook for China A Shares Equity Market - May 2023

Spotlight on Asia – Why Japan Value Now?

Spotlight on Asia - Evolution of Japan Small-Cap Equities

Spotlight on Asia - Evolution of Japanese Corporate Governance

Spotlight on Asia – Japanese Economy Outlook – October 2022

Spotlight on Asia – Global & Asian Economy Outlook – October 2022

SMDAM’s View on Chinese Economy – September 2022

SMDAM’s View on China A Shares

Spotlight on Asia - Will Ukraine crisis affect Japanese market?

Spotlight on Asia - Time for Value Rhymes with Small-cap

Spotlight on Asia - Japanese Economy : Optimistic or Pessimistic?

Year 2018

Is imbalance between supply and demand the reason of Japnese stock market fall?

Japanese government accepts more "foreign workers"

Osaka to host the "World Expo" - What would be the impact on economy?

October "Office Vacancy Rate" improved further 2.20%

"Street Business Sentiment", improved for the first time in two months

Japanese small cap stocks became undervalued - Testing the bottom supported by solid profit growth

Solid Asia Pacific REIT Market (August 2018)

Despite good earnings result, Japanese equity market is waiting for sentiment improvement

Solid Asia Pacific REIT Market (July 2018) - Market focuses on defensive nature of REITs

"Street Business Sentiment," Both Current and Future DIs rose

"Tankan survey"; large manufacturers business confidence deteriorated for 2 consecutive quarters

Nikkei 225 Index's Market Outlook of Coming Summer Season

What's revealed after Nikkei Average Recovered to JPY23,000

Japanese Equity Market Outlook - High linkage between Global Manufacturing PMI and Japanese equity market

Asia Pacific REIT Market was resilient (March 2018) - A tag of war between long-term interest rate fall and stock market fall

Impact of "Cabinet Approval Rating" fall on the Japanese equity market

Reason of "Stronger JPY" despite widening yield spread of Japan and US

January "Office Vacancy Rate" in Tokyo's five central Wards improved moderately

"Real GDP"; positive growth for 8 consecutive quarters

"Spring Festival" holidays continues to increase tourism demand this year

Japanese Equity Market Outlook - Long-term earnings growth drives Japanese small-cap stocks higher

Year 2017

"Tankan survey"; record-high for the first time in 11 years

Japanese Equity Market Outlook - What are the conditions to enter new market phase?

Japan’s “Economic Recovery” alongside Record-high Economic Indicators

Update on Japanese Equity Market Outlook

September “Office Vacancy Rate” in Tokyo’s five central Wards was 3.17%

“Street Business Sentiment”, Current Conditions DI revised upward

Lower House election: market reaction analysis by election result patterns

"Tankan survey" recovered to a 10 year high

Nikkei 225 : Why at a stalemate for the first time in 31 years and a half

Development race of "Autonomous Car" is accelerating (Japan)

Buoyant Inbound Tourism Consumption due to increase in "Visitor Arrivals" to Japan

Transformation of "General Shareholders' Meeting" in Japan

Profitability renewed its record high since 1985

Nikkei 225 Index Recovered to 20,000 level

“Department Store Sales” rose for the first time in 14 months

Japan's "Visitor Arrivals" continues to renew its record high

“Street Business Sentiment” improved for the first time in 5 months

“Office Vacancy Rate”, improved after temporal stagnation

"Nikkei 225 and watershed level of 20,000"

BOJ’s Monetary Policy (April 2017)

“Golden Week holidays” ; Number of overseas travelers almost at its past record high

“Autonomous Car” gets popular in our daily life (Japan)

“Sakura Report” shows improving economy

“Street Business Sentiment” continues to be subdued

Price hike and its impact on “Consumer Price”

2017 Spring Wage Negotiation – Pay-rise for 4 consecutive years

"Office Vacancy Rate", moderate improvement in February

"AI" makes life more convenient!

“MOF Corporate Statistics”; Capex increased

“Street Business Sentiment”, subdued consumption continues

"Real Wages" turned positive after 5 years (Japan)

Increasing shareholder return such as "Dividends" (Japan)

Impact of US's Yen devaluation claim on the Japanese equity

"Premium Friday" starts! (Japan)

2017 "Shunto" to call on 4 consecutive years of pay scale increase

Unchanged: Likely to maintain current policy for the time being

Consumption trend change reflected in “Nationwide Department Store Sales”

Solid performance of Japanese Small-cap equity market

Make use of “iDeCo” for household asset building

US President's Inauguration Speech / Impact on Japanese equity

Japan's "Visitor Arrivals" revised its record high

Ongoing recovery on solid tone in global economy and supportive policy measures

“Sakura Report”, three regions were revised upward

First break in improvement of “Street Business Sentiment” in 6 months

"Office Vacancy Rate" starts to improve again

"Japanese equity market (January 2017)"

"2017 USD/JPY Exchange Rate Outlook"

2017 Japanese Equity Market Outlook

Year 2016

Major Japanese Corporations' Earnings Outlook

"Integrated Resorts" Promotion Bill was enacted

"Japanese corporate earnings forecast"

"GDP" growth rate was revised based on new measurement standard

"Street Business Sentiment" continues to improve

The government moves forward "Integrated Resort"development in Japan

Japanese Equity Market – What to Focus on from here

July-September 2016 "MOF Corporate Statistics"

Japanese "Employment Environment" continue to improve

"Total Population of Japan" is decreasing

Number of "Foreign Visitors" Surpassed 20 million (Japan)

Interim results of Japanese Automakers

Office rent of Tokyo's central district rose for 34 consecutive months

JPY has turned to decline against USD

"Street Business Sentiment" improved by weather restoration

A night after " US President Donald Trump " was elected

BOJ's Monetary Policy Unchanged: Likely to maintain current policy for the time being

Economic recovery to continue for a while underpinned by economic measures

Investment Climate: "Inflation" and "Monetary Policy"

Japanese corporates' Apr. - Sep. 2016 financial results

Technical Analysis of USD/JPY Rate

AI (Artificial Intelligence), the hottest topic! (Part-2)

AI (Artificial Intelligence), the hottest topic!

"Sakura Report", two regions were revised upward

"Street Business Sentiment" declined marginally by weather factor

"Office Vacancy Rate" improved in September

USD/JPY rate forecast till 2016 year end

Can BOJ control yield curve?

"Yield Curve" of Japanese Government Bond (JGB)

"Benchmark Land Price" of business area increased after 9 years

Where would BOJ's new monetary policy settle down?

BOJ's Assessment Results and Initial Market Reactions

Active "Senior" is increasing year by year!

"Office Vacancy Rate" improved further in August

"Comprehensive Review" of monetary policy

"Street Business Sentiment" improved for 2 straight months

How to observe short term USD/JPY exchange rate

Wages rose sharply for 2 straight months

Moderate recovery supported by economic measures

Capex keeps growing

BOJ to rethink over monetary policy

Boiling hot summer in Japan

Japan's share prices and USD/JPY FX rate

Tourists' explosive shopping slows?

Japanese equity market August 2016

Increasing female workers

Japan sees record high inbound tourists

Outdoor leisure activities are getting popular

Japan's GDP growth Apr-Jun 2016

Negative Interest Rate Policy: Impact on Bank Stocks

Business sentiment ticks up

"Office Vacancy Rate", improved to 3% level in July

Go Japan with Pokémon GO

When BOJ buys ETFs

BOJ's assessment on its monetary policy

Inbound tourists still increasing in Japan

BOJ's monetary policy and Japanese market response

Japan's office vacancy rate

Japanese stock market outlook

Trend in Japan's Shareholders' Meeting

Comment on Brexit

Japan braces for increasing foreign tourists

Japan's shareholder return ratio

"Tokyo office rent grows while vacancy rate declines"

FY2016 Japan's corporate earnings outlook

"Street Business Sentiment", Future Conditions DI Improved

Implication of PM Abe's press conference to the Japanese equity market

Japan's Capex is on growing trajectory

Outlook on crude oil prices

Japan set to delay sales tax hike

Japan still sees growing inbound tourists

Path to Nikkei 225 Index of JPY 18,000

"Japan's Summer Bonus" grow for 3 years in a row

Will current weaker JPY and higher stock price continue?

Labor survey shows strong wage growth in Japan

Monetary Policy Meeting of US and Japan

Current trend and outlook of the Japanese equity market

What is "the Benchmark Ratio" of BOJ?

"Tourism Vision to Support the Future of Japan"

Street Business Sentiment - Future Conditions DI Dropped

Trigger for reversal of JPY appreciation

Postponement of Consumption Tax Hike and its Impact to Japanese Equity

What to focus on "Tankan survey"

"Foreign Visitors" marked Second Historical High

"New Condominium Sales" were lower than Previous Year

BOJ's Monetary Policy March 2016

Street Business Sentiment Gloomed

Major Japanese Corporations' Earnings Outlook

January "Foreign Visitors" - Solid Numbers

Japanese Economic Analysis (February2016) - Economy to recover moderately to positive growth

Office Vacancy Rate improved further in January

Interest Rate Formation Mechanism after Introduction of Negative Interest Rate by BOJ

Japanese equities oversold again, although underpinned by low interest rates

Street Business Sentiment - Future Conditions DI Improved

Outlook of "TPP" after signing

Impact of BOJ's Policy Decision to the Japanese Equitiy and Currency markets

Foreign Visitors related business became a Key Industry

December Street Busines Sentiment Current Conditions DI Improved

Keyword to look back 2015 - "NISA" accounts are steadily increasing

Japanese Equity - 2015 Review & 2016 Outlook

Keyword to look back 2015 - "Inbound Tourism Consumption"

Keyword to look back 2015 - "TPP"

Year 2015

Japanese Economic Outlook for Year 2016

USD/JPY aftermath of FRB Interest Rate Hike & BOJ's Policy Decision

BOJ's Monetary Policy (December 2015)

Business Outlook Survey (Oct.-Dec. 2015)

BOJ's Tankan and Market Outlook

Re-examining the Impact of Low Crude Oil Price

Major Japanese Corporations' Earnings Outlook

Relationship between "TPP Policy Paper" and New 3 Arrows

Summarizing the points of BOJ's Theory of Monetary Policy

Foreign Visitors increased. Is it a Global Boom?

Street Business Sentiment improved

Nikkei 225 Index and the JPY20,000 Milestone

Japanese GDP Growth (The first Preliminary Jul-Sep 2015 number)

BOJ's "Outlook Report"

Apr.-Sep. 2015 Business Results and Japanese Stock Market Outlook

Hotel Occupancy Rate is rising sharply

Women's "Labor Force" ratio rose

Japanese Corporations' Earnings Outlook

Listing of "3 Japan Post Group Companies"

Background of recent Japanese Market Rally and its Outlook

When does BOJ purchase ETFs?

Foreign Visitors reaching 20 million a year

Reduction of the "Effective Corporate Tax Rate"

Abenomics 2.0 : The New Three Arrows

Japanese Stock Market Outlook for the rest of the year

Office Vacancy Rate improved further in September

BOJ's Policy Board Members & Monetary Policy Outlook (Part2)

Corporate Goods Price Index dropped 4 consecutive months

Street Business Sentiment - Future Conditions DI of Household Activity Improved

BOJ's Policy Board Members & Monetary Policy Outlook (Part1)

September "Tankan" Survey saw Upward Revision of Capex

Japanese Market Outlook - Strategist View

Is the Trend in "Prices" still Steady?

Consumption of Foreign Visitors, Positive to Land Prices

Street Business Sentiment shows impact of global stock market plunge

Real Wages turned positive after 2 years and 3 months

MOF Corporate Statistics is in good shape

Jul-Sep GDP growth rate likely to return to positive

Latest Financial Market Trends -- Explore the possiblity of Chinese economic recovery

White Paper on Leisure - Leisure Market is Expanding

Focus is on Risk of Chinese economic downturn

Consumer Prices and BOJ's Policies

Negative Apr-Jun Japanese GDP growth, recovery expected in 2H

Street Business Sentiment shows increase in sales of summer goods

Major Japanese Corporates' Earnings Outlook

Expansion of "Inbound Tourism Consumption" will continue

NISA accounts are steadily increasing

Economy is expected to modestly recover after a brief weakening

Focus in Japanese Stock Market

Domestic trip is the first choice for this summer vacation

Will Shareholder return of Japanese companies increase?

Office Vacancy Rate continues to improve

Consideration on Chinese Shares' plunge

Street Business Sentiment shadowed by weak JPY

June "Tankan" survey showed business confidence improving

Consumer Prices to rise moderately

General Shareholders' Meeting, focusing on dialogue with investors

BOJ's MPM framework revised for further transparency

Number of foreign visitors to exceed 18 million this year

What is FY2015 Japanese corporate earnings like?

Consumption on Services is improving

Central Tokyo - Improving Office Vancancy rate with rising Office Rent

Is Japanese equity market in a "Bubble" phase?

Stock Market after US Jobs Report

Economic data shows expanding domestic demand

Improvement of "Street Business Sentiment" spreading gradually

The effect of consumption tax hike diminished

Real Wages turned Positive in April

Capex accelerated in Jan-Mar 2015

Continued Inflow to Indian & Japanese Equity funds in May

Bank of Japan's Inflation Targeting

New graduates' Job market almost at its record high

USD/JPY and Japanese Stock Market Outlook

Is Japan's company forecast conservative for FY2015?

BOJ raised economic outlook, keeping policy on hold

Nationwide Department Store Sales accelerate

Japanese Stock Market Outlook - Extra Issue

Summer Bonus will grow for 2 consecutive years

Improvement of "Street Business Sentiment", spreading nationwide

NISA offers a smart Tax Saving

BOJ's policy unchanged, Stocks fall following US data

Cycle of "Corporate earnings expansion - Wage growth - Consumption recovery" expected

Golden Week holidays reflects economic recovery

Private Consumption is expected to recover from April

US Presidential Election and USD/JPY Movement

Can Asian REITs maintain high dividend yield?

Two "Codes" will change Japanese companies and stock market

Sakura Report shows improving economy

USD/JPY continues range-trade

Japanese Stock Market Outlook - Extra issue

Nikkei 225 Hit 15 year high at 20,000 yen

BOJ's Monetary Policy & Market Reaction

What is required for a sustainable equity rally?

Economy Watchers Survey shows consumption recovery

"Tankan" Survey and the Japanese Stock Market

Tankan Survery March 2015

Solid Recovery of Industrial Production Continues

Flow of Funds Accounts in Japan

Asset Allocation of Public Pension Funds

Nationwide Department Store Sales hit the bottom

Monetary Easing and Weak Yen Push Up Land Price

2015 Spring Wage Negotiation ("Shunto")

Annual Survey of Corporate Behavior

Improving "Street Business Sentiment"

Nikkei 225 recovered the level of year 2000

MOF Corporate Statistics

Inbound Tourism Consumption is expanding

Recovery in Consumption expected

Japanese Monetary Policy (Feb 2015)

Inbound Tourism Consumption

Factors that influence USD/JPY rate (3/3)

Factors that influence USD/JPY rate (2/3)

Factors that influence USD/JPY rate (1/3)

Change in "BOJ Policy Board Member"

Street Business Sentiment showed a solid recovery sign

Japanese Corporate Earnings

Real Wages show improvement

China & Asia Investment Monthly Feb2015

Launch of "Fuel Cell Vehicle"

What is the BOJ's focus for their monetary policy decision?

Number of Bankruptcies declines for 6 years

Is the Japanese Equity Market Overvalued?

Expanding "Inbound Tourism Consumption"

NISA to broaden Investor's base

Number of Foreign Tourists Hit Record High

Japanese Corporate Tax Reform

FY2015 Japanese National Budget

Bright Sign in "Street Business Sentiment"

Economy to Recover after Tax Hike Impact Fades away

Year 2014

2015 Asia (ASEAN 4 & India) Economic Outlook

FY2015 Japanese Economic Outlook

Weak JPY's Impact on Corporate Earnings in FY2015

The First Year for "NISA"

Lower House election result and market trend

What is the outlook for Asian REIT markets in 2015?

Equity Market Trend under Abe’s administration

Downgrade of Japanese Government Bonds

Japanese Economic Indicators (November 2014)

Why is Japanese Mid & small-cap stock investment attractive?

The Impact of JPY Depreciation on Manufacturers' Earnings

Decision on Delaying Further Consumption Tax Hike

Street Business Sentiment (October 2014)

Office Vacancy Rate in Japan (October 2014)

What sort of companies are there in Mid & Small-cap stocks?

Nationwide Department Store Sales (09. 2014)

GPIF’s Change of Base Portfolio

Japanese Equity Market ? Highest in 7 years

Additional Quantitative & Qualitative Easing by the BOJ

Japan’s Stewardship Code

Office Vacancy Rate in Japan

What are the features of Mid & Small-cap stocks investment?

Japanese "National Strategic Special Zones"

Close to Ending Deflation Judging from the Phillips Curve

Strong corporate earnings to support the equity price

August Machinery Orders ? Moderate Recovery

The Japanese economy will turn to improve despite recent slowdown

Is further JPY depreciation unfavorable for Japanese economy?

Is Japanese Equity market really "Undervalued"?

Private Sector Wages - Increased for the 1st time in 3 years

Will Japanese Equity Market Catch Up?

Asian REIT Market Outlook

Will Strong Corporate Earnings Growth be Sustainable?

Favorable employment conditions to support economy

Asset Allocation Review by Public Pension Funds

Nikkei 225 Broke Historical High since Abe Cabinet was formed

Basic Salary is Bottoming Out - Full-scale Recovery Yet to Come

July Nationwide CPI

July Industrial Production Indices

July Employment Data

SME Business Conditions Survey

Will JPY be back to strong vs. US$ again?

Will Corporate Earnings Continue to Grow Further?

White Paper on Leisure

FY2014 Corporate Earnings- Aftermath of the Consumption Tax Hike

June Machinery Orders & Jul.-Sep. Forecast- Moderate Recovery Expected

Apr-Jun 2014 First Preliminary GDP Estimates Keep an Eye on Future Policy

"June Employment Data -Reflected Shortage of Labour, Recovery of Consumer Expenditure Anticipated"

Analysis on Latest Japanese Economic Indicators (July 2014)

Checking Valuation of Global Stock Markets

Number of Domestic Travelers ?Likely to Break the Historical High This Summer

BOJ Monetary Policy Meeting -Economic Assessments & Monetary Policy Unchanged

May Machinery Orders -　Sharp Decline but only Caused by Special Factors

June Economy Watchers Survey -Impact of Consumption Tax Hike Fading Away

Personal Consumption -Hope of Recovery from Summer

Basic Salary Increased,"Will Consumer Spending also Increase ?"

Implication of "Corporate Governance" to Japanese Economy

Applause to Abenomics? ?Japanese Equity Held by Foreign Investors Substantially Increased

May Nationwide Consumer Price Index- Upward Trend Intact, Almost Flat

Analysis on Latest Japanese Economic Indicators (June 2014)

Growth Strategy" - Pillars of Basic Frames Revealed

April Machinery Orders -Maintained Stability Despite Pullback of Tax Hike

Travel Balance" Turned Positive! ? Contribution to Economy Expected

REIT Markets Rose Globally in May

Jan-Mar 2014 Second Preliminary GDP Estimates- Further Upswing in Capex

May Economy Watchers Survey?Important to Secure Consumption Power May

April Employment Data -No Impact of the Tax Hike, New Job Offer Increased

Household Savings" ? Historical High after 8 Years

Rise in "Employment Rate of University Graduate"Corporations Actively Recruiting

Prices at Superstore Largely Rising Thanks to Solid Consumer Appetite

April Trade StatisticsDrop in Fuel Import Cut Trade Deficit Substantially

March Machinery Orders & Apr.-Jun. Forecast- Stable Growth of Capex Expected

Jan-Mar 2014 First Preliminary GDP EstimatesUpswing in Capex

Summer Bonus" - Big Jump after 3 Years

April Economy Watchers Survey? Possible Recovery this Summer

March Employment Statistics Labor Supply-Demand Still Quite High

FY2013 Corporate Earnings Estimate and FY2014 Outlook of the Japanese Corporations

Outlook for Economic Activity and Prices Report: The BOJ, More Confident on Getting Out of Deflation

Post-tax-hike Demand Better than Feared

April "Tokyo core CPI Consumption Tax Hike Passed through as Anticipated

"GPIF" Reform Set to Move – Seeking for Higher Return

"Equity Investment by Foreign Investors" A Key to the Japanese Stock Market

Japan`s Monetary Policy (April) ~ Unprecedented Monetary Easing Left Unchanged～

Street Business Sentiment Ahead of Consumption Tax Hike, Current Conditions DI Marked Record Hig

* Prepared by the former Sumitomo Mitsui Asset Management Company Limited until March 31, 2019

Sumitomo Mitsui DS Asset
Management Company, Limited

Copyright © Sumitomo Mitsui DS Asset Management Company, Limited

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