“Japan in 2023: A Year of Major Transformation and Opportunities”, Ryoji Musha, Musha Research - a podcast by irfpodcast

David Osman of the IRF is joined by Ryoji Musha, the Founder of Musha Research. Musha Research was founded in 2009 following Ryoji Musha's long and distinguished career working for leading global investment banks in Japan and the USA since 1973. During that period, he achieved the top-rating for Japan Equity Strategy in the Institutional Investor polls.

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This podcast explores why the Japanese economy is beginning to emerge from the torpor of the post-1990 crash that has dogged the country for over three decades. In 2022 a weaker yen has transformed Japan’s international competitive position with profound implications for Japan’s economy, economic policy and corporate strategy. Also highlighted is the importance of longer term global geopolitical factors, particularly the evolution of Japan’s trading relationship with the USA and the emergence of the Chinese economy as a major player on the world stage.

 

Ryoji Musha assesses the outlook for Japan’s monetary policy and discusses the future direction of yield curve control and Japan’s ultra-low interest rates. He points out the beneficial effects of a moderately weaker yen for Japan’s domestic demand, production of exports and the relocation of factories from abroad. A cheaper yen is also encouraging more tourists to visit Japan. In addition, he believes that Japanese equities are now extremely undervalued, thereby potentially encouraging more corporate share buybacks.

 

Musha Research was founded in 2009 to provide more direct assistance with financial market analysis and determination of medium and long-term outlooks. The activities of Musha Research are guided by three principles: adhering to consistent logic; reaching conclusions based on their own beliefs; and using a viewpoint that incorporates both history and a global perspective.

 

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