PSA Japan Market Strategy: Japan's GARP 30
There has been a sea-change in the Japanese stock market performance of late, in that it is starting to outperform in a global bull market, rather than relying on a bear market for its defensive qualities to come to the fore. GARP seems to be the investment style currently working in the Japanese stock market. Pelham Smithers finds 30 GARP screening stocks of possible interest to global investors.Table of Contents
Background: The “Other Problem” Japan’s Stock Market Poses Investors 3
Introducing the Japan GARP 30 5
Defining a GARP Stock 5
GARP as a Screening Rather than a Measure 6
Adapting Methodology for Japanese Shares 8
About the Japan GARP 30 10
Performance Varies Depending on How You Weight the Shares 10
The Make-up of the Japan GARP 30 11
Overlap of the Japan GARP Universe and Blue-Chip Exporters 12
Japan GARP Stocks Have Helped, Not Hurt, Investors of Late 12
Narrowing the List: The Japan GARP 10 13
GARP 10’s Relatively Poor Historic Performance 13
Finding Selected Opportunities Within the GARP 30 15
Kyowa Kirin (4151 JT) 15
Otsuka Holdings (4578 JT) 16
Shionogi (4507 JT) 16
NEC (6701 JT) 17
Panasonic (6752 JT) 17
TDK (6762 JT) 18
Murata (6981 JT) 18
Sony (6758 JT) 19
Olympus (7733 JT) 19
Canon (7751 JT) 20
Omron (6645 JT) 21
Bandai Namco (7832 JT) 21
Renesas Electronics (6723 JT) 21
Disco (6146 JT), Advantest (6857 JT) & Tokyo Electron (8035 JT) 22
Subaru (7270 JT) & Mazda (7261 JT) 23
Toyota Motor (7203 JT), Suzuki (7269 JT) & Honda (7267 JT) 24
Denso (6902 JT) & Bridgestone (5108 JT) 24
Hitachi (6501 JT) and Fujitsu (6702 JT) 25
Mitsubishi Electric (6503 JT) 25
MHI (7011 JT) 25
Kubota (6326 JT) 26
Fujifilm (4901 JT) 26
Conclusion 26
Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods.
PSA produces both company and sector reports. The focus of PSA’s research is to identify winners and losers as new technologies impact the top and bottom lines of corporations. Critical to our research is the clear explanation of how these new technologies work and how they impact companies and industries.
The founding partners have worked closely together for twenty years and the team has more than doubled in size since 2012.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.