PSA Market Strategy: 2026 Japan Perspective and PSA Focus List for 2026 Q1
Welcome to our 2026 Japan Perspective, our 17th annual preview of the year ahead for Japan and the Japanese stock market. Much as 2024 proved to be a repeat of 2004, 2025 – at least up until the last few weeks – has proved to be a repeat of 2005.So, will 2026 extend the run and be a repeat of 2006, a more measured year than its predecessors, one that rewarded stock picking and timing over "buy and hold"? What is the outlook for the Japanese economy? Having selected Sanae Takaichi as the country's first female prime minister, is she what Japan wants or needs at this point?
Meanwhile, at a stock selection level, has the AI theme run its course? Likewise, is "cute" still cute, from a stock market viewpoint? And has Sony missed a trick with its national treasure, Kokuho?
Please find our thoughts on these issues and more, in this appraisal of Japan in 2026, and our revised PSA Focus List for 2026 Q1.
Tags: Nvidia (NVDA US), Alphabet (GOOGL US), OpenAI (pvt), Japan Post Holdings (6178 JT), CyberAgent (4751 JT), Livedoor (unlisted), CyberAgent (4751 JT), SoftBank Group (9984 JT), SoftBank Corp (9434 JT), Sharp (6753 JT), Oracle (ORCL US), Tepco (9501 JT), MHI (7011 JT), IHI (7013 JT), Japan Steel Works (5631 JT), Mitsui Kinzoku (5706 JT), Micron (MU US), Samsung Electronics (005930 KS), SK Hynix (000660 KS), Netflix (NFLX US), Konami (9766 JT), Toei Animation (4816 JT), Sega Sammy (6460 JT), Kadokawa (9468 JT), Capcom (9697 JT), Mihoyo (pvt), Anycolor (5032 JT), Cover Corp (5253 JT), Megaa (pvt), Koei Tecmo (3635 JT), Take Two Interactive (TTWO US), Square Enix (9684 JT), Nexon (3659 JT), Shochiku (9601 JT), Fujikura (5803 JT), Kioxia (285A JT), Advantest (6857 JT), NEC Corp (6701 JT), Super Micro Computer (SMCI US), Microsoft (MSFT US), Snowflake (SNOW US), Hitachi (6501 JT), Fujitsu (6702 JT), Apple (AAPL US), Sony (6758 JT), Nintendo (7974 JT), Coca Cola (KO US), Procter & Gamble (PG US), McDonalds (MCD US), Walmart (WMT US), C3.ai (AI US), Kokusai Electric (6525 JT), Tokyo Seimitsu (7729 JT), Hoya (7741 JT), Shin-Etsu Chemical (4063 JT), Kinden (1942 JT), Kandenko (1944 JT), Dowa Holdings (5714 JT), Fuji Electric (6504 JT), ExaWizards (4259 JT), Fanuc (6954 JT), Nabtesco (6268 JT), Mitsubishi Electric (6503 JT), Sanrio (8136 JT), Shift (3697 JT), BayCurrent (6532 JT)
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.
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