Japan Ahead: Oasis Management CIO Seth Fischer

The transcript discusses the current state of Japan's market, highlighting significant changes in corporate governance, shareholder engagement, and foreign investment trends. It explores the impact of domestic shareholders, the Tokyo Stock Exchange's new policies, and the Bank of Japan's monetary policy. The discussion also covers sector-specific opportunities and Japan's position as an alternative investment to China, emphasizing the market's stability and potential for growth.

What has been a significant change in the Japanese market this year?

• Reduction in buybacks and dividends

• Decrease in domestic shareholder voting

• Decline in Japanese company profitability

• Increase in foreign investment

Which policy of Shinzo Abe is associated with corporate governance reforms?

• Two Arrows Policy

• Four Arrows Policy

• Five Arrows Policy

• Three Arrows Policy

What is the Tokyo Stock Exchange encouraging companies to do?

• Avoid foreign investments

• Trade above one times price to book

• Engage less with active investors

• Trade below one times price to book

What is a key factor making Japan an attractive market for private equity?

• Cheap borrowing costs

• Low leverage opportunities

• High borrowing costs

• Strict monetary policies

Which sectors are highlighted as having investment opportunities in Japan?

• Automotive and retail

• Technology and healthcare

• Semiconductors and education

• Real estate and tourism

How does the stability of the yen affect Japanese companies?

• It leads to increased inflation

• It provides clarity for planning

• It hinders corporate profitability

• It creates uncertainty in planning

Why are some investors considering Japan as an alternative to China?

• China has better economic data

• Japan offers a safer investment framework

• Japan's market has underperformed

• Japan has higher inflation rates