Unequal Equities

Unequal Equities
Author: Robert Zielinski
Publisher: McGraw-Hill Companies
Total Pages: 228
Release: 1992
Genre: Financial institutions
ISBN:

Despite its prominence in world finance, Japan's stock market has remained an enigma to many investors. This book aims to remove the mystery, revealing how Japanese corporations have moulded the market into a cheap source of capital; why most shares of corporations are held by other corporations; what the Keiretsu - secretive stockbroking, insurance and banking cartels - really do; and how the market's 1990 collapse affected these interlocking relationships.

Japanese Equities

Japanese Equities
Author: Michiro Naito
Publisher: John Wiley & Sons
Total Pages: 197
Release: 2019-10-28
Genre: Business & Economics
ISBN: 1119603668

An indispensable resource for anyone wishing to understand and successfully invest in the Nikkei. Recent years have seen steady growth in investor interest in the Japanese equity market, the second largest in the world. Japanese Equities describes how the Nikkei works, explains its driving factors and presents a collection of insightful case studies to help you successfully invest in the market. Author Michiro Naito, a former equity derivatives/quantitative strategist for J.P. Morgan Securities Japan, helps you understand the ups and downs of the market and capitalise on its money-making opportunities. Already a substantial part of many equity investor portfolios, the Nikkei exhibits characteristics that respond more sensitively to global economic conditions than other developed markets. This valuable book helps you grasp the idiosyncrasies of the market and correctly time investing decisions to maximise profits. This English translation of the original Japanese book includes additional chapters discussing recent political developments that influence the Japanese economy such as the re-election of Prime Minister Shinzo Abe, the trade policies of Donald Trump (the US-China trade war) and the difference in monetary policy between the Bank of Japan and the FED. This book: Offers a simple quantitative strategy to take advantage of the cyclical trends and repeating patterns of the Nikkei to attain desirable returns Explains how derivatives instruments affect the equity market, which is seldom covered in textbooks Highlights a quantitative approach supported by solid historical back-tests Discusses fundamental and technical factors that underlie the movement of the Japanese equity market Provides insights drawn from the author’s decades-long research and experience working in the securities industry Japanese Equities: A Practical Guide to Investing in the Nikkei is a must-have text for investors, hedge fund and pension fund managers, academics, researchers and students of international finance.

Japanese Equities

Japanese Equities
Author: Michiro Naito
Publisher: John Wiley & Sons
Total Pages: 155
Release: 2019-08-27
Genre: Business & Economics
ISBN: 1119603692

An indispensable resource for anyone wishing to understand and successfully invest in the Nikkei. Recent years have seen steady growth in investor interest in the Japanese equity market, the second largest in the world. Japanese Equities describes how the Nikkei works, explains its driving factors and presents a collection of insightful case studies to help you successfully invest in the market. Author Michiro Naito, a former equity derivatives/quantitative strategist for J.P. Morgan Securities Japan, helps you understand the ups and downs of the market and capitalise on its money-making opportunities. Already a substantial part of many equity investor portfolios, the Nikkei exhibits characteristics that respond more sensitively to global economic conditions than other developed markets. This valuable book helps you grasp the idiosyncrasies of the market and correctly time investing decisions to maximise profits. This English translation of the original Japanese book includes additional chapters discussing recent political developments that influence the Japanese economy such as the re-election of Prime Minister Shinzo Abe, the trade policies of Donald Trump (the US-China trade war) and the difference in monetary policy between the Bank of Japan and the FED. This book: Offers a simple quantitative strategy to take advantage of the cyclical trends and repeating patterns of the Nikkei to attain desirable returns Explains how derivatives instruments affect the equity market, which is seldom covered in textbooks Highlights a quantitative approach supported by solid historical back-tests Discusses fundamental and technical factors that underlie the movement of the Japanese equity market Provides insights drawn from the author’s decades-long research and experience working in the securities industry Japanese Equities: A Practical Guide to Investing in the Nikkei is a must-have text for investors, hedge fund and pension fund managers, academics, researchers and students of international finance.

Japanese Stocks

Japanese Stocks
Author: Tōru Matsumoto
Publisher: Kodansha
Total Pages: 222
Release: 1989
Genre: Business & Economics
ISBN:

Written for the international investor gives pertinent information on the Japanese stock market and offers a forecast for a bull market through 1992.

The Efficiency of the Japanese Equity Market

The Efficiency of the Japanese Equity Market
Author: Mr.Jun Nagayasu
Publisher: International Monetary Fund
Total Pages: 24
Release: 2003-07-01
Genre: Business & Economics
ISBN: 145185627X

Using the ARFIMA-FIGARCH model, this paper studies the efficiency of the Japanese equity market by examining the statistical properties of the return and volatility of the Nikkei 225. It shows that both follow a long range dependence, which stands against the efficient market hypothesis (EMH). The result is valid for all sample periods, suggesting that the recent equity market reform has not produced major efficiency gains.

Japanese Financial Markets

Japanese Financial Markets
Author: Junichi Ujiie
Publisher: Elsevier
Total Pages: 497
Release: 2002-10-31
Genre: Business & Economics
ISBN: 1855738759

The first edition of Japanese Financial Markets established itself as a standard work on one of the most important financial centres in the world. Since then there have been substantial changes, most notably a serious financial crisis and major subsequent reforms of the financial system. Written by leading analysts from the prestigious Nomura Group, this authoritative second edition explains these changes and their consequences for the current structure and operation of the country's financial markets. The book is arranged in four main sections: Part one provides an overview of the recent performance of Japan's financial markets, the crisis in the 1990s, government reforms and the subsequent 'Big Bang' in the country's financial system. Part two looks at the range of participants in the market, from individual investors, public sector and corporate pension funds to investment trusts, government bond issues and the equity market. This section of the book also discusses cross-border money flows, monetary policy and the regulatory framework. Part three discusses the markets themselves, covering the money and bond markets, trading in equities and securities and the venture capital market. Part four considers current problems and likely future developments in the financial system. This major new edition of Japanese Financial Markets is essential reading for fund managers, institutional investors, financial analysts and all those concerned with one of the world's most important financial markets. Comprehensively updated new edition of a standard work Covers all aspects of Japanese financial markets in detail Written by a distinguished banker with unrivalled insight into Japanese financial markets' workings

Japanese Equities Markets

Japanese Equities Markets
Author: Jonathan Isaacs
Publisher:
Total Pages: 328
Release: 1990
Genre: Capital market
ISBN:

A comprehensive description of the institutions, regulations, practices and techniques that can be found in Japan's equity markets. The book traces the history and development of the markets, lists key participants and key stock areas, and outlines accounting and disclosure procedures.

Investing in Japan

Investing in Japan
Author: Steven Towns
Publisher: CreateSpace
Total Pages: 210
Release: 2012-03-14
Genre: Business & Economics
ISBN: 9781475013504

Investing in Japan contains indispensable information about one of the world's largest and at the same time, most undervalued, stock markets. Long disregarded by investors, Japanese equities and their attractive valuations (supported by low/no debt, strong cash positions, marketable securities and real assets, sustained profitability, etc.) allow value investors to opportunistically deploy any number of strategies. Investing in Japan is the definitive information source about Japanese stocks and investment funds: timely in its publishing (March 2012) ahead of the historic "Abenomics" rally and timeless with its detailed must-know fundamental market information and idiosyncrasies. Fluent in Japanese, Steven Towns provides 140 footnotes from English and Japanese sources. Readers will gain an asymmetrical information advantage, learning the inner-workings of the market and key information sources unknown to most non-Japanese investors. Investing in Japan includes a brief overview of value investing to whet the appetite of those new to value and be readily digestible for practitioners --- provoking thought about ZIRP's (zero interest rate policy) impact on cost and returns of capital, and similarly how focusing on beta (volatility measure) would prevent alpha opportunities such as following the sharp March 11, 2011, earthquake/tsunami selloff. Investing in Japan challenges the conventional wisdom of Japan being on its last leg (a kind way of putting it compared to some pundits); provides a comprehensive overview of investing in Japan including various must-know idiosyncrasies; the shortcomings of Japan-focused mutual funds and ETFs, which could save current/potential investors significant time and money; the odd marketing of funds to Japanese investors; everything one needs to know about ADRs; review of select value hedge and mutual funds investing in Japan and value-focused Japanese funds; valuation metrics and comparison to other markets; hedge funds' investments in Japan; clarifying the matter of low returns on equity; and sharing some surprisingly (positive) information on the strength of shareholder rights and corporate governance in Japan.