INVESTMENT
Return on equity 15% 12% 9% 6% 3% 0%
Japan (Topix 500)
Europe (Bloomberg Europe 500) 2011
U.S. (S&P 500)
Now
Source: Bloomberg, 9/30/2017.
Japan's GDP breaking out on the upside 600 550 500 450 400 350 300
1984
1987
1990
1993
1996
1999
2002
2005
2008
2011
2014
2017
Japan GDP Source: Bloomberg, Economic and Social Research Institute Japan.
Jobs-to-Application ratio at its highest in two decades
12/01/89 09/01/90 06/01/91 03/01/92 12/01/92 09/01/93 06/01/94 03/01/95 12/01/95 09/01/96 06/01/97 03/01/98 12/01/98 09/01/99 06/01/00 03/01/01 12/01/01 09/01/02 06/01/03 03/01/04 12/01/04 09/01/05 06/01/06 03/01/07 12/01/07 09/01/08 06/01/09 03/01/10 12/01/10 09/01/11 06/01/12 03/01/13 12/01/13 09/01/14 06/01/15 03/01/16 12/01/16 09/01/17
Source: Ministry of Health, Labour and Welfare, Japan.
Labour force YoY growth the longest run since 90s 3.0% 2.0% 1.0% 0.0% -1.0%
1017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
1996
1995
1994
1993
1992
-3.0%
1991
-2.0% 1990
total number of companies, employ 70 per cent of the workforce, and have seen the average age of their presidents climb each year. These businesses will continue to come up for sale, fuelling industry consolidation, and eventually increasing pricing power. It can be said that Japan’s elevated economic complexity over decades has been supported by high levels of patents and R&D. We believe that through its continued investments in future technologies, Japan should be able to maintain its leading technological edge across such industries as robotics, automation, games, specialty materials, and precision equipment.
1.8 1.6 1.4 1.2 1.0 0.8 0.6 0.4 0.2 0
Source: Ministry of Internal Affairs and Communications.
wealtharabia.net
21