Japanese exports are becoming competitive again, which is great for companies that have significant exposure to the U.S. like Apple supplier Murata, said Melissa Otto, Head of Japanese Equities Research at TIAA-CREF. Otto added that corporate governance, in addition to a declining Yen, is becoming a key driver of change in Japanese companies with more share buybacks and dividend increases. Furthermore, she said the relaxation of visa restrictions has caused tourists from China and other Asian countries to visit Japan in droves, helping stimulate the travel industry and high end retailers. Finally, Otto said there is chatter about further Bank of Japan intervention to push the Yen even lower, further stimulating the economy.
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