UBS maintains an Attractive stance on Japanese equities, anticipating a broad market rally driven by AI-related growth and the recovery of lagging cyclical sectors.
Key Takeaways
- 1.Maintained an Attractive view on Japanese equities, noting a 15% year-to-date rebound in the TOPIX.
- 2.FY26 earnings growth forecast revised upward to 10% from 7% due to strong FY25 results.
- 3.Expectations for two Bank of Japan (BoJ) rate hikes within the next 12 months.
Table of Contents
- Japanese equities
- Central scenario
- Upside scenario
- Downside scenario
- Global asset class preferences definitions
- Appendix
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Authors
Chisa KobayashiHartmut Issel
Securities
TPX
Themes
AI Supply ChainCyclical RotationCorporate Governance Reforms
Regions
Asia PacificJapanUnited States