International Spotlight

Japan: Generating Growth and Happiness.

The world's fourth-largest economy, over the past eight decades Japan has established a reputation as a global leader in high-tech manufacturing and innovation, based on timeless traditions of craftsmanship and quality. Its government committed to boosting growth, encouraging investment and business expansion, and taking the lead in the digital and green transformations.

Japan: Upgrading Capitalism by Equipping Today's Businesses with Tomorrow's Technologies

As the Nikkei index rockets to heights last seen at the peak of Japan's post-war miracle economy, investors worldwide have reached a consensus: Japan is a 'buy.' According to analysts from Goldman Sachs and J.P. Morgan, record gains have been driven by the high upside in Japan's equity market, a position all but confirmed by the Tokyo Stock Exchange (TSE) itself – when it outlined plans this March to force companies trading below their book value to increase their stock prices.

Japan: Dawn Breaks for the Rising Sun

Boasting a multi-decade-high equity market, a supply chain haven for countries diversifying away from China, and "immense technological innovation and digitalization," according to the IMF, Japan continues to remind global investors why, in 2023, they should bet on Asia's largest and most advanced economy. Enabled by the Bank of Japan's ultra-loose monetary policy, this year marks a historic turning point for Japan – a meaningful return to healthy inflation after three decades of stagflation.

Japan: Vibrant, Pioneering, Confident

In the post-pandemic landscape of global business, Japan has emerged as the new darling of investors. Last year, the net flow of foreign money into Japanese stocks reached a decade-high of JPY 7.69 trillion, led by countries like the UK, which increased its average monthly investment by ten times, according to data from the Tokyo Stock Exchange. Fearing missing out, deep-pocketed US investors are now gearing up to make this year another record breaker – Bain Capital recently announced it intends to double its investment in Japan. Meanwhile, tech giants like AWS, Microsoft, and Google, as well as major semiconductor players like TSMC, are upping their investments and generating a constant stream of cash flowing into core industries.

Japan: Asia's Leading Post-Pandemic Economy

If 2023 marked Japan's breakout, 2024 could herald the beginning of a decade-long ascent as Asia's premier investment destination. Clear indicators abound, notably the Nikkei index's historic surge beyond its late 1980s peak, surpassing 40,000 for the first time in history, alongside a significant rise in wages at major firms—the highest percentage increase seen in 33 years.

Japan: The Technologies of Tomorrow, Here Today

According to Morgan Stanley, nominal growth – which gives a clearer picture of Japan's economy than real growth – reached 5% in 2023, its highest level since 1991. For comparison, Japan's nominal growth averaged just 0.2% between 1995 and 2020. Likewise, inflation has kept above the Bank of Japan's 2% target for the past 18 months, incentivizing businesses and households to switch from saving to investing. Recognising the opportunity, global investors are piling in.

Japan: Growth and Innovation

What sets Japan's current equity market apart from its previous highs is its significantly increased affordability. As per Goldman Sachs Research, 46% of equities on the Tokyo Stock Exchange's (TSE) Prime Market are presently trading below their book value, a stark contrast to just 5% of their S&P 500 counterparts. Coupled with the TSE's incentives for companies to enhance valuations and earnings, in tandem with Japan's exceptionally low borrowing costs and interest rates, this renders it an attractive playing field for investors.

MCS Steel: Thailand's Quality Steel Leader

MCS Steel epitomises the strengths of Thailand's export-oriented industry. Initially focused on small and medium products, the company has grown to become a leading manufacturer of fabricated steel, particularly beams and columns, for structures including power plants, bridges, and high-rise buildings. The company established itself as a leader in the Japanese market, where it has long-standing relationships with most of Japan's major construction companies, including Kajima, Shimizu, Takenaka, and Obayashi.

Telecom Egypt: Serving Egypt, Serving the World

Telecom Egypt has established itself not only as the premier telecommunications company in the country, but a global player through its management and operation of numerous international cables that connect to and through Egypt. Founded in 1854, the company has one of the region's best-known and most-respected brands, and is dedicated to the service of its customers, country, and international partners.

AppleOne Group: Preparing for Growth

One of the leading property developers in the Philippines, Cebu-based AppleOne Group has an impressive portfolio including high-end branded residences and luxury hotels. In recent years the company has diversified into healthcare.

Labaid: For Bangladesh, by Bangladesh

Founded in 1989, Labaid is one of Bangladesh's largest and most recognised private healthcare businesses, having established the first super-speciality cardiac hospital in the country. It handles around 3M patients a year, employing 8000 people including 1000 top consultant doctors. In recent years, the company has developed tech offerings that are further revolutionising healthcare in the country.