Postcards

Greetings from Comgest’s Japan Equity Investment Team! 

Japan, the world’s third-largest economy, posted its third straight quarterly expansion in Q2 2023 – a 4.8% annualised growth rate. Although lower than initial 6% estimates, this still ranks it the top performer among major global economies. Over the same period, the country’s Topix index rose to a 33-year high as investors sought bargains and undervalued stocks. With this in mind, Comgest’s Japan investment team hit the road to engage with some of our long-held brands to find out how they’re faring amid a weakened yen that’s been boosting exports and post-Covid demand driven by domestic consumers.

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