Japan’s stock market hit record highs last month, so investors have high hopes it can be another bumper year for the country’s domestic index. Nevertheless, its first interest rate rise in 17 years complicates the outlook for investors, as I discussed in a recent article.
What often gets overlooked in discussions of “record highs” is that certain individual stocks are driving these index increases. In this case, companies like Toyota Motor (7203) have posted explosive growth, with shares up nearly 100% over one year. Because of the weaker currency, it’s been a boom time for exporters like Toyota, which makes up the largest part of the
