Goldman Sachs Is 'Relatively Constructive' on Japan

The video discusses the impact of yen strength on Japanese equities, noting that a yen at 130 is not historically strong. It provides a market outlook for 2023, predicting a volatile but directionless market with sector rotation. Investment opportunities are highlighted in financials and tourism sectors, with a focus on corporate governance improvements in Japan.

What is considered a strong yen historically?

• 130

• 150

• 75

• 115

What is the year-end target level for the TOPIX index in 2023?

• 2400

• 1800

• 2200

• 2000

Which sector is expected to remain strong in Japan during the first half of 2023?

• Energy

• Healthcare

• Financials

• Technology

What is the expected market behavior during the first half of 2023?

• Strong upward trend

• Volatile but directionless

• Consistent decline

• Stable growth

What is a key theme expected to attract interest in Japan?

• Tourism reopening

• Energy conservation

• Technological innovation

• Agricultural development

Which area is highlighted as having significant changes in Japan?

• Corporate governance

• Monetary policy

• Environmental policies

• Export regulations

What significant corporate activity was recorded in Japan last year?

• Decline in investments

• Record buybacks

• Surge in exports

• Increase in mergers