Inside the Tokyo Whale's Unstoppable Rise

The Bank of Japan (BOJ) has become a significant player in the stock market by increasing its stakes in companies through ETF purchases. This move positions the BOJ as a major shareholder in many companies within the Nikkei 225. The BOJ's actions have influenced market dynamics, pushing investors towards riskier assets. Despite not having voting power, the BOJ's large holdings raise concerns about its influence on corporate governance. The strength of the yen facilitates acquisitions, as seen with SoftBank's purchase of ARM Holdings. The BOJ's activities in the bond market have also led to increased market volatility.

Discuss the implications of the Bank of Japan's negative interest rate policy on companies.

What impact has the Bank of Japan's policies had on the stock market?