Zortix matched this thesis to Industrials ETFs as one way for retail investors to get exposure. Not a recommendation.
Absolute valuation gap in Japan's best companies
The guest argued that while Japanese market multiples are no longer uniformly cheap, the absolute valuations of Japan's best industrial companies remain dramatically low compared to their global peers.
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The Callback
Japan small-cap value re-rating thesis
60 weeks between these two statements.
The bull case for Japanese small caps was based on meaningful reforms by the Tokyo Stock Exchange pushing companies to improve capital allocation, unwind cross-shareholdings, and return capital, creating a valuation re-rating catalyst.
The guest argued that while Japanese market multiples are no longer uniformly cheap, the absolute valuations of Japan's best industrial companies remain dramatically low compared to their global peers.