Towards the end of the month, Japanese companies started reporting their quarterly earnings. Profits had been forecast to be somewhat weaker than this period last year, and this was indeed the case. Many companies are experiencing margin pressures and suffering from a general slowdown in economic activity. Our portfolio companies have not escaped the impact of the ongoing trade war between the US and China, which has been weighing on sentiment towards the Japanese stock market.
AVI Japan Opportunity Trust p.l.c is referred to as ‘AJOT’ throughout the website. AJOT’s investment managers, Asset Value Investors are referred to as ‘AVI’