How Japan’s stakeholder capitalism is changing
The Economist
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"Return on equity for the msci Japan index reached over 10% in 2018 for the first time since before the global financial crisis. But other measures of profitability, such as return on assets, have not budged. Mostly, the disparity between top performers and stragglers has grown wider, says Nicholas Benes, who helped draft the governance code: “It’s a stock picker’s market”."
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