Introduction

The Tokyo Price Index, otherwise known as Topix, has recently hit its highest point since August 1990. One of the main factors has been the corporate governance reforms that have been pushed by the Tokyo Stock Exchange since January this year. After a period of seven years when foreigners have been net sellers of Japan to the tune of about 27 trillion yen, they're finally starting to come back and readdress the underweight position that they've had on Japan.