The change in government following the 30 August election may herald a new era for Japanese business, but ministerial announcements have the industry watching with caution
On 30 August when the Japanese electorate chose to oust the Liberal Democratic Party and voted in the Democratic Party of Japan it was, decisively, a call for change. As change is what hedge fund managers thrive on, this turning point could herald a new era of investment opportunities, and potentially reverse foreign investors' disdain for Japan. On the other hand, it could be a road to nowhere - as one veteran Japan market watcher put it: "Don't forget, Japan never fails to disappoint."
In September the markets were spooked by a number of announcements by the new leadership, notably the appointment of Shizuka Kamei, founder and leader of the DPJ's coalition partner, the People's New Party, as banking and postal services...