Japan’s new vehicle market continued to expand in January 2023, by 16% to 382,338 units from weak year earlier sales of 329,699 units, according to the Japan Automobile Manufacturers Association.
This was the fifth consecutive month of growth and reflected the gradual easing of component shortages such as semiconductors over the second half of last year, which allowed vehicle manufacturers to fulfil order backlogs.
The OECD was the latest organisation to revise upwards its growth forecast for the Japanese economy, to 1.8% for this year and 0.9% in 2024, with government fiscal policy expected to underpin household consumption.
Fidelity Japan Trust PLC (LON:FJV) aims to be the key investment of choice for those seeking Japanese companies exposure. The Trust has a ‘growth at reasonable price’ (GARP) investment style and approach – which involves identifying companies whose growth prospects are being under-appreciated or are not fully recognised by other investors.