Prime minister Shinzo Abe has engineered a way the nation's companies can dump ¥34.1 trillion ($273 billion) of stock, and share prices will keep rising.
At least that's the view of Credit Suisse Group AG's Basil Dan, who says Abe's plans to make companies sell stock held in business partners will spur a spate of buybacks. Firms will repurchase their own shares rather than let them fall into hostile hands, says Dan, who's traded Japanese equities for more than 15 years.
"Japanese management is very concerned about where that stock is going," Dan, head of equity sales at the brokerage in Tokyo, said in a July 22 interview.
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