For "Abenomics" bulls who still hold out hope that Prime Minister Shinzo Abe intends to make good on his pledges to revitalize Japan, the past week must have been at least a little disconcerting.
In that span, Abe unveiled a "new" energy plan, which in fact put to rest any notion that he might use the Fukushima nuclear accident as a spur to invest in renewables. Unveiled on April 11, Abe's strategy instead promotes an unimaginative mix of nuclear and coal.
Then, on Monday, the Japan Exchange Group Inc. bizarrely scrapped a move to adopt tougher corporate disclosure rules. Why? The nation's stock-market operator said that Japanese companies were doing such a splendid job communicating with investors that no such reforms were needed.
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