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FJV Fidelity Japan Trust Plc

-0.50 (-0.29%)
Last Updated: 10:27:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Fidelity Japan Trust Plc LSE:FJV London Ordinary Share GB0003328555 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.50 -0.29% 174.50 65,504 10:27:00
Bid Price Offer Price High Price Low Price Open Price
175.00 176.50 175.00 174.50 175.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty -61.37M -76M -0.5913 -2.95 224.26M
Last Trade Time Trade Type Trade Size Trade Price Currency
14:12:32 O 2,032 175.315 GBX

Fidelity Japan (FJV) Latest News (1)

Fidelity Japan (FJV) Discussions and Chat

Fidelity Japan Forums and Chat

Date Time Title Posts
16/7/202308:05::: FIDELITY JAPAN TRUST :::22
13/1/202213:38Fidelity Jap Value17
26/1/201318:32Get in early on the Japan recovery story!519
08/2/200910:59Fidelity Japanese looking WAY oversold.92

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Fidelity Japan (FJV) Most Recent Trades

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Fidelity Japan (FJV) Top Chat Posts

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Posted at 01/12/2023 08:20 by Fidelity Japan Daily Update
Fidelity Japan Trust Plc is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker FJV. The last closing price for Fidelity Japan was 175p.
Fidelity Japan currently has 128,516,559 shares in issue. The market capitalisation of Fidelity Japan is £224,261,395.
Fidelity Japan has a price to earnings ratio (PE ratio) of -2.95.
This morning FJV shares opened at 175p
Posted at 16/7/2023 08:05 by jonwig
Kepler -

Warren Buffett’s decision to invest heavily in several Japanese companies over the past 12 months has brought up the usual annoying headlines about how great he is, as well as some discussion as to whether stocks listed in the world’s third-largest economy are worth reevaluating.

Is that actually happening? A recent analysis by Copley Fund Research provides some answers by looking at the weightings to Japan in a set of Global Equity Funds.

The first thing to note is that the average fund has been underweight to Japan, compared to the MSCI ACWI, for the entirety of the past decade. However, the spread between the average fund weighting and the index weighting has been tightening over the past five years and is now at close to its tightest level since 2014.

Another point that stands out in the report is the proportion of funds that have exposure to Japan. Looking at the past decade again, the proportion of global equity funds investing in Japan hit its lowest level approximately 12 months ago. Since then it has bounced back sharply, from a low of 84.9% to 87.1%.

However, exposure to Japan is markedly different depending on style. Value funds have an average overweight position. In contrast, income funds and growth investors are both underweight on average.

Top down analyses like this can mean you end up capturing data that isn’t entirely accurate, mainly because classifying funds can be an exercise in trying to square a circle. For example, the British & American Investment Trust (BAF), as readers can likely infer, invests in US and UK companies and is benchmarked against the FTSE All-Share. However, it is part of the AIC’s Global Equity Income Sector.

Nonetheless, Copley’s research, which looks at funds globally, does seem to fit broadly with trends we see in the UK’s investment trust sector.

For instance, every trust in the AIC’s Global Equity Income sector is currently underweight Japan, reflecting the relatively low dividend payouts Japanese companies offer.

In contrast, several trusts in the AIC’s Global sector are overweight to Japan. For instance, Bankers (BNKR) upped its weighting from 7.4% at the end of October last year, to 13.4% at the end of May. That coincides with a period where the managers have tilted the portfolio more towards value, after a decade-long period focused on growth.

AVI Global (AGT) is probably the most notable trust in the sector when it comes to Japan, with the trust having a 19% weighting to the country. However, the trust managers are Japan specialists and take a differentiated, value-driven approach to markets. For example, a key part of the strategy is to invest in what the managers believe are undervalued investment trusts trading at a discount, and to capture the enhanced returns that a tightening of the discount produces.

In some ways, the tilt towards Japan in value funds also mirrors some of the success we’ve seen in country specialist trusts. For instance, AVI Japan Opportunity (AJOT), which is managed by the same company as AGT, also takes a value-driven approach to Japanese Smaller Companies and has enjoyed a strong 12 months compared to its benchmark.

Similarly, CC Japan Income & Growth (CCJI) has had a very strong 12 months. The trust managers look to invest in companies that can pay increasing, sustainable dividends, and have been able to benefit from some of the corporate reforms we’ve seen in Japan over the past decade.

For investors considering Japan, CCJI arguably offers a more attractive approach today. As we noted earlier this year, valuations in Japan do look attractive and corporate reforms, as well as modest inflation levels, continue to act as a tailwind for investors. However, stylistic calls remain hard to make and the balance that CCJI offers – valuation-conscious but not pure value plays – may be the better choice to make today.
Posted at 09/5/2023 18:05 by jonwig
Citywire -

Another overlooked market we have invested in recently is Japan, where a surge in shareholder activism is reinvigorating the region’s dated corporate culture. In particular, the country’s cash-rich but low-yielding businesses are proving fertile ground for change. Since 2019, there has been a steady increase in activist events, share buybacks and takeovers in an effort to improve profits for investors.

Despite the resultant increase in shareholder returns across the board, Japanese companies – particularly at the smaller end of the spectrum – continue to trade on much lower multiples than international peers
Posted at 12/1/2023 18:42 by jonwig
From an FT newsletter ("Unhedged") this morning:

Pelham Smithers of Pelham Smithers Associates, our go-to Japan watcher, thinks this is all heralding a grand shift in inflation psychology. As he pointed out to us yesterday, the headline inflation rate probably understates how profoundly wage-price dynamics are changing:

Two things have happened over the last year. The first is that inflation in Japan has been quite a big media story. It would be very difficult to watch the day-to-day news without getting caught up in the inflation story.

The second thing is that high-street [retail] inflation has been essentially running at double the national rate. [In contrast to, for example, rent inflation near zero] if you’re someone shopping on the high street, you’ve seen something around 6 to 7 per cent inflation. So you’ve been feeling like prices have been rising . ;. . you don’t think, “Oh, my rent hasn’t gone up” as an important factor. You’re just looking at the price of flour and eggs and thinking, “Oh, God” …

Because major parts of Japanese household spending haven’t gone up, the headline rate isn’t as high. But the psychology the Japanese have had about inflation is probably worse than the peak in the US or the UK, because they haven’t experienced it for 30 or 40 years.

An inflation regime change would likely remake the country’s sluggish stock market: nominal profits, at long last, could expand. That would make the appeal of investing in Japan much clearer for global investors.
Posted at 29/8/2014 17:02 by snowydays
The bonus issue is only for subscription shares. They are a bit like warrants or options.

They give you the right to buy ordinary shares at 86p until April 2016. Since this is above the current price there is no dilution and the subscription shares have little value. Small investors might even find that selling their bonus shares will not cover dealing costs.
Posted at 28/8/2014 20:26 by slogsweep
HELLO anyone out there. I have held these for some time but am unsure what effect the bonus issue will have. Will I get 20% more shares but the price will fall by 20%, or is the dilution already in the price? Who would subscribe 80 odd p for the subscription shares when they can buy in the market for 73p? is the issue under written?
Posted at 25/1/2013 11:40 by chrisgail
For those whom have waited for this share and hence the warrants to respond to the Japanese market rise, well done.
Posted at 02/3/2012 12:40 by knowing
Differential between price and NAV widening. Should see the price move higher soon. Exchange rates also moving in the right direction.
Posted at 14/6/2011 15:09 by knowing
Should be another up day for FJV tomorrow looking at the futures
Posted at 29/12/2009 09:40 by mangal
Japanese markets have moved up strongly over the last month: up 17%+, easily beating all other world-indices. FJV has lot of catching up to do.
Posted at 19/9/2007 15:07 by knowing
Japan year to July average commercial land price rises for 1st time in 16 years

TOKYO (Thomson Financial) - The average price of commercial land in Japan
rose 1.0 percent in the year to July 1, its first rise in 16 years and the
strongest evidence yet that the world's second-largest economy is gradually
escaping from years of deflation, the Land Ministry said Wednesday.
According to the results of a survey conducted by the ministry, the average
price of residential land in Japan slipped 0.7 percent during the period,
falling for the 16th year, although the fall was smaller than the 2.3 percent
decline a year earlier.
The ministry's annual survey examines the prices of 24,374 properties based
on appraisals by real estate valuers, every July 1.
In the metropolitan areas of Tokyo, Osaka and Nagoya, average prices of both
residential and commercial land increased for the second straight year. The
average price of residential land rose 4.0 percent and the average price of
commercial land increased 10.4 percent, the largest increase since 1990, when it
rose 16.6 percent.
Amid Japan's economic recovery, the rising trend of land prices in each
metropolitan area continued to be supported by brisk demand for condominium
units and offices as well as by a recovery in corporate profits. The uptrend in
prices also spread to the surrounding areas.
In metropolitan Tokyo, the average price of residential land increased 4.8
percent, rising for the second consecutive year. The average price of
commercial land increased 12.1 percent, also rising for the second straight year
and posting its biggest increase since 1988, when it rose 15.8 percent.
In Tokyo's 23 central wards, the average price of residential land was up
13.1 percent from the previous year and the average price of commercial land
was up 20 percent.
In metropolitan Osaka, the average price of residential land rose 2.9
percent after being flat the year before. It was the first rise in 17 years. The
average price of commercial land climbed 8.0 percent, rising for the second
straight year.
In metropolitan Nagoya, the average price of residential land price grew 2.4
percent, the first rise in 16 years, while the average price of commercial land
rose 7.2 percent, up for the second straight year.
But economists doubt there would be a repeat of the asset price bubble of
the 1990s that later burst, leaving Japanese banks with saddled with huge debts.
The annual survey showed that the downtrend in land prices in most of the
rural areas remained.
The average price of residential land in rural areas fell 2.3 percent, down
for the 15th straight year, while the average price of commercial land dropped
2.6 percent, down for the 16th year. But in both cases, the declines were
smaller than previously.
"The mini-bubble in the major cities appears to be nearing its end due as
massive redevelopment projects appear to have peaked," Societe Generale Asset
Management senior economist Akio Yoshino said.
"Because of lessons from past experience, Japanese financial institutions
continue to show a conservative stance in extending loans related to asset
investments, while investors have become more reasonable in weighing risks and
returns, shifting funds quickly to other investment assets such as stocks, when
the returns on asset-related products such as real estate investment trusts
fall," said Daiwa Institute of Research senior economist Junichi Makino.
"So, it is fair to think that land prices will continue to be reasonably
priced going forward," he said.
A much-awaited rebound in land prices appears to support the Bank of Japan's
case for increasing interest rates from their present low levels, but economists
are cautious about reading too much into the latest figures.
"When signs begin to emerge that the rise in land prices may be moderating
even in the major cities, the Bank of Japan could misjudge its policy call if it
pegs monetary policy solely on land prices," Yoshino said.
BoJ governor Toshihiko Fukui has said he is not worried about the
possibility of another asset bubble.
He said that while rising land prices in major cities such as Tokyo, Osaka
and Nagoya look "somewhat rapid, they have not deviated notably" from fair value
levels based on a discounted cash flow method.
"It is difficult for us to base our monetary policy just on land prices or
the foreign exchange market, but we will bear in mind these developments and
make appropriate policy judgements," Fukui said.
Fidelity Japan share price data is direct from the London Stock Exchange

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