Perma-bull Shiozumi predicts Nikkei will hit 30,000 in next leg of Japan rally

Hideo Shiozumi, manager of the £300m Legg Mason IF Japan Equity fund, expects the Nikkei will rise 50% from its current level to as high as 30,000 over the next few years.

The manager has always taken an ultra bullish stance on the Japanese stock market, but told Investment Week last year he did not expect the Nikkei to repeat its stellar performance of 2013 (when it rose 27% in sterling terms) for a few years. Shiozumi: Japan's stellar returns will not be repeated until 2016 However, the manager is now predicting the country's benchmark index will rise as high as 30,000 over the period, up from its current level of 20,236 at the end of June. "The Japanese market does not seem especially overheated, with the price/earnings ratio for the TOPIX st...