How will Japan improve labour productivity?

We believe Japan is slowly emerging from its long period of deflation.

There is no doubt that an inflation rate of 2% will be hard to reach in the short term, but we believe it is more important to keep the consumer price index (CPI) rising at a rate of above 1%, to shift Japanese consumers' deflationary mindset, which we think is now much more achievable. In its latest reading, inflation edged up to 1.5% in February 2018. In our opinion, corporate earnings growth is the main factor driving the Japanese stockmarket higher. Ruffer: The 'intensely interesting' opportunity in Japan During the country's tough deflationary years, Japanese companies were fo...