Does Japan needs to implement excess cash levy?

Japanese stocks are about as cheap on a price to 12-month forward EPS ratio as they have been in many years and are cheaper than many of their global peers.

China's economic deceleration and trade disputes due to its insistence on the Made in China 2025 plan, which uses heavy state subsidies to dominate global hi-tech industries, is the main worry for Japan, as China is a major source of manufacturing and tourism profit for Japan. Linked to this is the fact that, if Japan does not cooperate with the US and Europe on curtailing China's plan, then the US could well enact trade sanctions on Japanese auto exports. This geopolitical factor is disappointing because otherwise, all is very well with Japan's economy; its monetary policy is only gradu...