Demand outstripping supply in Japanese real estate market

It is Japan's regional rather than national banks which offer a good investment opportunity, says Ian McCallum, fund manager at Bedlam Asset Management. McCallum says all of the regional banks Bedlam had invested in, apart from 18th Bank, had announced full year results ahead of expectations and pointed out lending margins are widening as a consequence of recent rate hikes. He says: "Regional banks have the greatest exposure to the small-medium sized corporate sector. This accounts for 75% of their loan book and is the sector in Japan that is showing the fastest improvement." McCallum als...