Restructuring needed to help low growth economy

As ever for Western investors in Japan, structural reform is always just around the corner. This time fund managers expect it after the July elections. William Garnett, who runs Hendersons' Japan Capital Growth fund, says the markets have been weakened by the realisation that the Japanese economy is more dependent on external factors than previously thought. He says: "On top of Japan's other problems, the country is realising that the global economic slowdown will filter into its own market and markets are awaiting the upper house elections to be held at the end of July." Garnett say...