Morgan Stanley: political change will reignite Japanese growth

Alkire believes that the September election of prime minister Taro Aso will prove to be a catalyst for a re-rating of the Japanese stockmarket and economic recovery. Aso's policies include strengthening of the pension system and reformation of the labour market. A recently unveiled stimulus package will also expand preferential taxation on securities investments, with tax exemption for capital gains and dividends from stock investments up to ¥3m. "He [Taro Aso] is articulate, and can speak to foreigners and he understands balance sheets because he's run his own companies," said Alkire. ...