Improving corporate governance has been a central focus of Japan's economic strategy for over a decade. Chris Smith, co-manager of the Polar Capital Japan Value Fund, explores these governance reforms, their impact on businesses, and the opportunities they create for investors.

With the Tokyo Stock Exchange now requiring capital improvement plans, excess company capital is being redeployed into shareholder returns, mergers and acquisitions, and growth investments. Further, share buybacks have also doubled year-on-year, leading Chris to believe that value investors in Japanese equities are best placed to benefit.

Some information contained herein has been obtained from third party sources and has not been independently verified by Polar Capital.