The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Nikon Corp's logo is pictured at an electronics store in Tokyo August 9, 2012. Nikon shares fell as much as 12 percent on Thursday, a day after the camera maker lowered its full-year operating profit forecast below market expectations to reflect a change in its foreign exchange rate assumption for the euro.
Nikon Corp's logo is pictured at an electronics store in Tokyo August 9, 2012. Nikon shares fell as much as 12 percent on Thursday, a day after the camera maker lowered its full-year operating profit forecast below market expectations to reflect a change in its foreign exchange rate assumption for the euro.
(Yuriko Nakao/Reuters)

FINANCIAL TIMES

The last two bargain stocks left in Japan

Lex is a premium daily commentary service from the Financial Times. It helps readers make better investment decisions by highlighting key emerging risks and opportunities.

Being one of only two stocks to have made losses in a bull market is like watching everyone go out to play while you’ve been grounded. Fanuc and Nikon are the wallflowers of the blue-chip Topix 100. But with the gain in the Japanese index now one-third already this year, and the index’s forward price/earnings ratio climbing 12 per cent just this month, then stocks that have not rocketed should interest bargain hunters.