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Article: It's Time for A Turnaround; Japan's corporate balance sheets are in better shape than at any time since the 1970s.
- Article from:
- Newsweek International
- Article date:
- December 5, 2005
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Byline: Henry Blodget (Blodget, a former securities analyst, writes frequently for Slate and other publications. He owns Japan-focused index funds.)
On Nov. 1, a software glitch at the Tokyo Stock Exchange shut down trading for the better part of a day, the worst system failure in the exchange's history and one that could have rattled even the most confident Japan investors. For the past 15 years, after all, Japan's stock market has caused little but misery, and now the exchange itself had collapsed. In a sign of how Japan optimism has soared of late, however, investors merely used the hiatus as a chance to place more buy orders: when trading finally resumed, the ...