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Article: Think Local in Playing Tokyo's Battered Market Sushi, Karaoke and Other Hard-Hit, Domestically Oriented Stocks May Now Be the Best Bargains
- Article from:
- International Herald Tribune
- Article date:
- March 7, 1998
- Author:
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Miki Tanikawa
International Herald Tribune
03-07-1998
WHEN investors turned bearish on the Japanese economy last fall, domestically oriented stocks were among the biggest casualties of the ensuing market slide. This was especially true of shares in companies providing typically Japanese goods and services, like sushi restaurants, karaoke machines and jukus, the famous cram schools.
These companies, many of which are small, family-run businesses that trade on the Japan Securities' Dealers Quotation System, have few overseas outlets and often little appeal beyond Japan's borders, so they sink or swim with the domestic economy.
Last year they sank, but some Tokyo analysts who specialize in ...