How Abenomics gave Parkway Life Reit a boost
It indirectly drove up nursing home demand, even as it caused the yen to slide, says CEO Yong Yean Chau.
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ABENOMICS has given a fillip to Parkway Life Reit - which has 42 nursing homes in Japan - in more ways than one, according to the CEO of the real estate investment trust manager, Yong Yean Chau.
For instance, one of the three "arrows" proposed by Japanese Prime Minister Shinzo Abe in his economic transformation programme is a set of radical structural reforms involving increasing the labour participation of women.
"As more housewives return to the workforce, this will naturally drive demand for long-term care in nursing homes - because there will be fewer people at home to take care of the elderly. Domestic helpers are not common in Japan," Mr Yong says.
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