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THE BOTTOM LINE

To unlock shareholder value, Singapore conglomerates can learn from Japan’s trading houses

The transformation of Japanese companies has helped drive Nikkei 225’s surge

Summarise
    • Marubeni, one of Japan’s largest conglomerates, created an investment platform designed to drive the company’s consumer business.
    • Marubeni, one of Japan’s largest conglomerates, created an investment platform designed to drive the company’s consumer business. PHOTO: REUTERS

    Kohki Sakata

    Published Wed, Sep 16, 2026 · 07:00 AM

    SINCE 2020, Japan’s stock market has experienced a remarkable revival. The Nikkei 225 index surpassed the 70,000 threshold in June 2026, marking a further acceleration in its gains over recent years.

    The rally has had several drivers. Front and centre has been the global artificial intelligence boom, which has lifted technology-related names such as Tokyo Electron and SoftBank. Supporting this trend is the weak yen, which has attracted global capital flows to Japan.

    A highly visible turning point also came in August 2020, when Warren Buffett’s Berkshire Hathaway disclosed stakes in five major Japanese trading houses, known as the sogo shosha.

    Nikkei indexSGXConglomeratesTokyo Stock ExchangeSingapore stock marketThe Bottom Line

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