Japan: a new dawn for growth investing

In this episode of "Short Briefings on Long Term Thinking," Malcolm Borthwick interviews Donald Farquharson, head of Baillie Gifford's Japanese equities team, about the Japanese stock market and its potential for sustainable recovery. Farquharson shares his experiences investing in Japan since 1990, noting changes in corporate engagement and governance. He expresses enthusiasm about the current investment climate, highlighting growth companies like Olympus, Nihon M&A, and DENSO, and discusses the unique aspects of the Japanese market, such as strong balance sheets and founder-led companies. Farquharson also touches on the cultural fascination and misconceptions surrounding the Japanese market, recommending the book "Aiming High" about Masayoshi Son.