abrdn Japan Investment Trust plc

Japan specialists identifying exceptional companies

Daily prices as of 25 May 2022

Share Price 572.50p

Estimated NAV cum income 659.98p

Estimated NAV ex income 658.17p

Dividend Yield 2.6%

Premium / (Discount) to NAV cum income -13.2%

Premium / (Discount) to NAV ex income -13.0%

Source: Morningstar

About us

Find out more about our investment objective, approach, portfolio and performance.

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Latest news

An update from our investment manager, Chern-Yeh Kwok - 29 April 2022 

The escalation of the Russo-Ukrainian conflict, and its impact on global commodity prices, has put a chill on sentiment across global markets. While the direct impact on most Japanese corporates – including the Fund’s holdings – is minimal, the indirect impact from the sharp rise in commodity prices puts further pressure on companies’ profitability. Broadly speaking, companies are passing on higher prices to their end customers, but these actions will come with a lag, especially with the recent run up in prices. Meanwhile, the peaking of the sixth wave of Covid-19 cases in Japan should bolster a return to some normalcy after a tough year. With this backdrop, and with the rotation in the markets earlier in the year, valuations for quality stocks have fallen sharply, yet commentary from companies suggests that business fundamentals remain sound. Alongside structural improvements in governance in Japan, we remain resolute in our belief that these companies will outperform over the medium to longer term.

Key people

Chern Yeh Kwok

Chern-Yeh Kwok

Head of Investment Management, Japan

Chern-Yeh Kwok is head of Japanese equities having transferred from the Singapore team in January 2011. Chern-Yeh joined the company in 2005 from MSCI Barra where he was an equity research analyst.

Chern-Yeh graduated with a BA in Journalism from the University of Missouri- Columbia and holds an MSc in Finance from the London Business School.

Hisashi Arakawa

Hisashi Arakawa

Deputy Head of Investment Management, Japan

Hisashi Arakawa joined the company in 2016 and is based in the Tokyo office. He has a MPhys in Physics from the University of Oxford and a MBA from INSEAD and is a CFA® charterholder. He was previously vice president in the corporate banking group of Development Bank of Japan.

Flavia Cheong

Flavia Cheong

Head of Equities - Asia Pacific

Flavia Cheong is the Head of Asia Pacific Equities on the Asian Equities team at abrdn, where, as well as sharing responsibility for company research, she oversees regional portfolio construction. Before joining abrdn in 1996, she was an economist with the Investment Company of the People’s Republic of China, and earlier with the Development Bank of Singapore. Flavia graduated with a BA in Economics and an MA (Hons) in Economics from the University of Auckland. She is a CFA charterholder.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

  • Chern Yeh Kwok

    Chern-Yeh Kwok

    Head of Investment Management, Japan

    Chern-Yeh Kwok is head of Japanese equities having transferred from the Singapore team in January 2011. Chern-Yeh joined the company in 2005 from MSCI Barra where he was an equity research analyst.

    Chern-Yeh graduated with a BA in Journalism from the University of Missouri- Columbia and holds an MSc in Finance from the London Business School.

  • Hisashi Arakawa

    Hisashi Arakawa

    Deputy Head of Investment Management, Japan

    Hisashi Arakawa joined the company in 2016 and is based in the Tokyo office. He has a MPhys in Physics from the University of Oxford and a MBA from INSEAD and is a CFA® charterholder. He was previously vice president in the corporate banking group of Development Bank of Japan.

  • Flavia Cheong

    Flavia Cheong

    Head of Equities - Asia Pacific

    Flavia Cheong is the Head of Asia Pacific Equities on the Asian Equities team at abrdn, where, as well as sharing responsibility for company research, she oversees regional portfolio construction. Before joining abrdn in 1996, she was an economist with the Investment Company of the People’s Republic of China, and earlier with the Development Bank of Singapore. Flavia graduated with a BA in Economics and an MA (Hons) in Economics from the University of Auckland. She is a CFA charterholder.

    CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

Karen Brade

Karen Brade

Chairman and Independent Non-Executive Director

Karen Brade was appointed a director on 1 May 2013 and assumed the Chair in July 2018. She has over 25 years’ investment experience in a range of sectors and markets. She began her career at Citibank, working on various multi-national project finance transactions. Between 1994 and 2004 she was an investment principal at CDC Group plc (the UK Government’s Development Finance Institution) where she directed equity and debt investing, portfolio management, fund raising and investor development including India, South Asia, Africa and China. Since 2005 she has been an adviser to hedge funds, family offices and private equity houses. Karen is currently the Audit Committee Chairman of Augmentum Fintech plc and Chairman of Keystone Positive Change Investment Trust plc.

claire boyle

Claire Boyle

Independent Non-Executive Director

Claire Boyle was appointed as an independent non-executive director of the Company with effect from 1 February 2019. She has over 17 years' experience working in finance and equity investment management, working on funds over a wide range of sectors for international corporate, Government, State and retail clients, including unit and investment trusts. She was a partner at Oxburgh Partners LLP with responsibility for their European Equity Hedge Fund, and prior to that a European Equity Fund Manager at American Express Asset Management, where her role included both equity investment and business development. Claire is a chartered accountant, qualifying in 1993 whilst working in litigation support at Coopers & Lybrand, before starting her investment career on the UK research desk at Robert Fleming. She is also currently Chairman of Life Science REIT plc, the Audit Committee Chairman of Fidelity Special Values plc and a director of The Monks Investment Trust PLC.

Sir David Warren

Sir David Warren

Independent Non-Executive Director

Sir David Warren was appointed on 1 December 2015. He had a career in the British Diplomatic Service of over 35 years, concentrating on East Asia following his initial Japanese language training, including three postings to Tokyo, and culminating in four and a half years as British Ambassador to Japan from 2008 to 2012. He is an Associate Fellow of the Asia-Pacific Programme of the Royal Institute of International Affairs and is currently Chair of the Nursery and Midwifery Council, as well as acting as adviser to a number of cultural and educational bodies.

Sam Dean

Sam Dean

Independent Non-Executive Director

Sam Dean was appointed a director on 1 December 2020. He has a long career in investment banking, working in Equity Capital Markets and corporate finance on behalf of corporate and government clients globally. After starting his career in 1993 at Kleinwort Benson, he subsequently worked as a Managing Director at Citibank (1998-2001), Deutsche Bank (2001-2009), and Barclays (2009-2017). At Deutsche and Barclays, he held senior management positions as Global Head of Equity Capital Markets and Head of Corporate Finance, whilst continuing to work on client transactions.

  • Karen Brade

    Karen Brade

    Chairman and Independent Non-Executive Director

    Karen Brade was appointed a director on 1 May 2013 and assumed the Chair in July 2018. She has over 25 years’ investment experience in a range of sectors and markets. She began her career at Citibank, working on various multi-national project finance transactions. Between 1994 and 2004 she was an investment principal at CDC Group plc (the UK Government’s Development Finance Institution) where she directed equity and debt investing, portfolio management, fund raising and investor development including India, South Asia, Africa and China. Since 2005 she has been an adviser to hedge funds, family offices and private equity houses. Karen is currently the Audit Committee Chairman of Augmentum Fintech plc and Chairman of Keystone Positive Change Investment Trust plc.

  • claire boyle

    Claire Boyle

    Independent Non-Executive Director

    Claire Boyle was appointed as an independent non-executive director of the Company with effect from 1 February 2019. She has over 17 years' experience working in finance and equity investment management, working on funds over a wide range of sectors for international corporate, Government, State and retail clients, including unit and investment trusts. She was a partner at Oxburgh Partners LLP with responsibility for their European Equity Hedge Fund, and prior to that a European Equity Fund Manager at American Express Asset Management, where her role included both equity investment and business development. Claire is a chartered accountant, qualifying in 1993 whilst working in litigation support at Coopers & Lybrand, before starting her investment career on the UK research desk at Robert Fleming. She is also currently Chairman of Life Science REIT plc, the Audit Committee Chairman of Fidelity Special Values plc and a director of The Monks Investment Trust PLC.

  • Sir David Warren

    Sir David Warren

    Independent Non-Executive Director

    Sir David Warren was appointed on 1 December 2015. He had a career in the British Diplomatic Service of over 35 years, concentrating on East Asia following his initial Japanese language training, including three postings to Tokyo, and culminating in four and a half years as British Ambassador to Japan from 2008 to 2012. He is an Associate Fellow of the Asia-Pacific Programme of the Royal Institute of International Affairs and is currently Chair of the Nursery and Midwifery Council, as well as acting as adviser to a number of cultural and educational bodies.

  • Sam Dean

    Sam Dean

    Independent Non-Executive Director

    Sam Dean was appointed a director on 1 December 2020. He has a long career in investment banking, working in Equity Capital Markets and corporate finance on behalf of corporate and government clients globally. After starting his career in 1993 at Kleinwort Benson, he subsequently worked as a Managing Director at Citibank (1998-2001), Deutsche Bank (2001-2009), and Barclays (2009-2017). At Deutsche and Barclays, he held senior management positions as Global Head of Equity Capital Markets and Head of Corporate Finance, whilst continuing to work on client transactions.

 

Financial calendar

Year End 31 March
Accounts Published June
Annual General Meeting July
Dividend Paid July, December

Trust details

abrdn Japan Investment Trust plc

Registered Office:
Bow Bells House
One Bread Street
London
EC4M 9HH

Registered in England and Wales as an Investment Company Number 03582911

Launch Date: October 1998

Risk Warning
Risk warning
The value of investments and the income from them can go down as well as up and you may get back less than the amount invested. Please refer to the relevant Key Information Document (KID) prior to making an investment decision. Please be aware of scams that can affect investors.