Japan Summit 2026 | Growth, Reform & Japan’s Structural Uptrend

Summary

At the Japan Summit 2026, Alberto Tamura, President and CEO of Morgan Stanley Japan, and equity strategist Sho Nakazawa discuss Japan's structural uptrend. Nakazawa highlights stable inflation, rising wages, corporate governance reform, and capex-led growth as key supports. The event gathered over 2,000 participants and 160 corporates to discuss growth and reform.

• Morgan Stanley and MUFG co-hosted the Japan Summit 2026 with over 2,000 participants.
• Alberto Tamura opened the summit, noting the large attendance and participation of corporates and policymakers.
• Sho Nakazawa observed that the quality of discussions reinforced the view of a structural uptrend in Japan.
• Key supports for the uptrend include stable inflation, rising wages, and corporate governance reform.
• Corporate profit improvement and a shift away from household excess cash are also supportive.
• The Kishida administration's growth and crisis management investment is strengthening Japan's supply-side structure.
• Inflation is described as sticky, with growth driven more by capex than consumer consumption.
• The overall message is bullish on Japan's equity market outlook.