Corporate Revival Is Wasted In The Land Of Public Debt

And the prize goes to…Japan. It is not China but Japan which has announced the largest global IPO in two years. Dai-ichi Mutual Life Insurance is going on the market for a staggering US$11.8bn, shortly after Japan confirmed its status as the world's second biggest economy with Q409 GDP growth of 1.1%q-o-q (4.6%y-o-y). CFW first examines whether the noteworthy IPO is symptomatic of Japan's macroeconomic recovery and then questions the sustainability of the latter.

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