Markets The Best Performing Japanese Stocks (1-Year Returns) See this visualization first on the Voronoi app. The Best Performing Japanese Stocks (1-Year Returns) This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources. On Feb. 22, 2024, the Nikkei 225 (Japan’s leading stock index) closed at 39,098.68, setting a new record high for the first time since 1989 . A little over a week later, the index surpassed 40,000 for the first time ever. To add context to Japan’s recent stock rally, we’ve ranked the top 10 Japanese stocks by their 1-year percentage gains. This is shown by the black bars in the graphic, while market capitalization (in USD) is shown by the white bubbles. All figures are as of March 5, 2024. The figures we used to create this graphic are listed in the table below. Company Stock Symbol 1-Yr Performance (%) Market Cap (USD)
Sakura Internet Inc 3778 1,515 $2.2B Sumiseki Holdings 1514 1,032 $1.3B Japan Engine Corp 6016 1,022 $275M Micronics Japan 6871 507 $2.1B Namura Shipbuilding Co 7014 491 $1.0B Genetec Corp 4492 481 $71M Yamadai Corp 7426 441 $33M Mitsui E&S Co 7003 438 $1.3B Towa Corp 6315 423 $1.8B Forside Co 2330 381 $110M Nikkei 225 Index — 44 — While all of these stocks have greatly outperformed the Nikkei 225, just three have grown by over 1,000% over the 1-year period ending March 5, 2024. Sakura Internet Soars after AI announcement Japan’s best stock over the past 12 months is Sakura Internet Inc., which offers a variety of internet services like cloud computing and home internet. The stock rallied after it was announced that Sakura would be building a supercomputer designed to develop generative AI models. On top of that, the Japanese government is expected to cover half of the computer’s cost. The Nikkei 225 Experiences a Pullback Unfortunately, nothing moves in a straight line. Since closing at 40,109.23 on March 4, 2024, the Nikkei 225 index has fallen 3.6% , closing at 38,695.97 on March 13. Some believe this dip will be short-lived, and that the rally will continue throughout the year. Japanese companies have reported strong earnings as of late, partly thanks to a weak yen, which benefits many of the country’s export-reliant companies. Another reason is the creation of the Nippon Individual Savings Account (NISA), which encourages Japanese households to invest more of their savings in domestic equities. If you’re interested in learning more about the Japanese stock market, consider this graphic which illustrates the country’s 25 largest companies by market cap. Markets The U.S. Banks With the Highest Exposure to Commercial Real Estate Here are the banks with the highest concentration of commercial real estate loans as the sector faces mounting pressures. U.S. Banks With the Most Commercial Real Estate Exposure This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources. Today, there is roughly $5.7 trillion in commercial real estate debt outstanding—with U.S. banks holding approximately half of this total on their balance sheets. The commercial property sector, which includes office, retail, healthcare, and multi-family properties, has faced mounting pressures amid high interest rates and lower occupancy levels. Given these headwinds, it poses the risk of higher defaults and steep loan losses in a sector that has not fully recovered since the collapse of Silicon Valley Bank last year. This graphic shows the U.S. banks with the highest exposure to the commercial real estate sector, based on analysis from UBS. Top U.S. Banks, by Share of Commercial Property Loans Here are the banks with the greatest concentration of commercial property loans as of the third quarter of 2023: Bank Commercial Real Estate Share of Total Loans Total Commercial Real Estate Loans Total Assets Bank OZK 68.6% $17.4B $32.8B Home BancShares, Inc. 63.0% $9.0B $22.0B Pacific Premier Bancorp, Inc. 63.0% $8.4B $20.3B International Bancshares Corporation 59.3% $4.7B $14.9B New York Community Bancorp Inc 57.0% $49.0B $111.2B Independent Bank Group, Inc. 56.1% $8.0B $18.5B Valley National Bancorp 54.9% $27.5B $61.2B CVB Financial Corp. 50.2% $4.5B $15.9B Independent Bank Corp. 48.9% $7.0B $19.4B Axos Financial, Inc. 48.6% $8.3B $20.8B Simmons First National Corporation Class A 48.2% $8.1B $27.6B United Bankshares, Inc. 46.2% $9.8B $29.2B WaFd, Inc. 45.9% $8.1B $22.5B ServisFirst Bancshares Inc 44.9% $5.2B $16.0B WesBanco, Inc. 43.4% $4.9B $17.3B Banner Corporation 42.9% $4.6B $15.5B TowneBank 42.6% $4.8B $16.7B Renasant Corporation 42.4% $5.3B $17.2B FB Financial Corporation 42.3% $4.0B $12.5B Glacier Bancorp, Inc. 42.0% $6.8B $28.1B As the above table shows, the vast majority of banks with the greatest exposure are small and medium-sized financial institutions. Bank OZK, based in Arkansas, has the highest proportion of commercial property loans, at 68.6% of total loans. As one of the country’s most prominent lenders to Manhattan property developers, its share price has outperformed the S&P 500 by tenfold since going public 27 years ago. New York Community Bancorp, the only big bank on the list, has $49 billion in commercial property loans, making up 57% of its overall loans. At the height of regional banking turmoil last year, one of New York Community Bancorp’s subsidiaries took over the failed Signature Bank in a multi-billion dollar deal. Since the bank reported $2.7 billion in losses in the fourth quarter of 2023, its share price has plummeted roughly 68%. The surprise loss—which was revised from $252 million—prompted the bank to seek a $1 billion lifeline from investors to help shore up confidence in the institution. Former U.S. Treasury Secretary Steven Mnunchin was a major investor in the deal. Like New York Community Bancorp, a number of other regional banks have seen their share prices lag due to its fallout. Commercial Property Debt Concentrated in Small Banks Below, we show how the majority of commercial real estate loans are found in small U.S. banks, which are those with assets of $20 billion and under: With 56.1% of all commercial property loans, small U.S. banks face the highest risk compared to other bigger banks. Given the high share of loans, banks may run the risk of failure especially if credit losses accelerate and valuations decline. At the same time, it could be more challenging to refinance debt as valuations deteriorate. While these troubles have begun to emerge over the last year, there is also the likelihood that losses could continue over the next several years. In fact, after the global financial crisis, credit losses peaked two years after delinquencies hit their highest point. Popular
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