All the signs are there for some very good returns. I would suggest that anyone looking for coverage buys into the Legg Mason Japan Fund.

I have holdings in Fidelity Japan Values and Invesco Japan, the latter is not so well traded but both have performed more or less the same since I bought them. I think at the moment it doesn't matter which fund or Japan index tracker you get into as the whole index appears to be going up for the foreseeable future

I hold some Crosby capital--CSB and they have some very good investments in Asia and Japan. They are doing well and the sp is rising strongly--I'd like some more companies like this one--is there a Japanese Google??? only joking!

If you can see Sat. Telegraph in money section pge 3 full page artical on the far eastern funds& also if you can get hold of a copy of What Investment
Thier Web Site is

www.whatinvestment.co.uk
Asset Allocation pge 50-57 gives the run down on funds worth buying

I've been looking to invest directly into Japan for a while but like you moneyplus would rather invest in individual stocks exposed to Japan. Have a look at Metal Tech, ive got a thread for it but its rather quiet at the minute! The results this week was storming and a buy note from a number of press realises this week including shares! Its rocketed at bit this week but still has a P/E of 5 this year dropping to four next year. Here's a snippet of their results below


Metal-Tech Ltd
12 September 2005

12 September 2005



Metal-Tech ('Metal-Tech' or the 'Company') Announces Record Half Year Results


Interim Results for the 6 months ended 30 June 2005


Metal-Tech, a leading specialty metal and metal-based chemicals company focusing
on the production and upgrading of low grade metals, is pleased to announce its
results for the period 1 January 2005 to 30 June 2005, its first set of results
since its admission to AIM in May 2005. Metal-Tech, which is based in Israel
but operates in markets around the world, produces tungsten, molybdenum and
other specialty metals, chemicals and metal powders which are used mainly in the
stainless steel, petrochemical and cutting tools industries.


Highlights:


Revenues up by 227% to US$55.0 million (2004: US$16.8 million)

Gross profit margin increased to 27.0% from an average of 24.2% in
the full year of 2004

Earnings per share (EPS) up 320% to US$0.21 (2004: US$0.05)

Net profit of US$8.1 million, significantly above half year 2004 net
profit of US$1.6 million

Six months net profit to 30 June 2005 exceeds 90% of net profit for
full year 2004

Successful admission to AIM in May 2005 raising 10.5 million before
expenses

Opening ceremony of the new molybdenum plant in Mongolia took place
on 5th September, making Metal-Tech the pioneer, and as yet only,
foreign company to establish a hydrometallurgy chemical plant in
Mongolia. The new plant should increase the profit margin of the
Mongolian present operation.


Commenting on the results, Ran Maimon, Chief Executive of Metal-Tech, said:

'We are very pleased by these financial results which have exceeded our internal
budgets. We joined AIM in May of this year and have successfully grown the
business in production quantities and sales to existing and new customers. We
have successfully established on schedule a new state of the art molybdenum
plant in our subsidiary in Mongolia together with Erdenet Mining Corporation,
which will strengthen our position in the Asian markets. The plant which
converts low grade molybdenum concentrate into quality molybdenum oxide is
designed to a capacity of 2,000 tons per year and is well placed at a time where
there is global shortage of molybdenum refining. The plant is due to be in
operation by the end of this year. The current intention is to declare an
inaugural dividend at the end of the current financial year.'

NOTE 2 - REVENUES BY GEOGRAPHICAL SECTOR

Revenues classified by geographical destinations based on the customer location:

Unaudited six months, Audited 12
Ended 30 June, months ended
31 December,
2005 2004 2004

United States 11,378 4,374 11,473
China 9,869 3,925 21,878
Japan 20,930 2,448 11,830
Europe 5,948 4,781 9,332
Others 6,893 1,276 4,459

55,018 16,804 58,972

cheers blackbelt-seems a great find and not much attention at the moment. That's the sort of company I like as on results like those it's one to tuck away I will check it out. What is the epic?