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Baillie Gifford Japan Trust PLC on Tuesday said the ‘sun has shone’ on the portfolio this financial year, as it reported continued momentum in the Japanese equity market. The trust, managed by Edinburgh, Scotland-based Baillie Gifford, invests for long-term capital growth mostly in medium to smaller sized Japanese companies. Baillie Gifford Japan reported a net asset value total return per share of 20.5% for the financial year that ended August 31, outperforming the benchmark TOPIX, or Tokyo Stock Price Index, which returned 12.1%. NAV per share advanced 19% to 1,017.1 pence at August 31 from 855.0p a year prior, and the trust declared a flat final, and therefore total dividend for the financial year of 10p. The trust reported a share price total return for the period of 20.9%, narrowing its discount slightly to 11.4% from 11.6%. The company noted that a double-digit discount presents an ‘attractive opportunity’ to add value through share buybacks. Shares in Baillie Gifford Japan fell 1.1% to 940.65p on Tuesday morning in London. On performance, manager Baillie Gifford said ‘the sun has shone on your company’s portfolio this year’, as it noted that most of the positive absolute and relative return took place in the second half, ‘with SoftBank Group making a key positive contribution.’ ‘This past year has seen Japan’s equity market continue to build on the momentum of its long-awaited resurgence, with corporate reforms, robust earnings growth, and renewed global investor attention combining to push valuations to levels not seen in decades,’ said Chair David Kidd. ‘The Japanese equity market is reaching new highs. Our investment manager’s strategy is once again bearing fruit. I intend to remain a happy, supportive shareholder for a very long time,’ continued Kidd. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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