Tokyo - Impressed by the so-called FANG shares’ performance over the past year? Japan has a similar group that’s doing even better.
Meet the Sunrise stocks: SoftBank, Nintendo, Recruit and Sony (SNRS, or Sunrise). They’ve risen an average of 65% in the 12 months through Friday, versus an average 44% gain for the group known as FANG: Facebook, Amazon.com, Netflix and Google’s parent Alphabet Japan’s benchmark Topix index added 19% in the period.
While both clusters feature members of the new economy, one thing that binds the Sunrise stocks, as some market participants have taken to calling them, is their overseas prospects. Masayoshi Son’s SoftBank, for instance, has been seeking a turnaround at Sprint in the US, Sony has its PlayStation, semiconductor and entertainment businesses, while Nintendo’s Switch console has become a global bestseller. Recruit, perhaps the least known of the group outside Japan, bought a US job site in 2012.