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Japan's surging stocks have more companies in trillion-yen club

Corporate investment and international tourism fuel rising market caps

Company valuations have risen sharply in Japan over the past year, fueled by rising corporate investment and international tourism.   © Reuters

TOKYO -- The number of Japanese companies with market capitalizations of more than 1 trillion yen ($9.19 billion) has reached new highs over the past year, as equity investors pour money into everything from software makers to cosmetics companies.

As of Friday, 152 companies had market values of more than 1 trillion yen, 29 more than a year ago. New members of the trillion-yen club include Misumi Group and Yaskawa Electric, which have seen their earnings rise thanks to growing corporate investment in factory automation. 

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