TOKYO -- Foreign investors' demand for Japanese stocks has waned as momentum shifts to European and Chinese shares and as the appeal of Tokyo's corporate governance reforms begins to lose steam.
First phase of Tokyo's governance reforms has begun losing appeal

The Nikkei Stock Average dropped more than 2% on Friday amid concerns the U.S. could be heading in to a recession and a stronger yen. (Photo by Rie Ishii)
TOKYO -- Foreign investors' demand for Japanese stocks has waned as momentum shifts to European and Chinese shares and as the appeal of Tokyo's corporate governance reforms begins to lose steam.