The Long-Short 121. Why Japan is back in focus for alternative investments
Feb 11, 2026
Masaki Taniguchi, Founder and COO of Pleiad Investment Advisors with nearly 30 years in Asian equities. He explores Japan’s asset management reforms and the rise of alternative investments. Topics include the shift from 1990s liberalization to the double asset income agenda. Conversation covers activist equity, private credit, tokenized digital assets, pension shifts, and how regulatory changes are unlocking capital.
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Where Compelling Opportunities Are
- Structural themes (ageing, governance reform, inflation protection) create targeted opportunities like activism, private credit and digital assets.
- These areas are expanding due to undervaluation, bank caution in mid-market lending, and growing institutional interest in crypto-related products.
Governance Reform Is Creating Alpha
- Corporate governance has shifted: board independence and capital efficiency now central to reform.
- Many firms trade below book value and activism and shareholder proposals surged, creating value-unlocking opportunities.
Activism Is Becoming Mainstream
- Stigma around activism has faded and activist presence grew ninefold since 2014.
- Companies are responding with transparency rules, but the trend toward engagement and proposals continues to accelerate.