After the spring of 2002, however, the pace of the deterioration moderated, reflecting the recovery in overseas economies. Recently, Japan's economy has almost stabilized as a whole with an increasing upward impetus from exports and production, and an improvement in corporate profits and business sentiment. Employment conditions continue to improve, albeit marginally, with an increase in overtime hours worked and in new job offers.
Our public sector clients mainly focus on the inclusion of ESG criteria in equity investments, followed by initial approaches in fixed-income portfolios. Based on a passive investment strategy, we combine various best-in-class approaches with exclusionary screening. Our experience over the past few years has shown that developing a sustainable investment strategy requires thorough preparation. There is no “one-size-fits-all” approach to ESG criteria.