Today with Marubeni $8002 (+1,08 %) my third Japan position in the portfolio.

Marubeni is a wonderfully boring broadly diversified trading and industrial conglomerate, which complements my long-term portfolio well.

The valuation is fair, but of course includes the usual conglomerate discount. The development of the balance sheet and P&L over the past years is just as continuously positive as the share performance and the dividend development (3% p.a. with strong div growth). Although the stock may be somewhat overbought, the MACD is positive, as is the SMA 20/50/200.

On the risk side, one must certainly mention the increased currency risk, among other things, also due to the current interest rate differentials, such as a possible upcoming interest rate hike by the Japanese central bank, which is likely to lead to turbulence on the Japanese stock markets.

With Itochu $8001 (+0,88 %) and Sumitomo $8053 (+0,39 %) Japan now has a 6% share in my portfolio, so that should be fine.