The shift in his view highlights potential upside for the yen, where inflation-adjusted interest rates have exacerbated its decline to multidecade lows.
Profits and rising share prices in the sector, undiminished by customer hesitancy, are adding to speculation the Bank of Japan may upgrade its inflation forecast next week.
The e-commerce giant has racked up four years of losses as its mobile-phone business drains cash.
The Alma Eikoh Japan Large Cap Equity fund has cut its position in Renesas Electronics by almost a third over the past month as the stock more than doubled in value to date.
The government-backed Japan Investment Corp. plans to offer shareholders ¥4,350 a share in a tender offer around December.
An upcoming rush of initial public offerings has lifted sentiment toward startups, with more than 10 new stocks expected to start trading in Tokyo between now and the end of June.
Investors are hoping that under inflation, companies will be able to raise prices without encountering too much pushback from customers.
Firms also need to adapt to changing attitudes among workers who value family life and flexibility more than they did in the past, the company's first female country chief has said.
Some of the world’s most famed investors are voicing a near consensus that Japan’s stock market is the place to be as its larger peers grapple with rising economic headwinds.
The Nikkei stock index advanced as much as 1.2% to 30,924.57, putting the blue-chip gauge at the highest intraday level since August 1990.
