d lead to a weaker yen, in our view. Key date: 12 July, BoJ policy meeting 36 UBS For further information please contact ClO asset class specialist Toru Ibayashi, [email protected] Preference: neutral Recommendations Tactical (6 months) e The earthquake in Japan and recent floods in Thailand have impac

uld lead to a weaker yen, in our view. Key date: Oct 30, BoJ policy meeting 2 UBS For further information please contact ClO asset class specialist Toru Ibayashi, [email protected] Recommendations Tactical (6 months) e Japanese value stocks have under- performed growth stocks by more than 20% for the la