Bad news out of Japan including the resignation of Nomura's CEO following an insider trading scandal and a sharp drop in profits at Nissan, investors should not shy away from Japan, Ed Rogers, chief executive officer at Rogers Investment Advisors K.K. told CNBC.
Rogers remains bullish on the prospects for Japan’s economy, and expressed confidence in the Japanese auto sector.
“We’ve already been through our lost decade and we’re still in great shape,” Rogers told CNBC.
“Cars are a great commodity, in that you can pick up production and move it elsewhere, as Nissan is doing now,” Roger said, added that “Nissan still has great management and great cars.”
Rogers wants investors to draw the distinction between Japanese banks and Japanese securities firms, like Nomura . “The securities business is a very tough business to be in right now. You’re fighting regulators globally, you’re fighting public opinion and you’re fighting probably the biggest deleveraging we’ve seen since the great depression in the 1930s,” he said, and added that “Nomura is in for more tough times, no matter who is at the helm.”