Japan valuations "are getting very attractive," said Templeton Emerging Markets Executive Chairman Mark Mobius, so much so that the country is beginning to resemble an emerging market.
He told CNBC Tuesday Japanese companies are "getting tied more and more to emerging markets," particularly in China and India, and his company might consider investing in Japanese firms as a result.
"We would buy companies that have big presences in emerging markets," he said, "and in fact we’re able to do that now if a company has over 50% of its earnings or assets" in such markets as China, India or Thailand.