Financial Products Group (TSE:7148), a new position in the portfolio, surged during the quarter on the back of strong earnings and guidance revisions. The company creates and sells tax planning products to wealthy business owners. Demand has been robust as profitable business owners look to defer more taxes ahead of a scheduled corporate tax cut, while a round of equity raising last year increased the company’s ability to supply more products.
From Matthews Japan Fund (Trades, Portfolio) Q1 2015 Commentary.
