World Economy

Abe Plan

Abe PlanAbe Plan

Japanese Prime Minister Shinzo Abe’s plan to revive the nation’s economy is leaving small companies behind, Bloomberg reported. The broadest measure of equities has soared 18% since Oct. 31, when the Bank of Japan pledged to triple its share purchases and the $1.1t public pension fund doubled its allocation to local stocks. Left in the Topix index’s wake: a gauge of startup technology and other small companies, which added 0.8%. While Abe is counting on monetary easing, fiscal stimulus and reforms to put the economy on a solid footing, the measures are so far exacerbating a divide between Japan’s big exporters and the smaller firms getting no support from a weaker yen or state-financed share purchases.