Japan stocks’ 28% jump in 2023 fueled by reform, Buffett and M&A

TOKYO — Japanese stocks wrapped up 2023 with historic gains thanks in large part to three drivers: the Tokyo Stock Exchange’s push for reform at undervalued companies, Warren Buffett’s trip to Japan, and a rise in acquisitions.

The Nikkei Stock Average ended the final trading day of the year at 33,464 on Friday, up 28% on the year for the biggest rise since the record-setting year of 1989.