WAYS TO INVEST FROM JAPAN
What moves with each stage?
Key points
- A company's shares do not move like the thing it sells. Japan's copper companies (Sumitomo Metal Mining, JX, Mitsubishi Materials, the trading houses) have moved with the Tokyo market more than with copper: smelters earn processing fees and the trading houses run many businesses.
- What did move with copper: US copper miners such as Freeport, and the funds that track copper futures (1693 in Tokyo, CPER in the US). 1693 cannot be held in a NISA.
- Japan's grid and cable makers also moved more with the Tokyo market than with US power-equipment stocks. The closest ride on US power demand is US shares such as GE Vernova, Eaton and Vertiv.
How to read the table
For each listing we compare its weekly price moves over the past two years with three yardsticks: the stock market as a whole (TOPIX for Tokyo listings, the S&P 500 for US ones), the copper price (COMEX futures, in yen for Tokyo listings), and the average of four US power-equipment stocks (GE Vernova, Eaton, Vertiv, Constellation), which stands for the power-demand theme. The number is how closely they move together: 0.8 or more means almost in step, around 0.5 means about half the time, 0.2 or less means hardly linked. The label shows the highest of the three. Past co-movement does not guarantee the future.
NISA growth quota: individual shares listed in Tokyo and the US are generally eligible (except those being delisted). ETFs must be on the official list; we mark them “not confirmed” unless we could check. Check with your broker before buying.
Generation
Power-plant equipment (gas turbines, reactors) and generation itself
| Listing | NISA growth quota | Since end-2019 | 1 year | Moves most with (how closely, 0–1) | What it is |
|---|---|---|---|---|---|
| Mitsubishi Heavy Industries7011 · Tokyo · share | Eligible (single stock) | +933% | -2% | The stock marketmarket 0.58 · copper 0.11 · power 0.29 | A leading maker of large gas turbines; also nuclear |
| Kansai Electric Power9503 · Tokyo · share | Eligible (single stock) | +171% | +27% | The stock marketmarket 0.38 · copper 0.04 · power 0.10 | The utility furthest along in restarting its reactors |
| Kyushu Electric Power9508 · Tokyo · share | Eligible (single stock) | +165% | +41% | The stock marketmarket 0.43 · copper 0.10 · power 0.09 | Four reactors running; new chip plants keep arriving in Kyushu |
| GE VernovaGEV · US · share | Eligible (single stock) | listed 2024-03 | +57% | US power-equipment stocksmarket 0.44 · copper 0.14 · power 0.71 | The largest gas-turbine maker; also grid equipment |
| Constellation EnergyCEG · US · share | Eligible (single stock) | listed 2022-01 | -21% | US power-equipment stocksmarket 0.39 · copper 0.23 · power 0.55 | The largest US nuclear operator, selling power to data centres on long contracts |
| CamecoCCJ · US · share | Eligible (single stock) | +896% | +2% | US power-equipment stocksmarket 0.45 · copper 0.26 · power 0.51 | A major uranium miner and fuel processor |
| Global X Uranium ETFURA · US · ETF | Not confirmed | +351% | -13% | US power-equipment stocksmarket 0.52 · copper 0.33 · power 0.56 | Uranium miners and nuclear-related shares |
| Sprott Uranium Miners ETFURNM · US · ETF | Not confirmed | +341% | -18% | US power-equipment stocksmarket 0.46 · copper 0.33 · power 0.48 | Uranium miners plus physical-uranium trusts |
Grid and electrical equipment
Transformers, switchgear, switchboards and data-centre power gear
| Listing | NISA growth quota | Since end-2019 | 1 year | Moves most with (how closely, 0–1) | What it is |
|---|---|---|---|---|---|
| Hitachi6501 · Tokyo · share | Eligible (single stock) | +572% | +42% | The stock marketmarket 0.61 · copper 0.40 · power 0.37 | A world leader in grid equipment (the former ABB power-grids arm) |
| Fuji Electric6504 · Tokyo · share | Eligible (single stock) | +367% | +41% | The stock marketmarket 0.63 · copper 0.07 · power 0.38 | Substation gear and data-centre power supplies |
| Meidensha6508 · Tokyo · share | Eligible (single stock) | +457% | +99% | The stock marketmarket 0.56 · copper 0.24 · power 0.38 | Transformers and substation equipment |
| Daihen6622 · Tokyo · share | Eligible (single stock) | +745% | +69% | The stock marketmarket 0.61 · copper 0.25 · power 0.41 | Distribution transformers |
| EatonETN · US · share | Eligible (single stock) | +412% | +19% | US power-equipment stocksmarket 0.60 · copper 0.19 · power 0.75 | Switchgear, power distribution and data-centre power |
| VertivVRT · US · share | Eligible (single stock) | +2,125% | +76% | US power-equipment stocksmarket 0.56 · copper 0.20 · power 0.75 | Power and cooling for data centres |
| First Trust Smart Grid Infrastructure ETFGRID · US · ETF | Not confirmed | +247% | +20% | The stock marketmarket 0.81 · copper 0.40 · power 0.74 | Grid equipment and construction shares |
Cables
Power lines, and the cables and fibre inside data centres
| Listing | NISA growth quota | Since end-2019 | 1 year | Moves most with (how closely, 0–1) | What it is |
|---|---|---|---|---|---|
| Fujikura5803 · Tokyo · share | Eligible (single stock) | +7,202% | +102% | The stock marketmarket 0.53 · copper 0.14 · power 0.50 | Fibre and power cables; data-centre sales have surged |
| Furukawa Electric5801 · Tokyo · share | Eligible (single stock) | +1,448% | +297% | US power-equipment stocksmarket 0.41 · copper 0.10 · power 0.52 | Power cables and optical fibre |
| Sumitomo Electric5802 · Tokyo · share | Eligible (single stock) | +542% | +108% | The stock marketmarket 0.65 · copper 0.18 · power 0.48 | Japan's largest cable maker, including subsea power cables |
Copper miners, smelters and traders
Companies that mine, smelt or own stakes in copper
| Listing | NISA growth quota | Since end-2019 | 1 year | Moves most with (how closely, 0–1) | What it is |
|---|---|---|---|---|---|
| Sumitomo Metal Mining5713 · Tokyo · share | Eligible (single stock) | +230% | +102% | The stock marketmarket 0.55 · copper 0.39 · power 0.26 | Copper, gold and nickel mines and smelting |
| JX Advanced Metals5016 · Tokyo · share | Eligible (single stock) | listed 2025-03 | +87% | The stock marketmarket 0.45 · copper 0.23 · power 0.39 | Copper smelting and chip materials; listed March 2025 |
| Mitsubishi Materials5711 · Tokyo · share | Eligible (single stock) | +108% | +86% | The stock marketmarket 0.62 · copper 0.27 · power 0.23 | Copper smelting and processing |
| Mitsui Kinzoku5706 · Tokyo · share | Eligible (single stock) | +10,215% | +114% | The stock marketmarket 0.51 · copper 0.20 · power 0.25 | Non-ferrous smelting and electronic materials |
| Mitsubishi Corp.8058 · Tokyo · share | Eligible (single stock) | +522% | +37% | The stock marketmarket 0.44 · copper 0.11 · power 0.16 | Stakes in Chilean and other copper mines, within a broad business |
| Mitsui & Co.8031 · Tokyo · share | Eligible (single stock) | +538% | +35% | The stock marketmarket 0.47 · copper 0.08 · power 0.11 | Copper and iron-ore stakes, within a broad business |
| Freeport-McMoRanFCX · US · share | Eligible (single stock) | +492% | +103% | The copper pricemarket 0.55 · copper 0.57 · power 0.38 | A major copper miner; runs the Grasberg mine |
| Southern CopperSCCO · US · share | Eligible (single stock) | +566% | +84% | The copper pricemarket 0.53 · copper 0.55 · power 0.34 | Among the largest copper reserves (Peru and Mexico) |
| BHPBHP · US · share | Eligible (single stock) | +163% | +61% | The stock marketmarket 0.53 · copper 0.53 · power 0.29 | The largest miner; copper and iron ore |
| Global X Copper Miners ETFCOPX · US · ETF | Not confirmed | +381% | +54% | The copper pricemarket 0.59 · copper 0.61 · power 0.42 | Copper-mining shares worldwide |
Copper itself
Products that track the copper price
| Listing | NISA growth quota | Since end-2019 | 1 year | Moves most with (how closely, 0–1) | What it is |
|---|---|---|---|---|---|
| WisdomTree Copper (Tokyo)1693 · Tokyo · ETF | Not eligible | +205% | +41% | The copper pricemarket 0.37 · copper 0.79 · power 0.12 | Tracks a copper futures index (Tokyo, in yen) |
| United States Copper Index FundCPER · US · ETF | Not confirmed | +126% | +35% | The copper pricemarket 0.42 · copper 0.99 · power 0.23 | Tracks copper futures (US) |
Price changes include dividends (adjusted closes), in each listing’s own currency, to 29 Sep 2026.
Source: Yahoo Finance
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This page organises information; it does not recommend buying or selling anything. Data belongs to each publisher and may contain errors or delays. Make your own investment decisions.
Updated 29 Sep 2026 11:12 JST · US power data to May 2026 · metal prices to Aug 2026