"U.S. asset manager Vanguard Group said on Wednesday it will close its operations in Hong Kong and Japan and exit Hong Kong exchange-traded funds, citing unsupportive "industry dynamics".....Hong Kong is home to Vanguard's Asian headquarters. The index fund giant closed its Singapore operation in 2018.....In a separate statement, a spokesman confirmed that Vanguard would also close in Japan, and shift its primary office in Asia to Shanghai....."Our future focus in Asia is on Mainland China,"...."
I can understand Vanguard's focus on mainland China but their exit from Japan seems rash. Japan is after all still the third largest economy with a huge under-developed market for mutual fund investment.
Vanguard has invested a lot of resources in China and has developed business relationships there. It is doubling down on that when many US companies have one eye on exit from China. At a future time, it may turn out to be a brilliant or foolish move. May be Vanguard lobbyist in DC is good at reading tea leaves.