Choice of both buildings (°°)

Are Japanese companies innovating technology, improving productivity, and developing markets?
There are probably some companies that continue to grow sustainably in this way, but in general, I feel that there are many places that are not the case.
Therefore, there doesn't seem to be an internal element of rising stock prices.
However, other factors, investors' (speculative) behavior, are separate from that, and are likely to be factors that boost stock prices.
Even so, there will be no momentum like American companies that will continue to grow exponentially.

Seems like it depends a lot on “who” “what” and “to what extent” they understand
Even if that were the case with all existing successful people, would people other than those existing successful people, people who will succeed in the future, and people who will fail in the future act in the same way and all succeed?
Also, it seems impossible to say that there is a relationship between someone understanding something about the company in question and that company's performance or stock price.
However, from the viewpoint of competition for stocks with a finite number of issues, many people are interested, and if shares are actually acquired, the apparent value will probably increase.