Concerns about Japan as an investing idea

Nearly everyone seems to love Japan again. The only real detractor I found was on What Investment (https://goo.gl/TxjHvz):

Bell remarked that while Japanese corporate earnings may rise this year, ‘that may already be in the valuations.’

According to Starcapital, Japan has a CAPE of 24.9 and a PE of 19.4. That hardly makes it an obvious buy sector in my view. Furthermore, according to Trustnet stats, Japan is the third best-performing sector over 5 years, topped only by biotech & healthcare and tech media & telecomm.

Given the good 5-year performance, and toppy-looking valuations, I am far from convinced about the merits of investing in Japan.

Stay safe out there.