Japan's biggest bank by assets and market value is keen to expand outside its domestic market, where loan demand is sluggish following two decades of economic stagnation.
The report said that falling solar subsidies in Europe and new Chinese government policies to boost domestic demand contributed to the fast growing China market.
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Slow or near-zero growth in domestic demand has made the inflexibility of the German labour market ever more costly for businesses.
But will it be enough, given that domestic demand for electronics is shrinking fast and foreign rivals are taking market share elsewhere?
To be sure, even as domestic demand-related stocks take the lead in Japan's rally, the market remains vulnerable to any resurgence in the yen.
The optimism is based not on an expectation of rapid or large increases in domestic sales, but rather on confidence in the continued strength of overseas market demand for Japanese products.
However, the two most important questions to be answered are: is the export market large enough to make up for the dip in domestic coal demand, and how long will it take for companies in the U.S. to be able to take advantage of the export markets?
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To be sure, even as domestic demand-related stocks take the lead in Japan's share rally, the market remains vulnerable to any resurgence in the yen, given the still-large weighting of exporters in the indexes.
But Annalisa Piazza, market economist at Newedge, warned that demand was "probably led by domestic accounts who took advantage of higher yields".
Given the importance of property to domestic demand, the government is highly unlikely to want to clamp down hard on the housing market.
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Within the domestic defense market, industry has evolved in a way that makes it highly resilient to softening demand.
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Emerging Markets Domestic Demand fund includes five sectors that Emerging Global Advisors believes may be most influenced by organic growth within emerging market economies.
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