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After a decade of dormancy, Japan is back in business, Jim Cramer said Tuesday on his "Mad Money" TV show, a compilation of previously aired episodes. For those looking for growth, Cramer offered his seven samurai stocks, a list of names he put together several months ago, but still believes are poised for growth.
These stocks are the best of breed in Japan, but people still need to do their homework, Cramer advised. Some of these names are exporters and are sensitive to the yen's exchange rates.
Even if these stocks are not all worth buying right now, he said, they will be worth buying at some point.
The first of Cramer's seven samurai is
(MTU - Get Report)
, which he owns for his
Action Alerts PLUS
charitable trust and which he first offered as a samurai pick on his
Oct. 11 "Mad Money" show
Cramer said there was one main reason for buying this company: history. Japan is positioned much like the U.S. was back in 1991: It's coming out of a terrible real estate depression in which the values plummeted and few major banks survived.
During this period, Cramer said he was shorting all the banks for a year in 1990, making money hand over fist as one after another blew up.
But when real estate bottomed in the U.S. during that period, it was time to buy banks, and one in particular:
, he said.
Mitsubishi looks a lot like Citibank did in 1991. This stock was in the single-digits until it broke out in August, and since then it has traveled all the way to $13. Mitsubishi is the best way to play it, he said.
Cramer warned his viewers to be careful as Japanese interest rates could hurt this stock, but said that over the long term, Mitsubishi is a compelling story.