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日本从泡沫破裂到“投资立国”历史进程复盘

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所属报告：

商贸零售行业2026商贸零售年度策略：出海进行时-251115（57页）.pdf

打包全文图表

表 1：日本美妆集团收并购品牌一览 ..................................................................................................................... 13 表 2：美国对华关税变动一览 ................................................................................................................................. 27 表 3：胶原蛋白公司出海进展 ................................................................................................................................. 31 表 4：国内头部美妆公司在海外布局进展 ............................................................................................................. 31 表 5：国内美妆品牌收并购情况 ............................................................................................................................. 33 表 6：黄金珠宝海外市场分析结论汇总表 .............................................................................................................. 39 表 7：黄金珠宝上市公司海外业务布局情况梳理 .................................................................................................. 41 表 8：美国消费电子品牌市占率（以销售量计，%） ......................................................................................... 49 表 9：安克与头部消费电子品牌产品对比 ............................................................................................................. 49 表 10：致欧科技与本土龙头品牌对比 ................................................................................................................... 51 表 11：重点公司估值表（2025/11/14） .................................................................................................................. 54 1. 日本复盘：出海助力内需一转颓势 1.1. 从“泡沫年代”到“投资立国” 纵览日本 1985 年起的 GDP 总量，在 1990 年增速达到顶峰之后快速回落，虽在小泉内阁执政期间有所回暖，但过早停止刺激政策、世界性金融危机爆发叠加日本大地震影响，日本 GDP 持续走弱。此后，日本步入“安倍经济学”时代，大规模刺激政策+支持企业出海成为了日本经济扭转颓势的关键。

行业数据原图定位