"What should you buy? One popular bet is Toyota Motor (TM), which has been grabbing market share from its global rivals."

"If you believe Japan is poised to rally, brokers like Nomura Holdings (NMR) look attractive, particularly if domestic investors come back home."

"Also worth considering: exchange-traded funds that focus on Japan, such as iShares MSCI Japan (EWJ), as well as mutual funds that do the same."

"Larry Jeddeloh, who pens the Institutional Strategist newsletter, has been recommending Japan Small Cap Fund (JOF). "The over-the-counter market is just on sale," says Jeddeloh. "I'm a simple guy. I look at Japan -- they have record profits, record dividend payouts, more M&A than ever done this year, and they have a record amount of stock buybacks. And the market is down!"