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5G and smart vehicles are set to drive growth in Japan next, analyst says

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The development of 5G mobile networks, as well as smart vehicles, will be among the next hot sectors in Japan, a senior equity analyst told CNBC. Previously, the information technology industry in Japan was driven by products such as digital cameras and smartphones, but it has now reached a plateau, Kazunori Ito, senior equity analyst at Ibbotson Associates Japan, said last month. "From here, I would observe many of the growth opportunities are non-IT industries, such as autos, and many other industries driven by the diffusion of 5G," he told CNBC's "Capital Connection." Ito said his top Japanese stock picks are smartphone component maker Murata Manufacturing and electronics company TDK. Major specifications for a new 5G mobile network are expected to be set by the industry this December, he said.