A big mistake many analysts make is to judge Japan's economic performance by Western standards, said de Stains from the British chamber.
They should look at individual savings and spending power rather than stock prices, he said, noting that the average Japanese household has US$160,000 in assets.
Share price movements have less impact on Japanese people than in the US as there are far fewer individual investors here, he said.
But perhaps it suits Japan to allow the West to dismiss it as a lumbering zombie rather than a powerful threat.
"The Japanese are very good at seeing the dark side ... it is in their nature," de Stains said. "It's not done to say well of course we are doing okay. It suits the Japanese in many many ways to let the rest of the world think that things are worse than they really are."
Many foreign firms that have ventured into Japan are enjoying huge success.
A recent survey by the British chamber of 386 foreign companies here found that 72 percent saw future growth in their market.
Robertson from S-Vic came to Tokyo almost two years ago to set up his own company, which makes e-learning language programmes, with the help of consumer electronics giant Sony Corp.
He expected to face difficulties here after being fed a diet of bad news, but was pleasantly surprised.
"For every one product we sell in Japan the returns are about the same as between three to five products sold in China or other Asian nations," he said. "If you sit and listen to bankers and analysts before making a move, then you will never get off your chair."
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