Point72 Asset Management plans to roughly double the size of its Japan operation to around 100 employees while increasing the amount of capital it deploys in the country, as corporate governance reforms and shifting market dynamics create new opportunities for investors.

The hedge fund, founded by billionaire Steve Cohen, is targeting additional hires across fundamental equity research, macro and quantitative strategies, according to Shinji Ogawa, head of Point72's Japan business.

"There are still many sectors we don't yet cover" in Japanese equities, Ogawa said in an interview, adding that the firm sees significant scope to expand its investment activity.

Point72 managed $58.5bn as of July and has operated in Japan since opening its Tokyo office in 2011.

Point72 is investing more heavily in training and recruitment, including hiring an internal trainer and a recruiter for its graduate development programme.

The expansion will extend beyond equities. Point72 is seeking specialists in macro and quantitative analysis as it looks to take advantage of opportunities created by movements in Japanese bonds, currencies and equities.