Japan not an EM, but Lehman agrees with your "ready to rock" outlook -- says you should be overweight Japan in their recommended global portfolio -- they say 15% of the portfolio vs the typical 9%...they are underweight the UK and Latin America and neutral the rest of the world.
They also suggest overweight equities and underweight cash and bonds right now (75% equities vs their typical 60%)
In terms of sectors Lehman is overweight: Financials (42% of portfolio - twice their normal allocation) Healthcare, Tech, Telecoms, and Media
Report came out yesterday via my Fidelity Account.